UBS, Diapason to launch first biofuels index

Swiss bank UBS and Swiss commodity firm Diapason Commodities Management Investors are to launch the first commodity-based index for biological fuels.

The UBS Diapason Global Biofuel Index will cover a range of commodities used in the production of ethanol and biodiesel and will be published in US dollars, euros, Swiss francs and Japanese yen, the companies said.

Production of ethanol and biodiesel - two of the major alternative fuel sources to fossil fuels - is increasing rapidly as government

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