By Abhirup Roy and Suvashree ChoudhuryMUMBAI, Sept 3 (Reuters) - Indian markets fell sharply on Monday after a set of fund managers raised fresh concerns over an April circular from the market regulator related to tighter rules on foreign funds ownership by entities of Indian origin, which they said could lead to massive dollar outflows from the economy.The Securities and Exchange Board of India (...Read More
* Volcan gets valid acceptance for 92.31 pct of Vedanta's shares* Vedanta's new CEO takes over* Vedanta waits to hear if Indian copper smelter can be reopened (Adds Anglo American deal speculation, details on new CEO, background)By Noor Zainab HussainSept 3 (Reuters) - Vedanta Resources' VED.L Chairman Anil Agarwal will take the London-listed miner private on Oct. 1, his family trust said on Mon...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 up 0.8 pct, mid caps up 0.2 pct* Energy stocks, miners rise; pound weak* Dechra Pharma says to implement hard Brexit plan, shares slumpBy Kit ReesLONDON, Sept 3 (Reuters) - The UK's top share index rose on Monday, starting September on a stronger note as a weaker pound and a bounce across commodity stocks helped B...Read More
Gold, base metals downCapital marketsSouth32, the BHP spin-off which declined an opportunity to acquire Nickel West three years ago, must be taking a fresh look at the 50-year-old operation that is rapidly reinventing itself as a s...Read More
Environmentalists interviewed by AFP said they believe Chile's 24,114 glaciers are in danger from mining activity.Climatologist Fabrice Lambert told the news agency that glaciers that are close to mining sites get covered by dust and such particles absorb solar energy in a way that could increase the rate at which the white ice mountains are melting. According to the expert, particularly those in...Read More
Vedanta Resources' Chairman Anil Agarwal will take the London-listed miner private on Oct. 1, his family trust said on Monday, a step seen by some in the industry as a prelude to a potentially broader deal with bigger miner Anglo American.The Volcan Investments trust, which held about two thirds of Vedanta's London-listed arm before it announced a roughly $1 billion buyout offer in July, said hold...Read More
Investing.com - Gold prices look likely to remain under pressure this week with the prospect of higher U.S. interest rates to the front of metal traders’ minds ahead of Friday’s U.S. jobs report.The non-farm payrolls report for August is due out on Friday and is expected to show that the economy added 190,000 jobs while the unemployment rate ticked lower. U.S. financial markets will be...Read More
NEW DELHI, Sept 2 (Reuters) - Indian software services exporter Wipro Ltd WIPR.NS won its biggest-ever contract worth more than $1.5 billion with U.S.-based Alight Solutions LLC for digital services, the company said in a statement on Sunday.Wipro, one of India's top IT firms, said it would earn $1.5-1.6 billion in revenues over the tenure of the deal, which will include services in health, huma...Read More
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
If you don't work in the field, you probably don't know that once they collect information, geologists have to input data manually into data management software.But some mining companies don't want their experts to do that anymore and developers are hearing them loud and clear.Down Under, students at the University of Western Australia have engaged in a 12-week challenge to come up with a solution...Read More
By Aditya KalraNEW DELHI, Sept 1 (Reuters) - Indian Prime Minister Narendra Modi launched a payments bank on Saturday to turn postmen into bankers so they can offer financial services to the poor in rural areas and boost digital transactions.Modi has since 2014 sought to end what he has called "financial untouchability" by giving millions of people access to banking services in India, wh...Read More
SINGAPORE, Sept 1 (Reuters) - Singapore's trade minister said on Saturday that broad agreement on the world's biggest trade deal should be reached at a summit of leaders from participating nations in the city-state in November, six years since talks began.Called the Regional Comprehensive Economic Partnership (RCEP), the trade accord includes the 10 members of the Association of Southeast Asian Na...Read More
Sept 1 (Reuters) - Tata Motors Ltd TAMO.NS :* Sales in domestic market in August 2018 grew by 27 percent to 58,262 units, compared to 45,906 units over the previous year* August commercial vehicles domestic sales at 39,859 units, up 26 percent* Commercial passenger carrier segment sales at 4,458 units in August 2018, up 9 percent* Sales from exports in August 2018 was at 5,478 units compared to...Read More
Hudbay to take part of Doubleview's HatM&ASolGold set to shineSPONSOREDsolgoldSpeaking at an industry dinner in Santiago, Sebastian Piñera highlighted projects such as Teck's expansion of its Quebrada Blanca mine, which received environmental approval earlier this ...Read More
(Corrects combined entity's revenue share in fourth paragraph to 32.2 percent from 40 percent)Aug 31 (Reuters) - Idea Cellular Ltd IDEA.NS and Vodafone Plc VOD.L completed the merger of their India operations on Friday, creating the country's largest telecom operator by subscribers and revenue after the entry of a new player sparked a bitter price war.The merged entity would be a formidable ri...Read More
NEW DELHI, Aug 31 (Reuters) - India reported on Friday a fiscal deficit INFISC=ECI of 5.4 trillion rupees ($76.12 billion) for April-July, or 86.5 percent of the budgeted target for the current fiscal year compared with 92.4 percent a year earlier.Net tax receipts in the first four months of 2018/19 fiscal year that ends in March 2019 were 2.93 trillion rupees, government data showed.India expects...Read More
* Trump ready to impose new tariffs on China* U.S. sanctions on Iran support prices* Total OPEC production rises in August -survey* U.S. monthly production hits new record in June - EIA* Speculators raise bullish oil bets - CFTC (Updates prices, adds CFTC data)By Ayenat MersieNEW YORK, Aug 31 (Reuters) - Oil prices slipped on Friday, pressured by renewed concerns that a global trade war could dent...Read More
* FTSE 100 down 1.1 pct, posts biggest monthly loss since 2015* Trade war worries, sterling strength weigh* Whitbread soars after $5.1 bln Costa deal (Adds detail and quote, updates prices at close)By Kit ReesLONDON, Aug 31 (Reuters) - Britain's top share index fell on Friday and ended the month with its biggest loss in three years as a stronger pound and broader worries over an escalation in a...Read More
Investing.com - Gold prices rose on Friday as Canada and the U.S. rushed to finish trade negotiations before the end of the day.Comex gold futures for December delivery rose 0.43% to $1,210.20 a troy ounce as of 11:02 AM ET (15:02 GMT). Trade is expected to be light ahead of the Labor Day weekend, with markets closed on Monday.The price of gold was driven higher as trade tensions pushed investor s...Read More
(For a live blog on European stocks, type LIVE/ in an Eikon news window)* FTSE 100 down 0.3 pct, set to end August with 3.3 pct loss* Trade war worries, sterling strength weigh* Whitbread soars after $5.1 bln Costa dealBy Kit ReesLONDON, Aug 31 (Reuters) - Britain's top share index fell on Friday and was set to end the month with a loss as a stronger pound and broader worries over an escalation...Read More