Shanghai steel cuts losses, stays near six-year high amid curbs

Shanghai rebar futures pared losses on Thursday to close near a six-year peak reached in the prior session on expectations further output curbs in China could keep supply tight in the world’s top producer. On top of ongoing restrictions at industrial plants in many Chinese cities, Beijing is planning to impose production curbs for a
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MUMBAI: Colombo Port, which thrives on Indian cargo containers that passes through it, has cut transshipment rates by 9.5 per cent after India lifted cabotage restrictions in May, allowing foreign ships to operate on local routes to reduce the Country’s dependence on the neighbouring hub to transport cargo. The island nation, one of the major
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China’s steel futures pulled back after hitting their highest level since 2013 on Wednesday as news that the United States could slap higher tariffs on $200 billion of imported Chinese goods halted a rally that pushed prices 10 percent last month. But traders say Beijing’s sustained campaign to curb industrial production, including steel, to fight
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The European Union’s budget commissioner suggested on Wednesday the bloc would be ready to discuss mutual tariff cuts with the United States across a range of products, provided Washington lifts recent punitive tariffs first. Speaking before an EU delegation travels to Washington for talks on Wednesday on a long-term trade deal, Guenther Oettinger said the
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Hong Kong should take steps to develop its maritime industry, especially in terms of maritime financing and leasing, with the Financial Services Development Council (FSDC) releasing a research report setting out key recommendations for developing the sector in the city. Top among these was a tax cut, with the report suggesting Hong Kong cut profits
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An easing of financial rules will soon unleash pent-up mergers and acquisitions among mid-sized U.S. banks, according to deal bankers, analysts and bank executives. Deal activity in the sector has languished since the 2007-2009 financial crisis thanks to stricter rules on lenders with more than $50 billion in assets and aggressive enforcement of rules barring
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