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Crude futures hit all time high at $59.18
Singapore: Setting a new all-time high crude futures reached US$59.18 in Asian trade on Monday, on concerns that demand will outpace refineries' ability to produce diesel and gasoline in the second half of 2005.

Nymex crude for the July contract reached the mark mid-morning in Singapore, a rise of 71 cents from Friday's close, the second straight day oil has set intra-day records.

In floor trade Friday, crude climbed as high as US$58.60 per barrel before settling at US$58.47, an increase of US$1.89 on the New York Mercantile Exchange.
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China to sell off govt. stake in companies
Beijing: Late Sunday, China announced plans to sell off the government's stake in 42 major companies, including the country's leading steel maker.

The official Xinhua News Agency says the shares cleared for sale to private investors could be worth more than US$200 billion (euro150 billion).
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