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METALS STOCKS Gold futures is boosted by...

wishnessyly — Fri, 20 Jun 2008 16:20:55 +0200

Rare Metal Intraday data provided by Interactive Data Real Time Services , a division of Interactive Data Corp. and subject to terms of use . Historical and current end-of-day data provided by Interactive Data Pricing and Reference Data . More information on NASDAQ traded symbols and their current financial status. Intraday data delayed 15minutes for Nasdaq, and 20 minutes for other exchanges. Dow JonesIndexes(SM) from Dow Jones & Company, Inc. SEHK intraday datais provided by Comstock and is at least 60-minutes delayed. Allquotes are in local exchange time. Real-time last sale dataprovided by NASDAQ.

Antlered Queen too political for Quebec

wishnessyly — Fri, 20 Jun 2008 16:20:24 +0200

Cast Cover Even if Queen Elizabeth II is not coming to Quebec City for the city's 400th anniversary, she is still the talk of the town. The work of an artist depicting the Queen sporting caribou antlers has been censored by municipal authorities and the sponsor of the art event related to the 400th anniversary of the founding of Quebec City. The piece of art is a manhole cover called "Tribute To Her Graceful Majesty" by Quebec painter Martin Bureau. It's an openly political work recalling the conquest of Quebec by British troops in 1759. Combining the two faces of the 25 cent Canadian coin, the artist created a new image of the Queen with antlers on her head. The work also reads: "Kwebec 1759-2009. Quarter of a buck." Bureau says the antlers replace the Queen's crown and symbolize a colonization trophy. The provocative cast-iron piece was supposed to be installed on a street last week along with other manhole covers made into art pieces. But the art organization which commissioned the work said the sponsor - foundry Bibby from Sainte-Croix-de-Lotbiniere on the south shore of Quebec City - deemed it too political and refused to cast it. Local officials were also not at ease with the work and refused to install the manhole cover that was finally cast by another foundry at the artist's expense. "It's censorship pure and simple," lamented Celine Marcotte, head of Folie/Culture which commissioned the manhole covers from 10 Quebec artists to commemorate the 400th. "It's interference with artistic freedom and the city officials didn't even do anything to back us up. They said it was disrespectful," Marcotte added. A spokeswoman for the municipality said the work was problematic because the name of the city was directly associated with it.

China's spending on real estate grows 25...

wishnessyly — Fri, 20 Jun 2008 16:19:52 +0200

Steel Property China's spending on factories and real estate grew 25.6 percent through May, led by property development and boosted by reconstruction work after snowstorms in January and February. Urban fixed-asset investment rose to 4.03 trillion yuan ($585billion) in the first five months from a year earlier, thestatistics bureau said, after gaining 25.7 percent in the fourmonths through April. Today's figure matched the median estimate of20 economists surveyed by Bloomberg News. Spending was more than the combined value of the economies ofThailand, Singapore and New Zealand. Economists are split onwhether three extra working days in May, inflation andreconstruction have disguised signs of a slowdown in the world'sfourth-biggest economy. ``Factoring in the extra working days, the Chinese economy hasactually slowed,'' said Qu Hongbin , chief China economist at HSBC Holdings Plc in Hong Kong. ``Growthwill keep slowing gradually because of weaker global demand forexports and monetary-policy tightening; inflation is the majorrisk.'' The yuan rose 0.1 percent to 6.8915 versus the dollar as of 3:14p.m. in Shanghai. The currency has gained 20 percent since a peg tothe U.S. currency was scrapped in 2005. Investment in real-estate development rose 31.9 percent in thefirst five months from a year earlier. Spending on non- ferrousmetals jumped 41.5 percent and that on coal surged 47 percent.

General Steel Co. moves to a larger loca...

wishnessyly — Fri, 20 Jun 2008 16:19:22 +0200

i-beam steel General Steel Corporation, a leader in thepre-engineered steel building industry, has moved from its originallocation to a new, larger complex in Littleton, Colorado. The move,which gives General Steel a total of 40,000 square feet, isindicative of the sales growth experienced by the company and itssubsidiaries. According to company representatives, growth is seenas key for the organization and its customers, and will furtherenhance the superlative level of service it provides. General Steel, a recognized industry pioneer, sells prefabricated steel buildings internationally and in all 50 states. The company provides customdesigns for churches, agricultural buildings, warehouses, sportsfacilities and small businesses, utilizing solid I-Beamconstruction and top quality pre-engineered components. General Steel ships their buildings from numerous facilities acrossthe country to minimize shipping costs for its customers, and backsits products with an outstanding 50-year structural warranty.Detailed blueprints are included with each project, and designrendering services are available at highly competitive rates. General Steel's buildings, which can feature decorative accessoriesand exteriors that make them virtually indistinguishable fromtraditional structures, are a good illustration of how far thecurrent industry has come from its industrial origins. General Steel's buildings are aesthetically pleasing and blend well with a varietyof architectural styles. "The General," well known through national advertisingprograms such as Paul Harvey's radio broadcasts, provides a freequote service and for qualified projects, can help with financingthrough an exclusive relationship with Helm Lending Group.

Steel down, utilities, shipping up

wishnessyly — Fri, 20 Jun 2008 16:18:51 +0200

light steel Asian stock markets traded flat on Tuesday, as investors werereluctant to take any major decisions following a lacklustersession on Wall Street. The Nikkei 225 index closed listlessly at 14,348.37, down 0.04%, or6 points, from Monday, while the broader Topix edged up 0.02%, to1,401.98, after yen stabilized at 108.52 against the U.S. dollar. Steel makers fell after brokerages downgraded companies like JFE Holdings (other-otc: JFEEF - news - people ) (down 1.0%, to 5,760 yen [$53.21]) and Kobe Steel (other-otc: KBSTY - news - people ) (down 2.7%, to 327 yen [$3.02]), but investors sought bargainsfrom recently laggard stocks, such as shipping and utilitycompanies. Boosted by a retreat in the price of oil, Tokyo Electric Power (other-otc: TKECF - news - people ) rose 1.0%, to 2,605 yen ($24.16); Chubu Electric Power advanced 3.0%, to 2,400 yen ($22.21), while Kansai Electric Power (other-otc: KAEPF - news - people ) gained 2.0%, to 2,300 yen ($21.28). New York's main oil futures contract--light, sweet crude for Julydelivery--hit an all-time high of $139.89 a barrel on the New YorkMercantile Exchange on Monday, amid uncertainty over Saudi Arabia'spledge to increase production. But eventually the contract pricedived, closing at $134.61. In the electronic trading in Asia onTuesday afternoon, the benchmark crude oil price declined by afurther 13 cents, to $134.44 per barrel. In Sydney, the S&P/ASX 200 rose 0.95%, to 5,422.70, while the AllOrdinaries index gained 0.9%, to 5,525.90, amid speculative buyingin banks, which rebounded from an early sell-off. "There was talk that one of the big four [Australian] banks wasgoing to do a major rights issue but that hasn't been confirmed,"said Rick Klusman, head of institutional trading at AequsSecurities. National Australia Bank (other-otc: NABZY - news - people ) rose 1.5%, to 27.97 Australian dollars ($26.31); Australia and New Zealand Banking Group (other-otc: ANZBY - news - people ) added 1.8%, to 19.75 Australian dollars ($18.60); and St. George (other-otc: STGKY - news - people ) was up 1.8%, at 29.57 Australian dollars ($27.82).

Export duty on long steel products hiked

wishnessyly — Fri, 20 Jun 2008 16:18:24 +0200

Long Steel New Delhi, June 13 In its continuing inflation-busting efforts, theCentre has raised the export duty on long steel products used inconstruction and infrastructure projects from 10 to 15 per cent,alongside clamping a flat 15 per cent ad valorem duty on all ironore shipments. Till now, iron ore exports attracted specific duties. These rangedbetween Rs 50 per tonne on fines having iron content up to 62 percent and Rs 300 per tonne on lumps and fines with ferrous contentabove 62 per cent. “In order to further strengthen a policy regime that enablesconservation of good quality ore and ensures its availability todomestic industry at a reasonable price, the effective rate of dutyon iron ore has been enhanced to a uniform rate of 15 per cent advalorem, irrespective of iron content,” according to aFinance Ministry release issued here on Friday. Given that the country has been exporting iron ore to China atabout $140 per tonne free-on-board (Rs 6,000 a tonne), a flat 15per cent duty would straightaway triple the effective dutyincidence to Rs 900 or so. Simultaneously, the export duty on long products of steel (bars androds, angles, shapes and sections, and wire) has been hiked from 10to 15 per cent “to improve their availability in the domesticmarket”. However, exports of flat rolled products (includinggalvanised products, pipes and tubes) – used in manufactureof cars and white goods – have been “fullyexempted” from duty. Currently, they range from five to 15per cent. Domestic car makes have been dealt a further blow. Cars with enginecapacity of 1,500 to 1,999 cc will now be charged to a specificduty of Rs 15,000 per cent over and above the existing 24 per centad valorem rate. The additional levy would be Rs 20,000 on carswith capacity of 2,000 cc and above.

Export duty on long steel products hiked

wishnessyly — Fri, 20 Jun 2008 16:18:23 +0200

Increased excise on vehicles needs more...

wishnessyly — Fri, 20 Jun 2008 16:17:53 +0200

non-alloy steel Cars above 1,500 cc engine capacity but below 2,000 cc capacitywill attract specific duty of Rs 15,000 per car and cars above2,000 cc engine capacity will attract specific duty of Rs 20,000per car. The excise duty on small cars i.e. cars below 1,500 ccengine capacity remains unchanged. The hike in excise duty comes weeks after some car manufacturershad hiked the prices of cars due to increase in the prices of inputs especially steel. Maruti Suzuki increased prices of itsmodels from Rs 1,000 to Rs 18,000 on May 20. Two days later,Hyundai announced a price rise of 0.75 per cent to 2 per cent. Hyundai vehicles became costlier by Rs 2,000 to Rs 20,000 from June1. Tata Motors followed suit last week by announcing a 1 to 2 percent hike in prices. Its multi utility vehicles became costlier by2 to 3 per cent. Lower demand, especially in the monsoon months,may, however, force manufacturers to come out with promotionalmeasures and attractive discounts. The steel sector also got special attention last week. Export dutywas fully exempted on flat rolled products of iron or non-alloysteel, hot rolled, not clad, plated or coated, flat rolled productsof iron or non-alloy steel, cold rolled (cold-reduced), not clad,plated or coated, flat rolled products of iron or non-alloy steel,plated or coated with zinc and tubes and pipes, of iron or steel.The rate of export duty on long products such as bars and rods;angles, shapes and sections and wire was hiked from 10 per cent to15 per cent. The Government rescinded the notification regarding export duty oniron ore fines and imposed uniform export duty of 15 per cent oniron ore irrespective of iron content and also on all sorts of ironore and concentrates. The iron ore exporters from Goa will now haveto make suitable representations to the finance ministry to enablethem keep their export commitments. The duty revisions might have everything to do with curbing pricerise of steel items and suitable relaxation that lower demandduring the monsoon months warrant but the overall impression isthat the steps are taken keeping in view the need for party fundsin the run up to the impending elections expected this year end,rather than mid-2009. The Government needs to explain its movesmore cogently to dispel such impressions. Area based excise duty exemption notifications have been amended toallow refund of 75 per cent of the duty payable for iron &steel, cement, starch and coco-butter, when these are manufacturedstarting from specified inputs in the same factory. The time limitfor filing application for revision of value addition rates havebeen revised and special provisions have been made for new units.

Targus says its new line-up of Laptop ba...

wishnessyly — Fri, 20 Jun 2008 16:17:17 +0200

Black PVC Targus ? Inc., maker of the world ’ s top-selling laptop computer cases and accessories, todayannounced its fall line-up of Back-to-School laptop bags includingthe environmentally conscious Grove ? bags, stylish Velos Messenger bags and lightweight Incognito line.Each bag features a padded compartment that fits up to 15.4 ” widescreen laptops and includes pockets for other essentialsstudents can ’ t leave home without. "Backpacks and laptop cases are more than just a convenient way tocarry around your laptop and school accessories, they make astatement, ” stated Kevin Gallagher, vice president of design at Targus. “ Whether you are looking to promote an eco-friendly lifestyle orjust want to be fashionable, Targus has a bag to fit anyone ’ s personal style. " The Grove cases are composed of PVC-free material, recyclableplastics and nickel-free metal, making them less harmful to theecosystem. Available in four attractive styles: ConvertibleBackpack/Messenger (TSB110US), Sling (TSB109US), Topload(TST022US), and Messenger (TSM068US) – you are sure to find one that fits your needs. All four bags offerdetailed workstations including storage compartments, a businesscard holder, key clip and pen loops. The ConvertibleBackpack/Messenger features backpack straps, which tuck away, sothe case can be used as a messenger with a single padded,adjustable shoulder strap. An MP3 pocket with headphonepass-through is available in the Sling, Topload and Messenger bags,allowing students to listen to their favorite music while oncampus. The Grove Messenger and Topload include a hidden waterbottle holder and back slip pocket with trolley pass-through whilethe Sling offers a side mesh bottle holder. The Grove Convertiblemeasures 12.6 ” x 5.51 ” x 16.14 ” , weighs 2.86 pounds, and has an estimated street price of $79.99.The Grove Sling measures 13.58 ” x 6.1 ” x 16.54 ” , weighs 2.29 pounds, and has an estimated street price of $59.99.The Grove Topload measures 14.96 ” x 5.51 ” x 12.6 ” , weighs 2.29 pounds, and has an estimated street price of $59.99.The Grove Messenger measures 14.37 ” x 4.53 ” x 13.39 ” , weighs 2.64 pounds, and has an estimated street price of $49.99. The Velos Messenger is available in three stylish colorcombinations with interchangeable color straps, offering studentsone case with two exciting looks. The color combinations include:chocolate case with chocolate and aqua straps (TSM063US); charcoalcase with black and lime green straps (TSM06301US); and a wheatcase with mushroom and orange straps (TSM06302US). To keep yourlaptop protected, the Velos messenger features a dual cushionedlaptop compartment to help prevent drop damage during travel. For anumber of storage options, the messenger includes three easilyaccessible front pockets and one rear slip pocket for notebooks orpapers as well as a zippered accessories pocket. For addedconvenience, the shoulder strap is adjustable and the handleretracts into the case. The Velos Messenger measures 14.57 ” x 3.54 ” x 12.01 ” , weighs 3.17 pounds and has an estimated street price of $69.99.

CoStar Group Promotes John Stanfill to L...

wishnessyly — Fri, 20 Jun 2008 16:16:35 +0200

Lead Product CoStar Group, Inc. (Nasdaq: CSGP), the number one provider ofcommercial real estate information/marketing solutions, todayannounced the promotion of John L. Stanfill to Senior VicePresident of Sales and Customer Service. Stanfill, who previouslyserved as Senior Vice President of Marketing and ProductManagement, will continue to report directly to Andrew C. Florance,the company's Founder and Chief Executive Officer, in his newlyexpanded role on CoStar's executive management team. Prior to joining CoStar in June 1995, Stanfill founded a commercialreal estate information service in Seattle that provided access toimages of commercial buildings throughout the market. Stanfill hasheld positions of increasing responsibility over the course of hisCoStar career, beginning as Sales Account Executive for the NewYork City market and including positions in business development,opening sales markets during periods of the company's U.S. nationalexpansion, and establishing and managing the company's Inside Salesoperation. He also directed the company's transition to a fullyWeb- based product offering in 2002. He served as Vice President ofProduct Management from December 2007 to early 2008, when heassumed overall responsibility for CoStar's product marketingefforts, and most recently directed the highly successful launch ofCoStar Showcase(R). "CoStar Showcase has now sold more than $3 million in subscriptionsales since its official launch last month," said Florance. "Thisnew listing marketing service is on pace to become the mostsuccessful new product in CoStar history. And while many of thesesubscriptions include a trial period and an option to cancel, theresponse to date clearly indicates these clients find CoStarShowcase to be a very compelling and effective solution formarketing their listings online. "John's extensive experience managing our product development andmarketing groups, culminating in the tremendous market reception toCoStar Showcase, make him an outstanding choice for this vitalsales management position," Florance continued. "I am confidentthat John's management experience, industry knowledge and provensuccess in selling CoStar's industry-leading information andmarketing services to a wide variety of clients and markets willhelp the company capture the tremendous sales opportunity beforeus, and achieve our goal of attaining a 30% EBITDA margin in ourU.S. operations and break-even in our international operations by2008 year-end." The company confirmed its guidance for the second quarter andfull-year 2008. For the second quarter of 2008, the companycontinues to expect a sequential quarterly increase in revenue of2.0% to 4.0% and fully diluted net income per share ofapproximately $0.24 to $0.26, as well as fully diluted net incomeper share of approximately $1.05 to $1.10 for the full-year 2008 --unchanged from its previous guidance. Dan Kimball, who recently was promoted to Vice President ofMarketing, will assume Stanfill's former responsibilities anddirect the company's marketing operations. Prior to joining CoStarin early 2007, Kimball was Partner/Vice President of Advertising atQuestus Inc., a leading interactive marketing agency, and also heldmarketing leadership positions at Capital One and other financialservices companies. Throughout his career at both start- ups andFortune 500's, Kimball has spearheaded new ventures and beenresponsible for a range of corporate development initiatives,including roles in business development, marketing, e-commerce andproduct development. Kimball joined CoStar as Senior Director,E-Commerce, and played a key role in the development and release ofCoStar Showcase.

Art Fest off to a good start

wishnessyly — Fri, 20 Jun 2008 16:16:07 +0200

Glass Kiln Tag : Glass Kiln "The material of glass has been a great teacher to me. It has helped me to live in the moment, forced me to cherish my mistakes, and gifted me many triumphs. It is an entity that you can never truly touch, that can bite you with a burn, but to release its creative potential, to dance with it, you must overcome your fear." Alexander Abajian is a prolific young artist untethered by convention. He integrates a variety of different elements to his own sculptures. Whether electroplating metal to glass, combining kiln castings with hand blown accents, manipulating solid pieces of color to forge vessels impregnated with intricate designs, or translating his own figurative paintings into three-dimensional sculptures, Alexander manifests an interminable drive to create. He is on the forefront of glass art, truly utilizing the material as a means of expression, free from the constraints of craft. The Ribbon Cane Canoe series was inspired by the ocean worn texture of beach glass, the ever-changing colors of the North Eastern fall season, and a desire to integrate traditional Venetian techniques w/ a whimsical contemporary twist. This design began as an experiment for folding glass like paper origami. As the exploration process continued, the material started to reveal recurring shapes, resulting in the refined boat form you see before you.

Hong Kong shares end morning flat as inv...

wishnessyly — Fri, 20 Jun 2008 16:15:32 +0200

oil chemical Hong Kong shares endend a skittishmorning session little changed on Tuesday as investors weighed theimpact of another spike in oil prices to another record high near$140 a barrel overnight, which sent energy stocks soaring, whileairline stocks crashed. Continued speculation that China will raise prices of refined oilproducts drove China Petroleum and Chemical Corp (Sinopec) (nyse: SNP - news - people ) higher, while selective interest in telecom stocks afterprevious falls helped buoy China Unicom (nyse: CHU - news - people ). 'It's another listless trading day as investors digest mixed leadsin overseas markets and the volatile oil prices,' said Peter Lai,investment manager at DBS Vickers. The Hang Seng finished the session down 1.14 points at 23,028.55. Overnight, light, sweet crude for July delivery dropped 25 cents tosettle at $134.61 a barrel on the New York Mercantile Exchangeafter earlier soaring to a trading record of $139.89.

McCain seeks end to ban on offshore dril...

wishnessyly — Fri, 20 Jun 2008 16:14:57 +0200

oil drawing No, we probably won't be able to drill our way out of the oilsupply crisis we are currently experiencing. It's too late for thatsince any drilling we undertake will mean a decade before the oilbegins to flow in any meaningful amounts. But it is absolutely ridiculous that we are not exploiting at leastsome of the resources we're sitting on. And one good place to startis allowing more offshore drilling. States like California have determined on their own that companiesshould not be able to drill off their coast. John McCain, to hiscredit, according to the Washington Post, wants to change some of that: Sen. John McCain called yesterday for an end to the federal ban on offshore oildrilling, offering an aggressive response to high gasoline pricesand immediately drawing the ire of environmental groups that thepresumptive Republican presidential nominee has courted for months. The move is aimed at easing voter anger over rising energy pricesby freeing states to open vast stretches of the country's coastlineto oil exploration. In a new Washington Post - ABC News poll, nearly 80 percent said soaring prices at the pump are causingthem financial hardship, the highest in surveys this decade. "We must embark on a national mission to eliminate ourdependence on foreign oil," McCain told reporters yesterday.In a speech today, he plans to add that "we have untapped oilreserves of at least 21 billion barrels in the United States. But abroad federal moratorium stands in the way of energy explorationand production. . . . It is time for the federal government to liftthese restrictions."

McCain says no to "sheiks and princes"

wishnessyly — Fri, 20 Jun 2008 16:14:26 +0200

oil driling Sen. John McCain criticized his rival's plan to tax energycompanies today as he called for lifting the moratorium onoff-shore oil drilling to try to alleviate the nation's dependenceon "sheiks and princes" to fuel the economy and dictate gas prices.He said he still wants to remove the federal gas tax for the summerto ease high prices. "He wants a windfall profits tax on oil, to go along with the newtaxes he also plans for coal and natural gas," McCain said of Sen.Barack Obama in remarks he plans to deliver tonight in Houston. "Ifthe plan sounds familiar, it's because that was President JimmyCarter's big idea too - and a lot of good it did us. Now as then,all a windfall profits tax will accomplish is to increase ourdependence on foreign oil, and hinder exactly the kind of domesticexploration and production we need. I'm all for recycling - butit's better applied to paper and plastic than to the failedpolicies of the 1970's." McCain called the nation's economic policies a recipe fordependence, despite oil reserves off the coast of at least 21billion barrels. He said states should be allowed to decide whetherto allow off-shore drilling on its coastline, but he said he wouldnot allow drilling in the Arctic National Wildlife Refuge inAlaska. "In oil, gas, and coal deposits, we have enormous energy reservesof our own. And we are gaining the means to use these resources incleaner, more responsible ways," he said. "As for offshoredrilling, it's safe enough these days that not even HurricanesKatrina and Rita could cause significant spillage from the batteredrigs off the coasts of New Orleans and Houston. Yet for reasonsthat become less convincing with every rise in the price of foreignoil, the federal government discourages offshore production." McCain, who likes to consider himself in the mold of a TeddyRoosevelt when it comes to the environment, said energyconservation is "no longer just a moral luxury or a personalvirtue." "Over time, we must shift our entire energy economy toward asustainable mix of new and cleaner power sources," he said. "Thiswill include some we use already, such as wind, solar, biofuels,and other sources yet to be invented. It will include a variety ofnew automotive and fuel technologies -- clean-burning coal andnuclear energy -- and a new system of incentives, under acap-and-trade policy, to put the power of the market on the side ofenvironmental protection." But Obama slammed McCain for flip-flopping his position on offshoredrilling, saying it was done in order to curry favor with the oilindustry. "John McCain's support of the moratorium on offshore drillingduring his first presidential campaign was certainly laudable, buthis decision to completely change his position and tell a group ofHouston oil executives exactly what they wanted to hear today wasthe same Washington politics that has prevented us from achievingenergy independence for decades," Obama said in a statement. "Much like his gas tax gimmick that would leave consumers withpennies in savings, opening our coastlines to offshore drillingwould take at least a decade to produce any oil at all, and theeffect on gasoline prices would be negligible at best since Americaonly has 3% of the world's oil," he said. "It's another example ofshort-term political posturing from Washington, not the long-termleadership we need to solve our dependence on oil. Instead ofgiving oil executives another way to boost their record profits, Ibelieve we should put in place a windfall profits tax that willhelp to ease the burden of higher energy costs on working families,and we should invest in the affordable, renewable sources of energythat Senator McCain has opposed in the past."

India's NMDC re-starts iron ore mining

wishnessyly — Fri, 20 Jun 2008 16:13:56 +0200

ore mining India's NMDC Ltd (NMDC.BO: Quote , Profile , Research ) re-started operating three iron ore mines on Friday night, ninedays after Maoist rebels blew up power transmission towers, acompany source said on Monday. The state-run miner, which supplies ore to local and Japanesebuyers such as Nippon Steel (5401.T: Quote , Profile , Research ) and JFE Steel Corp (5411.T: Quote , Profile , Research ), expects a total production loss of 400,000 tonne to 450,000tonne during the stoppage. "The mines are fully operational now," said the official who didnot want to be identified. "It translates into a loss of about100-120 million rupees ($2.3-2.8 million) each day." The three affected mines produce about 23 million tonnes of ironore a year and are situated 300 km (190 miles) south of Raipur, thecapital of central state of Chhattisgarh.