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In India's northeast, heavy flooding has killed at least 34 people
Authorities and media reported on Monday that at least 34 people had died in India's Northeastern region following heavy floods and landslides during the past four days. The weather department also predicted further heavy rain. A government statement stated that more than 1,000 tourists were evacuated from the Himalayan State of Sikkim on Monday. In Meghalaya, army rescue teams were deployed to save over 500 people who were trapped in flood-ravaged areas. On Sunday, hundreds of shelters were opened in the hilly districts Rangamati and Bandarban in Bangladesh. Authorities have warned that there could be more landslides or flash floods and urged residents to stay alert. India's northeastern region and Bangladesh are both prone to torrential rainfall that can cause deadly flash floods and landslides, which affect millions of people each year. Images from ANI news agency showed that the streets and houses of Assam’s Silchar were flooded. Fallen trees littered roads. "We face a lot challenges. My child's bed is submerged under water. What would we do in this situation? Sonu Devi, a Silchar resident, told ANI that she kept herself awake all night.
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Eramet, a French company, says it will continue to work with Gabon in spite of the ban on manganese exports
Eramet is the largest shareholder of the Gabonese manganese mining company Comilog. It said that it would aim to protect the 10,460 Gabonese workers employed by Comilog as well as the Comilog railway unit Setrag. This is despite Gabon's announced ban on manganese exports starting in 2029. Eramet stated that it "takes notice of the Gabonese Government's intention to prohibit crude manganese imports from January 1, 2029. This is part of a stated goal to improve the industrial base in the country, which was initiated by H.E. "President Brice Clotaire Nguema and His Government". It acknowledged the move by the government and said that, as Comilog's main shareholder, it will continue to cooperate with the authorities in a spirit "of constructive partnership and mutual trust". Eramet temporarily stopped its manganese mines in August 2023 following the military coup which ended 56 years of former President Ali Bongo's rule. Gabon's Constitutional Court has confirmed Brice Oligui as the coup leader in April 2025. Nguema The oil-rich nation of Central Africa won the presidential election. Eramet, the world's largest manganese mine, cut its production targets in October 2024 due to a slump in the manganese markets. Comilog, a subsidiary of Eramet, processes manganese locally in Gabon, but exports most of its ore production.
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Wall Street Journal, June 2,
These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch for the accuracy of these stories. Six people were injured in Boulder, Colorado on Sunday afternoon. The FBI is investigating the incident as an act against a group that advocates the release of Gaza hostages. Australian investment manager Washington H. Soul Pattinson, and building products maker Brickworks have agreed to merge their companies into one worth $9 billion. This will cement a formal partnership that dates back almost 60 years. Palestinian health officials said that more than 20 Gazans died on their way to a U.S./Israeli aid distribution centre. This is the latest in a series of violent incidents during a chaotic launch of a new program. Homeland Security's controversial list of "Sanctuary Jurisdictions", which was created using a set of criteria, disappeared from the website over the weekend. The agency is fighting criticism from both red and blue states about the criteria that were used in its creation. Rio Tinto and a local Indigenous group have agreed on a new management strategy for its iron ore operations in the Pilbara region of Australia, where they destroyed two ancient rock-cut shelters five year ago. Stanley Fischer, one the most influential economics in recent decades who served as Vice Chairman of the Federal Reserve between 2014 and 2017, has died aged 81.
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Regional officials report that Russian attacks have killed five people in Zaporizhzhia and injured several others in Kharkiv.
Five people were killed by Russian air and shelling attacks outside Zaporizhzhia in southeast Ukraine, while an early Monday drone attack on Sumy, a region to the north of the city, injured six, including two children. Ivan Fedorov wrote on Telegram that three women were killed in a series Russian shelling attacks on the village of Ternuvate east of Zaporizhzhia on Sunday evening. A shop as well as several homes suffered severe damage. Fedorov reported that a man was killed in a nearby area in a Russian attack by a guided air bomb. Nine people were injured and one private residence was destroyed in the Russian strikes. Oleh Simehubov said Monday that two children were injured during a Russian drone strike on the Sumy Region. Sinehubov stated that "a 7-year old boy was among the victims." He also said that several buildings in the region were damaged. These attacks occur as Russia and Ukraine prepare to hold a round peace talks to try to end the conflict that Russia started with an invasion of its smaller neighbor more than three year ago. Reporting by Ron Popeski and Bogdan Kochubey; Editing by Lincoln Feast. (Writing by Ron Popeski, Lidia Kelly and Rod Nickel; Editing by Rod Nickel).
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HK-listed Chinese stocks near a one-month low; offshore yuan falls on tariff concerns
Chinese stocks listed on Hong Kong's stock exchange fell to a near-month-low on Monday, and the offshore yuan also dropped as tensions between China and the United States over tariffs continued to weigh on sentiment. The tensions between the U.S. and China over trade have risen again after a new spat about tariffs. China's Commerce Ministry has rebuked U.S. president Donald Trump's allegations that Beijing violated the Geneva consensus, calling them 'groundless' and vowing to take 'forceful measures' to protect its legitimate rights. Treasury Secretary Scott Bessent announced over the weekend that U.S. president Donald Trump and Chinese president Xi Jinping would be speaking soon to resolve trade issues, including a dispute about critical minerals. The Hang Seng China Enterprises Index (which tracks mainland companies listed on Hong Kong) fell 2.6%, the lowest level since May 6. Hong Kong's benchmark Hang Seng Index also dropped 2.2%, to 22,778.45. The offshore yuan fell by about 0.2% during Asian trading hours to 7.2193 yuan for every dollar. Meanwhile, the Hong Kong dollar remained in the lower end of the trading range between 7.75-7.85 dollars per dollar. The Mainland Markets will be closed on Monday for the Dragon Boat Festival, and resume trading on Tuesday. Hang Seng Tech Index fell 2.4% on Monday, while the property subindex, and the healthcare sector, both dropped more than 3%. New World Development, a local property company, was among the worst performers. Its shares fell 7.5% and reached a new two-month low when it delayed coupon payments. The car makers' slide continued amid concerns about the ongoing price war. Li Auto shares fell 4.2% while BYD, Nio and BYD lost over 3%.
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India reduces import taxes on crude edible oil to help lower food prices
India has halved its basic import tax for crude edible oil to 10%, according to the government. The world's largest vegetable oil importer is trying to lower food prices while also helping the local refinery industry. Crude palm oil, soya oil and crude sunflower oils are subject to a customs duty. The total import duty for the three oils will be reduced from 27.5% to 16.5%, as they are now subject to the Agriculture Infrastructure and Development Cess and Social Welfare surcharge of India. The Solvent Extractors' Association of India's (SEA) executive director, B.V. Mehta said, "This is a win for both the vegetable oil refiners and the consumers as the local prices will drop due to the reduction in duty." The government has not changed the import duty for refined palm oil or refined soyoil, which are currently subject to a 35,75% import tax. Mehta stated that the import duty difference between refined and crude oils has increased to 19,25%. This will encourage importers to bring crude edible oil instead of refined oils, and boost local refining industries. India imports more than 70% its vegetable oil. It imports palm oil, mainly from Indonesia and Malaysia, and soyoil, sunflower oil, and other oils from Argentina, Brazil and Ukraine. Sandeep Bajoria is the CEO of Sunvin Group. A vegetable oil brokerage. He said that the reduction in basic duty will bring down the price of edible oil and help to revive the retail demand which has been subdued over the past few months. (Reporting and editing by David Evans, Susan Fenton and Rajendra Jadhav)
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The plot twists of the Morning Bid Europe-Tariff story lose their bite
Wayne Cole gives us a look at what the future holds for European and global markets. Is it the dog that did not bark? Sherlock Holmes fans would ask this question given the complete lack of reaction from the market to President Donald Trump's threat to double steel and aluminum tariffs up to 50%. The policy change was announced via tweet late Friday, after the markets had closed. There were some expectations of an impact on the Canadian dollar today, given the size of the steel exports from Canada to the U.S. The loonie has actually strengthened against a generally weaker greenback. European share futures have fallen a little, and Wall St. futures are only marginally lower. Investors may be assuming that Trump always chickens out, but he is putting off the higher tariffs due to take effect on Wednesday. Last-minute cliffhangers are popular on reality television. The European Union negotiators were not pleased with the latest plot twist. They threatened retaliation and also let it be known that a court ruling against the tariffs of April 2 gave them additional "leverage". Beijing is not swayed by Trump's latest attack on China. Beijing has remained firm in its stance. Trump might have to wait a long time if he is waiting for a phone call from China's president Xi Jinping in order to resolve the situation. Ironic, too, to hear Treasury Secretary Scott Bessent complain that China is holding back vital United States products. After all it was the U.S. who started the trade war in order to rebuff Chinese imports. Speaking in South Korea, Federal Reserve Governor Christopher Waller said that tariffs posed downside risks for activity and unemployment and upside risks for inflation. He was optimistic, however, about the possibility of "good news", interest rate reductions later this year. This cemented his position as one of the most dovish Fed officials. Jerome Powell, the Fed chair, will be speaking at an international finance conference on Monday. Market developments on Monday that may have a significant impact * UK house prices and European PMIs. * Fed Chair Powell delivers opening remarks at the Federal Reserve Board International Finance Division's 75th Anniversary Conference. Chicago Fed Goolsbee, and Dallas Fed Logan take part in Q&A.
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Gold prices rise as tariff worries boost demand for safe-havens
Gold prices rose on Monday, as investors sought refuge in gold bullion due to the escalation of the Russian conflict in Ukraine and President Donald Trump’s threat to double tariffs against imported steel and aluminium. As of 0204 GMT, spot gold rose 0.5% to $3,305.85 per ounce. U.S. Gold Futures increased 0.4% to $3329.80. Tim Waterer is the chief market analyst for KCM Trade. Gold is being supported by a drop in the dollar and a decline in risk assets. Trump announced on Friday his intention to increase tariffs on steel and aluminum imports to 50%, up from 25%. The European Commission warned that Europe was prepared to take retaliatory action. Ukraine and Russia intensified hostilities in advance of their second round peace talks in Istanbul. The wave of attacks included one of Ukraine’s most daring strikes of the conflict and an overnight drone attack by Russia. Bullion is now cheaper for foreign buyers due to the 0.2% decline in the U.S. Dollar index. The markets are waiting for clues from the Federal Reserve's officials on the outlook of monetary policy. Fed Chair Jerome Powell is scheduled to speak at the end of the day. Fed Governor Christopher Waller stated that rate cuts are still possible this year, despite the Trump Administration's tariff regime likely to temporarily increase price pressures. In an environment of low interest rates, gold, which is regarded as a safe haven asset in times of geopolitical or economic uncertainty, thrives. According to Treasury Secretary Scott Bessent, Trump and Chinese president Xi Jinping will likely speak soon in order to resolve trade issues, including a dispute about critical minerals. Other than that, silver spot was unchanged at $32.99 per ounce. Platinum was down 0.6% to $1,049.72, and palladium was down 0.5% at $965.77.
Italy - Aspects to enjoy on April 4
The list below elements could affect Italian markets on Thursday.
has not confirmed the newspaper reports, and can not. attest their accuracy. New items are marked with (*).
For a complete list of diary events in Italy please click .
POLITICS
The Italian government is preparing an emergency decree to. protect the supply chain for raw materials, Italy's Market. minister Adolfo Urso stated on Wednesday.
ECONOMY
March HCOB services PMI data (0745 GMT).
COMPANIES
TELECOM ITALIA (TIM)
A Rome court has ruled in favour of the phone group in a. 15-year disagreement over the liberalisation of the telecoms sector,. buying the Italian government to return about 1 billion euros. ($ 1.1 billion) to the former monopoly, TIM said on Wednesday.
The federal government said it would attract the Supreme Court. against the ruling.
SNAM
The gas grid operator said on Wednesday it had exercised its. pre-emption right to increase its stake in Adriatic LNG, Italy's. most significant LNG terminal, to 30% from 7.3%.
MPS
Norges Bank held 3.014% in the Italian lender as of March. 28, a filing to market regulator revealed on Wednesday.
STELLANTIS
The vehicle industry will need to lower the weight of EV. batteries by 50% in the next ten years to make electrification. ecologically meaningful, the head of the carmaker stated on. Wednesday.
( *) UNIPOLSAI
The board of the Italian insurance provider stated that Unipol's proposed. takeover rate of 2.7 euros (cum dividend) per share is fair,. according to a declaration released on Wednesday.
DIARY
Rome, Economy Minister Giancarlo Giorgetti participates in meeting. with Italian volley female teams (0900 GMT).
Rome, Industry Ministry assembles conference on Stellantis'. Atessa plant with Industry Minister Adolfo Urso, representatives. from trade unions, Stellantis, automotive market. lobby ANFIA, Abruzzo area Guv Marco Marsilio (0800 GMT).
Rome, Cabinet Undersecretary Alfredo Mantovano speaks previously. intelligence parliamentary committee COPASIR (1200 GMT).
Rome, representatives from Italian Alliance for Sustainable. Development (ASviS) (1230 GMT) and municipalities association. ANCI (1240 GMT) speak before chamber of Deputies Environment and. Market committees on the proposition to update the National. Integrated Energy and Climate Plan (NIPEC).
Rome, Foreign Minister Antonio Tajani holds news. conference (1530 GMT) to present the Italy-China Mixed Economic. Commission (CEM), the bilateral Organization and Dialogue Online Forum (to. be kept in Verona on April 11-12) and the occasion celebrating the. figure of Marco Polo and relations between Italy and China. ( arranged on April 11 in Venice).
Rome, state-baked lender Cassa Depositi e Prestiti (CDP). holds board meeting on FY results.
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(source: Reuters)