Latest news with #922
New Straits Times
7 days ago
- Business
- New Straits Times
Palm falls on weaker rival oils, rising May stock outlook
JAKARTA: Malaysian palm oil futures opened lower on Wednesday, tracking weaker rival edible oils at Chicago and the prospect of May's palm oil stocks rising for the third consecutive month. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange lost RM12, or 0.31 per cent, to RM3,922 (US$924.56) a metric ton in early trade. Dalian's most-active soyoil contract rose 0.1 per cent, while its palm oil contract declined 0.49 per cent. Soyoil prices on the Chicago Board of Trade were down 0.66 per cent. Palm oil tracks price movements of rival edible oils, as it competes for a share of the global vegetable oils market. Malaysia's palm oil inventories are projected to climb for a third consecutive month in May, driven by a modest recovery in production despite robust export demand, a Reuters survey showed on Wednesday. India's palm oil imports in May surged to a six-month high, as lower inventories and the tropical oil's discount to rival soyoil and sunflower oil prompted refiners to increase purchases, according to five dealers. Independent inspection company AmSpec Agri Malaysia said exports of Malaysian palm oil products for May rose 13.2 per cent, while cargo surveyor Intertek Testing Services saw a 17.9 per cent jump. Oil prices edged lower in early Asian trade, weighed down by a loosening supply-demand balance following increasing OPEC+ output and lingering concerns over the global economic outlook due to tariff tensions. Weaker crude oil futures make palm a less attractive option for biodiesel feedstock. The ringgit, palm's currency of trade, strengthened 0.05 per cent against the dollar, making the commodity slightly more expensive for buyers holding foreign currencies. Palm oil may retest resistance of RM3,968 per metric ton, a break above which could lead to a gain to RM3,998, Reuters technical analyst Wang Tao said. Asian stocks inched higher and the dollar wobbled near six-week lows as traders braced for higher US duties on steel and aluminium, the latest chapter in the trade war saga that has rattled the markets for much of the year.
Arabian Business
28-01-2025
- Business
- Arabian Business
Sharjah real estate: Alef Group records $373.5m of sales at ACRES 2025
Sharjah real estate developer Alef Group saw 1,006 sales and purchase agreements (SPAs) with a total value of AED1,371,547,922 ($373.5m) at the ACRES 2025 exhibition. The remarkable accomplishment highlights the strong demand for Alef Group's innovative, community-driven developments. During the four-day event at the Sharjah Expo Centre, Alef Group unveiled its newest project, Al Mamsha Hamsa, which attracted significant interest and positive feedback from investors and visitors alike. Alef Group Sharjah real estate sales The company also showcased its recently launched Olfah project and the Hayyan villa community, both of which continued to draw attention for their unique designs, modern amenities, and focus on creating high-quality, vibrant living environments. Issa Ataya, CEO of Alef Group, said: 'This achievement at ACRES 2025 reflects the confidence that investors and residents place in Alef Group's vision of redefining modern living. 'The launch of Al Mamsha Hamsa, alongside the sustained interest in Olfah and Hayyan, underscores our commitment to delivering sustainable and innovative developments that align with the aspirations of Sharjah's residents and elevate the emirate's real estate landscape.' Al Mamsha Hamsa, the latest addition to Alef Group's portfolio, combines contemporary living with pedestrian-friendly spaces and family-oriented amenities, setting a new standard for lifestyle communities. Olfah offers a tranquil retreat with a seamless blend of nature and modern design, while Hayyan remains a premier villa community in Sharjah, renowned for its expansive green spaces, privacy, and high-end amenities.
Khaleej Times
28-01-2025
- Business
- Khaleej Times
Alef Group signs 1,006 transactions valued at Dh1.37 billion at ACRES 2025
Alef Group, a leading real estate developer in Sharjah, signed 1,006 sales and purchase agreements (SPAs) with a total value of Dh1,371,547,922 during the ACRES 2025 Sharjah Real Estate Exhibition. During the four-day event at the Sharjah Expo Centre, Alef Group unveiled its newest project, Al Mamsha Hamsa, which attracted significant interest and positive feedback from investors and visitors alike. The company also showcased its recently launched Olfah project and the Hayyan villa community, both of which continued to draw attention for their unique designs, modern amenities, and focus on creating high-quality, vibrant living environments. Issa Ataya, CEO of Alef Group, commented: 'This achievement at ACRES 2025 reflects the confidence that investors and residents place in Alef Group's vision of redefining modern living. The launch of Al Mamsha Hamsa, alongside the sustained interest in Olfah and Hayyan, underscores our commitment to delivering sustainable and innovative developments that align with the aspirations of Sharjah's residents and elevate the emirate's real estate landscape.' Al Mamsha Hamsa, the latest addition to Alef Group's portfolio, combines contemporary living with pedestrian-friendly spaces and family-oriented amenities, setting a new standard for lifestyle communities. Olfah offers a tranquil retreat with a seamless blend of nature and modern design, while Hayyan remains a premier villa community in Sharjah, renowned for its expansive green spaces, privacy, and high-end amenities.
