USA:
06 Sep :Jobless claims
13 Sep : FOMC rate decision
14 Sep : Industrial production
19 Sep : Housing starts
European Union (EU):
03 Sep : Eurozone PMI Manufacturing
06 Sep : ECB Interest rate decision
12 Sep : Germany’s constitutional court rules on euro bail out fund
14 Sep : Eurozone employment data
18 Sep : Spain to sell treasury bills
Continue reading Global Economic Events & Triggers – Sep2012
Gujarat NRE Coking Coal Limited announced that it has finalized a further Off Take Agreement with Jindal Steel & Power Limited (JSPL) whereby JSPL would have the option to acquire an additional 200,000 tonnes of Run of Mine coal annually from the Company at a benchmark linked market price. As part of the agreement, the Company will issue and allot a further 30,000,000 fully paid ordinary shares to Jindal Steel & Power (Mauritius) Limited at $0.25 per share raising USD 7,500,000. Based on the last traded data of the GNM scrip, this placement represnts a premium of approximately 47% to the current market price. The allotment of 30 million fully paid shares to Jindal Steel & Power (Mauritius) Limited will be done under the limit available to the Company under ASX listing Rule 7.1. Continue reading Gujarat NRE Coke Finalizes New Coal Offtake Agreement with JSPL
The People’s Bank of China (PBOC) has cut the interest rate by 25 bps in a surprise move for the first time in 4 years. Though the rate cut is not large, the timing was a surprise and the action indicates that the Chinese central bank is ready to act to prevent a much feared hard landing of the Chinese economy. The Chinese economy has faced the maximum impact from the ongoing slowdown in demand from the Euro region because the European Union (EU) is China’s single largest customer, and weak demand from EU has led to worries about the knock-on effect to domestic consumption if industrial activity loses steam dramatically. Continue reading China Cuts Interest Rate by 25 bps – First Time in 4 Years