* Raises wheat buying price by 6 pct to 1,840 rupees* Hike to make wheat exports from India unviable - trader* Support prices announced yearly to set benchmark, cover costs* Market prices often run below state prices, stoking rural anger (Updates with cabinet decisions)By Mayank Bhardwaj and Rajendra JadhavNEW DELHI, Oct 3 (Reuters) - India raised state-mandated prices for winter crops such as whe...Read More
(Updates to add details, cenbank intervention)By Suvashree Choudhury and Swati BhatMUMBAI, Oct 3 (Reuters) - The Indian rupee dropped to a record low on Wednesday as a sharp rise in global crude oil prices heaped more pressure on the currency, prompting the central bank to quickly intervene to slow its fall.The partially convertible rupee INR=D2 hit 73.4050 per dollar in early trade, an all-time l...Read More
The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.FUNDAMENTALS* Malaysian palm oil futures gained 1.8 percent on Wednesday, its largest intraday climb since Sept. 4, supported by rising crude oil prices. POI/* U.S. soybean futures eased on Wednesday in a technical selling setback following two days of gains despite concerns that rainy weather...Read More
NEW DELHI, Oct 3 (Reuters) - An Indian court on Wednesday ordered an interim stay on the cancellation of land allotted for expansion of Vedanta's VED.L south Indian copper smelter, in a relief to the conglomerate whose unit was shut on environmental grounds.The Tamil Nadu (NS:TNNP) state government ordered a permanent closure of the plant, cancelled land allocated for expansion and disconnected po...Read More
Orla hits 147.7m at 1.25% copperResource definitionAmerigo MVC plant ramp-up on courseSPONSOREDamerigo resourcesDavenport puts South Harz potash back in global spotlightSPONSOREDdavenport resourcesAMC Consultants: San Sebastian Mining Method Case StudySPONSOREDamc consultants‘From the Capital' columns over the past two weeks have discussed how mining industry executives have slipped into som...Read More
Kazakhstan is an "overlooked powerhouse" and one of the world's next big investment destinations was the message delivered to over 200 business leaders who attended the Kazakhstan Global Investment Forum in London yesterday.Several billion pounds of inward investment is expected to enter Kazakhstan over the next five years, as global organizations seek to benefit from a streamlining of government...Read More
KAMPALA, Oct 3 (Reuters) - Copper production in Democratic Republic of Congo, Africa's top producer, is expected to rise 11.6 percent to 1.2 million tonnes by end-2018, the Chamber of Mines said in a presentation on Wednesday.Gold production is seen rising 22.6 percent to 28,539 kg while cobalt output is expected to increase 33 percent to 98,449 tonnes it said.(By David Lewis and Alessandra Prenti...Read More
* Washington's Iran oil export sanctions to start on Nov. 4* OPEC seen having little spare capacity to fill Iran loss* Canada-U.S. NAFTA deal lifts market sentiment* HSBC says high oil price to weigh on growth* Coming Up: API's weekly oil inventory data at 4:30 p.m./2030 GMT (Updates with settlement prices)By Jessica Resnick-AultNEW YORK, Oct 2 (Reuters) - Oil prices eased slightly on Tuesday afte...Read More
* Gold heads for biggest daily percentage gain in over five weeks* Silver rises to more than one-month high* Investors on lookout for U.S. non-farm payrolls data (Updates prices)By Swati VermaBENGALURU, Oct 2 (Reuters) - Gold hit its highest in more than a week on Tuesday, vaulting the $1,200 per ounce mark, as investors sought refuge in the metal after stock markets sold off due to anti-euro comm...Read More
* European stocks follow Asia lower* Italian bond yields rise, bank stocks sink* Oil near 4-year highs* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVhBy Helen ReidLONDON, Oct 2 (Reuters) - World stocks went south and European assets sold off on Tuesday after anti-euro comments from an Italian party official weighed on the single currency and sent Italy's bond yields up to multi-year high...Read More
Investing.com - Gold prices surged more than 1% higher on Tuesday, climbing back above the psychologically important $1,200 level amid increased safe haven demand as concerns over Italy’s fiscal issues hit financial markets.December gold futures were up 1.24% to $1,206.60 by 09:53 AM ET (13:53 GMT) on the Comex division of the New York Mercantile Exchange.Investor concerns over Italy intensi...Read More
Fatality at Serabi mine: NMBCapital marketsHudbay to take part of Doubleview's HatM&AArizona deal a sign of relaxed capital discipline?M&AAmerigo MVC plant ramp-up on courseSPONSOREDamerigo resources In exchange for financing exploration work, Japan Oil, Gas and Metals National Corporation (JOGMEC) will gain an option to acquire a 60% stake in the property."Panoro is pleased to comple...Read More
LUSAKA, Oct 2 (Reuters) - , its finance minister said on Tuesday.The kwacha gained more than 5 percent to close at 11.9500 per dollar on Tuesday after hitting 12.6750 on Monday, its weakest level this year.Margaret Mwanakatwe said in parliament that pressure on the currency of Africa's No.2 copper producer had mounted lately due to demand for dollars from importers of petroleum products and extern...Read More
(Bloomberg) - Uganda plans to join a program aimed at rooting out corruption in resource industries as the East African nation seeks to reassure potential investors that it isn't involved in "conflict minerals."The cabinet has already endorsed the plan to join the Extractive Industries Transparency Initiative this year, according to Minister of State for Energy and Mineral Development Peter Lokeri...Read More
Peru's ability to post eight consecutive months of investment growth is calming fears that political woes would derail mining activity in the world's second-largest producer of copper, zinc and silver.Mining investment in Peru jumped 6.3 percent in August compared with last year, to $395 million, according to the latest report by the- Energy and Mines Ministry. Investment in development and prepar...Read More
(Updates with closing levels)By Swati BhatMUMBAI, Oct 1 (Reuters) - The Indian central bank said on Monday it would pump 360 billion Indian rupees ($4.95 billion) into money markets in October, pledging to buy back government bonds as part of a bid to quell fears of a credit crunch cascading through the economy.The latest move came after the government on Friday announced a borrowing target of a g...Read More
* Brent above $83 before Iran sanctions deadline* Analyst sees possibility of Brent at $100 a barrel* High prices, trade disputes threaten demand growth* Brent crude in different currencies: https://tmsnrt.rs/2N67zl9 (Updates with closing prices)By Jessica Resnick-AultNEW YORK, Oct 1 (Reuters) - Oil futures jumped more than $2 a barrel Monday, rising to levels not seen since November 2014, as U.S....Read More
* NSE index up 0.71 pct, BSE index 0.83 pct higher* Yes Bank top pct gainer on NSE indexOct 1 (Reuters) - Indian shares ended higher on Monday snapping a three-session losing streak, boosted by financials such as Housing Development Finance Corp Ltd HDFC.NS and IT bellwether Tata Consultancy Services Ltd TCS.NS .Investors remained cautious in early trade following the central bank announcing...Read More
LONDON, Oct 1 (Reuters) - Shareholders in Vedanta Resources, the UK arm of Indian miner Vedanta, on Monday backed the delisting of the company from London, where the miner has faced protests and legal action.Volcan Investments, the family trust of Vedanta chairman and founder Anil Agarwal, announced a roughly $1 billion buyout offer for Vedanta Resources in July. Monday, the cancellation of the li...Read More
Investing.com - Gold prices fell on Monday as the greenback rose amid easing trade tensions and investors rallied to equities.Comex gold futures for December delivery fell 0.34% to $1,192.10 a troy ounce as of 11:36 AM ET (15:36 GMT).The U.S. and Canada reached a trade deal on the North American Free Trade Agreement (NAFTA) on Sunday night, just hours before the deadline, easing trade tensions acr...Read More