02132016Sat
Last update: Sat, 13 Feb 2016 01pm

Middle East & Africa

Markets - Commodities - Middle East & Africa

Anglo, BHP Billiton seen hardest hit by commodities slump JOHANNESBURG: Anglo American and BHP Billiton are expected to report far weaker earnings following the commodity price slide than their rivals among the top five global miners. The global commodity rout, which has seen crude oil and copper prices hit multi-year lows this year, has forced Anglo, Glencore and Vale SA to sell assets and cut dividends and capital spending to preserve cash and reduce debt. Within the five top miners, Rio Tinto is seen as the standout in the pack, but it is also set to face problems further down the road, analysts say. Anglo started paring back its operations in 2013 but progress has been slow, and Chief Executive Mark Cutifani has said the company would now take "bolder action". It is expected to post annual earnings before interest and tax of $1.5 billion on Feb. 16, according to Thomson Reuters I/B/E/S analysts' forecasts, down 70 percent year-on-year. ...

Markets - Commodities - Middle East & Africa

Egypt says in talks to import 3mn tonnes of wheat ABU DHABI: Egypt's state grain buyer, the General Authority for Supply Commodities, said on Tuesday it was in negotiations to secure a supply contract of 3 million tonnes of wheat. "Negotiations are ongoing now for the import of 3 million tonnes outside of the tender process," Mamdouh Abdel Fattah, Vice Chairman of GASC, told Reuters. GASC made the statement after traders said no offers were made at a tender to import wheat earlier on Tuesday, ...

Markets - Commodities - Middle East & Africa

Egypt says three wheat cargoes rejected for ergot CAIRO: Egypt has rejected a total of three wheat import shipments due to the presence of grain fungus ergot, a spokesperson for the country's agriculture ministry said on Tuesday.Egypt had already confirmed the rejection of a 63,000 tonne cargo of French wheat that had been bought by state buying agency GASC, but the agriculture ministry did not give details about the two other cargoes.Traders said the two other shipments were small volumes purchased by private ...

Markets - Commodities - Middle East & Africa

Israeli group tenders to buy corn and sorghum: trade HAMBURG: A group of Israeli private buyers has issued international tenders to purchase up to 105,000 tonnes of corn and 10,000 tonnes of the feed grain sorghum, all of optional origins, European traders said on Monday.The tenders close on Wednesday, Feb. 3, traders said.If based on European Union or Black Sea region supplies, some 25,000 tonnes of corn was sought for shipment between March 20 to April 10, 35,000 tonnes between April 20 to May ...

Markets - Commodities - Middle East & Africa

Egypt's GASC buys 235,000 T Romanian, French and Russian wheat ABU DHABI: Egypt's state grain buyer, the General Authority for Supply Commodities, said on Thursday it bought 235,000 tonnes of wheat in a tender. The wheat purchased was of Romanian, French and Russian origin, GASC Vice-Chairman Mamdouh Abdel Fattah said. He said the average price of the purchase was $189.17 a tonne cost and freight. GASC did not give details of the purchase but traders said GASC bought 60,000 tonnes of Romanian, 55,000 tonnes of ...

Markets - Commodities - Middle East & Africa

Egypt's GASC seeks wheat for Feb. 20-March 1 shipment ABU DHABI: Egypt's General Authority for Supply Commodities (GASC) set a tender on Wednesday to buy an unspecified amount of wheat from global suppliers for shipment from Feb. 20 to March 1. Mamdouh Abdel Fattah, vice chairman of GASC, is seeking to buy cargoes of soft and/or milling wheat from the United States, Canada, Australia, France, Germany, Poland, Argentina, Russia, Kazakhstan, Ukraine and Romania. Tenders should reach GASC by noon local time (1000 GMT) on ...

Markets - Commodities - Middle East & Africa

Tunisia tenders to buy durum, soft wheat and barley HAMBURG: Tunisia's state grains agency has issued an international tender to purchase 92,000 tonnes of soft milling wheat, 109,000 tonnes of durum and 50,000 tonnes of feed barley, European traders said on Wednesday. The origin was optional. The tender deadline is also Wednesday, Jan. 13, they said. Copyright Reuters, 2016 ...