By Peter HobsonLONDON (Reuters) - Palladium <XPD=> is outgunning other precious metals, with a surge to record highs putting it within a whisker of parity with gold <XAU=> for the first time in 16 years. gi Tight supplies, large deficits and resurgent interest from speculative investors have sent palladium prices rocketing 40 percent from a low in August.The metal, used chiefly in emissions-reducing autocatalysts for vehicles, reached an all-time high of $1,185.40 an ounce on Friday - a mere $35 short of gold at around $1,220.(Graphics of 'Palladium prices relative to gold and platinum' - https://tmsnrt.rs/2PugPWq)"What we are seeing is the culmination of several years of sustained market deficits," said Mitsubishi analyst Jonathan Butler."Clearly it (the rally) has still got some legs. $1,200 is an immediate psychological level. I could see us going towards $1,300." The physical palladium market is the tightest in nearly two decades, analysts at Citibank said. Autocatalyst … [Read more...] about Palladium zooms towards parity with gold for first time in 16 years
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BUSINESS NEWS IN BRIEF 1/11
The upcoming Vietnam Digital Economy Forum (VDEF) 2018 will include special sessions which focus on Vietnam’s digital economic perspectives, featuring local and international keynote speakers. The VDEF 2018, whose theme is “Challenges and strategic solutions for small- and medium-sized enterprises (SMEs) in the Fourth Industrial Revolution,” will take place on Thursday, November 1, at the Rex Hotel in District 1, HCMC. The forum is co-sponsored by the Association of Vietnam Scientists and Experts, and Quang Trung Software City, as well as by the HCMC People’s Committee. Some 20 policy makers and leading experts at home and abroad from the digital economy industry, together with 500 guests from ministries, organizations and enterprises, are expected to join this event. The Fourth Industrial Revolution has been impacting the structures that make up the foundations of the global economy and society. Every day, millions of people benefit from innovative products and … [Read more...] about BUSINESS NEWS IN BRIEF 1/11
An education in hope
KAKUMA, Kenya — Under a thatched-roof shed at the edge of northwest Kenya, Achayo Loum logs on to her laptop to tackle the day’s assignment: writing a college essay on counterfeiting in the fashion industry.The unrelenting equatorial sun scorches from above, and an explosion of chatter from shops just beyond a grove of spindly trees briefly breaks her focus. On nearby rutted dirt roads, women teeter along, balancing water jugs on their heads. A constant parade of honking motorcycle taxi drivers, carrying passengers, broken bicycles, and whatever else fits on the back seat, weaves past white United Nations vans, kicking up waves of dust. Children, many in threadbare clothes, skip down rocky alleyways and boot soccer balls into rusty, netless goals. But Loum, 35, is undeterred by the din.She is determined to escape the Kakuma Refugee Camp, her home for the past 18 years. It is one of the world’s largest havens for the dispossessed and stateless, a metropolis of … [Read more...] about An education in hope
BUSINESS IN BRIEF 6/7
New enterprises up 5.3% in H1 More than 64,350 new enterprises were formed in the first half of this year with a total registered capital of VND648.9 trillion (US$22.95 billion). These figures, marked year-on-year increases of 5.3 per cent in the number of businesses and 9 per cent at the level of capital, the Business Registration Management Agency, operating under the Ministry of Planning and Investment reported. Experts at the agency attributed the period’s positive performance to the improving business conditions and registration procedure. According to experts, the newly-established firms have a tendency to rise since the beginning of this year. Notably, the second quarter of this year saw the highest number of new firms and level of registered capital over the past five years with 37,750 units, registering $11.8 billion in capital, up 41 per cent and 33 per cent, respectively. In the first six months, the average capital for an enterprise reached VND10.1 billion, surging … [Read more...] about BUSINESS IN BRIEF 6/7
BUSINESS IN BRIEF 24/6
Wood exports continue expanding in first months of 2018 An upturn has been seen in exports of wood and wooden products, with export value in the first five months of 2018 reaching 3.3 billion USD, up 8.2 percent from the same period last year. The top four markets were the US, China, Japan and the Republic of Korea (RoK), together accounting for 78.1 percent of total export revenue. Strong growth was seen in the RoK and the US markets, with 45.3 percent and 9.7 percent respectively. In the first four months of 2018, Vietnam earned 1.1 billion USD from exporting wood and wooden products to the US, 367.3 million USD from China, 350.7 million USD from Japan and 288.8 million USD from the RoK. However, Nguyen Quoc Khanh, President of the Handicraft and Wood Industry Association of Ho Chi Minh City, warned that the US, the largest market for Vietnamese wood and wooden products, has prioritised the domestic wood sector by reducing corporate income tax from 35 percent to 25 percent. He … [Read more...] about BUSINESS IN BRIEF 24/6