Rare metals investment blow-up shows risks lurking in China's financial system Now Beijing faces a political headache after the Fanya Metal Exchange in southwest China said it cannot pay investors their principle. He was among about 150 protesters in front of the Shanghai office of China's banking regulator. Similar demonstrations have been held in recent weeks in Beijing and Shanghai.
| By: Nathaniel Taplin and David Stanway
Amid commodity crisis, LPG emerges as accidental bright-spot *Biggest growth seen in India. SINGAPORE/ DUJANA, India, Oct 9- Liquefied Petroleum Gas, long a niche product used by the poor to cook and the rich to barbecue, has become a rare bright spot amid a broad commodities rout, riding on the wave of strong economic growth in India and parts of Southeast Asia. The biggest growth market is India, with its 1.3 billion people and 8...
| By: Henning Gloystein and Sankalp Phartiyal
Asian demand for plastic to defy China economic slowdown *Appetite for plastic wrapping, packaging remains strong. SINGAPORE, Oct 9- Asian demand for plastic is set to defy economic slowdown in top consumer China and other nations, growing as plunging oil prices make it cheaper to churn out and as fast-expanding online markets boost appetite for items like packaging and wrapping. Prices in China for polyethylene, the...
| By: Seng Li Peng
UPDATE 9-Oil surges to settle at 3-month high on bullish outlook *PIRA Energy Group sees crude rising to $75/ bbl by 2017. NEW YORK, Oct 8- Oil prices climbed to their highest in three months on Thursday after a closely watched oil forecaster predicted prices would climb to $75 over the next two years, adding to early gains notched after a rally in Chinese stocks worries about Syria. PIRA Energy Group, a closely watched forecaster...
| By: Koustav Samanta and Scott DiSavino
UPDATE 1-UK court hears possible recruit to Libor conspiracy 'to get the odd Mars bar' In a recorded telephone conversation dated Aug. 20, 2007 and played to Southwark Crown Court, the former JPMorgan trader Stuart Wiley told the former ICAP manager Danny Wilkinson that the bank had replaced an employee responsible for Libor rates, whom he described as "so by-the-book." Wilkinson, a former desk head at ICAP who is on trial with five other brokers in...
| By: Kirstin Ridley
UPDATE 8-Oil rallies to 5-week high on Chinese stock rise, Syria worry Concerns over geopolitical tensions in Syria boost crude prices. NEW YORK, Oct 8- Oil prices climbed to their highest in five weeks on Thursday, as buoyant Chinese equity markets encouraged buying, and as Russia's military involvement in Syria brought a geopolitcal risk premium into the market. Brent crude oil futures rose $1.60 to $52.93 a barrel by 1:07 p.m....