China Ming Yang Ink Great Deal For the Wind Turbine Generator

China Wind Power International Corp just ink a deal with China Ming Yang Wind Power Ltd, wind turbine mabufacturer, for the construction of its wind farm project in the Asian countries; Ming Yang will produce and instell 132 inits wind turbine generators, meanwhile providing engineering service and construction management for the 198 mw-project.

This project is expected to be completed by the mid of 2012, and once the machine fully work, it will annually generate about $38 million.

$1.3 Billion Investment For The New Cerrejon Coal Mine

Recently , Anglo American , Xstrata and BHP Billiton have approved a $1.3 billion expansion of the Cerrejon mine, The world's largest coal deposits in Colombia.

The Investment will help to increase production and export capacity by 8 million tonnes per annum (mtpa) to 40 mtpa by the end of 2015.

Construction be completed by 2013. The project will expand the mine, coal handling facilities and the port.

By the time Cerrejon contains an estimated 5 billion tonnes of coal, of which 2.1 billion tonnes are at a measured and indicated export quality status.

Canadian Corporate Profit May Fall

Canadian corporate profits are expected to fall in the second half of the year  according to the US economics talks exporters and consumer confidence weakens.

The board's leading indicator of profitability, which tracks 49 industries, compareing to first time in almost a year, falling by 0.1%.

I18 industries recorded drops in their indexes in July, the most since the autumn of 2009. Export-heavy industries closely linked to growth in the U.S. economy, such wood, chemicals and machinerymanufacturing, all declined. The insurance and real estate industries seen falling off as well.

Metso Receive Huge Order

Metso will provide a metal shredder plant to the Russian Vyksa Steel Works, The transaction will be completed in the second quarter of 2012.

Metso is a leading technology supplier of equipment for metal shredding technology. It has 30% of  market share for the world metal scrap processing capacity equipment ,annually over 150 million tons of metal scrap is processed through Metso equipment.

The metal shredder plant will process clean and dense shredded ferrous scrap from all kinds of miscellaneous scrap and car bodies. It includes a ferrous and non-ferrous processing line with an annual capacity of up to 1 million metric tons.

  

Producing steel from clean shredded scrap instead of iron ore can save more than 70% of the energy needed for the steelmaking process. Also using clean shredded scrap in steelmaking reduces pollutants to the environment by 86%. Scrap metal shredding, separation and purification for reuse is an important way of saving natural resources.

Both China and HK Gain In Stock Market On Monday

Hong Kong outperformed most Asian market as investors picked up oversold stocks hammered in last week's global selloff on concern over U.S. growth and an unresolved European debt crisis.

So said investors were trimming their exposure to export and shipping names with weak short- to medium-term earnings outlooks and rotating into ones with stronger earnings growth such as cement. He added that greater clarity in Europe and the United States should drive a rebound in Hong Kong stock.

Chinese cement giant, Anhui Conch Cement Co Ltd gained 4.9 percent ahead of its first-half earnings announcement expected after the market close on Monday. Chinese insurance giant Ping An Insurance (Group) Co of China Ltd was the benchmark's top percentage gainer, up 6.4 percent ahead of its first-half earnings announcement scheduled for Wednesday.

China's largest property insurer PICC Property & Casualty Co Ltd surged almost 10 percent in midday volume exceeding its 30-day average, nearing a two-week intraday high after it reported a near doubling in first-half earings

SHANGHAI UNDERPERFORMS, INDUSTRIALS LEAD

The Shanghai Composite Index edged up 0.2 percent to 2,597.9 points on Monday morning, with profit-taking in some large caps that led gains last week cutting gains in industrials, even as midday A-share turnover hit its lowest in more than a week.

Sany Heavy Industry Co Ltd was the top support on the Shanghai benchmark, while Shenzhen-listed XCMG Construction Machinery Co Ltd , with a market cap of almost $7 billion, gained 8.7 percent in midday volume almost twice its 30-day average.

(Source:reuters)

Tax Holiday From Indonesia

Indonesia will give a tax holiday for investors committing at least $117 million into sectors including metals and energy, an effort to spur record levels of foreign direct investment in Southeast Asia's biggest economy.    

The G20 member aims to become a world top ten economy by 2025 through boosting investment, improving infrastructure and developing industries that add value to its position as a leading producer of resources such as tin, palm oil and coal.    

Finance Minister Agus Martowardojo said he will issue a regulation later on Monday on the scheme, which will cover base metals, oil refining, petrochemicals, renewable energy,machinery and telecoms equipment.

This will exempt investors from paying taxes for between five and 10 years after their companies start operations, though the duration was still being discussed, he said. Existing investors that have operated commercially for under one year may also ask for a tax holiday, he added.

"The impact will be huge. It can help us reach our 2011 investment target," said the country's investment chief Gita Wirjawan, referring to a target to get 240 trillion rupiah of investment this year.    

       

Foreign direct investment surged 21 percent in the second quarter of 2011 from a year earlier as strong commodity prices attracted investors into the mining sector, even without a tax holiday.

       

       

(Source:reuters)

Both China and HK Gain In Stock Market On Monday

Hong Kong outperformed most Asian market as investors picked up oversold stocks hammered in last week's global selloff on concern over U.S. growth and an unresolved European debt crisis.

So said investors were trimming their exposure to export and shipping names with weak short- to medium-term earnings outlooks and rotating into ones with stronger earnings growth such as cement. He added that greater clarity in Europe and the United States should drive a rebound in Hong Kong stock.

Chinese cement giant, Anhui Conch Cement Co Ltd gained 4.9 percent ahead of its first-half earnings announcement expected after the market close on Monday. Chinese insurance giant Ping An Insurance (Group) Co of China Ltd was the benchmark's top percentage gainer, up 6.4 percent ahead of its first-half earnings announcement scheduled for Wednesday.

China's largest property insurer PICC Property & Casualty Co Ltd surged almost 10 percent in midday volume exceeding its 30-day average, nearing a two-week intraday high after it reported a near doubling in first-half earings

SHANGHAI UNDERPERFORMS, INDUSTRIALS LEAD

The Shanghai Composite Index edged up 0.2 percent to 2,597.9 points on Monday morning, with profit-taking in some large caps that led gains last week cutting gains in industrials, even as midday A-share turnover hit its lowest in more than a week.

Sany Heavy Industry Co Ltd was the top support on the Shanghai benchmark, while Shenzhen-listed XCMG Construction Machinery Co Ltd , with a market cap of almost $7 billion, gained 8.7 percent in midday volume almost twice its 30-day average.

(Source:reuters)