China’s top leadership, which is preparing to launch the 13th Five-Year Plan has announced an overarching strategy to lead the economy’s ongoing transition. President Xi Jinping said the country’s emphasis next year will be on supply-side reform, or a package of supply-side policies to release new demand and boost new productivity.
The year 2016 may prove a time in which the theoretical underpinnings of the old adage that “the best cure for low prices is low prices” is challenged, according to Morgan Stanley.
World stock markets rose, lifted by a tepid recovery in oil prices from 11-year lows amid hopes of a boost in demand as colder winter weather kicks in the northern hemisphere. European stock markets followed Asia higher
If 2015 was the year in which the growing oversupply of key commodities led to a rout in prices, will 2016 bring the point of capitulation, leading to consolidation and the start of recovery?
Jindal Steel and Power will resume mining coal from two of its stalled projects in Australia as it expects to get regulatory clearances from Canberra soon, its chief executive said.
China and Pakistan signed a financing agreement on a coal power project in the Thar Coalfield in Pakistan’s Sindh province. The project will cost in excess of $2 billion, including the exploitation of a 3.8 million tons coal mine and the construction of a 660,000-kilowatt power station near the mine.
Spurred by the prospect of an end to western sanctions, Iran has agreed to consider Indian demands for steep oil price discounts and other buying incentives, sources said, as it works to rebuild market share in a world awash with crude.