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Oil inches up on strong demand forecasts, OPEC-led output cuts

SEOUL, Mar 06 (Reuters): Oil futures rose on Tuesday for a third session, underpinned by robust demand forecasts and as ministers from OPEC touted the strength of its agreement to cut output to bolster prices.International benchmark Brent crude futures LCOc1 were at$65.67 per barrel at 0743 GMT, up 8 cents,...

First China International Import Expo attracts global exhibitors

BEIJING, Mar 06: The first China International Import Expo (CIIE) is scheduled to open on November 05 in Shanghai and last for six days. A total of 165 countries and regions have so far designated 197 departments to coordinate the participation of their enterprises in the expo, the People's Daily...

KSA gives Air India overflight rights for its Israel routes: Netanyahu

TEL AVIV, Mar 6 (Reuters): Israeli Prime Minister Benjamin Netanyahu said on Monday that Saudi Arabia had granted Air India permission to fly over its territory on its new routes to and from Tel Aviv.There was no immediate confirmation from either Saudi officials or Air India. Netanyahu made the announcement...

Australian wheat output likely to jump 11.8pc

SYDNEY, Mar 06 (Reuters): Australia's 2018/19 wheat crop is expected to rise 11.8 per cent from the previous season, the country's chief commodity forecaster said on Tuesday, as La Nina weather conditions boost yields across the world's fourth-largest exporter.Australia will begin sowing wheat crops late next month and despite a...

Deal with excess steel capacity in global forum, OECD tells G20

PARIS, Mar 06 (Reuters): Excess steel capacity should be dealt with in a global forum for the problem to avoid an escalation of trade disputes, OECD chief Angel Gurria said on Tuesday following the Trump administration's plans to introduce import tariffs.Leaders of Group of 20 economic powers set up the...

Shanghai zinc prices fall sharply after LME inventory surge

BEIJING, Mar 06 (Reuters): Shanghai zinc prices fell to their lowest since December on Tuesday, tracking a decline on the London Metal Exchange (LME) after LME warehouse inventories rose and on-warrant zinc stocks - those not earmarked for delivery - nearly doubled.The metal, used to galvanise steel, is also coming...

Gold edges higher on US trade jitters

LONDON, Mar 06 (Reuters): Gold edged higher on Tuesday as uncertainty over the prospect of a trade war breaking out over proposed US sanctions on steel and aluminium imports boosted interest in the metal as a safe store of value, and kept the dollar under pressure. The metal remained hemmed...