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India could allow commercial coal mining by foreign companies if they set up units in the country, opening the door for global giants like Rio Tinto to access the world's fifth-largest coal reserves, a source familiar with the matter said.Prime Minister Narendra Modi's decision to open commercial coal mining to private players is a key step towards bringing order to the country's chaotic power industry ...
European shares edged up and the euro hit a one-week low against the dollar on Wednesday, driven by upbeat company earnings results and hopes of corporate bond buying by the European Central Bank.Shares in Swiss engineering group ABB gained 3.1 percent after posting a bigger-than-expected rise in orders, helped by demand from the oil and gas industries. Outdoor equipment maker Husqvarna surged 6.1 ...
Gold was trading near its highest level since early September on Wednesday, supported by concerns over slower economic growth in China, although expectations Asian physical demand may slacken kept gains in check.Worries over the fate of the global economy heightened this week after China said third-quarter growth was the slowest since 2009, lifting appetite for safe-haven assets such as gold.Spot gold ...
The Shanghai Gold Exchange (SGE) is working on plans for China's first forwards and options in gold, sources say, potentially putting China ahead in the race to set an Asian pricing benchmark that might eventually rival the London gold fix.China, which overtook India last year to become the world's biggest consumer of gold, bans trading in commodity options and forwards at present to limit speculation.But ...
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