Daily Masala

Here is what others are talking about this morning:

Asia dips amid smouldering banking sector concerns, yen stands tall

Asian stocks dipped early on Wednesday amid smouldering banking sector concerns, particularly banks in Europe, while the safe-haven yen stood atop large gains made overnight.

Gold near highest in seven-and-a-half months on safe-haven demand

 Gold was holding near a 7-1/2-month high on Wednesday as risk aversion sent investors to the safe-haven asset amid a tumble in global stock markets and concerns over the global economy.

Oil prices rebound from sharp selloff; more volatility expected

Crude oil prices pushed higher on Wednesday after Iran said it was open to cooperation with Saudi Arabia, partly recovering from an 8 percent fall in the previous session led by concerns over demand and weak equities.

Large Wind Farms in Australia to Get Boost From AGL’s New Fund

AGL Energy Ltd., Australia’s largest electricity producer, plans to use its renewable energy fund unveiled Wednesday to kick-start development of as much as A$3 billion ($2.1 billion), focusing on large wind farms.

Copper Falls as Freeport’s Indonesian Shipments to Boost Glut

Copper continued its decline after Indonesia recommended Freeport-McMoRan Inc. resume shipments from its Grasberg mine, the world’s largest in terms of capacity, potentially swelling a global glut.

Anglo American Platinum Profit Drops 86% on Writedowns

Anglo American Platinum Ltd., the world’s biggest producer of the metal, said profit fell 86 percent as it wrote down mines and operations by 14 billion rand ($876 million).

Small tea growers are forming global level common platform 

Crossing national boundaries, Small Tea Growers(STG) from almost all the tea growing countries of the world are going to form a common platform ‘Confederation of International Tea Small Holders ( CITES)’ soon to work with an objective of giving a boost to small tea farming sector that at present contributes around 65% to the total global tea production.

Biotech, the answer to edible oil shortage

The Indian edible oil industry is the world’s fourth-largest after the US, China and Brazil, accounting for close to 9 per cent of global oilseeds production. India’s consumption of edible oils has seen a steady rise due to increasing household incomes, growing population and health awareness.

 

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