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Even if you don't think you do, you already know plenty about commodities. Want us to prove it? No problem.
What makes oil produced in Saudi Arabia different from oil exported from Nigeria? It's the same thing that makes the corn you ate at last summer¿s barbecue different from the corn used to produce ethanol. Stumped? Well, don't feel bad, it's a trick question. The answer? Absolutely nothing. Corn is corn no matter where it comes from -- just as wheat is wheat and natural gas is -- right! -- natural gas. (Though the quality may differ, the make-up is uniform.)
So, in less elaborate terms, corn and oil (and all other commodities) are homogenous goods that can be processed, resold and more often than not, used as an input to the production of other goods or services. These goods are traded on a commodity exchange, thus setting the price-per-barrel (or other metric unit) used to value them.
Now pay attention, here's a question that indeed does have an answer: What is the difference between a commodity and a stock? While a stock can tank and become worthless, a commodity cannot have its value be wiped to zero. One other difference: Most commodities are traded in futures, meaning traders buy and sell where they think the price of a product will be at a certain point in the future. Stocks trade based on the value of the underlying company at that point in time.
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Friday, July 04, 2008
Shanghai Fashion Designer Qiu Hao Wins Prestigious Woolmark Prize Award in Paris
Comtex
SYDNEY, Australia, July 4, 2008 /PRNewswire via COMTEX/ ----MME Sonia Rykiel, Patron of The Woolmark Prize, today announced Qiu Hao from China will now join design greats Karl Lagerfeld, Yves Saint Laurent, Donna Karan, Ralph Lauren, Romeo Gigli, Dolce & Gabbana and Giorgio Armani in the Woolmark hall of fame, as the 2008 winner of the inaugural Woolmark Prize.
Broadcast quality footage available: http://medianet.ondeadline.com.au/?page=ViewVideo&id=MNT2008070476423#.
The original wool awards were held between 1954-1992 by the International Wool Secretariat (IWS). The Woolmark Prize takes up where IWS left off, upholding the original foundations on which the award was built: excellence, innovation and distinction. The aim of today's prize is to underscore the importance of Merino wool to the fashion world by recognising, rewarding and showcasing emerging talents and cutting-edge creativity that emphasises the sensual, sculptural aspects of knit.
Before attending Central Saint Martins College, London, 30-year-old Shanghai designer Qiu Hao graduated in interior design at Suzhou University. Since his 2006 debut, Qiu Hao has consistently supplied razor sharp tailoring and smooth deconstruction in a largely monochromatic colour palette. Each collection is balanced by a measure of softness -- a curve, a texture, a physical motion that eschews the obvious.
"It is with great pleasure that Australian Wool Innovation (AWI) once again bring the honour and prestige of such an international prize to assist emerging talent so that they may occupy a solid place in the global apparel industry," said Mr Craig Welsh, C.E.O. Australian Wool Innovation. "We see the Woolmark Prize as an opportunity to support the future of design and at the same time, showcase to the world Australian Merino wool at its best and most innovative," said Mr Welsh.
As the winner of the 2008 prize Qiu Hao will receive industry support to the value of euro 100,000 ($163,000) which is invaluable to an emerging designer. AWI will provide aid and expertise in sourcing material, production, presentation and promotion of a collection. High end Paris boutique, Colette, have agreed to carry exclusive stock of a limited edition garment.
U.S. Vogue Fashion News Feature Director Sally Singer, global fashion expert and 2008 awards judge, said, "It's a wonderful time to relaunch The Woolmark Prize; the list of finalists were exceptional and reflects the innovation and rigor that a new generation of designers is investing in their work. Artisanal work in fashion is always going to be synonymous with knitwear and it's the time to buy luxurious things that are made and designed with care."
The Woolmark Prize represents the first of many AWI initiatives focused on enhancing the presence and value of the Woolmark portfolio. Over the next three years AWI will invest over euro 75.000,000 in relaunching and repositioning the Woolmark brand and establishing Australian Merino wool as one of the most exciting fibres available today, unique for its natural, biodegradable and sustainable qualities.
For more information visit: http://www.woolmark.com/prize/ Released by: Karyn Westren-Gross, AWI Fashion Communications Ph: +61-2-8295-3166 Attachments: Wool1.JPG (http://asianetnews.net/Download.asp?ID=101309) Wool2.jpg (http://asianetnews.net/Download.asp?ID=101310) IMG_5279.JPG (http://asianetnews.net/Download.asp?ID=101311)
SOURCE Australian Wool Innovation
http://www.woolmark.com/prize
Copyright (C) 2008 PR Newswire. All rights reserved
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