Tuesday, November 03, 2009 SINGAPORE: Oil rose further in Asian trade Tuesday, underpinned by a better-than-expected expansion in the US manufacturing sector, analysts said. A weak greenback, which makes dollar-priced crude cheaper for holders of stronger currencies, was also an extra factor behind the higher futures, they added. New York's main contract, light sweet crude for December delivery, advanced 26 cents to 78.39 dollars a barrel. Brent North Sea crude for December delivery gained 19 cents to 76.74 dollars. The two contracts closed firmer Monday, buoyed in part by the US manufacturing expansion.The Institute of Supply Management said Monday its factory index, also known as the purchasing managers index, grew for a third consecutive month in October with a reading of 55.7 percent. It was stronger than market expectations for a reading of 53 percent and the highest rate of growth since April 2006. Any number above 50 indicates growth. "The reading marks the highest point in three and a half years," said Dariusz Kowalczyk, chief investment strategist with SJS Markets securities firm. Among the sub-indexes in the survey, the employment index was 53.1 percent, marking a sharp turnaround from last month's 46.2 percent and suggesting that factories are starting to add jobs. "This is the first time in a year and a half that US manufacturers increased employment, a factor that bodes well for Friday's payrolls report," said Kowalczyk.
Sunday, February 28, 2010 HAVANA: Hundreds of wealthy merchants and cigar aficionados from all parts of the world gathered in Havana this week to bid high stakes for humidors full of premium cigars. Cuba's annual Habanos festival ended on Friday night with an auction of ornate humidors of cedar and mahogany stacked with hand-rolled stogies that raised 800,000 euros ($1.09 million dollars). Habanos S.A. executives this month said cigar sales fell 8 percent to $360 million in 2009, so they have created the Julieta, a smaller, milder version of the Romeo y Julieta cigar, aimed specifically at female smokers. Women now make up only 5 to 10 percent of customers for Habanos. But even with the creation of the Julieta, Garcia said Habanos has only modest hopes for 2010 sales, due largely to a weak economy in Spain, the biggest market for Cuban cigars. The flavor of premium tobacco relies on the soil and climate in which it is grown. The western province of Pinar Del Rio, famous fo...
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