Orla hits 147.7m at 1.25% copperResource definitionA rising force in the 'Ring of Fire'SPONSOREDasiamet resources Tony Manini, executive chairman of the company, where JP Morgan has built a near 8.4% stake, said the BFS should outline "the attractive economics" of the proposed operation, providing a springboard for a management offensive to obtain funding for an openpit mine producing 25,...Read More
Commodity markets have gone haywire - and hedge funds with picture-perfect timing are set to rake in stellar profits.As U.S.-China trade tensions escalated mid-June, fast-money traders flipped to a short position in metals overall, subsequently extending bearish wagers to a record coming into the maelstrom of the past few days.Hedge funds' net position stood at a negative 51 percent in precious me...Read More
A copper band found in Coastal Georgia revealed that ancient Native Americans engaged in extensive trade networks spanning far greater distances than what has been previously thought.Discovered by a group of anthropologists, the band is slightly wider than a bracelet. It was located alongside the cremated remains of at least seven individuals at a burial site. According to the researchers, this is...Read More
Chile's Antofagasta, one of the world's leading copper producers, expects copper prices to continue to be volatile due to global trade tensions, the head of the company was quoted in a local newspaper as saying on Sunday.Ivan Arriagada, chief executive of Antofagasta, said he expected copper prices to be affected by global uncertainty, according to an interview published in Chilean newspaper La Te...Read More
* M.D. Ranganath to continue as CFO till Nov. 16* Board says will launch search for new CFO (Adds executive's statement, background)MUMBAI, Aug 18 (Reuters) - The Chief Financial Officer of Infosys Ltd INFY.NS has tendered his resignation just seven months after India's second-biggest software services exporter appointed a new Chief Executive Officer.The board of Bengaluru-headquartered Infosys...Read More
MUMBAI, Aug 18 (Reuters) - Infosys Ltd INFY.NS on Saturday said its board had accepted the resignation of Chief Financial Officer (CFO) M.D. Ranganath.He had been appointed as the CFO of India's second-biggest software services exporter in 2015. Ranganath, popularly called Ranga, will continue in his current position as chief financial officer till November 16, 2018, Infosys said in a stock exch...Read More
(Adding announcement of presidential candidate; response by US Embassy and Theresa May)By Saad SayeedISLAMABAD, Aug 18 (Reuters) - Former cricket star Imran Khan was sworn-in as prime minister of Pakistan on Saturday, taking on the challenge of forming a coalition to govern as a currency crisis looms over the turbulent, nuclear-armed South Asian country.Khan won the national election last month pr...Read More
* NSE, BSE indexes up 0.75 pct* Cement stocks gain on petcoke import relief* Indian currency and debt markets closed for local holidayAug 17 (Reuters) - India's NSE index .NSEI marked its highest ever close on Friday, helped mainly by financial and consumer staple stocks and as Asian peers recovered on hopes of Sino-U.S. trade talks next week.Cement stocks such as Ramco Cements TRCE.NS , Shree Cem...Read More
NEW DELHI, Aug 17 (Reuters) - India on Friday allowed import of petcoke for use as feedstock in cement, lime kiln, calcium carbide and gasification industries, the Directorate General of Foreign Trade said.Usage of petcoke, a dirtier alternative to coal, in the energy hungry country has come under scrutiny due to rising pollution levels in major cities. (https://Read More
(Bloomberg) -- This is supposed to be a year of bumper oil demand, but economic warning signs are flashing across the developing nations that drive growth.Emerging markets are expected to contribute 1 million barrels a day of additional oil demand this year, about three quarters of total global growth, according to the International Energy Agency. Many of those countries are also the epicenters of...Read More
(Updates with U.S. mid-afternoon trading)By David RandallNEW YORK, Aug 17 - Another steep decline in the Turkish lira on Friday pushed emerging market equities lower and kept other world markets cautious, overshadowing hopes that an upcoming U.S.-China meeting would resolve concerns over trade tariffs.MSCI's All-Country World index .MIWD00000PUS , which follows shares in 47 countries, rose 0.3 per...Read More
* FTSE 100 has worst week since March* Index hovers near 4-month low* Consumer staples, healthcare stocks rise* Negative broker notes weigh on Kingfisher , Kaz Minerals (Updates prices, adds details)By Kit Rees and Helen ReidLONDON, Aug 17 (Reuters) - Britain's top share index failed to rebound convincingly on Friday at the end of a turbulent week for markets during which an economic crisis in Tu...Read More
* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh* MSCI ACWI inches higher* Lira falls back nearly 5 pct* Bear markets in emerging stocks, European banks and copperBy Ritvik CarvalhoLONDON, Aug 17 (Reuters) - Caution seeped back into world markets on Friday, with news of U.S.-China trade talks offset by an end-of-week wobble in emerging markets as the Turkish lira's recovery ran out of st...Read More
* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh* Global stocks up 0.2 percent* Lira falls back nearly 3 pct* Emerging stocks, European banks and copper enter bear marketBy Ritvik CarvalhoLONDON, Aug 17 (Reuters) - World stocks rose on Friday as news of plans for U.S.-China trade talks soothed nerves over their tariff war, while the recovery in Turkey's lira ran out of steam.The MSCI All...Read More
(Bloomberg) -- Commodity markets have gone haywire -- and hedge funds with picture-perfect timing are set to rake in stellar profits.As U.S.-China trade tensions escalated mid-June, fast-money traders flipped to a short position in metals overall, subsequently extending bearish wagers to a record coming into this week’s maelstrom.Hedge funds’ net position stood at a negative 51 percent...Read More
WARSAW, Aug 17 (Reuters) - Poland's KGHM, one of the world's biggest copper and silver producers, will achieve its 2018 copper production plan despite a fall in output in the first half of the year, the company's chief executive said on Friday."Looking at the results planned for 2018 we are optimistic and we assume that they will be achieved," Marcin Chludzinski told a press conference after KGHM...Read More
The main union at Chile's Caserones copper mine, majority-owned by Japan's JX Nippon Mining and Mitsui Mining, has accepted an adjusted contractual offer from management, which marks the end of the negotiation process and removes the threat of a strike."We have reached an agreement on the drafting of the collective contract, and we have signed the collective agreement," the board said in an intern...Read More
Aug 16 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of India ( CRISIL (NS:CRSL)) for local debt instruments as of August 14 and August 15, 2018. COMPANYINSTRUMENTRATINGAMOUNT MOVEMENT(RS.MLN) --------------------------- --------- SHORT TERM RATINGS: ------------------- Bhavani Saw Mill - TrichyLOC BillCRISIL D130DowngradedDiscountingfromCRISIL A4+ (ISSUER NOT CO...Read More
* Market focus shifts from tight supply to slowing demand* Prices steady as copper and equities recover from lows* Asian demand shows signs of weakening (New throughout, updates prices, market activity and comments to settlement)By Jessica Resnick-AultNEW YORK, Aug 16 (Reuters) - Oil rose slightly as global markets steadied on Thursday, recovering some of the previous day's 2 percent slide, though...Read More
MUMBAI, Aug 16 (Reuters) - The Indian rupee dropped to a record low in opening deals on Thursday with investor sentiment affected by a widening trade deficit on the domestic front and the broad rise in the U.S. dollar versus other Asian peers.The dollar held near a 13-month peak on Thursday as political turmoil in Turkey and concerns about China's economic health continued to support safe-haven as...Read More