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Wires

  • JOHANNESBURG, March 30- Drought conditions associated with an El Nino weather pattern are likely to reoccur in a few months time, the South African government said on Thursday. "The next summer season has increased the likelihood for the development of El Nino conditions which are often associated with drought and water scarcity as seen recently in South...

  • JAKARTA, March 30- Indonesia's government has proposed issuing a decree to govern the domestic tobacco industry, a move that could sharply raise cigarette output in the world's fourth-most populous nation, after a bill outlining the changes was opposed by the health ministry and anti-smoking groups. Teten Masduki, the chief of staff for President Joko Widodo,...

  • *OPEC compliance with announced output cut increases. LONDON, March 30- Oil prices steadied on Thursday after two days of increases as bloated U.S. inventories limited the impact of supply disruptions in Libya and lower supply from other OPEC exporters. "There is a significant chance that a short- to medium-term bottom has been found," said Tamas Varga, analyst at...

  • One day after triggering Britain's exit from the European Union, May writes in Frankfurter Allgemeine Zeitung the decision to leave the bloc "is not a rejection of the values we share as Europeans... nor an attempt to harm the European Union or its remaining member countries. Britain's chief negotiator in the country's divorce from the European Union is...

  • LONDON, March 30- Sterling fell against the dollar on Thursday, as investors awaited responses from European leaders and considered the forthcoming negotiations between Britain and the European Union, a day after Britain triggered its exit from the bloc. On Wednesday, Prime Minister Theresa May formally began to take Britain out of the European Union in a...

  • SHANGHAI, March 30- Hong Kong stocks fell on Thursday, weighed by financials and index heavyweight Tencent, with weakness in mainland stocks also hurting sentiment. The benchmark Hang Seng index dropped 0.4 percent to 24,301.09 points, while the Hong Kong China Enterprises Index lost 0.8 percent to 10,355.71. Chinese money inflow was absent as the southbound...

  • *Hyundai exec cautious about EV market. Industry executives also say tough fuel-economy and emissions regulations in the United States, Europe and China are compelling automakers to push fuel-efficient cars even though low oil prices have undercut demand. "The electric-vehicle platform will require high up-front investments but we are doing this to...

  • FRIEDRICHSHAFEN, Germany, March 30- Volkswagen's emissions scandal has reduced the German auto industry's political clout, hampering its efforts to lobby for continued tariff-free trade between Britain and the European Union, the chief executive of auto supplier ZF said. "The last two years the automotive association in Germany lost a lot of credibility,"...

  • LONDON— Britain's chief negotiator in the country's divorce from the European Union is rejecting the suggestion that the government has threatened to end security cooperation unless it gets the trade deal it wants. David Davis told the BBC that Prime Minister Theresa May's letter triggering talks on Britain's departure made clear it wants to continue to...

  • *Spain, Saxony inflation data pushes yields lower. LONDON, March 30- Most euro zone bond yields fell to multi-week lows on Thursday, as softer-than-expected inflation data from Spain and the German state of Saxony helped dampen speculation that an eventual unwinding of ECB stimulus could come sooner rather than later. "We we've had a weak inflation print from...

  • LONDON, March 30- A swing in sentiment against the euro dominated major currency markets for a second day on Thursday, weak initial readings of German regional inflation prodding the single currency back to nine-day lows against the dollar. Dollar bulls are still recovering from the collapse in faith in the Trumpflation trade caused by last week's defeat for...

  • *Toshiba wants to raise at least $9 bln from chip unit sale. Chiba, JAPAN, March 30- Toshiba Corp shareholders agreed to split off its prized NAND flash memory unit on Thursday, paving the way for a sale to raise at least $9 billion to cover U.S. nuclear unit charges that threaten the conglomerate's future. Coming a day after Westinghouse filed for bankruptcy, the...

  • BEIJING, March 30- Chinese President Xi Jinping will travel to the United States to meet President Donald Trump at his Mar-a-Lago retreat in Florida on April 6-7, China's Foreign Ministry said on Thursday, its first official confirmation of the highly anticipated summit. The summit will follow a string of other recent U.S.- China meetings and conversations...

  • *Italy seen missing privatisation target for second year. *Analysts say Italy bond yields may surge without ECB support. ROME, March 29- Italy's commitment to selling off public assets is petering out as politicians look ahead to elections early next year, making it harder to cut the country's huge public debt and leaving it vulnerable to any rise in interest...

  • *Italy seen missing privatization target for second year. *Analysts say Italy bond yields may surge without ECB support. ROME, March 29- Italy's commitment to selling off public assets is petering out as politicians look ahead to elections early next year, making it harder to cut the country's huge public debt and leaving it vulnerable to any rise in interest...

  • MELBOURNE, March 30- London copper slipped on Thursday in low-volume trade as the dollar held gains on brighter economic signals from the United States and traders waited for further U.S. and China economic cues for direction. *CHINA: China's economy, the world's second largest, will likely expand 6.8 percent in the first quarter of 2017, the official Xinhua...

  • March 30- Gold prices inched down on Thursday as the dollar strengthened, but uncertainty surrounding the impact of Britain's departure from the European Union and upcoming French elections offered support. A break of $1,240 should see short-term stop-loss sellers appearing, "said Jeffrey Halley, senior market analyst, OANDA. Prime Minister Theresa May...

  • March 30- Indian mining company Vedanta Resources Plc said on Thursday it has extended Chief Executive Tom Albanese's contract by five months until the end of August. Vedanta's executive chairman Anil Agarwal is leading the succession process to identify candidates to replace Albanese, the company said. Vedanta's shares have fallen 12.4 percent since...

  • SINGAPORE/ BEIJING, March 30- China's Zhenhua Oil is setting up an oil trading office in Singapore that will start operating in April, three sources at the company said on Thursday. "The new trading office is to serve the company's expanding business requirement and Singapore is a good platform for that," said a senior Zhenhua official said. Set up in 2003, Zhenhua, a...

  • Tom Massie, wasn't just "no" on the GOP health care bill to replace Barack Obama's Affordable Care Act. Yet in Kentucky, North Carolina, Tennessee and Iowa in the bitter aftermath of the GOP's epic failure, Republicans who blocked the legislation have won praise from constituents for stopping what many saw as a flawed plan, either in the legislation's substance or...