http://www.ibtimes.com Latest News en http://www.ibtimes.com/markets-stocks-surge-jobs-report-points-robust-economy-2212343?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution The Dow Jones Industrial Average closed about 2 percent higher Friday, its biggest gain in three months, after U.S. jobs data suggested the economy is robust enough for the Federal Reserve to raise interest rates for the first time in nearly a decade. The S&P 500 and the Nasdaq Composite also closed with a gain of about 2 percent. http://www.ibtimes.com/markets-stocks-surge-jobs-report-points-robust-economy-2212343 Fri, 04 Dec 2015 14:30:58 -0500 http://www.ibtimes.com/russia-suspends-turkish-stream-gas-pipeline-amid-tensions-over-isis-downed-jet-oil-2209816?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution Russia has suspended construction on the Turkish Stream pipeline, which had been slated to transport natural gas from Russia to southern Europe by way of Turkey. http://www.ibtimes.com/russia-suspends-turkish-stream-gas-pipeline-amid-tensions-over-isis-downed-jet-oil-2209816 Thu, 03 Dec 2015 10:25:56 -0500 http://www.ibtimes.com/china-droughts-are-driving-down-corn-production-forecasts-worlds-second-largest-2201617?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution Beset by drought conditions in its northern reaches, China will produce about 2 percent less corn during the 2015-16 growing season than previously anticipated, according to the United Nations’ Food and Agricultural Organization. The FAO now expects the country to produce 221 million tonnes of corn instead of the forecasted 226 million tonnes. http://www.ibtimes.com/china-droughts-are-driving-down-corn-production-forecasts-worlds-second-largest-2201617 Thu, 26 Nov 2015 12:43:50 -0500 http://www.ibtimes.com/sinosteels-debt-troubles-test-chinas-willingness-bail-out-its-dinosaurs-2199687?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution The Chinese government knows full well that its state-owned behemoths belong in the dustbin of history. But it also knows that, with an uncertain economic outlook despite numerous attempts to kick-start the country's economy, the question of whether to trash companies like Sinosteel doesn't have a simple answer. http://www.ibtimes.com/sinosteels-debt-troubles-test-chinas-willingness-bail-out-its-dinosaurs-2199687 Wed, 25 Nov 2015 17:42:38 -0500 http://www.ibtimes.com/turkey-buying-oil-isis-after-downed-plane-putin-slams-islamic-states-black-market-2198214?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution The fact that Turkey shot down a Russian plane is not the only reason Russian President Vladimir Putin is furious. Since the jet fighter was downed Tuesday near the Syria-Turkey border, Putin has reiterated concerns -- already raised by other countries -- that Turkey has been buying oil smuggled from the Islamic State group. http://www.ibtimes.com/turkey-buying-oil-isis-after-downed-plane-putin-slams-islamic-states-black-market-2198214 Tue, 24 Nov 2015 12:14:11 -0500 http://www.ibtimes.com/irans-new-oil-gas-contract-terms-flexible-crude-price-risk-official-2194931?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution TEHRAN, Iran (Reuters) -- Iran's new oil and gas contracts will have flexible terms that take into account oil price fluctuations and investment risks, a senior Iranian official told Reuters Saturday. Iran is trying to lure back international oil companies to develop its vast oil and gas reserves once sanctions are lifted under a deal with world powers. Iran will announce a new development contract model at conferences in Tehran Nov. 28-29 ‎and in London in February. http://www.ibtimes.com/irans-new-oil-gas-contract-terms-flexible-crude-price-risk-official-2194931 Sat, 21 Nov 2015 08:48:00 -0500 http://www.ibtimes.com/crude-prices-historic-lows-saudi-arabia-pledges-keep-oil-coming-2174689?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution A year after the price of crude went into free fall, the Kingdom of Saudi Arabia has said that it has no plans to reduce oil drilling. In comments to the Financial Times, Saudi officials said they see no reason to slow the supply of oil in advance of an international producers' meeting in December.  http://www.ibtimes.com/crude-prices-historic-lows-saudi-arabia-pledges-keep-oil-coming-2174689 Sun, 08 Nov 2015 17:32:47 -0500 http://www.ibtimes.com/how-will-federal-budget-deal-affect-us-oil-security-2160405?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution As Middle East and Latin American countries grapple with sinking oil prices, the United States is considering a budget deal that would require the sale of 58 million barrels of oil from the emergency reserve created decades ago to shield the nation from market disruptions. While this release of crude is unlikely to directly affect oil prices, some experts say depleting the Strategic Petroleum Reserve could leave the U.S. vulnerable to unforeseen events that disrupt global oil markets. http://www.ibtimes.com/how-will-federal-budget-deal-affect-us-oil-security-2160405 Wed, 28 Oct 2015 15:27:23 -0400 http://www.ibtimes.com/indonesia-limit-freeport-mcmoran-unit-sale-local-investors-2159373?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution Indonesia plans to restrict the sale of a 10.6 percent stake in the local unit of Freeport-McMoRan, the world's biggest publicly traded copper producer, to local investors, the Jakarta Globe reported. The Elizabeth, New Jersey, company is selling the stake in Freeport Indonesia as part of a deal with the government to extend its contract to operate a copper and gold mine in Papua province. http://www.ibtimes.com/indonesia-limit-freeport-mcmoran-unit-sale-local-investors-2159373 Tue, 27 Oct 2015 20:45:25 -0400 http://www.ibtimes.com/australia-coal-mining-prime-minister-turnbull-brushes-call-ban-2157974?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution Australian Prime Minister Malcolm Turnbull brushed off a call for a ban on new coal mines by prominent citizens who claim that the country’s plan to double coal exports will be detrimental to its efforts to curb climate change. http://www.ibtimes.com/australia-coal-mining-prime-minister-turnbull-brushes-call-ban-2157974 Tue, 27 Oct 2015 08:19:03 -0400 http://www.ibtimes.com/japan-uzbekistan-sign-deals-worth-more-85-billion-2155351?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution TASHKENT, Uzbekistan (Reuters) — Japan and Uzbekistan signed deals worth more than $8.5 billion Sunday, covering the communications, energy, transport and other sectors, Uzbek President Islam Karimov said after meeting visiting Japanese Prime Minister Shinzo Abe. Japan will finance around $5 billion of those deals, Karimov said. One of the projects aims to explore the Central Asian nation's hydrocarbon reserves jointly with the Uzbek state oil and gas company Uzbekneftegaz. Another will modernize a power plant generating electricity for the Uzbek capital Tashkent. http://www.ibtimes.com/japan-uzbekistan-sign-deals-worth-more-85-billion-2155351 Sun, 25 Oct 2015 08:55:50 -0400 http://www.ibtimes.com/chinas-yantai-xinchao-buy-us-oil-fields-13-billion-2155349?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution BEIJING (Reuters) -- China's Yantai Xinchao Industry Co. Ltd. has agreed to spend about 8.3 billion yuan ($1.31 billion) to buy oil fields in Texas, the company said in a corporate filing late Saturday. The oil fields, in Howard and Borden counties, will be bought from Tall City Exploration LLC and Plymouth Petroleum LLC, Xinchao said in the filing with the Shanghai Stock Exchange. The transaction has already been approved by the U.S. Treasury Department's Committee on Foreign Investment, it added. http://www.ibtimes.com/chinas-yantai-xinchao-buy-us-oil-fields-13-billion-2155349 Sun, 25 Oct 2015 08:29:11 -0400 http://www.ibtimes.com/china-bordeaux-futures-end-party-2149850?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution HONG KONG -- All good things must come to an end: that's the lesson Bordeaux vintners are waking up to, with a heavy head. The 2000s were particularly fruitful for the makers of the world's most sought-after wines from the Bordeaux region of France. http://www.ibtimes.com/china-bordeaux-futures-end-party-2149850 Wed, 21 Oct 2015 06:50:54 -0400 http://www.ibtimes.com/typhoon-koppu-hits-philippines-expected-cause-destruction-days-2145436?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution UPDATE: 4 a.m. EDT -- Some areas of northern Philippines are flooded half a day after Typhoon Koppu made landfall, the country's weather agency said. A few more areas may flood as high water levels force authorities to open three dams. As of 4 p.m. local time, the typhoon's eye was over Santa Fe in Nueva Vizcaya province, more than 100 miles north of Manila. The rains have flooded some areas, while other areas may flood when high water in at least three dams force authorities to release water, the weather agency said. http://www.ibtimes.com/typhoon-koppu-hits-philippines-expected-cause-destruction-days-2145436 Sun, 18 Oct 2015 01:05:47 -0400 http://www.ibtimes.com/how-indias-urban-middle-class-mobile-open-eating-out-could-make-cafe-coffee-days-ipo-2132794?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution BANGALORE, India -- The Taylors had just settled down around a table, set in a semi-outdoor enclosure at a Cafe Coffee Day, located at the junction of two of the busiest roads in Bangalore's Frazer Town area. Three generations of the family were waiting for their cold coffees and chocolate cake to arrive. http://www.ibtimes.com/how-indias-urban-middle-class-mobile-open-eating-out-could-make-cafe-coffee-days-ipo-2132794 Fri, 09 Oct 2015 03:50:21 -0400 http://www.ibtimes.com/us-farm-economy-how-globalization-soured-milk-market-american-dairy-farmers-2117656?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution For much of the past decade, the international dairy market did right by Tim Leary, creating opportunity for his farm in southern Maine by linking his fortunes with ever-wealthier Asian milk drinkers. But the downside of this globalizing dairy market revealed itself this month, when Leary watched a livestock hauler whisk away 21 of his cows, destined to be milked the next morning at someone else’s facility. http://www.ibtimes.com/us-farm-economy-how-globalization-soured-milk-market-american-dairy-farmers-2117656 Tue, 29 Sep 2015 07:58:48 -0400 http://www.ibtimes.com/alcoa-biggest-us-aluminum-producer-split-2-companies-2116358?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution Alcoa Inc., the largest aluminum maker in the United States, will split itself into two publicly traded companies, the New York City-based company announced Monday. The first company, which will keep the Alcoa name, will retain its focus on Alcoa’s mining and metal production. It will handle the mining of bauxite ore, which is refined into aluminum that is used in everything from aircraft to soft-drink cans. The other spinoff will focus on high-technology products. Alcoa said it expects to complete the move in the first half of 2016. http://www.ibtimes.com/alcoa-biggest-us-aluminum-producer-split-2-companies-2116358 Mon, 28 Sep 2015 07:53:59 -0400 http://www.ibtimes.com/chiles-president-michelle-bachelet-approval-sinks-over-economic-malaise-corruption-2098204?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution Chile’s President Michelle Bachelet, leader of the country that has for years upheld a sterling reputation as South America’s most stable and prosperous democracy, is now facing a grim turnaround in her presidency. Two years after she soared to re-election in a landslide vote, her approval rating stands at a historic low of 20 percent, according to a survey released this week by Chilean opinion pollster Plaza Pública Cadem. http://www.ibtimes.com/chiles-president-michelle-bachelet-approval-sinks-over-economic-malaise-corruption-2098204 Wed, 16 Sep 2015 07:08:56 -0400 http://www.ibtimes.com/opecs-falling-oil-prices-russias-putin-tells-venezuelas-maduro-their-countries-must-2081559?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution Russian President Vladimir Putin told Venezuelan President Nicolás Maduro that their countries must team up to shore up oil prices, a spokesman for the Kremlin said, Reuters reported Thursday. Both leaders were in Beijing to attend a military parade marking the 70th anniversary of Japan's surrender at the end of World War II.  The price of a barrel of oil has dropped by half since June 2014 and continues to hover at about half the average price from the past 10 years. On Thursday, Brent crude oil was trading for roughly $51 per barrel.   http://www.ibtimes.com/opecs-falling-oil-prices-russias-putin-tells-venezuelas-maduro-their-countries-must-2081559 Thu, 03 Sep 2015 10:50:50 -0400 http://www.ibtimes.com/oil-prices-jump-10-biggest-one-day-gain-over-six-years-2072366?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution Oil futures jumped 10 percent on Thursday, in the biggest one-day gain in over six years, prompted by rallying stock markets, news of diminished supplies and apparent moves by Venezuela to try and arrange OPEC action to curb the global slump in oil prices. http://www.ibtimes.com/oil-prices-jump-10-biggest-one-day-gain-over-six-years-2072366 Thu, 27 Aug 2015 22:56:37 -0400 http://www.ibtimes.com/crude-crash-impacts-indias-efforts-boost-self-sufficiency-report-2066640?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution Crashing oil prices will hit India’s energy security efforts, and impact Indian Prime Minister Narendra Modi’s roadmap for the country to reduce dependence on oil imports by 10 percent in the next few years, local newspaper Economic Times reported Monday, citing industry executives and analysts. http://www.ibtimes.com/crude-crash-impacts-indias-efforts-boost-self-sufficiency-report-2066640 Tue, 25 Aug 2015 01:24:41 -0400 http://www.ibtimes.com/respite-commodities-dollar-wilts-china-bounces-2037498?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution LONDON (Reuters) - Oil prices steadied at $50 a barrel after a 5 percent drop and badly bruised commodity and Chinese markets were calmer generally on Tuesday, as investors attempted to shake off the recent turbulence. European stocks reversed some of the previous day's gains and safe-haven German government bonds were in demand as the region opened, but there was some respite for commodities and their related currency and share markets. http://www.ibtimes.com/respite-commodities-dollar-wilts-china-bounces-2037498 Tue, 04 Aug 2015 05:50:27 -0400 http://www.ibtimes.com/edward-snowden-did-nsa-leaks-change-politics-public-opinion-about-government-spying-1963384?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution Two years ago this month, a 29-year-old government contractor named Edward Snowden became the Daniel Ellsberg of his generation, delivering to journalists a tranche of secret documents shedding light on the government’s national security apparatus. But while Ellsberg released the Pentagon Papers detailing one specific military conflict in Southeast Asia, Snowden released details of the U.S. government’s sprawling surveillance machine that operates around the globe. http://www.ibtimes.com/edward-snowden-did-nsa-leaks-change-politics-public-opinion-about-government-spying-1963384 Thu, 11 Jun 2015 17:04:39 -0400 http://www.ibtimes.com/low-oil-prices-drive-surge-global-oil-demand-crude-supplies-remain-exceptionally-high-1962675?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution Low oil prices are driving demand for crude this year as countries and consumers take advantage of cheaper barrels. The International Energy Agency on Thursday raised its forecast for global oil demand growth in 2015, attributing the boost to the lower prices, economic recovery and a relatively cold winter. http://www.ibtimes.com/low-oil-prices-drive-surge-global-oil-demand-crude-supplies-remain-exceptionally-high-1962675 Thu, 11 Jun 2015 10:41:12 -0400 http://www.ibtimes.com/climate-change-food-security-coffee-farmers-tanzania-feel-strain-rising-temperatures-1927472?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution Hundreds of farmers in Tanzania are abandoning crops of coffee and cotton due to changes in the local climate. Instead, they’re planting more lucrative vegetables and flowers as temperatures rise and rainfall becomes less predictable. http://www.ibtimes.com/climate-change-food-security-coffee-farmers-tanzania-feel-strain-rising-temperatures-1927472 Mon, 18 May 2015 13:17:49 -0400 http://www.ibtimes.com/india-raises-sugar-import-tax-raw-sugar-attract-import-tax-1901056?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution (Reuters) - India has raised the import tax on sugar to 40 percent from 25 percent to help prop up falling local prices and protect local farmers who have not been paid by money-losing mills, the government said in a statement said on Wednesday. India also slapped the tax on imports of raw sugar that refiners turn into whites, or refined sugar, to sell in world markets. Five straight years of surplus output has led to a free fall in prices, hitting mills' financials. Sugar mills owe about 201 billion rupees ($3.18 billion) to farmers. http://www.ibtimes.com/india-raises-sugar-import-tax-raw-sugar-attract-import-tax-1901056 Wed, 29 Apr 2015 05:47:00 -0400 http://www.ibtimes.com/chinas-march-exports-slump-fuels-fears-lowest-q1-growth-6-years-1879038?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution SHANGHAI -- China’s exports fell by 14.6 percent in March, dashing predictions of a continuing rebound in the world’s second-largest economy. http://www.ibtimes.com/chinas-march-exports-slump-fuels-fears-lowest-q1-growth-6-years-1879038 Mon, 13 Apr 2015 05:37:45 -0400 http://www.ibtimes.com/goldman-sachs-morgan-stanley-commodities-trading-alarms-fed-governor-1852710?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution At a U.S. Senate committee hearing Thursday, Federal Reserve Board member Daniel Tarullo singled out Morgan Stanley and Goldman Sachs over continued trading in commodities markets, suggesting that the Dodd-Frank Act could be bolstered to limit the banks' activities in these markets. http://www.ibtimes.com/goldman-sachs-morgan-stanley-commodities-trading-alarms-fed-governor-1852710 Thu, 19 Mar 2015 13:39:00 -0400 http://www.ibtimes.com/narendra-modi-visit-indian-ocean-island-nations-bid-counter-chinas-influence-1840214?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution On Tuesday, Indian Prime Minister Narendra Modi will embark on a tour of three of India’s island neighbors as part of a charm offensive intended at veering India’s neighbors away from China's influence and to  http://www.ibtimes.com/narendra-modi-visit-indian-ocean-island-nations-bid-counter-chinas-influence-1840214 Mon, 09 Mar 2015 06:13:39 -0400 http://www.ibtimes.com/us-crude-prices-fall-40-barrel-goldman-sachs-1840196?utm_source=Public&utm_medium=Feed&utm_campaign=Distribution U.S. crude prices will likely drop to $40 a barrel in the near term, reversing recent gains in oil prices as global crude inventories begin to increase again, Goldman Sachs said. The price of crude had risen by a third this year due to supply disruptions from the Middle East and refinery slowdowns in the face of high margins. http://www.ibtimes.com/us-crude-prices-fall-40-barrel-goldman-sachs-1840196 Mon, 09 Mar 2015 05:43:07 -0400