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Oil prices rise on report of lower US crude inventories

SINGAPORE, Feb 07 (Reuters): Oil prices rose on Wednesday, lifted by a report that US crude inventories fell last week, although analysts warned that soaring US output and a seasonal demand drop could soon weigh on crude.Brent crude futures were at $67.44 per barrel at 0751 GMT, up 58 cents,...

ATR sells four turboprop aircraft to Bangkok Airways

SINGAPORE, Feb 7 (Reuters): Turboprop maker ATR said on Wednesday it had signed a deal worth more than $100 million to sell four ATR 72-600s to Bangkok Airways, in the first commercial aircraft deal agreed at the Singapore Airshow.Bangkok Airways is one of the largest operators of ATR aircraft and...

Plain end-of-season types on offer

A large weight of teas was on offer of which the majority was plain end of season types. Buyers were more selective whilst teas with fair liquors were being sold at the tea market on Tuesday. Plain and poor types were generally neglected. As a result, withdrawals were heavy in...

DHL Global Forwarding appoints new PNG country manager

PAPUA NEW GUINEA, Feb 07: DHL Global Forwarding, the leading international provider of air, sea and road freight services, has appointed Skerry Palanga as Country Manager, Papua New Guinea (PNG), says a Media OutReach release. With the appointment, Palanga will lead and manage the country's operations and be responsible for...

China aims to meet 2020 target for steel capacity cuts this year

SHANGHAI, Feb 07 (Reuters): China aims to meet its 2020 target for reducing steel production capacity this year, two years earlier than planned, the industry ministry said in a statement on Wednesday.The original plan called for reducing 150 million tonnes of steel production capacity by 2020.However, the world's top producer...

Gold up from three-week low

BENGALURU, Feb 7 (Reuters): Gold prices rose on Wednesday as investors used dips to accumulate the yellow metal after it dropped more than one per cent to its lowest in over three weeks in the previous session.Spot gold was up 0.3 per cent to $1,328.86 per ounce, as of 0444...