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Britain's FTSE-100 Index reaches 10,000 for the first time
London's blue chip FTSE 100 index reached the'symbolic 10,000 point marker for the first - time on Friday. This is the newest sign of the soaring stock markets across the globe. The S&P 500 and the STOXX 600 in Europe both outperformed the British benchmark by nearly 22 percent in 2025. The gains are largely due to a 'rally in Artificial Intelligence', which has boosted stocks around the world. However, British stock markets have a limited exposure to this sector. In 2025, the biggest winners will be miners like Fresnillo who are boosted by rising precious metals prices. Also, defense firms like Babcock and Rolls Royce, as Europe increases its defence spending. And banks such as Lloyds, who benefit from still high interest rates and decent economic growth. The FTSE, weighted-heavily towards internationally-focused companies, ?has also outperformed the domestically-focussed mid-cap FTSE 250. The latter rose by roughly 9% between 2025 and 2050. Blue-chip index still lags behind other markets like Japan, Hong Kong, Spain, and Italy. The landmark could boost sentiment towards UK markets that have been battered by political instabilities, post-Brexit uncertainties and concerns about high debt. (Reporting and editing by Dhara Raasinghe; Alun John)
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Hong Kong arrests 21, for corruption, in crackdown on building renovation
Hong Kong's anti graft agency announced on Friday that 21 people were arrested on suspicion of corruption relating to renovations at two residential estates. Hong Kong has intensified a 'crackdown on corruption related to building renovations after a fire in November which destroyed seven high-rise buildings and killed over 160 people. John Lee, Hong Kong's leader, set up an independent panel last month to investigate the fire, the construction industry and determine if there was any bid-rigging. In a press release, the Independent Commission Against Corruption said it had conducted enforcement operations against a triad corruption syndicate involved in building renovation. The?agency said that the 21 arrested included middlemen and project consultants as well as members of the Owners' Corporation of two housing estates. The contractor was suspected of bribing a project consultant and members of the owners corporation in order to get a contract worth HK$33m ($4.24m). In the other case, middlemen allegedly collected "corruptly" instruments of proxy or authorisation tickets (or authorization tickets) from homeowners in order to manipulate votes and win renovation contracts. The report did not go into detail. Building maintenance involves many stakeholders and is closely linked to the public. "The ICAC has always placed great emphasis on corruption in building maintenance", the statement stated. The ICAC's statement said that the two estates targeted by the operation last week were located in Kwun Tong, in eastern Kowloon. They are not connected to Wang Fuk court, the site of the fire on November 26. In a corruption investigation into renovations at Wang Fuk Court, the ICAC arrested 11 people. Residents were angry at the fire, which took two days to put out. Authorities claim that substandard materials used to renovate the high-rise buildings sparked the fire.
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After a stellar 2025, precious metals are kicking off the new year higher.
The precious metals market started the New Year with a bang on Friday. They resumed their rally after achieving unprecedented gains in 2025. Geopolitical tensions, and the hope of lower interest rates for this year, kept demand high. As of 0724 GMT spot gold rose 1.4%, to $4,372.35 an ounce. It had previously reached a record-high of $4,549.71 per ounce on December 26. On Wednesday, it fell to its lowest level in two weeks. U.S. Gold Futures for February Delivery gained 1% to $4,384.80/oz. Tim Waterer is the chief market analyst for KCM Trade. He said that precious metals will begin 2026 with a similar momentum as they did in 2025. Bullion's rally was spectacular in 2025. It ended the year with gains of 64 percent, its highest since 1979. The rally in gold last year was fueled by interest rate cuts, speculations about further easing from the U.S. Federal Reserve and geopolitical conflict. Central banks also increased their demand, while holdings of exchange-traded fund rose. This week, gold prices in India and China were higher than usual for the first two months, after a correction off of all-time highs lifted retail demand that had been impacted by a price surge unprecedented in history. Investors expect that the Fed will cut rates at least twice this year, despite the soft U.S. unemployment data. In low-interest rate environments, non-yielding investments tend to perform well. "Precious Metals seem to be making up for the selling that occurred earlier in the week. Waterer stated that the pressures of year-end position-squaring have ceased and that gold is now kicking off its 2026 gains with gains. Silver spot rose by 3.6% to $73.79 an ounce after reaching a record high of $83.62 per ounce on Monday. Silver surged 147% in the last year, outpacing gold. It was its best-ever year. Metals have reached multiple milestones for the first time. This is due to its status as a vital U.S. Mineral, low inventories and supply constraints, and a rise in industrial and investment demand. After reaching a record high of $2478.50 per ounce on Monday, spot platinum rose 2.5% to $2,104.10 an ounce. In 2025 it also recorded its biggest annual gain, with a 127% increase. Palladium prices rose by 2.4%, to $1,641.92 an ounce. This is the highest level in 15 years. (Reporting and editing by Rashmi aich and Subhranshu Sahu; Ishaan arora)
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ASIA GOLD - India, China switch to premiums as prices retreat from record highs
This week, gold prices in India and China were higher than they had been in the past two months. A correction from record highs has helped to boost retail demand which was hit by a price surge that was unprecedented. Indian dealers charge a premium This week, you can save up to $15 on official domestic prices - including 6% import and 3 % sales levies. Last week's discount was up to $61. On Friday, domestic gold prices were around 136.700 rupees for a?10 gram after reaching a record of 140.465 rupees the previous week. Jewellers in New Delhi reported that retail sales improved "slightly" this week, after prices dropped sharply following record highs. Gold, the international benchmark, started off the New Year on a positive note, as it resumed its rally on Friday after completing '2025 with gains totaling 64%. This was its largest gain since 1979. Many buyers are delaying purchases due to the volatility of prices and uncertainty about where the market will go, said a Mumbai bullion dealer from a private banking institution. China is the world's largest consumer of gold. The bullion price jumped from a discount, to a premium of $3 per ounce over the global benchmark spot price This week, the retail market was strong and spot prices corrected sharply. It seems (Chinese retail demand) remains robust. This is especially true if you look at the current prices. "After a price correction, the physical demand volume is still pretty strong," said Ross Norman, an independent analyst. Peter Fung, the head of trading at Wing Fung Precious Metals, stated that recent price volatility has discouraged customers, despite what is usually a very low volume of trading during the end-of-year holidays. In Singapore Gold was sold at prices that ranged from a discount price of $0.50 up to a premium of $1.20 per ounce. In Hong Kong, gold In Japan, gold bullion is sold at a premium of $1.70. Sold at the same price as spot prices
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In India's Indore, contaminated water causes 9 deaths and 200 hospitalizations
Nine people are dead and over?200 hospitalised after a 'diarrhoea outbreak' in central Indian city of Indore, officials say. The cause is contaminated water. Kailash Vijayvargiya is a legislator who said that nine people died in Indore. Madhav Prasad hasani, Indore's chief medical officer, said by phone that drinking water in the Bhagirathpur district of the city is contaminated because there was a leak. A water test confirmed the presence of bacteria in the pipeline. "I can't?say anything about the?death count but yes, over 200 people are being treated at different hospitals in the city. Hasani stated that the final report on the water sample taken from the affected area is still awaited. Shravan Verma is the district administrative officer. He said that authorities have deployed teams of doctors to do door-to-door screenings and are distributing tablets of chlorine?to purify water. Verma stated that the officials had tested 8,571 people and identified 338 mild symptoms. Indore in Madhya Pradesh has been ranked India's Cleanest City and has led the rankings of national cleanliness for the last eight years. (Editing by Raju Gopikrishnan).
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Australian gold miner Northern Star falls 11% after production forecast is cut
The shares of Australia's Northern Star Resources dropped more than 11% Friday, kicking off the?New Year in a gloomy manner, after claiming unplanned maintenance as well as operational challenges. The shares of Australia's largest listed gold producer fell as much as 11.5%, to A$23.67. This is their biggest intraday decline since late June?2022. As of 0230 GMT the stock was trading at A$24.130 and was the biggest loser on the ASX 200 index, which was up by 0.2%. Northern Star has lowered its production forecast for fiscal 2026 to between 1,600 - 1,700 kiloounces (koz), down from its previous guidance of between 1,700 and 1,850 koz. The midpoint of the new range is significantly below the Visible Alpha consensus of 1,720.3 kg, but it's slightly higher than last year's production of 1,634 kg. Perth-based Western Australia-based company has been facing a number of problems across its sites in the last quarter. These include carbon-in leach tank failures and reduced mining fleets. The company will reopen its Kalgoorlie?production?centre in January. However, throughput will remain uneven in the second half of the year as it?shifts to the expanded mill. This is scheduled to be completed in the first quarter of fiscal 2027. Northern Star's quarterly results, which will be released on the 22nd of January, will include its costs for the December quarter and a forecast for annual costs. (Reporting by Shivangi Lahiri in Bengaluru; Editing by Subhranshu Sahu)
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Oil prices rise after biggest annual decline since 2020
The oil prices rose on the first trading day in 2026, after they had suffered their worst annual decline since 2020 last year. This was due to Ukrainian 'drones' targeting Russian oil installations and a U.S. blockade that impacted Venezuelan exports. Brent crude futures rose 14 cents to $60.99 per barrel on Friday by 1:46 GMT. U.S. West Texas intermediate crude crude was up 14 cents at $57.56 per barrel. Russia and Ukraine traded accusations of attacks on civilians New Year's Day, despite intensive talks overseen?by U.S. president?Donald Trump aimed at ending the nearly four-year old?war. In recent months, Kyiv has intensified its strikes against Russian energy infrastructure to cut off Moscow’s sources of financing for the military campaign in Ukraine. Washington imposed sanctions Wednesday on four oil tankers and companies that it claimed were involved in Venezuela's oil industry. The U.S. Blockade is designed to prevent sanctioned oil tankers from entering Venezuela or leaving the country. This has forced PDVSA, Venezuela's state-owned energy company, to take extreme measures to avoid closing down refineries as fuel inventories increase. Brent and WTI benchmarks experienced annual losses of almost?20% in 2025. This was the largest since 2020 as concerns over supply and tariffs trumped geopolitical risk. Brent lost money for the third consecutive year, which is the longest streak in history. According to the Energy Information Administration, Wednesday, the United States' oil production reached a record of 13.87 million barrels a day in October. The EIA reported that last week, crude stocks dropped while gasoline and distillate inventory rose due to a robust refining industry. Reporting by Florence Tan, Editing by Tom Hogue
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Nickel Industries Australia says South Korea's Sphere will buy 10% of the Indonesian project
Nickel 'Industries, Australia's Nickel?Industries, announced on Friday that South Korea's 'Sphere Corp' will purchase a '10% stake' in the Excelsior Nickel Cobalt High-Pressure Acid Leach Plant (HPAL) Project in Indonesia for $2.4 billion. Nickel Industries, an Australian company, said that the South Korean materials manufacturer would acquire the stake in the project from Hong Kong's?Decent Resource. Nickel Industries, however, will keep its 44% stake in the project. Sphere, a supplier of special alloys to Elon Musk's SpaceX, has agreed to sell its 10% share of nickel as cathode. It also entered into a contract for the sale of additional volumes at market prices above 10%. According to Nickel Industries, the ENC HPAL Project, which is being built in Indonesia’s Central Sulawesi will be the first HPAL project with the ability to produce three Class-1 Nickel?products: mixed hydroxide?precipitate (MHP), Nickel sulphate, and Nickel cathode. The deal is made at a time when nickel prices are soaring, as Indonesia plans to reduce its mining output quotas in order to boost commodity prices. Nickel?Industries anticipates that funding will be completed in the first quarter 2026. Nichiket Sunil reported from Bengaluru, and Chris Reese edited the story.
Amman Mineral, an Indonesian copper miner, is one step closer to obtaining export permits
Amman Mineral Internasional, a copper miner in Indonesia, said Saturday that the Indonesian energy ministry had endorsed the export of 480,000 dry metric tonnes of concentrate. The recommendation is valid for six-months from October 31.
Amman Mineral requires the support of the Trade Ministry to obtain an export permit. The ministry said that Amman has not yet applied for one.
Amman, in a press release, said that the return of copper concentrate exports had allowed it to avoid overloading its storage facilities.
It added that this would allow mining to continue.
Indonesia has been banning the export of copper concentrates, raw minerals and other raw materials since mid-2023 to encourage domestic processing.
Amman, however, was permitted to export up until December 2024. By that date, it was expected to have commissioned a smelter which would process the concentrates into copper casthodes used in making wires, cables, and electronic devices.
The smelter temporarily halted operations in July and August of this year due to damage to its flash-converting furnace and sulphuric acids plant units.
Amman added that repairs could be completed in the first half 2026. The smelter was already partially operational. (Reporting and editing by Muralikumar Aantharaman; Bernadette Cristina, Stanley Widianto)
(source: Reuters)