In the meeting at Brussels, Bank of Cyprus
entered into bailout deal with Eurozone finance ministers, preventing island
nation's banking system from collapsing. Cyprus, the country of about 800,000
people has a banking sector eight times larger than its gross domestic product,
has been given a bailout amounting to €10 billion by the International Monetary
Fund and the European Union.
Under the country's Economic Transformation
Programme (ETP), Malaysia plans to introduce a second edition of strategies in
the next few months to ensure growth of both the upstream and downstream
sectors of the domestic natural rubber industry. The government has initiated
two ETP, which aims at increasing current rubber productivity of 1,500 kg/hectare
to 2,000 kg/hectare annually by 2020 and ensuring the sustainability of the
upstream rubber industry. ETP is an initiative that was launched in 2010 by Malaysia
to transform the country into a high income economy by 2020 and the rubber
industry is expected to contribute MR52.9 billion to gross national income by
2020.
Today, On the Tokyo Commodity Exchange, April
futures series closed at ¥263.5, May at ¥267, June at ¥270.3, July at ¥273.1,
August at ¥275.8 and the contract for delivery in September closed at ¥279.2 a
kg. In the domestic futures market, the April 2013 series is currently trading
at `.166.10 a kg, May at `.170.14, June at `.171.31,
and July at `.172 a kg on the National Multi Commodity Exchange. In
the local market RSS4 grade rubber closed at `.168 a kg and the
price of RSS3 grade closed at `.160.43 per kg at
Bangkok. While Malaysian SMR 20, closed at `.148.91 a kg.
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