Global Investment Roundups

By: Money Morning Monday, June 02, 2008 10:07 PM

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Sterlite Buys Asarco’s U.S. Copper Mines; Petrobras Award Tupi Rig Contracts; Russian Inflation to Hit 14% in 2008; South Korean Economy Outpaces Estimates; Toyota Sees U.S. Consumers Braking; Manufacturing Inches Up; NetSuite Snaps Up OpenAir

India’s largest copper and zinc producer, Sterlite Industries Ltd. (ADR:SLT), agreed to buy assets of recently bankrupted miner Asarco LLC for $2.6 billion, Bloomberg reported. Asarco has three copper mines, a smelter and refinery Asarco is the third-largest copper maker in the U.S., producing 235,000 tons in 2007, and Sterlite said it plans to make it the largest.

Petroleo Brasileiro SA (ADR:PBR), better known as Petrobras, doled out six-year deepwater oil rigging contracts to Scorpion Offshore Ltd. and Sevan Marine ASA. The rigs are for Petrobras’ November discover of the Tupi field, which hold between 5 million and 8 million barrels of oil, but underneath as much as 3,000 meters of water, Bloomberg reported.

Russia’s inflation rate could reach 14% by the end of the year, the head of the International Monetary Fund said yesterday (Monday). “Inflationary pressures are likely to remain high,” Poul Thomsen said in a statement. “Absent policy changes aimed at slowing growth in demand, we expect inflation to be running at about 14% by end-2008.”

South Korea has raised its first-quarter growth estimate from 0.7% to 0.8% from the previous quarter, The Associated Press reported. The economy grew 5.8% in the January-March quarter year-over-year, beating the April estimate of 5.7%, the Bank of Korea said on its web site. South Korea, Asia’s fourth largest economy, expanded by 5% in 2007.

Toyota Motor Corp. (ADR: TM) may downgrade its U.S. sales forecast to account for a bleak outlook for pick-up trucks and other big vehicles, the Financial Times reported yesterday (Monday).

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Hi,

Thanks for writing such an interesting article. It’s really good to know about the home packagers and movers in detail. Over 42 million people move in the U.S. every year. That’s an amazing 1 in 4 adults. The average person will move many times within their life. Studies have indicated that moving can be one of the most stressful times in someone’s life. Moving can be a disruptive time in anyone’s life. We might be happy about moving to a new home but there can still be a lot of emotion involved in leaving the old home, neighborhood and close friends. We don’t need the added burden of being fearful about entrusting everything we own in life to San Antonio movers company.

The right San Antonio moving company can take a lot of stress out of the moving process, but finding one may not always be simple. It usually takes more than just looking through the yellow pages of your local phone directory. For starters, there are several types of moving companies. Some may specialize in local moves while others will transport your belongings across the nation or even to another country. Your specific type of move will, to some extent, determine the <a href="http://www.sanantoniotxmovers.com">San Antonio moving</a> company you’ll hire.

Thanks,
Martin

Rating: (0) (0)

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