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Risk of Another Ugly U.S. Jobs Report Is Keeping Investors Wary

Investors were on edge a year ago for signs the U.S. labor market was overheating. Now they’re primed for the opposite. While Friday’s jobs report is expected to show payrolls rebounded in March following the weakest reading since 2017, economists forecast a 180,000 gain. That would be a moderation from last year’s average as business investment slows and headwinds gather. Bond investors are wary that the falloff could be sharper this year, with markets reflecting bets that a recession is looming and the Federal Reserve will play defense by cutting ...

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German institutes cut 2019 growth forecast to 0.8 percent – sources

Germany’s leading economic institutes have revised down their 2019 growth forecast for Europe’s biggest economy to 0.8 percent from a previous estimate of 1.9 percent, two sources familiar with their report to be presented on Thursday told Reuters. The sharp revision reflects the scale of the slowdown in Germany, whose economy is facing headwinds from a slowing world economy, international trade disputes and the threat of Britain leaving the European Union without a deal. The institutes’ estimates feed into the government’s own growth projections, which will be updated later this ...

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India: One More Rate Cut Seen as World’s Fastest-Growing Economy Slows

India’s central bank is on course for its most aggressive monetary policy easing in more than three years, as it seeks to support the world’s fastest-growing major economy in the face of risks both at home and abroad. The Reserve Bank of India delivered its second successive interest rate cut Thursday and said it stands ready to use all tools available to it to ensure liquidity in the banking system, after lenders failed to fully pass on the previous cut to borrowers. Economists predict the RBI will cut at least ...

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German Manufacturing Orders Collapsed in February

The downturn in German industry accelerated in February, as manufacturing orders slumped amid a sharp drop in demand from outside the eurozone, data from the Federal Statistical Office showed Thursday. Total orders for the key sector dropped 4.2% month on month in February, missing forecasts by a large margin. Economists polled by The Wall Street Journal had expected a 0.5% increase. Compared with February last year, order volumes were down 8.4%, taking account of calendar effects. The weakness was felt across the board, the German economics ministry said, as most ...

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Will Banks Become The Next Buggy Whip?

For most of the 20th century, banks were the natural place to secure small business loans. It required mounds of paperwork and lots of man-hours. When banks essentially turned off the spigot in the late 2000s — following the mortgage crisis and the post-Great Recession credit crunch – non-bank lenders seized the opportunity. Thus, FinTech companies entered the marketplace and disrupted small business finance forever. The pioneers were firms such as Biz2Credit, Boefly, and OnDeck, which started with the purpose of facilitating small business lending around the time of the ...

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Indonesia sets Mar Minas crude price at $64.78/b, up $2.36/b from Feb

Indonesia’s Ministry of Energy and Mineral Resources has set the price for Minas crude lifted in March at $64.78/b, up $2.36/b from February, according to the monthly selling price notice seen by S&P Global Platts Thursday. Other grades were raised by between 89 cents/b and $3.10/b for March. Indonesia settles its monthly ICPs retroactively. The ministry revised its crude price formula from July 1, 2018 to reflect the market value of the country’s flagship crude oil grades better. The formula is based on Platts Dated Brent plus/minus an alpha. The ...

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Mining dependents in Karnataka asks SC panel to allow free ore trade

A group of mining dependents in Karnataka has requested the Supreme Court-appointed panel to allow free iron ore trade and give preference to local ore over imports, stating that various restrictions on mining in the state have made their livelihood uncertain. Mining dependents pointed out caps on mining volume, e-auction and other restrictions have lowered the mining capacity and led to stagnation in the iron ore industry. The Supreme Court had appointed the Central Empowered Committee (CEC) to look into issues related to iron ore mining in Karnataka. “We appeal ...

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FAO Food and Agriculture Organization of Uni : Price Index holds steady

The FAO Food Price Index held broadly stable in March, as a jump in dairy prices was offset by drops in cereal, vegetable oil and sugar price quotations, according to a benchmark UN report released today. The index, which tracks monthly changes in international prices of a basket of food commodities, averaged 167 points, down two points from February and some 3.6 percent below its level in March 2018. The Food and Agriculture Organization also released new figures for the world’s cereal production and inventory levels, reflecting major upward adjustments ...

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Be bold for change – how to empower women in the maritime community

Remove structural barriers, build good networks and support quality education to ensure no woman, no girl is left behind in the maritime sector – where women remain significantly under-represented. These were some of the themes reiterated by maritime leaders speaking on the first day of the third World Maritime University (WMU) International Women’s Conference, Empowering Women in the Maritime Community, Malmö, Sweden (4-5 April), reflecting this year’s World Maritime Day theme. Opening the conference, WMU President Cleopatra Doumbia-Henry called on the whole maritime sector to “be bold for change” in ...

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Cargotec’s Opening Balance Sheet For 2019 In Accordance With New Accounting Principles And Restated 2018 Financial Information In Accordance With New Definitions

In this stock exchange release, Cargotec discloses the transition impacts of the new accounting principles for the consolidated financial statements (IFRS 16, IFRIC 23), the refined definition of service business, and changes to alternative performance measures, as well as publishes the resulting opening balance sheet for the financial year 2019 and, where applicable, the restated financial information for financial year 2018. The changes do not affect Cargotec’s outlook for 2019. Cargotec reiterates its outlook published on 8 February 2019 and expects its comparable operating profit for 2019 to improve from ...

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GAC steps up in Guyana

GAC has opened its newest company in the South American country of Guyana in response to demand for professional shipping and logistics support following the discovery of large reserves of oil and gas in its waters. Bordered by the Atlantic to the north, Brazil to the south and southwest, Venezuela to the west, and Suriname to the east, Guyana covers just 215,000 km². Oil was first struck in 2015, since then, major discoveries have been made in its deep offshore waters, with production due to start in 2020. The country ...

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Indonesia to invest $115m in Batam port

Indonesia is further upgrading Batam port with a 1.2 trillion rupiah (S$115 million) injection from state port operator Pelindo I. The investment, announced by Pelindo I president director Bambang Eka Cahyana on Tuesday (April 2), follows a visit by Vice President Jusuf Kalla to Batam earlier in the day. News of the Pelindo I investment follows hot on the heels of Malaysia’s plan to develop a multi-million-dollar project off Johor’s Port of Tanjung Pelepas to enable ships to transfer their cargo to other vessels without having to dock at the ...

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Eurogate With A Sound Balance Sheet In 2018

At today’s Annual Press Conference, the EUROGATE Group presented its business figures for the financial year 2018. The Group generated a net profit for the year of EUR 67.3 million (2017: EUR 85.2 million). The 20.9 per cent decline in earnings compared with the previous year’s level is principally due to non-recurring effects, which had significantly contributed to the operating result in 2017. At EUR 604.0 million, revenue was only slightly below the previous year (2017: EUR 607.9 million / -0.6 per cent). In summary, the year was characterised by ...

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Washington state rail bill could put 150,000 b/d of Bakken oil shipments at risk

Washington state lawmakers may soon approve a bill which could put an estimated 150,000 b/d of Bakken crude at risk of being moved through the state, potentially causing a major adjustment in domestic crude flows. The bill, which was approved by the state senate on March 3 and is awaiting House approval, sets new vapor pressure limits for Bakken crude shipped through the state, prohibiting a facility from loading or unloading any crude from a rail tank car unless the oil has a vapor pressure of less than 9 psi. ...

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US floods to delay corn planting; carryover stocks to ease market pressure: sources

Corn planting in some areas of the US is likely to be delayed after recent floods led to saturated fields, but the effect on the market will be limited because of plentiful carryover stocks, sources said. While some sources said unfavorable conditions would push plantings in some areas beyond mid-April, when plantings would normally start, an official from the South Dakota Department of Agriculture said it was difficult to estimate the extent of the delay. Last month’s floods are unlikely to affect corn prices as the US has a good ...

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