GOLD NEWS BUSINESS

Gold climbs above $900 LONDON: Gold climbed above $900 an ounce on Monday to its highest level in more than three months, as interest in bullion as a haven from risk spurred buying, and the dollar weakened against the euro. Spot gold was at $903.15/904.75 an ounce at 1358 GMT, up from $898.10 in New York late on Friday. Earlier it peaked at $908.65, its firmest level since October 10. US gold futures for February delivery on the COMEX division of the New York Mercantile Exchange were up $7.50 at$903.30. Gold priced in euros reached an all-time high of 701.55 an ounce. FFBL nominates new chairman KARACHI: The board of directors of Fauji Fertiliser Bin Qasim has nominated Lt Gen (Rtd) Hamid Rab Nawaz as new chairman of the board.According to a communique of the company dispatched to the Karachi Stock Exchange (KSE) here on Monday, Lt Gen Nawaz and Brig (Rtd) Liaqat Ali have been appointed directors in place of Syed Arif Hasan and Brig (Rtd) Aslam Paunwar Khan. PQ activity KARACHI: Berth occupancy was 70 per cent at the Port Qasim during 24 hours ended 0800 hours on Monday. Eight ships MSC Maria Laura, Saudi Diriyah, Bux Lagoon, Zeynep-G, Dijks Gracht, Tai Prosperity, Strilen and Ben Aicha were loading/offloading containers, cement, wheat, palm oil and phosphoric acid during the reported period. Cargo handling stood at 41,345 tons comprising 33,146 tons of import and 8,199 tons of export cargo. Maersk Iowa, China Star, Swat, Britannia and Donau were expected to take berths at the Qasim International Container Terminal, FOTCO Oil Terminal, Iron Ore and Coal Berth and Engro Vopak Terminal later on Monday. Oil tanker Sea Sky was due at the port the same day while another ship Wiebke is due on Tuesday.