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Two more arrests were made after continued investigations into the misappropriation and stealing of K268 Million belonging to Community Mine Continuation Agreement Communities in Western Province were carried out by Special Police Forensic Criminal Investigation Team headed by Police Commissioner David Manning.
Managing Partner of Young & Williams Lawyers Gregory Sheppard, was arrested and charged with two (2) counts of false pretense and another 2 counts of conspiracy, two weeks ago after his law firm was paid K52 Million from the WPPD CMCA Trust Funds as legal fees.
Two directors of Ok Tedi Fly River Development Foundation Limited (OTFRDF), Boston Kasiman and Annie Smerewai were arrested in Ningerum, sub-station of Kiunga in Western Province early Tuesday morning.
China’s Bond Traders Reprice a Future With Tighter Liquidity
Bloomberg 2/5/2021 Bloomberg News
(Bloomberg) Chinese financial markets are adjusting to a new normal: the central bank will go to considerable lengths to reduce the risk of asset bubbles.
The People’s Bank of China tightened liquidity in the financial system and drove up rates in the money market in January. The move, which initially shocked markets, suggests that an era of cheap and plentiful funds has ended. Six out of seven analysts surveyed by Bloomberg predict the central bank will refrain from offering medium-term funds before next week’s Lunar New Year holiday, a reversal of what it did in the prior two years.
Iron ore price bounces back after sharp fall
Ponta da Madeira iron ore terminal. (
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According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China (CFR Qingdao) were changing hands for $152.65 a tonne, up nearly 2% from Tuesday’s trade.
Iron ore reached its highest level since September 2011 in mid-January, but has since declined 12% on expectations of normalizing supply from Vale, the world’s top producer, and a cooldown in record-setting demand from China.
Credit Suisse, in a note quoted by Barron’s, lifted its forecast for iron ore during the first half of the year to $170 a tonne, from a lowly $110 before and also adjusted upwards its expectations for the next three years.
Banks accused of speculating on foreign exchange taipeitimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from taipeitimes.com Daily Mail and Mail on Sunday newspapers.
HONG KONG (BLOOMBERG) - A chill swept through China's stock and bond markets on Tuesday (Jan 26) after the central bank unexpectedly withdrew funds from the financial system amid warnings about growing froth.. Read more at straitstimes.com.