Latest News
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Bangladesh announces new tender for the purchase of 50,000 T rice
On Thursday, traders reported that Bangladesh's state grain buyer had issued a new tender for the purchase of 50,000 metric tonnes of rice. The deadline to submit price offers is the 27th of March. After its domestic crop suffered damage last year, Bangladesh continues to purchase large quantities of rice on international markets. On March 19, a previous tender issued by Bangladesh for 50,000 tons rice will also close, while on March 11, price offers were submitted to another 50,000-ton rice tender. Floods in Bangladesh between August 2024 and October 2024 A total of 1.1 million tonnes of rice were imported by the country in order to reduce the rising prices of food. Bangladesh's latest tender is seeking price offers for nonbasmati parboiled risotto in CIF terms including ship unloading charges, for shipment into the ports of Chittagong & Mongla. The rice can be imported from anywhere in the world and must be shipped within 40 days of contract award. (Reporting and editing by Louise Heavens, Michael Hogan)
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Most Gulf markets gain on US inflation data
The Gulf's major stock exchanges rose early on Thursday due to a lower-than-expected U.S. Inflation print. However, uncertainty about tariffs continued. The U.S. consumer price index increased less than anticipated in February. However, the improvement may only be temporary due to aggressive tariffs on imported goods that will likely increase the cost of most goods over the next few months. According to LSEG, traders are currently pricing in 70 basis points more of easing until the end of the calendar year. Most regional currencies are pegged with the dollar, so decisions made by the Federal Reserve usually guide monetary policy in the Gulf Cooperation Council. Investors are now awaiting the U.S. Producer Price Index due later that day for further insight into the Fed's policy. Saudi Arabia's benchmark Index gained 0.3%. Al Rajhi Bank added 0.6%, and ACWA Power Company increased 1.2%. Saudi Ground Services, which has seen its annual profit rise sharply, was among the other companies that gained. Rasan Information Technology Co., which completed an accelerated bookbuilding process for the sale of 17.16% at 69 Riyals, also surged by more than 7%. The shopping mall operator Arabian Centres Company, however, fell 1.8% on the ex-dividend market. Dubai's main stock index rose 0.1%, with the top lender Emirates NBD increasing by 0.5%, and Parkin Company, which manages public parking in the emirates rising by 0.8%. ADNOC Gas' 1.2% increase helped the Abu Dhabi index to rise by 0.2%. Al Ramz Capital was appointed as the energy company's liquidity provider. The Qatari Index fell by 0.3%. This was due to a 6% drop in United Development Company. It is set to be its largest intraday fall since June 2023.
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South Korea's MFG bids for 140,000 t corn, traders claim
The Major Feedmill Group of South Korea (MFG) issued an international tender on Thursday to purchase animal feed corn up to 140.000 metric tons. The deadline to submit price bids in the tender is March 14, Friday. Two consignments of corn, each weighing up to 70,000 tonnes, are expected in South Korea between June and July. The corn can be sourced from South America, the United States or South Africa. They said that the MFG also seeks separate offers of up to 140,000 tonnes of corn from South America and South Africa for arrival in June and July only. Shipping of one consignment optional origin corn to South Korea for arrival on June 23 was sought from May 20 to June 8 if it is sourced from U.S. Pacific Northwest Coast, April 30 May 19 from U.S. Gulf coast, April 25-May 14, from South America, or May 5-24 if it is sourced from South Africa. The second consignment with an optional origin for arrival on July 3, South Korea, is to be shipped between May 30 and June 18 if it comes from the U.S. Pacific Northwest Coast, or between May 10 and May 29 if it comes from the U.S. Gulf. The tender is seeking price offers both in terms of outright cost per ton and freight included (c&f), or at a higher premium than the Chicago corn contract for July 2025. (Reporting and editing by Tomaszjanowski, with Michael Hogan)
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French and Benelux stocks: Factors to watch
Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. Airbus Airbus signed a letter with DRF Luftrettung on Wednesday for the purchase 10 H140 helicopters. The New York State Police also placed an order for an Airbus H160, three H145 helicopters and signed a contract with Omni to buy three H160 helicopters. Lotus Bakeries Lotus Bakeries announced Wednesday that it will expand its partnership with Mondelez International into the Ice Cream category. ID Logistics ID Logistics released its annual results for 2024 on Wednesday. Pluxee Pluxee launched its first commercial paper program, NEU CP (up to 400 millions euros), on Wednesday. Jacquet Metals Jacquet Metals published its annual results for 2024 on Wednesday. Euronext Euronext announced on Wednesday that Montea would be included in the BEL20 index from 24 March, and Galapagos would be excluded. Legrand Legrand announced a 500-million euro bond issue on Wednesday. Pan-European market data: European Equities speed guide................... FTSE Eurotop 300 index.............................. DJ STOXX index...................................... Top 10 STOXX sectors........................... Top 10 EUROSTOXX sectors...................... Top 10 Eurotop 300 sectors..................... Top 25 European pct gainers....................... Top 25 European pct losers........................ Main stock markets: Dow Jones............... Wall Street report ..... Nikkei 225............. Tokyo report............ FTSE 100............... London report........... Xetra DAX............. Frankfurt items......... CAC-40................. Paris items............ World Indices..................................... survey of world bourse outlook......... European Asset Allocation........................ News at a glance: Top News............. Equities.............. Main oil report........... Main currency report.....
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Australia regulator: household electricity bills in eastern States set to increase by 9%
The energy regulator in Australia said that electricity prices could rise by almost 9% between July and now. This would put the re-election hopes of the centre-left Government at risk, as businesses and households struggle with higher costs. After a draft decision was made to increase the default market price - the maximum energy retailer can charge customers - AER expects household power bills in Southeast Queensland, South Australia, and New South Wales to rise by between 2.5% and 8,9%. AER stated that small businesses could see an increase of between 4.2% and 8.2%. AER Chair Clare Savage stated that wholesale costs and network costs, the two major components that affect market prices, increased between 2% to 12% for many customers. Savage stated in a press release that "we have carefully scrutinized every element of (default market offers) cost stack" to ensure the prices reflect the actual costs incurred by a retailer for the supply of electricity. Savage stated that outages at coal fired power stations and low solar and wind production coupled with high demand has triggered price spikes for power in Australia. Two-thirds (or 63%) of the country's power is generated by coal and gas-fired plant. The Essential Services Commission of Victoria, which sets default prices for the state, predicted an annual average rise for households of less than 1 percent, or A$12 ($8) and for small businesses A$103 ($65). Chris Bowen, federal energy minister, said that AER's draft of the decision highlighted the urgency to integrate cheaper sources of energy such as renewables in the grid. He encouraged customers to choose the most competitive plans on the market. Bowen, in a press release, said that while the news today is mixed, it shows energy retailers are responding. Labor's government led by Anthony Albanese, which is currently in the rear of polls, will be facing a mid-May national election as it struggles with gaining support, despite numerous measures that are meant to benefit families and business.
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DHL Group CEO: Global trade will grow despite US tariffs
Tobias Meyer, CEO of the DHL Group in Germany, said that global trade will grow, but less vigorously, due to the reaction to President Donald Trump’s tariff policies. Meyer noted that this segment was experiencing positive growth. According to DHL Trade Atlas 20, prepared by the delivery company and New York University’s Stern School of Business, the global goods trade will expand at a 3.1% compound annual growth rate from 2024-2029. This is a slightly faster rate than the previous decade. DHL is the parcel shipping arm of Germany's Deutsche Post AG. It's one of the largest package delivery companies in the world. United Parcel Service, FedEx and their U.S. rivals are considered economic bellwethers as they cater to a wide range of industries in many countries. The DHL Trade Atlas states that India, Vietnam Indonesia and the Philippines will lead the trade growth between 2024 and 2029. They said that even if the U.S. government implements its entire proposed tariff increase and other countries retaliate in kind, the global trade will still grow over the next 5 years, but at a slower pace. The United States is both the largest importer of goods and second largest exporter. The U.S. shares of world exports and imports are currently 13% and 9% respectively. This is enough to make a significant impact on other countries, but not to determine the future of international trade unilaterally, according to the authors. Reporting by Lisa Baertlein, Los Angeles; Editing and proofreading by Lisa Shumaker
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CERAWEEK - US Interior Secretary urges more drilling and mining on public lands
U.S. Interior Secretary Doug Burgum said to a room full of energy executives that he wanted their industries, which include mining and drilling on America's Public Lands, to increase the amount of these activities. He told them: "We love YOU! ". Burgum's remarks at the CERAWeek conference in Houston highlighted President Donald Trump’s agenda of reducing red tape to free up fossil fuels and metals. He told the crowd, "If we are going to drill baby drill, we must also be asked to mine baby mine." Oil prices are at a three-year low, but it is unclear whether energy companies will increase investment. Burgum believes that the Trump administration could unwind 20% to 30% of the country’s regulations and estimates that this would sharply reduce the cost of oil production. He said that the National Energy Dominance Council he heads, which coordinates government policies in order to maximize production, would focus on speeding up project approvals for energy and mining projects. Burgum said that increasing the U.S.'s electricity generation and transmission capability is crucial to winning "AI arms races" with China. Burgum said that he believed that enforcing the sanctions against Iran, which aim to reduce its oil exports to zero could stop that country from funding "terrorist groups." (Reporting and editing by Leslie Adler; Timothy Gardner)
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Seafarers union: UK ship crash investigation must be transparent
The collision between a tanker ship and container ship near the English coast must be investigated transparently and with international coordination, said a union of seafarers on Wednesday. The Solong cargo ship, which was flying the Portuguese flag, collided with the Stena Impeccable, a tanker anchored in the water that carried U.S. military aircraft fuel, on Monday. The collision resulted in massive fires and explosions. The 36 crew members were brought to land. The International Transport Workers' Federation, the largest seafarers' trade union, called on all jurisdictions to work together to determine how the incident occurred. Stephen Cotton, ITF General Secretary said that "there are still many unanswered questions in the aftermath of this tragedy." (Reporting and writing by Jonathan Saul; editing by William James).
Russia targets Ukraine's power grid in 'massive' missile strike, authorities state
Blasts sounded out throughout Ukraine's capital Kyiv and other cities early on Sunday, as Russia staged its greatest rocket attack because August and targeted power facilities with the winter setting in, officials stated.
Ukrainians have been bracing for a major attack on the hobbled power system for weeks, fearing debilitating damage to the grid that would trigger long blackouts and develop mental pressure at a critical moment in the war Russia introduced in February 2022.
Another massive attack on the power system is under method. The opponent is assaulting electrical power generation and transmission centers throughout Ukraine, Ukrainian Energy Minister German Galushchenko composed on Facebook.
Air defences might be heard appealing drones over the capital in the night, and a series of effective blasts sounded out across the city centre as the rocket attack was under method in the morning.
The scale of the damage was not immediately clear. Officials cut power supply to numerous city districts, including in Kyiv, the surrounding region and Dnipropetrovsk area, in what they said was a preventative measure to prevent a rise in case of damage.
Authorities in the Volyn region in northwestern Ukraine said energy facilities had continual damage however did not fancy. Authorities typically keep info on the state of the power system since of the war.
In Mykolaiv in the south, two individuals were killed in the over night drone attack, the local governor said. Blasts shook the southeastern city of Zaporizhzhia and the Black Sea port of Odesa, Reuters witnesses stated. More blasts were reported in the areas of Kryvyi Rih in the south and Rivne in the west.
Russia introduced among the biggest air attacks: drones and missiles against serene cities, sleeping civilians, vital infrastructure, stated Foreign Minister Andrii Sybiha.
He described the strike as Moscow's true action to leaders who had communicated with President Vladimir Putin, an obvious swipe at German Chancellor Olaf Scholz, who positioned a. telephone call to the Russian leader on Friday for the first time. since late 2022.
NATO member Poland, which surrounds Ukraine to the west, stated. it had actually rushed its flying force within its airspace as a security. precaution due to the Russian attack, which it said utilized cruise. missiles, ballistic missiles and drones.
Poland triggered all offered forces and resources at his. disposal, the on-duty fighter sets were rushed, and the. ground-based air defence and radar reconnaissance systems. reached the highest state of preparedness, the functional command. of its militaries posted on X.
Ukraine's flying force prompted locals to hide, offering. regular updates on the progress of Russian cruise, ballistic and. hypersonic rockets it said were speeding through. Ukrainian air space.
In Kyiv, the roofing of a domestic structure caught fire due. to falling debris and a minimum of 2 individuals were hurt, city. officials stated on the Telegram messaging app.
Emergency services were dispatched to the scene, Kyiv's. Mayor Vitali Klitschko stated.
Russia last performed a significant missile strike on Kyiv on Aug. 26, when officials said it fired a salvo of more than 200 drones. and missiles across the country in an attack that attack killed. 7 people.
(source: Reuters)