Global mining output in February hits three–year low; Asia continues to hold the greatest rewards

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Mining production globally registered its fourth consecutive contraction, falling 7.5 per cent year-on-year in February compared to a 3.3 per cent fall the previous month, Statistics South Africa said in a report. This registers as the largest fall in production since March 2016 when output fell 17.4 per cent year-on-year.  Diamonds, iron ore and gold […]

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India helps Mongolia launch the construction of its first oil refinery

Mongolia launched construction of its first oil refinery on Friday, a long-awaited project that is funded by India and designed to end the country’s dependence on Russian fuel. The ground-breaking ceremony was attended by Mongolian Prime Minister Khurelsukh Ukhnaa and Indian Minister of Home Affairs Rajnath Singh. The refinery, in southern Dornogovi province will be […]

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Growth outlook for emerging Asia still relatively strong, says Fitch

Economic activity in the Asia-Pacific region will broadly hold up well, even as many emerging-market Asia (EM Asia) countries are severely hit by persistently sluggish world trade due to their relative openness, Fitch Ratings said. “The outlook for EM Asia sovereign ratings in 2017 is stable, but potential vulnerabilities include increased protectionism, a stronger US […]

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Daily Masala

Here is what others are talking about this morning: Asia rides Wall St. higher, buoyant crude nears six-week highs Gold up as Fed minutes cool rate hike prospects, weigh on dollar Oil rises; Brent over $50/bbl on OPEC freeze talk, weaker dollar China smelters face lowest fees in four years as zinc market tightens The […]

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Most Asia-Pacific banks have buffers against commodity risks – Moody’s

Banks in Asia Pacific (ex-Japan) show moderate loan exposure to borrowers in commodity-related industries, with such loans making up around 7 percent of gross loans on average at end-2015, Moody’s Investors Service said ina report. However, the quality of such loans will likely continue to deteriorate, based on Moody’s assessment that energy and commodity prices […]

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