(Reuters) - Peregrine Holdings will join South Africa's JSE mid-cap index to replace transport and logistics group Unitrans, which is being bought by Steinhoff, the JSE said on Tuesday.
The JSE said Peregrine would join the index on May 21.
Read more at Reuters Africa
Tuesday, May 15, 2007
European 10-Year Yields Hold Near 3-Year High on German Inflation Report
(Bloomberg) -- European 10-year bond yields held near the highest in almost three years after a report showed inflation in Germany, Europe's largest economy, held its momentum in April.
Yields have risen 35 basis points this year on speculation robust economic growth will fan inflation and prompt higher interest rates. Futures trading shows that investors are raising bets on how high policy makers will lift interest rates.
Read more at Bloomberg Bonds News
Yields have risen 35 basis points this year on speculation robust economic growth will fan inflation and prompt higher interest rates. Futures trading shows that investors are raising bets on how high policy makers will lift interest rates.
Read more at Bloomberg Bonds News
Yen Declines to Record Low Versus Euro as Yield Spread Likely to Widen
(Bloomberg) -- The yen declined to a record low against the euro for a second day as signs of weaker economic growth suggest the Bank of Japan is unlikely to raise interest rates anytime soon.
The yield advantage on German two-year notes over Japanese equivalents rose to the most in almost five years after reports yesterday showed Europe's economy expanded more than expected and Japanese machinery orders fell. The yen has dropped against 15 of the 16 most-traded currencies this year as Japan's 0.5 percent borrowing costs lure investors to higher returns overseas.
Read more at Bloomberg Currencies News
The yield advantage on German two-year notes over Japanese equivalents rose to the most in almost five years after reports yesterday showed Europe's economy expanded more than expected and Japanese machinery orders fell. The yen has dropped against 15 of the 16 most-traded currencies this year as Japan's 0.5 percent borrowing costs lure investors to higher returns overseas.
Read more at Bloomberg Currencies News
Asian Stocks Rise; Inpex Holdings, PTT Advance on Gains in Crude Oil Price
(Bloomberg) -- Asian stocks rose, led by energy stocks such as Inpex Holdings Inc. and PTT Pcl after crude oil prices climbed to the highest in almost two weeks.
The Morgan Stanley Capital International Asia-Pacific Index added 0.1 percent to 148.59 at 2:18 p.m. in Tokyo. Japan's Nikkei 225 Stock Average was little changed, while the broader Topix index fell 0.1 percent. All benchmarks in the region gained.
Read more at Bloomberg Stocks News
The Morgan Stanley Capital International Asia-Pacific Index added 0.1 percent to 148.59 at 2:18 p.m. in Tokyo. Japan's Nikkei 225 Stock Average was little changed, while the broader Topix index fell 0.1 percent. All benchmarks in the region gained.
Read more at Bloomberg Stocks News
Sumitomo Metal Mining Unit Boosts Philippine Nickel Shipments 35 Percent
(Bloomberg) -- The Philippine unit of Sumitomo Metal Mining Co., Japan's biggest nickel maker, shipped 35 percent more nickel concentrate in the first four months of 2007 than a year earlier, according to customs data.
Coral Bay Nickel Corp. exported 7,781 metric tons to Japan compared with 5,756 tons between January and April last year, according to Bureau of Customs data obtained by Bloomberg today. Satoshi Oku, a spokesman for Tokyo-based Sumitomo Metal, could not confirm the volume when called by phone.
Read more at Bloomberg Commodities News
Coral Bay Nickel Corp. exported 7,781 metric tons to Japan compared with 5,756 tons between January and April last year, according to Bureau of Customs data obtained by Bloomberg today. Satoshi Oku, a spokesman for Tokyo-based Sumitomo Metal, could not confirm the volume when called by phone.
Read more at Bloomberg Commodities News
Most U.S. Stocks Fall After Home Depot's Earnings Report, Housing Concern
(Bloomberg) -- Lower-than-expected earnings from Home Depot Inc. and signs the housing market has yet to rebound dragged most U.S. stocks lower.
Home Depot dropped after the world's biggest home- improvement retailer said weakness in property prices resulted in the smallest quarterly sales gain in four years. Technology shares, led by Solectron Corp., fell the most among 10 industry groups in the Standard & Poor's 500 Index. A rally in General Motors Corp. lifted the Dow Jones Industrial Average.
Read more at Bloomberg Stocks News
Home Depot dropped after the world's biggest home- improvement retailer said weakness in property prices resulted in the smallest quarterly sales gain in four years. Technology shares, led by Solectron Corp., fell the most among 10 industry groups in the Standard & Poor's 500 Index. A rally in General Motors Corp. lifted the Dow Jones Industrial Average.
Read more at Bloomberg Stocks News
Vivendi's profit beats forecasts
(Reuters) - PARIS, May 15 - Vivendi of 1.3 billion euros , beating the average forecast of 1.023 billion euros given in a Reuters poll of 10 analysts.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
Democrats aim to rein in credit card abuses
(Reuters) - The bill, sponsored by Levin and Claire McCaskill of Missouri, calls for an end to abusive practices that can result in a downward spiral of mounting debt for some card holders.
It would prohibit interest rate hikes on a credit card account unless the card holder agrees to them and would limit penalty interest rate hikes to no more than a 7 percent increase.
Read more at Reuters.com Bonds News
It would prohibit interest rate hikes on a credit card account unless the card holder agrees to them and would limit penalty interest rate hikes to no more than a 7 percent increase.
Read more at Reuters.com Bonds News
Judge sides with Equitable-Dominion deal
(Reuters) - In a decision issued Monday, Schwab said the lawsuit filed by the FTC in March was superseded by the Pennsylvania Public Utility Commission, which approved the deal in April after concluding it would be in the public interest.
The FTC is still pursuing an administrative complaint against the deal and could challenge Schwab's ruling in federal appeals court.
Read more at Reuters.com Government Filings News
The FTC is still pursuing an administrative complaint against the deal and could challenge Schwab's ruling in federal appeals court.
Read more at Reuters.com Government Filings News
Putnam sale to Canada's Power Financial nears close
(Reuters) - Under the deal's terms, Putnam will remain based in Boston and retain its brand and key personnel, including president and chief executive Charles "Ed" Haldeman.
Putnam managed $192 billion in assets as of end-April.
Read more at Reuters.com Mergers News
Putnam managed $192 billion in assets as of end-April.
Read more at Reuters.com Mergers News
GLOBAL MARKETS-Tame U.S. inflation data supports stocks, bonds
(Reuters) - NEW YORK, May 15 - Stocks rose while Treasuries firmed and the dollar edged lower on Tuesday, as tame U.S. inflation data left open the prospect for Federal Reserve interest rate cuts later in the year.
U.S. consumer prices rose a smaller-than-expected 0.4 percent in April while core inflation, excluding volatile food and energy, was 0.2 percent, in line with forecasts. The annual core figure of 2.3 percent was below market expectations.
Read more at Reuters.com Bonds News
U.S. consumer prices rose a smaller-than-expected 0.4 percent in April while core inflation, excluding volatile food and energy, was 0.2 percent, in line with forecasts. The annual core figure of 2.3 percent was below market expectations.
Read more at Reuters.com Bonds News
Brazil investment grade unlikely for 2008 - Fitch
(Reuters) - Last week, Fitch raised Brazil's sovereign ratings to one notch below investment grade.
Fitch raised Brazil's long-term foreign and local currency ratings to "BB+" from "BB" and its country ceiling to "BBB-" from "BB+".
Read more at Reuters.com Bonds News
Fitch raised Brazil's long-term foreign and local currency ratings to "BB+" from "BB" and its country ceiling to "BBB-" from "BB+".
Read more at Reuters.com Bonds News
Mexican stocks gain on soft U.S. inflation data
(Reuters) - Core consumer prices for the United States were up 2.3 percent in April on a year-over-year basis, below analysts' expectations of a 2.4 percent rise.
"Our outlook on rate cuts is more positive now," said a stock trader in Mexico City.
Read more at Reuters.com Bonds News
"Our outlook on rate cuts is more positive now," said a stock trader in Mexico City.
Read more at Reuters.com Bonds News
Teal launches mining at Congo's Kalumines copper
(Reuters) - Teal Exploration and Mining Inc has launched mining at the Kalumines copper-cobalt project in Congo, it said on Tuesday.
Teal, which owns 60 percent of the mine, said the unit was expected to produce around 5,000 tonnes of copper in concentrate per year when the operation hit full production by mid-July, a statement said.
Read more at Reuters Africa
Teal, which owns 60 percent of the mine, said the unit was expected to produce around 5,000 tonnes of copper in concentrate per year when the operation hit full production by mid-July, a statement said.
Read more at Reuters Africa
Crude Oil Climbs Above $63 a Barrel After Shell Cuts Nigerian Production
(Bloomberg) -- Crude oil rose above $63 a barrel in New York after Royal Dutch Shell Plc announced an additional cut in Nigerian production following a community dispute in the Niger delta.
Shell's venture has 137,000 barrels a day shut, while other companies have 33,000 barrels offline, said a Shell spokesman, who declined to be identified. Militant raids in 2006 forced Shell's Nigerian unit to halt about 500,000 barrels a day of output. The country produces low-sulfur crude oil prized by refiners because of the proportion of gasoline it yields.
Read more at Bloomberg Commodities News
Shell's venture has 137,000 barrels a day shut, while other companies have 33,000 barrels offline, said a Shell spokesman, who declined to be identified. Militant raids in 2006 forced Shell's Nigerian unit to halt about 500,000 barrels a day of output. The country produces low-sulfur crude oil prized by refiners because of the proportion of gasoline it yields.
Read more at Bloomberg Commodities News
Platinum, Little Changed, May Fall on Forecast of Surplus; Palladium Drops
(Bloomberg) -- Platinum, little changed in New York, may fall after auto catalyst manufacturer Johnson Matthey Plc said a surplus in the metal may widen. Palladium dropped.
Platinum supply exceeded demand by 10,000 ounces in 2006, the first surplus since 1998, the company said in a report yesterday. The surplus may widen this year, Rainaldo O'Meara, a market research manager at Johnson Matthey said. The metal has gained 16 percent this year on speculation demand from industrial users will grow.
Read more at Bloomberg Commodities News
Platinum supply exceeded demand by 10,000 ounces in 2006, the first surplus since 1998, the company said in a report yesterday. The surplus may widen this year, Rainaldo O'Meara, a market research manager at Johnson Matthey said. The metal has gained 16 percent this year on speculation demand from industrial users will grow.
Read more at Bloomberg Commodities News
Zimbabwe again delays releasing inflation data
(Reuters) - Authorities in Zimbabwe, where prices are rising faster than anywhere else in the world, have have again delayed releasing inflation data, which analysts expected to show a further surge.
The Central Statistical Office (CSO) has for the past year published the data around the 10th of every month but the March figure, which hit 2,200.2 percent, was only announced by the central bank on April 26 after weeks of speculation.
Read more at Reuters Africa
The Central Statistical Office (CSO) has for the past year published the data around the 10th of every month but the March figure, which hit 2,200.2 percent, was only announced by the central bank on April 26 after weeks of speculation.
Read more at Reuters Africa
U.S. Stocks Gain as Consumer Prices Data Trail Forecast; GM Shares Rise
(Bloomberg) -- U.S. stocks gained after consumer prices rose less than forecast, reinforcing speculation the Federal Reserve won't increase interest rates this year.
Shares of General Motors Corp. pushed the Dow Jones Industrial Average higher for a third day after Lehman Brothers Holdings Inc. upgraded the largest U.S. automaker. Agilent Technologies Inc. climbed after the biggest maker of scientific- testing equipment posted quarterly profit that beat analysts' estimates.
Read more at Bloomberg Stocks News
Shares of General Motors Corp. pushed the Dow Jones Industrial Average higher for a third day after Lehman Brothers Holdings Inc. upgraded the largest U.S. automaker. Agilent Technologies Inc. climbed after the biggest maker of scientific- testing equipment posted quarterly profit that beat analysts' estimates.
Read more at Bloomberg Stocks News
Europe takes corporate bond deluge in stride
(Reuters) - Borrowers ranging from double-A rated Royal Dutch Shell or more.
Despite growing concerns over leveraged buyouts and merger and acquisition activity, which could threaten credit quality, European non-financial corporate bond spreads are at their tightest levels in at least two years, according to data from Merrill Lynch, tempting borrowers to tap the market.
Read more at Reuters.com Bonds News
Despite growing concerns over leveraged buyouts and merger and acquisition activity, which could threaten credit quality, European non-financial corporate bond spreads are at their tightest levels in at least two years, according to data from Merrill Lynch, tempting borrowers to tap the market.
Read more at Reuters.com Bonds News
Dollar falls against euro, yen after CPI
(Reuters) - The dollar fell against the euro on Tuesday in a delayed reaction to a report showing core U.S. consumer prices in April met forecasts, which kept expectations for interest rates intact.
U.S. consumer prices advanced 0.4 percent in April on a continued rise in energy and food prices, below the 0.5 percent expected but painting a stable inflation picture, the Labor Department report showed. The core rate, which excludes volatile food and energy prices, advanced 0.2 percent in April. That was directly in line with expectations.
Read more at Reuters Africa
U.S. consumer prices advanced 0.4 percent in April on a continued rise in energy and food prices, below the 0.5 percent expected but painting a stable inflation picture, the Labor Department report showed. The core rate, which excludes volatile food and energy prices, advanced 0.2 percent in April. That was directly in line with expectations.
Read more at Reuters Africa
UPDATE 1-Chile April copper exports rise to $3.282 bln
(Reuters) - Copper exports in April 2006 were $2.464 billion.
Chile is the world's top copper producer and the South American country has benefited from high prices, driven by limited supplies and sustained demand from China's booming economy. Copper export revenue accounts for about half of Chile's exports.
Read more at Reuters.com Economic News
Chile is the world's top copper producer and the South American country has benefited from high prices, driven by limited supplies and sustained demand from China's booming economy. Copper export revenue accounts for about half of Chile's exports.
Read more at Reuters.com Economic News
Tyco to settle class-action cases from Kozlowski era
(Reuters) - The settlement deals with a complaint filed in early 2003 on behalf of Tyco shareholders from December 1999 to June 2002.
Read more at Reuters.com Government Filings News
Read more at Reuters.com Government Filings News
Fortress posts quarterly net loss
(Reuters) - Fortress listed at $18.50 per share in its IPO. Its shares closed at $30.23, up 38 cents, or 1.2 percent on the New York Stock Exchange on Monday.
Read more at Reuters.com Market News
Read more at Reuters.com Market News
UPDATE 1-AerCap quarterly profit rises on stronger revenue
(Reuters) - The Dutch company, based at Amsterdam's Schiphol Airport, reported a first-quarter profit of $60.5 million, or 71 cents a share, compared with $35.5 million, or 45 cents a share, in the year-ago quarter.
The company, which leases planes and engines and provides aircraft management services, said for the latest quarter sales revenue was $148.9 million, 48 percent of the total revenue, compared with $33.2 million in the year-ago quarter.
Read more at Reuters.com Market News
The company, which leases planes and engines and provides aircraft management services, said for the latest quarter sales revenue was $148.9 million, 48 percent of the total revenue, compared with $33.2 million in the year-ago quarter.
Read more at Reuters.com Market News
Fed's Bernanke: Market principles top new rules
(Reuters) - He said the rapid growth of the credit derivatives market and the increasing prominence of hedge funds did not warrant specific regulation to address possible risks that they pose.
"I will argue that central banks and other regulators should resist the temptation to devise ad hoc rules for each new type of financial instrument or institution," Bernanke said. "Rather, we should strive to develop common, principles-based policy responses that can be applied consistently across the financial sector to meet clearly defined objectives."
Read more at Reuters.com Business News
"I will argue that central banks and other regulators should resist the temptation to devise ad hoc rules for each new type of financial instrument or institution," Bernanke said. "Rather, we should strive to develop common, principles-based policy responses that can be applied consistently across the financial sector to meet clearly defined objectives."
Read more at Reuters.com Business News
UPDATE 1-CSI boosts Alliance Atlantis' profit
(Reuters) - Alliance, which is in the midst of being taken over by CanWest Global Communications Corp. , earned C$41.2 million, or 98 Canadian cents a share, in the period ended March 31.
That's nearly twice the C$21.5 million, or 49 Canadian cents a share, it earned a year earlier.
Read more at Reuters.com Market News
That's nearly twice the C$21.5 million, or 49 Canadian cents a share, it earned a year earlier.
Read more at Reuters.com Market News
AIG to buy 21st Century for about $813 mln
(Reuters) - On closing of the deal, 21st Century will become a wholly owned subsidiary of AIG.
Read more at Reuters.com Mergers News
Read more at Reuters.com Mergers News
European Stocks Decline; Nestle, Unilever and Rio Tinto Shares Lead Drop
(Bloomberg) -- European stocks dropped, led by Nestle SA, Unilever NV and Rio Tinto Group.
The Dow Jones Stoxx 600 declined 1.32, or 0.3 percent, to 387.64 as of 12:05 p.m. in London after gaining as much as 0.1 percent. The Stoxx 50 lost 0.5 percent and the Euro Stoxx 50, a measure for the 13 nations sharing the euro, slid 0.4 percent.
Read more at Bloomberg Stocks News
The Dow Jones Stoxx 600 declined 1.32, or 0.3 percent, to 387.64 as of 12:05 p.m. in London after gaining as much as 0.1 percent. The Stoxx 50 lost 0.5 percent and the Euro Stoxx 50, a measure for the 13 nations sharing the euro, slid 0.4 percent.
Read more at Bloomberg Stocks News
Anglo American's Carroll Aims to Target China, Complete Trahar's Overhaul
(Bloomberg) -- Anglo American Plc, the world's second- largest mining company, expects to have largely completed by year- end an overhaul to focus on the metals demanded by China's expanding economy, Chief Executive Officer Cynthia Carroll said.
The plan aims to concentrate output on iron ore, copper, nickel, platinum, diamonds, coal, and zinc, Carroll said yesterday in an interview in Rio de Janeiro. The company is spending $7 billion on existing mines, and is studying as much as $15 billion of new projects, she said.
Read more at Bloomberg Emerging Markets News
The plan aims to concentrate output on iron ore, copper, nickel, platinum, diamonds, coal, and zinc, Carroll said yesterday in an interview in Rio de Janeiro. The company is spending $7 billion on existing mines, and is studying as much as $15 billion of new projects, she said.
Read more at Bloomberg Emerging Markets News
U.S. Stock-Index Futures Decline; Citigroup, Wal-Mart, Home Depot Fall
(Bloomberg) -- U.S. stock-index futures fell after Wal-Mart Stores Inc. forecast earnings that trailed analysts' estimates, adding to concerns inflation data today will keep the Federal Reserve from cutting interest rates as the economy weakens.
``We don't see a rate cut happening this year because inflation is there in the background,'' said Kevin Lyne-Smith, who helps oversee $100 billion as managing director at Julius Baer Holding AG's private-banking division in Zurich. ``We are underweight U.S. stocks. The economic slowdown is happening.''
Read more at Bloomberg Stocks News
``We don't see a rate cut happening this year because inflation is there in the background,'' said Kevin Lyne-Smith, who helps oversee $100 billion as managing director at Julius Baer Holding AG's private-banking division in Zurich. ``We are underweight U.S. stocks. The economic slowdown is happening.''
Read more at Bloomberg Stocks News
FACTBOX: Key facts about Thomson, which is to buy Reuters
(Reuters) - --Thomson had 639.78 million shares outstanding as of April 30, according to Reuters Knowledge, giving it a market capitalization of about $30 billion at latest prices. It is listed on the Toronto and New York stock exchanges.
--Thomson provides data, news, software and other applications in the fields of law, tax, financial services, research and health care. It competes with Reuters, and with Bloomberg LP, in providing information to financial markets.
Read more at Reuters.com Business News
--Thomson provides data, news, software and other applications in the fields of law, tax, financial services, research and health care. It competes with Reuters, and with Bloomberg LP, in providing information to financial markets.
Read more at Reuters.com Business News
Merrill launches new team for ultra-rich in Asia
(Reuters) - Bonnie Haddon-Cave will be chief operating officer of PIBG, while Joseph Lam and Vincent Shen will be private investment bankers.
Merrill is tapping a team of 11 senior investment bankers, including recently hired China specialist Margaret Ren and Indonesia investment banking head Roger Suyama, to work closely with Lam and Shen's teams.
Read more at Reuters.com Business News
Merrill is tapping a team of 11 senior investment bankers, including recently hired China specialist Margaret Ren and Indonesia investment banking head Roger Suyama, to work closely with Lam and Shen's teams.
Read more at Reuters.com Business News
Copper Gains in London as Chinese Imports Increase; Aluminum and Zinc Fall
(Bloomberg) -- Copper rose the most in six days in London after imports into China, the world's biggest user of the metal, jumped 61 percent in the first four months of the year. Aluminum and zinc declined.
China's imports of copper and copper products from January through April were 1.1 million metric tons, according to preliminary customs data issued today. Imports were 304,672 tons in April alone, compared with a record 307,740 tons in March and 180,980 tons a year ago.
Read more at Bloomberg Commodities News
China's imports of copper and copper products from January through April were 1.1 million metric tons, according to preliminary customs data issued today. Imports were 304,672 tons in April alone, compared with a record 307,740 tons in March and 180,980 tons a year ago.
Read more at Bloomberg Commodities News
ERG Plans to Halt ISAB Power Generation Plant for Maintenance This Quarter
(Bloomberg) -- ERG SpA, Italy's biggest exporter of refined oil products, said it will shut down its ISAB Energy power plant this quarter for scheduled maintenance.
Erg will also complete a fluid catalytic cracking feedstock pre-treatment plant that will begin operations at the end of June, the Genoa-based company said today in a statement issued by the Italian exchange.
Read more at Bloomberg Energy News
Erg will also complete a fluid catalytic cracking feedstock pre-treatment plant that will begin operations at the end of June, the Genoa-based company said today in a statement issued by the Italian exchange.
Read more at Bloomberg Energy News
European Mining Stocks Decline, Led by Rio; Reuters, Hanson Shares Advance
(Bloomberg) -- European mining stocks declined, led by Rio Tinto Group and Anglo American Plc, after copper prices fell to a five-week low in Shanghai.
Construction and media stocks rose after Reuters Group Plc, the world's biggest publicly traded provider of financial data, and Hanson Plc, the No. 1 maker of sand and gravel for construction, agreed to be bought. Nestle SA led food companies lower after Deutsche Bank AG cut its recommendation.
Read more at Bloomberg Stocks News
Construction and media stocks rose after Reuters Group Plc, the world's biggest publicly traded provider of financial data, and Hanson Plc, the No. 1 maker of sand and gravel for construction, agreed to be bought. Nestle SA led food companies lower after Deutsche Bank AG cut its recommendation.
Read more at Bloomberg Stocks News
Yen Rebounds as Stock Market Declines Spur Sales of Riskier Assets
(Bloomberg) -- The yen rebounded from near an 11-week low against the dollar as a slide in Asian equities caused investors to sell riskier assets.
The Japanese currency rose versus all of the 16 most-traded currencies as investors sold higher-yielding assets funded by borrowings in yen. Stock markets in China, Japan and South Korea slid today, prompting them to unwind the so-called carry trades.
Read more at Bloomberg Currencies News
The Japanese currency rose versus all of the 16 most-traded currencies as investors sold higher-yielding assets funded by borrowings in yen. Stock markets in China, Japan and South Korea slid today, prompting them to unwind the so-called carry trades.
Read more at Bloomberg Currencies News
Japan not quite ready to declare end of deflation
(Reuters) - The government had the self-imposed goal of getting the economy out of the state where prices are falling persistently before the end of March.
But the gross domestic product data for January-March, due to be released at 8:50 a.m. on Thursday, May 17 , may not be supportive enough for the government to declare the end of deflation, some officials said.
Read more at Reuters.com Economic News
But the gross domestic product data for January-March, due to be released at 8:50 a.m. on Thursday, May 17 , may not be supportive enough for the government to declare the end of deflation, some officials said.
Read more at Reuters.com Economic News
Malaysian Bonds Gain; Government Says It Isn't Worried by Yield Decline
(Bloomberg) -- Malaysian bonds gained after the government said it has no problem with the nation's currency strength and isn't worried by the plunge in domestic bond yields.
Yields on benchmark three-, five- and 10-year bonds have dropped more than half a percentage point in the past six months, falling below the central bank's overnight lending rate of 3.5 percent since end-March. The ringgit has risen 3.7 percent to 3.4003 against the dollar, near the highest in nine years.
Read more at Bloomberg Bonds News
Yields on benchmark three-, five- and 10-year bonds have dropped more than half a percentage point in the past six months, falling below the central bank's overnight lending rate of 3.5 percent since end-March. The ringgit has risen 3.7 percent to 3.4003 against the dollar, near the highest in nine years.
Read more at Bloomberg Bonds News
Congo delays start of mining contract review
(Reuters) - A government review of mining contracts in Democratic Republic of Congo due to begin on Tuesday has been delayed until early June, Deputy Minister of Mines Victor Kasongo said on Monday.
Congo, which holds a tenth of the world's copper reserves and a third of its cobalt, suspended all negotiations on future mining deals on March 27, pending the completion of the review.
Read more at Reuters Africa
Congo, which holds a tenth of the world's copper reserves and a third of its cobalt, suspended all negotiations on future mining deals on March 27, pending the completion of the review.
Read more at Reuters Africa
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