Dutch journalist Bram Ebus has just published an entire website dedicated to Venezuela's Mining Arc, a mega project that is at the centre of a national controversy given the devastation to both the natural environment and local communities that it is causing, as well as the innumerable allegations of rampant corruption surrounding it.Ebus spent three months investigating the many different aspects...Read More
By Suleiman Al-KhalidiAMMAN, Jan 16 (Reuters) - Jordan's cabinet announced on Monday a major package of IMF-guided tax hikes it says are crucial to gradually lower record public debt needed to get the economy hit by regional conflict growing again. The package announced on state media includes removing exemptions on general sales tax and unifying low 4 to 8 percent rates on a large number of items...Read More
* Business sentiment at -12 pct in Q4* Most pessimistic result in two years* Firms downbeat on new Labour govt - economist (Adds economist comment, market reaction)By Charlotte GreenfieldWELLINGTON, Jan 16 (Reuters) - New Zealand business sentiment turned negative and sunk to a two-year low in the fourth quarter due to pessimism towards the new centre-left government, a private think tank said on...Read More
By George GeorgiopoulosNICOSIA, Jan 16 (Reuters) - Eurobank will maintain its Balkan footprint in Bulgaria, Serbia and Cyprus after pulling out of Romania, its deputy CEO said on Tuesday, expecting the group's subsidiaries there to double their profitability over the next few years.Greece's third-largest lender by assets clinched a deal in November to sell its Romanian unit Bancpost to Banca Trans...Read More
Commentary courtesy of SRSrocco Report. In this update, Tom Cloud reviewed his calls on for the precious metals market last year and what he sees taking place in 2018. Tom discusses their price targets and the overall precious metals market. For example, Tom's forecast for gold to go up 10% in 2017 actually turned out to be 13.5%. This was due to what he saw as the falling U.S. Dollar Ind...Read More
(Adds quotes from PSD leader, detail)* Tudose is second premier ousted since June* Move strengthens PSD leader Dragnea's grip on power* Party holds comfortable majority in parliament By Radu-Sorin MarinasBUCHAREST, Jan 15 (Reuters) - Romania's Prime Minister Mihai Tudose resigned on Monday after his Social Democrat Party (PSD) withdrew backing for him in an overwhelming vote, becoming the second...Read More
Canada's Gran Colombia Gold (TSX:GCM) announced today that its total gold production for 2017 was 173,821 ounces, up 16% over 2016 and surpassing its guidance for the current year which was estimated between 150,000 and 160,000 ounces of gold.Only in the fourth quarter of 2017, the company produced 51,699 ounces of gold, up 26% over the fourth quarter of the previous year.Despite the fact that it...Read More
PANAMA CITY, Jan 15 (Reuters) - Consumer prices in Panama were 0.5 percent higher in December compared with the same month a year earlier, the country's national statistics office (CGR) said on Monday.Education prices rose 3.5 percent, while health was up 2.3 percent and transportation prices gained by 1.7 percent, according to CGR data.Consumer prices rose by 0.2 percent in December compared with...Read More
(Adds details on specific stocks, updates prices to close)* TSX ends up 63.63 points, or 0.39 percent, at 16,371.81* Seven of the TSX's 10 main groups move higher TORONTO, Jan 15 (Reuters) - Canada's main stock index gained on Monday, boosted by a bounce-back in shares of cannabis producers and sharp gains for gold miners as bullion prices hit a four-month high.* The Toronto Stock Exchange's S&a...Read More
(Updates prices)By Bruno FederowskiSAO PAULO, Jan 15 (Reuters) - The Mexican peso rose to a more than five-week high on Monday on hopes that U.S. President Donald Trump may soften his stance on the North American Free Trade Agreement (NAFTA) after negotiations hit a bumpy patch last week.Renewed worries that Trump would scrap NAFTA had weighed on the peso last week. The talks between the United St...Read More
TORONTO, Jan 15 (Reuters) - Canada's main stock index ended higher on Monday, boosted by sharp jumps for cannabis stocks after a sell-off last week and by gains for major gold miners as the price of the precious metal hit a four-month high.The Toronto Stock Exchange's S&P/TSX composite index unofficially closed up 63.63 points, or 0.39 percent, at 16,371.81. Seven of its 10 main sectors rose.(...Read More
Jan 16 (Reuters) - Australian shares are poised to edge lower on Tuesday, weighed down by material stocks, as iron ore and coking coal fell.Chinese iron ore futures slipped 2 percent on Monday as stockpiles of the steelmaking commodity at China's ports surged to the highest since at least 2004, with weaker steel prices also adding pressure. The local share price index futures inched down 0.1 perce...Read More
Jan 16 (Reuters) - Stock MarketsNet ChngStock MarketsNet ChngS&P/ASX 200** 6077.1 7.0 NZX 50**8,211.37 -30.98DJIA* 25,803.19228.46NIKKEI**23,714.8861.06Nasdaq* 7,261.06249.285FTSE**7,769.14 -9.50S&P 500*2,786.24 18.68 Hang Seng** 31,338.87-73.67SPI 200 Fut 6016.0 -10 STI** 3,536.41 15.85SSEC**3,409.9907 -18.95KOSPI** 2,503.73 7.31------------------------------------------------------------...Read More
(Adds details, quotes, background)By PolinaIvanova and JulieZhuMOSCOW/BEIJING, Jan 15 (Reuters) - Russia's largest gold miner Polyus said on Monday that plans to sell a 10 percent stake to a consortium led by China's Fosun International had been dropped after one of the conditions of the agreement was not met.Russia, the world's third largest gold producer, had been looking for investments from A...Read More
WELLINGTON, Jan 16 (Reuters) - New Zealand business sentiment turned negative and sunk to a two-year low in the fourth quarter on pessimism towards the new centre-left government, a private think tank said on Tuesday.A net 12 percent of firms surveyed expected general business conditions to deteriorate compared with 5 percent who had forecast an improvement the previous quarter, the New Zealand In...Read More
ALL TIMES IN EST/GMT -------------------------------------------------------1100/1600: U.S. Department of Agriculture (USDA) releases weekly U.S. export inspections for grains, oilseeds (Delayed from Monday due to holiday) 1130/1630: Treasury Dept weekly sale of 3-, 6-month bills (Delayed from Monday due to holiday) 1300/1800: Treasury Dept. sells 4-week bills -------------------------------------...Read More
* Aims for depreciation of less than 4.8 percent* Ghana in its last year of IMF credit programme By Kwasi KpodoACCRA, Jan 15 (Reuters) - Ghana's cedi will be more stable in 2018 than last year, helped by lower inflation outlook and higher oil production, the central bank said on Monday.The currency of the major commodity exporter declined 4.88 percent to the dollar in 2017, its best performance i...Read More
WELLINGTON, Jan 16 (Reuters) - New Zealand employee confidence edged up to its highest since before the 2008 global financial crisis in the fourth quarter, a survey showed on Tuesday.The Westpac-McDermott Miller employee confidence index inched up to 113.9 in the three months to the end of December, from 113.8 in the previous quarter.Optimism towards strong jobs growth was still warring with low w...Read More
(Kitco News) - The current U.S. dollar’s plunge is temporary, says Capital Economics, noting that a recovery is on its way, but warning that the currency might face renewed pressure in 2019.The Fed’s plan to tighten its monetary policy this year will be the main underlying factor supporting the greenback, John Higgins, chief markets economist at Capital Economics, said in a note on Mon...Read More
(Adds background, CEO commentary)Jan 16 (Reuters) - Auckland International Airport said on Tuesday it would sell its stake in North Queensland Airports (NQA) to existing investors for A$370 million ($294.82 million), as it looks to focus on its domestic business.Perron Investments and The Infrastructure Fund have already agreed to buy all of Auckland Airport's 24.6 percent stake in NQA, the compa...Read More