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Russian Davos begins to woo foreign investment

SAINT PETERSBURG, May 24 (AFP): Amid sanctions, counter-sanctions, and trade wars, Western firms gathered at the Saint Petersburg economic forum will need to tread nimbly with Russia, as it seeks above all to attract foreign investment. The annual event, often called the Russian Davos, used to serve as a window...

Brazil’s state-run company Petrobras cuts fuel price

RIO DE JANEIRO, May 24 (AFP): Brazil's state-controlled oil company Petrobras yielded Wednesday to pressure and temporarily reduced fuel prices after striking truckers threatened to paralyze airports and nationwide commerce. The 10 per cent price reduction will only last two weeks and was offered as a way of defusing an...

Soybeans rise due to China purchase

PARIS/SINGAPORE, May 24 (Reuters): Chicago soybeans rose for a fifth consecutive session on Thursday to a near three-week high amid signs that top importer China was set to resume purchases of U.S. supplies in an easing of trade tensions between Washington and Beijing.Corn reached a 10-month peak on concerns about...

Lead price hits highest level in three months

LONDON, May 24 (Reuters): Lead hit its highest in nearly three months on Thursday as a plunge in available LME warehouse stocks fed into this week's price rally, while copper steadied after the previous session's sharp losses.Lead is the biggest riser among industrial metals this week, climbing more than 7.0...

Soft dollar boosts gold

LONDON, May 24 (Reuters): Gold prices rose for a second session on Thursday, lifted by a weaker dollar, worries about renewed trade tensions and volatile emerging markets. Spot gold was up 0.3 per cent at $1,296.24 per ounce by 1000 GMT, after gaining nearly 0.2 per cent in the previous...

German private sector growth falls in May

BERLIN, May 24 (Xinhua): The German private sector grew at its lowest pace in 20 months in May, a closely-watched survey showed Wednesday. Markit's flash composite Purchasing Managers' Index (PMI) for Germany, which tracks the manufacturing and services sectors that account for more than two-thirds of the largest European economy,...