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Oil traders sell dirty Russian crude to Asian buyers

MOSCOW, May 21 (Reuters): Trading companies Vitol and Unipec are sending around 700,000 tonnes (5.1 million barrels) of contaminated Russian oil to Asia in an attempt to place the barrels rejected by buyers in Europe, according to trading sources and ship tracking data.A key Russian pipeline to Europe, Druzhba, and...

Airbus pledges boxers’ counter-punch to new Boeing mid-jet

TOULOUSE (France), May 21 (Reuters): Airbus held out the prospect of a clash over prices to counter any decision by Boeing to launch a new aircraft in the middle of the jet market, by promising a "left hook, right hook" counter-punch with two of its existing models.US planemaker Boeing is...

British Steel on brink of collapse with 25,000 jobs at risk

LONDON, May 21 (Reuters): British Steel, the country's second largest steel producer, is on the brink of collapse unless the government agrees to provide an emergency 30 million pound ($38 million) loan by later on Tuesday, a source close to the situation said.The steelmaker, owned by investment firm Greybull Capital,...

LME dismisses Glencore complaint over access to metal in Malaysia

LONDON, May 21 (Reuters): The London Metal Exchange (LME) has dismissed a complaint from miner and commodity trader Glencore over its inability to take fast delivery of aluminum from warehouses owned by ISTIM UK in Port Klang, Malaysia, two sources familiar with the matter said on Monday.Sources had told Reuters...

Gold holds near two-week low as dollar and equities rise

BENGALURU, May 21 (Reuters): Gold fell on Tuesday, hovering near a more than two-week low touched in the previous session, as the dollar strengthened and improved risk appetite took the sheen off bullion ahead of the release of minutes from the US Federal Reserve's latest policy meeting.Spot gold eased by...

Oil price up on escalating Iran-America tensions

SINGAPORE, May 21 (Reuters): Oil prices rose on Tuesday on escalating US-Iran tensions and amid expectations that producer club OPEC will continue to withhold supply this year.But gains were checked by concerns that a prolonged trade war between Washington and Beijing could lead to a global economic slowdown. Brent crude...

EBL and IFAD Autos signs 'Supply Chain Financing" agreement

M Khorshed Anowar, Head of Retail and SME Banking of Eastern Bank Ltd (EBL), and Taskeen Ahmed, Managing Director of IFAD Autos Ltd, signing a 'Supply Chain Financing" agreement at the bank's Head Office in the city recently. Under this agreement, EBL will provide loan facilities for the end users...