Investing.com - Oil traders are likely to stay focused on potential disruptions to global crude supplies in the upcoming week, as looming U.S. sanctions on Iran are widely expected to lead to a tighter market.The sanctions, which from November will include Tehran's oil exports, are being reinstated after U.S. President Donald Trump pulled out of the Iran nuclear deal earlier this year.Iran is the...Read More
Investing.com - The U.S.-China trade spat will likely remain a key driver of sentiment in the week ahead after reports said U.S. President Donald Trump wants to move forward with tariffs on $200 billion in Chinese goods.U.S.-Sino trade-war fears have been simmering for months. Neither side is showing any signs of backing down, fueling worries that world's two largest economies are spiraling toward...Read More
* Trump proceeding with tariffs on China -source* Emerging market stocks rise after Turkey rate hike* Oil rises, helping energy shares (Updates to close of U.S. stock market)By Trevor HunnicuttNEW YORK, Sept 14 (Reuters) - A world stock index climbed as bank and energy shares rose on Friday, but the momentum was sapped by a report that Washington may fire a new salvo in its trade war with Beijing....Read More
Anglo American Plc has quietly become a commodities trader.In just five years, the century-old miner assembled marketing operations that now sell more metals than the company produces. Yet the trading business gets barely a mention at presentations by Anglo executives or in analyst reports, taking a back seat to mines that produce everything from copper and platinum to diamonds.Anglo's move into t...Read More
Sept 15 (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
* Fiscal year to end without spending cuts - finmin* Will have higher-than-projected growth rate - finmin* Prime Minister satisfied with broad econ parameters (Updates to add detail from meeting, context)By Neha Dasgupta and Nigam PrustyNEW DELHI, Sept 15 (Reuters) - India's finance minister said on Saturday that the government is confident of meeting its fiscal deficit target of 3.3 percent of gr...Read More
NEW DELHI, Sept 15 (Reuters) - India's finance minister said on Saturday that the government is confident of meeting its fiscal deficit target of 3.3 percent of gross domestic product in the ongoing fiscal year, a day after announcing a number of measures to bolster a falling rupee.The fiscal year that ends in March 2019, will be completed without any spending cuts and the government is sure of me...Read More
Barrick Gold Corp. may slash 400 jobs and involve Chinese partners in its troubled Tanzania operations, Executive Chairman John Thornton told the Globe and Mail newspaper.The Toronto-based company has slashed middle management by half to about 700 and "we want to get it down to 300," Thornton, who's been in his role since 2014, told the Globe in an interview in London. The former Goldman Sachs Gro...Read More
Brazilian mining company Nexa Resources plans to invest some $1.17 billion in copper and zinc projects in Peru and Brazil over the next five years, the company's general manager Ricardo Porta said on Friday.About $816 million will be invested in Peru, including $555 million in copper projects and $216 million in zinc, Porta said in an interview.The proposed mine closest to being developed is Aripu...Read More
The prime minister of the Democratic Republic of Congo will sign a decree in the coming days to designate cobalt and other minerals as "strategic" and therefore subject to higher royalties, Mines Minister Martin Kabwelulu said on Saturday.The change is part of a new mining code, which mining companies including Glencore and Randgold oppose as it axes tax exemptions and hikes royalties and profit t...Read More
(Adds details)NEW DELHI, Sept 14 (Reuters) - India needs to be extremely vigilant to check weakness in the rupee and the task was to minimise volatility and avoid contagion to other macro policies, a member of the prime minister's economic advisory panel said on Friday.Prime Minister Narendra Modi is set to meet officials on Saturday to decide ways to address the currency's weakness and rising fue...Read More
* Oil on track for 1.6 pct weekly gain* Drillers add 2 oil rigs to 749 -Baker Hughes* Iran supply reductions loom (Updates with settlement prices and weekly gain)By Jessica Resnick-AultNEW YORK, Sept 14 (Reuters) - Oil prices pulled back on Friday on concerns additional U.S. tariffs would be placed on Chinese imports, after an earlier rally triggered by worries that more sanctions on Iran might co...Read More
(Bloomberg Opinion) -- Bloomberg Opinion marks the 10th anniversary of Lehman’s bankruptcy with a collection of columns from around the world. Read more.One of the most intriguing aspects of the 2007-09 financial crisis is how little understanding there is of what actually occurred. Some of this has to do with the complexities of the event, as well as how hard it is to identify forces lurkin...Read More
* Report says Trump proceeding with tariffs on China* Emerging market stocks rise after Turkey rate hike* Oil rises, helping energy shares (Updates with forthcoming U.S. tariffs on China)By Trevor HunnicuttNEW YORK, Sept 14 (Reuters) - A world stock index climbed as bank and energy shares rose on Friday, but the momentum was sapped by a report that Washington may fire a new salvo in its trade disp...Read More
Investing.com - Gold prices were lower on Friday after the greenback rallied from an earlier loss.Comex gold futures for December delivery decreased 0.51% to $1,202.00 a troy ounce as of 11:21 AM ET (15:21 GMT).Disappointing data on Thursday and Friday increased concern that the Federal Reserve could ease its stance on monetary policy. U.S. retail sales barely registered any gains in August, while...Read More
* World stocks index touches more than 1 week high* Emerging market stocks rise after Turkey rate hike* Chinese markets, copper still under pressure (Updates to U.S. stock market open; changes dateline, previous LONDON)By Trevor HunnicuttNEW YORK, Sept 14 (Reuters) - An index of world stock markets climbed to its highest in over a week on Friday as expectations grew that the United States and Chin...Read More
Investing.com - Gold prices rose on Friday as the U.S. dollar fell after lower than expected economic data.Comex gold futures for December delivery rose 0.36% to $1,212.50 a troy ounce as of 4:32 AM ET (8:32 GMT).Data on Thursday showed that inflation pressures in the U.S. are easing, increasing concern that the Federal Reserve could ease its stance on monetary policy. Higher rates are a negative...Read More
(Bloomberg) - The Democratic Republic of Congo's government will soon announce which minerals are to be designated "strategic" and subject to a 10 percent royalty rate, the mines minister said.Congo's updated mining code, signed by President Joseph Kabila in March and applied since regulations were finalized in June, introduced new taxes and hiked royalties on all metals - including raising coppe...Read More
The Lower Chamber of Chile's Parliament has begun studying a project that would set a 3% mining royalty for all companies operating in the country, which is the world's top copper producer and the one with the largest known reserves of lithium.The proposed tax, to be applied on the nominal value of extracted metals, would affect copper miners that produce more than 12,000 tonnes of the metal annua...Read More
DENVER-(BUSINESS WIRE)- Royal Gold, Inc. (NASDAQ: RGLD) ("Royal Gold" or the "Company") announces that wholly-owned subsidiaries of the Company and Altius Minerals Corporation ("Altius") entered into an agreement with Vale Canada Limited and certain of its subsidiaries (collectively, the "Parties") to comprehensively settle their long-standing litigation related to calculation of the royalty on...Read More