Business Times Malaysia

Gold producer plans IPO once divestmentissue is resolved

JAKARTA: Newmont Nusa Tenggara (NNT), the country's second-biggest gold producer, plans to sell a 10 per cent stake in itself for more than US$500 million (RM1.5 billion) in an initial public offering, once a contentious divestment issue is resolved, i...

No appetite for food commodities trading

FRANKFURT: German banks seem to be losing their appetite for agricultural commodities trading as public opinion turns against the investment vehicles blamed for driving up global food prices. Catastrophic droughts this summer in the US and Russia have...

Al Rajhi eyes RM100m in gold sales

AL Rajhi Bank Malaysia, which introduced its gold investment product last year, is targeting sales of close to RM100 million worth of gold this year.

Glencore-Xstrata deal terms 'must be revisited'

TORONTO: Fidelity Worldwide Investment said that while it supports Glencore International plc's STG23.8 billion (RM112.5 billion) takeover bid for Xstrata plc "in principle," the terms of the deal "need to be revisited."The investme...

BHP Billiton not ruling out production cutbacks

GLOBAL mining giant BHP Billiton yesterday warned that it could scale back production at unprofitable operations as commodity prices softened due to economic uncertainty. But BHP chief Marius Kloppers said the firm's flagship iron ore business was in g...

LME warehouse war goes global

Now we know how the clash of the titans played out in the aluminium market last December.

Gold traders turn more bullish

Eighteen of 26 surveyed by Bloomberg expect bullion to rise this week. Holdings in exchange-traded products backed by gold reached a record 2,350.8 tonnes on Wednesday, now valued at US$127.6 billion (RM407.04 billion), according to data compiled by Bloomberg.