Bullion prices up

KATHMANDU: Gold price in the local bullion market this week saw a rise of Rs 25 per 10 gram against last week’s price. Price increment of petroleum products has resulted in the rise of gold price in the international markets, which touched $668 per ounce from $659 last week, according to Nepal Gold and Silver Dealers’ Association (NEGOSIDA). The local bullion market opened on Sunday with Rs 15,450 per 10 gram of precious yellow metal and closed at Rs 15,475 on Friday. Likewise, the price of silver also rose to Rs 330 per 10 gram from Rs 328.50 on Sunday. The US dollars also depreciated against the major currencies in the market. — HNS

P’pines BoP surplus

MANILA: The Philippines posted a balance of payments (BoP) surplus of $731 million in January down from a surplus of $1.925 billion for the same period last year. This was due to the proceeds of the national government’s bond issue, and the central bank’s investment income and foreign exchange operations. The strong dollar remittances from Filipinos abroad and the influx of foreign money into local financial markets have pushed the peso to fresh highs. — AFP

US industrial output

WASHINGTON: US industrial output fell in January by the largest amount in 17 months, reflecting huge cutbacks at auto factories and weakness in housing-related industries. The Federal Reserve reported on Thursday that output at US factories, mines and utilities was down by 0.5 per cent in January, the biggest setback since Hurricane Katrina disrupted activity in the fall of 2005. Half of last month’s decline reflected a drop of six per cent in output at auto and auto parts factories with smaller setbacks. — AP

Industrial production

MOSCOW: Russian industrial output fell by 11.7 per cent in January from the December level. It said production usually declined in January because of the number of holidays in the month.

Compared with January 2006 industrial production rose by 8.4 per cent. — AFP

S’pore’s exports up

SINGAPORE: Singapore’s main exports rose by 11.1 per cent in January to reverse December’s sharp decline following stronger shipments of ph-armaceuticals and electronics. — AFP