Gold prices edged higher in early Asian trade on Wednesday as U.S. Treasury yields eased from recent highs, while market participants awaited the release of the Federal Reserve’s meeting minutes.

FUNDAMENTALS

Spot gold was up 0.2% at $4,342.33 per ounce, as of 0030 GMT after falling nearly 2% on Tuesday. Meanwhile, U.S. gold futures for December delivery ‌edged 0.6% ⁠lower to $4,396.30.
⁠U.S. yields backed off earlier highs, switching directions amid a global bond selloff that saw ​long-term borrowing costs in major economies edge toward their highest levels in decades. [US/]

U.S. ​President Donald Trump said no talks were taking place with Iran and insisted the Strait of Hormuz was open, contradicting Iran’s assertion that the critical ​waterway remained shut to shipping. The receding prospects ⁠of a ‌deal to end the nearly six-month conflict drove up oil ​prices. [O/R]

Rising ​energy prices could bolster the case for higher interest ⁠rates to rein in inflation, despite recent U.S. economic indicators ​showing unexpected employment losses, milder inflation, and weak July ​retail spending.

Despite gold being known as an inflation hedge, higher rates usually weigh on gold prices as they strengthen the dollar and make yield-bearing assets more attractive to investors.
The Fed’s release of minutes from the most recent meeting of its monetary policy-setting Federal Open Market Committee is ‌due at 1800 GMT.Traders are currently pricing in a 65% probability that the U.S. central bank will keep rates ​unchanged and a ​35% chance of ⁠a rate hike in September, according to the CME FedWatch Tool.

Meanwhile, the Bank of England will leave interest rates unchanged at 3.75% for the rest of the year, according to a strong majority of economists polled by Reuters.

Among other metals, spot silver fell 0.5% to $62.99 per ounce. Platinum climbed 0.3% to $1,717.03, while palladium lost 0.3% at $1,286.73.

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The biopharmaceutical and biotechnology company Symbiotec Pharmalab is set to tap the capital markets with an initial public offering (IPO) worth Rs 1,757 crore. The company has fixed the price band at Rs 938–Rs 988 per share, with the issue opening for subscription on August 24, 2026, and closing on August 27, 2026.

Investors can bid for a minimum of 15 equity shares, with bids thereafter available in multiples of 15 shares. At the upper end of the price band, the minimum investment will be Rs 14,820.

The IPO is proposed to be listed on both the BSE and NSE, with the tentative listing date scheduled for September 1, 2026. The allotment is likely to be finalised on August 28, 2026.

The company is offering eligible employees a Rs 90-per-share discount on bids made through the employee reservation portion.

Valuation Under the Spotlight

Symbiotec Pharmalab’s IPO valuation is likely to attract close attention from investors. Based on diluted earnings per share for fiscal 2026, the price-to-earnings (P/E) ratio stands at 49.37 times at the lower end of the price band and rises to 52.00 times at the upper end.

The company’s weighted average return on net worth for the last three financial years was 10.99%.
With the IPO price band translating to 469 times the face value at the floor price and 494 times at the cap price, the issue is positioned as a premium offering in the pharmaceutical and biotechnology space.

Where Will the IPO Proceeds Go?

The primary objective of the issue is to strengthen the company’s balance sheet. Symbiotec Pharmalab plans to use the proceeds for prepayment and/or repayment, either fully or partially, of certain outstanding borrowings. The remaining funds will be utilised for general corporate purposes.

Symbiotec Pharmalab

Founded in 2002, Symbiotec Pharmalab operates across the biopharmaceutical and biotechnology space, developing and manufacturing active pharmaceutical ingredients (APIs), nutritional ingredients and specialised products for domestic and international markets.

The company’s journey began with laboratory-scale manufacturing of steroidal-hormone APIs in 1995. Over the years, it has expanded into an industrial-scale, backward-integrated manufacturing platform serving the pharmaceutical, nutraceutical and wellness sectors.

Research-driven manufacturing, quality and sustainability form key elements of its business strategy. Its manufacturing operations have also secured approvals and certifications from several international regulatory bodies, including the US FDA, EU-GMP authorities and South Korea’s Ministry of Food and Drug Safety.

As of June 30, 2025, Symbiotec Pharmalab operated two industrial-scale API manufacturing plants. Together, these facilities had a maximum capacity of 584.67 metric tonnes (MT) for chemical synthesis and 300 kilolitres of fermentation capacity.

The combination of backward integration, specialised API capabilities and international regulatory approvals gives the company an established position in a segment where manufacturing quality and regulatory compliance can be critical differentiators.

IPO Management Team

The IPO is being managed by JM Financial, Avendus Capital, Motilal Oswal Investment Advisors and Nomura Financial. MUFG Intime India Pvt. Ltd. is acting as the registrar to the issue.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Travelling abroad with children often involves careful logistics, tight schedules, and strict luggage limits. For families heading to mainland Europe, taking the car on a ferry from England to France removes much of this traditional airport stress.

With regular departures from Kent, the Dover-France ferry routes provide a practical, flexible way to start a holiday, allowing parents to pack exactly what they need while offering children space to move around before the real driving begins.

Packing Without the Weight Restrictions

The most immediate benefit of a self-drive ferry holiday is the freedom to pack heavily. When you take your own vehicle, there are no restrictive weight limits, liquid rules, or expensive baggage fees. Families can easily fit in bulky essentials like pushchairs, travel cots, camping gear, and bicycles. You can also load up the boot with familiar snacks and toys to keep younger children entertained during the longer driving stretches on the continent. Heavy items stay safely locked in the car while you head up to the passenger decks.

Building a Natural Break into the Journey

Long car rides can be taxing for young passengers, but a ferry crossing naturally breaks up the trip. The crossing from Dover to Calais takes around 90 minutes, while the Dover to Dunkirk route takes roughly two hours. Rather than being strapped into a car seat or cramped in an aeroplane row, children can walk around the ship, look out at the sea, and use the onboard play areas.

The ship itself becomes part of the adventure. Instead of sitting in a crowded departure lounge, children can stand on the outer decks watching the White Cliffs of Dover slowly fade into the distance. Inside, family-friendly dining areas mean you can enjoy a hot meal together without the constraints of a fold-down tray table. This early break ensures everyone arrives on the continent fed, rested, and ready for the next stage of the journey.

Taking the Family Dog

For many families, a holiday isn’t complete without the dog. Ferries offer a much simpler route for pet travel compared to flying. Depending on the operator and the route, dogs can either stay securely in your vehicle or travel in dedicated pet lounges. Taking the ferry means your pet stays with you for the journey to the port, experiences a short crossing, and arrives in France ready for a coastal walk. Always check the latest UK and EU pet travel regulations regarding animal health certificates and vaccinations before booking.

Easy Arrival in Calais or Dunkirk

Both Calais and Dunkirk are exceptionally well-equipped for families arriving by car. If you take the ferry to Calais, you have immediate access to the wide sandy beach of Calais Nord, complete with playgrounds and the famous mechanical Dragon of Calais—a guaranteed hit with kids.

If you want an easy win on your first day, the Nausicaá National Sea Centre in Boulogne-sur-Mer is only a thirty-minute drive south of Calais. As one of the largest public aquariums in Europe, it is an ideal first-day activity that requires very little driving. Alternatively, if you opt for Dunkirk, the coastal suburb of Malo-les-Bains offers a gentle, expansive shoreline perfect for a relaxed afternoon building sandcastles.

Keeping the First Driving Day Short

When travelling with younger children, the key to a stress-free start is limiting your mileage on day one. Fortunately, the coastal region of Hauts-de-France is packed with family-friendly campsites, holiday parks, and hotels just a short distance from the ports. Keeping the first drive under an hour allows the designated driver to comfortably acclimatise to driving on the right-hand side of the road, while the kids can quickly transition from the ferry to the swimming pool.

Tips for a Smooth Family Crossing

Planning ahead makes all the difference when travelling with children. Booking your tickets in advance using comparison platforms like Ferryhopper allows you to secure the most convenient sailing times for your family’s routine.

• Pack a Deck Bag: Put everything you need for the crossing—nappies, snacks, tablets, and light jackets—in one small bag to take upstairs. You cannot return to your car during the sailing.
• Time Your Travel: Consider booking a crossing that aligns with lunch or a natural rest period.
• Arrive Early: Leave plenty of time to navigate border control at the Port of Dover so you don’t feel rushed before boarding.

For families, the holiday truly begins the moment you drive onto the ship. By removing the hassle of airport queues and luggage restrictions, the ferry provides a calm and practical gateway to Europe.

Plans revamped after first application rejected due to lighting issues

Almost 100 new flats are to be created in a former HMRC office building in Liverpool city centre at the second attempt. Having initially been knocked back over lighting issues, the nine storey Imperial Court building on Exchange Street East is to be recommissioned as a housing development.

Earlier this year, city planners rejected an application by Seth Real Estate to develop 106 apartments in the former government block. This was due to concerns over “inadequate light levels.”

These have been addressed through extensive restructuring, including reducing the number of apartments from 106 to 95. The apartments, totalling 214 rooms, will stretch from the first to ninth floors.

Retail units on the ground level are to be retained. Amenity spaces including cycle storage and a gym have been added in areas where habitable rooms, such as bedrooms, dining rooms and kitchens, failed to meet daylight targets.

The basement will provide residential parking with 50 spots with the building fronting Dale Street, bounded by Exchange Street East and Hackins Hay. It sits between the Mason Building and 26 Exchange Street East.

A total of 64 apartments will have only one bedroom while 31 will have two. A further 130 cycle parking spaces are to be provided.

A design and access statement said: “The proposed change of use, together with the external alterations, seeks to regenerate the currently vacant site and re-establish its prominence within the established City Centre location. The design adopts a sensitive and considered approach, employing a carefully selected material palette and detailing, that respond to its setting within the Castle Street Conservation Area.

“At its core, the proposal draws inspiration from the immediate context, interpreted through a contemporary architectural language, to enhance and enrich the character of the area.” A city council report recommending the scheme go ahead added: “Whilst all habitable rooms are reported as compliant, there are a number of rooms that only achieve marginal compliance, with just above 50% of effective floor area meeting the minimum daylight levels as listed below.

“The application site falls in a highly sustainable location, within central Liverpool. All amenities and transport facilities are within walking distance. As such, residents do not need to rely on private vehicles as their primary travel choice.

“The development will likely have a low car parking demand.” The building was vacated by HMRC when staff made the move to the India Buildings on Water Street.

The site houses more than 5,000 employees but was delayed in welcoming staff owing to the onset of the coronavirus pandemic. Imperial Court closed to staff in July 2021 with relocation plans for staff discussed as early as 2015.

It was one of four sites in the city to close, with thoughts that staff would initially move in the 2018/19 financial year. The India Buildings base is one of the largest HMRC regional centres across the UK.

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