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Print - 2004-02-21
Comex gold drops as investors revisit dollar

Comex gold drops as investors revisit dollar

Comex gold and silver fell on Thursday as investors reduced precious metals positions and switched to the dollar after the euro retreated from Wednesday's record high.
Published 21 Feb, 2004 12:00am
UN warns of Haiti danger, calls for world action

UN warns of Haiti danger, calls for world action

The UN General Assembly convened a special meeting on Friday on the crisis in Haiti, where two weeks of deadly clashes have marked a growing rebellion against President Jean Bertrand Aristide.
Published 21 Feb, 2004 12:00am
Gold stuck in $1 an ounce range in Asia

Gold stuck in $1 an ounce range in Asia

Gold was stuck in a $1 an ounce range in Asia on Friday, struggling to stay above $410 as dealers became frustrated by the metal's failure to touch a new high and reconsidered their precious metals positions.
Published 21 Feb, 2004 12:00am
Nasa postpones shuttle launches to March 2005

Nasa postpones shuttle launches to March 2005

Nasa on Friday postponed to March 2005 at the earliest the resumption of space shuttle launches stopped since the Columbia accident in February of 2003 which claimed the lives of seven astronauts.
Published 21 Feb, 2004 12:00am
Malaysian tin steady on base metals recovery

Malaysian tin steady on base metals recovery

Malaysian tin price closed unchanged on Friday after base metals in London recovered overnight from a sell-down a day in market leader copper.
Published 21 Feb, 2004 12:00am
White House admits failure of Iraq caucus plan

White House admits failure of Iraq caucus plan

The Bush administration acknowledged on Friday that its ambitious plan to transfer sovereignty directly to a democratically elected government in Iraq was unlikely to succeed, after Iraqis insisted on elections untainted by US influence.
Published 21 Feb, 2004 12:00am
Tokyo rubber makes gains

Tokyo rubber makes gains

Tokyo rubber futures rose on Friday as the market continued to look at the possibility of topping a key resistance level.
Published 21 Feb, 2004 12:00am
China delays GMO soya import applications

China delays GMO soya import applications

China, the world's top soya buyer, has delayed accepting applications for genetically modified organisms (GMO) soyabean shipments arriving after April 20, a Ministry of Agriculture official said on Friday.
Published 21 Feb, 2004 12:00am
Greenspan sees stronger hiring ahead

Greenspan sees stronger hiring ahead

Federal Reserve Chairman Alan Greenspan on Friday offered hope to Americans troubled by job losses that he saw stronger hiring ahead, but coupled it with a warning that the nation's job skills must be improved.
Published 21 Feb, 2004 12:00am
Russia increases barley exports via Ukraine

Russia increases barley exports via Ukraine

Russian grain traders increased feed barley exports through Ukrainian Sea ports to 37,770 tonnes in the first 10 days of February, analysts said on Friday.
Published 21 Feb, 2004 12:00am
Cuba fabricating invasion threat: US

Cuba fabricating invasion threat: US

The top US diplomat in Havana said on Friday Cuba's government was fabricating a threat of invasion by the United States to instill fear in Cubans and retain political control.
Published 21 Feb, 2004 12:00am
CSCE sugar falls on profit-taking

CSCE sugar falls on profit-taking

CSCE raw sugar finished lower on Thursday with some fund players taking profits, some light trade selling, and others playing the spread on the March and May contracts, traders said.
Published 21 Feb, 2004 12:00am
Iranian vote unfair: US

Iranian vote unfair: US

Risking a nationalist backlash, the United States criticised Iran's parliamentary elections on Friday as unfair because hard-liners had banned reformist candidates.
Published 21 Feb, 2004 12:00am
ABB Grain sees buoyant barley sales to Asia

ABB Grain sees buoyant barley sales to Asia

Australia is finding buoyant demand for malting and feed barley in Asia and the Middle East and sold a cargo to Japan on Thursday, the country's main barley exporter said on Friday.
Published 21 Feb, 2004 12:00am
Iranian vote unfair: US

Iranian vote unfair: US

Risking a nationalist backlash, the United States criticised Iran's parliamentary elections on Friday as unfair because hard-liners had banned reformist candidates.
Published 21 Feb, 2004 12:00am
Soya near seven-year top on Brazil crop fears

Soya near seven-year top on Brazil crop fears

Chicago Board of Trade soyabeans ended higher on Thursday, after surging to the highest level since June 1997, on a lower crop estimate for No 2 global soya producer Brazil and speculative buying, traders said.
Published 21 Feb, 2004 12:00am
Conservatives set to sweep controversial Iran polls

Conservatives set to sweep controversial Iran polls

Ballot counting began late on Friday in Iran's disputed parliamentary election, with hard-liners set to overturn a reformist majority but hoping for a solid voter turnout to make their victory credible.
Published 21 Feb, 2004 12:00am
Conservatives set to sweep controversial Iran polls

Conservatives set to sweep controversial Iran polls

Ballot counting began late on Friday in Iran's disputed parliamentary election, with hard-liners set to overturn a reformist majority but hoping for a solid voter turnout to make their victory credible.
Published 21 Feb, 2004 12:00am
Oil slips after hitting $36, supplies still a worry

Oil slips after hitting $36, supplies still a worry

Oil prices edged back on Friday from four-week highs above $36 a barrel, but were supported as a build in US crude stocks did little to ease concerns about supplies, traders said.
Published 21 Feb, 2004 12:00am
Malaysian palm oil ends up

Malaysian palm oil ends up

Malaysian crude palm oil (CPO) futures broke the 1,950-ringgit-a-tonne psychological barrier on Friday and dealers said the market was poised for new five-year highs of 2,000 ringgit.
Published 21 Feb, 2004 12:00am
Liffe coffee closes higher

Liffe coffee closes higher

London coffee closed higher on Friday as roasters and speculators bought while origin remained absent, dealers said.
Published 21 Feb, 2004 12:00am
EU sets advance 2003-04 sugar production levies

EU sets advance 2003-04 sugar production levies

The European Union's sugar management committee has fixed the advance payment for this season's sugar production levy, which indirectly pays for export subsidies, member state officials said on Friday.
Published 21 Feb, 2004 12:00am
London sugar futures end up

London sugar futures end up

London sugar futures ended higher on Friday after an afternoon trading session that was severely marred by technical hitches at the Liffe exchange, dealers said.
Published 21 Feb, 2004 12:00am
New York cotton settles mixed

New York cotton settles mixed

NYCE cotton futures ended mixed Friday after a largely expected USDA export sales report failed to spark a rally in fiber prices and traders turned to liquidate March cotton ahead of its first notice day, dealers said.
Published 21 Feb, 2004 12:00am
London cocoa prices mixed

London cocoa prices mixed

London cocoa prices closed mixed on Friday after being in negative territory for most of the session and still under pressure as funds and speculators went shorter, dealers said.
Published 21 Feb, 2004 12:00am
Gold hits two-week low on dollar rally

Gold hits two-week low on dollar rally

Gold fell to its lowest in two weeks in Europe on Friday afternoon as the dollar surged against major currencies, luring investors away from bullion, while further noise about potential central bank gold sales added to bearish sentiment.
Published 21 Feb, 2004 12:00am
LME metals end firmer, copper pushes upwards

LME metals end firmer, copper pushes upwards

Base metals rose on the London Metal Exchange (LME) on Thursday, with copper recovering from falls on Wednesday for its highest close in the current bull run, traders said.
Published 21 Feb, 2004 12:00am
US MIDDAY: COMEX gold down on backtracking euro

US MIDDAY: COMEX gold down on backtracking euro

COMEX gold felt pressure from a backtracking euro early Friday, getting fleeting support after a surprising jump in the US January Consumer Price Index suggested inflation may have bottomed.
Published 21 Feb, 2004 12:00am
US MIDDAY: CSCE raw sugar firmer

US MIDDAY: CSCE raw sugar firmer

CSCE raw sugar futures were 0.05 cent firmer Friday, based on gains in London sugar prices, floor sources said.
Published 21 Feb, 2004 12:00am
French fourth quarter growth rises

French fourth quarter growth rises

French growth picked up in the final quarter of 2003, with a rise in imports and investment breathing life into the economy at the end of a weak year which saw growth at its lowest rate for a decade.
Published 21 Feb, 2004 12:00am
EU hits deadlock for second time on lifting GM maize ban

EU hits deadlock for second time on lifting GM maize ban

The European Union revealed its deep divisions over biotech policy on Wednesday as environment experts representing the bloc's 15 governments failed to agree on allowing imports of a genetically modified (GM) maize.
Published 21 Feb, 2004 12:00am
Zoellick hopes for framework WTO agreement by end July

Zoellick hopes for framework WTO agreement by end July

US Trade Representative Robert Zoellick said Friday he wanted members of the World Trade Organisation to reach a framework agreement on trade liberalisation talks by the end of July.
Published 21 Feb, 2004 12:00am
Indian bank to open branch in Afghanistan

Indian bank to open branch in Afghanistan

The Punjab National Bank is to open a branch in Kabul by June, making it the first Indian bank to open an office in Afghanistan, a PNB spokesman said Friday. The move has been endorsed by the Reserve Bank of India, the central bank, the PNB spokesman told
Published 21 Feb, 2004 12:00am
Russia calls on Opec to raise oil supply

Russia calls on Opec to raise oil supply

Russia's energy minister on Friday called on the Opec oil cartel to raise production to stop international prices overheating and damaging the global economic growth, including in Russia itself.
Published 21 Feb, 2004 12:00am
Afghanistan donor meeting on March 31

Afghanistan donor meeting on March 31

US Treasury Under Secretary for International Affairs John Taylor said on Thursday a two-day donor conference to fund reconstruction in Afghanistan will take place in Berlin from March 31.
Published 21 Feb, 2004 12:00am
Energy costs drive up US consumer prices in January

Energy costs drive up US consumer prices in January

A sharp rise in energy costs pushed US consumer prices up at their fastest pace in nearly a year last month, but underlying price pressures remained muted, a government report showed on Friday.
Published 21 Feb, 2004 12:00am
Japanese government upbeat on economy and services improve

Japanese government upbeat on economy and services improve

Japanese government maintained its upbeat view of the economy in February, saying on Friday the recovery was continuing thanks to rising exports and production, though the strength of the yen needed watching.
Published 21 Feb, 2004 12:00am
Hewlett-Packard profit rises

Hewlett-Packard profit rises

Hewlett-Packard Co on Thursday reported quarterly profit that rose 30 percent as the computer and printer maker grew revenues twice as fast as rival Dell Inc in desktop and notebook PCs for the second consecutive quarter.
Published 21 Feb, 2004 12:00am
Hewlett-Packard profit rises

Hewlett-Packard profit rises

Hewlett-Packard Co on Thursday reported quarterly profit that rose 30 percent as the computer and printer maker grew revenues twice as fast as rival Dell Inc in desktop and notebook PCs for the second consecutive quarter.
Published 21 Feb, 2004 12:00am
Russia bans Texas poultry over bird flu

Russia bans Texas poultry over bird flu

Top US poultry buyer Russia has imposed a temporary ban on poultry and poultry product imports from another US state, Texas, for fear of spreading bird flu, the Agriculture Ministry said on Friday.
Published 21 Feb, 2004 12:00am
Bird flu found in cats in Asia; Canada on alert

Bird flu found in cats in Asia; Canada on alert

Two domestic cats in Thailand have died of the same bird flu that has killed at least 22 people in Asia, a veterinarian said on Friday, a day after Canada announced its first case of a different strain of the virus.
Published 21 Feb, 2004 12:00am
Fiat sells Edison shares in 100 million euro placement

Fiat sells Edison shares in 100 million euro placement

Fiat on Friday sold its 1.6 percent direct stake in Italy's number two power company Edison in a roughly 100 million euros ($127.1 million) deal, the latest sale of non-core assets in a turnaround plan.
Published 21 Feb, 2004 12:00am
Fiat sells Edison shares in 100 million euro placement

Fiat sells Edison shares in 100 million euro placement

Fiat on Friday sold its 1.6 percent direct stake in Italy's number two power company Edison in a roughly 100 million euros ($127.1 million) deal, the latest sale of non-core assets in a turnaround plan.
Published 21 Feb, 2004 12:00am
Rolls Royce plans euro benchmark bond

Rolls Royce plans euro benchmark bond

Aero-engine maker Rolls Royce plans to launch a benchmark euro-denominated bond to refinance debt, lead managers for the deal said on Friday.
Published 21 Feb, 2004 12:00am
Rolls Royce plans euro benchmark bond

Rolls Royce plans euro benchmark bond

Aero-engine maker Rolls Royce plans to launch a benchmark euro-denominated bond to refinance debt, lead managers for the deal said on Friday.
Published 21 Feb, 2004 12:00am
Austrian Air profits rise due to lower debt costs

Austrian Air profits rise due to lower debt costs

Austrian Airlines beat all forecasts on Friday with a 53.5-percent jump in 2003 operating profit, citing a market recovery, a sales campaign, costs cuts and favourable currencies.
Published 21 Feb, 2004 12:00am
Austrian Air profits rise due to lower debt costs

Austrian Air profits rise due to lower debt costs

Austrian Airlines beat all forecasts on Friday with a 53.5-percent jump in 2003 operating profit, citing a market recovery, a sales campaign, costs cuts and favourable currencies.
Published 21 Feb, 2004 12:00am
South Africa puts privatisation on back burner

South Africa puts privatisation on back burner

South Africa appears to have taken the privatisation of state-owned assets off the agenda in favour of increasing black participation in the mainstream economy, but this does not mark a shift in policy.
Published 21 Feb, 2004 12:00am
L'Oreal income up in double-digits for 19th consecutive year

L'Oreal income up in double-digits for 19th consecutive year

The world's biggest cosmetics group L'Oreal posted a 13.5 percent rise in 2003 profit on Friday, its 19th consecutive year of double-digit growth, helped by product launches and strength in emerging markets.
Published 21 Feb, 2004 12:00am
L'Oreal income up in double-digits for 19th consecutive year

L'Oreal income up in double-digits for 19th consecutive year

The world's biggest cosmetics group L'Oreal posted a 13.5 percent rise in 2003 profit on Friday, its 19th consecutive year of double-digit growth, helped by product launches and strength in emerging markets.
Published 21 Feb, 2004 12:00am
Hyundai wins $420 million order in Saudi Arabia

Hyundai wins $420 million order in Saudi Arabia

South Korea's Hyundai Heavy Industries Co Ltd said Friday it has secured a 420 million dollar order from Mitsui Co Ltd to build a power plant in Saudi Arabia.
Published 21 Feb, 2004 12:00am
Malaysia to buy back Proton stake from Mitsubishi

Malaysia to buy back Proton stake from Mitsubishi

Japan's Mitsubishi is in talks to sell its stake in Malaysian state-controlled auto maker Proton back to the government as Proton steps up its search for a new foreign partner to help it battle falling sales.
Published 21 Feb, 2004 12:00am
US Treasuries add gains after fall in factory data

US Treasuries add gains after fall in factory data

The US Treasuries crawled into the black on Thursday after data showed regional manufacturing did not flourish as much as expected in early February, which offset upbeat comments from a Federal Reserve official.
Published 21 Feb, 2004 12:00am
US Treasuries add gains after fall in factory data

US Treasuries add gains after fall in factory data

The US Treasuries crawled into the black on Thursday after data showed regional manufacturing did not flourish as much as expected in early February, which offset upbeat comments from a Federal Reserve official.
Published 21 Feb, 2004 12:00am
Taiwan equities retreat on financial offset gains

Taiwan equities retreat on financial offset gains

Taiwan stocks closed a touch lower on Friday, retreating from a 40-month high as profit-taking on financial shares like heavyweight Cathay Financial offset gains in technology shares.
Published 21 Feb, 2004 12:00am
Hong Kong stocks close flat in thin trade

Hong Kong stocks close flat in thin trade

Hong Kong stocks ended slightly lower in thin trade on Friday as blue chip financial and property stocks ran out of steam and investors took to the sidelines ahead of corporate earnings reports next week.
Published 21 Feb, 2004 12:00am
Banking shares bump Jakarta index to fresh high

Banking shares bump Jakarta index to fresh high

Banking shares helped the Jakarta stock index to a fresh high on Friday, with the government's successful sale of minority stakes in four private banks giving the sector momentum.
Published 21 Feb, 2004 12:00am
Chinese shares cruise to 19-month high as ports gain

Chinese shares cruise to 19-month high as ports gain

China shares ended at their highest in more than 19 months on Friday as investors, already riding a three-month rally, bought into shipping plays such as Tianjin Port, brokers said.
Published 21 Feb, 2004 12:00am
Philippines stocks 1 percent up, led by PLDT

Philippines stocks 1 percent up, led by PLDT

Philippines stocks rose on Friday, led by strong gains in dominant phone firm PLDT after it reported record profits in 2003 and saw further growth in 2004 on the back of its strong mobile phone firms.
Published 21 Feb, 2004 12:00am
Seoul shares drop, banks up on 2004 outlook

Seoul shares drop, banks up on 2004 outlook

South Korean shares ended lower on Friday, as investors digested gains after the market rose to near 22-month highs this week, but Woori Financial Group and other banking shares firmed on a brighter outlook for 2004.
Published 21 Feb, 2004 12:00am
Japanese stocks lower, profit-taking hits Shinsei

Japanese stocks lower, profit-taking hits Shinsei

Japanese stocks edged lower on Friday as Shinsei Bank tumbled on profit-taking a day after its strong market debut, and chip-related issues weakened on disappointing US data.
Published 21 Feb, 2004 12:00am
US Stocks: Friday's unofficial close

US Stocks: Friday's unofficial close

Stocks inched lower on Friday, recovering from earlier losses, as investors sifted through earnings scorecards and a report showing a jump in consumer prices in January that raised some fears of inflation.
Published 21 Feb, 2004 12:00am
Allianz deal shines as bond market drifts lower

Allianz deal shines as bond market drifts lower

The European corporate bond market generally drifted lower in value on Friday, although a new issue for German insurer Allianz drew strong demand and was trading significantly higher than launch pricing.
Published 21 Feb, 2004 12:00am
Allianz deal shines as bond market drifts lower

Allianz deal shines as bond market drifts lower

The European corporate bond market generally drifted lower in value on Friday, although a new issue for German insurer Allianz drew strong demand and was trading significantly higher than launch pricing.
Published 21 Feb, 2004 12:00am
Oils keep FTSE-100 index near 19-month high

Oils keep FTSE-100 index near 19-month high

Oil stocks such as Shell, powered by lofty crude prices, helped keep Britain's blue chip index near 19-month highs on Friday, as investors piled back into the recently under-performing sector.
Published 21 Feb, 2004 12:00am
Hong Kong dollar edges lower against yen and euro

Hong Kong dollar edges lower against yen and euro

The Hong Kong dollar edged lower and the discount on local dollar forwards narrowed on Friday as players adjusted positions, taking a cue from gains by the US unit against the yen and the euro.
Published 21 Feb, 2004 12:00am
Chinese yuan unchanged versus US dollar

Chinese yuan unchanged versus US dollar

The yuan ended unchanged versus the US dollar at 8.2772 on Friday, remaining near the stronger end of its managed trading range.
Published 21 Feb, 2004 12:00am
Swiss franc trades flat against US dollar and euro

Swiss franc trades flat against US dollar and euro

The Swiss franc tread water against the dollar and euro in early Friday trading after Swiss data indicated on Thursday the economy is slowly recovering from a double-dip recession with no sign of inflation pressures.
Published 21 Feb, 2004 12:00am
Dollar softens against euro, ignores strong data

Dollar softens against euro, ignores strong data

The dollar weakened against the euro on Thursday despite a fairly healthy batch of economic data, hit by profit-taking after the US currency's rally on Wednesday.
Published 21 Feb, 2004 12:00am
Australian dollar higher verses US dollar

Australian dollar higher verses US dollar

The Australian dollar circled the 79 US cents level during Friday's local session as the market consolidated after several days of volatile price action.
Published 21 Feb, 2004 12:00am
Asian currencies weaker with yen; peso hits record low

Asian currencies weaker with yen; peso hits record low

The Philippine peso hit a record low against the dollar on Friday, succumbing to political worries and heavy import demand, while other Asian currencies also fell as the US dollar resumed its uptrend.
Published 21 Feb, 2004 12:00am
Indian rupee ends steady

Indian rupee ends steady

The Indian rupee ended steady on Friday, but sentiment was upbeat on hopes that foreign investment inflows into an economy that expanded nearly nine percent in the fiscal third quarter would improve.
Published 21 Feb, 2004 12:00am
Pound sheds more than 1 percent against dollar

Pound sheds more than 1 percent against dollar

Sterling fell more than one percent against the resurgent dollar on Friday and slid against the euro as investors who had sold the dollar for months were forced to buy it on the break of key technical levels.
Published 21 Feb, 2004 12:00am
Dollar hits six-week high against yen

Dollar hits six-week high against yen

The dollar powered to six-week highs against the yen and hit two-week peaks versus the euro on Friday as investors bought back the US currency after months of dumping it across the board.
Published 21 Feb, 2004 12:00am
Russian tanker sinks in Caspian

Russian tanker sinks in Caspian

A Russian tanker carrying waste water has sunk in the Caspian Sea with 12 crew on board, only six of whom have been rescued, the local emergencies ministry said Friday as quoted by news agencies.
Published 21 Feb, 2004 12:00am
WHO plans mass polio vaccinations in West Africa

WHO plans mass polio vaccinations in West Africa

The World Health Organisation (WHO) said it aimed to vaccinate 63 million children in West Africa in a new campaign against the crippling polio virus, in spite of opposition from Muslim leaders in Nigeria.
Published 21 Feb, 2004 12:00am
Journalists still intimidated in Bangladesh

Journalists still intimidated in Bangladesh

At least 26 Bangladeshi journalists have been attacked or threatened since the murder last month of a reporter in the south-western port city of Khulna, international press watchdog Reporters Without Borders said (RSF) said Friday.
Published 21 Feb, 2004 12:00am
US pressuring big powers to beef up travel security

US pressuring big powers to beef up travel security

The United States is putting pressure on the Group of 8 industrialised nations to beef up travel security and adopt a new safety initiative at their June summit to help thwart terrorist attacks, G8 diplomats said.
Published 21 Feb, 2004 12:00am
Turkish court lifts arrest warrant for party leader Uzan

Turkish court lifts arrest warrant for party leader Uzan

A Turkish court Friday lifted an arrest warrant for nationalist party leader Cem Uzan, a member of a business family at war with the government, after he flew by helicopter to the court to answer charges of insulting Prime Minister Recep Tayyip Erdogan, U
Published 21 Feb, 2004 12:00am
390 killed during China's Lunar New Year

390 killed during China's Lunar New Year

A total of 390 people died in 60 serious road accidents in China during the just ended 40-day Spring Festival or Lunar New Year peak travel period in China, state media said Friday.
Published 21 Feb, 2004 12:00am
China executes former-party boss for disaster cover-up

China executes former-party boss for disaster cover-up

China executed a Communist Party official on Friday for his role in the cover-up of a 2001 tin mine disaster that killed at least 81 people in the south-western region of Guangxi, state television reported.
Published 21 Feb, 2004 12:00am
Shevardnadze's son-in-law held in Georgia

Shevardnadze's son-in-law held in Georgia

Georgian police detained the son-in-law of ousted President Eduard Shevardnadze as he prepared to fly abroad on Friday, the boldest move yet in an anti-corruption drive by the ex-Soviet state's new leadership.
Published 21 Feb, 2004 12:00am
Cypriots reunification talks still miles apart

Cypriots reunification talks still miles apart

Greek and Turkish Cypriot leaders completed a second day of talks here Friday on reunifying their island, with their positions on a UN blueprint still seemingly miles apart.
Published 21 Feb, 2004 12:00am