(Repeats Nov 14 story with no changes in text)* Indian government, RBI trying to avoid blow-up at board meeting* Government doesn't want to see RBI Governor Patel quit-sources* Key for government is to create conditions for increased lending* Reserves dispute may be kicked down the road-sourcesBy Manoj Kumar and Suvashree ChoudhuryNEW DELHI/MUMBAI, Nov 14 (Reuters) - India's government and its cen...Read More
Nov 16 (Reuters) -For other diaries, please see:Top Economic EventsM/DIARYEmerging Markets Economic Events EMRG/DIARYGovernment Debt AuctionsD/DIARYPolitical and General NewsPOL/DIARYU.S. Federal ReserveFED/DIARYToday in WashingtonWASH/DIARY ----------------------------------------------------------- This Diary is filed daily. ** Indicates new events -----------------------------------------------...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)LONDON, Nov 15 (Reuters) - European shares marched higher on Thursday as oil prices stabilised and mining stocks rallied on hopes that China and the United States may reach a rapprochement to end their long-running trade spat, offsetting bad news in the tech sector.The pan-European STOXX 600 index .STOXX was up 0.2 percent by...Read More
Nov 15 (Reuters) - Below are the ratings awarded by Credit Rating Information Service of India ( CRISIL (NS:CRSL)) for local debt instruments as of November 14, 2018. COMPANYINSTRUMENTRATINGAMOUNT MOVEMENT(RS.MLN) --------------------------- --------- SHORT TERM RATINGS: ------------------- Aaditya Foam Industries LLPLOCCRISIL A4+20Reaffirmed Active Tools Pvt LtdPacking CreditCRISIL A4+110Assigne...Read More
* Sees India refined copper consumption around 650,000 T in 2018* Shipments from ASEAN, Japan to fill void left by Vedanta -CEO* Sees import reliance up to 41 pct from previous 28 pct (Adds comment from CEO interview, industry details)By Tom DalySHANGHAI, Nov 15 (Reuters) - India's refined copper consumption is set to more than double over the next eight years amid rising demand from the power, au...Read More
SHANGHAI, Nov 15 (Reuters) - India's refined copper consumption is set to more than double over the next eight years amid rising demand from the power, auto and consumer sectors, the chief executive of one of the country's top copper smelters said on Thursday.The nation's consumption of the metal is expected to rise to 1.433 million tonnes by 2026 from 650,000 tonnes in 2018, Birla Copper CEO J.C....Read More
The major gold miners' stocks remain mired in universal bearishness, largely left for dead. They are just wrapping up their third-quarter earnings season, which proved challenging. Lower gold prices cut deeply into cash flows and profits, and production-growth struggles persisted. But these elite companies did hold the line on costs, portending soaring earnings as gold recovers. Their absurdly-che...Read More
LONDON, Nov 15 (Reuters) - Katanga Mining expects its earnings to be hit if a row with Democratic Republic of Congo that has prevented it from importing and exporting copper is not resolved soon.Although Glencore's Katanga said on Thursday that copper production was continuing as normal, it warned that its earnings would be affected if the dispute is not settled."Unless the dispute with the DGDA...Read More
SANTIAGO - Chile's state copper agency Cochilco lowered its average copper price prediction for this year by $0.03 to $2.97 per pound on Thursday in its second negative projection in six months.Cochilco also lowered its 2019 price projection to $3.05 per pound from the $3.10 it predicted in July, saying there would be a continued depression in appetite for the metal because of U.S.-China trade ten...Read More
Shares in Chilean miner Antofagasta Plc. (LON:ANTO) got a boost Thursday after the company announced the board of directors had approved a $1.3 billion expansion of its Los Pelambres copper mine in Chile.The awaited upgrade of Los Pelambres will add 60,000 tonnes of copper a year to the company's overall production once in full operation. Annual production is expected to increase from 40,000 tonn...Read More
* Jump in supply comes as demand outlook weakens* OPEC+ discuss supply cut of up to 1.4 million bpd -sources* POLL-U.S. crude stockpile likely up for eighth week* U.S. crude oil stocks rise sharply, climbing 8.8 mln bbls-API (Adds API data, Breakingviews item in related content field)By Devika Krishna KumarNEW YORK, Nov 14 (Reuters) - Oil rose about 1 percent on Wednesday, recouping some of the pr...Read More
NEW DELHI, Nov 14 (Reuters) - India's finance ministry wants the Reserve Bank of India (RBI) to address credit and liquidity related issues at its board meeting scheduled for Nov. 19, Indian TV channels reported on Wednesday, citing unidentified sources.The central bank and the government have been at loggerheads in recent weeks as the government ramps up pressure on the regulator to relax lending...Read More
* Indian rupee rises to its highest since Sept. 21* India 10-year bond yield falls to lowest since Aug. 2* Local elections, cenbank-govt rift to cap large gains - dealers (Updates to add details, background, quotes)By Suvashree ChoudhuryMUMBAI, Nov 14 (Reuters) - The Indian rupee and bonds gained in early trade on Wednesday, boosted by a fall in global oil prices and on the central bank's announce...Read More
* STOXX down 0.6 pct, Eurostoxx 50 down 0.6 pct* Italy down 0.8 pct as budget showdown looms* Oil stocks tumble as crude struggles* Copper slides, miners fall 2 pct (Updating prices, adding details)By Julien Ponthus and Helen ReidLONDON, Nov 14 (Reuters) - European shares hit their lowest in two weeks on Wednesday in a broadbased sell-off across oil, mining, technology and banking stocks amid rene...Read More
BRUSSELS, Nov 14 (Reuters) - The following are mergers under review by the European Commission and a brief guide to the EU merger process:APPROVALS AND WITHDRAWALS-- UK packaging business DS Smith SMDS.L to acquire Spanish corrugated packing provider Europac PYCE.MC (approved Nov. 14)NEW LISTINGSNoneEXTENSIONS AND OTHER CHANGES-- Germany's Thyssenkrupp TKAG.DE and India's Tata Steel TISC.NS to...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 down 0.5 pct* Brexit deal still has to pass through some hoops* Smiths Group rises on healthcare spin-off plan* Debenhams tumbles on report of suppliers turning awayBy Helen ReidLONDON, Nov 14 (Reuters) - Britain's top stock index sank on Wednesday as mining companies and oil majors sold off amid growing anxiety...Read More
* European shares down as much as 1.2 pct* German, Japanese economies contract in Q3* Sterling volatility jumps to highest since 2017 election* US crude bounces after longest losing streak in decades* Italy budget woes put euro, Italian debt under pressure* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVhBy Danilo MasoniMILAN, Nov 14 (Reuters) - Oil struggled to find a floor and stocks tum...Read More
Kyzyl ramp-up signals new growth path at buoyant PolymetalSPONSOREDpolymetal internationalXiana paid US$25 million in cash for the complex which consists of three operating mines, a concentrate plant, related infrastructure and exploration licences near the northern city of Ovalle."MAP is an excellent cornerstone asset for the Xiana portfolio and we look forward to executing our optimization plans...Read More
Amerigo MVC plant ramp-up on courseSPONSOREDamerigo resourcesThe company said the expansion, to start in early 2019, would add an average 60,000 tonnes per annum to its production over the first 15 years of operation.First output is expected in the second half of 2021.Amerigo MVC plant ramp-up on courseSPONSOREDamerigo resourcesCopper production will rise from an extra 40,000tpa in the first year...Read More
Two-time Vale president Eliezer Batista diesLeadershipLook beyond market approach to project valuations: van ZylLeadershipDR Congo: Is government intervention the real risk to watch?SPONSOREDverisk maplecroftKyzyl ramp-up signals new growth path at buoyant PolymetalSPONSOREDpolymetal internationalWorking on part of the 397-square-kilometre Kamoa-Kakula mining licence, Ivanhoe says it has delineate...Read More