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.
BEIRUT: Thousands of people converged Saturday on central Beirut to mark the fourth anniversary of the assassination of Lebanese former premier Rafiq Hariri.Waving Lebanese flags and carrying pictures of the slain leader, men, women and children gathered under sunny skies in Martyr's Square where members of the parliamentary majority were to address the crowd. The rally comes as final preparations are underway in The Hague for the launch of the international tribunal set up to bring Hariri's killers to justice. It also comes as the country prepares for legislative elections in June that will pit Western-backed political parties against a Hezbollah-led alliance backed by Syria and Iran.Hariri died in a massive car bombing on February 14, 2005 that also killed 22 others. The assassination was widely blamed on then Lebanese power-broker Syria, which has denied any involvement. The attack on the Beirut seafront was one of the worst acts of political violence to rock Lebanon since t...
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