News Archives

: Category: News Archives; Created: 17 April 2020; Hits: 474

Bank of Russia Governor Elvira Nabiullina hinted at a bigger-than-normal interest-rate cut when the central bank meets next week, stressing that monetary easing is now the “main option.”

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: Category: News Archives; Created: 16 April 2020; Hits: 497

This is precisely how a currency loses value: if there’s less stuff in an economy, but more paper money, it means all the stuff has to become more expensive relative to the paper money.

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: Category: News Archives; Created: 16 April 2020; Hits: 583

"The damage that is being done every day is enormous," Expedia and IAC Chairman Barry Diller told CNBC on Thursday.

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: Category: News Archives; Created: 16 April 2020; Hits: 573

April 16, 20 by John Jeffay

(IDEX Online) - Canada's Renard diamond mine is to remain closed, even though a coronavirus ban on its operations was lifted yesterday.

Owners Stornoway Diamond say it will remain on care and maintenance because the rough market is so depressed.

The company said 540 workers would be affected and 50 would remain on site at in the James Bay region of north-central Quebec.

Work was suspended at the mine on 24 March when the provincial government deemed it a non-essential service.

Stornoway blamed the collapse in diamond prices on buyers being hit by global travel bans, social distancing and flat retail demand.

Patrick Godin, president and CEO, said: "The unprecedented global events we are experiencing have unfortunately led to the board of directors to take this difficult decision impacting our employees and a number of our valued stakeholders."

Stornoway was acquired by Osisko Gold Royalties and other secured creditors last September after it ran out of working capital.

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Read more from our friends at IDEX

: Category: News Archives; Created: 15 April 2020; Hits: 566

Gold prices witness a retracement from the seven-year high to $1,726 during the Asian session on Wednesday. While the upbeat comments from the US President Donald Trump might have been the reason for the bullion’s latest pullback, broad US dollar weakness and the coronavirus (COVID-19) pandemic could be considered as positive to the precious metal.

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Diamond News Archives

Bank of Russia Hints at Big Rate Cut to Prop Up Crashing Economy

Why It Makes so Much Sense to Own REAL Assets

Billionaire Diller Says Bail out Everyone, 'Worry About Paying Later'

Coronavirus Ban Lifted, but Renard Mine Stays Closed

Gold Consolidates Gains Above $1,700, Nears Seven Year High