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Nov 16, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2004-11-30
Gazprom wants 40 percent dividend hike

Gazprom wants 40 percent dividend hike

Russian gas monopoly Gazprom, the world's largest gas producer and key European supplier, is pushing for a 40 percent rise in dividend payments for 2004, Interfax agency quoted a company source as saying. It wants to pay 23 billion roubles ($806 million)
Published 30 Nov, 2004 12:00am
July-October steel output down 25.62 percent

July-October steel output down 25.62 percent

Cement production has increased by 18.76 percent in the last four months, (July-October-2004) but the production of iron and steel has dropped. Production data of four months shows that cast iron or rolled billet dropped by 25.62 percent, and galvanised p
Published 30 Nov, 2004 12:00am
OECD must integrate China and India: director

OECD must integrate China and India: director

It is essential that the Organisation for Economic Co-operation and Development associates China and India with its work, OECD secretary general Donald Johnston said in an interview published Monday by the financial daily La Tribune.
Published 30 Nov, 2004 12:00am
Inflation down at 8.7 percent

Inflation down at 8.7 percent

The Ministry of Finance is actively considering the matter pertaining to rise in petroleum prices in the international market to decide whether the government should continue to bear its burden or to transfer its impact to the general public. State Bank o
Published 30 Nov, 2004 12:00am
Recent euro moves unwelcome: Trichet

Recent euro moves unwelcome: Trichet

Recent movements in the euro are not welcome, European Central Bank President Jean-Claude Trichet said on Monday. Asked during the question and answer period at a conference on European Economic Integration whether he was concerned about the euro's streng
Published 30 Nov, 2004 12:00am
Inflation down at 8.7 percent

Inflation down at 8.7 percent

The Ministry of Finance is actively considering the matter pertaining to rise in petroleum prices in the international market to decide whether the government should continue to bear its burden or to transfer its impact to the general public. State Bank o
Published 30 Nov, 2004 12:00am
Bush planning total revamp of economic team: Washington Post

Bush planning total revamp of economic team: Washington Post

US President George W. Bush is planning a massive shake-up of his economic team, replacing four of five top officials including his Commerce and Treasury secretaries, the Washington Post reported Monday. The overhaul would be the second in two year
Published 30 Nov, 2004 12:00am
Eight additional LHC judges named

Eight additional LHC judges named

President General Pervez Musharraf has ordered appointment of eight additional judges of Lahore High Court for a period of one year. A notification by the Law, Justice and Human Rights Division stated the judges have been appointed from the date they take
Published 30 Nov, 2004 12:00am
Japan October retail sales hit by typhoons

Japan October retail sales hit by typhoons

Japanese retail sales fell from year-ago levels for the third straight month in October as unusually frequent typhoons kept shoppers at home, raising doubts about whether consumer spending could support a slowing economy. October retail sales were down 1.
Published 30 Nov, 2004 12:00am
Eight additional LHC judges named

Eight additional LHC judges named

President General Pervez Musharraf has ordered appointment of eight additional judges of Lahore High Court for a period of one year. A notification by the Law, Justice and Human Rights Division stated the judges have been appointed from the date they take
Published 30 Nov, 2004 12:00am
Saudi Arabia to raise oil capacity in 'next few years'

Saudi Arabia to raise oil capacity in 'next few years'

Saudi Arabia has made plans to increase its oil production capacity to 12.5 million barrels per day from the current 11.0 million over the next few years, the kingdom's oil minister Ali al-Nuaimi said here Monday. "This year, we increased our total produc
Published 30 Nov, 2004 12:00am
Hatf-III successfully test-fired

Hatf-III successfully test-fired

Pakistan carried out another test of a nuclear-capable ballistic missile on Monday as part of efforts to boost its defences, the military sources said. A successful test of a surface-to-surface solid-fuel missile Hatf-III Ghaznavi with a range of 290 km (
Published 30 Nov, 2004 12:00am
Europe's tug-of-war on GMO crops rages on

Europe's tug-of-war on GMO crops rages on

UK scientists pronounced some genetically modified (GMO) crops harmless on Monday but European Union experts demurred, declining to approve another new GMO product for the eighth time in a row. The lack of agreement underscores lingering European distaste
Published 30 Nov, 2004 12:00am
Hatf-III successfully test-fired

Hatf-III successfully test-fired

Pakistan carried out another test of a nuclear-capable ballistic missile on Monday as part of efforts to boost its defences, the military sources said. A successful test of a surface-to-surface solid-fuel missile Hatf-III Ghaznavi with a range of 290 km (
Published 30 Nov, 2004 12:00am
Intelsat satellite loss threatens $3.1 billion sale

Intelsat satellite loss threatens $3.1 billion sale

A planned $3.1 billion take-over of satellite operator Intelsat Ltd appeared in jeopardy on Monday after the company said an electrical problem had ruined one of its satellites. Bermuda-based Intelsat said private equity group Zeus Holdings Ltd had the ri
Published 30 Nov, 2004 12:00am
Private sector in mining welcomed

Private sector in mining welcomed

Punjab Minister for Mines and Minerals, Muhammad Sibtain Khan has said that services of private sector would be utilised for exploration and development of mineral resources in the province, while special incentives and facilities would be extended to the
Published 30 Nov, 2004 12:00am
WTO urges Brazil to further liberalise economy

WTO urges Brazil to further liberalise economy

The World Trade Organisation (WTO) on Monday urged Brazil to speed up liberalisation of its economy, particularly in financial services, saying it would help sustain growth. In a report on Latin America's largest country, the WTO noted Brazil had made mov
Published 30 Nov, 2004 12:00am
Plantation along GT Road starts

Plantation along GT Road starts

Punjab Forests Department in collaboration with National Highway Authority (NHA) has started planting saplings along both sides of GT Road and in this regard 125,000 plants would be planted at N-5 from Rawalpindi to Jhelum and Jhelum to Gujranwala.
Published 30 Nov, 2004 12:00am
Bangladesh excludes exporters from VAT to boost trade

Bangladesh excludes exporters from VAT to boost trade

Bangladesh has excluded export-orientated industries from paying value added tax (VAT) in a bid to boost their competitiveness before global textile trade quotas are dropped at the year end, a senior official said on Monday. "From now there will be no VAT
Published 30 Nov, 2004 12:00am
NCR consulting centre set up

NCR consulting centre set up

Teradata, a division of NCR Corporation announced the establishment of a Global Consulting Centre (GCC) in Pakistan. The GCC is an expansion of the Centre of Expertise in the country, for data warehousing and customer relationship management (CRM) coverin
Published 30 Nov, 2004 12:00am
European economies need reforms to avoid long lag: OECD

European economies need reforms to avoid long lag: OECD

Ambitious reforms are needed in many central European economies if living standards are not to lag behind those in western Europe for decades, an OECD expert said here on Monday. A central problem would be a shortage of labour, the expert, OECD economic a
Published 30 Nov, 2004 12:00am
Polish envoy calls on Punjab chief minister

Polish envoy calls on Punjab chief minister

Peoples Republic of Poland Ambassador to Pakistan Bogdan Marczewski called on Punjab Chief Minister Chaudhry Pervaiz Elahi here on Monday and discussed matters of mutual interest and prospects of trade cooperation.
Published 30 Nov, 2004 12:00am
Asean inks historic deal with China

Asean inks historic deal with China

Southeast Asian countries moved a step closer to forging their own European-style single market here Monday, and also signed deals with China towards creating the world's largest free-trade area by 2010. The 10 leaders of the Association of Southeast Asia
Published 30 Nov, 2004 12:00am
Pak-India secretary-level talks from December 23

Pak-India secretary-level talks from December 23

The Foreign Office spokesman on Monday said that though there was "no breakthrough so far" from the First Round of Composite Dialogue with India, the process provided opportunities to understand each other's perceptions on the issues and move forward. He
Published 30 Nov, 2004 12:00am
JP Morgan to cut jobs in Europe

JP Morgan to cut jobs in Europe

J.P. Morgan Chase is to cut investment banking jobs in Europe as part of an end-of-year business review, sources familiar with the bank said on Monday. The bank employs about 6,000 investment bank staff in Europe and the cutbacks could represent about 5 p
Published 30 Nov, 2004 12:00am
Pak-India secretary-level talks from December 23

Pak-India secretary-level talks from December 23

The Foreign Office spokesman on Monday said that though there was "no breakthrough so far" from the First Round of Composite Dialogue with India, the process provided opportunities to understand each other's perceptions on the issues and move forward. He
Published 30 Nov, 2004 12:00am
Australia sets record current account deficit

Australia sets record current account deficit

Australia's current account deficit widened to a record in the third quarter as the strong Australian dollar, near eight-year highs, made the country's exports more expensive for offshore buyers. Economists said they would downgrade forecasts for third-qu
Published 30 Nov, 2004 12:00am
Irsa sees 47 percent water shortage for Rabi

Irsa sees 47 percent water shortage for Rabi

The actual loss in the Indus Basin during the period October 1 to November 20 remained 15 percent against anticipated loss of 11 percent. This was informed in a meeting of Indus River System Authority (Irsa) held here on Monday under the chairmanship of A
Published 30 Nov, 2004 12:00am
China's 2004 growth to hit at least nine percent

China's 2004 growth to hit at least nine percent

China has reiterated that its economy will maintain a rapid pace of growth next year while 2004 gross domestic product (GDP) will expand by at least nine percent, state press reported Monday. Increasing urbanisation, industrialisation and rising private c
Published 30 Nov, 2004 12:00am
Irsa sees 47 percent water shortage for Rabi

Irsa sees 47 percent water shortage for Rabi

The actual loss in the Indus Basin during the period October 1 to November 20 remained 15 percent against anticipated loss of 11 percent. This was informed in a meeting of Indus River System Authority (Irsa) held here on Monday under the chairmanship of A
Published 30 Nov, 2004 12:00am
Latam 2004 growth seen topping World Bank forecast

Latam 2004 growth seen topping World Bank forecast

A senior official at the World Bank said on Monday he sees Latin America's regional economy bound for more than 5 percent growth this year, compared with the bank's latest official projection of an expansion of 4.7 percent.
Published 30 Nov, 2004 12:00am
Shell seeks permanent Indonesia oil retail licence

Shell seeks permanent Indonesia oil retail licence

Royal Dutch/Shell Group has asked the Indonesian government for a permanent licence to retail oil products as it prepares to start selling by the end of 2005, a company official said on Monday. Jakarta gave Shell a temporary 12-month licence in February t
Published 30 Nov, 2004 12:00am
ABN Amro creates new fixed income business

ABN Amro creates new fixed income business

Netherlands-based bank ABN Amro is set to restructure its fixed income business to bring credit, interest rate and distribution activities under one roof, a spokesman for the bank told Reuters on Monday. The new business, which will launch on January 1, w
Published 30 Nov, 2004 12:00am
EU to delay adoption of stock options accounting

EU to delay adoption of stock options accounting

The European Commission will delay to mid-December its endorsement of an upcoming accounting rule on stock options, increasing the risk the standard may not be adopted by January 2005 as planned, officials said on Monday.
Published 30 Nov, 2004 12:00am
Indonesia in talks with BP on gas field extensions

Indonesia in talks with BP on gas field extensions

BP Plc is negotiating with Indonesia to extend contracts for natural gas blocks that will supply LNG plants at its Tangguh project in Papua province, Mines and Energy Minister Purnomo Yusgiantoro said on Monday.
Published 30 Nov, 2004 12:00am
ABB wins $70 million Mexian power orders

ABB wins $70 million Mexian power orders

Swiss engineering group ABB won orders worth $70 million for three projects to strengthen the power supply in Mexico, the firm said on Monday. ABB said the contracts, awarded by the Mexican state-owned utility, will enlarge the transmission network in dif
Published 30 Nov, 2004 12:00am
Canada's current account surplus dips

Canada's current account surplus dips

Canada's current account surplus fell in the third quarter to C$9.4 billion ($8 billion), from a revised C$11.2 billion in the second quarter, Statistics Canada said on Monday, but beat analysts' expectations. Analysts had forecast, on average, a surplus
Published 30 Nov, 2004 12:00am
Manila sees 6 percent GDP growth this year

Manila sees 6 percent GDP growth this year

The Philippine economy grew 6.3 percent in the year through the third quarter, stronger than forecast, prompting the government to raise its full-year target to at least 6 percent. The government said on Monday it revised the previous 2004 growth target o
Published 30 Nov, 2004 12:00am
Reliance investors count the cost of management battle

Reliance investors count the cost of management battle

Investors in Reliance group companies are counting the cost since the ownership spat between the two Ambani brothers emerged into the open two weeks ago, undercutting confidence in India's largest private group for millions of shareholders.
Published 30 Nov, 2004 12:00am
Jilted Woodbridge chooses India's Bhupathi as new doubles partner

Jilted Woodbridge chooses India's Bhupathi as new doubles partner

Australian Todd Woodbridge said Monday his new doubles partner Indian Mahesh Bhupathi was capable of helping him win his 10th Wimbledon doubles tennis crown next year. Bhupathi, a winner of four Grand Slam titles and 36 doubles titles overall, also recent
Published 30 Nov, 2004 12:00am
Sehwag blasts India off to good start in reply to South Africa

Sehwag blasts India off to good start in reply to South Africa

Indian opener Virender Sehwag slammed a sparkling 82 not out to ensure the base for a big total in reply to South Africa's modest score in the second and final Test here on Monday. Sehwag added 112 for the unbroken second wicket with vice-captain Rahul Dr
Published 30 Nov, 2004 12:00am
Germans arrive for Champions Trophy

Germans arrive for Champions Trophy

World Champions, Germany on Monday warned that despite young players in their ranks they will be giving time to opponents to produce surprising results in the elite six nation champions trophy hockey tournament commencing here from December 4 at National
Published 30 Nov, 2004 12:00am
Sharapova and Myskina feud threatens Russian unity

Sharapova and Myskina feud threatens Russian unity

A bitter feud between Wimbledon champion Maria Sharapova and French Open winner Anastasia Myskina is threatening to sabotage Russia's defence of their Fed Cup crown in 2005 at a time when the country's tennis Tsarinas are on top of the world. Myskina led
Published 30 Nov, 2004 12:00am
Couples hits the jackpot at Skins Game

Couples hits the jackpot at Skins Game

Fred Couples made two big putts - worth at least 300,000 dollars apiece - to again emerge the big winner at the Skins Game, which also featured Tiger Woods, Annika Sorenstam and Adam Scott. Couples sank a 27-foot birie try at the par-four 10th and knocked
Published 30 Nov, 2004 12:00am
Pakistan gets 'fairplay' hockey trophy for Athens Olympics

Pakistan gets 'fairplay' hockey trophy for Athens Olympics

Pakistan has received a trophy for being the fairest field hockey team in this year's Athens Olympics, where it finished fifth in the actual event, an official said Monday. The award, which Pakistan won for getting the least green, yellow and red cards an
Published 30 Nov, 2004 12:00am
Tough work, but Oram is relishing the Aussie challenge

Tough work, but Oram is relishing the Aussie challenge

New Zealand all-rounder Jacob Oram said on Monday playing in the lopsided series against Australia "leaves for dead" thrashing Bangladesh twice in Tests last month. Oram is one of the Kiwis' big hopes of salvaging a draw out of a looming heavy defeat in t
Published 30 Nov, 2004 12:00am
Pacer Khalil aims for Pathan-like success

Pacer Khalil aims for Pathan-like success

Pakistan's uncapped pacer Mohammad Khalil hopes for a surprise maiden tour of Australia to equal that of Indian rising star Irfan Pathan who emerged as his country's key bowler last year. "If Pathan can succeed on his first tour why can't I," Khalil said
Published 30 Nov, 2004 12:00am
Kiwis cling on as Aussies go for the jugular

Kiwis cling on as Aussies go for the jugular

New Zealand kept an eye on the weather to save them as they frustrated Australia's efforts to wrap up another fast-tracked victory in the second cricket Test at the Adelaide Oval on Monday. The Kiwis, humiliated by an innings loss in Brisbane, appeared to
Published 30 Nov, 2004 12:00am
Pakistan hoping to catch Aussies on the hop

Pakistan hoping to catch Aussies on the hop

A youthful Pakistan cricket squad arrived in Perth Monday night bristling with confidence at the daunting task which confronts them in the upcoming Test series against Australia. The Pakistanis have never won a test series in Australia and will spend clos
Published 30 Nov, 2004 12:00am
Japan to hold tender for rice

Japan to hold tender for rice

Japan's Agriculture Ministry will hold an import tender for 44,690 tonnes of rice under the simultaneous buy and sell (SBS) system on December 21, a ministry official said on Monday. Shipment is set by February 24 for rice to be delivered to wholesalers i
Published 30 Nov, 2004 12:00am
Wheat prices drop on huge world supply

Wheat prices drop on huge world supply

Wheat prices fell sharply on Friday as an international crop agency's report reminded traders that world wheat supplies are huge and will likely keep prices under pressure into next year. Corn and soyabean prices were also lower in futures trading at the
Published 30 Nov, 2004 12:00am
Oil cake market rates

Oil cake market rates

Downward trend was seen on the cottonseed oilcake market on Monday in sluggish trading, dealers said. The December vaida opened lower at Rs 402.00. Later, it picked up 30 paisa to be day's best at Rs 402.30. During the day it lost Rs two to be day's lowes
Published 30 Nov, 2004 12:00am
Ginners indulge in panic selling on cotton market

Ginners indulge in panic selling on cotton market

Cotton prices extended weekend losses on the week's opening session as ginners indulged in panic selling, brokers said. The official spot rate of grade 3 cotton was unchanged at Rs 1875 without upcountry expenses. In Punjab, cotton prices fell to Rs 1775-
Published 30 Nov, 2004 12:00am
Egypt to sell 30,000 tonnes raw sugar

Egypt to sell 30,000 tonnes raw sugar

Egypt's Sugar and Integrated Industries Company (SIIC) received offers to sell it 30,000 tonnes of raw sugar at between $241 and $281 per tonne, a senior official from the state-owned company said on Monday. He also said the firm would announce its decisi
Published 30 Nov, 2004 12:00am
Easier trend on grain market

Easier trend on grain market

Falling trend was seen on the grain market on the week's opening session on Monday following comfortable supplies from upcountry centres, dealers said. Several changes were marked on the cereals side where wheat Mexipak both old and new varieties lost Rs
Published 30 Nov, 2004 12:00am
Ivory Coast cocoa buying slows for lack of finance

Ivory Coast cocoa buying slows for lack of finance

Beans from Ivory Coast's main cocoa crop are available in the bush but purchasing has slowed to a trickle through lack of finance, co-operatives and exporters said on Monday. A salesman at the Cocaf Ivoire exporter in the port city of San Pedro said fewer
Published 30 Nov, 2004 12:00am
EU experts fail to authorise new biotech maize

EU experts fail to authorise new biotech maize

EU environment experts failed to agree on approving a new type of genetically modified maize (GMO) made by US giant Monsanto, again revealing their deep divisions over biotech foods, officials said on Monday. Eight countries - Britain, France, Germany, th
Published 30 Nov, 2004 12:00am
Major UK study sees little harm in GMO crops

Major UK study sees little harm in GMO crops

A fresh row over genetically modified (GMO) crops brewed in Britain on Monday after a major government and industry-backed study found no evidence they harmed the environment. The project, which focused on how gene-spliced herbicide-tolerant varieties of
Published 30 Nov, 2004 12:00am
Funds cautiously eye EU grain and oilseed futures

Funds cautiously eye EU grain and oilseed futures

Funds are beginning to wake up to long-neglected European grain and oilseed derivatives, but analysts said on Monday the contracts needed more liquidity to spark a rush of investment capital. Euronext Liffe, created after Euronext's take-over of Liffe in
Published 30 Nov, 2004 12:00am
Uranium enters spotlight in Australia's WMC battle

Uranium enters spotlight in Australia's WMC battle

A strengthening uranium market has added a key element to the take-over battle for Australia's WMC Resources Ltd as it fights a A$7.4 billion ($5.8 billion) bid by Swiss-based Xstrata Plc., analysts said. WMC earns most of its revenues from nickel and cop
Published 30 Nov, 2004 12:00am
Russian weekly grain market report

Russian weekly grain market report

Russian grain prices remained mostly unchanged over the past week with third class food wheat being the only exception as prices continued to slide. Average offer prices on third class food wheat fell by around 50/100 roubles per tonne over the past week
Published 30 Nov, 2004 12:00am
US Plains HRW wheat bids steady

US Plains HRW wheat bids steady

Hard red winter wheat spot basis bids in the US Plains were mostly steady Monday, with trade remaining quiet after the US Thanksgiving holiday, dealers said. The markets closed early Friday after being shut Thursday in observance of US Thanksgiving. "It's
Published 30 Nov, 2004 12:00am
London wheat futures end down as export hopes dim

London wheat futures end down as export hopes dim

London's feed wheat market settled lower on Monday but without a single lot traded after sellers and buyers stood their ground, dealers said. "With the dollar weakening against the euro and the US (wheat) market plunging, our export potential is diminishi
Published 30 Nov, 2004 12:00am
Argentine wheat sales down

Argentine wheat sales down

Argentine export commitments of 2004/05 wheat totalled 1.105 million tonnes by November 26, the local agriculture department said on Monday, giving information on the new crop for the first time. By the same date last year, Argentina had sold 1.54 million
Published 30 Nov, 2004 12:00am
French wheat down on weak US futures, dollar

French wheat down on weak US futures, dollar

Weak US markets, a strong euro against the dollar and high freight rates hit French wheat prices on Monday, forcing futures to fresh lows, traders said. Farmers stepped up sales having completed winter sowings but met limited demand from domestic users, w
Published 30 Nov, 2004 12:00am
US Midwest corn and soyabean steady to firm

US Midwest corn and soyabean steady to firm

Spot basis bids for corn and soyabeans were steady to firm in the US Midwest on Monday morning and cash grain movement was slow as the trade swung back to business after the US Thanksgiving holiday weekend, merchandisers said. Business ground to a halt la
Published 30 Nov, 2004 12:00am
Singapore bunker fuel prices down

Singapore bunker fuel prices down

Singapore bunker prices fell on Monday, tracking lower 380-cst fuel oil cargo values. Suppliers pegged 380-cst bunker fuel oil levels at $189-$191 a tonne, down $3 from last Friday. Prices for the 180-cst grades were also lower at $199-$201. "There is ver
Published 30 Nov, 2004 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 39,073 tonnes of cargo including 29,903 tonnes import and 9,170 tonnes export cargo during last 24 hours ending at 0700 hours on Monday. The cargo comprised of 37,773 tonnes dry and 1,300 tonnes liquid cargo. Five ships namely Tho
Published 30 Nov, 2004 12:00am
New Zealand share market rises

New Zealand share market rises

New Zealand shares reached a record high for the fourth straight day on Monday, as cash-rich investors pushed the market within striking distance of the psychological 3,000 level. The NZSX-50 Index climbed 19.81 points, or 0.67 percent, to close at 2,988.
Published 30 Nov, 2004 12:00am
Australian stocks test new highs on domestic strength

Australian stocks test new highs on domestic strength

The Australian stock market ended 0.4 percent higher on Monday after touching a fresh high, led by retailers, Telstra and News Corp, offsetting a mixed day in the mining sector. The benchmark S&P/ASX 200 put on 14.7 points to end at 3,926.8, just off a re
Published 30 Nov, 2004 12:00am
Jakarta stocks edge down, outlook stays positive

Jakarta stocks edge down, outlook stays positive

Jakarta stocks edged lower on Monday weighed down by mild profit taking, but buying interest remained strong on selective blue chips and banking stocks. The Jakarta Composite Index eased 0.12 percent to close at 964.09 points in active turnover of around
Published 30 Nov, 2004 12:00am
Taiwan shares finish with small gains

Taiwan shares finish with small gains

Taiwan share prices closed 0.11 percent firmer in quiet trade on Monday, with an early technical rebound after Friday's sharp losses failing to make much headway in a cautious market, dealers said. They said trade was quiet, with investors unwilling to ta
Published 30 Nov, 2004 12:00am
Seoul shares end up, tight steel supply lifts POSCO

Seoul shares end up, tight steel supply lifts POSCO

Seoul shares closed higher on Monday, led by gains in POSCO on hopes steel shortages among Japanese auto makers would boost overall demand, while utilities also gained on optimism a strong won would cut fuel import costs. However, gains were capped due to
Published 30 Nov, 2004 12:00am
Indian stocks higher

Indian stocks higher

Indian share prices jumped 2.03 percent Monday to their second highest closing level ever on a recovery in Reliance stocks after recent losses triggered by a family ownership dispute, dealers said. The Bombay Stock Exchange's 30-share Sensex closed up 122
Published 30 Nov, 2004 12:00am
Hong Kong shares led by Hutchison and Cheung Kong

Hong Kong shares led by Hutchison and Cheung Kong

Hong Kong share prices closed 1.24 percent higher on Monday led by Hutchison Whampoa and Cheung Kong on talk they may sell their holding in Husky Energy of Canada, dealers said. They said there was also support coming through from the settlement Monday of
Published 30 Nov, 2004 12:00am
Indian foreign bond buying limit excludes corporate debt

Indian foreign bond buying limit excludes corporate debt

India's capital markets regulator, the Securities and Exchange Board of India (SEBI), said on Monday a $1.75 billion limit on debt purchases by foreign institutional investors (FIIs) would exclude corporate debt. "Investments by the FIIs through 100 perce
Published 30 Nov, 2004 12:00am
Indian foreign bond buying limit excludes corporate debt

Indian foreign bond buying limit excludes corporate debt

India's capital markets regulator, the Securities and Exchange Board of India (SEBI), said on Monday a $1.75 billion limit on debt purchases by foreign institutional investors (FIIs) would exclude corporate debt. "Investments by the FIIs through 100 perce
Published 30 Nov, 2004 12:00am
Thai stocks finish firmer

Thai stocks finish firmer

Thai stocks rose 1.3 percent to their highest close in more than a month on Monday as hopes of a year-end rally boosted bargain hunting and analyst reports boosted construction firm Italian Thai. The benchmark Stock Exchange of Thailand composite index ro
Published 30 Nov, 2004 12:00am
Sri Lankan stocks flat, oil firm IPO oversubscribed

Sri Lankan stocks flat, oil firm IPO oversubscribed

Sri Lankan stocks ended flat on Monday in thin trade as investors focused on the initial public offering of the local arm of Indian Oil Corporation, which officials said was oversubscribed on its opening day. Details of Lanka IOC's share issue are due to
Published 30 Nov, 2004 12:00am
Chinese shares dip, institutional investors cash out

Chinese shares dip, institutional investors cash out

China's shares closed 1.42 percent lower on Monday at their lowest level in three weeks as some institutional investors cashed out of their holdings to beef up year-end balance sheets. The benchmark Shanghai composite index, which groups foreign currency
Published 30 Nov, 2004 12:00am
Singapore shares jump on blue chip gains

Singapore shares jump on blue chip gains

Singapore shares rose about half a percent on Monday, led by blue chips such as DBS Group and techs such as Creative Technology on the back of higher regional markets and strong economic data. The Straits Times Index gained 10.29 points, or 0.51 percent,
Published 30 Nov, 2004 12:00am
Malaysian shares climb on ringgit talk

Malaysian shares climb on ringgit talk

Malaysia's key share index closed 0.8 percent up on Monday, its second straight day of gains, as foreign funds chased heavyweights like Maybank and Tenaga on persistent speculation of a ringgit revaluation. The benchmark 100-stock Kuala Lumpur Composite I
Published 30 Nov, 2004 12:00am
Nikkei closes higher as yen pauses, shippers lead

Nikkei closes higher as yen pauses, shippers lead

Japan's Nikkei average rose 1.33 percent on Monday, logging its biggest gain in two weeks as steel, shipping and trading firms climbed on views that booming demand and tight supply will boost their profits. A pause in the rise of the yen, which hit a 4-1/
Published 30 Nov, 2004 12:00am
Romania faces hung parliament risk after vote

Romania faces hung parliament risk after vote

Romania faced the prospect of a hung parliament on Monday as inconclusive results emerged from general elections in the poor Balkan country, already struggling to stay on track in its drive to join the European Union. Partial results from Sunday's poll sh
Published 30 Nov, 2004 12:00am
Nepal teachers' strike affect 5.5 million students

Nepal teachers' strike affect 5.5 million students

An unofficial strike by more than 24,000 part-time teachers closed school for 5.5 million students in the Himalayan kingdom of Nepal, a union official said Monday. The part-time teachers are "demanding permanent appointment", general secretary of the Teac
Published 30 Nov, 2004 12:00am
Italy braces for general strike

Italy braces for general strike

Millions of workers across Italy are set to walk off the job in a general strike on Tuesday, answering a call from the country's main unions to protest against Prime Minister Silvio Berlusconi's economic policies. Factories and offices across the country
Published 30 Nov, 2004 12:00am
Powerful quake injures 17 as Japan waits for the big one

Powerful quake injures 17 as Japan waits for the big one

A powerful earthquake measuring 7.1 on the Richter scale injured 17 people Monday in northern Japan in a new sign of seismic activity a month after the country's deadliest tremor in a decade. The quake jolted Japan's main northern island of Hokkaido at 3:
Published 30 Nov, 2004 12:00am
Bhutan's king may end last absolute Himalayan monarchy

Bhutan's king may end last absolute Himalayan monarchy

Bhutan's King Jigme Singye Wangchuck has handed over a draft constitution to the nation's parliament that could end his reign as the last Himalayan monarch to hold absolute power, official media reported Monday. The draft, containing 34 articles including
Published 30 Nov, 2004 12:00am
Sudan expels head of UK aid agency, warns another

Sudan expels head of UK aid agency, warns another

Sudan expelled the country director of Save the Children, accusing the British aid agency of breaching Sudanese law and interfering in domestic affairs, the Humanitarian Affairs Ministry and the agency said on Monday. Save the Children confirmed it had re
Published 30 Nov, 2004 12:00am
Dalai Lama arrives in Russia

Dalai Lama arrives in Russia

The Dalai Lama arrived Monday in Russia's Buddhist region of Kalmykia for a long-awaited visit that is certain to anger China. The revered 69-year-old Tibetan spiritual leader flew into Kalmykia at 1300 GMT from New Delhi. He was due to stay until Wednesd
Published 30 Nov, 2004 12:00am
Bird flu far more deadly than Sars, WHO says

Bird flu far more deadly than Sars, WHO says

The bird flu virus is far more lethal than the Sars virus that struck Asia last year and could unleash a pandemic that could kill as many as 50 million people, a World Health Organisation official said on Monday. A WHO estimate last week that H5N1 could i
Published 30 Nov, 2004 12:00am
Zambia freezes Chiluba's property

Zambia freezes Chiluba's property

Zambia has frozen properties owned by former President Frederick Chiluba and six former senior government officials in Britain and other countries abroad, a senior anti-graft official said on Monday. Mpazi Sinyangwe, the anti-corruption taskforce spokesma
Published 30 Nov, 2004 12:00am
Russia makes debt repayment breakthrough

Russia makes debt repayment breakthrough

Russia made a breakthrough on Monday in its drive to slash its foreign debt by winning German support for a proposal which would also help Berlin out of a budget squeeze. Finance Minister Alexei Kudrin said Russia, with cash piling up in an oil-funded bud
Published 30 Nov, 2004 12:00am
Chile to compensate victims of torture

Chile to compensate victims of torture

Chilean President Ricardo Lagos has said his government will pay compensation to about 35,000 victims of torture during the dictatorship of general Augusto Pinochet, who seized power in a coup in 1973. The payments will reach 112,000 pesos, or about 215 U
Published 30 Nov, 2004 12:00am
Fire breaks out at ex-KGB headquarters

Fire breaks out at ex-KGB headquarters

A small fire broke out Monday at the headquarters of the FSB (ex-KGB) headquarters in central Moscow, news agencies reported citing fire officials. The fire at the FSB head office on Lubyanka Square was reported shortly after 4:00 pm (1300 GMT) and engulf
Published 30 Nov, 2004 12:00am
Bangladeshi taka eases on import payments

Bangladeshi taka eases on import payments

The Bangladeshi taka ended slightly weaker on Monday on import payments, dealers said. The taka was quoted at 59.58/60.20 per US dollar, against 59.58/60.10 on Sunday, a working day in Bangladesh. Call rates ranged unchanged between 2.0 percent and 7.0 pe
Published 30 Nov, 2004 12:00am
Indian rupee at near seven-month closing peak

Indian rupee at near seven-month closing peak

The Indian rupee appreciated strongly on Monday to post a near-seven-month closing peak, helped by robust foreign capital and trade inflows and the absence of sustained central bank intervention, dealers said. The rupee closed at 44.8350/8450 per dollar,
Published 30 Nov, 2004 12:00am
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