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Print - 2004-12-03
Tunisia sets olive oil prices

Tunisia sets olive oil prices

Tunisia on Wednesday set farmgate olive oil prices 1,850 and 2,200 dinars ($1,541-$1,833) per tonne for the November 2004-October 2005 period. The state-run Office National de l' Hula said the price for super extra virgin would be at 2,200 dinars per tonn
Published 03 Dec, 2004 12:00am
Turkey starts writing IMF letter of intent

Turkey starts writing IMF letter of intent

Turkey has commenced writing a letter of intent on a new standby accord with the International Monetary Fund to replace a loan deal that expires in February, government economic officials told Reuters on Thursday. Talks between the fund and Turkey resumed
Published 03 Dec, 2004 12:00am
Easy condition continues in cotton market

Easy condition continues in cotton market

After a decline of about Rs 50 per maund (37.32 kgs) since the inception of this week, lint prices continued to show an easy tendency on Thursday. Seedcotton (kapas/phutti) prices also showed a sagging tendency. In the midst of this downsliding price move
Published 03 Dec, 2004 12:00am
Samsung faces growing concerns over margins

Samsung faces growing concerns over margins

Concern over falling profit margins at Samsung Electronics Co Ltd grew on Thursday as the company said it was spending more on handset marketing and a top broker issued a "sell" rating on its stock for the first time in years. Samsung, which overtook Moto
Published 03 Dec, 2004 12:00am
Easy condition continues in cotton market

Easy condition continues in cotton market

After a decline of about Rs 50 per maund (37.32 kgs) since the inception of this week, lint prices continued to show an easy tendency on Thursday. Seedcotton (kapas/phutti) prices also showed a sagging tendency. In the midst of this downsliding price move
Published 03 Dec, 2004 12:00am
China lashes out at US decision to impose duties on shrimp

China lashes out at US decision to impose duties on shrimp

China Thursday roundly condemned a United States decision to impose anti-dumping duties on shrimp of up to 133 percent, calling the move unfair and unhelpful. "Resorting to such anti-dumping measures that restrict the imports of shrimp products thoroughly
Published 03 Dec, 2004 12:00am
Oil cake market rates

Oil cake market rates

Downward trend was seen on the forward cottonseed oil-cake market on Thursday on strong supply position, dealers said. The December vaida commenced on the overnight level at Rs 401.50 and that proved to be day's lowest at the same rate. Later, it picked u
Published 03 Dec, 2004 12:00am
High oil prices stoke eurozone producer inflation

High oil prices stoke eurozone producer inflation

Eurozone producer prices surged in October, posting their biggest annual increase since February 2001 as soaring oil prices boosted energy costs, the European Union statistics office said on Thursday. Producer prices rose 0.7 percent from the previous mon
Published 03 Dec, 2004 12:00am
Firm trend witnessed on cotton market

Firm trend witnessed on cotton market

The wait-and-see mood prevailed on the cotton market on Thursday as most of the buyers were on the sidelines ahead of the Pakistan Cotton Ginners Association (PCGA) arrival figure report, dealers said. The official spot rate did not show any change in its
Published 03 Dec, 2004 12:00am
Kazakh head OKs buyout of foreign-held oil stakes

Kazakh head OKs buyout of foreign-held oil stakes

Kazakh President Nursultan Nazarbayev signed a bill into law on Thursday giving the state the right of first refusal when foreign firms are selling stakes in oil and minerals joint ventures. The amendments to the Central Asian state's subsoil law, earlier
Published 03 Dec, 2004 12:00am
Dry weather hits Kenyan tea production

Dry weather hits Kenyan tea production

Kenya's tea production fell in October 2004 compared to the same month the previous year, undermined by dry weather in key growing areas, the Tea Board of Kenya (TBK) said on Thursday. Kenya produced 27,423,830 kg of tea in October versus 31,597,015 kg of
Published 03 Dec, 2004 12:00am
Mandelson urges 'fresh start' with US on trade

Mandelson urges 'fresh start' with US on trade

The European Union's new trade chief called for a fresh push to end acrimonious trade spats between Europe and the United States on Thursday, arguing that strengthened transatlantic ties would spur economic growth. EU Trade Commissioner Peter Mandelson ur
Published 03 Dec, 2004 12:00am
Chemicals mixed on Jodia Bazar

Chemicals mixed on Jodia Bazar

Trading on chemical side showed mixed trend on Jodia Bazar on Thursday (December 02, 2004).
Published 03 Dec, 2004 12:00am
Vietnam donors pledge $3.4 billion for 2005

Vietnam donors pledge $3.4 billion for 2005

Donors increased aid pledges to communist Vietnam for 2005 to $3.4 billion on Thursday, up from $2.8 billion in 2004, while urging the government to battle graft, raise transparency and speed up legal reform. Despite healthy economic expansion of 7 percen
Published 03 Dec, 2004 12:00am
Comex copper higher on speculative buying

Comex copper higher on speculative buying

US copper futures ended with moderate gains on Wednesday as locals and a few speculators and funds added to their holdings by buying the modest dips of a day earlier, traders said. "It was quiet overall today. I think it was mostly local action. And the m
Published 03 Dec, 2004 12:00am
Reviving Palestinian economy critical: World Bank

Reviving Palestinian economy critical: World Bank

The Palestinian economy is unlikely to shake off its present stagnation without an easing of movements of goods and people to and from the territory, as well as a concerted commitment to security reform, the World Bank said on Wednesday. The Washington-ba
Published 03 Dec, 2004 12:00am
Tokyo gold at 12-year high after New York rally

Tokyo gold at 12-year high after New York rally

Tokyo gold futures rose on Thursday to their highest level in 12 years after prices in New York rallied to a 16-year high, although a soaring yen made investors wary of bidding up yen-based futures aggressively. The October contract on the Tokyo Commodity
Published 03 Dec, 2004 12:00am
General Motors Europe and labour make progress in job-cut talks

General Motors Europe and labour make progress in job-cut talks

General Motors and labour officials are nearing an initial accord on how the carmaker can cut 500 million euros ($667.3 million) from fixed costs in Europe while limiting the number of forced layoffs. "There are signs that things could be firming up," a s
Published 03 Dec, 2004 12:00am
New York gold ends firm but off highs, silver up

New York gold ends firm but off highs, silver up

Gold futures climbed but settled below a 16-year high on Wednesday, buoyed by the dollar near a record low versus the euro and silver's jump to an eight-month peak above $8 an ounce. A burst of technical fund buying at the start of the month drove metal p
Published 03 Dec, 2004 12:00am
Fund praises Pakistan's success under PRGF plans

Fund praises Pakistan's success under PRGF plans

International Monetary Fund (IMF) Executive Directors on Wednesday commended Pakistan on "the successful completion" of its arrangement under the Poverty Reduction and Growth Facility (PRGF). The IMF Executive Directors, who met on Wednesday welcomed Paki
Published 03 Dec, 2004 12:00am
Gold at 16-year high, tops $455 as dollar sinks

Gold at 16-year high, tops $455 as dollar sinks

Gold surged above $455 an ounce in Asian trading on Thursday to a fresh 16-year high, as declines in the US dollar raised the appeal of gold and other investments. Indeed, gold could gain a further $5 or more on Friday amid expectations for further dollar
Published 03 Dec, 2004 12:00am
Fund praises Pakistan's success under PRGF plans

Fund praises Pakistan's success under PRGF plans

International Monetary Fund (IMF) Executive Directors on Wednesday commended Pakistan on "the successful completion" of its arrangement under the Poverty Reduction and Growth Facility (PRGF). The IMF Executive Directors, who met on Wednesday welcomed Paki
Published 03 Dec, 2004 12:00am
Copper futures steady in Asia

Copper futures steady in Asia

Copper futures were steady in Asia on Thursday, reluctant to challenge the 6-week high reached last week but supported by a struggling US dollar and stocks near a 14-1/2-year low. The market took little notice of stronger-than-expected US manufacturing da
Published 03 Dec, 2004 12:00am
Debt market borrowings to be raised post IMF

Debt market borrowings to be raised post IMF

Prime Minister Shaukat Aziz said on Thursday Pakistan would look to increase borrowings from international debt markets now that its IMF loan programme was coming to an end. The International Monetary Fund on Wednesday completed its ninth and final review
Published 03 Dec, 2004 12:00am
Oil finds feet above $45 after 7.4 percent plunge

Oil finds feet above $45 after 7.4 percent plunge

Oil prices steadied above $45 a barrel on Thursday, attempting to put a floor under a 7.4 percent tumble after a big increase in US heating oil stocks eased worries of a winter supply squeeze. US crude oil futures were up 5 cents at $45.54, barely denting
Published 03 Dec, 2004 12:00am
Debt market borrowings to be raised post IMF

Debt market borrowings to be raised post IMF

Prime Minister Shaukat Aziz said on Thursday Pakistan would look to increase borrowings from international debt markets now that its IMF loan programme was coming to an end. The International Monetary Fund on Wednesday completed its ninth and final review
Published 03 Dec, 2004 12:00am
Vietnam told to focus on cocoa quality, not volume

Vietnam told to focus on cocoa quality, not volume

If Vietnam intends to be a serious player on the world cocoa market, it should aim initially to produce a limited amount of top quality beans, an industry official said on Thursday. "Vietnam has to focus on high quality cocoa beans to enter the market wit
Published 03 Dec, 2004 12:00am
Country needs $5 billion for power projects: Prime Minister

Country needs $5 billion for power projects: Prime Minister

Prime Minister Shaukat Aziz on Thursday said Pakistan was looking for an investment of over dollars five billion in the power generation projects, largely from private sector during next three to five years. He was reviewing private power generation poten
Published 03 Dec, 2004 12:00am
Sri Lankan tea slips

Sri Lankan tea slips

Sri Lankan tea prices fell at the latest auction as demand for most varieties sagged in tandem with lower quality, brokers said. The estimated gross sales average from the auction on Tuesday and Wednesday was 205.00 rupees ($2.00) per kg, a shade lower th
Published 03 Dec, 2004 12:00am
Country needs $5 billion for power projects: Prime Minister

Country needs $5 billion for power projects: Prime Minister

Prime Minister Shaukat Aziz on Thursday said Pakistan was looking for an investment of over dollars five billion in the power generation projects, largely from private sector during next three to five years. He was reviewing private power generation poten
Published 03 Dec, 2004 12:00am
Tokyo rubber ends mixed

Tokyo rubber ends mixed

Tokyo rubber futures finished slightly mixed on Thursday as some contracts regained ground on modest bargain hunting, but sentiment was bearish after the benchmark contract briefly breached a key support level. Rubber contracts fell at the pulled down by
Published 03 Dec, 2004 12:00am
Bears tighten grip on ISE

Bears tighten grip on ISE

Bears continued to stay in the front seat on the Islamabad Stock Exchange (ISE), where major players and profit-hunters offloaded their positions amid the decrease in index. ISE network index showed a decrease of 19.17 points as the rate-based indicator m
Published 03 Dec, 2004 12:00am
New York sugar futures post gains

New York sugar futures post gains

Raw sugar futures settled up and near session highs on Wednesday on late buying by small speculators, and brokers said they hope follow-through purchases could nudge the sweetener up tomorrow. The New York Board of Trade's key March raw sugar contract ros
Published 03 Dec, 2004 12:00am
Bears tighten grip on ISE

Bears tighten grip on ISE

Bears continued to stay in the front seat on the Islamabad Stock Exchange (ISE), where major players and profit-hunters offloaded their positions amid the decrease in index. ISE network index showed a decrease of 19.17 points as the rate-based indicator m
Published 03 Dec, 2004 12:00am
Soyabeans firm on mild recovery

Soyabeans firm on mild recovery

Soyabean futures at the Chicago Board of Trade rebound slightly on Wednesday after nearly a week of lower closes, traders said. CBOT soyabean futures were 1-1/4 to 3 cents per bushel higher by 10 am CST (1600 GMT). January was 1-3/4 cent higher at $5.36-1
Published 03 Dec, 2004 12:00am
LSE equities tumble

LSE equities tumble

Share prices pulled back on Lahore Stock Exchange (LSE), under the lead of PSO and other oil sector shares because of their disappointment due to no upward revision in prices of petroleum products, amid steady volume of transactions. The LSE-25 index retr
Published 03 Dec, 2004 12:00am
Malaysian tin ends flat

Malaysian tin ends flat

Malaysian tin ended flat on Thursday as players sought to cut a widening premium for the metal in Europe. Spot tin on the Kuala Lumpur Tin Market (KLTM) settled at $8,865 a tonne, unchanged from Wednesday. Volume totalled 35 tonnes, against 25 the previou
Published 03 Dec, 2004 12:00am
LSE equities tumble

LSE equities tumble

Share prices pulled back on Lahore Stock Exchange (LSE), under the lead of PSO and other oil sector shares because of their disappointment due to no upward revision in prices of petroleum products, amid steady volume of transactions. The LSE-25 index retr
Published 03 Dec, 2004 12:00am
Local demand, world glut hit Indian soyameal exports

Local demand, world glut hit Indian soyameal exports

Soyameal sales by India, Asia's leading exporter, are expected to remain subdued this year because of high prices driven by robust domestic demand and a big global crop, traders said on Thursday. The country, which mainly sells to Southeast Asia, has cont
Published 03 Dec, 2004 12:00am
No let-up in decline on KSE

No let-up in decline on KSE

Declines extended for third consecutive session and the index witnessed a paltry fall of 8 points where turnover was again on the lower side indicating investors were still at bay. The KSE-100 index fell 8 points, or 0.14 percent, to 5552.50 as compared w
Published 03 Dec, 2004 12:00am
Malaysian palm oil down at close on weak leads

Malaysian palm oil down at close on weak leads

Malaysian crude palm oil futures ended down on Thursday, surrendering gains, as a dearth of leads pushed players to sell by the close after hiking up prices in the morning. Trade was also light at 4,237 lots 25 tonnes each, compared with Wednesday's tally
Published 03 Dec, 2004 12:00am
No let-up in decline on KSE

No let-up in decline on KSE

Declines extended for third consecutive session and the index witnessed a paltry fall of 8 points where turnover was again on the lower side indicating investors were still at bay. The KSE-100 index fell 8 points, or 0.14 percent, to 5552.50 as compared w
Published 03 Dec, 2004 12:00am
US Treasury prices ease

US Treasury prices ease

US Treasury prices eased on Wednesday as strong manufacturing data, swooning oil prices and a rally in stocks reinforced a recent sell-off in longer-dated debt. But losses were relatively modest despite several bond-negative developments, mostly because t
Published 03 Dec, 2004 12:00am
CBR updates list of blacklisted units

CBR updates list of blacklisted units

The Central Board of Revenue (CBR) has updated the list of blacklisted units up to November 24, 2004 on the recommendations of collectors of sales tax. The names of over 2000 blacklisted units were issued here on Thursday, amending the previous list. The
Published 03 Dec, 2004 12:00am
US Treasury prices ease

US Treasury prices ease

US Treasury prices eased on Wednesday as strong manufacturing data, swooning oil prices and a rally in stocks reinforced a recent sell-off in longer-dated debt. But losses were relatively modest despite several bond-negative developments, mostly because t
Published 03 Dec, 2004 12:00am
CBR updates list of blacklisted units

CBR updates list of blacklisted units

The Central Board of Revenue (CBR) has updated the list of blacklisted units up to November 24, 2004 on the recommendations of collectors of sales tax. The names of over 2000 blacklisted units were issued here on Thursday, amending the previous list. The
Published 03 Dec, 2004 12:00am
Malaysian shares up

Malaysian shares up

Malaysian shares ended half a percent higher on Thursday, led by casino and power firm Genting and budget carrier AirAsia which jumped to its highest close since listing. Dealers said foreign investors showed some interest in AirAsia after oil had its big
Published 03 Dec, 2004 12:00am
Bourses told to defer Transfer Pricing Rule enforcement

Bourses told to defer Transfer Pricing Rule enforcement

The Securities Exchange Commission of Pakistan (SECP) has agreed with the contention of the Institute of Chartered Accountants Pakistan (ICAP) that Transfer Pricing is undertaken by companies for tax purposes, and is not part of the standard audit procedu
Published 03 Dec, 2004 12:00am
Hong Kong shares jump, China telecoms advance

Hong Kong shares jump, China telecoms advance

Hong Kong stocks ended 0.7 percent higher on Thursday, boosted by strong liquidity in the market and led by a robust performance by China telecoms plays. Hong Kong's blue-chip Hang Seng Index closed up 0.7 percent, or 98.99 points, at 14,261.79. Turnover
Published 03 Dec, 2004 12:00am
Bourses told to defer Transfer Pricing Rule enforcement

Bourses told to defer Transfer Pricing Rule enforcement

The Securities Exchange Commission of Pakistan (SECP) has agreed with the contention of the Institute of Chartered Accountants Pakistan (ICAP) that Transfer Pricing is undertaken by companies for tax purposes, and is not part of the standard audit procedu
Published 03 Dec, 2004 12:00am
US stocks make gains as oil slumps

US stocks make gains as oil slumps

US stocks shot higher on Wednesday as oil prices slumped more than $3 and economic data showed strength in the US manufacturing sector and personal spending. The raft of upbeat news pushed the broad S&P 500 to its highest close in nearly 3-1/2 years while
Published 03 Dec, 2004 12:00am
Poverty spending to be raised to 6 percent of GDP

Poverty spending to be raised to 6 percent of GDP

The government plans to increase poverty spending to 6 percent of the GDP in 2005-06 from 4.49 percent of 2001-02. The aim is to decrease poverty to 28 percent from 32.1 by 2005-06. The Poverty Reduction Strategy Paper (PRSP) expenditures or poverty spend
Published 03 Dec, 2004 12:00am
Indian shares scale new peak

Indian shares scale new peak

India's benchmark share index surged to a new closing high on Thursday, tracking global gains and powered by cheaper crude oil and strong foreign fund flows. Federal bonds rose as the sharp slide in crude oil prices led to hopes that fuel-price-led inflat
Published 03 Dec, 2004 12:00am
Poverty spending to be raised to 6 percent of GDP

Poverty spending to be raised to 6 percent of GDP

The government plans to increase poverty spending to 6 percent of the GDP in 2005-06 from 4.49 percent of 2001-02. The aim is to decrease poverty to 28 percent from 32.1 by 2005-06. The Poverty Reduction Strategy Paper (PRSP) expenditures or poverty spend
Published 03 Dec, 2004 12:00am
Jakarta index snaps 1,000 points for first time

Jakarta index snaps 1,000 points for first time

The Jakarta stock index broke the 1,000 points mark for the first time on Thursday, cheered by a positive economic outlook, weak US dollar and a fall in global oil prices, analysts said. Indonesia announced lower-than-expected inflation for November, rais
Published 03 Dec, 2004 12:00am
Setting up of federal commercial court need of hour: Wasi

Setting up of federal commercial court need of hour: Wasi

Federal Minister for Law and Parliamentary Affairs Wasi Zafar has said that setting up of Federal Commercial Court in the country has become need of the hour in the changing international scenario. He was addressing a reception hosted by All Pakistan Tax
Published 03 Dec, 2004 12:00am
Philippines shares slightly changed

Philippines shares slightly changed

Philippines mining stocks surged on Thursday after a court order reopened the sector to foreign players, but a drop in telecom stocks weighed on the overall market. Shares in number-one telecoms firms Philippine Long Distance Telephone Co (PLDT) and secon
Published 03 Dec, 2004 12:00am
Body to examine customs valuation issue

Body to examine customs valuation issue

The Central Board of Revenue (CBR) has constituted a committee for properly examining the 'valuation issue' taking into account national obligations for the enforcement of WTO Agreement on Valuation by March 31, 2005.
Published 03 Dec, 2004 12:00am
Thai stocks surge on sustained fund inflows

Thai stocks surge on sustained fund inflows

Thai stocks rose 0.86 percent on Thursday as gains on other Asian bourses and signs of sustained fund inflows encouraged investors to buy shares in the telecoms and banking sectors, analysts said. The benchmark Stock Exchange of Thailand composite index r
Published 03 Dec, 2004 12:00am
Talks begin to restore Khokhrapar rail link

Talks begin to restore Khokhrapar rail link

Pakistan and India held the first round of two-day secretary level talks on restoring a second rail link between the two countries here on Thursday, whereas a joint declaration is expected on Friday. According to details, railway officials from both count
Published 03 Dec, 2004 12:00am
Nikkei rises with Wall Street, ignoring yen

Nikkei rises with Wall Street, ignoring yen

The Nikkei share average notched up its biggest daily gain in two weeks on Thursday as investors took a rally in US stocks as a signal to buy, shrugging off the yen's rise to its highest level in nearly five years. The Nikkei jumped 1.75 percent after bar
Published 03 Dec, 2004 12:00am
Talks begin to restore Khokhrapar rail link

Talks begin to restore Khokhrapar rail link

Pakistan and India held the first round of two-day secretary level talks on restoring a second rail link between the two countries here on Thursday, whereas a joint declaration is expected on Friday. According to details, railway officials from both count
Published 03 Dec, 2004 12:00am
Sri Lankan stocks down

Sri Lankan stocks down

Sri Lankan stocks ended lower on Thursday in low volume trade as investors kept away from trade after this week's biggest IPO since 2002, brokers said. The key Colombo all-share index fell a provisional 0.62 percent, or 9.17 points, to 1,480.31 points. Th
Published 03 Dec, 2004 12:00am
Singapore shares soar

Singapore shares soar

Singapore shares rose over a percent to end at a 4-year high on Thursday, led by transport and technology stocks, following a sharp fall in oil prices and a rally on Wall Street. Singapore Airlines rose about 2 percent to S$11.10 in response to Wednesday'
Published 03 Dec, 2004 12:00am
NCGC offers post-doctorate scholarships

NCGC offers post-doctorate scholarships

The scholars, who secured Ph.D. degrees during the past five years, would be offered post-doctorate scholarships, and would also be given a sum of Rs 100,000. The Higher Education Commission's (HEC) project of National Core Group for Chemistry (NCGC) had
Published 03 Dec, 2004 12:00am
TC-Scan machine to be operative at Port Qasim from January 2005

TC-Scan machine to be operative at Port Qasim from January 2005

A machine to scan export cargo will be commissioned at Port Qasim in January 2005. Dry Port Director Ghulam Akbar Niazi and Deputy Director Lieutenant Colonel Mobashir Hussain Tarar told a press conference here on Wednesday that the TC-Scan RMG, a cargo i
Published 03 Dec, 2004 12:00am
US priority to Pakistani students appreciated

US priority to Pakistani students appreciated

The Pakistani-American community on Tuesday expressed its gratitude to the United States government for attaching importance to the matter of students from Pakistan. In this behalf, the community representatives drew attention towards the thought-provokin
Published 03 Dec, 2004 12:00am
UN panel calls for resolving Kashmir and Palestine disputes

UN panel calls for resolving Kashmir and Palestine disputes

A panel of the United Nations eminent persons which recommended far-reaching reforms to revamp and boost the ability of the world body on Tuesday called on the world body to "redouble its efforts' to resolve festering Kashmir, Palestine and Korean peninsu
Published 03 Dec, 2004 12:00am
Azad Kashmir's oldest woman dies

Azad Kashmir's oldest woman dies

The Azad Kashmir oldest lady Mst Muhammad Begum died here on Wednesday night after brief illness at the age of 110 years. Muhammad Begum, famously known as Bey Daadi, belonged to village Thakrey Chak of Kharri Sharif- adjacent to Mirpur City. "Bay Daadi w
Published 03 Dec, 2004 12:00am
Pindi-Islamabad shuttle bus service under study

Pindi-Islamabad shuttle bus service under study

State Minister for Railways Ishaq Khan Khawani has said his organisation will look seriously into the possibilities of starting shuttle bus service between the Federal capital and Rawalpindi station for the benefit of rail travellers. Talking to newsmen h
Published 03 Dec, 2004 12:00am
Rashid hails launching of CNBC in Pakistan

Rashid hails launching of CNBC in Pakistan

Minister for Information and Broadcasting Sheikh Rashid Ahmad on Wednesday has welcomed the agreement regarding start of transmissions of Consumer News and Business Channel (CNBC) Pakistan. Talking to the PTV from London by telephone, the Information Mini
Published 03 Dec, 2004 12:00am
Pakistan coach has a plan to tire out Australian bowlers: Woolmer

Pakistan coach has a plan to tire out Australian bowlers: Woolmer

Pakistan cricket coach Bob Woolmer has a game plan for his team's three-Test series against Australia - play with some attacking flair in an effort to tire out the home team's bowlers. The Australian pace trio of Glenn McGrath, Jason Gillespie and Michael
Published 03 Dec, 2004 12:00am
Harbhajan helps India clinch series against South Africa

Harbhajan helps India clinch series against South Africa

Harbhajan Singh starred in a resounding eight-wicket victory over South Africa that helped India win the two-Test series here on Thursday. The off-spinner grabbed 7-87 to block all escape routes for the visiting side, who managed to draw the first match i
Published 03 Dec, 2004 12:00am
Spaniard coach dreams a final against Pakistan

Spaniard coach dreams a final against Pakistan

Spain hockey coach, Maurits Hendricks has termed hosts Pakistan and defending Champion Holland as favourites but he is dreaming a final of the Champions Ttrophy hockey tournament between Spain and Pakistan. "I wouldn't mind playing final against Pakistan.
Published 03 Dec, 2004 12:00am
ICC probe alleged Kenyan match-fixing

ICC probe alleged Kenyan match-fixing

A two-man team from the International Cricket Council (ICC) Anti-Corruption and Security Unit, in Kenya to interview players over match-fixing allegations, will make recommendations to the ICC to decide the next course of action. Martin Hawkins and Alan P
Published 03 Dec, 2004 12:00am
India in ICC top three for first time

India in ICC top three for first time

India have broken into the top three in the International Cricket Council's Test Championship table for the first time since the ranking system was introduced three and a half years ago. A 1-0 home series win over South Africa, clinched by Harbhajan Singh
Published 03 Dec, 2004 12:00am
PHF signs co-sponsorship deal with 7up

PHF signs co-sponsorship deal with 7up

Pakistan Hockey Federation on Thursday signed co-sponsorship deal with 7up for the Champions Trophy hockey tournament commencing here from December 4 at National Hockey Stadium. The deal was signed between Secretary, PHF Brigadier (Retd) Masarratulllah Kh
Published 03 Dec, 2004 12:00am
Pakistan hockey team management hope to overcome inconsistency

Pakistan hockey team management hope to overcome inconsistency

Pakistan hockey team management is hoping that their side will overcome inconsistency in the Champions Trophy hockey to remove the tag of a team not able to win a title. "We have been struggling for quite a long time to win Champions Trophy and now we are
Published 03 Dec, 2004 12:00am
Hong Kong dollar edges higher

Hong Kong dollar edges higher

The Hong Kong dollar edged higher on Thursday as a string of initial public offerings in the territory attracted a fresh inflow of funds, and as dollar sentiment remained weak. The local currency rose to a near one-week high of 7.7717 in early morning tra
Published 03 Dec, 2004 12:00am
Chinese yuan notches lower

Chinese yuan notches lower

The yuan ended one notch lower at 8.2764 per US dollar on Thursday, near the stronger end of its managed trading range. The one-year non-deliverable dollar forward discount versus the yuan was at 4,250 points implying a rate of 7.853 yuan per dollar in 12
Published 03 Dec, 2004 12:00am
Indian rupee surges 0.76 percent to seven-month closing peak

Indian rupee surges 0.76 percent to seven-month closing peak

The Indian rupee extended its rally into a sixth straight session on Thursday, surging 0.76 percent to a new seven-month closing peak on a flood of foreign investment and trade inflows. The rupee closed at 44.1050/1250 per dollar, but off a 44.05 peak fol
Published 03 Dec, 2004 12:00am
Dollar slides to lows versus euro and yen

Dollar slides to lows versus euro and yen

The dollar sank to a record low against the euro and fell to its lowest level since March 2000 versus the yen on Thursday as traders played down the chances of joint market intervention by European and Japanese authorities. Japan's top currency policy off
Published 03 Dec, 2004 12:00am
Dollar falls to new record low versus euro

Dollar falls to new record low versus euro

The dollar fell on Wednesday, as traders ignored fairly robust US economic reports and instead focused on the currency's long-term negatives, sending the currency to a record low against the euro. In thin, late New York trade, the euro surged to a new rec
Published 03 Dec, 2004 12:00am
Bangladeshi taka dips on dollar demand for imports

Bangladeshi taka dips on dollar demand for imports

The Bangladeshi taka dipped further on Thursday amid robust demand for US dollars for import payments ahead of local Friday weekend, dealers said. The taka was quoted at 59.61/60.70 per dollar, against 59.61/60.58 on Wednesday. Call rates were unchanged b
Published 03 Dec, 2004 12:00am
Most Asian currencies surge after oil prices plunge

Most Asian currencies surge after oil prices plunge

The Taiwan dollar surged to a four-year high on Thursday, outperforming most other Asian currencies, after a plunge in oil prices bolstered the outlook for oil-importing Asian economies. The 7.5 percent drop in oil prices in New York on Wednesday led over
Published 03 Dec, 2004 12:00am
Swiss franc ends fresh gains

Swiss franc ends fresh gains

The Swiss franc notched up fresh gains against the US dollar on Thursday as solid US economic data failed to dispel increasingly gloomy sentiment over the outlook for the greenback. The dollar last changed hands at 1.1379/83 francs, compared to 1.1441/45
Published 03 Dec, 2004 12:00am
Australian dollar firmer

Australian dollar firmer

The Australian dollar straddled 78 US cents late on Thursday in calmer trade after recent volatile sessions. The Aussie survived another dip to just under 77 US cents offshore, suggesting this week's steep slide in the currency may have run its course for
Published 03 Dec, 2004 12:00am
Canadian dollar rises

Canadian dollar rises

The Canadian dollar drifted higher on Wednesday against a weakening greenback as traders tried to get a sense of where the market wanted to go ahead of Friday's jobs data and next week's Bank of Canada interest rate decision. The currency finished at C$1.
Published 03 Dec, 2004 12:00am
Toll in Philippine floods tops 1,000

Toll in Philippine floods tops 1,000

More than 1,000 people have been killed or are missing after mudslides and flash floods devastated three coastal towns in the Philippines, a military spokesman said on Thursday. Residents of towns hit by floods have now fled to higher ground to escape an
Published 03 Dec, 2004 12:00am
Iraq elections should not be postponed, says Bush

Iraq elections should not be postponed, says Bush

President George W. Bush said on Thursday that elections in Iraq should not be postponed and a 12,000-troop increase in the US presence there was aimed at bolstering security before January elections. "The elections should not be postponed. It's time for
Published 03 Dec, 2004 12:00am
Sweden's top court confirms life for Lindh killer

Sweden's top court confirms life for Lindh killer

The confessed killer of Swedish Foreign Minister Anna Lindh had his life jail sentence confirmed by the Supreme Court on Thursday after he appealed for leniency saying he was mentally ill when he stabbed her. Mijailo Mijailovic, the 25-year-old son of Ser
Published 03 Dec, 2004 12:00am
Polls should be open and fair: Bush

Polls should be open and fair: Bush

President George W. Bush said on Thursday that any new election in Ukraine should be "open and fair" and free of foreign influence. "I think any election, if there is one, ought to be free from any foreign influence. These elections ought to be open and f
Published 03 Dec, 2004 12:00am
Putin opposes Ukraine opposition election plan

Putin opposes Ukraine opposition election plan

Russian President Vladimir Putin threw his weight on Thursday behind Ukraine's outgoing president in his bid to block a quick rerun of disputed presidential polls that the country's opposition thinks would bring it victory. At a meeting with President Leo
Published 03 Dec, 2004 12:00am
Bhopal victims commemorate 20th anniversary of disaster

Bhopal victims commemorate 20th anniversary of disaster

A series of torchlight rallies and vigils were held after darkness fell on this central Indian city Thursday as victims and activists jointly commemorated a night of horror 20 years ago when lethal gas leaked from a pesticide plant and killed thousands. I
Published 03 Dec, 2004 12:00am
Spy plane crashes into school in Afghanistan

Spy plane crashes into school in Afghanistan

An unmanned spy plane believed to be operated by a US security firm crashed into a school in the Afghan capital Kabul without causing any casualties, an eyewitness and sources told AFP Thursday. The unmanned 1.5 meter (yard) long drone smashed into a wind
Published 03 Dec, 2004 12:00am
EU gives 140 million euros to help clear landmines

EU gives 140 million euros to help clear landmines

The European Union's executive arm on Thursday pledged 140 million euros (186 million dollars) towards eliminating anti-personnel landmines around the world. The money was announced to coincide with the conclusion Friday of a conference in the Kenyan capi
Published 03 Dec, 2004 12:00am
Bush chooses new agriculture secretary

Bush chooses new agriculture secretary

President George W. Bush turned to Nebraska Gov. Mike Johanns - a surprise choice - as his new agriculture secretary on Thursday. Johanns, 54, is a Republican now serving his second term as governor. As governor, he provided $85 million in property tax re
Published 03 Dec, 2004 12:00am
British parliamentarian wins libel case over Iraq allegations

British parliamentarian wins libel case over Iraq allegations

British parliamentarian George Galloway, one of the most outspoken critics of war in Iraq, won a libel battle with the Daily Telegraph newspaper on Thursday over its allegations that he was "in the pay" of Saddam Hussein. High Court judge David Eady said
Published 03 Dec, 2004 12:00am
Sri Lanka shuts rebel border

Sri Lanka shuts rebel border

Sri Lanka's army closed off entry points to areas controlled by Tamil Tiger rebels on Thursday for the first day since a 2002 cease-fire after Red Cross officials said they feared for their safety amid sporadic violence. The surprise move left up to 25,00
Published 03 Dec, 2004 12:00am
Iran nabs another nuclear 'spy'

Iran nabs another nuclear 'spy'

Iran's intelligence ministry has announced the arrest of a "spy" accused of setting up a fake nuclear company as part of a bizarre international plot to damage the Islamic republic's reputation, press reports said Thursday. "Asghar C., who has a past of s
Published 03 Dec, 2004 12:00am
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