NEW DELHI, June 10: Amid profit-booking by speculators and weak trend overseas, zinc futures prices today edged lower by 0.38 per cent to Rs 126.60 per kg.
At the Multi Commodity Exchange, zinc for delivery in July shed 45 paise, or 0.38 per cent, to Rs 126.60 per kg, with a business turnover of 8 lots.
The metal for delivery in June fell by a similar margin to Rs 126.05 per kg in a turnover of 431 lots.
Marketmen said besides profit-booking, weakness in copper and other base metals at the London Metal Exchange amid concern that a metal-warehousing probe at the Chinese port of Qingdao will curb use of the metal in obtaining credit in China, the biggest user of the metals, weighed on zinc futures here. (PTI)
Zinc futures marginally down on profit-booking
Air India Football Club players receiving winners trophy from Ministers, Raman Bhalla and Taj Mohi-ud-Din after lifting the Kashmir Invitational Football Cup title in Srinagar.

Air India Football Club players receiving winners trophy from Ministers, Raman Bhalla and Taj Mohi-ud-Din after lifting the Kashmir Invitational Football Cup title in Srinagar.
USD 5.68 mn research to provide solar electricity any time
MELBOURNE, June 10: Australian scientists are working on a USD 5.68 million research programme, where they are developing advanced solar storage to provide solar electricity at any time, day or night.
The research led to a breakthrough when CSIRO used solar energy to generate hot and pressurised ‘supercritical’ steam, at the highest temperatures ever achieved in the world outside of fossil fuel sources.
Supercritical steam is a breakthrough for solar energy and means that one day the sun could be used to drive the most advanced power stations in the world, currently driven only by coal or gas.
The new development was made at Newcastle based energy centre of Commonwealth Scientific and Industrial Research Organisation (CSIRO), a national science agency and one of the largest and most diverse research agencies in the world.
CSIRO’s Energy Director, Alex Wonhas said this milestone is a game-changer for the renewable energy industry.
“It’s like breaking the sound barrier; this step change proves solar has the potential to compete with the peak performance capabilities of fossil fuel sources,” he said.
“Instead of relying on burning fossil fuels to produce supercritical steam, this breakthrough demonstrates that the power-plants of the future could instead be using the free, zero emission energy of the sun to achieve the same result,” Wonhas said.
The Centre includes two solar thermal test plants featuring more than 600 mirrors (heliostats) directed at two towers housing solar receivers and turbines.
Supercritical solar steam is water pressurised at enormous force and heated using solar radiation.
Around 90 per cent of Australia’s electricity is generated using fossil fuel, but only a small number of power stations are based on the more advanced supercritical steam.
The world record, set in May this year, was at a pressure of 23.5 megapascals (a measure of force per unit area), and temperatures up to 570 degrees Celsius.
It is the combination of pressure and temperature demonstrated at scale that makes this such a breakthrough for solar power.
Commercial solar thermal power-plants around the world use subcritical steam, operating at similar temperatures but at lower pressure.
If these plants were able to move to supercritical steam, it would increase the efficiency and help to lower the cost of solar electricity.
Although there is still work to be done before this technology is ready for commercialisation, ARENA CEO Ivor Frischknecht acknowledged the significant achievement saying it demonstrates the importance of research and development.
“This breakthrough brings solar thermal energy a step closer to cost competitiveness with fossil fuel generated power,” said Frischknecht.
The research is supported by Australian Renewable Energy Agency (ARENA) and is part of a broader collaboration with Abengoa Solar, the largest supplier of solar thermal electricity in the world. (PTI)
Students performing dancing activity during Summer Camp at M V International School.
Students performing dancing activity during Summer Camp at M V International School.
US offers assistance to Pak into Karachi attack investigation
WASHINGTON, June 10: Strongly condemning the terrorist attack at the Karachi international airport, the US has offered assistance to Pakistan into investigating the incident.
“We have offered assistance to the relevant Pakistani authorities investigating this heinous crime,” a State Department spokesperson told. Both the White House and the State Department offered deepest condolences to the attack.
“The United States condemns the attack on the Karachi airport. Our hearts go out to the families of the victims and those who were wounded in that attack,” White House Deputy Press Secretary Josh Earnest, said yesterday.
“We extend our deepest condolences to the families and friends of the victims of Sunday’s brazen attack on Karachis Jinnah International Airport. We wish those who were injured a full and speedy recovery,” State Department Spokesperson, Jen Psaki, said.
“The United States condemns this brutal attack and stands steadfast in its commitment to the people of Pakistan in their efforts to counter terrorism and build a peaceful future. We support Pakistan’s efforts to bring all those involved in planning and executing this attack to justice,” she said in a statement.
The State Department Deputy Spokesperson, Marie Harf, said the United States works very closely with the Pakistani Government on counterterrorism.
“There are a number of groups operating in – particularly in the cross-border area. We’ve worked with them for many years, because of course, the Pakistani people themselves have been, as we just saw, tragically the victims of many of these terrorist attacks,” she said in response to a question.
The United States, she said, is concerned about different groups operating there, including the Pakistani Taliban. “But we do know the Pakistani Government has a responsibility and an obligation to protect its citizens and to take appropriate counter terrorism measures,” she said.
Refraining from making any comment on the airstrike being carried by the Pak Army against Tehrek-e-Taliban Pakistan (TTP) hideouts in the tribal areas of Pakistan, Harf said it is for Islamabad to decide as to the kind of counter terrorism measures it wants to take against terrorists.
“I think that terrorist groups like the TTP should stop attacking innocent civilians. I think the Pakistani Government has a responsibility to protect their people and that there’s no equivalency between the two in any way,” she said.
“We’ve offered to the relevant Pakistani authorities, but more broadly speaking, we work very closely, as you know, with a host of folks in Pakistan on the counter terrorism threat. Whether it’s military, intel, diplomatic, we have a very wide-ranging bilateral relationship on this issue specifically,” she said.
Harf said as the Pakistanis undertake counter terrorism operations, the US has worked with them, or at least advised them, to take civilian life into account.
“Innocent civilians are the targets of these terrorists. The government’s job is to protect their people, so that’s what the Pakistani Government is doing. They’re determining the best way to do that, period,” she said. (PTI)
Aluminium futures down 0.31 pc
NEW DELHI, June 10: Aluminium futures prices fell by 0.31 per cent to Rs 113.10 per kg today as speculators trimmed positions amid a weak trend in metal at the London Metal Exchange.
At the Multi Commodity Exchange, aluminium for delivery in July fell by 35 paise, or 0.31 per cent, to Rs 113.10 per kg, with a business turnover of 16 lots.
The metal for delivery in June fell by 30 paise, or 0.27 per cent, to trade at Rs 112.40 per kg in a turnover of 350 lots.
Marketmen said besides weakness in metals at the London Metal Exchange, subdued industrial demand at domestic spot markets also put pressure on aluminium prices at futures trade here. (PTI)
Nickel futures down on global trend, subdued spot demand
NEW DELHI, June 10: Nickel futures today traded lower by 0.38 per cent to Rs 1,116.20 per kg largely in tune with a weakening trend overseas amid subdued spot demand.
At the Multi Commodity Exchange, nickel for delivery in June weakened by Rs 4.30 paise, or 0.38 per cent, to Rs 1,116.20 per kg in business turnover of 1,032 lots.
Similarly, the metal for delivery in July traded lower by Rs 4.20, or 0.37 per cent, to Rs 1,121.50 per kg in 20 lots.
Market analysts said apart from weak demand from alloy-makers at domestic spot markets, a weak trend in the base
metals pack at the London Metal Exchange mainly weighed on nickel prices at futures trade here. (PTI)
Crude oil futures firm up on overseas cues
NEW DELHI, June 10: Crude oil futures prices rose by 0.55 per cent to Rs 6,193 per barrel today as speculators created fresh positions, tracking a firming trend in Asia.
At the Multi Commodity Exchange, crude oil for delivery in July traded Rs 34, or 0.55 per cent, higher at Rs 6,193 per barrel, with a business turnover of 176 lots.
The oil for June also moved up by Rs 33, or 0.53 per cent, to Rs 6,214 per barrel, with a business volume of 2,042 lots.
Market analysts attributed the rise in crude oil futures to a firming trend in Asia as investors cheered robust economic data from US, China and Japan, with the breakdown of initial Ukraine-Russia talks to avert a gas cut-off also boosting prices.
Meanwhile, West Texas Intermediate crude prices for July delivery rose 26 cents to USD 104.82 a barrel on the New York Mercantile Exchange. (PTI)
Don’t ask me about plastic surgery: Kate Hudson
LONDON, June 10: Actress Kate Hudson is fed up of rumours that she has had plastic surgery.
Hudson, 35, who allegedly had breast implants and a nose job in 2010, said people should rather focus on how she treats people instead of how she looks, reported Contactmusic.
“That’s like asking someone if they see a therapist–and why? If someone wants to go get butt implants, then sure, go get butt implants. The real question is, How do they treat the person next to them?,” she said.
The blonde beauty isn’t a fan of the paparazzi or bloggers.
“I just look at the paparazzi and mentally cut their heads off. The negativity is just so vast. Will everybody stop being so damned judgmental?,” she added. (PTI)
UBI expects total business to grow by 12 pc this fiscal
VARANASI, June 10: State-run Union Bank of India (UBI) has said it expects the total business to grow by around 12 per cent in the current fiscal over the Rs 5.32 lakh crore turnover achieved in FY 2013-14.
The bank’s rising bad assets or NPAs (non-performing assets) is a major concern, UBI Chairman and Managing Director Arun Tiwari told reporters here yesterday, adding that with an improvement in the Indian economy, the NPAs may come down.
UBI’s gross NPAs surged to Rs 9,563.72 crore last fiscal from Rs 6,313.83 crore in 2012-13.
On the government’s plan to merge state-run banks into three-four large banks, Tiwari said, “It is easy to merge the banks’ balance sheets but it would not be easy to merge their culture.”
Earlier yesterday, while inaugurating all India Conclave of Directors of Rural Self Employment Training Institute (R-SETI) operated by UBI, Tiwari said, “It is the responsibility of R-SETI directors to uplift the social and economic level of people in the society from the bottom of the pyramid by giving them handholding and self employment training.”
He said UBI is taking initiative in national financial inclusion plan and committed for upliftment of society by providing maximum assistance to agriculture, self-help groups (SHGs) and micro credit.
During the credit camp, the bank provided financial assistance totalling Rs 125 crore to more than 3,617 borrowers, he said.
UBI General Manager (Varanasi zone) H K Behera, who was also present at the event, said the bank is committed to expand its presence in rural areas and increase its branches to 600 by March 2015. (PTI)
