Wednesday, November 18, 1998
Key petro goods' prices up 10 per cent
Prices of three key petro products - naphtha, furnace oil (FO) and low-sulphur heavy stock (LSHS) - are being revised upwards from Wednesday. The increase is in the range of 10%, and is the highest ever implemented by national oil companies since the first phase of reforms this year.
EU slaps countervailing duty on local steel bars
The country has lost an anti-subsidy case against stainless steel bright-bar exports in the European Union. The EU anti-subsidy directorate imposed definitive countervailing duties on stainless steel bright bars, originating in India on Saturday, responding to charges brought by a club of European steel producers.
Hoechst AG to split into two listed companies
German chemicals group Hoechst AG said it was splitting into two listed companies, one focusing on life sciences and one on its industrial chemicals activities. Hoechst said in a statement the two companies would be called Hoechst AG and Celanese AG, with Hoechst concentrating on life sciences and Celanese on industrial chemicals.
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