Latest news with #MiningSector
Yahoo
20 hours ago
- Business
- Yahoo
BofA lifts STOXX 600 annual target to 530 points
(Reuters) -BofA Global Research on Friday raised its year-end target for the STOXX 600 index to 530 from 500 on resilience in global growth following a U.S.-China trade truce. European equities remain close to all-time highs despite the global trade war and escalating tensions in the Israel-Iran conflict, the Wall Street brokerage said. "The main reason for the resilience, is that these events (Israel-Iran conflict, trade war) have not yet translated into a clear-cut weakening in global growth," BofA said, maintaining its "negative" stance on the region's equities. The brokerage's current target for the pan-European benchmark index still implies a nearly 1.1% downside to its Thursday close of 535.86. While a trade deal between the U.S. and China as well as a benign May U.S. inflation report have brought some relief to financial markets, pressures from tariffs and escalating tensions in the Middle East are expected to weigh on global economic growth. BofA upgraded the European mining sector to "overweight" from "marketweight", citing attractive valuations after significant underperformance, with support from a weaker dollar. The brokerage downgraded airlines to "underweight" from "marketweight", on potential risks from higher oil prices if Middle East tensions escalate.
Reuters
20 hours ago
- Business
- Reuters
BofA lifts STOXX 600 annual target to 530 points
June 20 (Reuters) - BofA Global Research on Friday raised its year-end target for the STOXX 600 (.STOXX), opens new tab index to 530 from 500 on resilience in global growth following a U.S.-China trade truce. European equities remain close to all-time highs despite the global trade war and escalating tensions in the Israel-Iran conflict, the Wall Street brokerage said. "The main reason for the resilience, is that these events (Israel-Iran conflict, trade war) have not yet translated into a clear-cut weakening in global growth," BofA said, maintaining its "negative" stance on the region's equities. The brokerage's current target for the pan-European benchmark index still implies a nearly 1.1% downside to its Thursday close of 535.86. While a trade deal between the U.S. and China as well as a benign May U.S. inflation report have brought some relief to financial markets, pressures from tariffs and escalating tensions in the Middle East are expected to weigh on global economic growth. BofA upgraded the European mining sector to "overweight" from "marketweight", citing attractive valuations after significant underperformance, with support from a weaker dollar. The brokerage downgraded airlines to "underweight" from "marketweight", on potential risks from higher oil prices if Middle East tensions escalate.
Asharq Al-Awsat
20-05-2025
- Business
- Asharq Al-Awsat
Saudi Ministry of Industry Launches Women in Mining Non-Profit Association
The Saudi Ministry of Industry and Mineral Resources announced on Tuesday the launch of the Women in Mining Association, a newly established non-profit organization dedicated to empowering Saudi women in the mining sector and enhancing their contribution to the sector's ongoing transformation. The initiative reflects the ministry's commitment to fostering the growth of non-profit organizations within the industrial and mining sectors, in recognition of their vital role supporting the Kingdom's economic and social development. The association will develop women's capabilities and equip them with advanced, sector-aligned skills. It aims to create a more diverse and inclusive work environment while enabling women to take on active roles in the sector's growth. In addition to workforce development, the association will support women-led entrepreneurial and innovative projects in mining by offering financial and technical assistance. It will also promote innovative solutions that can drive further advancement and sustainability in the sector. The launch of this association is part of a broader effort to align with the goals of Saudi Vision 2030, particularly those related to economic diversification, women's empowerment, and strengthening national capabilities across all sectors.
Time of India
08-05-2025
- Business
- Time of India
Online approval system for mining schemes in place in Raj
Jaipur: The department of mines has introduced an online approval system for mining plans and schemes with the aim of streamlining processes and enhancing transparency in the sector. The portal is already operational, and it accepts applications for mining plans related to limestone burning, masonry stone, granite, limestone crushers and quartz-feldspar from several districts, including Jaipur, Beawar, Sirohi, Baran, Banswara and Churu. "The new system eliminates the need for physical submissions and in-person visits for approvals, benefiting nearly 30,000 leaseholders and quarry license holders of minor minerals," said T Ravikant, principal secretary of mines, geology and petroleum current regulations require mining plans to be approved within 90 days, delays have been common. The digital system aims at resolving such bottlenecks."Leaseholders can now submit applications online, track their status, and receive timely approvals. The fully digital process ensures efficiency, reduces delays, and minimizes inconvenience," said Deepak Tanwar, director of work has begun to establish a Mining Sector Excellence Centre in Jaipur, as announced in the state Budget. Officials said this centre would give mining activities in Rajasthan a much-needed momentum. They highlighted the state's status as India's leading mineral-rich state, with a geological heritage spanning millions of years, including the Archaean, Tertiary, Mesozoic and Aravalli eras. The state has identified 82 types of minerals, including lead-zinc, gold-silver, copper-iron ore and limestone, with 57 being actively new centre will scientifically document and display Rajasthan's mineral wealth, including rare earth elements. Crude oil and natural gas production is also underway. "Mining Sector Excellence Centre will preserve and showcase the state's mining heritage while promoting sustainable, zero-loss mining techniques," said an official.
