Iran will help other oil producers stabilize the world market so long as fellow OPEC members recognize its right to regain lost market share, the country' oil minister said on Friday in remarks made ahead of next month's meeting of the oil exporters group. Iran, OPEC's third-largest producer, boosted output after Western sanctions were lifted in January, and had to refused to join OPEC and some non-members in an accord earlier this year to freeze production levels. "Iran will cooperate wi
China, the world’s biggest gold consumer, cut bullion imports from Hong Kong in July as the highest global prices in more than two years deterred buyers. Net purchases were 62.1 metric tons from 68.7 tons in June and 40.7 tons in the same month last year, according to data from the Hong Kong Census and Statistics Department compiled by Bloomberg. The mainland bought 101.8 tons compared with 83.4 tons in June, while exports were 39.6 tons from 14.7 tons. Mainland China doesn’t publish the data.
DroneDeploy, a San Francisco-based startup focused on helping businesses use drones, raised $20 million in Series B funding, according to TechCrunch. The company says that this new round of funding will be used for hiring, product development, and sales and marketing. The company said its technology is used in 130 countries in “every imaginable industry” and for numerous use cases, including to survey land and monitor crops, enable insurance companies to inspect roofs, help investigators
As Chinese companies go on a record $157 billion overseas buying binge, they’re collecting their corporate trophies at the cheapest levels in four years. The median price they’re paying this year amounts to 14 times the Ebitda -- or earnings before interest, taxes, depreciation and amortization -- of the target companies, down from a multiple of 16 in 2015, according to data compiled by Bloomberg. That’s a 30 percent discount to domestic mergers and acquisitions. Under Premier Li Keqiang
Glencore Plc, the miner and trader that’s sold assets and shares to cut debt, agreed a A$880 million ($670 million) deal to sell future output from an Australian copper and gold mine to Evolution Mining Ltd. Evolution, Australia’s second-largest gold producer, will receive the equivalent of 100% of future gold and 30% of copper and silver production from the Ernest Henry operation in Queensland, Glencore said Wednesday in a statement. Evolution will also take a 30% interest in the mine.
The biotech industry is a pretty volatile business, and in terms of investing, it tends to be high-risk/high-reward. Note, for example, Medivation (MDVN) shareholders who found their shares jumping 19 percent overnight upon news that Pfizer(PFE) had acquired it this week. But it’s definitely work noting the “high risk” part of the equation. That said, Brian Feroldi, writing for The Motley Fool, takes a look at three biotech companies that investor
Japan and South Korea have both recorded record high levels of lithium-ion battery exports in H1 2016, as auto companies ramp up battery consumption to power new all-electric offering... Full Story
is pleased to announce that the Company has entered into an arrangement for the purchase of up to 540,000 kilograms of carving and industrial grade jade from Quartz Creek Developmen... Full Story
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