Workers of the Bulk Oil Storage and Transportation Company (BOST) are blaming the high petroleum prices in the country on some private individuals who they claim have formed ‘great cartel’ to control the industry. According to the Senior Staff and Junior Staff unions of BOST, the interest of the cartel is “to protect their selfish … Read more
Foreign steel producers on Wednesday called for prudence as the Trump administration considers possible actions to shield domestic companies from unfair imports on national security grounds. The remarks came at a public hearing as part of a Commerce Department investigation into the effects steel imports on US national security. The adminstration is similarly scrutinizing aluminum … Read more
South Korean chipmaker SK Hynix made record quarterly profits in the first three months of the year, it said Tuesday, with strong demand for memory chips for mobile gadgets pushing up prices. The firm’s first-quarter net profit surged 324 percent from a year ago to 1.89 trillion won ($1.66 billion) while operating profit jumped 339 … Read more
President Donald Trump on Thursday ordered an expedited probe into US steel imports in a bid to bolster “America First” production and jobs — a move that risks trade blowback from steel-making giant China. Trump signed a presidential memorandum for the Commerce Department to start the investigation under a little-used law, Section 232 of the … Read more
Germany has called on the European Commission to back its steelmakers by insisting on global trade rules in a dispute with US competitors over alleged German price dumping on the embattled US market. The US Department of Commerce has launched price dumping proceedings against foreign steel firms, including two German producers, suspecting they may be … Read more
Pupils of the Ashaiman Presby A and B basic schools, are appealing to the Ashaiman Municipal Assembly to close down a major refuse damp which is very close to the school. According to the pupils, they have no choice than to go home earlier than the normal closing time due to the smoke that emanates … Read more
Pupils of the Ashaiman Presby A and B basic schools, are appealing to the Ashaiman Municipal Assembly to close down a major refuse damp which is very close to the school. According to the pupils, they have no choice than to go home earlier than the normal closing time due to the smoke that emanates … Read more
Seventeen banks have been accused of rigging the price of South Africa’s currency, the rand. The country’s Competition Commission has called for big fines against the banking giants, which include HSBC and Barclays, after making a long list of serious and extensive allegations against them. The commission accused the banks’ foreign currency traders of conspiring … Read more
US President Barack Obama has urged China to accelerate measures to tackle overproduction of industrial goods. China has been accused of unfair practices by firms overseas for dumping products at low prices in their home markets. In April, China promised to reduce its steel output, following a crisis meeting attended by 30 nations. The President … Read more