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  • JOHANNESBURG, Oct 16- South Africa's rand inched lower early on Tuesday due to profit-taking as the dollar regained some ground after sliding on poor retail sales data. The rally was sparked by the decision by Moody's to delay its review on South Africa's sovereign debt, already seen as a low risk event by investors, and was helped by the greenback's recent...

  • Oct 16- Amazon.com Inc is likely to buy an at least 7 percent to 8 percent stake in India's Future Retail Ltd through an investment arm, CNBC-TV 18 reported, citing sources. The potential deal will be next in a series of acquisitions by Amazon.com Inc in one of the fastest-growing markets in the face of competition from Walmart Inc's Flipkart.

  • LONDON, Oct 16- British engineering company Meggitt raised its estimate for 2018 organic revenue growth to 7 to 8 percent from earlier guidance of 4 to 6 percent, boosted by higher demand for its wheels, brakes, fuel tanks and other airplane parts. But the company stuck to its forecast for operating margins, saying they would be at the lower end of the range of 17.7...

  • NEW DELHI, Oct 16- India's Mangalore Refinery and Petrochemicals Ltd expects India to get a waiver from U.S. sanctions on Iranian oil exports this month, a company official said on Tuesday. The United States plans to impose new sanctions targeting Iran's oil sector on Nov. 4 to try to stop the country's involvement in conflicts in Syria and Iraq and bring Tehran to...

  • FRANKFURT, Oct 16- Germany's carmakers only have a 50 percent chance of surviving as leading players in the auto industry unless they transform to meet new regulations and adapt their supply chains, Volkswagen Chief Executive Herbert Diess said on Tuesday. The need to produce batteries and electric cars, rather than combustion engines, and the emergence of new...

  • BEIJING, Oct 16- Off-balance-sheet borrowings by Chinese local governments could be as high as 40 trillion yuan and amount to "a debt iceberg with titanic credit risks," S&P Global Ratings said in a report on Tuesday. China has said it would take steps to measure, assess and curb local government debt. As of the end of last year, China's outstanding government debt on...

  • TOKYO, Oct 16- Asian stocks rose modestly on Tuesday, gaining a firmer footing after a week of heavy losses, although cooling factory-gate inflation in China and increasing tensions between Saudi Arabia and the West have capped gains. Spreadbetters expected European stocks to open slightly higher, with Britain's FTSE edging up 0.05 percent, Germany's DAX...

  • NEW DELHI, Oct 16- India's oil demand is expected to rise by 5.8 million barrels per day by 2040, accounting for about 40 percent of the overall increase in global demand during the period, OPEC's secretary general said on Friday. "India is projected to see the largest additional oil demand and the fastest growth in the period to 2040," said Mohammed Sanusi Barkindo,...

  • SHAHJAHANPUR, India, Oct 15- Hours after a mechanised harvester chugged through the rice paddy, flames and a thick plume of black smoke rose into the twilight sky in India's northern Haryana state as farmers burned the residue to prepare for the next season's planting. Late last year, Delhi and a large part of northern India were covered in a dangerous toxic smog...

  • BEIJING, Oct 16- Off-balance-sheet borrowings by Chinese local governments could be as high as 30 trillon to 40 trillion yuan, S&P Global Ratings said in a report. Local government financing vehicles have accumulated much of such hidden debt, and while firm plans are needed to reduce these debts, progress has been limited so far, S&P said. "That's a debt iceberg with...

  • *Q3 GDP, Sept activity data due Oct 19 at 0200 GMT. BEIJING, Oct 16- At week's end, global investors and policy makers will likely be given a stark reminder of the costs of a bitter Sino-U.S. trade war, with a Reuters poll predicting that China's third-quarter growth will slow to its weakest pace since the global financial crisis. President Donald Trump's campaign to...

  • *Spot gold may fall into $1,208- $1,217/ oz range- technicals. Spot gold was little-changed at $1,226.11 an ounce at 0353 GMT. Gold touched $1,233.26 on Monday, its highest since July 26, as global stocks slid on rising tensions between Western powers and Saudi Arabia and concerns over the pace of global economic growth.

  • SINGAPORE, Oct 16- The U.S. dollar edged up on Tuesday after it was dented by weak U.S. retail sales data overnight, while New Zealand's currency gained on the back of stronger than expected inflation data. The benchmark U.S. 10 year yields consolidated at 3.16 percent on Tuesday, having hit a seven-year high of 3.26 percent on Oct. 9. "Even when U.S. equities were...

  • TOKYO, Oct 16- The World Steel Association on Tuesday doubled its 2018 and 2019 forecasts for growth in global demand for the material used in everything from cars to construction, but said that trade tensions were clouding the outlook for the sector. The caution over trade from a body that represents 85 percent of global steel will stoke concerns that the...

  • NEW YORK, Oct 16- OnDeck Capital Inc has set up a subsidiary that will provide technology and other services to banks looking to lend to small businesses online, it said on Tuesday. "We felt that given the robust demand we are seeing by the largest banks, it is not a question of if they are moving into online lending, but of when," Noah Breslow, chief executive of OnDeck, said...

  • TOKYO, Oct 16- The World Steel Association on Tuesday doubled its 2018 and 2019 forecasts for growth in global demand for the material used in everything from cars to construction, but said that trade tensions were clouding the outlook for the sector. The caution over trade from a body that represents 85 percent of global steel will stoke concerns that the...

  • TOKYO, Oct 16- Asian stocks rose modestly on Tuesday, gaining a firmer footing after a week of heavy losses, although increasing tensions between Saudi Arabia and the West have fanned geopolitical concerns and capped gains. MSCI's broadest index of Asia-Pacific shares outside Japan nudged up 0.25 percent, crawling away from a 19- month trough touched on...

  • BEIJING, Oct 16- U.S. carmaker Ford Motor Co unveiled a new China sport utility vehicle on Tuesday, and said its plan to release a spate of new models will help turn around tumbling sales in the world's top auto market from the start of next year. Ford, fighting to recover from a severe sales slump in China, will start selling the entry-level SUV, called the "Territory",...

  • BEIJING, Oct 16- China's factory-gate inflation cooled for a third straight month in September amid ebbing domestic demand, pointing to more pressure on the world's second biggest economy as it remains locked in an intensifying trade war with the United States. Indeed, economic activity has been slackening in the past few months, prompting the People's Bank of...

  • *Retail faces double whammy of tax hike and weak China demand. TOKYO, Oct 16- Japan's Nikkei rebounded on Tuesday morning supported by short covering in index heavyweights, but Apple suppliers fell on worries about slowing demand from China. Treasury secretary called for a clause to deter currency manipulation in U.S. foreign trade pacts with countries...