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Bloomberg A cut by Rio Tinto Group to its full-year iron ore shipping guidance is set to bolster prices that have rebounded into a bull market on stronger-than-expected demand in China. Iron ore futures in Singapore surged as the world’s No. 2 exporter flagged on Tuesday that cargoes from Australia are expected at about 330mn metric tons in 2017. That’s ...

Bloomberg India’s vast rural hinterland, which makes up 70 percent of the South Asian country’s population, is showing signs of recovery from last year’s cash crunch, boosting optimism that increased spending will help the broader economy regain its vigor. The micro-finance industry is rebounding, real rural incomes are rising and unemployment is falling, according to brokerage Motilal Oswal Securities Ltd. ...

Bloomberg Home prices surged in China’s smaller cities even as property curbs dragged down values in Beijing and Shanghai in June, highlighting the challenge for authorities trying to limit bubble risks. New-home prices, excluding government-subsidized housing, rose month-on-month in 60 of 70 cities, the National Bureau of Statistics said on Tuesday. That compared with 56 in May. In Beijing, prices ...

Bloomberg Sunac China Holdings Ltd. shares and bonds plunged after a local media report that domestic banks are reviewing its credit risk following a deal to buy assets from Dalian Wanda Group Co., a firm that has attracted scrutiny from China’s leaders for its prolific deal binge. The shares fell 7.3 percent to HK$15.94, in Hong Kong after earlier plunging ...

Bloomberg US stocks fell and the dollar slid to an 11-month low as President Donald Trump’s economic revitalization agenda once again faltered. European shares dropped amid earnings disappointments, and gold climbed to the highest in two weeks. The greenback lost ground against all but one of its G-10 peers on signs Trump’s health-care reform bill is effectively dead in its ...

DUBAI / Reuters Middle East stock markets fell on Tuesday as a tumble by real est-ate developer DAMAC caused Dubai to break a seven-session ris-ing streak and weak corporate earnings helped to pull down Egypt’s bourse. The Egyptian blue chip index, which had closed at a record high on Monday, sank 1.7 percent in rising turnover – a negative technical ...

Bloomberg Ecuador has dealt a blow to OPEC unity by announcing it will start raising oil production this month, arguing it needs the money. OPEC has for years cheated on its own agreements, particularly when oil prices fail to recover after an output cut. But Ecuador has taken the rare step of saying publicly it will increase production, making it ...

Bloomberg Oil traded near $46 a barrel as crude production rebounded in Libya, an OPEC member exempt from output curbs. Futures gained 0.3 percent in New York after sliding 1.1 percent on Monday. Libya has increased output to 1.1 million barrels a day, according to a person familiar with the matter. The country will attend a meeting with some OPEC ...

Bloomberg Vitol Group, the world’s largest independent oil trader, walked away from a deal to buy a stake in the Richards Bay Coal Terminal from a company controlled by South Africa’s Gupta family. “The consortium comprising Vitol and Burgh Group Holdings will not be proceeding with the acquisition,” the commodities-trading house said in a statement. The proposed deal, first reported ...

Bloomberg Petronet LNG Ltd. sees a lifeline arriving for its loss-making Kochi liquefied natural gas import terminal by 2019 after it boosts capacity use fourfold. The only LNG terminal in southern India is operating at about 10 percent of its 5 million-ton-a-year capacity, according to Finance Director R.K. Garg. Capacity use may increase to 2 million tons annually after a ...