Commodities

Policy commitments made by Pakistan to continue to apply -IMF representative

Policy commitments made by Pakistan to continue to apply -IMF representative

ISLAMABAD, Oct 3 (Reuters) - The resident representative of the International Monetary Fund (IMF) said on Monday that policy commitments made by Pakistani authorities to resume the support programme continue to apply. "Policy commitments made by the Pakistani authorities as part of the Seventh and Eighth review under their IMF-support program continue to apply," IMF representative in Islamabad Esther Pérez Ruiz told Reuters.

Wheat futures retreat after nearing three-month high at CBOT

Wheat futures retreat after nearing three-month high at CBOT

* U.S. wheat crop cut fuels supply doubts as Ukraine war escalates * Corn rises on lower than expected U.S. stocks estimate * Traders await weekly USDA crop-progress data By Tom Polansek CHICAGO, Oct 3 (Reuters) - Chicago Board of Trade wheat futures fell on profit-taking on Monday after approaching a three-month high reached the previous session, traders said.

Ukraine estimates $35 bln in environment damage from Russia invasion

Ukraine estimates $35 bln in environment damage from Russia invasion

BRUSSELS, Oct 3 (Reuters) - Environmental damage in Ukraine caused by Russia's invasion was estimated at around 36 billion euros ($35.3 billion), with millions of hectares of natural reserves under threat, Ukraine's environment minister said on Monday. One fifth of protected areas in Ukraine is at risk of destruction and about 2,000 cases of environmental damages have already been recorded, the environment minister, Ruslan Strilets, said, showing slides to European Union lawmakers at a hearing i

U.S. manufacturing growth stalls amid glut of inventories: Kemp

U.S. manufacturing growth stalls amid glut of inventories: Kemp

By John Kemp LONDON, Oct 3 (Reuters) - U.S. manufacturing activity appears to be peaking as businesses struggle to digest excess inventories all along the supply chain, which will likely weigh on the economy over the next six months. The Institute for Supply Management (ISM)’s manufacturing index slipped to 50.9 (36th percentile for all months since 1980) in September, down from 52.8 (50th percentile) in August and 57.6 (84th percentile) in January.

Florida search and rescue efforts redoubled in aftermath of deadly Hurricane Ian

Florida search and rescue efforts redoubled in aftermath of deadly Hurricane Ian

By Rod Nickel FORT MYERS, Fla., Oct 3 (Reuters) - Search and rescue teams in Florida on Monday were doubling back to check on tens of thousands of homes and businesses along the Gulf Coast after completing an initial search of the area that was ravaged by Hurricane Ian, one of the most powerful storms ever to strike the United States. First responders have made a quick visit to about 45,000 homes and businesses after the Category 4 storm inundated homes and buildings with water or completely was

Biden administration monitoring Hurricane Ian's insurance industry impact

Biden administration monitoring Hurricane Ian's insurance industry impact

ABOARD AIR FORCE ONE, Oct 3 (Reuters) - The Biden administration is monitoring the impacts of Hurricane Ian on the insurance industry, a senior U.S. official told reporters. Federal Emergency Management Agency administrator Deanne Criswell made the comment to reporters traveling aboard Air Force One with President Joe Biden, who is set to tour storm-damaged Puerto Rico.

Gold rallies as dollar, yields retreat; silver jumps over 7%

Gold rallies as dollar, yields retreat; silver jumps over 7%

* Silver surges over 7% to highest since mid-August * Platinum, palladium jump over 4% * Focus on U.S. jobs data this week By Bharat Gautam Oct 3 (Reuters) - Gold prices climbed more than 1% on Monday to an over one-week peak, lifted by a dip in the dollar and U.S. bond yields, while silver surged on strong safety demand as it heads for its best day since February last year.

Gold rallies as dollar, yields retreat; silver soars over 8%

Gold rallies as dollar, yields retreat; silver soars over 8%

* Gold eyes best day since early March * Silver soars over 8% to highest since mid-August * Platinum, palladium jump By Bharat Gautam Oct 3 (Reuters) - Gold prices jumped more than 2% on Monday boosted by a dip in the U.S. dollar and bond yields, as recent lows enticed investors and also sparked a rally in silver in potentially its best day since late-2008. Spot gold XAU= climbed 2.2% to $1,696.39 per ounce, as of 1:37 p.m.

Turkey and Libyan government agree preliminary maritime energy deal

Turkey and Libyan government agree preliminary maritime energy deal

TRIPOLI, Oct 3 (Reuters) - Libya's Tripoli government signed a series of preliminary economic agreements with Turkey on Monday that included potential energy exploration in maritime areas, but Libya's eastern-based parliament rejected the move. Speaking at a ceremony in Tripoli, Turkish Foreign Minister Mevlut Cavusoglu and Libyan Foreign Minister Najla Mangoush said they had signed memorandums of understanding aimed at benefiting both countries.

EU leaders to ask Commission for gas price cap proposal -draft statement

EU leaders to ask Commission for gas price cap proposal -draft statement

(Updates throughout) By Jan Strupczewski and Kate Abnett BRUSSELS, Oct 3 (Reuters) - European Union country leaders are set to ask the European Commission to propose a cap on gas prices, when they meet on Friday, according to a draft of their joint meeting statement. The EU leaders will ask the EU executive to work urgently on actions including "proposing workable solutions to reduce prices through gas prices cap", according to the draft statement, seen by Reuters.

EU leaders to call for gas price cap to curb inflation -draft statement

EU leaders to call for gas price cap to curb inflation -draft statement

By Jan Strupczewski and Kate Abnett BRUSSELS, Oct 3 (Reuters) - European Union leaders will ask the EU's executive arm on Friday to work out how to tackle soaring inflation through a cap on gas prices in a bid to address the root cause of the EU's problems, draft conclusions of the summit showed. The call for an EU gas price cap, which Germany, Austria, the Netherlands, Hungary and Denmark have opposed, comes as the 27-nation EU is scrambling for a joint response to the unfolding cost-of-living

Morocco's trade deficit widens 56% in August

Morocco's trade deficit widens 56% in August

RABAT, Oct 3 (Reuters) - Morocco's trade deficit swelled 56.5% to 214.7 billion dirhams ($20 bln) in the first eight months this year on the back of higher energy and wheat imports, the foreign exchange regulator said on Monday. Imports rose 44.8% from a year earlier to 491.5 billion dirhams, while exports increased 37% to 276.8 billion dirhams, the regulator said in a monthly report.