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Print - 2004-11-13
Holiday mood prevails on cotton market

Holiday mood prevails on cotton market

Holiday mood prevailed in cotton market on Friday as leading buyers were out of the ring mainly because of Divali and ahead long week-end, dealers said. The official spot rate was unchanged for the third day at Rs 1920, without upcountry expenses.
Published 13 Nov, 2004 12:00am
US Plains HRW wheat bids weaker

US Plains HRW wheat bids weaker

Basis bids were steady to weaker Friday as merchants adjusted for a lull in demand. Basis levels were 2 cents weaker in Hutchinson, Kansas, 6 cents weaker in Salina, Kansas, and 2 cents weaker in Wellington, Kansas. Protein premiums were unchanged.
Published 13 Nov, 2004 12:00am
Chemicals up on Jodia Bazar

Chemicals up on Jodia Bazar

The trading on chemical sector move upward in Jodia Bazar on Friday (November 12, 2004).
Published 13 Nov, 2004 12:00am
Comex copper gains as buyers hunted bargains

Comex copper gains as buyers hunted bargains

Comex copper futures ended firmer on Thursday, reversing the previous day's losses as buyers took advantage of the lows carved out when participants sold the red metal ahead of the Federal Reserve's interest rate increase on Wednesday. On Thursday, many p
Published 13 Nov, 2004 12:00am
Tokyo gold eases, still near one-month high

Tokyo gold eases, still near one-month high

Tokyo gold futures closed a touch easier on Friday after the yen resumed its rise against the dollar, but the precious metal continued to hover at a one-month high, supported by steady bullion prices. Platinum futures in Tokyo climbed to a 2-1/2-week high
Published 13 Nov, 2004 12:00am
New York gold closes higher, consolidating gains

New York gold closes higher, consolidating gains

US gold futures closed up slightly but below the prior 16-year peak on Thursday, as investor interest was dulled by a steady dollar in holiday thinned trade, dealers said. December gold on the New York Mercantile Exchange's Comex division finished at $435
Published 13 Nov, 2004 12:00am
Platinum at six-week high in Asia, gold steady

Platinum at six-week high in Asia, gold steady

Gold hovered just below a 16-year high in Asian trading on Friday as platinum hit a six-week high ahead of a key report that is expected to lower its forecast for a platinum surplus. Spot gold was at $435.00/435.75 an ounce, against $434.35/435.10 late in
Published 13 Nov, 2004 12:00am
South Korea keeps US beef ban

South Korea keeps US beef ban

South Korea will continue to ban the import of US beef and poultry, but will start importing US oranges by the end of the year or 2005, the foreign ministry said on Friday. South Korea bought more than $700 million worth annually of US beef until the firs
Published 13 Nov, 2004 12:00am
Oil edges up toward $48, wary over winter weather

Oil edges up toward $48, wary over winter weather

Oil prices edged up toward $48 a barrel on Friday as worries that or severe winter could stress low winter fuel stocks helped staunch the market's $8 tumble from record highs. US light, sweet crude was up 28 cents at $47.70 a barrel, attempting to end a s
Published 13 Nov, 2004 12:00am
LME copper easier but supported by tight stocks

LME copper easier but supported by tight stocks

London Metal Exchange (LME) copper futures fell slightly in Asia on Friday, but were firmly supported by tight supply conditions that drew bargain-hunting from fund operators. Copper also gained support on talk that the Chinese government was looking to i
Published 13 Nov, 2004 12:00am
Russia ups grain, flour imports in September

Russia ups grain, flour imports in September

Russia kept increasing grain and flour imports in July-September this year. Wheat imports nearly doubled in September to 173,400 tonnes from 94,300 tonnes in August and 58,300 tonnes in July. Last season wheat imports dropped to 4,990 tonnes in September
Published 13 Nov, 2004 12:00am
Speculative buying nudges New York sugar to firm close

Speculative buying nudges New York sugar to firm close

Raw sugar futures settled fractionally higher on Thursday on buying by small speculators in lethargic trade, with the sweetener seen staying in a trading band over the next few sessions, brokers said. The New York Board of Trade's key March raw sugar cont
Published 13 Nov, 2004 12:00am
Soya lower on cash movement and positioning

Soya lower on cash movement and positioning

Soyabean futures at the Chicago Board of Trade fell on Thursday, setting back after on Wednesday's rally on fears about the future of US soya production after the first case of soya rust was found in the mainland United States, traders said. The 30-cent r
Published 13 Nov, 2004 12:00am
CBOT rice closes mixed after rally

CBOT rice closes mixed after rally

Chicago Board of Trade rough rice futures closed mixed on Thursday after an technical rally when buy-stops were hit, traders said. CBOT rice futures closed 6 cents per hundred weights higher to 3 cents lower. November was up 6 cents at $7.16 and January w
Published 13 Nov, 2004 12:00am
Czarnikow sees big 2004-05 world sugar deficit

Czarnikow sees big 2004-05 world sugar deficit

Sugar merchant Czarnikow still sees a large drawdown in sugar stocks in 2004/05 but on Friday revised its forecast of the global deficit slightly lower to 4.78 million tone's from 4.85 million previously. Czarnikow's findings contrasted with forecasts of
Published 13 Nov, 2004 12:00am
Tokyo rubber falls, but supported on fund buying

Tokyo rubber falls, but supported on fund buying

Tokyo rubber futures dropped to their lowest level since late July on Friday as a steady decline in oil prices prompted technical sales, but fund operators unwinding positions helped the contracts regain some ground. Sales were also triggered after the ye
Published 13 Nov, 2004 12:00am
Sri Lankan stocks end flat, listing offset sales

Sri Lankan stocks end flat, listing offset sales

Sri Lanka stocks ended flat on Friday as small investor sales of blue chips neutralised gains on the back of an introductory listing by the island's only specialised surgical hospital, brokers said. Asiri Medical Services Ltd, a subsidiary of Asiri Hospit
Published 13 Nov, 2004 12:00am
Thai stocks close above week high

Thai stocks close above week high

Thai stocks rose nearly two percent on Friday as interest rate and earnings optimism bolstered buying of big-cap bank stocks and a drop in oil prices lifted broader market sentiment, analysts said. The benchmark Stock Exchange of Thailand composite index
Published 13 Nov, 2004 12:00am
Hong Kong shares up 1.17 percent on rate cuts and oil

Hong Kong shares up 1.17 percent on rate cuts and oil

Hong Kong stocks ended over one percent higher on Friday, with investors encouraged by interest rate cuts by most major banks and a fall in oil prices. Hong Kong's blue chip Hang Seng Index closed 1.17 percent, or 159.95 points, higher at 13,784.46. Turno
Published 13 Nov, 2004 12:00am
US stocks rally as oil drops, techs strong

US stocks rally as oil drops, techs strong

The US stocks climbed on Thursday as oil prices resumed their retreat, pushing the S&P 500 to a three-year high, boosted by gains from Microsoft Corp and online marketplace EBay Inc a sharp drop in oil prices to below $48 a barrel helped relieve concerns
Published 13 Nov, 2004 12:00am
Treasury market closed

Treasury market closed

The US treasury and bond markets remained closed on Thursday to observe Veteran's Day.
Published 13 Nov, 2004 12:00am
Treasury market closed

Treasury market closed

The US treasury and bond markets remained closed on Thursday to observe Veteran's Day.
Published 13 Nov, 2004 12:00am
Singapore shares close at four-year high

Singapore shares close at four-year high

Singapore shares ended at a new 4-year high on Friday, aided by gains in some index heavy blue chips such as Singapore Telecommunications on hopes of higher earnings from its overseas ventures. The Straits Times Index closed up 15.47 points, or 0.76 perce
Published 13 Nov, 2004 12:00am
Taiwan stocks end stronger with currency and US tech

Taiwan stocks end stronger with currency and US tech

Taiwan stocks ended with solid gains on Friday as advancing US tech shares and a firming domestic currency strengthened anticipation of continued buying by foreign investors. The TAIEX share index rose 42.64 points, or 0.73 percent, to close at 5,917.16.
Published 13 Nov, 2004 12:00am
Jakarta stocks gain on foreign buying

Jakarta stocks gain on foreign buying

Jakarta stocks extended their rallies on Friday to end at a fresh record high on foreign buying buoyed by optimism over the country's economic and corporate outlook. But dealers cautioned of profit taking to come after shares broke record highs for four s
Published 13 Nov, 2004 12:00am
Philippines stocks decline

Philippines stocks decline

Philippines stocks fell for the seventh straight session on Friday led by telecomm leader PLDT on lingering worries over a likely corporate and sovereign debt downgrade by credit rating agencies. Analysts said investors also took profits ahead of a long w
Published 13 Nov, 2004 12:00am
Seoul shares up on easing oil prices and rate cut

Seoul shares up on easing oil prices and rate cut

Seoul shares closed 1.8 percent higher on Friday, as easing oil prices, gains on Wall Street and on Thursday's interest rate cut bolstered blue chips and domestic demand-focused stocks. Market leader Samson Electronics and other blue chips also got a boos
Published 13 Nov, 2004 12:00am
Broad buying lifts Tokyo stocks despite weak GDP

Broad buying lifts Tokyo stocks despite weak GDP

Tokyo's Nikkei average jumped 1.6 percent by the close on Friday as a rally on Wall Street and lower oil prices ignited broad-based buying, with weak Japanese GDP data causing only a brief stutter at the start. Banks including Mizuho Financial Group Inc g
Published 13 Nov, 2004 12:00am
Chinese shares slide on social security funds

Chinese shares slide on social security funds

China's shares ended the down 0.18 percent as investors cashed out of blue chips that had rallied over past sessions, despite a key government urging a quicker influx of social security funds into the market. The benchmark Shanghai composite index, groupi
Published 13 Nov, 2004 12:00am
Hong Kong dollar firms on persistent yuan speculation

Hong Kong dollar firms on persistent yuan speculation

The Hong Kong dollar edged higher against a generally weak greenback on Friday amid persistent speculation of a revaluation of China's yuan currency in the near future. The local currency moved in a band between 7.7768 and 7.7817 to the US dollar througho
Published 13 Nov, 2004 12:00am
Chinese yuan ends flat

Chinese yuan ends flat

The yuan ended flat at 8.2765 per US dollar on Friday, near the stronger end of its managed trading range. The one-year non-deliverable dollar forward discount versus the yuanwas at 3,800 points implying a rate of 7.898 yuan per dollar in 12 months' time.
Published 13 Nov, 2004 12:00am
Swiss franc marginally firmer against dollar

Swiss franc marginally firmer against dollar

The Swiss franc was marginally firmer against the dollar in early trade on Friday, as the greenback gave up some of its gains made on Wednesday after the US Federal Reserve raised interest rates. The dollar last traded at 1.1760/64 francs, compared to lev
Published 13 Nov, 2004 12:00am
Yen rises versus dollar despite weak Japan data

Yen rises versus dollar despite weak Japan data

The yen advanced against the dollar on Friday, shrugging off weak third-quarter growth figures for Japan as market worries persisted about the huge US deficits. The Japanese currency rose nearly one yen from the day's low around 106.80 per dollar hit soon
Published 13 Nov, 2004 12:00am
Dollar edges lower versus euro in thin trading

Dollar edges lower versus euro in thin trading

The dollar drifted lower against the euro on Thursday amid some light profit-taking but stuck within a narrow range as most dealers stayed on the sidelines in a holiday-thinned session The US bond market and banks were closed on Thursday for Veterans Day.
Published 13 Nov, 2004 12:00am
Canadian dollar eases in light trade

Canadian dollar eases in light trade

The Canadian dollar eased against the US currency on Thursday in lethargic trading conditions, but it remained at elevated levels based on Canada's strong economic fundamentals. In a very quiet start to the North American session, the currency was at C$1.
Published 13 Nov, 2004 12:00am
Asian currencies: won and baht lead rally on China talk

Asian currencies: won and baht lead rally on China talk

The Korean won and the Thai baht outperformed on Friday as renewed declines in the US dollar, talk of a Chinese currency policy change and softer oil prices buoyed Asia's currencies. The Korean won was up half a percent at 1,105 per dollar as markets over
Published 13 Nov, 2004 12:00am
Australian dollar stays near peak supported by rate risk

Australian dollar stays near peak supported by rate risk

The Australian dollar cemented its rally above 76 US cents on Friday, winding back only slightly from a fresh offshore 7-month peak as data this week refocused the market on the risk of tighter monetary policy. The Aussie made its first move above 76 cent
Published 13 Nov, 2004 12:00am
Bank of East Asia changes tack, cuts interest rates

Bank of East Asia changes tack, cuts interest rates

Bank of East Asia, which initially left its interest rates steady, said on Friday it would now follow its peers such as HSBC and Standard Chartered Bank and cut lending rates, amid a fierce industry battle for loan business. BEA, Hong Kong's fifth-largest
Published 13 Nov, 2004 12:00am
US book award draws fire for lacking diversity

US book award draws fire for lacking diversity

The judges of America's National Book Awards are under fire for having turned their fiction category into a "Municipal Book Award" by picking as finalists five obscure women writers living in Manhattan. "It defies logic to think that five such similar boo
Published 13 Nov, 2004 12:00am
Michael Moore to make anti-Bush 'Fahrenheit' sequel

Michael Moore to make anti-Bush 'Fahrenheit' sequel

Politically-explosive US filmmaker Michael Moore is set to make a sequel to "Fahrenheit 9/11," the documentary that famously bashed President George W. Bush, an industry report said Thursday. The Oscar-winning Moore has agreed with Miramax studios' movie
Published 13 Nov, 2004 12:00am
Indonesian activist died of poisoning: investigator

Indonesian activist died of poisoning: investigator

Dutch forensic investigators have concluded a leading Indonesian human rights activist who died on a flight to Amsterdam in September was poisoned with arsenic, the prosecutor's office said on Friday. Dutch police ordered an autopsy after Munir, a vocal c
Published 13 Nov, 2004 12:00am
Japan demands Chinese apology after submarine intrusion

Japan demands Chinese apology after submarine intrusion

Japan summoned a top Chinese diplomat Friday to demand an apology for the intrusion into its waters of a nuclear submarine, which set off a two-day chase at sea amid mounting tension between the Asian powers. Japan, which had initially been careful not to
Published 13 Nov, 2004 12:00am
Russia to ban plant imports from Germany

Russia to ban plant imports from Germany

Russia plans to ban plant imports from Germany beginning on November 15, a top official told the Interfax news agency Friday. Sergei Dankvert, the head of the federal plant inspection agency Rosselkhoznadzor, said the ban would go into effect because Germ
Published 13 Nov, 2004 12:00am
Scientologists fail in bid to escape surveillance in Germany

Scientologists fail in bid to escape surveillance in Germany

A German court here has rejected an appeal from the US-based Church of Scientology, which called for an end to the surveillance of its activities by the domestic security services. The court ruled on Thursday that some of the Scientologists' activities we
Published 13 Nov, 2004 12:00am
UK set to recognise Northern Irish UDA cease-fire

UK set to recognise Northern Irish UDA cease-fire

Britain is set to signal its willingness to recognise the cease-fire of Northern Ireland's largest Protestant guerrilla group, a source said on Friday. It follows talks earlier this month between Britain's chief minister in the province, Paul Murphy, and
Published 13 Nov, 2004 12:00am
Smith confident on India tour

Smith confident on India tour

South African skipper Graeme Smith on Friday warned India not to take his team lightly during their upcoming two-Test series. Opener Gibbs and left-arm spinner Boje withdrew from the team fearing a detention by Indian police over a match-fixing scandal fo
Published 13 Nov, 2004 12:00am
Former Sri Lankan coach backs Murali

Former Sri Lankan coach backs Murali

Former Sri Lankan Test coach Bruce Yardley said on Friday he felt vindicated by the International Cricket Conference's (ICC) proposed changes to cricket's chucking law. Former Australian off-spinner Yardley, who first encouraged Muttiah Muralitharan to bo
Published 13 Nov, 2004 12:00am
Lehmann to re-live trauma of Hookes death

Lehmann to re-live trauma of Hookes death

Darren Lehmann will have to re-live the trauma of the death of former Test cricketer David Hookes just days before playing for Australia in the first Test against New Zealand in Brisbane. The 34-year-old left-handed batsman, recalled to the Australian tea
Published 13 Nov, 2004 12:00am
Mauresmo and Sharapova shine at WTA Tour Championships

Mauresmo and Sharapova shine at WTA Tour Championships

Amelie Mauresmo, chasing the world number one ranking, and Wimbledon champion Maria Sharapova signalled their intentions at the WTA Tour Championships on Thursday with sparkling straight-set victories. Sharapova, the 17-year-old Russian who shot to global
Published 13 Nov, 2004 12:00am
Legacy a key element of London's bid for 2012 Games

Legacy a key element of London's bid for 2012 Games

The legacy of a 2012 London Olympics could prove to be the city's most potent weapon in what is already an impressive arsenal. Pitted against Paris, New York, Madrid and Moscow, London has been pitched into the middle of the most heavyweight Olympic battl
Published 13 Nov, 2004 12:00am
Fleming cleared to join team

Fleming cleared to join team

New Zealand captain Stephen Fleming was Friday cleared by doctors to join his team-mates on their cricket tour of Australia, team officials said. Fleming, who has been suffering from a virus contracted during New Zealand's tour to Bangladesh last month, w
Published 13 Nov, 2004 12:00am
Butler boosts Test chances with three wickets

Butler boosts Test chances with three wickets

Ian Butler improved his chances of claiming a place as New Zealand's third paceman in next week's Test cricket match against Australia with three wickets here on Friday. The 22-year-old fast bowler, looking to improve on his eight Test appearances, was th
Published 13 Nov, 2004 12:00am
Fit-again Ganguly raring to go against Pakistan

Fit-again Ganguly raring to go against Pakistan

Indian cricket captain Sourav Ganguly on Friday said he hoped to get back to winning ways in the day-night one-dayer against Pakistan here at the Eden Gardens. "This is an important fixture for us and we hope to win," Ganguly said after being declared fit
Published 13 Nov, 2004 12:00am
Russian airport fails bomb test

Russian airport fails bomb test

Agents at an airport in the central Russian city of Perm failed to stop a woman who carried explosives aboard a commercial airliner after clearing checkpoints using a fake passport issued in Chechnya as part of an airport security test, a newspaper said F
Published 13 Nov, 2004 12:00am
UN Iran report held up as nuclear freeze talks stall

UN Iran report held up as nuclear freeze talks stall

The UN nuclear watchdog has held up a new report on inspections in Iran while Tehran and the EU's "big three" try to break a deadlock in talks aimed at freezing Iran's uranium enrichment programme, diplomats said on Friday. France, Britain and Germany had
Published 13 Nov, 2004 12:00am
Turkey signs first official deal with North Korea

Turkey signs first official deal with North Korea

Turkey on Friday signed its first official agreement - a commercial and economic co-operation deal - with North Korea, a country it recognised three years ago, a Turkish spokesman said. The deal, which aims to boost bilateral trade, was signed by the Turk
Published 13 Nov, 2004 12:00am
US ready to improve ties with Bangladesh

US ready to improve ties with Bangladesh

With the re-election of President George W. Bush, the United States is keen to improve ties with "important" countries such as Bangladesh, a senior US official said here Friday. "The president wants us to look at things that we can do to improve relations
Published 13 Nov, 2004 12:00am
Global flu pandemic: health experts urge public funding

Global flu pandemic: health experts urge public funding

Health experts and drugs companies on Friday urged rich countries to come up with public funding to spur development of a human vaccine against bird flu and a pandemic strain of the virus that could kill millions of people around the world within months.
Published 13 Nov, 2004 12:00am
Activists storm parliament in Georgian region

Activists storm parliament in Georgian region

Supporters of a candidate in a disputed presidential election in the separatist Georgian region of Abkhazia stormed government buildings on Friday, Russia's Interfax news agency reported. "What's going on can be described only seen as mass unrest," Interf
Published 13 Nov, 2004 12:00am
Iranians mark anti-Israel day, mourn Arafat

Iranians mark anti-Israel day, mourn Arafat

Tens of thousands of Iranians, some dressed as suicide-bombers, flooded the streets of Tehran on Friday, burning US and Israeli flags to mark annual anti-Israel day and mourn Yasser Arafat. Demonstrators shouted "Death to America, Death to Israel" at the
Published 13 Nov, 2004 12:00am
Philippines rail and cars crash; 12 dead

Philippines rail and cars crash; 12 dead

Rescuers in the Philippines freed more than 100 train passengers trapped on Friday when a crowded economy carriage derailed and dragged other cars into a steep ravine, killing at least 12 people. The train's speed was believed to be a factor in the early
Published 13 Nov, 2004 12:00am
Indians celebrate Diwali

Indians celebrate Diwali

Millions of people across India Friday celebrated the biggest Hindu holiday of the year, Diwali, or the festival of lights, exchanging sweets and bursting firecrackers with traditional fervour. Skies over the Indian capital New Delhi were lit up by firewo
Published 13 Nov, 2004 12:00am
Questions remain on Arafat's successors

Questions remain on Arafat's successors

The United States has pledged to work with Yasser Arafat's successors to revive Middle East peace talks, but questions remain about whether the new Palestinian leadership is up to the task in US eyes. Whether it be a matter of style or ideology, officials
Published 13 Nov, 2004 12:00am
Germany renews troop deployments

Germany renews troop deployments

The German parliament approved on Friday a government request to keep soldiers deployed for another year in US-led anti-terror missions off the Horn of Africa and in the Mediterranean. In an overwhelming vote, 550 members of parliament voted in favour wit
Published 13 Nov, 2004 12:00am
16 killed as strong quake hits Indonesian isle

16 killed as strong quake hits Indonesian isle

An earthquake registering 6.0 on the Richter scale shook a remote island in eastern Indonesia on Friday, killing 16 people and injuring dozens more, a government official said. Muhammad Bere, head of the disaster relief centre in the town of Kalabahi on A
Published 13 Nov, 2004 12:00am
Europeans eager to improve relations with US: Blair

Europeans eager to improve relations with US: Blair

European countries have a "tremendous desire and willingness" to bolster trans-Atlantic relations, British Prime Minister Tony Blair said Friday after talks with US President George W. Bush. At a news conference with Bush, Blair spoke of the need to work
Published 13 Nov, 2004 12:00am
16 hurt as three bombs rock Thailand

16 hurt as three bombs rock Thailand

At least sixteen people were injured, including four critically, when three blasts rocked Thailand's restive south on Friday, police and witnesses said. All 16 were injured in the first of the blasts Friday evening when a remote control bomb was triggered
Published 13 Nov, 2004 12:00am
Euthanasia distorts medical ethics: Pope

Euthanasia distorts medical ethics: Pope

Pope John Paul branded euthanasia a distortion of medical ethics on Friday, saying doctors could not decide "who can live and who must die". But while condemning euthanasia, the Pope said terminally ill patients had the right to refuse medicine and therap
Published 13 Nov, 2004 12:00am
Bush sees 'great chance' for Palestinian state

Bush sees 'great chance' for Palestinian state

President George W. Bush said Friday that after the death of Yasser Arafat there was now a "great chance" to create an independent Palestinian state living at peace with Israel by the time he leaves office in 2009. He said after a summit with British Prim
Published 13 Nov, 2004 12:00am
Sterling stays down versus euro

Sterling stays down versus euro

Sterling fell to a 10-month low against the euro for a third successive day on Friday, as expectations that interest rates have peaked continued to weigh on the pound. Currency watchers will look to a batch of UK economic data out next week for further co
Published 13 Nov, 2004 12:00am
Dollar under pressure

Dollar under pressure

The dollar fell two thirds of a percent against the yen to within sight of seven-month lows and edged towards recent record lows against the euro on Friday as worries persisted about the US current account deficit. The dollar has lost as much as five perc
Published 13 Nov, 2004 12:00am
Indian shares briefly breach 6,000 mark

Indian shares briefly breach 6,000 mark

Indian shares ended with modest gains in a truncated special session on Friday, but briefly crossed the psychologically important 6,000 mark early in festival inspired trading, brokers said. Select technology, drug and automobile stocks lifted the index,
Published 13 Nov, 2004 12:00am
US Stocks: Friday's unofficial close

US Stocks: Friday's unofficial close

Stocks rose slightly on Friday, boosted by computer maker Dell Inc, but gains were small as Wall Street took a breather after Thursday's rally. Dell supported the tech-heavy Nasdaq and the Standard & Poor's 500 index as it rose about 7 percent to $39.91,
Published 13 Nov, 2004 12:00am
Bonds: Ford gains, GM lags; Hornbach sets record

Bonds: Ford gains, GM lags; Hornbach sets record

Euro-denominated bonds of Ford Motor Co gained on Friday in a thin market, outperforming rival General Motors, while in the high-yield market Germany's Hornbach-Baumarkt set a record low coupon with a new bond.
Published 13 Nov, 2004 12:00am
Bonds: Ford gains, GM lags; Hornbach sets record

Bonds: Ford gains, GM lags; Hornbach sets record

Euro-denominated bonds of Ford Motor Co gained on Friday in a thin market, outperforming rival General Motors, while in the high-yield market Germany's Hornbach-Baumarkt set a record low coupon with a new bond.
Published 13 Nov, 2004 12:00am
Britain's top share index ends at 29-month high

Britain's top share index ends at 29-month high

Top UK shares closed firmer on Friday, extending their winning streak to four straight sessions but with momentum slowing as investors consolidated some gains, while media shares were in demand after results from BSkyB. Shares in Britain's top pay-TV firm
Published 13 Nov, 2004 12:00am
Brazil and China soya trade pact within two months

Brazil and China soya trade pact within two months

Brazilian and Chinese officials will continue talks to try and reach an agreement within 60 days on health standards for soya trade, Agriculture Minister Roberto Rodrigues said on Friday during a visit to Brazil by China's leader. But he added that sanita
Published 13 Nov, 2004 12:00am
US corn, soya and cotton crops bigger, stocks too

US corn, soya and cotton crops bigger, stocks too

A trouble-free harvest at the end of a nearly ideal 2004 growing season is bringing record supplies of US corn, soyabeans and cotton, depressing farm prices, the government said on Friday. Farm-gate prices will retreat to low levels seen at the start of t
Published 13 Nov, 2004 12:00am
Oil holds near seven-week lows on wintry US forecast

Oil holds near seven-week lows on wintry US forecast

Oil prices held steady near 7-week lows on Friday on forecasts for colder-than-normal weather in the US Northeast. US crude rose four cents to $47.46 a barrel after a slide that has knocked 14 percent off the October 25 all-time peak of $55.67. London Bre
Published 13 Nov, 2004 12:00am
London sugar ends down

London sugar ends down

London December sugar futures closed down $4.00 at $234.00 on Friday on book-squaring before the contract ends on Monday and traders expected deliveries of up to four cargoes against the expiry. March settled down $2.30 at $247.00 in light volume of 1,945
Published 13 Nov, 2004 12:00am
New York cotton ends mostly down

New York cotton ends mostly down

NYBOT cotton futures closed mostly easier Friday as switch trade dominated business and a bearish government production report was ignored for the most part by the trade, dealers said. December cotton added 0.46 cent to finish at 44.34 cents a lb, dealing
Published 13 Nov, 2004 12:00am
London cocoa softer on improved Ivorian outlook

London cocoa softer on improved Ivorian outlook

London cocoa futures settled in negative territory as the market backed down from recent highs on an improved outlook for supplies from Ivory Coast, where a political crisis has stalled exports during the past week, traders said on Friday. Liffe's most-ac
Published 13 Nov, 2004 12:00am
LME copper above $3,000 tonnes on supply tightness

LME copper above $3,000 tonnes on supply tightness

London Metal Exchange (LME) copper closed above $3,000 a tonne by Friday's kerb, its highest in a month, as supply tightness encouraged fund buying and short covering against a backdrop of dollar weakness, traders said. "Copper held above $3,000 all day w
Published 13 Nov, 2004 12:00am
Gold scores fresh 16-year high, platinum strong

Gold scores fresh 16-year high, platinum strong

Gold squeezed out another 16-year peak on Friday afternoon in Europe at $437.40 per ounce, before shrinking back slightly with the euro after robust US data took the shine off bullion for non-US investors. Dealers remained confident on chances of moving t
Published 13 Nov, 2004 12:00am
US MIDDAY: coffee stays up on fund profit-taking

US MIDDAY: coffee stays up on fund profit-taking

New York coffee futures retreated Friday as fund profit-taking ahead of the weekend checked an eight-day winning streak, traders said. On the New York Board of Trade, front-month December arabica sagged 0.95 cent to settle at 80.50 cents a lb after tradin
Published 13 Nov, 2004 12:00am
US MIDDAY: cocoa eases on anti-foreign tumult

US MIDDAY: cocoa eases on anti-foreign tumult

New York cocoa futures eased Friday as Ivory Coast exporters got back to business after days of anti-foreign tumult that had curbed shipments, causing prices to spike to levels not seen in more than one year. But lingering instability in the world's leadi
Published 13 Nov, 2004 12:00am
US MIDDAY: sugar extends losses on sales

US MIDDAY: sugar extends losses on sales

Raw sugar futures closed near its session lows Friday on sales by small speculators in slow dealings, with the sweetener tipped to dawdle in a band going into next week, brokers said. The New York Board of Trade's key March raw sugar contract slid 0.13 ce
Published 13 Nov, 2004 12:00am
US MIDDAY: wheat drops on supply/demand reports

US MIDDAY: wheat drops on supply/demand reports

Chicago Board of Trade wheat futures fell to new contract lows on Friday amid pressure from the USDA's November crop and supply/demand reports, traders said. At 9:44 am CST (1544 GMT), CBOT wheat was down 1-1/2 to 3-3/4 cents per bushel, with December dow
Published 13 Nov, 2004 12:00am
US MIDDAY: corn hits contract low on crop estimate

US MIDDAY: corn hits contract low on crop estimate

Chicago Board of Trade corn and soyabean futures tumbled early on Friday reacting to the government's huge US crop estimates released before the open, traders said. December corn hit a contract low of $1.95-1/2 early, while CBOT soyabeans fell 5 to 6 cent
Published 13 Nov, 2004 12:00am
US MIDDAY: soyabeans fall on crop estimate

US MIDDAY: soyabeans fall on crop estimate

Soyabean futures at the Chicago Board of Trade fell early Friday, reacting to the government's increase in its 2004 US crop estimate and world oilseed stocks, traders said. But a round of short covering helped bring the market off the lows. Firm CIF value
Published 13 Nov, 2004 12:00am
US MIDDAY: copper rises on retail sales

US MIDDAY: copper rises on retail sales

COMEX copper rose to a fresh one-month high Friday morning on the back of upbeat US retail sales, traders said. As investors turn increasingly optimistic following a pullback in oil prices and a decisive US presidential election, traders said, strength in
Published 13 Nov, 2004 12:00am
US MIDDAY: gold advances and platinum up

US MIDDAY: gold advances and platinum up

US gold futures edged up Friday morning but still held off from this week's 16-year peak, with a weak dollar and economic data dictating direction as traders squared positions at week's end, dealers said. Platinum popped above a prior resistance level to
Published 13 Nov, 2004 12:00am
PIA notifies cancellation of certain flights

PIA notifies cancellation of certain flights

Pakistan International Airlines has announced the cancellation of certain flights during Eid holidays on November 15 and 16. According to the announcement on November 15, PIA flight PK-249 and 250 for Islamabad-Peshawar-Kabul-Peshawar-Islamabad has been c
Published 13 Nov, 2004 12:00am
Drive to improve health services after Eid

Drive to improve health services after Eid

Advisor to Sindh Chief Minister on Health Faisal Malik has vowed to carry out a massive drive after Eid-ul-Fitr for improvement of health services in every nook and corner of the province. Talking to newsmen here after presiding over a meeting of the Exec
Published 13 Nov, 2004 12:00am
High import tariffs hamper leather export to Russia: Plgmea

High import tariffs hamper leather export to Russia: Plgmea

The Russian market of leather garments is of one billion dollars but Pakistan is able to export leather garments of just 1.6 million dollars. This was stated by the Pakistan Leather Garments Manufacturers and Exporters Association (Plgmea) chairman, Fawad
Published 13 Nov, 2004 12:00am
'Government keen to solve problems of Mirpurkhas'

'Government keen to solve problems of Mirpurkhas'

Sindh Minister for Tourism and Culture Shabbir Qaimkhani has said that all possible efforts are being made for restoration of services of those teachers of Mirpurkhas who were terminated in 1998. Speaking at an Iftar/dinner here, the minister said that th
Published 13 Nov, 2004 12:00am
Pakistani textile industry well prepared: experts

Pakistani textile industry well prepared: experts

With quota regime ending in January 2005 and the on-going expansion in textile business in the country. Pakistani textile industry is better prepared to compete with its Asian rivals. 'At the current pace of expansion, the industry expects investments of
Published 13 Nov, 2004 12:00am
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