Georgia QB Carson Beck has shoulder surgery, out for CFPVertigo3d The recent market melt-up may make it seems as if deals are harder to come by. For one thing, pricey stocks have become even more expensive and even value names in the MLP segment like Enterprise Products Partners ( Read The Full Report on iREIT+Hoya iREIT+HOYA Capital is the premier income-focused investing service on Seeking Alpha. Our focus is on income-producing asset classes that offer the opportunity for sustainable portfolio income , diversification , and inflation hedging . Get started with a Free Two-Week Trial and take a look at our top ideas across our exclusive income-focused portfolios. With a focus on REITs, ETFs, Preferreds, and 'Dividend Champions' across asset classes, members gain complete access to our research and our suite of trackers and portfolios targeting premium dividend yields up to 10%. I am Gen Alpha. I have more than 14 years of investment experience, and an MBA in Finance. I focus on stocks that are more defensive in nature, with a medium- to long-term horizon. I provide high-yield, dividend growth investment ideas in the investing group iREIT®+HOYA Capital . The group helps investors achieve dependable monthly income, portfolio diversification, and inflation hedging. It provides investment research on REITs, ETFs, closed-end funds, preferreds, and dividend champions across asset classes. It offers income-focused portfolios targeting dividend yields up to 10%. Learn more . Analyst’s Disclosure: I/we have a beneficial long position in the shares of OBDC either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. I am not an investment advisor. This article is for informational purposes and does not constitute as financial advice. Readers are encouraged and expected to perform due diligence and draw their own conclusions prior to making any investment decisions. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Tectonic Therapeutic to Host KOL Event on the Unmet Need in Group 2 PH-HFpEF and TX45 as a ...
Marvell Technology, Inc. Reports Third Quarter of Fiscal Year 2025 Financial ResultsMurder charges after woman burnt to death on NYC subway
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SINGAPORE , Nov. 30, 2024 /PRNewswire/ -- Amber DWM Holding Limited ("Amber DWM"), the holding entity of Amber Group's digital wealth management business, known as Amber Premium ("Amber Premium"), today announced that it has entered into a definitive Agreement and Plan of Merger (the "Merger Agreement") with iClick Interactive Asia Group Limited ("iClick" or the "Listco") (NASDAQ: ICLK ) and Overlord Merger Sub Ltd. ("Merger Sub"), a Cayman Islands exempted company and a direct, wholly owned subsidiary of the Listco. Under the Merger Agreement, Merger Sub will merge with and into Amber DWM, with Amber DWM continuing as the surviving entity and becoming a wholly-owned subsidiary of the Listco (the "Merger"). Amber DWM's shareholders will exchange all of their issued and outstanding share capital for a mix of newly issued Class A and Class B ordinary shares of the Listco on the terms and conditions set forth therein in a transaction exempt from the registration requirements under the Securities Act of 1933. Wayne Huo , Chief Executive Officer and Director of Amber DWM , said: " We are thrilled to embark on this transformative journey with iClick. This merger represents a significant milestone, bringing together Amber Premium's expertise in digital wealth management and iClick's innovative marketing technology. Together, we aim to redefine the digital financial ecosystem, delivering unparalleled value to our clients and stakeholders. By bridging the worlds of blockchain, fintech and digital marketing, we are unlocking new opportunities to revolutionize how value is created and exchanged in the digital economy ." The transaction values Amber DWM at US$360 million and the Listco at US$40 million by equity value on a fully diluted basis (assuming completion of certain restructuring as set forth in the Merger Agreement). Upon closing of the Merger (the "Closing"), the Amber DWM shareholders and the Listco shareholders (including holders of ADSs) will own approximately 90% and 10%, respectively, of the outstanding shares of the combined company, or 97% and 3% voting power, respectively. The Merger Agreement also contemplates that, upon the Closing, the Listco will change its name to "Amber International Holding Limited" and adopt the tenth amended and restated memorandum and articles of association of the Listco, in each case immediately before the effective time of the Merger (the "Effective Time"), following which the authorized share capital of the Listco shall only consist of Class A ordinary shares and Class B ordinary shares (with different voting powers but equal economic rights), a par value of US$0.001 each. Please refer to the Merger Agreement filed as Exhibit 99.2 to the Form 6-K furnished by the Listco to the SEC on November 29, 2024 for more details. The Listco's board of directors (the "Board") approved the Merger Agreement and other transaction documents, including but not limited to the voting agreement entered into by and among certain shareholders of the Listco (who holds approximately 36% of the outstanding shares representing 71% voting power of the Listco as of the date of this press release), the Listco and Amber DWM (the "Voting Agreement") (collectively, the "Transaction Documents"), and the transactions contemplated thereunder (the "Transactions"), with the assistance of its financial and legal advisors. The Board also resolved to recommend that the Listco's shareholders vote to authorize and approve the Transaction Documents and the Transactions when they are submitted for shareholder approval. In connection with the Transaction, each of the shareholders of Amber DWM immediately prior to the consummation of the Merger is entering into a lock-up agreement with the Listco pursuant to which they have agreed not to transfer the shares received in consideration of the Merger for a period of 12 months following the Merger closing. The completion of the Transactions is subject to the satisfaction of closing conditions set forth in the Merger Agreement, including, among other things, receipt of the Listco's shareholder approval and regulatory/stock exchange approvals (if applicable). The Merger Agreement provides for a long-stop date for any party to terminate the agreement if the Merger is not completed by June 30, 2025 . " This merger represents a transformative opportunity to broaden our business portfolio by integrating Amber Premium's state-of-the-art digital wealth management solutions. By uniting iClick's robust data analytic and enterprise software expertise with Amber Premium's advanced digital wealth management services, we aim to unblock synergies between traditional finance and the rapidly evolving digital asset ecosystem, particularly benefitting corporate and high net worth individual clients ", said Mr. Jian Tang , Chairman, Chief Executive Officer and Co-Founder of iClick . The foregoing description of the Merger Agreement and the Voting Agreement does not purport to be complete and is qualified in its entirety to the full text of the Merger Agreement and the Voting Agreement, which are filed as Exhibits 99.2 and 99.3 to the Form 6-K furnished by the Listco to the SEC on 29, 2024, respectively. Simpson Thacher & Bartlett LLP is serving as U.S. legal counsel to Amber DWM. Cleary Gottlieb Steen & Hamilton LLP is serving as U.S. legal counsel to iClick. About Amber Premium Amber Premium, the business brand behind Amber DWM Holding Limited, is a leading digital wealth management platform offering private banking-level solutions tailored for the dynamic crypto economy. Serving a premium clientele of esteemed institutions and qualified individuals, Amber Premium develops and supports innovative digital wealth management products. Its institutional-grade access and operations makes it the top choice for one-stop digital wealth management services, providing tailored, secure solutions that drive growth in the Web3 economy. About iClick Interactive Asia Group Limited Founded in 2009, iClick Interactive Asia Group Limited (NASDAQ: ICLK ) is a renowned online marketing and enterprise solutions provider in Asia . With its leading proprietary technologies, iClick's full suite of data-driven solutions helps brands drive significant business growth and profitability throughout the full consumer lifecycle. For more information, please visit https://ir.i-click.com . Safe Harbor Statement This press release contains certain "forward-looking statements." These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the pending transactions described herein, and the parties' perspectives and expectations, are forward-looking statements. The words "will," "expect," "believe," "estimate," "intend," "plan" and similar expressions indicate forward-looking statements. Such forward-looking statements are inherently uncertain, and shareholders and other potential investors must recognize that actual results may differ materially from the expectations as a result of a variety of factors. Such forward-looking statements are based upon management's current expectations and include known and unknown risks, uncertainties and other factors, many of which are hard to predict or control, that may cause the actual results, performance, or plans to differ materially from any future results, performance or plans expressed or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to: (i) risks related to the expected timing and likelihood of completion of the proposed transaction, including the risk that the transaction may not close due to one or more closing conditions to the transaction not being satisfied or waived; (ii) the occurrence of any event, change or other circumstances that could give rise to the termination of the applicable transaction agreements; (iii) the risk that there may be a material adverse change with respect to the financial position, performance, operations or prospects of the Listco, Amber DWM or the combined entity; (iv) risks related to disruption of management time from ongoing business operations due to the proposed transaction; (v) the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of the Listco's securities; (vi) the risk that the proposed transaction and its announcement could have an adverse effect on the ability of Amber DWM or the combined entity to retain customers and retain and hire key personnel and maintain relationships with their suppliers and customers and on their operating results and businesses generally; (vii) any changes in the business or operating prospects of Amber DWM and the combined entity or their businesses; (viii) changes in applicable laws and regulations; and (ix) risks relating to Amber DWM's and the combined company's ability to enhance their services and products, execute their business strategy, expand their customer base and maintain stable relationship with their business partners. A further list and description of risks and uncertainties can be found in the proxy statement that will be filed with the SEC by the Listco in connection with the proposed transactions, and other documents that the parties may file or furnish with the SEC, which you are encouraged to read. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements relate only to the date they were made, and the Listco, Amber DWM and their respective subsidiaries and affiliates undertake no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation. No Offer or Solicitation This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the transactions described above and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Amber DWM, the Listco or the combined company, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom. Participants in the Solicitation The Listco, Amber DWM and their respective directors and executive officers may also be deemed to be participants in the solicitation of proxies from the shareholders of the Listco in connection with the proposed transaction. A list of the names of such directors and executive officers and information regarding their interests in the proposed transaction will be included in the proxy statement pertaining to the proposed transaction when it becomes available for the proposed transaction. Additional Information and Where to Find It The Listco will file with the SEC and mail to its shareholders a proxy statement in connection with the proposed transaction. Investors and securityholders are urged to read the proxy statement when it becomes available because it will contain important information regarding the proposed arrangement. You may access the proxy statement (when available) and other related documents filed by the Listco with the SEC at the SEC's website at www.sec.gov . You also may obtain the proxy statement (when it is available) and other documents filed by the Listco with the SEC relating to the proposed arrangement for free by accessing the Listco's website at ir.i-click.com. SOURCE Amber Group
Jammu, Dec 24: Minister for Food Civil Supplies & Consumer Affairs, Youth Services and Sports, Transport, Science and Technology, Information Technology, ARI & Trainings Satish Sharma has extended warm greetings to the people of Jammu and Kashmir on the blissful and joyous occasion of Christmas. The Minister said that Christmas is the festival of happiness being celebrated across the globe with great grandeur and enthusiasm. The day commemorates the birth anniversary of Jesus Christ and rekindles the spirit of peace and harmony. He also remembered Lord Jesus, who spread the valuable message of sacrifice, love, tolerance and preached the sublime qualities of simplicity and mercy.
By LOLITA C. BALDOR and FATIMA HUSSEIN WEST PALM BEACH, Fla. (AP) — President-elect Donald Trump said Wednesday that he has chosen Keith Kellogg, a highly decorated retired three-star general, to serve as his special envoy for Ukraine and Russia. Kellogg, who is one of the architects of a staunchly conservative policy book that lays out an “America First” national security agenda for the incoming administration, will come into the role as Russia’s invasion of Ukraine enters its third year in February. Trump, making the announcement on his Truth Social account, said, “He was with me right from the beginning! Together, we will secure PEACE THROUGH STRENGTH, and Make America, and the World, SAFE AGAIN!” Kellogg, an 80-year-old retired Army lieutenant general who has long been Trump’s top adviser on defense issues, served as national security adviser to Vice President Mike Pence , was chief of staff of the National Security Council and then stepped in as an acting security adviser for Trump after Michael Flynn resigned. As special envoy for Ukraine and Russia, Kellogg will have to navigate an increasingly untenable war between the two nations. The Biden administration has begun urging Ukraine to quickly increase the size of its military by drafting more troops and revamping its mobilization laws to allow for the conscription of those as young as 18. The White House has pushed more than $56 billion in security assistance to Ukraine since the start of Russia’s February 2022 invasion and expects to send billions more before Biden leaves office in less than two months. The U.S. has recently stepped up weapons shipments and has forgiven billions in loans provided to Kyiv. Trump has criticized the billions the Biden administration has spent in supporting Ukraine and has said he could end the war in 24 hours, comments that appear to suggest he would press Ukraine to surrender territory that Russia now occupies. As a co-chairman of the American First Policy Institute’s Center for American Security, Kellogg wrote several of the chapters in the group’s policy book. The book, like the Heritage Foundation’s “Project 2025,” is designed to lay out a Trump national security agenda and avoid the mistakes of 2016 when he entered the White House largely unprepared. Kellogg in April wrote that “bringing the Russia-Ukraine war to a close will require strong, America First leadership to deliver a peace deal and immediately end the hostilities between the two warring parties.” Trump’s proposed national security adviser , U.S. Rep. Michael Waltz of Florida, tweeted Wednesday that “Keith has dedicated his life to defending our great country and is committed to bringing the war in Ukraine to a peaceful resolution.” Kellogg featured in multiple Trump investigations dating to his first term. He was among the administration officials who listened in on the July 2019 call between Trump and Volodymyr Zelenskyy in which Trump prodded his Ukrainian counterpart to pursue investigations into the Bidens. The call, which Kellogg would later say did not raise any concerns on his end, was at the center of the first of two House impeachment cases against Trump, who was acquitted by the Senate both times. On Jan. 6, 2021, hours before pro-Trump rioters stormed the U.S. Capitol, Kellogg, who was then Pence’s national security adviser, listened in on a heated call in which Trump told his vice president to object or delay the certification in Congress of President Joe Biden ’s victory. He later told House investigators that he recalled Trump saying to Pence words to the effect of: “You’re not tough enough to make the call.” Baldor reported from Washington. AP writer Eric Tucker in Washington contributed to this report.
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Wild Christmas forecast for B.C. as dozens of wind and rain warnings are issued VANCOUVER — Environment Canada has issued dozens of wind and heavy rain warnings for British Columbia's south coast on Christmas Day, as the region braces for the second in a series of festive week storms. Canadian Press Dec 24, 2024 2:42 PM Dec 24, 2024 2:50 PM Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message Waves pound Ogden Point breakwater as strong wind blows during the first major storm of the year in Victoria, Tuesday, Jan. 5, 2021. THE CANADIAN PRESS/Chad Hipolito VANCOUVER — Environment Canada has issued dozens of wind and heavy rain warnings for British Columbia's south coast on Christmas Day, as the region braces for the second in a series of festive week storms. The agency says up to 100 millimetres of rain could drench Metro Vancouver and other areas, while winds up to 100 km/h could hit Victoria and elsewhere on Vancouver Island. Environment Canada says the wild weather is expected to start around midday Wednesday on the south coast lasting through to Boxing Day, with heavy rain potentially bringing localized flooding, travel disruptions and power cuts. BC Ferries is warning that multiple routes may be affected by high winds forecast for the Strait of Georgia and north Vancouver Island. The 24 wind and rain warnings in British Columbia cover most of the south coast and Vancouver Island, stretching inland to parts of the southern Interior. The warnings come after the first of three storms moved inland on Tuesday, after bringing powerful winds that downed trees, cut power and blocked roads in some coastal areas. It arrived late Monday, with hurricane-force gusts up to 165 km/h recorded on the west coast of the island overnight, before the weather system moved out of the region later Tuesday morning. The strongest winds were recorded before dawn Tuesday at remote Sartine Island, but gusts above 100 km/h were also recorded at several other locations off Vancouver Island's west coast. BC Hydro said fallen trees caused outages on Vancouver Island, while Drive BC said the Sunshine Coast Highway was temporarily blocked by fallen power lines about 40 km west of Sechelt. Elsewhere on the Sunshine Coast, fallen trees and downed Hydro lines partially cut Hanbury Road near Roberts Creek. The third weather system is a low-pressure system that Environment Canada says will approach southern Vancouver Island early Thursday, although there's uncertainty about its path. The agency says an anticipated southern track would confine the strongest winds and heavy rain to the south coast. This report by The Canadian Press was first published Dec. 24, 2024. The Canadian Press See a typo/mistake? Have a story/tip? This has been shared 0 times 0 Shares Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message More National News Dismiss Trump taunts, expert says after 'churlish' social media posts about Canada Dec 24, 2024 2:49 PM Court hits pause on global streamers’ upcoming Canadian content payments Dec 24, 2024 1:59 PM Canadian activist accuses Hong Kong of meddling after reward for arrest Dec 24, 2024 1:57 PM Featured Flyer
In the aftermath of the tragic stampede in Nigeria that took the lives of many, including children, the words from the Bible in Jeremiah 31:15 feel so real: “A voice is heard in Ramah, mourning and great weeping, Rachel weeping for her children and refusing to be comforted because they are no more.” This verse paints a vivid picture of a mother’s deep sorrow, symbolising the collective grief of a nation losing its children. This sorrow should remind us of the urgent need for unity and compassion in the face of such profound loss. For Nigeria, grappling with hardship and heartbreak, this moment must become a lesson—not an opportunity for political games, but a time for true leadership and healing. The reference to Ramah is significant. According to biblical commentaries like those in Matthew 2:18, Ramah was a location tied to immense sorrow—a place where Jewish captives were gathered before being taken into exile. In the New Testament, this verse is echoed to describe the anguish of mothers during King Herod’s massacre of the innocents. Rachel’s weeping transcends individual grief, symbolizing a communal mourning for lost innocence and life. As Christmas approaches, the resonance of this story deepens. Just as mothers mourned during the events surrounding Jesus’ birth, we too, as Nigerians, must share in the pain of grieving families affected by this tragedy. Their sorrow is a stark reminder of the fragility of life and the need for compassion. This recent stampede mirrors the sorrow captured in Jeremiah’s lament. Rachel’s weeping symbolized the heartbreak of a people torn apart by exile, a grief so profound it reverberates through history. Today’s tragedy echoes that anguish, as several incidents across Nigeria have claimed dozens of lives. In one instance, at least 32 people died in a stampede during a rush to collect Christmas gifts. Another report revealed the devastating loss of 10 lives, including children, at a charity event meant to bring relief. In yet another tragedy, the death toll at a food distribution center exceeded 50, leaving families shattered and communities in mourning. Festus Adedayo, in his poignant article “Harvest of Human Chickens for Christmas,” recounts the story of a mother who lost her newborn in the chaos, a life so young and innocent, gone in an instant. Separately, I also heard the heartbreaking story of another mother who had taken four children to a food distribution but tragically lost three of them in the chaos. These unimaginable losses expose the harsh reality of life for so many Nigerians, where even moments of goodwill can end in despair. Leadership is not about projecting invincibility but about showing compassion when things fall apart. Take former President Barack Obama as an example. During a memorial for slain peace officers in Dallas, he openly wept. This act of vulnerability was not a sign of weakness but a demonstration of deep care, which strengthened the bond between him and the American people. Having worked with an organization connected to Obama’s career, I have seen firsthand how such openness can create trust and a sense of shared purpose, inspiring hope even in the darkest times. Contrast this with leaders who attempt to appear unshakeable in moments that demand empathy and connection. For example, Donald Trump’s refusal to acknowledge his need for God’s forgiveness alienated many Christians, a key part of his political base. As someone who attended an evangelical institution deeply tied to Trump’s support during his election, I saw firsthand how such statements created unease within that community. Additionally, his premature departure from the hospital during his COVID-19 treatment—an effort to project strength—ultimately backfired, costing him both sympathy and credibility. Such actions demonstrated a disconnect between his leadership image and the emotional expectations of his followers. People need to see their leaders’ humanity, as it reassures them that their struggles and emotions are understood and shared. President Tinubu’s reliance on spokespersons to deliver “soft” messages after tragedies creates a sense of detachment. Nigerians need to see their president’s heart. A tear, a heartfelt speech, or an open show of grief could go a long way to heal the nation’s wounds. Leaders who don’t show they care risk appearing indifferent, which can deepen anger and disillusionment. That said, this is not a time for blame. Even with a free press, lashing out at Tinubu won’t help Nigeria heal. This tragedy demands collective mourning and a shared understanding of the loss and pain. Divisive criticism will only widen the gaps that need bridging. Beyond emotional leadership, practical solutions are essential. Take Nigeria’s fuel pricing issue: why should Nigerians pay international rates for fuel when they live in an oil-producing country? I’ve argued before that Dangote Refinery should sell fuel domestically at its production cost, not the global benchmark. Policies like this prioritize people over profits, demonstrating that leaders view citizens as individuals, not just statistics. Research underscores the importance of combining macroeconomic strategies with microeconomic realities. Articles like “Microeconomic Foundations of Macroeconomic Policy” highlight how integrating small-scale insights can improve large-scale plans. Leaders who focus solely on broad numbers often miss the lived struggles of real families. For example, “Microeconomic Behavior and Macroeconomic Outcomes” explains that effective policies must address daily challenges. By blending these perspectives, governments can create solutions that are fair and meaningful. History also teaches us that the greatest leaders—from Abraham Lincoln to Nelson Mandela—embraced vulnerability. Lincoln’s emotional speeches during the Civil War and Mandela’s tireless reconciliation efforts after apartheid united their people. They understood that true strength comes from compassion and connection. President Tinubu has a rare and pivotal opportunity to lead Nigeria through this moment of sorrow and despair. By demonstrating genuine care for the Nigerian people, he can rebuild trust and foster unity in a time of deep division. True leadership lies in vulnerability, which shows authenticity and strength. When a leader connects with the emotions of their people, it creates solidarity and a shared sense of purpose. This is Tinubu’s chance to demonstrate that genuine empathy and humanity are far more powerful than political posturing. So, what can President Tinubu do? First, he must address Nigerians directly, speaking not just as a leader but as a fellow human being who shares their grief. Honesty and vulnerability are powerful tools; they allow people to connect with their leader on a personal level. A heartfelt message, delivered with genuine emotion, can provide solace and restore trust during these painful times. Second, beyond words, he must take immediate steps to alleviate the everyday struggles that weigh heavily on Nigerians. Policies like reducing fuel prices to reflect the cost of domestic production, rather than international benchmarks, can offer tangible relief. Such actions signal that the government prioritizes the welfare of its citizens over profit margins or bureaucratic inertia. Finally, President Tinubu must cultivate a culture of empathy within his administration. This means creating a government that listens, understands, and acts on the needs of the people. By embedding compassion into policymaking and governance, he can rebuild faith in leadership and lay the foundation for a more unified and resilient Nigeria. Jeremiah 31:15 reminds us of the profound sorrow that accompanies loss, but it also shines a light on the promise of hope and renewal. As we reflect on this tragedy, it mustn’t inspire despair but a collective resolve to create a more compassionate and unified Nigeria. Let us hold the grieving families in our hearts, offering them solace through our empathy and solidarity. At the same time, we must look forward with determination, committing ourselves as a nation to the path of healing and restoration. We must ensure that such sorrow does not define our future but instead inspires meaningful change. Let us pray for the strength to rise above these challenges and for the wisdom to address the deep-rooted issues that have led us here. Unity is key; it is what binds us together as a nation and gives us the resilience to rebuild in the face of adversity. Together, let us envision a future where peace and compassion triumph over pain and despair, offering hope to the grieving families and to all Nigerians.
Bizarre note that accompanied murder of child 'beauty queen'Iron ore futures prices gained for a second straight session on Tuesday, supported by pre-holiday restocking by steelmakers in top consumer China and revived hopes of stimulus. The most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) TIO1! ended daytime trade 1.29% higher at 783 yuan ($107.28) a metric ton. The benchmark January iron ore (SZZFF5) on the Singapore Exchange recouped earlier losses to rise 0.21% to $101.5 a ton by 0712 GMT. It had fallen to $99.9 earlier in the session. “Winter restocking of iron ore among steel mills is still underway, so we believe ore prices will find some support in the near term and destocking at ports will likely continue until end-January,” said Jiang Mengtian, a Shanghai-based analyst at consultancy Horizon Insights. “We peg the support level at 760 yuan and 770 yuan a ton and the resistance level at 810 yuan a ton.” Chinese steelmakers usually build up stocks ahead of the Chinese New Year, which starts from Jan. 28, to meet production needs during and after the holiday. Market sentiment was also boosted by a Reuters report that Chinese authorities have agreed to issue 3 trillion yuan worth of special treasury bonds next year, which would be the highest on record, as Beijing ramps up fiscal stimulus to revive a faltering economy. A few cities in northern China, including steel production hub Handan, announced emergency response from Monday amid forecast air pollution, according to consultancies Lange Steel and Mysteel. This pressured the key steelmaking ingredient earlier in the session, said analysts. Local steel mills are typically required to curb production under such emergency actions. Other steelmaking ingredients on the DCE were mixed, with coking coal down 0.52% and coke (DCJcv1) up 0.59%. Most steel benchmarks on the Shanghai Futures Exchange advanced. Rebar RBF1! rose 0.91%, hot-rolled coil edged up 0.53%, stainless steel HRC1! strengthened 0.54%, while wire rod (SWRcv1) shed 0.42%. Source: Reuters
Singh won't support Conservative non-confidence motion that uses his own words