Latest news with #254
Barnama
2 days ago
- Business
- Barnama
CPO Futures Close Higher On Stronger Soybean Oil Prices
By Nur Athirah Mohd Shaharuddin KUALA LUMPUR, July 29 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed higher on Tuesday on the back of stronger soybean oil prices, according to palm oil trader David Ng. However, he noted that expectations of rising production and subdued demand are limiting further price gains. "We see CPO prices supported above RM4,250 and resistance at RM4,400 a tonne," he told Bernama. At the close, the spot-month August contract gained RM38 to RM4,188 per tonne, September 2025 added RM8 to RM4,231 per tonne, and October 2025 edged up RM12 to RM4,254 per tonne. The November 2025 contract increased RM16 to RM4,269 per tonne, December 2025 climbed RM19 to RM4,279 per tonne, and January 2026 put on RM21 to RM4,284 per tonne. Trading volume jumped to 61,890 lots from 48,430 lots on Monday, while open interest slipped to 224,301 contracts from 226,093 contracts previously. The physical CPO price for July South rose RM10 to RM4,210 per tonne. -- BERNAMA
New Straits Times
4 days ago
- Business
- New Straits Times
Palm falls on weak rival oils, stronger crude oil limits decline
KUALA LUMPUR: Malaysian palm oil futures opened lower on Monday for a second session, tracking weakness in rival edible oils, although stronger crude oil prices capped the fall. The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange slid RM19, or 0.44 per cent, to RM4,254 (US$1,008.30) a metric ton in early trade. Dalian's most-active soyoil contract fell 0.42 per cent, while its palm oil contract shed 0.78 per cent. Soyoil prices on the Chicago Board of Trade were down 0.38 per cent. Palm oil tracks price movements of rival edible oils, as they compete for a share of the global vegetable oils market. Oil prices rose after the US reached a trade deal with the European Union and may extend a tariff pause with China, reducing concerns that potentially higher levies would limit economic activity and impact fuel demand. Stronger crude oil futures make palm a more attractive option for biodiesel feedstock. Cargo surveyors estimated that exports of Malaysian palm oil products for July 1–25 fell between 9.2 per cent and 15.2 per cent from a month earlier. The ringgit, palm's currency of trade, weakened 0.02 per cent against the dollar, making the commodity slightly cheaper for buyers holding foreign currencies. Palm oil may test support at RM4,211 per metric ton, a break below which could open the way towards RM4,161, Reuters technical analyst Wang Tao said.
Business Recorder
10-05-2025
- Politics
- Business Recorder
UN special envoy to combat Islamophobia: Pakistan greets appointment of Miguel Ángel Moratinos
ISLAMABAD: Pakistan warmly welcomed the appointment of the High Representative of the United Nations Alliance of Civilizations (UNAOC), Miguel Ángel Moratinos, as the United Nations Special Envoy to Combat Islamophobia, pursuant to General Assembly Resolution 78/264, entitled, 'Measures to Combat Islamophobia.' This historic appointment marks a major milestone in the United Nations' efforts to combat the alarming rise in Islamophobia, hatred, intolerance, and discrimination against Muslims worldwide. Pakistan takes pride in having initiated, led, and successfully steered, on behalf of the OIC, the adoption of General Assembly Resolution 78/264, which established the mandate for the Secretary-General to appoint a Special Envoy to Combat Islamophobia. This builds on Pakistan's earlier leadership in the adoption of General Assembly Resolution 76/ 254, which proclaimed 15 March as the International Day to Combat Islamophobia. The appointment of the Special Envoy is timely and essential, as Islamophobia continues to escalate to deeply alarming levels around the world. Pakistan observes with grave concern the organised campaigns of vilification against Muslims, attacks on mosques, assaults on Muslim communities, and unprovoked aggressions against Muslim-majority countries — often perpetrated by those who hypocritically claim to uphold democratic and secular values. Such systematic and deliberate acts, driven by supremacist ideologies and populist rhetoric, endanger international peace and security, and gravely undermine the foundational principles of the United Nations Charter. There is an urgent need for enhanced and coordinated global action to promote respect for religious and cultural diversity, foster mutual understanding, and uphold the dignity, rights, and freedoms of all peoples. Pakistan remains firmly committed to continuing its leadership role in the global fight against Islamophobia, promoting interfaith harmony, and advocating for the protection of all religious communities. Pakistan also eagerly anticipates the Secretary-General's forthcoming comprehensive Action Plan to Combat Islamophobia, which will provide a much-needed strategic framework to guide international efforts against this rising menace. Pakistan looks forward to working closely with the Special Envoy in fulfilling his important mandate and supporting efforts to advance a world anchored in tolerance, coexistence, and justice. Copyright Business Recorder, 2025
Khaleej Times
25-02-2025
- Khaleej Times
Pakistan actor's son confesses to drug trafficking
Sahir Hasan, the son of Pakistani actor Sajid Hasan, has confessed to being involved in the buying and selling of drugs, reported ARY News. Sahir is currently on physical remand for his involvement in the Mustafa Amir murder case. He was taken into custody by police during a crackdown on drugs following the Mustafa Amir murder Karachi. According to sources, he admitted to his involvement in the drug business and named several prominent individuals, linked to the drug trade. The suspect reportedly admitted to transferring drug payments online through his father's manager's bank account. He revealed that he had been modelling for five years and addicted to narcotics for 13 years. He also confessed to selling narcotics over a period of two years over Snapchat. He sourced narcotics from people named Bazil and Yahya and smuggled drugs worth millions through courier companies, sources were quoted as saying by ARY News. The suspect disclosed that he paid between Pakistani Rupees (PKR) 400,000 to 500,000 (Dh5,254 to Dh6,568) weekly and procured over a kilogram of drugs twice a month. On Thursday, police claimed that the suspect Armaghan confessed to the murder of Mustafa Amir during interrogation. In his confessional statement to police, Armaghan revealed that he drove the car from Khayaban-e-Mohafiz to Dareji. He later set the vehicle on fire while Mustafa was still alive and semi-conscious. The suspect admitted to assaulting the deceased and firing three warning shots with a rifle that did not hit him.
