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Mining companies operating in Mali will no longer be exempt from value-added tax during production and will only be protected from fiscal changes for a shorter period, according to a new mining code announced by the Mines Ministry on Wednesday. An opening salvo in what could be a protracted negotiation between the government and corporates over mining regulation in Africa's third-largest gold producer, the move is seen by some as a new instance of "resource nationalism" on the continent.
Based on today’s wide range and current price at 1.1085, the direction of the EUR/USD the rest of the session is likely to be determined by trader reaction to the short-term Fibonacci level at 1.1112 and the uptrending Gann angle at 1.1066.
US farmers are complaining that the government crop report did not reflect damage from extreme weather conditions in the last months, and it looks like they are right after the Pro Farmer Crop Tour is reporting significantly lower yields than the WASDE report.
The direction depends on whether the short sellers want to give in a little to trigger a short-covering rally so they can short again at better prices. Or, if the short sellers smell blood and want to punish the last of the longs while squeezing every drop of profit out of the market.
LONDON/BEIJING, Aug 22 (Reuters) - China has partially lifted restrictions on imports of gold, bullion industry sources said, loosening curbs that had stopped an estimated 300-500 tonnes of the metal worth $15-25 billion at current prices from entering the country since May. China's central bank had for several months curtailed or not granted import quotas to commercial banks responsible for most of the gold that enters the country, Reuters reported last week. Sources said those measures had possibly been designed to reduce capital outflows and bolster the yuan, which has slumped to 11-year lows against the dollar as a trade dispute with the United States batters China's economy.
Indian restaurants have come out all guns blazing against food-delivery players. For a while now, hospitality industry trade bodies have been calling out food-service aggregators (FSA) such as Zomato, Swiggy, Nearbuy, Dineout, EazyDiner, and Magicpin for their unethical business practices. On Aug. 18, the Federation of Hotel & Restaurant Associations of India (FHRAI) got behind the #LogOut movement spurred by the National Restaurant Association of India (NRAI), a grouping of over 500,000 eateries.
Investing.com - Gold prices fell on Thursday as traders were disappointed the U.S. Federal Reserve did not reveal any plans for a series rate cuts.
Generally speaking the aim of active stock picking is to find companies that provide returns that are superior to the...
The future of Spider-Man on the big screen is in doubt after Disney and Sony failed to come to a new agreement. But this could be a good thing.
The silver market has gone back and forth during the trading session on Wednesday as we continue to wait for some type of clarity when it comes to monetary policy from several central banks around the world. We know that they are all going dovish, the question is how dovish?
Ghana’s Atewa forest is one of the most beautiful and scenic landscapes in the country. It is seen as the better of only two Upland Evergreen forests left intact in the country, forming part of the six dominant vegetation zones of Ghana based on different climates zones. The Atewa forest is part of the Guinean Forests of West Africa which stretch from southern Guinea into eastern Sierra Leone and through Liberia, Côte d’Ivoire and Ghana into western Togo.
Gold markets pulled back a bit during the trading session on Wednesday but continues to find support underneath near the $1500 level. That being the case, it’s very likely that we will continue to see a lot of interest in gold as it has been such a bullish move lately.
Gold is in a long-term bull market but from time to time the market will go through periods of profit-taking and position-squaring. Additionally, traders are not always going to chase the market higher.
The futures market can turn a nickel into a fortune, a fortune into massive debt and (as an added bonus) has quite efficiently exposed pretty much every psychic out there as a fraud. To understand the futures market, we first need to understand the concept of a "futures contract." This is an investment product built around buying and selling commodities at a later date. Literally, a futures contract is an agreement to buy or sell some commodity (usually) on a given date for a given price.
Based on the early price action and the current price at 98.175, the direction of the September U.S. Dollar Index futures contract is likely to be determined by trader reaction to the Fibonacci level at 98.045.
The S&P500; fell Tuesday, down 0.8%, and U.S. 10-year Treasury yields fell 5bps to 1.55%. The market seems to have paid little attention to the U.S. president indicating he would explore” various tax reductions” to help stimulate growth, for example. Instead, investors succumbed to apprehension in rates and trade talks.
Based on the price action the past two sessions and today’s current price at $56.31, the direction of the October WTI crude oil futures contract on Wednesday is likely to be determined by trader reaction to the main 50% level at $55.72.
These rising super apps, focused on entertainment, shopping, and healthcare, target users who feel overlooked by China's biggest tech platforms.