South Asia

Iranian President Ebrahim Raisi, a. hardliner long seen as a possible successor to Supreme Leader. Ayatollah Ali Khamenei, was killed in a helicopter crash in. mountainous surface near the Azerbaijan border, officials and. state media stated on Monday. The helicopter was likewise carrying Foreign Minister Hossein. Amirabdollahian and 6 other travelers and crew, all of whom. perished. Here are responses to the news: SAUDI ARABIA'S KING SALMAN BIN ABDULAZIZ AND CROWN PRINCE. MOHAMMED BIN SALMAN They used acknowledgements to the acting head of the executive. authority, Mohammad Mokhber, on the death of Ibrahim Raisi,. president of the Islamic Republic of...

Iranian President Ebrahim Raisi, a. hardliner long seen as a possible follower to Supreme Leader. Ayatollah Ali Khamenei, was killed in a helicopter crash in. mountainous terrain near the Azerbaijan border, officials and. state media said on Monday. The helicopter was also carrying Foreign Minister Hossein. Amirabdollahian and six other passengers and crew, all of whom. died. Here are responses to the news: SAUDI ARABIA'S KING SALMAN BIN ABDULAZIZ AND CROWN PRINCE. MOHAMMED BIN SALMAN They offered condolences to the acting head of the executive. authority, Mohammad Mokhber, on the death of Ibrahim Raisi,. president of the Islamic Republic of...

Iranian President Ebrahim Raisi, a. hardliner long viewed as a prospective follower to Supreme Leader. Ayatollah Ali Khamenei, was killed in a helicopter crash in. mountainous surface near the Azerbaijan border, authorities and. state media stated on Monday. The helicopter was likewise bring Foreign Minister Hossein. Amirabdollahian and six other guests and crew. Here are reactions to the news: RUSSIAN PRESIDENT VLADIMIR PUTIN IN A MESSAGE: Seyed Ebrahim Raisi was an exceptional political leader whose. entire life was devoted to serving the Motherland. As a true friend of Russia, he made an indispensable. individual contribution to the advancement of great...

Iranian President Ebrahim Raisi, a hardliner and potential successor to Supreme Leader Ayatollah Ali Khamenei, was killed in a helicopter crash in mountainous terrain near the Azerbaijan border, officials and state media said on Monday. The charred wreckage of the helicopter which crashed on Sunday bring Raisi, Foreign Minister Hossein Amirabdollahian and six other travelers and crew was discovered early on Monday after an overnight search in blizzard conditions. President Raisi, the foreign minister and all the guests in the helicopter were killed in the crash, a senior Iranian authorities informed , asking not to be named because of the...

Urals unrefined discount rates to Brent narrowed amid softening freight rates for crucial paths from Russia's western ports to Asia, while outright prices for the grade dip in line with the global oil market, traders stated and computations showed on Friday. Freight rates for Aframax ships, which generally fill some 720,000 barrels of Urals crude in Primorsk or Ust-Luga for a. one-way voyage to Indian ports, eased to balance some $7 million. from some $7.5 million for April and March-loading cargoes, 2. sources stated. This is still above $5 million for the trip last. September. Rates for Suezmax tankers, which...

India's product trade deficit in April was wider than anticipated, harmed by lower exports and a surge in gold imports, federal government data revealed on Wednesday. India's April product trade deficit stood at $19.1. billion, according to a computation, higher than. financial experts' expectation of $17.23 billion, according to a. poll. In March it was $15.6 billion. India's merchandise exports in April stood at $34.99. billion, while imports were $54.09 billion, federal government information. revealed. In March, merchandise exports were $41.68 billion, while. imports stood at $57.28 billion. In April gold imports more than doubled to $3.11 billion,. compared to...

India's oil usage increased by 3.7 million tonnes (4.8%) in the first four months of 2024 compared to the very same period in 2023, according to data from the federal government's Petroleum Planning and Analysis Cell. Increased domestic usage was comparable to an additional 220,000 barrels each day (bpd), just somewhat slower than growth of 235,000 bpd in the first 4 months of 2023 and 241,000 bpd in the same duration in 2022. Growth was broadly in line with the OPEC secretariat's. projection for a full-year average boost of 230,000 bpd. ( Monthly oil market report, OPEC, May 14) Chartbook:...

The earnings from turning a barrel of crude oil into fuels in Asia is at the most affordable in 7 months, which is leading refiners to turn away from expensive Middle East grades and seek less expensive alternatives from the Americas. Refiners are being hit by the double whammy of greater rates from Saudi Arabia, the leading exporter and price-setter for much of the unrefined exported from Middle East, as well as soft need for some refined products, including commercial and transportation pillar diesel. The crack spread, or earnings margin, from making fuels from a. barrel of Middle East benchmark...

Brazilian energy major Petrobras has filled diesel from India on board a Suezmax crude oil tanker after a monthlong delay, according to shiptracking data and trade sources, the very first such shipment from India in more than a year amidst unstable freight rates for clean product tankers. The conversion of a crude oil tanker to bring clean items enabled Petrobras to deliver bigger volumes of diesel from Asia at lower expenses, with Asian sellers also seeking demand outlets outside this area, the sources stated. The bigger deliveries will likely relieve downward pressure on an oversupplied Asian diesel market and produce...

Iran and Pakistan are looking at methods to finish a longdelayed gas pipeline project between the 2 countries, Iran's Consul General to Pakistan, Hassan Nourian, stated on Monday. We see political determination from Pakistan to complete the project, he told press reporters in the southern city of Karachi. The nations signed a contract to construct the pipeline from Iran's South Fars gas field to Pakistan's Balochistan and Sindh provinces in 2010, however work on Pakistan's portion has actually been held up due to fears of U.S. sanctions. The 1,900 kilometre (1,180 mile) pipeline was indicated to supply 750 million to...

The following quotes, mergers, acquisitions and disposals were reported by 0930 GMT on Monday: ** Energy huge Shell remains in talks with Saudi Arabia's. state-owned Saudi Aramco to offer its filling station organization in. Malaysia, the second-largest such network in the country, 4. market sources familiar with the discussions said, and an offer could. be worth as much as $1 billion. ** Czech billionaire Daniel Kretinsky, French financier David. Layani, and a consortium of banks have actually all filed bids to. restructure the financial obligation of French IT company Atos, it said on. Monday, including it had currently turned down...

Brazilian energy major Petrobras has loaded diesel from India on board a Suezmax crude oil tanker after a monthlong delay, according to shiptracking information and trade sources, the very first such delivery from India in more than a year amidst unstable freight rates for clean item tankers. The conversion of a petroleum tanker to bring clean items enabled Petrobras to deliver larger volumes of diesel from Asia at lower costs, with Asian sellers also looking for need outlets outside this area, the sources said. The bigger shipments will likely alleviate down pressure on an oversupplied Asian diesel market and create...

Sri Lankan shares closed lower on Monday, dragged by financials and customer staples stocks. * The CSE All Share index settled 0.69% lower at 12,235.14 points, it lost 1.6% recently. * LOLC Finance and LOLC Holdings were the top losers on the benchmark index, falling 4.5% and 2.3%,. respectively. * Sri Lanka's brand-new economic improvement law will be. provided to parliament this week and will consist of measures to. bring in investors and increase performance, the country's state. minister of financing stated on Monday. * Trading volume on the CSE All Share index fell to 53.9. million shares from 82.8...

The United States is reviewing the strictest components of a ban on Russian diamonds from the Group of 7 significant democracies, after opposition from African countries, Indian gem polishers and New York jewellers, seven sources stated. The sanctions package, concurred in December and consisting of a. restriction across the European Union, represents one of the industry's. biggest shakeups in decades. 2 of the sources familiar with the negotiations said the. Americans had actually disconnected from G7 working groups on the. stringent controls, with one explaining them as there but not. engaging. The U.S. State Department declined to comment. A senior...

Gold prices appeared set for a 2nd consecutive weekly gain on Friday, after recent U.S. inflation information fuelled expectations that the Federal Reserve might cut interest rates two times this year, weighing on the dollar and Treasury yields. Area gold was up 0.4% at $2,384.86 per ounce, as of 0650 GMT. Bullion rates have actually gotten 1% up until now this week, having struck one-month highs in the last session. U.S. gold futures rose 0.2% at $2,389.20. The upward predisposition for gold costs might stay, with the recent run in U.S. economic information using room for the Fed to think...

Gold prices held stable on Friday and were on track for a second consecutive weekly gain, as recent U.S. financial information prompted traders to raise bets of an interest rate cut from the Federal Reserve later this year. BASICS * Area gold held its ground at $2,377.09 per ounce, as of 0114 GMT. Bullion rates increased 0.7% so far for the week. * U.S. gold futures edged 0.2% lower at $2,381.20. * The dollar index was down 0.7% for the week up until now, against its rivals, making gold more economical for other currency holders. * The variety of Americans...

Gold rates inched up on Thursday following a sharp rise in the previous session as the dollar and bond yields deteriorated after the U.S. consumer inflation data enhanced the possibility of rate cuts by the Federal Reserve as early as September. Spot gold rose 0.2% at $2,391.78 per ounce, as of 0553 GMT, after striking its greatest in over three weeks on Wednesday. U.S. gold futures rose 0.1% to $2,396.10. The dollar alleviated versus a basket of other significant currencies, making the greenback-priced bullion more economical for other currency holders. The benchmark 10-year Treasury yield also touched its least expensive...

Gold rates edged higher on Thursday, supported by a softer dollar and lower Treasury yields after information indicated cooling U.S. inflation, bolstering bets for an rate of interest cut by the Federal Reserve. BASICS * Area gold was up 0.3% at $2,393.21 per ounce, since 0043 GMT. Bullion rates rose 1% on Wednesday. * U.S. gold futures edged 0.1% higher to $2,397.60. * The dollar fell 0.2% versus a basket of other significant currencies, making gold more appealing for other currency holders. Benchmark 10-year Treasury yields strike their most affordable in a more than one month. * U.S. CPI rose...

Gold rates edged up on Wednesday, taking assistance from a weaker US dollar and lower Treasury yields, while investors awaited US customer inflation data that could use hints on how soon the Federal Reserve can cut rates of interest. Area gold rose 0.2% to $2,363.23 per ounce, as of 1155 GMT. U.S. gold futures increased 0.4% to $2,369.00. The U.S. customer price index information is due at 1230 GMT. Core inflation in April is seen increasing 0.3% month-over-month, down from 0.4% the previous month, based upon a poll. The focus of the financial markets is firmly set on the US...

India's weight in MSCI's. International Standard index, which tracks emerging market stocks, has. increased to another record high, boosting potential customers of more inflows. into its equity markets. With this, India has even more narrowed the gap with China on. the index. While China's weightage in the index will fall to 25%. from 25.4%, India's weight will rise to 19% from 18.2%. The. modifications, announced on Wednesday, will work May 31. The May evaluation will result in about $2 billion - $2.5 billion. inflows into India, Abhilash Pagaria, head of Nuvama Alternative. and Quantitative Research said. Consistent circulations from domestic...

Staterun miners Coal India and NMDC are checking out lithium mines in Chile and Australia, Secretary of Mines V.L. Kantha Rao said on Wednesday. The Indian mines ministry is likewise motivating other state-owned business, such as ONGC Videsh, to search for vital minerals overseas, Rao told reporters at the sidelines of a market conference in New Delhi. We are taking a look at four state-owned business to end up being active, he said. Last June, NMDC's unit Legacy Iron Ore had signed a lithium expedition pact with Australia's Hancock Prospecting Pty Ltd. . India will additionally take a delegation to...

Gold prices firmed on Tuesday as financiers waited for the essential inflation report this week, which can considerably affect the outlook on U.S. rate of interest. Spot gold was up 0.4% at $2,345.39 2 per ounce by 1209 GMT, after dropping 1% on Monday. U.S. gold futures increased 0.4% to $2,351.20. Gold's relatively flat efficiency today reveals that markets remain on tenterhooks and aren't willing to take an outsized view of how the incoming U.S. data will work out, stated Han Tan, primary market analyst at Exinity Group. Financiers are now looking forward to the U.S. customer price index report...

JFE Holdings prepares to ramp up abroad investments as part of a longterm drive to double profits, Japan's No. 2 steelmaker stated on Tuesday, as it posted a 21.4% increase in annual net profit but likewise flagged a. smaller boost for this year. JFE President Yoshihisa Kitano, who took the helm on April. 1, said he would speed up the business's tactical shift from. quantity to quality, however did not offer a timeframe for doubling. its company earnings, other than stating it would take more than. 3-5 years. Enhancing abroad profits is necessary to our objective of. doubling revenues, he...

Gold rates edged up for a 2nd session on Tuesday, after current economic information increased bets that the Federal Reserve would cut rate of interest later on this year. PRINCIPLES * Spot gold increased 0.2% at $2,327.11 per ounce, since 0034 GMT. U.S. gold futures firmed 0.2% to $2,336.20. * Traders are pricing in a 64% chance of a Fed rate cut in September, as per CME's FedWatch Tool. Lower rates increase the appeal of holding non-yielding bullion. * Information on Friday revealed task development in the U.S. slowed more than expected in April, while the increase in yearly salaries...