Basic Materials


Zeroing in on empty homes, China throws developers a lifeline

BEIJING, July 6 - Dismayed by the millions of unsold homes in China's troubled real estate market, the Chinese government is taking matters into its own hands: by buying some properties and turning them into public housing.

2:29am IST

Saudi's SABIC unit, South Korea's SK form polyethylene project

DUBAI, July 5 - Saudi Basic Industries Corp (SABIC) said on Sunday it had completed the formation of a joint venture with Korean petrochemical manufacturer SK Global Chemical Co to produce polyethylene products.

05 Jul 2015

German minister backs K+S's Potash bid rejection

FRANKFURT, July 4 - A German regional minister gave his backing to potash miner K+S's rejection of an $8.8 billion-euro takeover bid by Canada's Potash Corp of Saskatchewan, saying K+S should remain a German company.

04 Jul 2015

Italy moves to keep steel, shipbuilder plants open

ROME, July 3 - The Italian government on Friday moved to keep open two major industrial plants which courts had ordered to be closed because of safety and environmental concerns.

04 Jul 2015

Shunning celebrity, judge in Petrobras probe downplays his power

SAO PAULO, July 3 - The judge presiding over Brazil's largest-ever corruption investigation defended his impartiality on Friday, in a case centered on state-run oil firm Petrobras that has swept up some of the country's most powerful executives.

04 Jul 2015
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Greeks defy Europe with overwhelming referendum 'No'

ATHENS - Greeks voted overwhelmingly "No" on Sunday in a historic bailout referendum, partial results showed, defying warnings from across Europe that rejecting new austerity terms for fresh financial aid would set their country on a path out of the euro. | Video