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Nov 16, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2004-09-16
Tokyo gold up as dollar struggles; platinum falls

Tokyo gold up as dollar struggles; platinum falls

Tokyo gold futures edged up to a fresh one-and-a-half-week high on Wednesday as the dollar struggled in the wake of weaker-than-expected US economic data and wariness over the outlook for the currency.
Published 16 Sep, 2004 12:00am
NWFP Assembly asks Musharraf to doff uniform

NWFP Assembly asks Musharraf to doff uniform

Through a resolution passed with a majority, NWFP Assembly on Wednesday asked President General Pervez Musharraf to follow the Constitution of 1973 and shed uniform before December 31 to fulfil his commitment with the nation that he made in his address to
Published 16 Sep, 2004 12:00am
Comex gold higher on soft dollar

Comex gold higher on soft dollar

Comex gold trimmed some of its gains by the close on Tuesday, but with more soft US economic data expected for the rest of the week, traders said they looked for more dollar weakness and therefore gold strength.
Published 16 Sep, 2004 12:00am
NWFP Assembly asks Musharraf to doff uniform

NWFP Assembly asks Musharraf to doff uniform

Through a resolution passed with a majority, NWFP Assembly on Wednesday asked President General Pervez Musharraf to follow the Constitution of 1973 and shed uniform before December 31 to fulfil his commitment with the nation that he made in his address to
Published 16 Sep, 2004 12:00am
ISE maintains downtrend

ISE maintains downtrend

Equities continued to show negative signs at the Islamabad Stock Exchange (ISE) where genuine players and profit hunters offloaded their positions to avoid heavy losses amid decrease in index. ISE network index was minus by 97.76 points as the rate-based
Published 16 Sep, 2004 12:00am
Malaysian palm oil exports

Malaysian palm oil exports

Malaysia's export of oil palm products for September 1-15 stood at 675,647 tonnes, up 24 percent from the 544,819 tonnes shipped in August 1-15, cargo surveyor Society Generale de Surveillance (SGS) said on Wednesday.
Published 16 Sep, 2004 12:00am
ISE maintains downtrend

ISE maintains downtrend

Equities continued to show negative signs at the Islamabad Stock Exchange (ISE) where genuine players and profit hunters offloaded their positions to avoid heavy losses amid decrease in index. ISE network index was minus by 97.76 points as the rate-based
Published 16 Sep, 2004 12:00am
Shanghai copper down

Shanghai copper down

Most Shanghai coppers futures edged down on Wednesday to track an overnight fall on the London Metal Exchange, traders said. Shanghai's most active contract, December, fell 120 yuan to 26,040 yuan ($3,146) a tonne, while most other contracts closed down b
Published 16 Sep, 2004 12:00am
Values extend losses on LSE

Values extend losses on LSE

Led by fuel and energy sector, share values extended the overnight losses on the Lahore Stock Exchange (LSE), where the index registered a net loss of 53.04 points, with a slight upward fluctuation in overall trade turnover. At the close, the LSE-25 index
Published 16 Sep, 2004 12:00am
Tokyo rubber slips

Tokyo rubber slips

Tokyo rubber futures eased on Wednesday, succumbing to profit-taking after failing to top the key 140 yen level in the absence of supportive factors.
Published 16 Sep, 2004 12:00am
Values extend losses on LSE

Values extend losses on LSE

Led by fuel and energy sector, share values extended the overnight losses on the Lahore Stock Exchange (LSE), where the index registered a net loss of 53.04 points, with a slight upward fluctuation in overall trade turnover. At the close, the LSE-25 index
Published 16 Sep, 2004 12:00am
US oil eyes $45, hurricane shuts output, refineries

US oil eyes $45, hurricane shuts output, refineries

Oil prices headed up towards $45 a barrel on Wednesday as Hurricane Ivan shut 60 percent of crude output in the Gulf of Mexico and at least five refiners along the US coast planned to close as a precaution.
Published 16 Sep, 2004 12:00am
KSE index hits six-month low

KSE index hits six-month low

Bears' roars were heard loudly and bruised the small investors as share prices at KSE plunged on Wednesday, where index touched the six-month low level. The KSE-100 index lost 90.02 points, or 1.77 percent, to 4997.35 as compared with 5087.37. The volume
Published 16 Sep, 2004 12:00am
Bangladeshi tea falls

Bangladeshi tea falls

The average price of Bangladeshi teas eased slightly because of less overseas demand at Tuesday's weekly auction, brokers said.
Published 16 Sep, 2004 12:00am
KSE index hits six-month low

KSE index hits six-month low

Bears' roars were heard loudly and bruised the small investors as share prices at KSE plunged on Wednesday, where index touched the six-month low level. The KSE-100 index lost 90.02 points, or 1.77 percent, to 4997.35 as compared with 5087.37. The volume
Published 16 Sep, 2004 12:00am
Thai rice futures hit lowest, volume drops

Thai rice futures hit lowest, volume drops

Thai rice futures fell on Wednesday to their lowest since trade started in late August on worries overseas demand will fall after a Thai exporter sold 900,000 tonnes to a Geneva-based trader last week, brokers said.
Published 16 Sep, 2004 12:00am
New York sugar firmer

New York sugar firmer

NYBOT raw sugar futures settled higher on Tuesday on fund and trade buying, with brokers saying the focus will be fixed firmly on players rolling positions out of the spot contract.
Published 16 Sep, 2004 12:00am
Vietnam rice price curbs keep trade slow

Vietnam rice price curbs keep trade slow

Rice trading in Vietnam, the world's second-largest exporter of the grain, has slowly resumed in the past week as buyers await details on the new export policy while sellers struggle with a local price floor, traders said.
Published 16 Sep, 2004 12:00am
SBP view of Amexco exit

SBP view of Amexco exit

Confirming a report which appeared in Business Recorder on Tuesday says that the American Express Bank has decided to close its operations in the wake of State Bank's decision to enhance the minimum capital requirement to Rs 2 billion for a banking
Published 16 Sep, 2004 12:00am
Soyabeans lower on harvest

Soyabeans lower on harvest

Chicago Board of Trade soyabean futures settled lower on Tuesday as active US harvesting and talk of good US yields offset enthusiasm about overnight US soyabean sales to China, brokers said.
Published 16 Sep, 2004 12:00am
SBP view of Amexco exit

SBP view of Amexco exit

Confirming a report which appeared in Business Recorder on Tuesday says that the American Express Bank has decided to close its operations in the wake of State Bank's decision to enhance the minimum capital requirement to Rs 2 billion for a banking
Published 16 Sep, 2004 12:00am
CBOT rice up on spillover buying

CBOT rice up on spillover buying

Rough rice futures at the Chicago Board of Trade closed higher on Tuesday on spillover speculative buying from Monday amid concerns that possible fallout rains from Hurricane Ivan could damage the US rice crop and stall harvest, traders said.
Published 16 Sep, 2004 12:00am
India likely to cut edible oil base import prices

India likely to cut edible oil base import prices

The Indian government is likely to announce a 10 percent cut across the board in base import prices of all edible oils to check rising inflation, a senior finance ministry official said on Wednesday.
Published 16 Sep, 2004 12:00am
Malaysian palm oil rebounds

Malaysian palm oil rebounds

Malaysian crude palm oil futures rebounded from early losses to close higher on Wednesday, helped by September 1-15 export data from cargo surveyor SGS and news that India will likely announce a 10 percent cut in base import prices of all edible oils.
Published 16 Sep, 2004 12:00am
Sugar mills plea to delay crushing turned down

Sugar mills plea to delay crushing turned down

The government on Wednesday turned down sugar mills' plea for delaying crushing by two weeks and asked the Pakistan Sugar Mills Association (PSMA) to ensure that its members units start crushing from October 1 and November 1 in Sindh and Punjab, respectiv
Published 16 Sep, 2004 12:00am
US exporters sell soya

US exporters sell soya

Private exporters reported the sale of 110,000 tonnes of soyabeans to unknown destinations for the 2004/05 marketing year, the US Agriculture Department said on Wednesday.
Published 16 Sep, 2004 12:00am
Sugar mills plea to delay crushing turned down

Sugar mills plea to delay crushing turned down

The government on Wednesday turned down sugar mills' plea for delaying crushing by two weeks and asked the Pakistan Sugar Mills Association (PSMA) to ensure that its members units start crushing from October 1 and November 1 in Sindh and Punjab, respectiv
Published 16 Sep, 2004 12:00am
Mobilink announces Zabardast Bundle Offer

Mobilink announces Zabardast Bundle Offer

Mobilink is offering a new easy on the pocket promotion of Jazz connections with original Nokia 3310 mobile sets to subscribers at all its customers and franchise centers across the country.
Published 16 Sep, 2004 12:00am
10 Pakistanis held in Spain

10 Pakistanis held in Spain

Spanish police arrested 10 Pakistanis suspected of involvement in extremism during an operation in the northeastern region of Catalonia on Wednesday, judicial sources said. However, the sources said the arrests were not related to the March 11 attacks in
Published 16 Sep, 2004 12:00am
Rashid elected ADFIMI chief

Rashid elected ADFIMI chief

The Management Committee of Association of Development Finance Institution in Member Countries of Islamic Development Bank (ADFIMI) in its meeting in Tehran had elected Chief Executive of Saudi Pak Industrial and Agricultural Investment Company (Pvt)Limit
Published 16 Sep, 2004 12:00am
10 Pakistanis held in Spain

10 Pakistanis held in Spain

Spanish police arrested 10 Pakistanis suspected of involvement in extremism during an operation in the northeastern region of Catalonia on Wednesday, judicial sources said. However, the sources said the arrests were not related to the March 11 attacks in
Published 16 Sep, 2004 12:00am
China to remove securities market boss

China to remove securities market boss

China will replace its chief markets regulator, an ex-banker who has come under fire for dragging his heels on much-needed reform, a government source familiar with the situation said on Wednesday.
Published 16 Sep, 2004 12:00am
POL prices unchanged

POL prices unchanged

The Oil Companies Advisory Committee met here on Wednesday to review the prices of various petroleum products, and decided to keep them unchanged. According to the Committee's decision, the prices of petroleum products will remain at the same level for th
Published 16 Sep, 2004 12:00am
Russian central bank at ease with CPI, rouble targets

Russian central bank at ease with CPI, rouble targets

The Russian central bank sees no need to review targets for inflation or real rouble appreciation, the country's Interfax news agency quoted a top bank official as saying on Wednesday.
Published 16 Sep, 2004 12:00am
POL prices unchanged

POL prices unchanged

The Oil Companies Advisory Committee met here on Wednesday to review the prices of various petroleum products, and decided to keep them unchanged. According to the Committee's decision, the prices of petroleum products will remain at the same level for th
Published 16 Sep, 2004 12:00am
China bank seals $970 million investment ahead of IPO

China bank seals $970 million investment ahead of IPO

Construction Bank, China's top property lender, has won nearly $1 billion in investment from three domestic industry leaders ahead of an IPO that could be worth up to $10 billion, an investor said on Wednesday.
Published 16 Sep, 2004 12:00am
Six-month treasury bills rate up by 0.39 bps

Six-month treasury bills rate up by 0.39 bps

Realising that liquidity in the inter-bank market was tight, the State Bank of Pakistan (SBP) has decided not to raise Rs 2 billion in the six-month T-bills auction, however, the central bank did give a signal to the banks to raise lending rates at a meas
Published 16 Sep, 2004 12:00am
Singapore firms lay off fewer workers in second quarter

Singapore firms lay off fewer workers in second quarter

Singapore companies sacked fewer workers in the June quarter as exports fuelled an expansion in the economy, but growth in employment was slowing, a government labour market report showed on Wednesday.
Published 16 Sep, 2004 12:00am
Six-month treasury bills rate up by 0.39 bps

Six-month treasury bills rate up by 0.39 bps

Realising that liquidity in the inter-bank market was tight, the State Bank of Pakistan (SBP) has decided not to raise Rs 2 billion in the six-month T-bills auction, however, the central bank did give a signal to the banks to raise lending rates at a meas
Published 16 Sep, 2004 12:00am
Gazprom hits new high on share liberalisation

Gazprom hits new high on share liberalisation

Shares in Russian gas monopoly Gazprom rallied to an all-time high on Wednesday after President Vladimir Putin approved a plan to lift a ban on foreign ownership of its domestic shares.
Published 16 Sep, 2004 12:00am
Six-month treasury bills rate up by 0.39 bps

Six-month treasury bills rate up by 0.39 bps

Realising that liquidity in the inter-bank market was tight, the State Bank of Pakistan (SBP) has decided not to raise Rs 2 billion in the six-month T-bills auction, however, the central bank did give a signal to the banks to raise lending rates at a meas
Published 16 Sep, 2004 12:00am
Gazprom hits new high on share liberalisation

Gazprom hits new high on share liberalisation

Shares in Russian gas monopoly Gazprom rallied to an all-time high on Wednesday after President Vladimir Putin approved a plan to lift a ban on foreign ownership of its domestic shares.
Published 16 Sep, 2004 12:00am
Population control making real progress despite hurdles

Population control making real progress despite hurdles

Measures to control population growth and, thus, reducing poverty were making "real progress", but there were still inadequate resources, gender biases and gaps in serving the poor and adolescents that undermined further progress over the challenges that
Published 16 Sep, 2004 12:00am
Thai investment group Globlex plans $12 million IPO

Thai investment group Globlex plans $12 million IPO

Thai investment group Globlex Holding Management said on Wednesday it plans to raise 494.5 million baht ($12 million) in an initial public offering next week in a bid to expand in growing capital markets.
Published 16 Sep, 2004 12:00am
'Saudi Arabia and Vietnam among flouters of religious freedom'

'Saudi Arabia and Vietnam among flouters of religious freedom'

The US State Department for the first time named close ally Saudi Arabia as well as Eritrea and Vietnam "countries of particular concern" in its annual report on international religious freedom, released Wednesday.
Published 16 Sep, 2004 12:00am
Thai investment group Globlex plans $12 million IPO

Thai investment group Globlex plans $12 million IPO

Thai investment group Globlex Holding Management said on Wednesday it plans to raise 494.5 million baht ($12 million) in an initial public offering next week in a bid to expand in growing capital markets.
Published 16 Sep, 2004 12:00am
President to stay as army chief: Rashid

President to stay as army chief: Rashid

President General Pervez Musharraf will remain the army chief, Information Minister Sheikh Rashid announced on Wednesday, even though the general had pledged to relinquish the post this year. The government has taken a decision that "the president stay as
Published 16 Sep, 2004 12:00am
Thai truck sales indicator down sharply

Thai truck sales indicator down sharply

Sales of one-tonne pick-up trucks in Thailand fell for the fifth straight month in August, reflecting other signs of a softening economy, according to a Reuters index that uses vehicle data as an economic indicator.
Published 16 Sep, 2004 12:00am
President to stay as army chief: Rashid

President to stay as army chief: Rashid

President General Pervez Musharraf will remain the army chief, Information Minister Sheikh Rashid announced on Wednesday, even though the general had pledged to relinquish the post this year. The government has taken a decision that "the president stay as
Published 16 Sep, 2004 12:00am
Singapore retail sales unexpectedly weak in July

Singapore retail sales unexpectedly weak in July

Singapore's retail sales were worse than expected in July, falling 5 percent from June and adding to signs of a slowdown in consumer spending in one of Asia's fastest-growing economies.
Published 16 Sep, 2004 12:00am
Indian firms plan hydrogen powered cars by 2010

Indian firms plan hydrogen powered cars by 2010

Indian automobile makers plan to introduce 1,000 hydrogen-powered cars by 2010 and will spend at least $160 million to develop the new technology, government and industry officials said on Wednesday.
Published 16 Sep, 2004 12:00am
Asian fund managers see weaker growth: Merrill

Asian fund managers see weaker growth: Merrill

A rising number of Asia Pacific fund managers expect weaker economic growth and smaller corporate profits in the next 12 months, according to a monthly Merrill Lynch survey.
Published 16 Sep, 2004 12:00am
Bodies formed to seek political solution to Wana and Balochistan

Bodies formed to seek political solution to Wana and Balochistan

The government on Wednesday constituted special committees to seek a political solution to resolve the situation in Wana and Balochistan, Information Minister Sheikh Rashid said. The relaxation announced by the government to the foreign terrorists in Wana
Published 16 Sep, 2004 12:00am
Asian fund managers see weaker growth: Merrill

Asian fund managers see weaker growth: Merrill

A rising number of Asia Pacific fund managers expect weaker economic growth and smaller corporate profits in the next 12 months, according to a monthly Merrill Lynch survey.
Published 16 Sep, 2004 12:00am
Bodies formed to seek political solution to Wana and Balochistan

Bodies formed to seek political solution to Wana and Balochistan

The government on Wednesday constituted special committees to seek a political solution to resolve the situation in Wana and Balochistan, Information Minister Sheikh Rashid said. The relaxation announced by the government to the foreign terrorists in Wana
Published 16 Sep, 2004 12:00am
Strike shuts down Eiffel Tower

Strike shuts down Eiffel Tower

A strike by workers at the Eiffel Tower in Paris kept the iconic monument closed to tourists for the second day in a row Wednesday because of worries over job security, management and employees said.
Published 16 Sep, 2004 12:00am
UK earnings growth slows, job market strong

UK earnings growth slows, job market strong

British workers' earnings grew at their slowest pace in seven months in the three months to July, showing a tight labour market is still not generating strong wage inflation.
Published 16 Sep, 2004 12:00am
'Talks on Iraq debt relief in deadlock'

'Talks on Iraq debt relief in deadlock'

International negotiations on debt relief for Iraq are in deadlock, a German official said on Wednesday, while another official said Germany would probably have to write off more than half of its $5.3 billion credits to Iraq.
Published 16 Sep, 2004 12:00am
Russia warns BP and YUKOS it can revoke oil licences

Russia warns BP and YUKOS it can revoke oil licences

Russia warned on Wednesday that production licences of foreign and domestic oil companies can be torn up at will if the nation's fabulous natural wealth is not exploited on Moscow's terms.
Published 16 Sep, 2004 12:00am
Kerry targets Bush economic policy as 'fiscal mess'

Kerry targets Bush economic policy as 'fiscal mess'

Senator John Kerry said on Wednesday the United States needs to make the "right choices" on the economy, and faulted US President George W. Bush for blaming others and offering excuses for the White House's own failed economic policies.
Published 16 Sep, 2004 12:00am
IMF to boost monitoring of energy trading

IMF to boost monitoring of energy trading

The International Monetary Fund said on Wednesday it would increase its monitoring of energy trading and related market developments as more banks and hedge funds enter the energy markets.
Published 16 Sep, 2004 12:00am
China and Asean aim to set up free trade area in 2005

China and Asean aim to set up free trade area in 2005

Six Southeast Asian countries and China expect to start a free trade area next year and to slash tariffs on all but the most sensitive goods by 2010, a senior negotiator said on Wednesday.
Published 16 Sep, 2004 12:00am
World economic growth seen slowing in 2005: Fitch

World economic growth seen slowing in 2005: Fitch

World economic growth will probably quicken to 3.9 percent this year from 2.7 percent last year but slow again in 2005 as US interest rate hikes bite and high oil prices may crimp activity, Fitch Ratings said on Wednesday.
Published 16 Sep, 2004 12:00am
Coca-Cola warns of weak profits

Coca-Cola warns of weak profits

Shares of Coca-Cola slumped to a 52-week low Wednesday after the soft-drink giant warned that bad weather in Europe and weak sales in North America would puncture its previous 2004 profit hopes.
Published 16 Sep, 2004 12:00am
Coca-Cola warns of weak profits

Coca-Cola warns of weak profits

Shares of Coca-Cola slumped to a 52-week low Wednesday after the soft-drink giant warned that bad weather in Europe and weak sales in North America would puncture its previous 2004 profit hopes.
Published 16 Sep, 2004 12:00am
US industrial output growth nearly stalled in August

US industrial output growth nearly stalled in August

US industrial output growth nearly stalled last month as production cuts at mines and utilities nearly swamped a strong performance at factories, a report from the Federal Reserve showed on Wednesday.
Published 16 Sep, 2004 12:00am
Opec lifts oil quotas to suppress crude price

Opec lifts oil quotas to suppress crude price

Opec on Wednesday lifted oil supply quotas by one million barrels a day, four percent, in a renewed bid to force down stubbornly high world crude prices. The pact is designed to underscore the Organisation of the Petroleum Exporting Countries' intent to e
Published 16 Sep, 2004 12:00am
Opec lifts oil quotas to suppress crude price

Opec lifts oil quotas to suppress crude price

Opec on Wednesday lifted oil supply quotas by one million barrels a day, four percent, in a renewed bid to force down stubbornly high world crude prices. The pact is designed to underscore the Organisation of the Petroleum Exporting Countries' intent to e
Published 16 Sep, 2004 12:00am
13 US firms attend Libya's energy fair

13 US firms attend Libya's energy fair

About 150 oil and gas firms from some 30 countries, including 13 US companies, are attending an international energy conference this week in Tripoli in another sign Libya is moving fast toward ending its international isolation, government officials said
Published 16 Sep, 2004 12:00am
US to press EU for deal ending aircraft subsidies

US to press EU for deal ending aircraft subsidies

The United States will press the European Union to negotiate a new civil aircraft agreement that would put a stop to subsidies for rivals Airbus and Boeing in the future, a senior US official said on Wednesday.
Published 16 Sep, 2004 12:00am
Afghan GDP growing fast but risks inflation rise

Afghan GDP growing fast but risks inflation rise

Afghanistan's economy will maintain its robust growth this year but security, better roads and lower oil prices are needed to keep a lid on inflation, the Governor of the Central Bank of Afghanistan said on Wednesday.
Published 16 Sep, 2004 12:00am
US Treasuries jump as rate uncertainties linger

US Treasuries jump as rate uncertainties linger

US Treasury prices ended higher on Tuesday after soft August retail sales and a record high current account deficit kept dealers focused on the possibility of a slower pace of official interest rate hikes.
Published 16 Sep, 2004 12:00am
US Treasuries jump as rate uncertainties linger

US Treasuries jump as rate uncertainties linger

US Treasury prices ended higher on Tuesday after soft August retail sales and a record high current account deficit kept dealers focused on the possibility of a slower pace of official interest rate hikes.
Published 16 Sep, 2004 12:00am
Jakarta stocks surge despite profit taking

Jakarta stocks surge despite profit taking

Jakarta shares finished higher on Wednesday as optimism ahead of the second round presidential election fueled the increase, but the close was well off the intraday high.
Published 16 Sep, 2004 12:00am
Singapore share index breaks 2,000-point

Singapore share index breaks 2,000-point

Singapore's key share index broke above the 2,000-point threshold on Wednesday to a 45-month high, but analysts said prospects of more gains were clouded by doubts over pace of economic growth at home and abroad.
Published 16 Sep, 2004 12:00am
US stocks close flat; oil, hurricane spark concern

US stocks close flat; oil, hurricane spark concern

US stocks ended barely higher on Tuesday as oil prices rose and investors tried to anticipate the economic fallout from Hurricane Ivan as it moved through the Gulf of Mexico toward a possible landfall in the United States.
Published 16 Sep, 2004 12:00am
Seoul shares end almost flat

Seoul shares end almost flat

Seoul stocks closed almost flat on Wednesday, as hefty foreign selling hit market leader Samsung Electronics and Kookmin Bank, wiping out strong gains in steelmakers driven by optimism over better earnings from China.
Published 16 Sep, 2004 12:00am
Thai stocks at two-month high

Thai stocks at two-month high

Thai stocks closed at a two-month high on Wednesday as investors bought shares in financial companies and the market debut of a steel pipe maker boosted trade.
Published 16 Sep, 2004 12:00am
Malaysian shares tumble

Malaysian shares tumble

Malaysian shares ended lower for the second consecutive day on Wednesday, with the key index down 0.4 percent after investors were disappointed by Anwar Ibrahim's failure in his final bid to lift a political ban.
Published 16 Sep, 2004 12:00am
Philippines stocks plunge

Philippines stocks plunge

Philippines stocks fell on Wednesday as profit-taking continued in select blue chips such as second-ranked phone firm Globe Telecom Inc and conglomerate Ayala Corp after the market's recent 9-day rally.
Published 16 Sep, 2004 12:00am
Hong Kong stocks drop, property slips

Hong Kong stocks drop, property slips

Hong Kong's top share index fell 0.48 percent on Wednesday after rising for four consecutive sessions, with property stocks succumbing to profit-taking after recent gains on a robust sector outlook.
Published 16 Sep, 2004 12:00am
Tokyo stocks decline as techs and telecoms fall

Tokyo stocks decline as techs and telecoms fall

Tokyo's Nikkei average fell 1.21 percent on Wednesday as investors took a breather after the market's recent rises and sold shares of gainers including tech issues such as Canon Inc.
Published 16 Sep, 2004 12:00am
Sri Lankan stocks soar

Sri Lankan stocks soar

Sri Lankan stocks rose on Wednesday, led by hotel company shares, with investors upbeat about the chances of renewed peace talks between the government and Tamil Tiger rebels to consolidate a two-year truce, brokers said.
Published 16 Sep, 2004 12:00am
Chinese yuan notches weaker

Chinese yuan notches weaker

The yuan ended one notch weaker at 8.2768 per US dollar on Wednesday, near the stronger end of its managed trading range. The one-year non-deliverable dollar forward discount versus the yuan was at 2,650 points implying a rate of 8.013 yuan per dollar in
Published 16 Sep, 2004 12:00am
Swiss franc gains

Swiss franc gains

The Swiss franc gained on the US dollar in early European trade on Wednesday, ahead of a Swiss rate decision and after data showed the US current account deficit ballooned to a new record in the second quarter.
Published 16 Sep, 2004 12:00am
Indian rupee off highs but holds two-month high

Indian rupee off highs but holds two-month high

The Indian rupee gave up strong gains by Wednesday evening but still managed to close at a fresh two-month high with underlying sentiment upbeat on a weak greenback.
Published 16 Sep, 2004 12:00am
Dollar stalls as focus shifts to Fed statement

Dollar stalls as focus shifts to Fed statement

The dollar stalled on Wednesday after weaker-than-expected US economic data failed to provide new direction for the market and focus shifted to what the Federal Reserve would say after an expected rate rise next week.
Published 16 Sep, 2004 12:00am
Asian currencies stall at multi-month peaks

Asian currencies stall at multi-month peaks

The Indian rupee, Indonesian rupiah and other Southeast Asian currencies stalled after hitting multi-month peaks on Wednesday as markets booked profits and pondered how much currency appreciation authorities would tolerate.
Published 16 Sep, 2004 12:00am
Hong Kong dollar trims gains on profit-taking

Hong Kong dollar trims gains on profit-taking

The Hong Kong dollar retreated from morning highs and discounts on forwards pulled off lows late on Wednesday, as some players booked profits after choppy trade and as local stocks fell.
Published 16 Sep, 2004 12:00am
Indian Muslim bodies issue Fatwas against foetus sex tests

Indian Muslim bodies issue Fatwas against foetus sex tests

Two Islamic organisations in India have issued edicts against sex determination tests and the killing of female foetuses. The edicts, or fatwas, came after a census showed a skewed gender balance which experts said was because of the widespread aborting o
Published 16 Sep, 2004 12:00am
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