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Oil prices fall on prospect of sanctions easing

LONDON, Aug 19 (Reuters): Oil prices fell on Tuesday as traders weighed the possibility that talks between Russia, Ukraine and the US to end the war in Ukraine could lead to the lifting of sanctions on Russian crude, raising supply.Brent crude futures were down 62 cents, or 0.93 per cent,...

Facing Trump tariffs, India's shrimp farmers consider switching to other businesses

HYDERABAD, India/GUAYAQUIL, Ecuador Aug 19 (Reuters): On India's southern coast, V. Srinivas thrived for two decades by farming shrimp, as the country became the top supplier of the delicacy to the United States. Now, Donald Trump's 50 per cent tariff threat is forcing many to consider other ways of making...

South African iron ore mine faces closure as ArcelorMittal crisis weighs

South Africa's Assmang is weighing the closure of its Beeshoek iron ore mine after failing to secure a contract to supply its sole customer, the ailing steel producer ArcelorMittal South Africa, reports Reuters.The closure of the mine could result in the loss of 688 jobs, Assmang - a joint venture...

Petrobras has no planned investments in ethanol, distribution with Raizen

SAO PAULO, Aug 19 (Reuters): Brazil's majority state-owned oil company Petrobras has no planned investments in ethanol production or distribution of the fuel with Raizen, the company said in a statement late on Monday.Shares in Raizen jumped earlier in the day following a weekend report from Brazilian newspaper O Globo,...

China says solar sector needs to curb overcapacity

HONG KONG, Aug 19 (Reuters): China's industry ministry said on Tuesday it held a meeting with solar industry representatives, the second in two months, as it urged the sector to strengthen regulations, curb overcapacity and reduce extreme competition among firms.Representatives at the meeting were told to "jointly promote the healthy...

Gold edges up -

Gold prices edged up on Tuesday, supported by a softer dollar and Treasury yields, as investors hunkered down for Federal Reserve Chair Jerome Powell's upcoming speech at Jackson Hole later this week, reports Reuters.Spot gold was up 0.2 per cent at $3,335.24 per ounce by 09:38 a.m. ET (1338 GMT)....