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Print - 2004-03-23
Ukraine cuts maize exports

Ukraine cuts maize exports

Ukraine's maize exports fell to 660,000 tonnes in the first eight months of the 2003/04 July-June season from 692,600 tonnes in the same period a season ago, an agriculture agency said on Monday.
Published 23 Mar, 2004 12:00am
Gold trapped in $1 range in Asia

Gold trapped in $1 range in Asia

Gold was trapped in a $1 range in Asia on Monday as dealers waited for news out of Pakistan, where troops rounded up a group of Islamic militants and tribal allies possibly linked to al Qaeda.
Published 23 Mar, 2004 12:00am
Oil prices static but nervous on Opec, Israel attack

Oil prices static but nervous on Opec, Israel attack

Oil prices were static on Monday in nervous dealings with traders awaiting a clear signal from the Opec producers' cartel on whether it would delay or implement a planned supply cut from April 1.
Published 23 Mar, 2004 12:00am
Thai sugar premiums steady

Thai sugar premiums steady

Thai sugar premiums are likely to dip further in the next few days amid quiet trade, as some exporters are keen to sell for shipment next year, traders said on Monday.
Published 23 Mar, 2004 12:00am
China's farm ministry aims to cap 2004 cotton output

China's farm ministry aims to cap 2004 cotton output

China's Agriculture Ministry aims to cap cotton output at 5.8 million tonnes this year as it wants farmers to plant more grain to offset years of falling production, the ministry and industry officials said on Monday.
Published 23 Mar, 2004 12:00am
Malaysian palm oil ends up, eyes 2,000 ringgit again

Malaysian palm oil ends up, eyes 2,000 ringgit again

Malaysian crude palm oil (CPO) futures ended beyond the 1,950 ringgit a tonne mark on Monday, and dealers said the market was poised to make a fresh attempt on the 2,000 ringgit barrier.
Published 23 Mar, 2004 12:00am
LME copper skids as funds step back

LME copper skids as funds step back

Copper prices shed just over one percent at Monday's close on the London Metal Exchange (LME) as funds reversed earlier buying as producer selling kicked in towards recent 8-1/2-year highs at $3,055, traders said.
Published 23 Mar, 2004 12:00am
New York cotton settles easier

New York cotton settles easier

NYCE cotton futures settled easier Monday on modest trade and speculative sales as the market pulled back after posting gains in the past five sessions, brokers said.
Published 23 Mar, 2004 12:00am
Gold jumps as dollar falls

Gold jumps as dollar falls

Gold prices moved to highs last seen in January in Europe on Monday, with fund buyers piling into the market as the dollar dropped on global security worries.
Published 23 Mar, 2004 12:00am
Hynix and STMicro in talks to set up plant in China

Hynix and STMicro in talks to set up plant in China

South Korea's Hynix Semiconductor Inc has held talks with Europe's biggest chip maker, ST-Microelectronics, to build a chip plant in China, Hynix said on Monday, for a reported cost of $1.73 billion.
Published 23 Mar, 2004 12:00am
EU extends ban on US poultry imports

EU extends ban on US poultry imports

The European Union has extended its ban on poultry imports from the United States for another month due to continued concern over the outbreak of bird flu, officials said on Monday.
Published 23 Mar, 2004 12:00am
Chinese foreign exchange reserves unchanged

Chinese foreign exchange reserves unchanged

Chinese foreign exchange reserves, the world's second-biggest after Japan, stood at $415.72 billion at the end of February, unchanged from the month earlier, the central bank said on Monday.
Published 23 Mar, 2004 12:00am
Top UK fund group puts concerns to Shell

Top UK fund group puts concerns to Shell

Leading British investors met Royal Dutch/Shell on Monday to express their concerns over two shock cuts to the oil giant's reserves amid calls for the firm to simplify its board structure.
Published 23 Mar, 2004 12:00am
Opec wrangles over output cut delay

Opec wrangles over output cut delay

Opec oil producers on Monday wrangled over whether they should delay a planned production cut to cool red-hot oil prices which last week touched a 13-year high.
Published 23 Mar, 2004 12:00am
Hyundai wins order in Iraq

Hyundai wins order in Iraq

South Korea's Hyundai Engineering and Construction said Monday it has won reconstruction orders worth 220 million dollars to build power distribution and transmission facilities in Iraq.
Published 23 Mar, 2004 12:00am
Malaysian economic tack endorsed by poll; peg firm

Malaysian economic tack endorsed by poll; peg firm

A clear victory for Malaysia's government signals a green light for policies aimed at driving growth with domestic investment but no early change to its fixed exchange rate regime, economists said on Monday.
Published 23 Mar, 2004 12:00am
Eurozone trade surplus shrink

Eurozone trade surplus shrink

The trade surplus in the 12-nation eurozone shrank to 1.2 billion euros (1.5 billion dollars) in January from 6.1 billion euros in December, the statistics institute Eurostat reported Monday.
Published 23 Mar, 2004 12:00am
Asian efforts to cut bad loans may slow: Ernst & Young

Asian efforts to cut bad loans may slow: Ernst & Young

Asian efforts to reduce the mass of bad loans in the region threaten to slow down, partly because of a reluctance to let assets fall into foreign hands, consultancy Ernst & Young said on Monday.
Published 23 Mar, 2004 12:00am
Blair urges Europe to step up economic reform

Blair urges Europe to step up economic reform

Europe needs to raise its game on economic reform to compete with the growing technological prowess of economies such as China and India, British Prime Minister Tony Blair said Monday.
Published 23 Mar, 2004 12:00am
Siemens to move 10,000 jobs abroad

Siemens to move 10,000 jobs abroad

German manufacturing conglomerate Siemens AG is considering moving more than 10,000 jobs to low-wage countries in eastern Europe and Asia, union sources said on Monday.
Published 23 Mar, 2004 12:00am
World airports poised for strong performance in 2004

World airports poised for strong performance in 2004

World airports are poised for a strong economic performance in 2004 after seeing a two percent increase in passengers and three percent in cargo last year, the head of the industry's global body ACI said on Monday.
Published 23 Mar, 2004 12:00am
Sun Micro shows off new system for gaming servers

Sun Micro shows off new system for gaming servers

Sun Microsystems Inc on Sunday said it would demonstrate a prototype system to allow video game publishers to use a single computer server to run online games for both PCs and consoles, cutting the ongoing cost of supporting those games.
Published 23 Mar, 2004 12:00am
High prices make US energy bill likely

High prices make US energy bill likely

High energy prices make the passage of a comprehensive energy bill more likely, the chairman of the US House energy and commerce committee said on Sunday.
Published 23 Mar, 2004 12:00am
Heavy data week may give clues on ECB rate mood

Heavy data week may give clues on ECB rate mood

Confidence data from the eurozone's biggest economies this week should help markets to decide if clouds gathering on Europe's horizon may turn stormy, and might give clues on whether interest rates will fall.
Published 23 Mar, 2004 12:00am
Elections shift Asian political risk northward

Elections shift Asian political risk northward

In an about-turn for Asian risk analysis, elections in Taiwan and Malaysia have shown a shift in short-term political risk from Southeast Asia to North Asia, long seen as the safer investment target.
Published 23 Mar, 2004 12:00am
Yahoo re-launches Autos site

Yahoo re-launches Autos site

Yahoo Inc, the Internet media company, on Monday will re-launch its Autos site, seeking to make it more helpful to car buyers and more effective for advertisers who are selling, the company said on Sunday.
Published 23 Mar, 2004 12:00am
Yahoo re-launches Autos site

Yahoo re-launches Autos site

Yahoo Inc, the Internet media company, on Monday will re-launch its Autos site, seeking to make it more helpful to car buyers and more effective for advertisers who are selling, the company said on Sunday.
Published 23 Mar, 2004 12:00am
IMF to approve Argentina next loan tranche

IMF to approve Argentina next loan tranche

The International Monetary Fund is expected to approve a $3.1 billion loan payment to Argentina when its board meets on Monday, but with stern warnings to Buenos Aires to stick to a commitment to resolve differences with foreign creditors.
Published 23 Mar, 2004 12:00am
Aero Asia International: Pakistan's first low fare private Airline

Aero Asia International: Pakistan's first low fare private Airline

Aero Asia International, Pakistan's First Low Fare Private Airline, with 11 years of successful operations, currently has 650 departures per month of which 400 are domestic flights and 250 international flights. Aero Asia operated first flight on Karachi-
Published 23 Mar, 2004 12:00am
Thailand to tighten credit card controls

Thailand to tighten credit card controls

Thailand plans fresh measures to rein in a fast-growing credit card industry blamed for rising household debt as it tries to avoid a possible consumer credit bubble.
Published 23 Mar, 2004 12:00am
Malaysian shares, bonds up on Abdullah's victory

Malaysian shares, bonds up on Abdullah's victory

Malaysian shares bucked the regional trend to close higher on Monday, boosted by a stronger-than-expected election victory by Prime Minister Abdullah Ahmad Badawi's ruling coalition.
Published 23 Mar, 2004 12:00am
Thai stocks end flat as trade drops to nine-month low

Thai stocks end flat as trade drops to nine-month low

Thai shares closed nearly unchanged in thin trade on Monday as bargain hunting in big-cap stocks offset poor sentiment emanating from falls on other Asian stock markets, analysts said.
Published 23 Mar, 2004 12:00am
Sri Lankan stocks jump on selective buying

Sri Lankan stocks jump on selective buying

Sri Lankan stocks gained on Monday on buying in select counters and foreign interest, but most blue chips stayed flat with investors waiting out a period of uncertainty ahead of April 2 elections. The key Colombo all-share index ended up 2.67 percent, or
Published 23 Mar, 2004 12:00am
Taiwan election aftermath roils markets

Taiwan election aftermath roils markets

Fears of a political crisis slammed the Taiwan stock market on Monday, wiping out $28 billion in investor wealth, and triggered central bank intervention to underpin the island's dollar.
Published 23 Mar, 2004 12:00am
Manila stocks dip after three-day rise

Manila stocks dip after three-day rise

Philippine stocks ended lower on Monday after a three-day rise last week as investors locked in profits in the absence of fresh leads, analysts said.
Published 23 Mar, 2004 12:00am
Singapore shares finish at 11-week low

Singapore shares finish at 11-week low

Singapore shares ended at an 11-week low on Monday as sharp losses in regional markets unnerved investors and spurred selling in banks and blue chips.
Published 23 Mar, 2004 12:00am
South Korean shares slip, hit by political woes

South Korean shares slip, hit by political woes

South Korean shares closed more than two percent lower on Monday, as political uncertainty in regional neighbour Taiwan triggered heavy foreign selling in the local futures market, battering blue chips and banks.
Published 23 Mar, 2004 12:00am
Australian stocks slide

Australian stocks slide

Australian stocks retreated further in afternoon trade on Monday after profit-taking and as jitters over global security fears dragged down banks and resource majors.
Published 23 Mar, 2004 12:00am
Tokyo stocks close lower as technology shares sag

Tokyo stocks close lower as technology shares sag

Japanese stocks ended lower on Monday for a second straight session, with a profit warning from Sanyo Electric dragging down technology shares and profit-taking continuing to weigh on recent high-flyers like real estate firms.
Published 23 Mar, 2004 12:00am
Chinese shares at 27-month peak

Chinese shares at 27-month peak

Stocks in firms from China's frontline province with Taiwan dived on Monday after the island's tumultuous presidential elections, but overall markets closed at their highest level in more than two years.
Published 23 Mar, 2004 12:00am
Indian shares slip to new three-month low

Indian shares slip to new three-month low

Indian shares started the week on a bearish note on Monday tracking overseas markets, with edgy investors booking profits across the board.
Published 23 Mar, 2004 12:00am
Corporate bonds steady despite equity drops

Corporate bonds steady despite equity drops

European corporate bonds held largely steady on Monday, with traders reporting little turnover, despite heavy losses on leading stock indices as fears about security and the state of the world economy increased.
Published 23 Mar, 2004 12:00am
Corporate bonds steady despite equity drops

Corporate bonds steady despite equity drops

European corporate bonds held largely steady on Monday, with traders reporting little turnover, despite heavy losses on leading stock indices as fears about security and the state of the world economy increased.
Published 23 Mar, 2004 12:00am
FTSE-100 index hits three-month low on security fears

FTSE-100 index hits three-month low on security fears

Over 20 billion pounds ($37 billion) was wiped off the value of Britain's biggest shares on Monday after Israel's assassination of the leader of Hamas added to already heightened security concerns.
Published 23 Mar, 2004 12:00am
Australian dollar stronger

Australian dollar stronger

The Australian dollar tested support in the face of a strengthening US dollar on Monday, risking a further retracement after the unit dipped through 74.40 US cents.
Published 23 Mar, 2004 12:00am
Swiss franc weakens

Swiss franc weakens

The Swiss franc weakened against the dollar in early trade on Monday as a broad retreat from last week's peaks in the safe-haven currency continued.
Published 23 Mar, 2004 12:00am
Hong Kong dollar eases

Hong Kong dollar eases

The Hong Kong dollar eased on Monday but moved off morning lows as some players stepped to the sidelines awaiting the next development in Taiwan's political stand-off.
Published 23 Mar, 2004 12:00am
Chinese yuan weaker

Chinese yuan weaker

The yuan ended one notch weaker versus the dollar at 8.2774 on Monday, remaining near the stronger end of its managed trading range.
Published 23 Mar, 2004 12:00am
Sterling at two-week high against dollar and euro

Sterling at two-week high against dollar and euro

Sterling hit a two-week high against the dollar on Monday and gained one percent versus the yen as the greenback and the Japanese currency fell victim to global security concerns.
Published 23 Mar, 2004 12:00am
Yen and dollar down as security in focus

Yen and dollar down as security in focus

The yen and the dollar fell prey to security concerns and sliding stocks on Monday, leaving the euro as the biggest beneficiary in a market short on fundamental economic news to move prices.
Published 23 Mar, 2004 12:00am
Indian rupee at near 44-month high

Indian rupee at near 44-month high

The Indian rupee rebounded from early lows to end at a near 44-month closing high on Monday amid robust trade and foreign investment inflows and muted central bank intervention, dealers said.
Published 23 Mar, 2004 12:00am
Alarmed Imran wants bowling coach

Alarmed Imran wants bowling coach

With the famed Pakistan bowling coming under flak in the on-going one-day series, legendary cricketer Imran Khan called for appointing a bowling coach for the team if it was to win the Test series against India.
Published 23 Mar, 2004 12:00am
Kumble and Agarkar return to Test squad

Kumble and Agarkar return to Test squad

Bowlers Anil Kumble and Ajit Agarkar have returned to the Indian squad for the three-test series in Pakistan starting on Sunday.
Published 23 Mar, 2004 12:00am
No match-fixing: Shaharyar

No match-fixing: Shaharyar

Chairman Pakistan Cricket Board (PCB) Shaharyar M. Khan while refuting the allegation of match fixing in Sunday's match, has stated that victory or defeat was part of the game.
Published 23 Mar, 2004 12:00am
Dravid and Kaif snatch win from Pakistan

Dravid and Kaif snatch win from Pakistan

Amalgamating confidence, composure and authority Rahul Dravid, known in his country as 'Wall', and Mohammad Kaif capped a splendid effort to take India to a five-wicket triumph when everything seemed lost and looked in favour of Pakistan in the fourth one
Published 23 Mar, 2004 12:00am
Pakistan in disarray as India set up dream finish

Pakistan in disarray as India set up dream finish

A war of words broke out between two Pakistani cricket legends on Monday after arch-rivals India engineered a remarkable comeback to level the one-day series 2-2.
Published 23 Mar, 2004 12:00am
'Snake Man' killed by cobra

'Snake Man' killed by cobra

Thailand's Boonreung Buachan, holder of the Guinness Book of World Records title for spending the most time penned up with snakes, was killed by a cobra which bit him during his daily show, a hospital doctor said on Monday.
Published 23 Mar, 2004 12:00am
Zimbabwe 'mercenaries' to be tried in prison: judge

Zimbabwe 'mercenaries' to be tried in prison: judge

Seventy suspected mercenaries charged in Zimbabwe with plotting to kill the president of Equatorial Guinea will be tried in a court set up in the jail where they are held, a judge ruled on Monday.
Published 23 Mar, 2004 12:00am
Chirac and Ahern aim for EU constitution deal in June

Chirac and Ahern aim for EU constitution deal in June

French President Jacques Chirac and Irish Prime Minister Bertie Ahern said on Monday an agreement on a constitution for the European Union could be reached at an EU summit on June 17 and 18.
Published 23 Mar, 2004 12:00am
French left's surge threatens Prime Minister Raffarin

French left's surge threatens Prime Minister Raffarin

Storm clouds gathered over Prime Minister Jean-Pierre Raffarin on Monday after French voters dealt him a stinging defeat in the first round of regional elections overshadowed by high unemployment and strikes.
Published 23 Mar, 2004 12:00am
Thales to put video surveillance on Paris buses

Thales to put video surveillance on Paris buses

French defence electronics company Thales said on Monday it had won a contract from Paris's RATP transport operator to put video surveillance systems on more than 1,200 city buses.
Published 23 Mar, 2004 12:00am
Beijing supporters warn Hong Kong of Taiwan-style democracy

Beijing supporters warn Hong Kong of Taiwan-style democracy

Pro-China politicians in Hong Kong pointed gleefully at post-election turmoil in Taiwan on Monday as an example of democracy gone wrong and warned residents that speedy moves to universal suffrage may only lead to chaos.
Published 23 Mar, 2004 12:00am
Blair to visit Libya

Blair to visit Libya

British Prime Minister Tony Blair is to visit Libya on Thursday, a son of Libyan leader Moamer Kadhafi in an interview due to be published here Tuesday.
Published 23 Mar, 2004 12:00am
13 British soldiers hurt in Iraq blast

13 British soldiers hurt in Iraq blast

Two explosions in the southern Iraqi city of Basra wounded 13 British soldiers on Monday, in an attack that followed a demonstration by unemployed youths, the British military said.
Published 23 Mar, 2004 12:00am
Iran's atomic reactor plans back on track: Russia

Iran's atomic reactor plans back on track: Russia

Russia's plans to finish an atomic reactor in Iran are back on track after a pause that followed a tough new resolution on Iran by the UN nuclear watchdog, Russia's top atomic official said on Monday.
Published 23 Mar, 2004 12:00am
US calls for calm

US calls for calm

The United States denied Monday it had given the green light to Israel to kill Hamas leader Sheikh Ahmed Yassin and appealed for calm in the region following the assassination.
Published 23 Mar, 2004 12:00am
US soldier and Iraqi interpreter killed in bomb blast

US soldier and Iraqi interpreter killed in bomb blast

A US soldier and an Iraqi interpreter were killed by a roadside bomb in Baghdad overnight, and nine soldiers were wounded in various attacks in the Iraqi capital, the military said Monday.
Published 23 Mar, 2004 12:00am
Sistani sets terms for co-operation with UN

Sistani sets terms for co-operation with UN

Iraq's top Shia cleric has urged the United Nations not to endorse the country's interim constitution, his office said on Monday, raising a potentially grave obstacle to US plans to hand power to Iraqis on July 1.
Published 23 Mar, 2004 12:00am
Afghanistan sends troops to Herat

Afghanistan sends troops to Herat

Afghan President Hamid Karzai sent troops from the new national army to keep order in the western city of Herat on Monday after more than 100 people died in factional fighting following the killing of a minister.
Published 23 Mar, 2004 12:00am
Cyprus talks fail; Greece and Turkey to help

Cyprus talks fail; Greece and Turkey to help

Greek and Turkish Cypriot leaders on Monday abandoned talks between themselves to reunite their Mediterranean island, opening the way for Greece and Turkey to try to hammer out a deal.
Published 23 Mar, 2004 12:00am
Clarke's accusations all wrong: White House

Clarke's accusations all wrong: White House

The White House said on Monday former US anti-terrorism czar Richard Clarke had "no idea" what he was talking about when he accused the Bush administration of focusing on Iraq after the September 11, 2001, attacks.
Published 23 Mar, 2004 12:00am
Saudi prince rules out elected Shura Council

Saudi prince rules out elected Shura Council

Saudi Arabia is not yet ready to have an elected parliament because voters may pick illiterate and unqualified candidates, Defence Minister Prince Sultan said in remarks broadcast on Monday.
Published 23 Mar, 2004 12:00am
World condemns Israel's 'unlawful' killing of Hamas leader

World condemns Israel's 'unlawful' killing of Hamas leader

EU and other world leaders Monday strongly condemned as unlawful the assassination of Hamas spiritual leader Sheikh Ahmed Yassin and warned Israel may have buried the peace process along with any hope of resolving the bloody Arab-Israeli conflict.
Published 23 Mar, 2004 12:00am
Vajpayee's ratings soar ahead of polls

Vajpayee's ratings soar ahead of polls

A new opinion poll puts India's prime minister streets ahead of his rival for national elections next month, the Times of India said.
Published 23 Mar, 2004 12:00am
Taiwan protesters vow to stay until vote recount

Taiwan protesters vow to stay until vote recount

Defiant in the chilly night, 20,000 protesters in Taiwan's capital vowed not to go home without the promise of a presidential vote recount after Chen Shui-bian won a razor-thin victory on a wave of sympathy hours after surviving an assassination bid.
Published 23 Mar, 2004 12:00am
Pakistan Movement based on Islamic ideology

Pakistan Movement based on Islamic ideology

Pakistan's emergence was not just the emergence of a new state, it was created on the basis of Islamic ideology. If Pakistan had not been created, the Muslims would have been under Hindu majority in a united India and lost to the Hindu majority.
Published 23 Mar, 2004 12:00am
Pakistan Resolution-Revisited

Pakistan Resolution-Revisited

Each year on 23rd March we have a public holiday. We call it Pakistan Day. This date is very significant in our calendar. Sixtyfour years ago, on 23rd March 1940 a landmark resolution was adopted at the open session of All India Muslim League held at Laho
Published 23 Mar, 2004 12:00am
Data Ganj Bakhsh Urs from April 9

Data Ganj Bakhsh Urs from April 9

The 960th annual Urs ceremonies of the great mystic saint of the sub-continent, Hazrat Ali bin Usman Hajveri (RA), popularly known as Hazrat Data Ganj Bakhsh (RA), would commence at the Data Darbar Complex, here from April 9.
Published 23 Mar, 2004 12:00am
Three Indians held with fake media cards

Three Indians held with fake media cards

Three Indians pretending themselves as journalists having forged media cards were caught during the fourth One-Day International (ODI) between Pakistan and India here on Sunday.
Published 23 Mar, 2004 12:00am
Supreme Court allows PMDC appeals

Supreme Court allows PMDC appeals

The Supreme Court on Monday, setting aside the judgement of the Federal Service Tribunal, accepted the appeals of Pakistan Mineral Development Corporation (PMDC) against more than 100 employees.
Published 23 Mar, 2004 12:00am
2,303 families of Lyari Expressway project allotted plots

2,303 families of Lyari Expressway project allotted plots

As many as 2,303 families affected by Lyari Expressway project have so far been allotted plots in Tehsar Town, the Sindh Chief Minister's Advisor for special projects, Mumtaz Hameed was informed during his visit to the town on Monday.
Published 23 Mar, 2004 12:00am
Students hold demonstration against Sheikh Yassin's martyrdom

Students hold demonstration against Sheikh Yassin's martyrdom

Hundreds of students studying at local educational institutions on Monday brought out a rally protest martyrdom of Shaikh Ahmed Yassin, who was killed along with his several others companions in a attack of Israeli gun-ship helicopters in Gaza.
Published 23 Mar, 2004 12:00am
Dawat-e-Islami congregation postponed

Dawat-e-Islami congregation postponed

A religious organisation, Dawat-e-Islami has decided to postpone the three-day congregation, to be held on March 31-April 02. Now it will be held from April 14 to 16 in Islamabad.
Published 23 Mar, 2004 12:00am
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