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Chilean economic growth boosted by domestic spending

18th August 2017 Chile's gross domestic product grew broadly in line with expectations in the second quarter of 2017, boosted by domestic spending, the central bank said on Friday, although investment continued to lag. GDP grew by 0.7% in the second quarter from the first quarter in seasonally adjusted terms. 

WTO mixed ruling in Indonesia steel import duties case

18th August 2017 Duties imposed by Indonesia on imports of certain flat-rolled iron or steel products do not constitute WTO safeguard measures, a World Trade Organization (WTO) panel said on Friday, rejecting the key argument of complaints brought by Taiwan and Vietnam. Safeguard duties are emergency tariffs that... 

Zimbabwe tightens screws on miners' export earnings in forex crunch

18th August 2017 The Reserve Bank of Zimbabwe has ordered platinum and chrome miners to surrender 80% of their export earnings to the central bank as the country struggles to contain a crippling dollar note shortage. Previously miners in the southern African nation were required to retain 50% of their earnings. 

South Africa rate cut likely in November; possibility of September

18th August 2017 South Africa's Reserve Bank is expected to cut interest rates again in November and possibly even September given the relatively tame inflation outlook, a Reuters poll found on Friday. The central bank unexpectedly cut its repo rate by 25 basis points to 6.75% for the first time in five years in... 

Polish miner KGHM's first-half profit rise lags forecasts

18th August 2017 Polish-based copper miner KGHM reported a 66% rise in first-half net profits on Thursday but failed to meet analysts' estimates as currency effects and increased costs offset rising copper and molybdenum prices. The state-controlled firm posted a consolidated net profit of 491-million zlotys, up... 

Glencore to start importing fuel for Mexico's domestic market in Feb – oil chief

18th August 2017 Trading firm Glencore expects to start importing fuel for Mexico's domestic market in February 2018 through its own terminal in the southern state of Tabasco, the head of the firm's oil division, Alex Beard, said on Thursday. The executive said the fuel will be ultimately sold by a large network... 

BlackRock's largest mutual fund boosts energy holdings – manager

18th August 2017 BlackRock's largest mutual fund hiked its exposure to "select names" in energy as the sector has lagged this year, one of its portfolio managers said on Thursday. "The underperformance of energy stocks even as oil prices have stabilised creates opportunities for investors," wrote Russ... 

Samarco should be punished but not closed – Brazil mining minister

17th August 2017 Samarco, a joint venture between BHP Biliton and Brazil's Vale, should be punished but not closed over the 2015 collapse of a tailings dam that killed 19 people, Brazil's mining and energy minister said on Thursday. "Mistakes may have been made, but it was an accident," Fernando Coelho Filho... 

Scientists find unexpected new source for lithium

17th August 2017 Scientists have found an unexpected new source for lithium, a key component in battery-powered electric cars and other renewable energy technologies: supervolcanoes. Most of the world's lithium comes from Chile and Australia, and expanding access to the mineral is crucial for meeting demand for... 

Glencore coal miners return to work in Australia but vow more strike action

17th August 2017 Coal mine workers from seven Glencore collieries in Australia returned to work on Thursday after a four-day work stoppage, with many voting to keep up pressure on the company over wages and job security. More than 1,400 workers met in the mining hub of Singleton, New South Wales, about 200 km... 

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