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Print - 2005-01-25
Oil rally pushes past $49 as blizzard hits US

Oil rally pushes past $49 as blizzard hits US

Rallying oil prices climbed to within a dollar of $50 a barrel early on Monday as a blizzard enveloped the US Northeast, boosting demand for heating oil. Uncertainty ahead of Sunday's Iraqi elections and Opec meeting also kept prices near an eight-week hi
Published 25 Jan, 2005 12:00am
Asian crude: March Murban steady ahead of allocation

Asian crude: March Murban steady ahead of allocation

Several spot cargoes of Murban crude for March-lifting were still available on Monday as traders waited for the March term allocations of Abu Dhabi grades, while most other Middle East grades had been sold, traders said. Four or five March Murban cargoes,
Published 25 Jan, 2005 12:00am
Kazakhstan sees higher grain crop, exports

Kazakhstan sees higher grain crop, exports

Kazakhstan's grain crop is set to rise this year from 12.4 million tonnes in 2004 as it enjoys favourable weather, and exports may surge nearly 80 percent to 5.0 million tonnes, the agriculture ministry said. The vast steppe nation of 15 million, Central
Published 25 Jan, 2005 12:00am
East Asian grains: active buying seen on falling prices

East Asian grains: active buying seen on falling prices

East Asian importers will likely have a strong appetite for corn and soybeans this week, taking advantage of lower prices, before business slows for the Lunar New Year holiday in February, traders said. In South Korea, the Major Feedmill Group (MFG) is se
Published 25 Jan, 2005 12:00am
Singapore oil swaps post gains on strong demand

Singapore oil swaps post gains on strong demand

Singapore oil swaps rose on Monday, taking a cue from stronger US crude futures, but fuel oil's discount to Middle East Dubai crude deepened under the weight of heavy supply. Brokers quoted February fuel oil at $198 a tonne, up from $195.60 on Thursday. S
Published 25 Jan, 2005 12:00am
Malaysian tin up 3 percent on LME gains

Malaysian tin up 3 percent on LME gains

Tin rose 3 percent in Malaysian trade on Monday, spurred by last week's higher close in London. Spot tin on the Kuala Lumpur Tin Market closed up $220 at $7,750 a tonne, on volume of 65 tonnes. It had risen $70, or 1 percent, at its last session on Thursd
Published 25 Jan, 2005 12:00am
Shanghai copper up on low China, London stocks

Shanghai copper up on low China, London stocks

Low inventory figures published by the Shanghai and London exchanges lifted Chinese copper futures, which flirted with their daily trading limits on Monday. London Metal Exchange copper warehouse stocks fell by 150 tonnes to 43,475 tonnes on Friday, their
Published 25 Jan, 2005 12:00am
Malaysian palm oil rallies

Malaysian palm oil rallies

Short-covering after recent selling, as well as expectations of good exports for January, fuelled a rally in Malaysian palm oil futures on Monday after a slow start. The benchmark third-month crude palm oil contract on Bursa Malaysia Derivatives, April, e
Published 25 Jan, 2005 12:00am
Malaysian palm oil output seen falling

Malaysian palm oil output seen falling

Malaysia's palm oil output is expected to fall by about 8 percent to around 1.21 million tonnes in January from a month ago, a Reuters poll of leading plantation firms showed on Monday. Production in December officially stood at 1,313,679 tonnes. Analysts
Published 25 Jan, 2005 12:00am
India looking for white sugar

India looking for white sugar

India was said to be inquiring about a cargo or two of white sugar, but business was subdued on the whole given the recent firmness in prices, brokers said Monday. "There was an inquiry for 40,000 to 50,000 tonnes of ICUMSA 45 whites. It might be India or
Published 25 Jan, 2005 12:00am
Oil cake market rates

Oil cake market rates

The January vaida remained unchanged while the March vaida lost 70 paisa on improved trading on Tuesday, dealers said. The March vaida commenced the week on firm note, showing no change at Rs 398.50. In the process of trading it gained rupee one to be day
Published 25 Jan, 2005 12:00am
Cotton begins new week with higher prices

Cotton begins new week with higher prices

The new week started with higher cotton prices during the post-holiday session on Monday though the main participants were engaged in Eid greeting, dealers said. The official spot rate held its last week's level at Rs 2075, without upcountry expenses, dea
Published 25 Jan, 2005 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 unchanged on Monday, with country movement steady, merchants said. Premiums paid for railcar wheat through Kansas City continued to drop amid an influx of South Dakota wheat coming into the marke
Published 25 Jan, 2005 12:00am
Wheat and rice prices up, Guwar sharply lower

Wheat and rice prices up, Guwar sharply lower

Steadier trend persisted in the local grain market on Monday as most of the traders were bus in exchanging Eid greetings, dealers said. On the cereals side, wheat Mexipak both old and new managed to pick up rupees five on rising demand at Rs 1215-1225.
Published 25 Jan, 2005 12:00am
EU optimistic on solving Russia's food export row

EU optimistic on solving Russia's food export row

The EU is confident of striking a deal with Russia to avoid wider restrictions on its plant and vegetable exports but first wants to see Moscow relax bans on individual EU countries, its food safety chief said on Monday. Russia has banned imports of a str
Published 25 Jan, 2005 12:00am
US Midwest corn and soyabean bids firmer

US Midwest corn and soyabean bids firmer

US Midwest interior spot corn and soyabean basis bids were mostly steady to firm early Monday on a lack of farmer grain sales and steady domestic demand, while river bids dropped, dealers said. "Farmers are waiting to sell their grain until CBOT corn pric
Published 25 Jan, 2005 12:00am
Thai sugar premiums seen steady, new offers thin

Thai sugar premiums seen steady, new offers thin

Thai sugar premiums are expected to hold onto recent gains over the next few days, backed by expectations of a smaller 2004/05 crop with new offers remaining thin, traders said on Monday. Thai raw sugar premiums for March-May shipment were at 132/142 poin
Published 25 Jan, 2005 12:00am
India's oilseeds, grain output forecast to fall

India's oilseeds, grain output forecast to fall

India on Monday forecast a sharply lower grains output and a marginal dip in oilseeds due to poor rains but the country is unlikely to face food shortages or see a spurt in edible oil imports. A government statement said on Monday total grains output in 2
Published 25 Jan, 2005 12:00am
Copper supply boom seen adding 7 percent to China fees

Copper supply boom seen adding 7 percent to China fees

China's copper smelters, already getting record high fees for turning raw materials into metal for the country's fast-growing economy, will receive 7 percent more in the next few weeks as supply outstrips demand, smelter officials said. New and expanded m
Published 25 Jan, 2005 12:00am
Algeria seeks to buy wheat

Algeria seeks to buy wheat

Algeria's state grains agency OAIC has issued a tender to buy 50,000 tonnes of milling wheat, traders said on Monday. The bidding deadline is Wednesday, while shipment periods are open to negotiation and the grain can be from any origin. Algeria has recen
Published 25 Jan, 2005 12:00am
France has 117,000 tonnes wheat offers

France has 117,000 tonnes wheat offers

French grain office ONIC has received offers to sell 117,000 tonnes of wheat into intervention stores in the past week, ONIC figures showed on Monday. Grain offers now totalled of 427,100 tonnes, comprising 307,200 tonnes of wheat, 98,800 tonnes of barley
Published 25 Jan, 2005 12:00am
German grain offers reach 2,012,000 tonnes

German grain offers reach 2,012,000 tonnes

German farmers have offered about 2,012,000 tonnes of grain for European Union intervention subsidies, up some 129,000 tonnes in the past two weeks, an official at state buying agency BLE said on Monday. The total included about 1,232,000 tonnes of barley
Published 25 Jan, 2005 12:00am
Thai rice futures up on speculative buying

Thai rice futures up on speculative buying

Most Thai rice futures ended higher on Monday as speculators bought contracts on hopes that prices will keep rising as supply tightens, brokers said. Trading was brisk with 173 contracts of 5 percent white rice traded compared to 62 contracts on Friday. T
Published 25 Jan, 2005 12:00am
Russians consuming less sugar for liquor, jams

Russians consuming less sugar for liquor, jams

Top sugar buyer Russia will consume less of the sweetener in 2005, as rising incomes mean Russians make less moonshine liquor and fruit jams at home, while the population keeps dwindling, analysts said on Monday. A report by the Institute for Agricultural
Published 25 Jan, 2005 12:00am
Brazil sees record cane crop, strong demand

Brazil sees record cane crop, strong demand

Brazil's sugar and ethanol industry expects another record sugar cane crop this year in the main center-south region, as well as continued firm prices due to strong demand. Analysts, brokers and producers forecast cane output of between 350 million and 36
Published 25 Jan, 2005 12:00am
Australian Kagara raises quarterly zinc, lead output

Australian Kagara raises quarterly zinc, lead output

Australia's Kagara Zinc Ltd said on Monday it beat internal targets to produce more zinc and lead in the fourth quarter after upgrading an ore treatment plant. Kagara, which last year cancelled costly plans to build a new plant in favour of modifying an o
Published 25 Jan, 2005 12:00am
Singapore bunker fuel prices up

Singapore bunker fuel prices up

Singapore bunker prices rose on Monday, tracking higher fuel oil cargo values. Bunker fuel of 380-centistoke (cst) grade was pegged at $193-$195 a tonne, up $6 from the previous trading day with the premium to cargo levels narrowing by $4.13 to $6.75 a to
Published 25 Jan, 2005 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 63,771 tonnes of cargo including 43,618 tonnes import and 20,153 tonnes export cargo during last 24 hours ending at 0700 hours on Monday. The cargo comprised of 14,159 tonnes dry cargo including 7,712 tonnes general cargo; 6,447 t
Published 25 Jan, 2005 12:00am
Finland's Alma proposes to sell TV unit to top owners

Finland's Alma proposes to sell TV unit to top owners

Finland's Alma Media proposed to sell its broadcasting unit to top owners Sweden's Bonnier and Proventus for 460 million euros ($597.6 million) in a move seen burying Norwegian rival Schibsted's bid for the media house. Analysts said the move would be ver
Published 25 Jan, 2005 12:00am
Foreign exchange may be greater risk than UK housing

Foreign exchange may be greater risk than UK housing

The dollar's slide late last year may have overtaken house prices as the most important asset price development facing the Bank of England, Monetary Policy Committee member Kate Barker said on Monday. In a speech to the Institute of Economic Affairs, Bark
Published 25 Jan, 2005 12:00am
Emap expects to meet full-year view

Emap expects to meet full-year view

British media group Emap Plc said circulation and advertising revenue for its UK consumer magazines were good at the start of 2005 as it told investors it should meet forecasts for the year to the end of March. The publisher of men's magazines FHM and Zoo
Published 25 Jan, 2005 12:00am
Bank Al Habib announces PLS profit rates

Bank Al Habib announces PLS profit rates

Bank Al Habib limited has announced the rates of profit on PLS deposits for the period of six months ended on 31st December 2004.

Published 25 Jan, 2005 12:00am
Russia mulling Syrian debt write-off

Russia mulling Syrian debt write-off

Russia is considering writing off up to 90 percent of Soviet-era debts owed by Syria, but it is not clear whether a deal will be struck during a visit by President Bashar al-Assad starting on Monday. A Finance Ministry source confirmed talks had taken pla
Published 25 Jan, 2005 12:00am
LG.Philips fourth quarter profit tumbles

LG.Philips fourth quarter profit tumbles

LG.Philips LCD Co Ltd, the world's second-biggest flat-screen maker, reported a 94 percent fall in quarterly profits on Monday as a supply glut depressed prices. But the company avoided the loss expected by analysts and forecast a recovery this year after
Published 25 Jan, 2005 12:00am
LG.Philips fourth quarter profit tumbles

LG.Philips fourth quarter profit tumbles

LG.Philips LCD Co Ltd, the world's second-biggest flat-screen maker, reported a 94 percent fall in quarterly profits on Monday as a supply glut depressed prices. But the company avoided the loss expected by analysts and forecast a recovery this year after
Published 25 Jan, 2005 12:00am
One product, 25 states, one label: EU proposal

One product, 25 states, one label: EU proposal

Labels on packaged goods sold in the EU should be standardised to make life simpler for consumers and industry, the EU executive proposed on Monday. Living up to its aim of cutting red tape in the European Union to help revive economic growth, the Europea
Published 25 Jan, 2005 12:00am
Government plans help for British first homebuyers

Government plans help for British first homebuyers

Young British house buyers and workers in key but lower-paid sectors such as nursing are to be helped getting into the pricey property market in a government initiative to be launched on Monday. The Labour party, which inherited a rising market when it ca
Published 25 Jan, 2005 12:00am
Canadian retail sales dip

Canadian retail sales dip

Canadian retail sales dipped 0.1 percent to C$29.53 billion ($24.20 billion) in November but would have been unchanged from October if autos were excluded, Statistics Canada said on Monday. Excluding the auto sector, retail sales were virtually unchanged
Published 25 Jan, 2005 12:00am
France wants G7 to discuss dollar weakness

France wants G7 to discuss dollar weakness

Europe has shouldered too much of the burden of recent currency adjustments and wants the Group of Seven economic powers to address the US dollar's weakness, French Finance Minister Herve Gaymard said on Monday. He told journalists the dollar's weakness w
Published 25 Jan, 2005 12:00am
Microsoft won't appeal EU ruling on sanctions

Microsoft won't appeal EU ruling on sanctions

Microsoft Corp said on Monday it would not appeal a European Union court order to immediately implement antitrust sanctions, but that it remained optimistic it would eventually prevail in its main case. In December, the software giant lost a bid to delay
Published 25 Jan, 2005 12:00am
Industrial orders rise

Industrial orders rise

New industrial orders in the 12-nation eurozone rose by 1.7 percent in November from October, spurred on by strong orders for France's aerospace industry, the European Union statistics agency said on Monday. Orders for transport equipment, which include t
Published 25 Jan, 2005 12:00am
Eurozone recovery back on track

Eurozone recovery back on track

The eurozone's economic recovery is back on track, with inflation set to dip below 2 percent while growth picks up to its long-term cruising speed, European Central Bank Chief Economist Otmar Issing said on Monday. Economists expect the ECB to keep its ma
Published 25 Jan, 2005 12:00am
Over $1 billion fuel smuggled out annually: Iran

Over $1 billion fuel smuggled out annually: Iran

More than $1 billion-worth of gasoline and other oil products is smuggled out of Iran each year, the government spokesman said on Monday, criticising parliament for maintaining heavy fuel subsidies. Iran's hard-line-dominated parliament, which draws suppo
Published 25 Jan, 2005 12:00am
High oil price eases threat of Opec supply cut

High oil price eases threat of Opec supply cut

Strong prices mean Opec oil producers meeting later this week may be able to resist cutting output even though world supplies are running in excess of demand, cartel ministers said on Monday. "On our oversupply there are different figures, but everyone ag
Published 25 Jan, 2005 12:00am
France Telecom offers to buy out rest of Equant

France Telecom offers to buy out rest of Equant

France Telecom is to buy the 46 percent it does not already own in Equant for 564 million euros ($732.7 million), to shore up finances at the high-speed communications network and improve its offering to business customers. France Telecom said on Monday i
Published 25 Jan, 2005 12:00am
France Telecom offers to buy out rest of Equant

France Telecom offers to buy out rest of Equant

France Telecom is to buy the 46 percent it does not already own in Equant for 564 million euros ($732.7 million), to shore up finances at the high-speed communications network and improve its offering to business customers. France Telecom said on Monday i
Published 25 Jan, 2005 12:00am
China's Huawei challenges Western telecoms

China's Huawei challenges Western telecoms

When a young company's headquarters resemble a small city, chances are it has big plans. China's largest telecoms equipment maker, Huawei Technologies, boasts a sprawling, 11.3-square-kilometre (4.4-square-mile) complex in the southern boomtown of Shenzhe
Published 25 Jan, 2005 12:00am
China's Huawei challenges Western telecoms

China's Huawei challenges Western telecoms

When a young company's headquarters resemble a small city, chances are it has big plans. China's largest telecoms equipment maker, Huawei Technologies, boasts a sprawling, 11.3-square-kilometre (4.4-square-mile) complex in the southern boomtown of Shenzhe
Published 25 Jan, 2005 12:00am
Toyota CEO named as businessman of the year

Toyota CEO named as businessman of the year

Fujio Cho, the head of Toyota, was named Monday as Asia Businessman of the Year 2005 by Fortune for what the magazine called his near flawless execution of the company's global expansion. Cho, who has spent his entire career at the Japanese auto maker app
Published 25 Jan, 2005 12:00am
Two Chinese banks give up listing in New York

Two Chinese banks give up listing in New York

Bank of China and China Construction Bank, two of the country's four largest lenders, have given up plans to list in New York as they cannot meet US corporate governance requirements, state media said Monday. The two banks, both entangled in large-scale f
Published 25 Jan, 2005 12:00am
Two Chinese banks give up listing in New York

Two Chinese banks give up listing in New York

Bank of China and China Construction Bank, two of the country's four largest lenders, have given up plans to list in New York as they cannot meet US corporate governance requirements, state media said Monday. The two banks, both entangled in large-scale f
Published 25 Jan, 2005 12:00am
Central bankers shifting funds from US to eurozone: study

Central bankers shifting funds from US to eurozone: study

Central banks have shifted reserves towards the eurozone, according to a study published Monday, in a move that could make it harder for President George W. Bush to finance the record US current account deficit. "While central banks will continue to some
Published 25 Jan, 2005 12:00am
Indonesian shares close lower

Indonesian shares close lower

Indonesian share prices closed 0.49 percent lower on Monday on foreign-led profit-taking focused on telecoms stocks and car-dealer Astra International, dealers said. They said some foreign investors may have also reduced their positions to release cash ah
Published 25 Jan, 2005 12:00am
Malaysian shares decline

Malaysian shares decline

Malaysian share prices closed 0.70 percent lower in cautious trade on Monday as concerns over likely interest rate hikes by the US Federal Reserve dampened local buying interest, dealers said. They said falls on Wall Street on Friday and mixed earnings re
Published 25 Jan, 2005 12:00am
Singapore stocks sag on profit-taking, Wall Street falls

Singapore stocks sag on profit-taking, Wall Street falls

Singapore stocks closed 0.54 percent lower on Monday on profit-taking as they tracked a decline in Wall Street at the end of last week, dealers said. They said the market was seeing some profit-taking following strong gains since the beginning of the year
Published 25 Jan, 2005 12:00am
Taiwan stocks drop, fearing earnings shock

Taiwan stocks drop, fearing earnings shock

Taiwan stocks dropped 1.32 percent on Monday to end at the lowest close in nearly 3 months on weak US markets and fears of unwelcome surprises when listed firms report fourth quarter earnings this week and next. The TAIEX share index ended the day with a
Published 25 Jan, 2005 12:00am
Hong Kong stocks hit new 2005 low, Lenovo bucks trend

Hong Kong stocks hit new 2005 low, Lenovo bucks trend

Hong Kong stocks fell to their lowest level in 2-1/2 months on Monday as investors booked profits on recent market darlings like China Unicom after Wall Street hit new 2005 lows last week. "When you have profit, you better grab it these days, otherwise yo
Published 25 Jan, 2005 12:00am
Thai shares plunge

Thai shares plunge

Thai share prices closed 0.13 percent lower on Monday as investor concerns grew over oil price rises amid a lack of fresh leads, analysts said. They said widespread declines suffered by regional shares on the day also helped to pressure investor sentiment
Published 25 Jan, 2005 12:00am
Indian shares slip as funds shy away

Indian shares slip as funds shy away

India's key share index slid more than 1 percent on Monday as disappointing earnings from banks hurt investor sentiment, which is already beset with worries about a weakening trend in foreign fund investment this year. The 30-share Mumbai Stock Exchange i
Published 25 Jan, 2005 12:00am
New Zealand stocks close little changed

New Zealand stocks close little changed

New Zealand share prices closed little changed on Monday with most interest focussed on retail stocks in muted trade due to a holiday in Wellington, dealers said. The benchmark NZSX-50 gross index added 1.89 points at 3,057.35 on turnover of 74.3 million
Published 25 Jan, 2005 12:00am
Chinese shares rise

Chinese shares rise

China's shares rose 1.7 percent on Monday, led by top steel maker Baosteel, as investors regained some confidence after Beijing halved stock duties to try to jumpstart a flagging market. But a spate of upcoming IPOs dimmed hopes for a sustained rally as t
Published 25 Jan, 2005 12:00am
Philippines shares surge

Philippines shares surge

Philippines share prices closed 1.38 percent higher on Monday, extending gains to fresh five-year highs above 2,000 points as investors bought into companies expected to announce strong results for 2004, dealers said. They said the government's decision t
Published 25 Jan, 2005 12:00am
Seoul shares jump, led by firmer financials

Seoul shares jump, led by firmer financials

Seoul shares edged up on Monday to their highest close in nine months, led by retail and financial stocks such as Kookmin Bank amid hopes government plans to revive weak domestic demand would bolster flagging economic growth. A spike in crude oil prices b
Published 25 Jan, 2005 12:00am
Invensys to sell 65 million euros of 2011 bonds

Invensys to sell 65 million euros of 2011 bonds

British engineer Invensys will add 65 million euros to its outstanding senior notes due 2011 on Monday in order to help fund a buyback of some of its shorter term debt, a banker familiar with the sale said. The bond pays a coupon of 9.875 percent and the
Published 25 Jan, 2005 12:00am
Invensys to sell 65 million euros of 2011 bonds

Invensys to sell 65 million euros of 2011 bonds

British engineer Invensys will add 65 million euros to its outstanding senior notes due 2011 on Monday in order to help fund a buyback of some of its shorter term debt, a banker familiar with the sale said. The bond pays a coupon of 9.875 percent and the
Published 25 Jan, 2005 12:00am
Japanese government bonds end mixed

Japanese government bonds end mixed

Japanese government bonds were mixed on Monday, with expectations that the Bank of Japan will stick to its loose policy helping keep the benchmark 10-year yield close to a 10-month low, but views that bonds are getting expensive kept buying in check. Expe
Published 25 Jan, 2005 12:00am
Japanese government bonds end mixed

Japanese government bonds end mixed

Japanese government bonds were mixed on Monday, with expectations that the Bank of Japan will stick to its loose policy helping keep the benchmark 10-year yield close to a 10-month low, but views that bonds are getting expensive kept buying in check. Expe
Published 25 Jan, 2005 12:00am
Tokyo stocks end higher, banks and builders lead

Tokyo stocks end higher, banks and builders lead

Tokyo stocks rose on Monday, snapping a four-day losing streak, with gains led by builders on healthy orders and banks like Resona Holdings Inc on signs of reform. Shares related to hay-fever prevention such as mask maker Vilene Co also drew heavy trade a
Published 25 Jan, 2005 12:00am
Bangladeshi taka firmer

Bangladeshi taka firmer

The Bangladeshi taka ended mostly firmer on Monday due to pressure in the local funds market as banks resumed activities after four-day Eid-ul-azha holiday, dealers said. The taka was quoted at 59.98/62.84 per dollar, against 59.98/62.93 on Wednesd
Published 25 Jan, 2005 12:00am
Indian rupee inches up

Indian rupee inches up

The Indian rupee inched up on Monday, helped by dollar inflows accumulated over the weekend, but gains were muted on worries about a slowdown in foreign investment in the stock market and rising crude oil prices. The local currency finished at 43.7550/765
Published 25 Jan, 2005 12:00am
Australian dollar holds near 77 cents

Australian dollar holds near 77 cents

The Australian dollar ended local trade just below 77 US cents on Monday after earlier rallying to a three-week high of 77.16 US cents. The Aussie gained as investors bet it would continue to offer a substantial yield advantage for most of 2005, a view su
Published 25 Jan, 2005 12:00am
Dollar in tight range as market awaits Fed and G7

Dollar in tight range as market awaits Fed and G7

The dollar paused on Monday after a three-week rebound against other major currencies as traders await a series of key events including meetings of the Federal Reserve and the Group of Seven (G7), both early next month. Some traders said the US currency,
Published 25 Jan, 2005 12:00am
Asian currencies higher ahead of G7 moot

Asian currencies higher ahead of G7 moot

The Philippine peso rose to fresh eight-month highs on Monday, powered by a continuing flow of foreign money into its stock markets. Other Asian currencies were also higher, supported by expectations that the region will be pressured to revalue currencies
Published 25 Jan, 2005 12:00am
Swiss franc firm versus dollar

Swiss franc firm versus dollar

The Swiss franc trod water against the euro and firmed against the dollar in early Monday trading, with Friday's release of weaker than expected US consumer confidence data weighing on the greenback. The dollar traded at 1.1857/63 francs, compared to leve
Published 25 Jan, 2005 12:00am
Hong Kong dollar little changed

Hong Kong dollar little changed

The Hong Kong dollar was trapped in narrow ranges after a firm opening on Monday amid a dearth of fresh market-moving news, dealers said. The local currency was trading at 7.7982/84 per US dollar versus a morning high of 7.7974 and little changed from 7.7
Published 25 Jan, 2005 12:00am
Chinese yuan ends unchanged

Chinese yuan ends unchanged

The yuan ended unchanged at 8.2764 per US dollar on Monday, near the stronger end of its managed trading range. The one-year non-deliverable dollar forward discount versus the yuan was at 4,000 points, implying a rate of 7.878 yuan per dollar in 12 months
Published 25 Jan, 2005 12:00am
Aussies recall Katich

Aussies recall Katich

Australia are expected to keep faith with out-of-form batsmen Matthew Hayden and Andrew Symonds, retaining both for Wednesday's tri-series limited overs match against the West Indies in Adelaide. But elegant batsman Damien Martyn will be rested and replac
Published 25 Jan, 2005 12:00am
South Africa 59-2 in second innings

South Africa 59-2 in second innings

South Africa, 112 runs behind on first innings, were 59 for two in their second innings at the close on the fourth day of the fifth and final test against England on Monday.
Published 25 Jan, 2005 12:00am
World XI beat Kiwis by three wickets

World XI beat Kiwis by three wickets

A World XI put their humiliating weekend drubbing behind them Monday to beat New Zealand by three wickets here in the second one-day cricket match of a series to raise money for tsunami victims. New Zealand had the man of the match in century-maker Nathan
Published 25 Jan, 2005 12:00am
Russians out of Aussie Open as Hewitt reaches quarters

Russians out of Aussie Open as Hewitt reaches quarters

Russian top seeds Anastasia Myskina and Elena Dementieva suffered shock defeats at the Australian Open on Monday as local hope Lleyton Hewitt produced a dramatic fight back to reach the quarter-finals for the first time. French Open champion Myskina and s
Published 25 Jan, 2005 12:00am
Musharraf gives guidelines over Pakistan's India tour

Musharraf gives guidelines over Pakistan's India tour

President Pervez Musharraf on Monday gave Pakistan's cricket chief "comprehensive guidelines" on the team's upcoming tour of India and voiced concern at their recent drubbing in Australia, officials said. General Musharraf met Pakistan Cricket Board (PCB)
Published 25 Jan, 2005 12:00am
Vandals smash cross outside Indian convent

Vandals smash cross outside Indian convent

Vandals smashed a cross and scattered threatening leaflets outside a convent in India at the weekend, leaving nuns there shaken and fearing for their lives, a sister at the convent said on Monday. There have in recent years been occasional attacks on Chri
Published 25 Jan, 2005 12:00am
Almost 63 percent of Indian injections unsafe

Almost 63 percent of Indian injections unsafe

Almost 63 percent of the six billion injections administered annually in India are unsafe, a doctor who conducted a country-wide study said Monday. "Approximately three billion to six billion injections are administered in the country every year, of which
Published 25 Jan, 2005 12:00am
Netherlands has become warehouse for stolen works of art

Netherlands has become warehouse for stolen works of art

The Netherlands has become a warehouse for stolen works of art, the head of Art Loss Register, the world's largest database for stolen art, said in an interview published Monday. "The Netherlands is a major hub for art thieves, on the one hand because the
Published 25 Jan, 2005 12:00am
UN pressed to adopt treaty on global gun tracing

UN pressed to adopt treaty on global gun tracing

Arms control activists urged UN treaty writers on Monday to approve a system for tracking small arms sales around the world, saying it was easier to track lost airline luggage than a machine gun. Amnesty International, Oxfam International and the Internat
Published 25 Jan, 2005 12:00am
Three men deny British 'dirty bomb' plot

Three men deny British 'dirty bomb' plot

Three men arrested in connection with an alleged "dirty bomb" plot in Britain last year denied involvement on Monday via a video-link from jail. They were arrested in September 2004, following an investigation by the News of the World newspaper which alle
Published 25 Jan, 2005 12:00am
Scientists call for world panel to combat species loss

Scientists call for world panel to combat species loss

Scientists called on Monday for the creation of a global panel of experts on species loss, warning that the planet was racing towards a man-made extinction crisis. "Biodiversity is being destroyed irreversibly by human activities," said the appeal, made b
Published 25 Jan, 2005 12:00am
EU warns against British opposition policy on refugees

EU warns against British opposition policy on refugees

The European Union's executive arm warned Monday that plans by Britain's opposition Conservative Party to impose quotas for asylum seekers would be illegal under EU law. A spokesman for EU justice commissioner Franco Frattini said the plan, outlined Sunda
Published 25 Jan, 2005 12:00am
Syrian leader denies plans to buy Russian missiles

Syrian leader denies plans to buy Russian missiles

Syrian President Bashar al-Assad, in an interview published on Monday ahead of a visit to Moscow, denied that there was any deal to buy sophisticated missile systems from Russia. Rumours of the Iskander-E ground-to-ground and SA-18 shoulder-fired missiles
Published 25 Jan, 2005 12:00am
Taiwanese cabinet resigns

Taiwanese cabinet resigns

Taiwan President Chen Shui-bian's cabinet resigned en masse on Monday to pave the way for a reshuffle after his pro-independence party was defeated in legislative elections last month. Chen is expected to name a heavyweight in his Democratic Progressive P
Published 25 Jan, 2005 12:00am
Politician's killing sparks riots in Andhra Pradesh

Politician's killing sparks riots in Andhra Pradesh

Mobs torched nearly 100 state-run buses and hurled stones at government buildings in southern India on Monday after an opposition politician was shot dead by unidentified gunmen, police said. Police fired in the air in several districts of Andhra Pradesh
Published 25 Jan, 2005 12:00am
China and India launch first strategic dialogue

China and India launch first strategic dialogue

Asian giants India and China on Monday opened a first round of "strategic dialogue", officials said, as their regional and international influence surges despite a nagging border dispute. The two-day talks were being held between delegations led by Chines
Published 25 Jan, 2005 12:00am
UK ponders fate of returning Guantanamo prisoners

UK ponders fate of returning Guantanamo prisoners

Campaigners for the final four British detainees at Guantanamo Bay pressed on Monday for the men to be released immediately when they return home from three years in US custody at the prison camp in Cuba. The return of the four Muslim men - expected on Tu
Published 25 Jan, 2005 12:00am
UN Assembly marks first-ever Holocaust memorial

UN Assembly marks first-ever Holocaust memorial

The UN General Assembly marks on Monday its first-ever commemoration of the liberation of Nazi concentration camps as a reminder that the evil of mass murder still threatened the world, Secretary-General Kofi Annan said. The special session, at which the
Published 25 Jan, 2005 12:00am
Bush and Chirac to meet in Brussels

Bush and Chirac to meet in Brussels

US President George W. Bush will hold a working dinner with his French counterpart Jacques Chirac on February 21 during a visit to Brussels, White House spokesman Scott McClellan said Monday. "The president will host a working dinner for the French Presid
Published 25 Jan, 2005 12:00am
24 killed in car pile up

24 killed in car pile up

A 13-car pile up on an expressway in southern China has killed 24 people just before the peak travel season for the Lunar New Year holiday, state media said on Monday. Nine of the 30 injured in Sunday's crash on the Kaiyang highway in Guangdong province w
Published 25 Jan, 2005 12:00am
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