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03:20Last update on: 12 Aug 2013
The Namibian
Mon 12 Aug 2013
SMS Of The Day * MINISTRY of Gender and Child Welfare, TEARS are rolling down as I write this SMS. The killing of women in Namibia is now like reciting a poem. Are we really getting the protection we deserve while women not being treated as part of this c Food For Thought * SO the Zimbabwe elections were free and peaceful and not free and fair? Bouquets And Brickbats * NURSES at Katutura Hospital must stop wearing those big plastic sandals at work because they are not the official working shoes. We want to see you looking smart and beautiful with your full uniform. SMS Of The Day * THIS nation is in dire need of a massive conference on housing. When we experienced a crisis in the education sector a crisis-control brain-storming conference was organised which resulted in the best deal ever for the Namibian child, nam Food For Thought * BOURGEOISIE has become a daily occupation if not the order of the day of the upper-echelons, President Hifikepunye Pohamba we urge you to revisit this unpatriotic geocentricism among your staff and the well-connected, for everybody to r Bouquets And Brickbats * COMMISSIONER of Prisons, can you please explain the strategies you use to appoint officers to certain positions? It is my observation that you are being fed with wrong information then you just promote individuals without making p SMS Of The Day * I THINK Paulus ‘The Rock’ Ambunda lost his belt because of this promoter and trainer. How can a world champion still be training at the Katutura Youth Complex where there is not enough equipment. I think they must follow the example of Ha Food For Thought * NAMIBIA Dairies are unable to match low prices of imported milk and this ultimately means the consumer will have to pay more for local milk. Look at the prices of the local chicken. All these profits are going in the pockets of a few in Bouquets And Brickbats * I AM pleased to hear that Cabinet has responded positively to the proposal of Namibia Dairies to support the industry. The restrictions which support the industry by reducing competition to ensure the survival of the industry is a SMS Of The Day * CEO’s golden handshakes. Somewhere on our statute books there must be a provision that if a board of directors suspends/dismisses a CEO without due regard to legal provision (substantive/procedural law) such board must carry the costs for Food For Thought * JACKY Asheeke was so right with her last column- why are the fathers of the dead children not being prosecuted? (Reference to the children who died in shack fires last week) Our justice system still protects men over women. In this cont Bouquets And Brickbats * ALEXACTUS Kaure, your column in Friday’s newspaper opened my eyes. One hardly finds impartial case study analysers in Namibia. Let’s not destroy the Polytechnic’s strong foundation (Tjivikua) as yet. At least wait until the transf
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BUSINESS - ECONOMY
| 2013-08-12
Brent climbs above US$107 on early signs of China stabilising
SINGAPORE – Brent crude climbed above US$107 a barrel on Friday, after settling at its lowest in more than a month in the previous session, as further data from China added to early signs that the world’s top energy consumer may be stabilising.
Although an imminent rebound in the world’s No.2 economy is still unlikely, steady consumer inflation in July and a slight easing in producer price deflation held out hope to markets already buoyed by Thursday’s strong trade numbers.
There was an overwhelming improvement in China’s commodity imports in July, with crude oil, iron ore and soybean shipments all climbing to record highs.
“The markets are probably underestimating the underlying oil demand in China because of all the recent policy changes that they had,” ANZ analyst Natalie Rampono said, adding that the country’s overseas purchases are expected to further rise in the second half as new refineries come online. Brent crude for September delivery was at US$107,09, up 41 cents, early on Friday after settling at its lowest since July 4. US crude was at US$104,26, up 86 cents, snapping five days of losses, its longest losing streak this year.
Despite the price rebound on Friday, both benchmarks are set to post a weekly loss as investors took profits ahead of September, when the US Federal Reserve is expected to start paring back its massive stimulus programme.
“The market is factoring in a September pullback in the Fed’s asset purchase programme,” Rampono said. “There could potentially be more profit-taking.”
The Fed’s move could tighten liquidity that has underpinned global markets, leading to a firmer dollar and weighing on commodities priced in the greenback by making them more expensive for holders of other currencies.
Oil prices could correct this month as speculators liquidate long positions that have hit record highs, said Yusuke Seta, a commodity sales manager at Newedge Japan.
US crude could fall further to US$102,50, while Brent is caught in a tight range between US$105, 40 and US$108, 20, he said.
Although an imminent rebound in the world’s No.2 economy is still unlikely, steady consumer inflation in July and a slight easing in producer price deflation held out hope to markets already buoyed by Thursday’s strong trade numbers.
There was an overwhelming improvement in China’s commodity imports in July, with crude oil, iron ore and soybean shipments all climbing to record highs.
“The markets are probably underestimating the underlying oil demand in China because of all the recent policy changes that they had,” ANZ analyst Natalie Rampono said, adding that the country’s overseas purchases are expected to further rise in the second half as new refineries come online. Brent crude for September delivery was at US$107,09, up 41 cents, early on Friday after settling at its lowest since July 4. US crude was at US$104,26, up 86 cents, snapping five days of losses, its longest losing streak this year.
Despite the price rebound on Friday, both benchmarks are set to post a weekly loss as investors took profits ahead of September, when the US Federal Reserve is expected to start paring back its massive stimulus programme.
“The market is factoring in a September pullback in the Fed’s asset purchase programme,” Rampono said. “There could potentially be more profit-taking.”
The Fed’s move could tighten liquidity that has underpinned global markets, leading to a firmer dollar and weighing on commodities priced in the greenback by making them more expensive for holders of other currencies.
Oil prices could correct this month as speculators liquidate long positions that have hit record highs, said Yusuke Seta, a commodity sales manager at Newedge Japan.
US crude could fall further to US$102,50, while Brent is caught in a tight range between US$105, 40 and US$108, 20, he said.
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