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Asian shares mixed as Shanghai Comp fluctuates

Asian shares turned mixed amid choppy trade on Wednesday, with China's benchmark Shanghai Composite index swinging between gains and losses.
Source: CNBC.com | By: See Kit Tang
China oil market reform paves way for new crude benchmark

*Oil market reforms will squeeze China's state oil giants. SINGAPORE, Sept 2- China may launch a global crude oil futures contract as early as October to compete with the existing London Brent and the U.S. The long-awaited crude contract would better reflect China's growing importance in setting crude prices, as well as boost the use of the yuan in which it will be...
Source: Reuters | By: Jacob Gronholt-Pedersen
PetroChina to seek additional environmental approval for part of new refinery

BEIJING, Sept 2- PetroChina will obey a ruling from the country's environmental watchdog ordering the state energy giant to halt construction of part of a new large refinery in southwestern China, a company official said on Wednesday. PetroChina, the country's top oil and gas producer and second-largest refiner, has been fined for violating environmental...
Source: Reuters
METALS-London copper finds footing, global factory slowdown weighs

MELBOURNE, Sept 2- London copper steadied on Wednesday in the face of sour sentiment towards base metals after world factory activity slowed in August and the International Monetary Fund cut its outlook for global growth. Copper hit its weakest in six years at $4,855 a tonne at the beginning of last week. China's giant manufacturing industry contracted and...
Source: Reuters | By: Melanie Burton
INTERVIEW-India's 'bulldozer' promises to add 2 percentage points to growth

*Gadkari tackles $57 billion infrastructure backlog. NAGPUR, India, Sept 2- The man Prime Minister Narendra Modi has tasked with launching a China-style infrastructure boom calls himself a "bulldozer" and promises to add two percentage points to India's economic growth in two years. Modi chose the 58- year-old former president of his Hindu nationalist...
Source: Reuters | By: Rajesh Kumar Singh and Nidhi Verma
China's weird policy messages leave investors confused

Beijing's micromanagement of equity markets is only worsening confidence as a series of contradictory policy measures creates further confusion.
Source: CNBC.com | By: Nyshka Chandran
PNG copper mine likely shut until Q1 2016 as El Nino set to worsen

MELBOURNE, Sept 2- Ok Tedi Mining Ltd's Papua New Guinea copper mine is likely to stay shuttered until the first quarter of 2016 as an intensifying El Nino worsens a drought that has cut off river transport links to the project, an executive said. The current El Nino weather phenomenon is expected to strengthen before the end of the year, potentially making it one of...
Source: Reuters
UPDATE 1-Puerto Rico's PREPA, bondholders have framework for deal -sources

SAN JUAN, Sept 1- Puerto Rico's public utility PREPA and a key bondholder group have reached the framework of a debt restructuring deal that would include a repayment reduction, or a so-called haircut, of up to 15 percent for bondholders, three people close to the talks said. PREPA, buckling under $9 billion in total debt, has been trying to negotiate a restructuring...
Source: Reuters | By: Nick Brown
Nikkei up in volatile trade as bargain hunters target battered stocks

TOKYO, Sept 2- Japanese stocks rose in volatile trade on Wednesday morning as investors picked up bargains, although sentiment remained fragile as lingering concerns about China's economy dented global equities. Gains were led by futures buying, which lifted index-heavy stocks such as Fast Retailing Co and Fanuc Corp, up 2.7 percent and 2.9 percent,...
Source: Reuters | By: Ayai Tomisawa
UPDATE 1-Brazil convicts Odebrecht Group for slavery-like practices in Angola

RIO DE JANEIRO, Sept 1- A Brazilian labor court convicted units of Brazil's Odebrecht Group of holding workers in conditions akin to slavery at an ethanol refinery construction project in Angola, Brazilian prosecutors said in a statement on Tuesday. Odebrecht said in an e-mailed statement that work involved in the Angola ethanol refinery project was carried...
Source: Reuters