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BHP Billiton profits slump by almost a third

Feb 24, 2015 at 07:32 | Source: BBC

Profits at mining giant BHP Billiton have been hit by the falling price of iron ore, coal, copper and other commodities. Underlying profit for the half-year to 31 December fell by 31% to $5.35bn (£3.46bn), but that was better than industry analysts ...

Vedanta Resources plans to rename Sesa Sterlite as Vedanta Ltd

Feb 20, 2015 at 18:55 | Source: FirstPost

New Delhi: Aimed at leveraging the "Vedanta" brand, metals and mining conglomerate Vedanta Resources plans to rechristen its subsidiary Sesa Sterlite Ltd as Vedanta Ltd."In order to have a better alignment with the brand Vedanta as par...

Niti Aayog, states to set up expert panels to boost agriculture: Modi

Feb 19, 2015 at 17:38 | Source: FirstPost

Suratgarh: Prime Minister Narendra Modi today asked Niti Aayog and state governments to set up expert committees on agriculture to work out a common minimum programme for providing a boost to the sector."To boost agriculture...all states and Gov...

India to explore mineral deposits off Mauritius coast

Feb 08, 2015 at 19:44 | Source: FirstPost

Kochi: India will soon start exploration of mineral deposits, mainly polymetallic sulphides, along the 10,000 sq km mid-ocean ridge off Mauritius following approval from the International Seabed Authority (ISA). "The exploration will actually be...

Budget 2015: FY16 divestment aim may be around Rs 43,000 cr

Feb 05, 2015 at 19:18 | Source: FirstPost

New Delhi: Finance Minister Arun Jaitley, in the Budget for 2015-16, is likely to target around Rs 43,000 crore from disinvestment proceeds, almost the same level that the government expects to realise from stake sale in PSUs this fiscal."The di...

Budget 2015: FY16 divestment target may be around Rs 43,000 cr

Feb 05, 2015 at 15:18 | Source: FirstPost

New Delhi: Finance Minister Arun Jaitley, in the Budget for 2015-16, is likely to target around Rs 43,000 crore from disinvestment proceeds, almost the same level that the government expects to realise from stake sale in PSUs this fiscal."The di...

Why Latin America should not squander the China boom

Feb 05, 2015 at 14:17 | Source: BBC

Aside from the Chinese who helped build the Panama Canal, and the Maoist rebels of Peru who called themselves the Shining Path, China's presence and influence in Latin America was unremarkable until the turn of the 21st Century. After 2001, when...

Mongolia profile

Feb 04, 2015 at 20:56 | Source: BBC

In 1990 Mongolia abandoned its 70-year-old Soviet-style one-party state and embraced political and economic reforms. Democracy and privatisation were enshrined in a new constitution, but the collapse of the economy after the withdrawal of Soviet supp...

Vedanta plans capex cuts, "deep restructuring" in Zambia

Jan 30, 2015 at 23:15 | Source: FirstPost

(Reuters) - Vedanta Resources Plc, hit by weaker commodity prices, said it planned "hundreds of millions of dollars" in capital spending cuts and deferrals, while looking at a "deep restructuring" of its struggling Zambian copper ...

Sesa to cut spending after fall in commodity prices

Jan 30, 2015 at 00:30 | Source: FirstPost

MUMBAI (Reuters) - Sesa Sterlite Ltd said on Thursday it was taking steps to reduce operating and capital costs, the latest miner to address the impact of sharp falls in the prices of iron ore, crude oil and other commodities.The company, which poste...

Dollar steadies before Fed, Europe slips on Greece

Jan 29, 2015 at 00:52 | Source: FirstPost

LONDON (Reuters) - Stocks and the dollar retrenched on Wednesday amid speculation the Federal Reserve will take a dovish turn in its post-meeting statement later as signs emerge that the greenback's strength is hurting company profits.Worries that G...

Calling all Harry Potter fans: Invisibility cloaks one step closer to reality, say scientists

Jan 28, 2015 at 20:37 | Source: FirstPost

Washington: New metamaterials may take engineers one step closer to building invisibility cloaks or even shields that can conceal military airplanes, scientists say.Metamaterials are artificial materials engineered to bend electromagnetic, acoustic a...

World stock markets flat; euro steadies after Syriza win in Greece

Jan 27, 2015 at 00:30 | Source: FirstPost

NEW YORK (Reuters) - The euro steadied after losing ground on Monday, suggesting confidence in the ECB's new money-printing program despite Greek election winner Syriza's pledge to take on international lenders.The victory by the Syriza party spurred...

Indo-US nuclear deal: Why is Modi pursuing what looks like a total loss in N-energy?

Jan 26, 2015 at 12:38 | Source: FirstPost

On 25 January, the airwaves were filled with self-congratulatory and self-satisfied messages about how we had won the nuke deal. Nobody was clear about what exactly we had won, and how, and why the Americans (superb negotiators) had apparently caved ...

Western diplomats pressure Congo's Kabila to end election law standoff

Jan 24, 2015 at 23:24 | Source: FirstPost

KINSHASA (Reuters) - Western diplomats met Democratic Republic of Congo President Joseph Kabila on Saturday in a bid to persuade him to drop plans for amending the country's electoral law, officials said, after the measure drew violent protests earli...

BHP Billiton cuts US shale operation as oil price falls

Jan 22, 2015 at 12:02 | Source: BBC

The falling oil price has forced the world's biggest mining company, BHP Billiton, to cut its US shale oil operation by 40%. It is reducing the number of rigs from 26 to 16 by the end of the June. However, BHP said it expected increased producti...

At least four dead in protests over possible Congo election delay

Jan 20, 2015 at 04:15 | Source: FirstPost

KINSHASA (Reuters) - At least four people were killed on Monday in clashes between security forces and protesters in Democratic Republic of Congo's capital as opposition parties tried to block a change in the law that may delay elections due in 2016....

Wall St cuts losses with energy shares as U.S. oil jumps

Jan 15, 2015 at 02:30 | Source: FirstPost

NEW YORK (Reuters) - U.S. stocks pared losses in late afternoon trading on Wednesday, led by a bounceback in energy shares as U.S. oil prices settled more than 5 percent higher.The S&P energy index was down 0.7 percent after having fallen more th...

Gold slips from 12-week high as oil, copper tumble

Jan 15, 2015 at 02:15 | Source: FirstPost

SINGAPORE (Reuters) - Gold struggled on Wednesday to hold near a 12-week high as a rout in commodities such as oil and copper took a toll on the metal, offsetting safe-haven bids arising from global growth concerns.Oil added to losses on Wednesday to...

Sensex falls for second day; ITC, metals hit

Jan 15, 2015 at 00:45 | Source: FirstPost

MUMBAI (Reuters) - The BSE Sensex fell for a second straight session on Wednesday, led by declines in ITC Ltd(ITC.NS) after the government proposed to amend anti-smoking laws, including banning the sale of loose cigarettes.Sentiment was also hit as m...

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