Peru's Minister of Energy and Mines, Francisco ??smodes, said this week that his office expects mining investments to reach $58 billion in coming years.In an interview with the state-run newspaper El Peruano, ??smodes said that the goal for the next three years is to get at least 36% of that capital actually invested.The minister also said that the Mart?-n Vizcarra administration expects Peru's sh...Read More
Sept 29 (Reuters) - India's Care Ratings says:* Downgraded debt instruments, borrowings of IL&FS Transportation Networks Ltd (NS:ILFT) to junk* Total downgraded value of debt instruments of ITNL is 55.52 billion rupees Read More
(Adds details from board meeting, voting results at AGM)By Promit MukherjeeMUMBAI, Sept 29 (Reuters) - India's Infrastructure Financing and Leasing Services Ltd (IL&FS) ILFS.UL said on Saturday it will develop a "comprehensive" restructuring plan for the group to pay its liabilities, as it scrambles to cut its debt pile following a series of defaults and credit downgrades in recent w...Read More
By Promit MukherjeeMUMBAI, Sept 29 (Reuters) - India's Infrastructure Financing and Leasing Services Ltd (IL&FS) ILFS.UL said on Saturday it plans to seek funding from lenders to meet its credit obligations, as it scrambles to cut its debt pile following a series of defaults and credit downgrades in recent weeks.A series of defaults at IL&FS, a major infrastructure financing and constructi...Read More
Sept 28 (Reuters) - Shares of India's Yes Bank Ltd YESB.NS plunged nearly 10 percent on Friday to a 29-month low, as the lender's management crisis caused by the central bank curtailing its top executive's tenure dragged on.The bank said earlier this week that it would seek the Reserve Bank of India's (RBI) approval to extend CEO Rana Kapoor's term beyond January as it needs more time to identif...Read More
Investing.com - Here are the top five things you need to know in financial markets on Friday, September 28:1. Tesla (NASDAQ:TSLA) CEO Gets Sued by the U.S. Securities and Exchange CommissionShares of luxury car maker Tesla are likely to be under pressure in trading on Friday, as the stock plunged 10.64% in premarket trading on news that CEO Elon Musk is being sued.The U.S. Securities and Exchange...Read More
* U.S. sanctions on Tehran limiting Iranian crude supply* Sinopec halves Iran oil loadings under U.S. pressure -sources* Saudi Arabia will pump more to fill deficit, sources say* U.S. oil drillers add fewest rigs in quarter since 2017(Adds CFTC data in paragraph 6)By Stephanie KellyNEW YORK, Sept 28 (Reuters) - Oil prices rose more than 1 percent on Friday, with Brent climbing to a four-year high,...Read More
* Mining firms have criticised about high operating costs* Protesters complain about graft as budget announced* Western donors worried about debt, transparency (Adds analyst comments)By Chris MfulaLUSAKA, Sept 28 (Reuters) - Zambia will introduce new mining duties and increase royalties to help bring down mounting debt, the finance minister said on Friday, a move likely to draw opposition from min...Read More
(Corrects percentages of sliding scale for royalties in 9th paragraph)* Western donors worried about debt, transparency* Zambia hikes mining taxes to tackle high borrowing* As budget announced, protesters complain about graftBy Chris MfulaLUSAKA, Sept 28 (Reuters) - Zambia will introduce new mining duties and increase royalties to help bring down mounting debt, the finance minister said in a budge...Read More
Investing.com - Gold prices were slightly higher on Friday, but still remained near a six-week low as the greenback continued to rally from the Federal Reserve’s interest rate hike and strong economic data.Comex gold futures for December delivery inched up 0.20% to $1,189.80 a troy ounce as of 9:22 AM ET (13:22 GMT), on track for a 1.7% loss for September.Gold suffered after the Fed increase...Read More
LONDON, Sept 27 (Reuters) - Following are five big themes likely to dominate thinking of investors and traders in the coming week and the Reuters stories related to them.1/IF NOT 4Q The fourth quarter gets underway on Monday, the time of year when investors hope things quieten down and allow them to lock in the profits they've accrued throughout the year. That's the theory, but in actual fact they...Read More
(Bloomberg) -- Swiss asset manager and commodities trader Tiberius Group AG is stepping into the $215 billion digital coin market by offering a new token backed by seven metals in a sale set for Oct. 1.Aiming to distinguish its Tiberius Coin from the thousands that have no reference value, the company plans to make a market in the asset so that its value holds close to that of a price of a basket...Read More
Shares in Ecuador-focused explorer SolGold (LON, TSX:SOLG) dropped Friday in Toronto after the company reported an annual loss that almost doubled the one registered in 2017.For the 12 months to June, SolGold's pre-tax loss was A$15.3 million, compared to $8.3 million it recorded a year before.The stock fell 3.2% in Toronto to 60 Canadian cents by 10:05 local time, despite the company also saying...Read More
Swiss asset manager and commodities trader Tiberius Group AG is stepping into the $215 billion digital coin market by offering a new token backed by seven metals in a sale set for Oct. 1.Aiming to distinguish its Tiberius Coin from the thousands that have no reference value, the company plans to make a market in the asset so that its value holds close to that of a price of a basket of copper, alum...Read More
NEW DELHI, Sept 27 (Reuters) - The Indian finance ministry expects robust economic growth despite the fall in the rupee INR= and rising crude oil prices, a government source said on Thursday.The source said the ministry would soon announce steps to boost exports, while not ruling out more import curbs.The finance ministry saw no impact on Indian airlines from its decision to impose a 5 percent dut...Read More
* U.S. sanctions against Iran to start Nov. 4* Analysts say $100 oil is possible as markets tighten* Oman crude futures spike: https://tmsnrt.rs/2zxsGtm* U.S. crude output hits record: https://tmsnrt.rs/2N2OAYQ (New throughout, updates prices, market activity and comments to settlement)By Jessica Resnick-AultNEW YORK, Sept 27 (Reuters) - Oil edged higher on Thursday, driven by the prospect of a sh...Read More
Investing.com - Oil prices were hovering near the $82 a barrel level on Thursday, close to the four year highs reached earlier in the week amid fears of a supply shortage as the U.S. prepares to re-impose sanctions on Iran from Nov. 4.London traded Brent crude futures were up 0.71% to $81.36 a barrel from their last close by 07:51 AM ET (11:51 AM GMT), holding below the high of $82.55 reached Tues...Read More
* FTSE 100 up 0.5 pct* Higher crude lifts oil stocks, hits airlines* TUI sticks to forecasts, shares gain (Adds details, closing prices)By Danilo MasoniMILAN, Sept 27 (Reuters) - Britain's top share index rose on Thursday to a four-week high, helped by a drop in sterling, while continued weakness in basic materials stocks weighed.The FTSE 100 .FTSE gained 0.5 percent as the pound was held back by...Read More
(Repeats to add additional credit; no changes to text)By Sudarshan Varadhan and Aditi ShahNEW DELHI, Sept 27 (Reuters) - Hundreds of workers at motorbike companies including Yamaha Corp 7951.T and Eicher Motors EICH.NS are on strike in the southern Indian city of Chennai, demanding better wages and a right to form unions to defend their interests.Employees said the companies had employed a large...Read More
By Sudarshan Varadhan and Aditi ShahNEW DELHI, Sept 27 (Reuters) - Hundreds of workers at motorbike companies including Yamaha Corp 7951.T and Eicher Motors EICH.NS are on strike in the southern Indian city of Chennai, demanding better wages and a right to form unions to defend their interests.Employees said the companies had employed a large number of contract workers to get around rigid Indian...Read More