Moody's Investors Service has assigned a Baa2 issuer rating to state-owned mining holding company PT Indonesia Asahan Alumunium (Inalum) and a Baa2 rating to the company's proposed senior unsecured notes. The outlook on the ratings is stable. Proceeds from the notes issuance will be used to fund a portion of Inalum's proposed $3.85 billion payment to increase its ownership share of PT Freeport Indonesia (PTFI), which controls the rights to mine the Grasberg minerals district, to 51.23 percent. “Inalum will benefit from the scale of PTFI's operations, who mines the world's second-largest copper mine and largest gold mine at Grasberg. However, credit risk will rise due to a considerable increase in financial leverage and complex capital expansion projects at PTFI," said Brian Grieser, Moody's vice president and senior credit officer and lead analyst for Inalum. Inalum is a government-appointed holding company for state-owned mining entities. It owns and manages the government's 65 … [Read more...] about Moody’s assigns first-time Baa2 issuer rating to Inalum
Times khaleej gold rate
News LIST: The all-time Filipino gold medalists in the Asian Games
Thanks to the four its national athletes won in Jakarta and Palembang the past 2 weeks or so, the Philippines raised its all-time gold-medal count to 68 in the Asian Games. Here are all the gold winners the country has produced since the inaugural 1951 Games in New Delhi. (The only instance the Philippines finished without a gold was in the 1974 Games in Tehran.) (Source: “The Olympic Movement in the Philippines,” by Celso Limjuco Dayrit) 2018 (4)2014 (1)2006 (4)2002 (3)1998 (1)1994 (3)1990 (1)1986 (4)1982 (2)1978 (4)1970 (1)1962 (7)1958 (9)1954 (14)1951 (5) For more sports coverage, visit the ABS-CBN Sports website. … [Read more...] about News LIST: The all-time Filipino gold medalists in the Asian Games
No 5th gold, only silver and tears
No 5th gold, only silver and tears Boxing, Philippines denied a milestone in 56 years JAKARTA – A head butt thwarted the dream of the last Filipino athlete with a shot at the gold medal here yesterday and pegged Team Philippines at 19th place in the medal tally with only one last event to be disputed today before curtains fall on the 18th Asian Games here. Rogen Ladon lost his crack at Asiad glory on a head butt from Uzbek rival Jasurbek Latipov, settling for the silver medal that could all well end the contingent’s hunt for mints in the Jakarta/Palembang Games. Singapore SEA Games triathlon queen Claire Adorna, Kuala Lumpur successor Kim Mangrobang, John Chicano and Mark Hosana end Team Phl’s campaign here as they team up in the mixed relay starting at 7:30 a.m. today at the Jakabaring Sports Park in Palembang. But up against the East Asian ultra-athletes, the Phl relay team can only hope for at least a Top 10 finish as Mangrobang and … [Read more...] about No 5th gold, only silver and tears
BANK OF AMERICA: Massive investors are dumping gold, and the one thing can rescue the precious metal is still missing
caption Fund managers are pulling billions out of gold. source Mohamed Nureldin Abdallah /Reuters Gold is the worst-performing major asset class of 2018. Michael Hartnett, the chief investment strategist at Bank of America Merrill Lynch, said the key catalysts that could reverse its decline is a dollar that falls alongside US Treasury yields. Investors are making record bets that yields will continue rising. Watch gold trade in real time here. Gold investors are having a tough year. The precious metal is down 8% so far in 2018, and nearly 14% on an annualized basis – making it the worst-performing major asset class this year according to Bank of America Merrill Lynch. This week, fund managers headed for the exits at a pace not seen since December 2016 as they pulled $1.2 billion out of the precious metal, according to Michael Hartnett, BAML’s chief investment strategist. There has been $7 billion in outflows over the past three months, … [Read more...] about BANK OF AMERICA: Massive investors are dumping gold, and the one thing can rescue the precious metal is still missing
Russians win men’s hockey gold with thrilling overtime win over Germany
By Stephen Whyno The Associated Press Sun., Feb. 25, 2018 GANGNEUNG, KOREA, REPUBLIC OF—The Olympic anthem was merely background noise, the doping scandal the farthest thing from their minds. As the white flag with the five Olympic rings rose toward the rafters Sunday following the gold medal game in men’s hockey, the champion Russians in their nondescript red-and-white uniforms joined their fans cloaked in red, white and blue and belted out the “State Anthem of the Russian Federation,” drowning out the recorded song that was required as part of International Olympic Committee sanctions. This Olympic title meant so much more to the Russians, no matter that the tournament was missing NHL players and the “Olympic Athletes from Russia” were all here only after months of scandal. Joyous players tossed coach Oleg Znarok in the air at centre ice as fans let out the same “ROSS-I-YA” chants that filled the arena in Sochi four … [Read more...] about Russians win men’s hockey gold with thrilling overtime win over Germany