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Oil rises on reduced US production estimate, stalled Venezuelan exports

LONDON, Mar 13 (Reuters): Oil prices rose on Wednesday, buoyed by an official forecast showing slower-than-expected US production, and as US sanctions stall exports from Venezuela.International Brent crude oil futures were at $66.89 a barrel at 0955 GMT, up 22 cents, or 0.33 per cent, from their last close.US West...

Loose tea buyers dominate

This was the last sale of the season where Loose Tea buyers dominated. There was hardly any interest from the Blenders. Prices eased for most teas and there were several withdrawals, in the weekly auction market held in the port city on Tuesday.Dusts sold well, according to a statement of...

Hong Kong's Cathay Pacific made $299 million in 2018

HONG KONG, Mar 13 (AFP): Hong Kong flag carrier Cathay Pacific on Wednesday announced a net profit of HK$2.35 billion ($299 million) last year, ending two successive annual losses as it embarks on a massive overhaul.The recovery, which compares with a $160 million loss in 2017, also came in a...

Saudi Arabia seals six private sector deals worth $3.5 billion

RIYADH, Mar 13 (Reuters): Saudi Arabia has completed six public-private partnership deals in the past two months worth around $3.5 billion, and plans at least 23 more by 2022 despite some delays in its plan to engage the private sector, the head of its privatisation body said.The government's aim to...

US working on steel, aluminum tariff relief for Mexico, Canada

WASHINGTON, Mar 13 (Reuters): The United States (US) is working on a plan to lift tariffs from Mexican and Canadian steel and aluminum but preserve the gains that domestic producers have received from the duties so far, US Trade Representative Robert Lighthizer said on Tuesday."What I'm trying to do is...

American consumer prices cool in Feb

NEW YORK, Mar 13 (AFP): The falling price of energy drove US consumer inflation in February to its slowest annual pace more than two years, according to government data released Tuesday.The dip in the Consumer Price Index marked the seventh straight decline, and supports the Federal Reserve's recent decision to...

Cotton at three-month high on trade optimism

SINGAPORE, Mar 13 (Reuters): ICE cotton futures jumped more than 2.0 per cent to a near three-month high on Tuesday, as investors bid up the natural fiber in anticipation of a possible trade deal between the United States and China, while a weaker dollar provided further support.The most active cotton...

Indonesia's Feb trade deficit seen as smallest in 5.0 months

JAKARTA, Mar 13 (Reuters): Indonesia's trade deficit is seen narrowing in February as exports continued to decline amid falling global demand and soft commodity prices, a Reuters poll showed on Wednesday.The median forecast of 13 analysts was for a $700 million trade gap in February, smaller than January's revised $1.06...