Daily Masala

Here is what others are talking about this morning:

Shares shaky, oil near 12-year low on China worries

Asian shares hovered near four-year lows and oil prices languished at near 12-year lows on Tuesday as investors fretted over whether Beijing may be losing control of the economy.

U.S. crude oil prices approach 20 percent fall since beginning of the year

U.S. crude prices continued a relentless dive early on Tuesday approaching a 20 percent drop since the beginning of the year as analysts scrambled to cut their 2016 oil price forecasts and traders bet on further price falls.

China seeks to stabilize yuan, stocks still fragile

China set another firm fix for its currency on Tuesday and stepped up a verbal campaign to convince skeptical investors, and the world, that they were in control of events.

Gold edges up after 2-day decline, China concerns support

Spot gold edged higher on Tuesday, snapping two sessions of decline, as concerns over China’s economic growth and pressure on stock markets lifted the precious metal.

Iron Ore Slump Threatens $2 Billion Australian Mine

The plunge in the price of iron ore looks set to claim another casualty with Gindalbie Metals Ltd. questioning its future, as partner Anshan Iron and Steel Group Corp. considers withdrawing funds for their $2 billion mine.

China Rout Infects Aussie Resource Giants as Bond Risk Surges

Australia’s credit market is having its shakiest start to a year since at least 2008 as the prospects for resource and gaming companies are clouded by China’s market turmoil.

Shipyards Vanish as China Loses Appetite for Consuming Iron Ore

The weakening yuan and China’s waning appetite for raw materials have come around to bite the country’s shipbuilders, raising the odds that more shipyards will soon be shuttered.

Modernising India’s coal sector

What lessons have we learnt from two rounds of coal auctions? Yes, while they brought transparency to the allocation process, the policy did not break from the past. It continues to expect successful bidders to mine coal for specific end-use with a proviso that surplus coal may be offloaded in the open market.

 

 

 

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