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Print - 2004-10-02
Soyabeans lower on US harvest, wheat losses

Soyabeans lower on US harvest, wheat losses

Chicago Board of Trade soyabean futures ended lower on Thursday on US harvest pressure and following losses in neighbouring wheat futures, brokers said.
Published 02 Oct, 2004 12:00am
Indonesia targets higher grains output next year

Indonesia targets higher grains output next year

Indonesia has targeted increased production of rice, corn and soy next year, helped by larger areas under cultivation and higher yields, a government official said on Friday.
Published 02 Oct, 2004 12:00am
Thai rubber futures end mixed in thin trade

Thai rubber futures end mixed in thin trade

Thai rubber futures ended mixed on Friday in thin trade as most investors were on the sidelines waiting for a clearer market direction, brokers said.
Published 02 Oct, 2004 12:00am
Malaysian palm oil climbs

Malaysian palm oil climbs

Malaysian crude palm oil futures closed over 1 percent up on Friday in a rally driven by speculators, who defied initial expectations of a drop in prices.
Published 02 Oct, 2004 12:00am
South Korea posts $2.8 billion trade surplus

South Korea posts $2.8 billion trade surplus

South Korea posted a trade surplus of 2.82 billion dollars in September, helped by brisk exports which rose 23.5 percent year-on-year, officials said Friday.
Published 02 Oct, 2004 12:00am
UK's Warner Chilcott gets second bid approach

UK's Warner Chilcott gets second bid approach

Northern Irish drug maker Warner Chilcott Plc said on Friday it had received a bid approach from a second party, raising the prospect of a 1.5 billion-pound ($2.70 billion) take-over battle.
Published 02 Oct, 2004 12:00am
UK's Warner Chilcott gets second bid approach

UK's Warner Chilcott gets second bid approach

Northern Irish drug maker Warner Chilcott Plc said on Friday it had received a bid approach from a second party, raising the prospect of a 1.5 billion-pound ($2.70 billion) take-over battle.
Published 02 Oct, 2004 12:00am
South Korea's biggest lender to post huge profit: president

South Korea's biggest lender to post huge profit: president

Kookmin Bank, South Korea's biggest retail bank, is expected to post a handsome profit for the third quarter to September despite the fallout from its accounting scandal, its outgoing president said Friday.
Published 02 Oct, 2004 12:00am
South Korea's biggest lender to post huge profit: president

South Korea's biggest lender to post huge profit: president

Kookmin Bank, South Korea's biggest retail bank, is expected to post a handsome profit for the third quarter to September despite the fallout from its accounting scandal, its outgoing president said Friday.
Published 02 Oct, 2004 12:00am
Britain's Labour government hikes workers' minimum wage

Britain's Labour government hikes workers' minimum wage

Up to an estimated two million workers in Britain were expected to gain financially as minimum wage rates introduced by Prime Minister Tony Blair's Labour government rose eight percent on Friday.
Published 02 Oct, 2004 12:00am
ANZ Bank faces 232 million dollar New Zealand tax bill

ANZ Bank faces 232 million dollar New Zealand tax bill

One of the largest banking groups in New Zealand said Friday it could face a tax bill of up to 232 million dollars (154 million US dollars) for transactions undertaken in the financial years 2000-2003.
Published 02 Oct, 2004 12:00am
China's West to East pipeline carries first gas to Shanghai

China's West to East pipeline carries first gas to Shanghai

The eastern economic hub of Shanghai received its first deliveries of gas from China's newly opened East to West pipeline that runs some 4,000 kilometres (2,400 miles) from the Xinjiang Uighur autonomous region, state press reported Friday.
Published 02 Oct, 2004 12:00am
US Airways, pilots union reach tentative pact

US Airways, pilots union reach tentative pact

US Airways Group Inc said on Friday it reached a tentative agreement with its pilots union that would save $300 million annually and move the bankrupt airline closer to carrying out a transformation plan.
Published 02 Oct, 2004 12:00am
PeopleSoft ousts CEO amid battle with Oracle

PeopleSoft ousts CEO amid battle with Oracle

PeopleSoft Inc on Friday said its board had ousted President and Chief Executive Craig Conway, who has been the chief opponent of Oracle Corp's $7.7 billion hostile bid to take over the software company.
Published 02 Oct, 2004 12:00am
Fishermen block ports in France over oil prices

Fishermen block ports in France over oil prices

Fishermen angry at skyrocketing oil prices on Friday blocked ports in north and north-west France including Calais, Le Havre and Boulogne-sur-Mer, disrupting cross-Channel ferry traffic for hours.
Published 02 Oct, 2004 12:00am
Japanese business sentiment at 13-year high

Japanese business sentiment at 13-year high

Japanese most closely watched business barometer rose to its highest in 13 years in September but the outlook for the coming months dimmed, underscoring concern that an economic recovery is losing steam.
Published 02 Oct, 2004 12:00am
German retail sales post thin gains

German retail sales post thin gains

German retail sales rose unexpectedly in August from July as a new method of calculation wrong-footed some forecasters, but analysts cautioned the figure might be revised and did not signal a turnaround for the sector.
Published 02 Oct, 2004 12:00am
EU strikes accounting deal, misses transparency goal

EU strikes accounting deal, misses transparency goal

EU governments missed the goal of introducing fully comparable accounting standards in 2005 by endorsing a compromise on Friday that will allow banks to choose between slightly different bookkeeping rules.
Published 02 Oct, 2004 12:00am
General Motors and Ford raise US sales incentives

General Motors and Ford raise US sales incentives

General Motors Corp and Ford Motor Co launched new US sales incentives on Friday as both auto-makers struggle with falling market share and high inventories of unsold vehicles.
Published 02 Oct, 2004 12:00am
Microsoft fights to keep integral media player

Microsoft fights to keep integral media player

Microsoft Corp will gain "life-and-death power" over media formats used in everything from cell-phones to computers unless EU sanctions take effect quickly, an industry lawyer argued on Friday.
Published 02 Oct, 2004 12:00am
Insurance industry tries to take out the risk

Insurance industry tries to take out the risk

Insurance chiefs' calls for the industry to keep prices high rather than go for volume have been met with scepticism by analysts, who expect the damaging boom-and-bust cycles that have ruled the sector for years will continue.
Published 02 Oct, 2004 12:00am
IMF extends HIPC debt relief scheme

IMF extends HIPC debt relief scheme

The International Monetary Fund agreed to extend the global debt relief program for poor countries by two years to 2006, the global lender said late on Thursday.
Published 02 Oct, 2004 12:00am
China vows to move toward flexible exchange rate

China vows to move toward flexible exchange rate

China pledged to move toward a flexible exchange rate, the US Treasury Department said Friday, hours ahead of a key meeting of the world's top finance chiefs who are expected to press Beijing to ease its currency policies.
Published 02 Oct, 2004 12:00am
US supports China's bid to join IADB

US supports China's bid to join IADB

China has won the United States' blessing for its long-standing effort to become a member of the Inter-American Development Bank, the two countries said on Friday in a joint statement.
Published 02 Oct, 2004 12:00am
US factory, construction data remain strong

US factory, construction data remain strong

US factory growth stayed strong in September while construction spending the prior month hit a record high for a seventh straight month, according to two reports on Friday, showing the economy's expansion remains solid.
Published 02 Oct, 2004 12:00am
Thai stocks finish higher

Thai stocks finish higher

Thailand's main stock index ended at a one-week high on Friday on the back of foreign buying in big cap energy, petrochemical and telecoms stocks as easing oil prices lifted the mood, dealers said.
Published 02 Oct, 2004 12:00am
Philippines stocks close higher

Philippines stocks close higher

Philippines stocks led by number one phone firm PLDT and second-ranked Globe Telecom Inc rose on Friday to their highest level this year on expectations of strong corporate earnings.
Published 02 Oct, 2004 12:00am
Most US Treasuries slip

Most US Treasuries slip

Most Treasuries prices slipped on Thursday after firm data on US consumer spending and regional manufacturing dented hopes the Federal Reserve might soon slow the pace of its rate hikes.
Published 02 Oct, 2004 12:00am
Most US Treasuries slip

Most US Treasuries slip

Most Treasuries prices slipped on Thursday after firm data on US consumer spending and regional manufacturing dented hopes the Federal Reserve might soon slow the pace of its rate hikes.
Published 02 Oct, 2004 12:00am
US Dow knocked lower by Merck's drug recall

US Dow knocked lower by Merck's drug recall

Drug maker Merck & Co Inc dominated trading in the US stocks on Thursday, single-handedly driving the 30-stock Dow Jones average lower after it withdrew its arthritis drug Vioxx because a study showed it doubled the risk of heart attack and stroke.
Published 02 Oct, 2004 12:00am
Singapore stocks down

Singapore stocks down

Singapore shares closed weaker on Friday as investors locked in profits after the market's strong run over the past three months and amid caution ahead of the start of the corporate results season.
Published 02 Oct, 2004 12:00am
Sri Lankan stocks nudge lower

Sri Lankan stocks nudge lower

Sri Lanka stocks fell slightly in thin volume trade on Friday as retailers skimmed profits on small counters after recent gains, but there was renewed foreign interest in some blue chips, brokers said.
Published 02 Oct, 2004 12:00am
Taiwan stocks up; rate rise sparks broad gains

Taiwan stocks up; rate rise sparks broad gains

Taiwan stocks gained 1.7 percent on Friday as financial shares like Cathay Financial Holdings touched off a broad advance after the central bank raised rates that exceeded market expectations.
Published 02 Oct, 2004 12:00am
Tokyo stocks start second half higher

Tokyo stocks start second half higher

The Nikkei average closed up 1.49 percent on Friday, the first day of the fiscal second half, as a strong reading in the Bank of Japan's "tankan" business survey prompted investors at home and abroad to jump into the market.
Published 02 Oct, 2004 12:00am
Chinese markets shut for National Day

Chinese markets shut for National Day

China's stock and foreign exchange markets and Shanghai's futures exchange will be closed from October 1 until October 7 for the week-long National Day break.
Published 02 Oct, 2004 12:00am
Swiss franc firmer ahead of G7 meeting

Swiss franc firmer ahead of G7 meeting

The Swiss franc clung to six-week highs against the dollar in early Friday trading in Europe as traders adopted a cautious stance ahead of a key G7 meeting.
Published 02 Oct, 2004 12:00am
Dollar drops to two-month low versus euro

Dollar drops to two-month low versus euro

The dollar dropped on Thursday to its lowest level against the euro since mid-July and suffered steep losses against other currencies after a breach of key chart levels unleashed a wave of selling, traders said.
Published 02 Oct, 2004 12:00am
Asian currencies up on regional stock markets, G7 watch

Asian currencies up on regional stock markets, G7 watch

Asian currencies gained on Friday on strength in regional stock markets and supported by a survey showing an improvement in Japanese business sentiment that briefly helped the yen, but high oil prices kept gains in check.
Published 02 Oct, 2004 12:00am
Indian wholesale inflation eases to 7.80 percent

Indian wholesale inflation eases to 7.80 percent

Indian wholesale price inflation rose 7.80 percent in the year to September 18, easing slightly from the week earlier due to lower food prices, government figures showed on Friday.
Published 02 Oct, 2004 12:00am
Australian dollar stays close to 10-week high

Australian dollar stays close to 10-week high

The Australian dollar held close to its offshore 10-week high on Friday, taking weak economic data in its stride, as the US dollar took a cautious stance ahead of this weekend's G7 meeting.
Published 02 Oct, 2004 12:00am
Sports management giant IMG sold to investment firm

Sports management giant IMG sold to investment firm

IMG, the sports and celebrity management group that represents such star names as Tiger Woods, Michael Schumacher and Elizabeth Hurley has been sold, it announced on Thursday.
Published 02 Oct, 2004 12:00am
Canas books semi-finals spot in Shanghai Open

Canas books semi-finals spot in Shanghai Open

Argentinean Guillermo Canas needed only two sets on Friday to oust seventh seeded Brazilian Ricardo Mello and book a spot in the semi-finals of the 380,000-dollar ATP Shanghai Open.
Published 02 Oct, 2004 12:00am
Zee court appeal deepens India cricket telecast row

Zee court appeal deepens India cricket telecast row

India's Zee Telefilms Ltd appealed to the Supreme Court on Friday against a cricket board decision to ask two rival channels to broadcast the home Test series against Australia, its lawyer said.
Published 02 Oct, 2004 12:00am
Federer in command as tenth title of the season beckons

Federer in command as tenth title of the season beckons

Roger Federer edged closer to a dream tenth title of the season as he applied the pressure at just the right moments, defeating Robin Soderling 7-6 (7-3), 6-4 for a spot in the semi-finals of the 550,000-dollar Thailand Open on Friday.
Published 02 Oct, 2004 12:00am
Candidates omit Israel-Palestinian from US debate

Candidates omit Israel-Palestinian from US debate

Many important foreign policy topics went unexplored during the first debate of the 2004 US presidential campaign but perhaps most unusual was the lack of attention to the Israeli-Palestinian conflict.
Published 02 Oct, 2004 12:00am
Next US president could get to reshape high court

Next US president could get to reshape high court

The winner of the US presidential election could reshape the Supreme Court and could have a long-lasting impact on important issues such as abortion, gay marriages and church-state separation.
Published 02 Oct, 2004 12:00am
Britain's Conservatives in wilderness after poll rout

Britain's Conservatives in wilderness after poll rout

A humiliating poll defeat has left Britain's opposition Conservatives floundering only eight months before an election and, analysts say, may prompt them to shift towards the right in a bid to recover.
Published 02 Oct, 2004 12:00am
Iraq mobile network brings benefits and bombs

Iraq mobile network brings benefits and bombs

Iraqis hail their mobile phone network as one of the few achievements in the country's reconstruction, but the technology is also being used to detonate bombs that cause daily death and destruction.
Published 02 Oct, 2004 12:00am
Blair recovers from heart operation

Blair recovers from heart operation

British Prime Minister Tony Blair was recovering Friday from surgery to correct an irregular heartbeat, a day after revealing that he intends to serve a full third term if re-elected.
Published 02 Oct, 2004 12:00am
New Indonesian parliament takes oath

New Indonesian parliament takes oath

Indonesia moved closer to full democracy Friday, swearing in legislators elected in landmark polls to a newly-reformed parliament free from military representation.
Published 02 Oct, 2004 12:00am
US deploys destroyers near North Korea

US deploys destroyers near North Korea

US destroyers equipped with Aegis missile tracking systems have been deployed in the Sea of Japan near North Korea as part of a missile defence system that Washington intends to declare operational this year, the Navy's civilian chief said Friday.
Published 02 Oct, 2004 12:00am
Former Pentagon official sentenced

Former Pentagon official sentenced

Darleen Druyun, a former Air Force official charged in a deal that allowed her to get a job with Boeing after overseeing a controversial deal on tanker planes, was sentenced Friday to nine months in prison, officials said.
Published 02 Oct, 2004 12:00am
Sudan agrees to 3,500 extra AU troops

Sudan agrees to 3,500 extra AU troops

Sudan has agreed in principle to an African Union (AU) proposal to deploy a force of more than 3,000 troops to stop atrocities in the troubled Darfur region, the pan-African body said on Friday.
Published 02 Oct, 2004 12:00am
Turkey is no Muslim state, says secular president

Turkey is no Muslim state, says secular president

Turkey's staunchly secularist president on Friday rejected Washington's promotion of his country as a model Muslim democracy serving as a bridge and example to the wider Islamic world.
Published 02 Oct, 2004 12:00am
Lebanon car bomb wounds former minister, kills driver

Lebanon car bomb wounds former minister, kills driver

A remote-control Beirut car bomb wounded a prominent Lebanese opposition politician and killed his driver on Friday, weeks after the former minister quit the government to protest Syria's grip on Lebanon.
Published 02 Oct, 2004 12:00am
Nigerian oil delta talks salvaged by troop recall

Nigerian oil delta talks salvaged by troop recall

Talks aimed at averting an explosion of fighting in Nigeria's oil production hub were salvaged on Friday when the government called off gunships and helicopters sent to attack rebel militia.
Published 02 Oct, 2004 12:00am
Nato raises Afghan force to 9,000

Nato raises Afghan force to 9,000

Nato added final reinforcements on Friday to its Afghan security force as part of international efforts to safeguard the landmark October 9 presidential election from escalating violence.
Published 02 Oct, 2004 12:00am
Bush and Kerry clash on Iraq in presidential debate

Bush and Kerry clash on Iraq in presidential debate

Senator John Kerry charged late Thursday that President George W. Bush committed "a colossal error" by invading Iraq, as they clashed in a high-stakes debate that may decide their battle for the White House.
Published 02 Oct, 2004 12:00am
Indian shares at five-month high

Indian shares at five-month high

Indian shares rallied on Friday to a five-month high on expectations of strong corporate earnings in an economy, which grew 7.4 percent in the year to April-June.
Published 02 Oct, 2004 12:00am
US Stocks: Friday's unofficial close

US Stocks: Friday's unofficial close

Stocks rose on Friday amid heavy trading on the first day of the quarter as PeopleSoft Inc and chip-related stocks boosted the tech-heavy Nasdaq to its highest level in more than two months.
Published 02 Oct, 2004 12:00am
Euro auto bonds improve ahead of sales data

Euro auto bonds improve ahead of sales data

Euro denominated bonds of US car makers General Motors and Ford traded higher in value on Friday, albeit in thin volumes, with traders looking forward to September US auto sales data later in the day.
Published 02 Oct, 2004 12:00am
Euro auto bonds improve ahead of sales data

Euro auto bonds improve ahead of sales data

Euro denominated bonds of US car makers General Motors and Ford traded higher in value on Friday, albeit in thin volumes, with traders looking forward to September US auto sales data later in the day.
Published 02 Oct, 2004 12:00am
South Korean shares rise

South Korean shares rise

Seoul shares rose more than one percent on Friday as investors shrugged off concerns about high oil prices and snapped up market leader Samsung Electronics and other blue chips following recent declines in their prices.
Published 02 Oct, 2004 12:00am
FTSE-100 starts quarter with rally to 27-month high

FTSE-100 starts quarter with rally to 27-month high

British shares staged their biggest rally since April 2003 on Friday, touching a 27-month high on the first day of the quarter as investors stocked up in anticipation of a strong run through year-end.
Published 02 Oct, 2004 12:00am
Indian rupee at one-week closing high

Indian rupee at one-week closing high

The Indian rupee rallied smartly to end Friday at a one-week closing high, helped by dollar weakness overseas and bunched-up greenback inflows after a day's break due to the half-year account closing.
Published 02 Oct, 2004 12:00am
Sterling hits eight-month lows

Sterling hits eight-month lows

Sterling fell sharply to eight-month lows against the euro and versus a basket of currencies on Friday on uncertainty about Britain's interest rate and political outlook.
Published 02 Oct, 2004 12:00am
Dollar bides time before G7

Dollar bides time before G7

The dollar recovered from a two-month low on the euro and a one-week low on the yen on Friday, looking for upbeat US manufacturing data later but wary of any currency fireworks from a Group of Seven meeting.
Published 02 Oct, 2004 12:00am
Oil holds above $49 on Nigeria concerns, G7 worries

Oil holds above $49 on Nigeria concerns, G7 worries

Oil prices held steady above $49 on Friday as market unease persisted over supply security in Nigeria, despite peace talks, while the world's richest nations suggested oil resources were scarcer than first thought.
Published 02 Oct, 2004 12:00am
London coffee ends down

London coffee ends down

London robusta coffee futures fell towards contract lows on origin and fund selling on Friday as conviction grew that weather forecasts in Brazil are improving, traders said.
Published 02 Oct, 2004 12:00am
London cocoa ends mostly flat

London cocoa ends mostly flat

London's cocoa market was reluctant to break into new territory on Friday as prices continued to drift a few pounds either side of unchanged in its familiar narrow band.
Published 02 Oct, 2004 12:00am
London sugar mixed

London sugar mixed

London white sugar futures closed mixed on Friday as speculators took profits, and traders said they remained bullish on prices amid expectations of tightening supplies into next year.
Published 02 Oct, 2004 12:00am
World oil ends above $50 on Nigeria fears

World oil ends above $50 on Nigeria fears

Oil prices ended above the $50-a-barrel mark on Friday amid concern over possible conflict in Nigeria's oil-producing delta region, where a two-day truce between rebel militia and government forces is holding. US light crude settled at $50.12 a barrel, up
Published 02 Oct, 2004 12:00am
World oil ends above $50 on Nigeria fears

World oil ends above $50 on Nigeria fears

Oil prices ended above the $50-a-barrel mark on Friday amid concern over possible conflict in Nigeria's oil-producing delta region, where a two-day truce between rebel militia and government forces is holding. US light crude settled at $50.12 a barrel, up
Published 02 Oct, 2004 12:00am
EU's barley refunds welcomed

EU's barley refunds welcomed

The European grain market welcomed an EU decision to restore export refunds for barley but traders said on Friday they were surprised by the timing and unsure whether it foreshadowed similar moves for wheat exports.
Published 02 Oct, 2004 12:00am
New York cotton drifts to higher close

New York cotton drifts to higher close

NYBOT cotton futures finished firmer Friday as the market stayed in a tight band as poor harvest weather in parts of the US cotton belt failed to provide a spark, analysts said.
Published 02 Oct, 2004 12:00am
Platinum market keeps cool as strike hits South Africa

Platinum market keeps cool as strike hits South Africa

Strikes against the world's two biggest platinum producers in South Africa are likely to be short-lived, but a market squeeze could develop if they extend longer than a week or two, analysts said on Friday.
Published 02 Oct, 2004 12:00am
LME base metals end lower

LME base metals end lower

Base metals were mostly lower at the end of Friday's London Metal Exchange (LME) open outcry session, but most dragged themselves off earlier lows as aggressive selling subsided.
Published 02 Oct, 2004 12:00am
Gold eases from highs in European trade

Gold eases from highs in European trade

Gold eased back in Europe on Friday as the market paused after funds had fanned prices to fresh 5-1/2 month peaks, with dealers eyeing the dollar/euro for further direction.
Published 02 Oct, 2004 12:00am
US MIDDAY: coffee down on fund and origin selling

US MIDDAY: coffee down on fund and origin selling

Arabica coffee futures fell more than 2 percent Friday, with speculative selling spurred by fund and origin selling in London's robusta market and wet weather in Brazil, traders and analysts said.
Published 02 Oct, 2004 12:00am
US MIDDAY: cocoa mixed in range-bound trading

US MIDDAY: cocoa mixed in range-bound trading

Cocoa futures ended little changed in choppy, range-bound trading Friday, with a delay in Ivory Coast's main crop season offering little fodder for market participants to feed on, traders said.
Published 02 Oct, 2004 12:00am
US MIDDAY: sugar lower on speculators cashed profits

US MIDDAY: sugar lower on speculators cashed profits

NYBOT raw sugar futures finished lower Friday as speculators cashed in their profits after running the sweetener up a 19-month peak, although players said bullish fundamentals should keep values buoyant.
Published 02 Oct, 2004 12:00am
US MIDDAY: wheat turns weak on spill-over pressure

US MIDDAY: wheat turns weak on spill-over pressure

Soft red winter wheat futures at the Chicago Board of Trade turned quietly lower early on Friday amid quiet exports and on spill-over pressure from the sharp declines posted on Thursday, traders said.
Published 02 Oct, 2004 12:00am
US MIDDAY: corn firmer on mild short-covering

US MIDDAY: corn firmer on mild short-covering

Corn futures at the Chicago Board of Trade were firm early Friday on a mild short-covering bounce after the market dipped to contract lows the day before, trader said.
Published 02 Oct, 2004 12:00am
US MIDDAY: soya higher on speculative short-covering

US MIDDAY: soya higher on speculative short-covering

Chicago Board of Trade soyabean futures firmed on Friday on forecasts for potential crop-damaging cold this weekend and speculative short-covering, but gains were limited by harvest pressure, brokers said.
Published 02 Oct, 2004 12:00am