Arkema plans to buy China chemical companies

Note: This section contains information in English only.
Source: Marketwatch
© scanpix/AFP

French chemicals firm Arkema SA announced about purchase of two China's chemical companies for $365 million in line with acquisition plan presented in November last year. The company plans to purchase Hipro Polymers and Casda Biomaterials that most probably report about report $230 million revenues this year. The takeovers still require an agreement of China's government.

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Mon, 21 Nov 2011 10:23:38 GMT

The New Zealand dollar declined to seven-week low

The New Zealand dollar decreased to seven-week low against USD as the uncertainty about the Eurozone debt crisis undermined the investors' sentiment. The New Zealand dollar lost 0.37% to 0.7528 USD being the lowest since October 4. However, the kiwi improved its position against Australian dollar to NZD/AUD being 0.7592.

Mon, 21 Nov 2011 10:22:56 GMT

Aussie reached five-week record low

Australian dollar dropped to the lowest level against USD in last five weeks as US lawmakers today may declare failure to reach a deal regarding budget cuts boosting the concern that US might face one more credit downgrade. On Monday Australian dollar lost 0.3% $0.9974 in Sydney evening trading session which is the lowest level since October 12. 

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