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Print - 2004-01-30
Grain market depicts changes

Grain market depicts changes

Gram sector, sugar, rice, guwar and wheat had undergone changes on the seed and grain wholesale markets on Thursday (January 29, 2004).
Published 30 Jan, 2004 12:00am
Banks and DFIs told to sign fidelity declarations

Banks and DFIs told to sign fidelity declarations

State Bank has observed that most of the banks and development financial institutions were not following the requirement of making declaration of fidelity and secrecy under the Banking Companies Ordinance 1962.
Published 30 Jan, 2004 12:00am
CSCE coffee future slides

CSCE coffee future slides

CSCE coffee futures retreated on Wednesday on producer and speculative selling as origins took advantage of better prices for their beans and short-term traders nailed down profits, said analysts and brokers.
Published 30 Jan, 2004 12:00am
Banks and DFIs told to sign fidelity declarations

Banks and DFIs told to sign fidelity declarations

State Bank has observed that most of the banks and development financial institutions were not following the requirement of making declaration of fidelity and secrecy under the Banking Companies Ordinance 1962.
Published 30 Jan, 2004 12:00am
CSCE cocoa down as Ivorian crop estimate rises

CSCE cocoa down as Ivorian crop estimate rises

CSCE cocoa closed down sharply on Wednesday after hitting a 3-week low as a higher production estimate for top grower Ivory Coast sparked speculative selling, dealers and brokers said.
Published 30 Jan, 2004 12:00am
$1.17 billion debt prepaid to ADB

$1.17 billion debt prepaid to ADB

Pakistan has prepaid $ 1.17 billion debt to the Asian Development Bank (ADB) ahead of schedule and is hopeful of prepaying another $ 1 billion during 2004, Finance Minister Shaukat Aziz told a press briefing.
Published 30 Jan, 2004 12:00am
US cotton sowings surging on lofty prices

US cotton sowings surging on lofty prices

Cotton plantings in the United States will surge this year after a recent rally hoisted prices to their highest since late 1995, industry analysts said Wednesday.
Published 30 Jan, 2004 12:00am
$1.17 billion debt prepaid to ADB

$1.17 billion debt prepaid to ADB

Pakistan has prepaid $ 1.17 billion debt to the Asian Development Bank (ADB) ahead of schedule and is hopeful of prepaying another $ 1 billion during 2004, Finance Minister Shaukat Aziz told a press briefing.
Published 30 Jan, 2004 12:00am
New Zealand wool firm

New Zealand wool firm

Wool prices remained firm in Napier but were mixed at Thursday's auction in Christchurch, Meat and Wool Innovation said in its market report.
Published 30 Jan, 2004 12:00am
FTO to recommend review of Section 9(2)B of Ordinance

FTO to recommend review of Section 9(2)B of Ordinance

Federal Tax Ombudsman retired Justice Saleem Akhtar has said he would recommend review of Section 9 (2) B of the Federal Tax Ombudsman Ordinance as the implications of its interpretation have defeated the purpose of the law. He was talking to the editoria
Published 30 Jan, 2004 12:00am
Australian wool indicator retreats

Australian wool indicator retreats

The Australian Wool Exchange (AWEX) said its eastern market indicator (EMI) slid 20 cents to 791 cents a kg clean at sales in Sydney and Melbourne on Wednesday.
Published 30 Jan, 2004 12:00am
FTO to recommend review of Section 9(2)B of Ordinance

FTO to recommend review of Section 9(2)B of Ordinance

Federal Tax Ombudsman retired Justice Saleem Akhtar has said he would recommend review of Section 9 (2) B of the Federal Tax Ombudsman Ordinance as the implications of its interpretation have defeated the purpose of the law. He was talking to the editoria
Published 30 Jan, 2004 12:00am
Shanghai copper crosses daily limit

Shanghai copper crosses daily limit

Shanghai copper futures rose their three percent daily limit on Thursday as they caught up with the London Metal Exchange after a long Chinese break but are unlikely to climb further in the short run, traders said.
Published 30 Jan, 2004 12:00am
Eurobond launching after road shows

Eurobond launching after road shows

Pakistan is likely to launch and finalise deals of Eurobond on February 12 to 15, after finishing road shows on February 11, said Finance Minister Shaukat Aziz while addressing a press briefing.
Published 30 Jan, 2004 12:00am
Malaysian tin rebounds

Malaysian tin rebounds

Malaysian tin rebounded on Thursday, helped by overnight gains on the London Metal Exchange (LME) and continued demand from Japan.
Published 30 Jan, 2004 12:00am
Eurobond launching after road shows

Eurobond launching after road shows

Pakistan is likely to launch and finalise deals of Eurobond on February 12 to 15, after finishing road shows on February 11, said Finance Minister Shaukat Aziz while addressing a press briefing.
Published 30 Jan, 2004 12:00am
Comex copper ends at 6-1/2-year high

Comex copper ends at 6-1/2-year high

Comex copper prices rallied to levels not seen since July 1997 on Wednesday when the latest in a series of supply concerns hit the market overnight.
Published 30 Jan, 2004 12:00am
Eurobond launching after road shows

Eurobond launching after road shows

Pakistan is likely to launch and finalise deals of Eurobond on February 12 to 15, after finishing road shows on February 11, said Finance Minister Shaukat Aziz while addressing a press briefing.
Published 30 Jan, 2004 12:00am
US cotton shipments seen steady

US cotton shipments seen steady

US cotton sales should decline due to the Lunar New Year festival in leading customer China when the weekly USDA export sales report is released on Thursday, cotton brokers said Wednesday.
Published 30 Jan, 2004 12:00am
One percent surcharge only on unutilised raw material

One percent surcharge only on unutilised raw material

Extending a major tax concession on the export of goods under 'Temporary Importation Scheme' (SRO 410(I)/2001), the government has decided to charge one percent surcharge on the balance of raw material not utilised in production of finished export goods i
Published 30 Jan, 2004 12:00am
Indian cotton: attractive prices seen helping imports

Indian cotton: attractive prices seen helping imports

Indian mills are increasingly looking to import cotton, as a rise in local prices and a drop in world rates have narrowed the price gap that recently allowed traditional importer India to sell cotton abroad.
Published 30 Jan, 2004 12:00am
One percent surcharge only on unutilised raw material

One percent surcharge only on unutilised raw material

Extending a major tax concession on the export of goods under 'Temporary Importation Scheme' (SRO 410(I)/2001), the government has decided to charge one percent surcharge on the balance of raw material not utilised in production of finished export goods i
Published 30 Jan, 2004 12:00am
CSCE sugar futures up on speculative buying

CSCE sugar futures up on speculative buying

CSCE raw sugar futures finished higher on Wednesday on speculative buying, but a further rise could easily be scuppered by solid producer sales in the market, dealers said.
Published 30 Jan, 2004 12:00am
'Saudi Arabia and Pakistan emerging as 'strategic problems' for US'

'Saudi Arabia and Pakistan emerging as 'strategic problems' for US'

Saudi Arabia along with Pakistan is emerging as a broad "strategic problem" for the United States as it tries to defeat terrorists while opening debate on social reform, General John Abizaid, the top US commander in the region, said on Thursday.
Published 30 Jan, 2004 12:00am
'Saudi Arabia and Pakistan emerging as 'strategic problems' for US'

'Saudi Arabia and Pakistan emerging as 'strategic problems' for US'

Saudi Arabia along with Pakistan is emerging as a broad "strategic problem" for the United States as it tries to defeat terrorists while opening debate on social reform, General John Abizaid, the top US commander in the region, said on Thursday.
Published 30 Jan, 2004 12:00am
Kenyan tea production up marginally

Kenyan tea production up marginally

Kenya's tea production ticked higher in calendar year 2003 to 293.7 million kg from 287.1 million in 2002, the tea board said on Thursday.
Published 30 Jan, 2004 12:00am
Tokyo gold up, seeks fresh direction

Tokyo gold up, seeks fresh direction

Tokyo gold futures inched up in light trade on Thursday with traders looking for fresh direction amid a range-bound currency market.
Published 30 Jan, 2004 12:00am
New York gold hits two-week high

New York gold hits two-week high

Comex gold prices shot to two-week highs on Wednesday, bolstered by a shaky US dollar and news overnight that Japan was considering the low weighting of its gold reserves, dealers and analysts said.
Published 30 Jan, 2004 12:00am
Spot gold softer in Asian markets

Spot gold softer in Asian markets

Spot gold shrugged off news that Japan was considering shifting some of its huge reserves into gold, and lost around $1 an ounce in Asia on Thursday as the dollar held steady against other main currencies.
Published 30 Jan, 2004 12:00am
Asian soyameal: bird flu triggers cancellation fears

Asian soyameal: bird flu triggers cancellation fears

Soyameal buyers in Vietnam, Indonesia and Thailand are asking their suppliers to either defer or cancel shipments, fearing a drop in demand for commercial feed following an outbreak of the bird flu disease.
Published 30 Jan, 2004 12:00am
CBOT rice futures weaker

CBOT rice futures weaker

Rough rice futures at the Chicago Board of Trade ended lower on Wednesday, with the March contract dipping below $8 for the first time since mid-November as speculators continued to liquidate longs, traders said.
Published 30 Jan, 2004 12:00am
Soya futures near three-week low

Soya futures near three-week low

Chicago Board of Trade soyabean futures closed lower on Wednesday, falling close to three-week lows as speculators exited long positions before the end of the month, traders said.
Published 30 Jan, 2004 12:00am
Malaysian palm oil ends up on technical rebound

Malaysian palm oil ends up on technical rebound

Malaysian crude palm oil futures reversed losses by the close on Thursday, helped by technical buying and a rebound in Chicago soyaoil in Asian screen trading.
Published 30 Jan, 2004 12:00am
London cocoa rallies from two-year low

London cocoa rallies from two-year low

London cocoa prices ended sharply higher after a volatile session on Thursday as a nervy market tried to gauge the impact of the latest crop estimates for top producer Ivory Coast, which raised estimates for main crop output to a 900,000-1,100,000 range.
Published 30 Jan, 2004 12:00am
World wheat output seen increasing

World wheat output seen increasing

Thriving crops in Europe should help pull world wheat supplies back up from last year's weather-damaged levels in 2004, as global output leaps to 601 million tonnes from 554 million in 2003, according to an international grains report on Thursday.
Published 30 Jan, 2004 12:00am
European gold sheds $11 to below $400/oz on dollar rally

European gold sheds $11 to below $400/oz on dollar rally

Gold bullion dropped below $400 for the first time in almost two months in Europe on Thursday, shedding $11 on the way, as prices followed a soaring dollar on the back of US jobs data and anticipation of higher interest rates.
Published 30 Jan, 2004 12:00am
Coffee falls as specs sell, seen supported

Coffee falls as specs sell, seen supported

London coffee futures weakened on Thursday in a choppy market trying to gauge the size of the downside and pressured by long speculative liquidation, dealers said.
Published 30 Jan, 2004 12:00am
New York cotton futures tumble

New York cotton futures tumble

NYCE cotton futures finished down and near a two-month low Thursday as speculative long liquidation punished the market, but robust trade and suspected Chinese buying pruned the losses, dealers said.
Published 30 Jan, 2004 12:00am
London sugar ends mostly up

London sugar ends mostly up

London sugar futures ended mostly firmer on Thursday buoyed by further fund covering and dealers said the market remained supported in the short term.
Published 30 Jan, 2004 12:00am
LME metals lower at kerb on profit-taking

LME metals lower at kerb on profit-taking

Base metals were softer at Thursday's kerb close on the London Metal Exchange (LME) as profit-taking triggered by news of restarts by a US copper producer weighed on sentiment, analysts and traders said.
Published 30 Jan, 2004 12:00am
Fund selling accelerates oil price fall

Fund selling accelerates oil price fall

Oil prices fell further on Thursday as speculative funds bailed out of long positions on sentiment that the long winter rally had run out of momentum.
Published 30 Jan, 2004 12:00am
US MIDDAY: cocoa posts gains on speculative buying

US MIDDAY: cocoa posts gains on speculative buying

CSCE cocoa futures eked out a small rise Thursday, holding above three-week lows on speculative buying and short-covering by the trade in reaction to a new crop estimate for top grower Ivory Coast, brokers said.
Published 30 Jan, 2004 12:00am
US MIDDAY: sugar unchanged on speculative buying

US MIDDAY: sugar unchanged on speculative buying

CSCE raw sugar futures closed unchanged Thursday as speculative buying ran smack into Thai producer selling and operators said the market needs to race past technical barriers soon.
Published 30 Jan, 2004 12:00am
US MIDDAY: corn futures firmer

US MIDDAY: corn futures firmer

Corn futures at the Chicago Board of Trade were firmer on Thursday on a mild recovery from Wednesday's sell-off, traders said.
Published 30 Jan, 2004 12:00am
US MIDDAY: gold hit by dollar rise on Federal Reserve comment

US MIDDAY: gold hit by dollar rise on Federal Reserve comment

Profit-taking sent COMEX gold down 2 percent Thursday morning as the dollar strengthened after the Federal Reserve took a cautious rhetorical step toward raising US interest rates for the first time since 2000.
Published 30 Jan, 2004 12:00am
German metal workers start walkouts

German metal workers start walkouts

Several thousand German engineering workers staged brief walkouts on Thursday to step up pressure on employers in a row over pay and working hours.
Published 30 Jan, 2004 12:00am
US regulator ups Freddie Mac capital requirement

US regulator ups Freddie Mac capital requirement

Freddie Mac's federal regulator slapped the No 2 US mortgage finance company with a 30 percent higher minimum capital requirement on Thursday until it sorts out its books after an accounting scandal.
Published 30 Jan, 2004 12:00am
Saudi Arabia bans poultry from Asia

Saudi Arabia bans poultry from Asia

Saudi Arabia has imposed a temporary ban on imports of poultry meat and products from seven countries in response to the outbreak of bird flu sweeping across Asia, Saudi newspapers reported on Thursday.
Published 30 Jan, 2004 12:00am
French business morale nears three-year high

French business morale nears three-year high

French business confidence rose slightly in January to hit its highest level since May 2001 as industry leaders grew more optimistic about the general outlook for the eurozone's second biggest economy.
Published 30 Jan, 2004 12:00am
India bans poultry imports

India bans poultry imports

The Indian government said Thursday it has banned all poultry imports from all countries following the outbreak in Asia of a deadly bird flu virus.
Published 30 Jan, 2004 12:00am
US job market flashes mixed signals

US job market flashes mixed signals

The US job market is showing some signs of life with the number of Americans lining up to claim first-time unemployment aid edging lower last week, but businesses may still be nervous about hiring, reports showed on Thursday.
Published 30 Jan, 2004 12:00am
Exxon Mobil net boosted by high prices and tax gain

Exxon Mobil net boosted by high prices and tax gain

Exxon Mobil Corp, the world's largest investor-owned oil company, on Thursday said fourth-quarter profit rose more than 60 percent thanks to soaring oil and natural gas prices and a huge tax gain.
Published 30 Jan, 2004 12:00am
Boeing posts higher fourth-quarter profit

Boeing posts higher fourth-quarter profit

Aerospace giant Boeing Co on Thursday reported higher fourth-quarter profit, beating Wall Street forecasts, boosted by a large tax refund.
Published 30 Jan, 2004 12:00am
Boeing posts higher fourth-quarter profit

Boeing posts higher fourth-quarter profit

Aerospace giant Boeing Co on Thursday reported higher fourth-quarter profit, beating Wall Street forecasts, boosted by a large tax refund.
Published 30 Jan, 2004 12:00am
India grabs major slice of global computer-based mapping business

India grabs major slice of global computer-based mapping business

India, which has the biggest pool of scientists and computer workers outside the United States, has grabbed a major slice of the multibillion-dollar global computer-based mapping business and is poised to win more, analysts said.
Published 30 Jan, 2004 12:00am
Euro rise hits competitiveness of firms: EU

Euro rise hits competitiveness of firms: EU

The rise of the euro on foreign exchange markets weakened the competitiveness of eurozone producers by about two percent in the fourth quarter of 2003, the European Commission said on Thursday.
Published 30 Jan, 2004 12:00am
Halliburton posts wider loss on asbestos charge

Halliburton posts wider loss on asbestos charge

Halliburton Co, which is under fire for its US government contracts to rebuild Iraq, on Thursday posted a wider fourth-quarter loss due to a $1.1 billion charge for settling asbestos injury claims.
Published 30 Jan, 2004 12:00am
Japan output picks up in 2003, recovery on track

Japan output picks up in 2003, recovery on track

Japan's industrial output rose strongly in the final quarter of last year, spurred by demand for electronics goods, with a slight drop in December unlikely to knock the country's economic recovery off track.
Published 30 Jan, 2004 12:00am
MBNA in deal to issue American Express cards

MBNA in deal to issue American Express cards

MBNA Corp on Thursday said it will offer American Express Co credit cards, marking the first time a major issuer of Visa or MasterCard credit cards will market the cards in the United States.
Published 30 Jan, 2004 12:00am
UK consumer confidence rises to 14-month high

UK consumer confidence rises to 14-month high

Consumer confidence in Britain shot up in January to its highest level since November 2002 despite widespread expectations that interest rates will rise next week, a report showed on Thursday.
Published 30 Jan, 2004 12:00am
Trichet brightens on growth and price outlook

Trichet brightens on growth and price outlook

European Central Bank President Jean-Claude Trichet said on Thursday prospects for a stronger economic recovery and slowing inflation are good, which markets saw as a sign the chances of lower interest rates are receding.
Published 30 Jan, 2004 12:00am
Commerzbank in co-operation talks with SchmidtBank

Commerzbank in co-operation talks with SchmidtBank

Germany's Commerzbank AG said on Thursday it was in talks over a co-operation in retail and corporate banking with small regional bank SchmidtBank, which sources said may lead to a take-over.
Published 30 Jan, 2004 12:00am
Australian GDP to be helped by farm and global recovery

Australian GDP to be helped by farm and global recovery

Australia's economy should be in a solid position over the next two financial years as it recovers from severe drought and as a global recovery helps to offset a downturn in housing, a Reuters poll found.
Published 30 Jan, 2004 12:00am
SNB's Roth-Swiss economy outlook improve

SNB's Roth-Swiss economy outlook improve

The conditions for an upturn in Switzerland have improved significantly in the last 12 months, helped by improved sentiment and a weaker franc against the euro, Switzerland's top central banker said on Thursday.
Published 30 Jan, 2004 12:00am
South Korea consumer prices set to rise

South Korea consumer prices set to rise

Higher prices for food and industrial goods are expected to fuel South Korean inflation in January, but not enough for analysts to expect the central bank to rethink its policy of low interest rates.
Published 30 Jan, 2004 12:00am
ABN Amro sponsors K2K project

ABN Amro sponsors K2K project

ABN Amro has sponsored a project called K2K, which will involve a quadriplegic covering a distance of approximately 2000 kilometers, non-stop using an automobile from Khyber to Karachi.
Published 30 Jan, 2004 12:00am
US Treasury prices slip

US Treasury prices slip

US Treasury prices fell sharply on Wednesday as investors interpreted a wording change in the Federal Reserve's policy statement as bringing the central bank one step closer to hiking interest rates.
Published 30 Jan, 2004 12:00am
US Treasury prices slip

US Treasury prices slip

US Treasury prices fell sharply on Wednesday as investors interpreted a wording change in the Federal Reserve's policy statement as bringing the central bank one step closer to hiking interest rates.
Published 30 Jan, 2004 12:00am
Malaysian shares fall

Malaysian shares fall

Malaysian stocks and bonds fell on Thursday, hit by concerns about the bird flu outbreak sweeping Asia and a change in stance by the US Federal Reserve indicating interest rates may rise sooner than expected.
Published 30 Jan, 2004 12:00am
Philippines stocks tumble as peso dives

Philippines stocks tumble as peso dives

Philippines stocks closed at their lowest level in two weeks on Thursday after the peso plunged to record depths beyond 56 to the dollar as political uncertainty mounted ahead of elections on May 10.
Published 30 Jan, 2004 12:00am
US stocks slump after Fed edges toward rate rise

US stocks slump after Fed edges toward rate rise

US stocks tumbled on Wednesday after the Federal Reserve said it will hold interest rates at the lowest level since 1958 but indicated it might be closer to a rate hike.
Published 30 Jan, 2004 12:00am
Taiwan stocks down

Taiwan stocks down

Taiwan stocks edged away from a 21-month high to close lower on Thursday as investors used Wall Street's weakness as an excuse to pocket recent gains in tech and financial shares like Mega Financial Holding.
Published 30 Jan, 2004 12:00am
Chinese shares firmer

Chinese shares firmer

China's shares closed almost two percent higher on Thursday after the Lunar New Year break, but worries over the spread of bird flu drove down chicken breeder Dajiang.
Published 30 Jan, 2004 12:00am
Singapore shares touch two-week lows

Singapore shares touch two-week lows

Singapore's key share index ended near a two-week low on Thursday as the spread of bird flu across Asia and Wall Street's sharp losses gave investors an excuse to reduce their stock holdings.
Published 30 Jan, 2004 12:00am
Sri Lankan stocks dip on political concerns

Sri Lankan stocks dip on political concerns

Sri Lankan stocks fell on Thursday as political concerns over delayed peace talks with Tamil Tiger rebels returned to the fore, and investors took profit after the index gained 10 percent earlier in the week.
Published 30 Jan, 2004 12:00am
Thai stocks plunge to one-month low

Thai stocks plunge to one-month low

Thai stocks fell to a one-month low on Thursday as the rapid spread of bird flu in Asia kept investors wary.
Published 30 Jan, 2004 12:00am
Tokyo stocks decline for fourth straight day

Tokyo stocks decline for fourth straight day

Japanese stocks fell for the fourth straight session on Thursday as investors sold Sony Corp and other exporters on continued worries about the strong yen and after a tumble in Wall Street shares.
Published 30 Jan, 2004 12:00am
Rate concerns drag Hong Kong stocks lower

Rate concerns drag Hong Kong stocks lower

Hong Kong's benchmark share index was dragged slightly lower on Thursday by fears of interest rate hikes in the United States and the spread of bird flu in China.
Published 30 Jan, 2004 12:00am
Indian shares retreat

Indian shares retreat

Indian shares extended their slide into a second session on Thursday amid liquidation by investors covering expiring futures contracts.
Published 30 Jan, 2004 12:00am
Seoul shares fall for third straight day

Seoul shares fall for third straight day

South Korean shares fell for a third straight day on Thursday, led by exporters such as LG Electronics Inc as a steep rise in the won against the dollar threatened profit margins, traders said.
Published 30 Jan, 2004 12:00am
US Stocks: Thursday's unofficial close

US Stocks: Thursday's unofficial close

US blue chips pared earlier gains and were little changed at midday on Thursday as positive earnings from Exxon Mobil Corp. and Boeing Co. were offset by a disappointing outlook from Sears, Roebuck and Co.
Published 30 Jan, 2004 12:00am
Corporate bonds plummet on Italia worst hit

Corporate bonds plummet on Italia worst hit

European corporate bonds fell in value on Thursday as investors focused on telecommunications, with Telecom Italia worst hit as Italian investors dumped credit.
Published 30 Jan, 2004 12:00am
Corporate bonds plummet on Italia worst hit

Corporate bonds plummet on Italia worst hit

European corporate bonds fell in value on Thursday as investors focused on telecommunications, with Telecom Italia worst hit as Italian investors dumped credit.
Published 30 Jan, 2004 12:00am
FTSE-100 index closes at six-week low

FTSE-100 index closes at six-week low

Britain's top shares closed at a six-week low on Thursday hit by disappointing numbers from index giant AstraZeneca and by large fund-related sell programmes, dealers said.
Published 30 Jan, 2004 12:00am
Bangladeshi taka ends flat ahead of Eid-ul-Azha

Bangladeshi taka ends flat ahead of Eid-ul-Azha

The Bangladeshi taka ended little changed against the dollar on Thursday as dealers sold the US currency to borrow local funds ahead of the Eid-ul-Azha festival next week, dealers said.
Published 30 Jan, 2004 12:00am
Swiss franc ticks lower

Swiss franc ticks lower

The Swiss franc eased against the greenback on Thursday after the Federal Reserve held interest rates steady on Wednesday but hinted it may be closer to considering a rate increase. The dollar edged higher to 1.2574/79 francs from levels around 1.2465 fra
Published 30 Jan, 2004 12:00am
Dollar seesaws against euro

Dollar seesaws against euro

The dollar seesawed against the euro on Thursday, drawing some support from the US Federal Reserve's policy statement which suggested the central bank might be a step closer to raising interest rates.
Published 30 Jan, 2004 12:00am
Dollar storms higher on Federal Reserve statement

Dollar storms higher on Federal Reserve statement

The dollar shot higher on Wednesday, gaining 1 percent against the euro and the Swiss franc after the Federal Reserve shocked traders by dropping the phrase referring to a "considerable period" of loose monetary policy from its statement.
Published 30 Jan, 2004 12:00am
Hong Kong dollar ends lower

Hong Kong dollar ends lower

The Hong Kong dollar edged lower on Thursday as the US dollar strengthened against major currencies on expectations for an earlier than expected rise in US interest rates.
Published 30 Jan, 2004 12:00am
Indian rupee at new 11-week closing high

Indian rupee at new 11-week closing high

The Indian rupee set an 11-week closing high against the dollar for the second straight day on Thursday, buoyed by strong foreign capital flows, and traders said more gains were in store for the local currency.
Published 30 Jan, 2004 12:00am