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Print - 2004-02-11
Tokyo gold up on US market and spot bullion prices

Tokyo gold up on US market and spot bullion prices

Tokyo gold futures rose on Tuesday in line with rises in New York's Comex market and spot bullion prices, which looked set to top a key resistance level of $416 an ounce this week.
Published 11 Feb, 2004 12:00am
Comex gold climbs in quiet session

Comex gold climbs in quiet session

Comex gold futures closed with a more secure footing above $400 an ounce on Monday, boosted by views in the market that a struggling US dollar should continue to support the precious metal, traders said.
Published 11 Feb, 2004 12:00am
Gold pushes higher in Asia, eyes $416 an ounce

Gold pushes higher in Asia, eyes $416 an ounce

Gold climbed in Asia on Tuesday afternoon as it looked set to puncture a key resistance of $416 an ounce this week, after a Group of Seven (G7) meeting failed to come up with any agreement to stem the dollar's fall.
Published 11 Feb, 2004 12:00am
Shanghai copper limit-down on yuan talk

Shanghai copper limit-down on yuan talk

Shanghai copper futures closed down at or near their three percent daily limits on Monday, hit by a spree of profit-taking sparked by talk that China might allow its yuan to appreciate, traders said.
Published 11 Feb, 2004 12:00am
USDA rejects request to ban some soya imports

USDA rejects request to ban some soya imports

The US Agriculture Department will not temporarily ban soybean imports from countries affected by a devastating plant disease despite requests from two US farm groups, a USDA spokesman said on Monday.
Published 11 Feb, 2004 12:00am
CBOT rice market firm

CBOT rice market firm

Rough rice futures at the Chicago Board of Trade ended firm on Monday, following the day's trend in soyabean futures, which recovered after a lower open, traders said.
Published 11 Feb, 2004 12:00am
Chinese corn export hopes grow as bird flu bites

Chinese corn export hopes grow as bird flu bites

China looks set to resume long-awaited corn exports as soon as March, helped by high international prices, while the spread of the deadly bird flu is eating into domestic demand for animal feed.
Published 11 Feb, 2004 12:00am
Top US farm group backs temporary soya import ban

Top US farm group backs temporary soya import ban

The American Farm Bureau Federation, the largest US farm group, on Monday backed a controversial call to temporarily ban soybean imports into the United States from countries with a crippling plant disease.
Published 11 Feb, 2004 12:00am
Soyabeans higher and oil sets 15-1/2-year top

Soyabeans higher and oil sets 15-1/2-year top

Chicago Board of Trade soyabean futures ended higher on Monday on commercial buying, erasing break on fears that the avian flu would spread, and as soyaoil set a 15-1/2 year high on worries about tight global soyaoil supplies, traders said.
Published 11 Feb, 2004 12:00am
Tokyo rubber barely moves

Tokyo rubber barely moves

Tokyo rubber futures moved little on Tuesday amid light trading volume in the absence of market-moving factors, traders said.
Published 11 Feb, 2004 12:00am
US oil stays close to $33 as Opec prepares to meet

US oil stays close to $33 as Opec prepares to meet

Oil prices tiptoed higher on Tuesday ahead of Opec's ministerial gathering in Algiers, which is widely expected to leave production limits unchanged for the time being but urge members to adhere closely to output quotas.
Published 11 Feb, 2004 12:00am
London cocoa futures mostly up

London cocoa futures mostly up

London cocoa futures ended mostly up on Tuesday in muted business and dealers said the market was expected to remain soft.
Published 11 Feb, 2004 12:00am
London sugar firmer

London sugar firmer

London sugar futures ended firmer on Tuesday buoyed by gains in New York, dealers said.
Published 11 Feb, 2004 12:00am
Rising US corn prices may spur sowings

Rising US corn prices may spur sowings

US farmers will pocket the highest farm-gate price for corn in six years, an average $2.45 a bushel, thanks to high-volume exports and strong demand at home for livestock feed and ethanol, the government said on Tuesday.
Published 11 Feb, 2004 12:00am
Oil prices jump more than $1 as Opec sets cut

Oil prices jump more than $1 as Opec sets cut

Oil prices rose more than a dollar a barrel on Tuesday after producer group Opec made a surprise decision to slice a million barrels per day of its supply from world markets starting in April.
Published 11 Feb, 2004 12:00am
London coffee futures climb

London coffee futures climb

London robusta coffee futures climbed on Tuesday, supported by modest industry buying and speculative interest in a market that also registered fresh - but limited - spread business on the front-month contracts, dealers said.
Published 11 Feb, 2004 12:00am
New York cotton futures at 11-week low

New York cotton futures at 11-week low

NYCE cotton futures closed at an 11-week low Tuesday on speculative fund sales which touched off automatic sell-orders in a technical breakdown which could cause further losses this week, analysts said.
Published 11 Feb, 2004 12:00am
Poor nations urge review of UN diet report

Poor nations urge review of UN diet report

A controversial United Nations diet and health report that sets a goal for sugar consumption lacks a thorough scientific basis and needs more work, a majority of member states said on Tuesday.
Published 11 Feb, 2004 12:00am
Gold rises in Europe as dollar pushed down

Gold rises in Europe as dollar pushed down

Gold retained its firmer trend in Europe on Tuesday afternoon despite the dollar making up some ground against the euro, but prices remained stubbornly below the $410 level despite earlier expectations for the metal to crack that level.
Published 11 Feb, 2004 12:00am
Metal prices ease at LME under Asian selling

Metal prices ease at LME under Asian selling

Prices mostly eased in Tuesday's London Metal Exchange (LME) pre-market trading, with light selling in Asia washing through to Europe, traders said.
Published 11 Feb, 2004 12:00am
US MIDDAY: CSCE coffee down

US MIDDAY: CSCE coffee down

CSCE arabica futures were called to open 0.20 to 0.50 cent higher Tuesday based on steady prices for beans in the overseas markets, brokers said.
Published 11 Feb, 2004 12:00am
US MIDDAY: CSCE sugar mostly up

US MIDDAY: CSCE sugar mostly up

CSCE raw sugar futures ended mostly higher Tuesday on trade buying and switch activity although market players feel poor fundamentals will eventually drag the sweetener lower in the days ahead, brokers said.
Published 11 Feb, 2004 12:00am
US MIDDAY: CBOT wheat gains

US MIDDAY: CBOT wheat gains

Wheat futures at the Chicago Board of Trade were higher early on Tuesday, supported by a reduction in USDA's forecasts for US and global ending stocks for 2003/04, traders said.
Published 11 Feb, 2004 12:00am
US MIDDAY: CBOT soybeans mixed

US MIDDAY: CBOT soybeans mixed

Chicago Board of Trade soybeans were mixed at midday Tuesday, with nearby sagging after a near 7-year top in soybeans and a 15-1/2 year high in soyoil on speculative and light commercial buying, traders said.
Published 11 Feb, 2004 12:00am
US MIDDAY: corn on roller coaster ride

US MIDDAY: corn on roller coaster ride

The Chicago Board of Trade corn market was on a roller coaster ride on Tuesday, falling on farmer hedge pressure after rallying to six-year highs on a larger-than-expected cut in US corn ending stocks, traders said.
Published 11 Feb, 2004 12:00am
US MIDDAY: COMEX copper slips

US MIDDAY: COMEX copper slips

COMEX copper prices fell after the opening on Tuesday as some players decided to cash in profits following Monday's rally 6-1/2-year highs, traders said.
Published 11 Feb, 2004 12:00am
US MIDDAY: COMEX gold futures advance

US MIDDAY: COMEX gold futures advance

COMEX gold futures advanced on Tuesday morning, taking a cue from a sagging US dollar, which made the precious metal cheaper to buy for holders of overseas currencies, dealers said.
Published 11 Feb, 2004 12:00am
Malaysian foreign investment up 35 percent

Malaysian foreign investment up 35 percent

Malaysia approved foreign investments of 15.6 billion ringgit ($4.1 billion) in 2003, up 35 percent on the year before despite a sluggish global economy and effects from Sars, according to official data out on Tuesday.
Published 11 Feb, 2004 12:00am
Brown criticises EU budget proposals

Brown criticises EU budget proposals

Britain's Chancellor of the Exchequer Gordon Brown on Tuesday attacked as wasteful European Commission plans to increase the EU budget.
Published 11 Feb, 2004 12:00am
Philips returns to profit on forecasts for 2004

Philips returns to profit on forecasts for 2004

Philips Electronics said on Tuesday it returned to the black in 2003, with net profit well up on forecasts, boosting its shares as it expressed cautious optimism for 2004.
Published 11 Feb, 2004 12:00am
Philips returns to profit on forecasts for 2004

Philips returns to profit on forecasts for 2004

Philips Electronics said on Tuesday it returned to the black in 2003, with net profit well up on forecasts, boosting its shares as it expressed cautious optimism for 2004.
Published 11 Feb, 2004 12:00am
UK trade gap narrows on strong US demand

UK trade gap narrows on strong US demand

Britain narrowly avoided a new record international goods trade deficit in 2003 as flagging demand from the EU was outstripped by robust demand from the giant United States economy, official data showed on Tuesday.
Published 11 Feb, 2004 12:00am
Opec will not hurt US economy

Opec will not hurt US economy

The White House on Tuesday responded to news of a surprise Opec decision to cut oil output limits by saying it hoped the cartel did not take actions that hurt the US economy.
Published 11 Feb, 2004 12:00am
Opec cuts output

Opec cuts output

Opec on Tuesday agreed a surprise cut in supplies from April 1, propelling world oil prices higher and drawing a caution from the United States not to hurt economic growth.
Published 11 Feb, 2004 12:00am
Opec cuts output

Opec cuts output

Opec on Tuesday agreed a surprise cut in supplies from April 1, propelling world oil prices higher and drawing a caution from the United States not to hurt economic growth.
Published 11 Feb, 2004 12:00am
BP disappoints with fourth-quarter profit results

BP disappoints with fourth-quarter profit results

British oil giant BP fell short of market forecasts with flat fourth-quarter profits on Tuesday but resumed share buybacks to support its stock and sold a Chinese stake-holding to help fund the repurchase.
Published 11 Feb, 2004 12:00am
BP disappoints with fourth-quarter profit results

BP disappoints with fourth-quarter profit results

British oil giant BP fell short of market forecasts with flat fourth-quarter profits on Tuesday but resumed share buybacks to support its stock and sold a Chinese stake-holding to help fund the repurchase.
Published 11 Feb, 2004 12:00am
Iraqi bank signs credit deal with Arab unit

Iraqi bank signs credit deal with Arab unit

The Trade Bank of Iraq (TBI) signed a credit facilities deal Tuesday with the Kuwait-based Inter-Arab Investment Guarantee Corp (IAIGC) to promote Arab exports to Iraq, a statement said.
Published 11 Feb, 2004 12:00am
IEA chief criticises Opec's management

IEA chief criticises Opec's management

The Opec oil producer cartel is over-managing global oil markets and leaving too little leeway to deal with sudden crises, the head of the International Energy Agency (IEA) said on Tuesday.
Published 11 Feb, 2004 12:00am
UBS posts second highest profit ever in 2003

UBS posts second highest profit ever in 2003

Switzerland's top banking group UBS on Tuesday announced its second highest annual profit ever in 2003 on the back of a recovery of confidence in financial markets.
Published 11 Feb, 2004 12:00am
UBS posts second highest profit ever in 2003

UBS posts second highest profit ever in 2003

Switzerland's top banking group UBS on Tuesday announced its second highest annual profit ever in 2003 on the back of a recovery of confidence in financial markets.
Published 11 Feb, 2004 12:00am
South Korea consumer sentiment data hits 16-month high

South Korea consumer sentiment data hits 16-month high

South Korea's consumer sentiment index hit its highest level in 16 months in January, a government survey showed on Tuesday, marking the latest sign a long-awaited recovery in domestic consumption may be emerging.
Published 11 Feb, 2004 12:00am
EU ministers play down euro rise, focus on deficits

EU ministers play down euro rise, focus on deficits

European Union finance ministers played down the impact of a fresh rise in the euro on Tuesday, focusing instead on reining in budget deficits and structural reforms aimed at making their economies more dynamic.
Published 11 Feb, 2004 12:00am
Cairn to drill 4 appraisal wells in India

Cairn to drill 4 appraisal wells in India

British exploration firm Cairn Energy plans to drill three or four appraisal wells in the next few months in Rajasthan, where it recently discovered oil, the firm's Chief Executive Bill Gammell said.
Published 11 Feb, 2004 12:00am
China reiterates it has no plan to re-value yuan

China reiterates it has no plan to re-value yuan

Chinese Premier Wen Jiabao, pledged on Tuesday to keep the yuan exchange rate stable and perfect the exchange rate system but reiterated that the country had no plans to re-value its currency.
Published 11 Feb, 2004 12:00am
Siemens confirms ICN telecoms unit deal with SBC

Siemens confirms ICN telecoms unit deal with SBC

Siemens said on Tuesday its ICN fixed-line telecoms arm had won a deal to supply Internet Protocol (IP) services to US local phone company SBC Communications, confirming an earlier Reuters report.
Published 11 Feb, 2004 12:00am
Spanish and Dutch lag Europe in corporate governance study

Spanish and Dutch lag Europe in corporate governance study

Britain has Europe's best corporate governance with Germany, Spain and the Netherlands among the worst, although the continental standards as a whole are improving, according to Brussels research firm Deminor.
Published 11 Feb, 2004 12:00am
Euro strength will not hurt German competitiveness in long term

Euro strength will not hurt German competitiveness in long term

While the recent rise of the euro may hit the competitiveness of German-made goods in the short term, the development will not harm exporters in the long term, the Bundesbank's chief economist Hermann Remsperger said Tuesday.
Published 11 Feb, 2004 12:00am
Manhattan prosecutor issues Parmalat warrant

Manhattan prosecutor issues Parmalat warrant

Manhattan's chief prosecutor has executed a search warrant as part of an investigation into food group Parmalat's operations in the United States, a person familiar with the matter said on Tuesday.
Published 11 Feb, 2004 12:00am
Renault profits beat forecasts and upbeat on 2004

Renault profits beat forecasts and upbeat on 2004

French carmaker Renault posted a forecast-beating rise in 2003 profits on Tuesday thanks to its stake in Japan's Nissan and the success of its revamped Megane range, and predicted more growth ahead.
Published 11 Feb, 2004 12:00am
Croatia to improve telecoms and tourism

Croatia to improve telecoms and tourism

Croatia plans to grant a licence for the third GSM mobile phone operator later this year, after setting up a new telecommunications regulatory agency, its Transport minister said on Tuesday.
Published 11 Feb, 2004 12:00am
Meezan Bank arranges Rs 910 million financing for SKB

Meezan Bank arranges Rs 910 million financing for SKB

Saadullah Khan & Brothers (SKB) and Meezan Bank Limited (MBL) led syndicate signed a landmark Rs 910 million Syndicated Murabaha Finance Facility on January 30 at MBL's Finance & Trade Centre Branch, Karachi.
Published 11 Feb, 2004 12:00am
Hewlett-Packards promotion award ceremony held

Hewlett-Packards promotion award ceremony held

The prize giving ceremony of Hewlett-Packards (HP) mega promotion of the year "Travel the World with HP Grand Lucky Draw 2003" was held recently in Lahore.
Published 11 Feb, 2004 12:00am
Taiwan stocks at 40-month high on industrials

Taiwan stocks at 40-month high on industrials

Taiwan stocks edged higher to set a 40-month closing high for a second straight session on Tuesday as investors steered away from high-priced tech and banking stocks and pursued industrial shares.
Published 11 Feb, 2004 12:00am
Hong Kong stocks lower but Bank of East Asia rises

Hong Kong stocks lower but Bank of East Asia rises

Hong Kong's top shares drifted lower on Tuesday after sharp gains in the past two sessions, but banks rose as Bank of East Asia's results impressed investors and set a promising precedent for the earnings season.
Published 11 Feb, 2004 12:00am
Malaysian share index down

Malaysian share index down

Malaysia's key share index ended lower on Tuesday as bigger issues retraced recent gains while chipmakers like Unisem bucked the trend on signs of rising global electronics demand.
Published 11 Feb, 2004 12:00am
Chinese shares down but Shenzhen firms still hot

Chinese shares down but Shenzhen firms still hot

China's shares closed down on Tuesday, depressed by profit-taking amid large caps, but companies based in the country's southern boomtown of Shenzhen gained on hopes of government restructuring.
Published 11 Feb, 2004 12:00am
Jakarta stocks slightly lower

Jakarta stocks slightly lower

Jakarta stocks snapped a three-day winning streak on Tuesday to close marginally lower, as investors realised recent gains from some shares, especially cigarette companies.
Published 11 Feb, 2004 12:00am
Sri Lankan shares at six-month low on poll jitters

Sri Lankan shares at six-month low on poll jitters

Sri Lanka stocks ended down nearly four percent at six-month lows on Tuesday, with investors still reeling from a weekend snap election call that raised fears for the future of peace efforts with Tamil Tiger rebels.
Published 11 Feb, 2004 12:00am
Nikkei closes at seven-week low, Nikon sold

Nikkei closes at seven-week low, Nikon sold

The Nikkei average closed at a seven-week low on Tuesday as poor profits at precision equipment maker Nikon Corp on soft digital camera sales spurred selling that included Olympus Corp.
Published 11 Feb, 2004 12:00am
US Stocks: Tuesday's unofficial close

US Stocks: Tuesday's unofficial close

US stocks gained at midday on Tuesday as investors awaited Federal Reserve Chairman Alan Greenspan's testimony on Wednesday and welcomed media conglomerate Viacom's plan to spin off its stake in Blockbuster Inc.
Published 11 Feb, 2004 12:00am
Corporate bonds edge marginally lower

Corporate bonds edge marginally lower

European corporate bonds edged marginally lower in value on Tuesday as some investors looked to take profits after the gains of the last few days, but traders said activity was extremely quiet.
Published 11 Feb, 2004 12:00am
Corporate bonds edge marginally lower

Corporate bonds edge marginally lower

European corporate bonds edged marginally lower in value on Tuesday as some investors looked to take profits after the gains of the last few days, but traders said activity was extremely quiet.
Published 11 Feb, 2004 12:00am
FTSE-100 index closes lower, takes hit from BP, dollar

FTSE-100 index closes lower, takes hit from BP, dollar

Leading UK shares closed lower on Tuesday, hurt by earnings from oil major BP which came in below already lowered expectations, with dollar-earning companies broadly hurt by another fall in the US currency.
Published 11 Feb, 2004 12:00am
Hong Kong dollar little changed

Hong Kong dollar little changed

The Hong Kong dollar was little changed on Tuesday after choppy trade the previous day on renewed speculation of a revaluation of China's yuan.
Published 11 Feb, 2004 12:00am
Chinese yuan notches firmer

Chinese yuan notches firmer

The yuan ended one notch firmer versus the US dollar at 8.2772, remaining near the stronger end of its managed trading range.
Published 11 Feb, 2004 12:00am
Bangladeshi taka ends firm

Bangladeshi taka ends firm

The Bangladeshi taka edged up on Tuesday, with dollar supplies boosted by remittances from expatriates, dealers said.
Published 11 Feb, 2004 12:00am
Dollar drifts higher in range-bound post-G7 trade

Dollar drifts higher in range-bound post-G7 trade

The dollar gained marginally on Monday in range-bound trading as investors concluded that a Group of Seven statement warning against "excess volatility" in currency markets suggested no official action to stem the greenback's downtrend.
Published 11 Feb, 2004 12:00am
Asian currencies hit new highs

Asian currencies hit new highs

The Singapore dollar rose past the 1.6800 per US dollar barrier on Tuesday to hit a new four-year high, while the Taiwan dollar and South Korean won made strong headway despite talk of central bank intervention.
Published 11 Feb, 2004 12:00am
Sterling remains at 11-year high

Sterling remains at 11-year high

Sterling hit an 11-year high versus the dollar for the second day running on Tuesday and touched a three-month peak on the euro, powered by demand for its relatively lucrative yield.
Published 11 Feb, 2004 12:00am
Dollar doldrums deepen on lack of G7 support

Dollar doldrums deepen on lack of G7 support

The dollar slipped to one-month lows against the euro and multi-year lows versus the pound and Australian dollar on Tuesday as markets continued to shrug off a Group of Seven warning against excess currency volatility.
Published 11 Feb, 2004 12:00am
India and China to barter films

India and China to barter films

India and China will barter films and explore the distribution and co-production of animation films for children for their respective state-run television channels, an official said Tuesday.
Published 11 Feb, 2004 12:00am
Blair plans landmark visit to Libya

Blair plans landmark visit to Libya

British Prime Minister Tony Blair will visit Libya "as soon as convenient", Foreign Secretary Jack Straw said Tuesday following landmark talks with Libyan Foreign Minister Abdel Rahman Shalgham.
Published 11 Feb, 2004 12:00am
Serbia may face new elections

Serbia may face new elections

Serbia may have to hold new elections if political parties fail to form a coalition government following December's inconclusive parliamentary ballot, speaker Dragan Marsicanin said on Tuesday.
Published 11 Feb, 2004 12:00am
Russia to stage nuclear arms safety show

Russia to stage nuclear arms safety show

A top Russian general said on Tuesday that Moscow planned to hold an exercise in April aimed at reassuring its Nato partners that its nuclear arsenals were in safe hands.
Published 11 Feb, 2004 12:00am
Afghan guerrillas strength waning: Nato general

Afghan guerrillas strength waning: Nato general

The number of hard-core Taleban and al Qaeda guerrillas in Afghanistan has dropped below 1,000 and their strength appears to be waning, Nato's top commander said late on Monday.
Published 11 Feb, 2004 12:00am
Philippine election campaign kicks off

Philippine election campaign kicks off

Philippine politicians hit the campaign trail with a vengeance on Tuesday, keeping the issues to a minimum and going full blast with theatrics and rhetoric.
Published 11 Feb, 2004 12:00am
Putin playing with planet: Greenpeace

Putin playing with planet: Greenpeace

Environmental pressure group Greenpeace is increasingly doubtful that Russia, the world's second largest oil exporter, will ratify the Kyoto Protocol aimed at slowing climate change, its chief said.
Published 11 Feb, 2004 12:00am
Chinese cockle picker tragedy stir UK

Chinese cockle picker tragedy stir UK

Britain and China are exchanging police officials to tackle the problem of human trafficking highlighted by the deaths of 19 mainly Chinese migrants in England, a British diplomat said on Tuesday.
Published 11 Feb, 2004 12:00am
Hard-line Hindus vow protests on Valentine's Day

Hard-line Hindus vow protests on Valentine's Day

Hard-line Hindu groups threatened on Tuesday to blacken the faces of couples celebrating Valentine's Day, saying the Christian saint's day was a violation of Indian culture.
Published 11 Feb, 2004 12:00am
Haitian police take back rebel town

Haitian police take back rebel town

Haitian police took back a city from armed gangs on Monday, delivering the government its first victory in a 5-day-old armed revolt that has presented President Jean-Bertrand Aristide with his most dangerous challenge in months of protests.
Published 11 Feb, 2004 12:00am
Taiwan party campaigns in mainland China

Taiwan party campaigns in mainland China

Supporters of Taiwan's opposition Nationalist presidential candidate have opened a liaison office in Shanghai, giving party faithful the chance to campaign in mainland China for the first time since 1949.
Published 11 Feb, 2004 12:00am
EU's big three propose crisis battle groups

EU's big three propose crisis battle groups

France, Britain and Germany presented joint proposals on Tuesday for the European Union to create military battle groups for short-notice deployments to crisis spots around the world.
Published 11 Feb, 2004 12:00am