Word: giants
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Iran's ties with China, which have steadily grown over the past decade, have accelerated rapidly in the past 18 months. In December 2007, the Chinese oil giant Sinopec Group signed a $70 billion deal to begin drilling in Iran's Yadavaran field, which has estimated reserves of about 17 billion bbl. In January of this year, China's biggest energy producer, CNPC, agreed to develop a medium-size oil field called North Azadegan - a deal worth about $2 billion. And last month, while demonstrators were fighting pitched battles with paramilitaries on Tehran's streets, Iranian oil officials flew...
...Speaking to reporters yesterday, Rudd issued his toughest comments yet in the case of Stern Hu, a Chinese-born Australian executive with mining giant Rio Tinto. Last week the Shanghai State Security Bureau arrested Hu and three Chinese colleagues on suspicion of industrial spying and stealing state secrets related to iron-ore prices. The arrests came amid acrimonious ore-price negotiations between Chinese steelmakers and global mining companies. (See pictures of Chinese investment in Africa...
...Despite periodic campaigns to stamp out corruption, bribery is widespread in Chinese industry. Just this week, a Beijing court sentenced Chen Tonghai, former chairman of the state-owned oil giant Sinopec, to death with a two-year reprieve for taking $29 million in bribes...
...back other people with big ideas about energy efficiency? Breaking through in a big way with an idea revolving around alternative energy or efficiency is hard because, in most cases, these projects don't assume to be profitable for years. Agassi has found success because he was already a giant in the world of software. Coming up with $100 million for an electric car project would be a nearly impossible task for anybody without the clout of Agassi. It's interesting to watch how Tom Casten and his son Sean, who run Recycled Energy Development, can get almost frustrated when...
...this is Sarawak, Malaysia - not Missouri. Belaga's Main Bazaar is a row of careworn early 20th century Chinese shophouses. Between the stores and the town's stone jetty stands a giant wooden hornbill, perched on a carved totem pole, missing a wing, paint peeling on its sun-bleached casque. From the kampung a couple of blocks away floats a muezzin's soulful maghrib, mingling in the twilight with the putter of Yamaha motors on the longboats crawling their way up the Batang Rajang, Malaysia's longest river. For hundreds of years, this was one of Sarawak's most vital...