US Treasuries rose on Friday as week US consumer sentiment data highlighted the difficulties facing an economic recovery. Consumer sentiments fell to its lowest in four months as worries over high unemployment and dismal personal finances sapped confidence. The data contributed to a lackluster day on Wall Street, making safe-haven bonds appear attractive, and also revived concerns that debt-laden consumers are in no position to drive a recovery from the worst recession in decades.

“Investors still have to be worried about the sustainability of the recovery”, said Christopher Low, Chief Economist at FTN Financial in New York. “It’s clear that we cannot count on growth through next year as long as consumers are still on the ropes”.

The benchmark 10 - year Treasury note was up 3/32, yielding 3.44 percent versus 3.46 percent at Thursday’s close. It was on track for its third week of gains, a streak it hasn’t matched since late June and early July. Five - year notes were up 4/32, yielding 2.45 percent versus 2.48 percent at Thursday’s close. Two - year notes gained 2/32, yielding 1.02 percent versus 1.05 percent on Thursday.

The gains were kept somewhat in check as the market consolidated in the wake of last week’s $109 billion in government bond auctions, which put new two-five and seven-year notes into the market.

In general, the sales went well, particularly Thursday’s auction of seven-year notes. Overall the sales fell just short of last month’s weekly record of $115 billion and came during the slow days of late August when trading desks are thinly staffed. The results were all the more impressive considering the backdrop of budget worries this year, with the national debt set to nearly double over the next 10 years, according to the latest White House forecasts, and approach $20 trilion. In the fiscal year, which ends September 30, the government is expected to issue $1.5 trillion to $2.05 trillion in new bonds.

That was the main sentiments expressed by the US people with regard on the US economy nowadays. Okay! Got to go now ’cause I still have to check this bathroom faucets that we badly need here in our flat in Abu Dhabi, UAE.

Detroit Ford Motor Co., seeking labor concessions granted to US rivals, is working to bridge a gap with the United Auto Workers amid union resistance to a second round of 2009 givebacks, people familiar with the talks said.

Ford’s labour chief, Joe Hinrichs, was told by UAW officials when bargaining began on August 25 that members would reject further concessions, said two of the people, who asked not to be identified because the sessions are private. Senior negotiatiors held a day-long meeting Friday, a third person said.

“Their differences are significant and difficult, but they’re talking”, said Harley Shaiken, labour professor at the Universtiy of California at Berkeley. “A long discussion means you have something to talk about; stalemates tens to be short”.

Ford, the only US auto-maker to avoid bankruptcy, is trying for parity in labor costs with General Motors Co and Chrysler Group LLC. To help those companies restructure and disability appeal, the UAW agreed to a six-year pay freeze for entry - level employees, a no-strike accord until 2015 and fewer union job classifications.

The UAW has been reluctant to grant more concessions to Ford after a March accord to give up annual bonuses and cost of living increasees and accept reduced layoff benefits. The company said the changes will produce $500 million in annual labour savings.

Dubai Industrial City yesterday said that two new factories have started operating in the City - Capital Industries for the manufacturer of precast concrete and Mefab, which specializes in steel fabrication.

The MeFab factory was constructed on a 213,000 square foot plot in the city’s Base Metal Zone and manufacturers pressure vessels, single and doublr vault tankers and pressure pipes in steel which are used in marine applications and oil and gas industries. The Capital Industries factory was constructe on a 60,000 square foot plot in the city’s Mineral Zone. The facility manufactures pre-cast concrete structures in volumes ranging from 70,000 - 80,000 cubic metres for a wide range of construction applications including precast columns, beams, bell tv, half slab and pre-stressed planks.

Rashad Al Ansari, Vice - President of Dubai Industrial City, said ” The growing pace of companies choosing to set up their factories in Dubai Industrial City is testament to the competitive advantage that the destination provides in terms of advance infrastracture, strategic location, availablity of support offerings and innovative services”.

“The strategic location of Dubai Industrial City provides our partners with an added advantage given its accessibility to all major road networks and highways as well as its proximity to the Al Maktoum International Airport that is due to be operational by next year. The city is alsoa 10 minute drive from Jebel Ali Port and Free Zone and is also close to Abu Dhabi”.