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Nov 17, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2005-02-09
New York gold ends near four-month low on firm dollar, IMF

New York gold ends near four-month low on firm dollar, IMF

US gold futures closed at a near-four-month low on Monday, depressed by a weaker euro and uncertainty about what the International Monetary Fund may do regarding possible sales or a revaluation of its gold holdings. April delivery gold at the New York Mer
Published 09 Feb, 2005 12:00am
Saudis keen to invest in various sectors

Saudis keen to invest in various sectors

A group of 40 Saudi investors has shown interest to invest in telecom, information technology, power generation, hydel power project, housing, livestock, food processing, agriculture, floriculture and dairy farm besides joint ventures with Pakistani busin
Published 09 Feb, 2005 12:00am
Gold falls in Asia on firm dollar, Tokyo lends support

Gold falls in Asia on firm dollar, Tokyo lends support

Gold prices eased in Asia on Tuesday after a firming dollar reduced the yellow metal's safe-haven appeal, but gains in Tokyo futures provided support and helped it hold at around $412 an ounce. Spot gold was at $412.35/412.85 an ounce by 0413 GMT, versus
Published 09 Feb, 2005 12:00am
Quarterly monitoring of projects may be discontinued

Quarterly monitoring of projects may be discontinued

The Planning Commission is likely to discontinue the process of quarterly monitoring of developmental project from next quarter, it is learnt. Official sources told Business Recorder that the process of monitoring, which was initiated by the Planni
Published 09 Feb, 2005 12:00am
Malaysian tin ends flat in thin pre-holiday trade

Malaysian tin ends flat in thin pre-holiday trade

Malaysian tin price was flat on Tuesday in thin trade, with players refraining from taking fresh positions ahead of a long break. Spot tin on the Kuala Lumpur Tin Market ended at $7,870 a tonne on volume of 45 tonnes. The market will be closed from Wednes
Published 09 Feb, 2005 12:00am
Quarterly monitoring of projects may be discontinued

Quarterly monitoring of projects may be discontinued

The Planning Commission is likely to discontinue the process of quarterly monitoring of developmental project from next quarter, it is learnt. Official sources told Business Recorder that the process of monitoring, which was initiated by the Planni
Published 09 Feb, 2005 12:00am
Oil falls to four-week low, earnings woes hit Australia

Oil falls to four-week low, earnings woes hit Australia

Oil prices fell to four-week lows and the dollar hit a fresh one-month high against the yen on Tuesday, boosting Japanese exporters, but worries over corporate earnings halted Australia's record-breaking rally. US oil fell half a percent to $45.06 a barre
Published 09 Feb, 2005 12:00am
Ogra hears SNGPL petition

Ogra hears SNGPL petition

Oil and Gas Regulatory Authority (Ogra) chairman Munir Ahmed said that rights of all stakeholders would be protected in accordance with the law and in the best interest of public. He said this at a public hearing organised by the Ogra in Islamabad on a pe
Published 09 Feb, 2005 12:00am
Tokyo rubber sets fresh three-month high

Tokyo rubber sets fresh three-month high

Tokyo rubber futures extended gains to a fresh three-month high in active trade on Tuesday, drawing strength from the yen's sharp losses against the dollar. The July rubber contract on the Tokyo Commodity Exchange rose as high as 142.4 yen per kg, the pri
Published 09 Feb, 2005 12:00am
Inquiries made to buy sugar

Inquiries made to buy sugar

Pakistanis are making inquiries to buy around 50,000 tonnes of raw sugar, according to trade sources contacted by Reuters in London and New York. The sources estimated that Pakistan had already booked around 200,000 tonnes of raw sugar out of planned impo
Published 09 Feb, 2005 12:00am
New York sugar lower on fund sales

New York sugar lower on fund sales

Raw sugar futures finished softer Monday on fund sales and the pressure felt from players transferring positions out of the spot March contract ahead of its expiration at the end of the month, brokers said. The New York Board of Trade's March raw sugar co
Published 09 Feb, 2005 12:00am
Inquiries made to buy sugar

Inquiries made to buy sugar

Pakistanis are making inquiries to buy around 50,000 tonnes of raw sugar, according to trade sources contacted by Reuters in London and New York. The sources estimated that Pakistan had already booked around 200,000 tonnes of raw sugar out of planned impo
Published 09 Feb, 2005 12:00am
US cotton exports expected to rise in USDA report

US cotton exports expected to rise in USDA report

US cotton exports should increase when a government crop report is released this week, but further changes in other key figures are unlikely, industry analysts said Monday. The US Department of Agriculture will release its monthly supply/demand report on
Published 09 Feb, 2005 12:00am
Economic Co-ordination Committee removes import duty on sugar

Economic Co-ordination Committee removes import duty on sugar

The Economic Co-ordination Committee (ECC) of the Cabinet on Tuesday removed import duty on refined/raw sugar. The ECC, which met with Prime Minister Shaukat Aziz in the chair, allowed private sector to import sugar to bring down prices in domestic market
Published 09 Feb, 2005 12:00am
Soyabeans firm on short-covering

Soyabeans firm on short-covering

Chicago Board of Trade soybean futures closed firm on Monday as the market tried to recover from oversold technicals after dropping below $5 for the first time in 2-1/2 years last week, traders said. March soybeans settled 1-3/4 cents higher at $5.01-1/4,
Published 09 Feb, 2005 12:00am
Economic Co-ordination Committee removes import duty on sugar

Economic Co-ordination Committee removes import duty on sugar

The Economic Co-ordination Committee (ECC) of the Cabinet on Tuesday removed import duty on refined/raw sugar. The ECC, which met with Prime Minister Shaukat Aziz in the chair, allowed private sector to import sugar to bring down prices in domestic market
Published 09 Feb, 2005 12:00am
CBOT rice firm on commercial buying

CBOT rice firm on commercial buying

Rough rice futures at the Chicago Board of Trade closed slightly higher on Monday, as the market tried to stabilise after closing lower the past three sessions, traders said. No changes in the US supply outlook, with stocks burdensome kept the recovery li
Published 09 Feb, 2005 12:00am
Thai Copper says to shut for almost three weeks

Thai Copper says to shut for almost three weeks

Thai Copper Industries Plc., Thailand's first producer of the red metal, said on Tuesday it will shut down for almost 3 weeks, resulting in an expected cut in annual output of 8.3 percent. "We have shut down our operations since February 1. Operations are
Published 09 Feb, 2005 12:00am
Malaysian palm oil up in thin pre-holiday trade

Malaysian palm oil up in thin pre-holiday trade

Malaysian palm oil futures closed slightly higher on Tuesday, continuing Monday's rebound on short-covering in light trade ahead of a long market break. The market will be closed from Wednesday for the Chinese and Muslim new year holidays, reopening on Mo
Published 09 Feb, 2005 12:00am
World Bank to give $1 billion annually for three years

World Bank to give $1 billion annually for three years

The World Bank said on Tuesday that it would provide one billion dollars assistance to Pakistan annually for the next three years to help the government fight poverty and achieve its economic and social goals. World Bank President James D Wolfensohn told
Published 09 Feb, 2005 12:00am
Livedoor buys $555 million Nippon Broadcasting stake

Livedoor buys $555 million Nippon Broadcasting stake

Japanese Internet firm Livedoor Co has bought almost 30 percent of radio broadcaster Nippon Broadcasting System Inc (NBS), putting at risk a $719 million bid for NBS by Japan's top TV network, Fuji Television Network Inc. Livedoor said it raised its stake
Published 09 Feb, 2005 12:00am
World Bank to give $1 billion annually for three years

World Bank to give $1 billion annually for three years

The World Bank said on Tuesday that it would provide one billion dollars assistance to Pakistan annually for the next three years to help the government fight poverty and achieve its economic and social goals. World Bank President James D Wolfensohn told
Published 09 Feb, 2005 12:00am
Livedoor buys $555 million Nippon Broadcasting stake

Livedoor buys $555 million Nippon Broadcasting stake

Japanese Internet firm Livedoor Co has bought almost 30 percent of radio broadcaster Nippon Broadcasting System Inc (NBS), putting at risk a $719 million bid for NBS by Japan's top TV network, Fuji Television Network Inc. Livedoor said it raised its stake
Published 09 Feb, 2005 12:00am
Baglihar dam row expert to be named soon: Wolfensohn

Baglihar dam row expert to be named soon: Wolfensohn

The World Bank President on Tuesday declared that it would appoint neutral expert on Baglihar dam issue, after studying procedures of the Indus Waters Treaty, which may take another two weeks. The visiting World Bank president, James D Wolfensohn, made th
Published 09 Feb, 2005 12:00am
Ukraine to examine legality of all privatisations: Prime Minister

Ukraine to examine legality of all privatisations: Prime Minister

The Ukrainian prosecutor general's office is to verify the "legality" of all privatisations conducted under the previous regime, new Prime Minister Yulia Tymoshenko said on Tuesday quoted by the Interfax news agency. "This examination will be completed by
Published 09 Feb, 2005 12:00am
Baglihar dam row expert to be named soon: Wolfensohn

Baglihar dam row expert to be named soon: Wolfensohn

The World Bank President on Tuesday declared that it would appoint neutral expert on Baglihar dam issue, after studying procedures of the Indus Waters Treaty, which may take another two weeks. The visiting World Bank president, James D Wolfensohn, made th
Published 09 Feb, 2005 12:00am
EU to probe Siemens-VA Tech deal in depth

EU to probe Siemens-VA Tech deal in depth

The European Commission is about to launch a four-month, in-depth probe of plans by Siemens AG to acquire Austrian engineering group VA Tech, a source familiar with the situation said on Tuesday. A senior official at the Commission's competition directora
Published 09 Feb, 2005 12:00am
New era for Middle East peace as Abbas and Sharon declare cease-fire

New era for Middle East peace as Abbas and Sharon declare cease-fire

Palestinian President Mahmud Abbas and Israeli Prime Minister Ariel Sharon ushered in a new era of hope for Middle East peace at a landmark summit on Tuesday by calling a cease-fire to end four years of bloodshed. Meeting in an Egyptian resort following a
Published 09 Feb, 2005 12:00am
EU set to unveil one billion euro mobile R&D plan

EU set to unveil one billion euro mobile R&D plan

The European Union is set to invest 1 billion euros ($1.28 billion) in wireless research, aimed at maintaining Europe's lead as mobile communications enter the multimedia age, wireless industry executives said on Tuesday. The investment in a range of rese
Published 09 Feb, 2005 12:00am
New era for Middle East peace as Abbas and Sharon declare cease-fire

New era for Middle East peace as Abbas and Sharon declare cease-fire

Palestinian President Mahmud Abbas and Israeli Prime Minister Ariel Sharon ushered in a new era of hope for Middle East peace at a landmark summit on Tuesday by calling a cease-fire to end four years of bloodshed. Meeting in an Egyptian resort following a
Published 09 Feb, 2005 12:00am
Yamaha Motor sees another profit record in 2005

Yamaha Motor sees another profit record in 2005

Japan's Yamaha Motor Co said on Tuesday it expected a record operating profit in 2005 for the fifth consecutive year, banking on a further acceleration in south-east Asian motorbike demand. The world's second-largest motorcycle maker forecast operating pr
Published 09 Feb, 2005 12:00am
29 Iraqis die in suicide bombings and attacks

29 Iraqis die in suicide bombings and attacks

A suicide bombing against army recruits and a string of other attacks on Tuesday left at least 29 people dead across Iraq, with al Qaeda and its allies claiming responsibility for much of the new bloodshed. A suicide bomber walked into a line of soldiers
Published 09 Feb, 2005 12:00am
Yamaha Motor sees another profit record in 2005

Yamaha Motor sees another profit record in 2005

Japan's Yamaha Motor Co said on Tuesday it expected a record operating profit in 2005 for the fifth consecutive year, banking on a further acceleration in south-east Asian motorbike demand. The world's second-largest motorcycle maker forecast operating pr
Published 09 Feb, 2005 12:00am
29 Iraqis die in suicide bombings and attacks

29 Iraqis die in suicide bombings and attacks

A suicide bombing against army recruits and a string of other attacks on Tuesday left at least 29 people dead across Iraq, with al Qaeda and its allies claiming responsibility for much of the new bloodshed. A suicide bomber walked into a line of soldiers
Published 09 Feb, 2005 12:00am
Sony Ericsson sees 3G phones at 10 percent

Sony Ericsson sees 3G phones at 10 percent

Swedish-Japanese moble phone maker Sony Ericsson expects the number of 3G handsets, capable of live video calls, sold in 2005 to double from 2004 to around 10 percent of all phones sold, the firm said on Tuesday. "3G will ... become increasingly important
Published 09 Feb, 2005 12:00am
Watchdog confirms Qantas and British Airways alliance

Watchdog confirms Qantas and British Airways alliance

Australia's anti-trust regulator said on Tuesday it would allow an alliance between Qantas Airways Ltd and British Airways Plc. on the so-called 'Kangaroo Route' between Sydney and London to continue for another five years. Between them, Qantas and BA car
Published 09 Feb, 2005 12:00am
Malaysian high-tech firm denies wrongdoing

Malaysian high-tech firm denies wrongdoing

A high-tech company at the centre of a criminal investigation that has rocked Malaysia's "silicon valley" denied allegations of a 50 million-ringgit ($13 million) fraud, the Star newspaper said on Tuesday. State-funded InventQJaya, which helped spearhead
Published 09 Feb, 2005 12:00am
eBay lowers some fees in concession to users

eBay lowers some fees in concession to users

Some eBay Inc sellers on Monday balked at concessions made over the weekend by the giant Web marketplace, which is still planning to go forward with previously announced fee increases that will hit people who peddle wares through small stores on the site.
Published 09 Feb, 2005 12:00am
Japanese panel approves US mad cow proposal

Japanese panel approves US mad cow proposal

A Japanese government panel studying mad cow disease accepted a US proposal on verifying the age of cattle on Tuesday, a move that could end Japan's near 14-month ban on US beef. The panel, composed of scientists and officials from the farm and health min
Published 09 Feb, 2005 12:00am
Putin backs simpler tax inspections

Putin backs simpler tax inspections

President Vladimir Putin said on Tuesday Russia needs to simplify its system of tax inspections, which analysts say is arbitrary and disruptive and has badly damaged the country's investment climate. Putin was speaking at a meeting where Deputy Prime Mini
Published 09 Feb, 2005 12:00am
Afghan growth on strong track: IMF

Afghan growth on strong track: IMF

Afghanistan's overall economic performance is strong and shows signs of steady growth despite significant challenges including pervasive poverty, a growing opium trade and rampant security threats, the International Monetary Fund said late Monday. In a re
Published 09 Feb, 2005 12:00am
Investors must beware IFRS deck-clearing: analysts

Investors must beware IFRS deck-clearing: analysts

Companies may take advantage of big changes in financial reports due to new European accounting rules to clear the decks of asset write-downs amid the wave of unfamiliar numbers, analysts and accountants said on Tuesday. Under the new International Financ
Published 09 Feb, 2005 12:00am
German industrial output rise boosts recovery hopes

German industrial output rise boosts recovery hopes

German industrial production rose by a slightly stronger than expected 1.2 percent in December, boosted by a rise in construction output and fuelling hopes that a recovery in Europe's largest economy would continue into 2005. The rise, which was also aide
Published 09 Feb, 2005 12:00am
McDonald's same-store sales up

McDonald's same-store sales up

McDonald's Corp on Tuesday said sales at its hamburger restaurants open at least 13 months rose a better-than-expected 5.2 percent in January as discounts helped boost sales in Europe. The world's largest fast-food chain said same-store sales, a key retai
Published 09 Feb, 2005 12:00am
China has made progress on foreign exchange

China has made progress on foreign exchange

China has made progress toward preparing the ground for a flexible yuan currency but the United States is not yet satisfied, US Treasury Secretary John Snow said on Tuesday. "We've made it clear to them that they need to move to a flexible exchange rate,
Published 09 Feb, 2005 12:00am
Tight spending, tax cuts to cut US deficits: Snow

Tight spending, tax cuts to cut US deficits: Snow

US Treasury Secretary John Snow, launching the Bush administration's defence of its new budget proposals, made clear on Tuesday that tax cuts remain a cornerstone of its plans for boosting economic growth. "This administration appreciates that cutting tax
Published 09 Feb, 2005 12:00am
US publishing group to invest $20 million in India

US publishing group to invest $20 million in India

US-based newspaper and magazine publisher International Data Group said on Tuesday it planned to invest 20 million dollars over five years to set up an Indian office. "When set up, IDG India will function as a full-service hub for IDG's global publication
Published 09 Feb, 2005 12:00am
Blair pours cold water on aviation tax idea

Blair pours cold water on aviation tax idea

British Prime Minister Tony Blair on Tuesday virtually dismissed calls for taxes on aviation fuel to help prevent global warming. Blair suggested the move - also being proposed by members of the European Union to finance development aid - could harm his c
Published 09 Feb, 2005 12:00am
Blair pours cold water on aviation tax idea

Blair pours cold water on aviation tax idea

British Prime Minister Tony Blair on Tuesday virtually dismissed calls for taxes on aviation fuel to help prevent global warming. Blair suggested the move - also being proposed by members of the European Union to finance development aid - could harm his c
Published 09 Feb, 2005 12:00am
Chinese exports stay strong

Chinese exports stay strong

Chinese exports in January surged more than 42 percent from a year earlier, helping to create a $6.5 billion surplus that may highlight US concerns about the fixed Chinese currency and put more pressure on the yuan to rise. Exports from the world's sevent
Published 09 Feb, 2005 12:00am
Microsoft to buy anti-virus software maker

Microsoft to buy anti-virus software maker

Microsoft Corp said on Tuesday it will buy closely held Sybari Software Inc, which makes anti-virus security software for businesses. Terms of the deal were not disclosed.
Published 09 Feb, 2005 12:00am
BP fourth quarter profits beat forecast, dividend hiked

BP fourth quarter profits beat forecast, dividend hiked

BP Plc, the world's second-largest listed oil company by market capitalisation, reported consensus-beating fourth quarter profits on Tuesday thanks to high oil prices and strong refining margins. The company also cheered shareholders with a 26 percent jum
Published 09 Feb, 2005 12:00am
BP fourth quarter profits beat forecast, dividend hiked

BP fourth quarter profits beat forecast, dividend hiked

BP Plc, the world's second-largest listed oil company by market capitalisation, reported consensus-beating fourth quarter profits on Tuesday thanks to high oil prices and strong refining margins. The company also cheered shareholders with a 26 percent jum
Published 09 Feb, 2005 12:00am
India's HCL to develop software for Boeing 787

India's HCL to develop software for Boeing 787

Boeing Co has signed up Indian software services firm HCL Technologies Ltd to develop software for its new 787 Dreamliner, the US commercial jet maker said on Tuesday. HCL Technologies will develop a hosting platform for the flight test computing system a
Published 09 Feb, 2005 12:00am
France outlines sweeping tax cuts, state sell-offs

France outlines sweeping tax cuts, state sell-offs

France''s finance minister promised sweeping tax cuts over the next two years and announced plans to sell shares in three major energy firms and a big roads operator on Tuesday, outlining policy until elections in 2007. "Everything revolves around three w
Published 09 Feb, 2005 12:00am
France outlines sweeping tax cuts, state sell-offs

France outlines sweeping tax cuts, state sell-offs

France's finance minister promised sweeping tax cuts over the next two years and announced plans to sell shares in three major energy firms and a big roads operator on Tuesday, outlining policy until elections in 2007. "Everything revolves around three wo
Published 09 Feb, 2005 12:00am
France outlines sweeping tax cuts, state sell-offs

France outlines sweeping tax cuts, state sell-offs

France's finance minister promised sweeping tax cuts over the next two years and announced plans to sell shares in three major energy firms and a big roads operator on Tuesday, outlining policy until elections in 2007. "Everything revolves around three wo
Published 09 Feb, 2005 12:00am
Indian shares edge up

Indian shares edge up

Indian shares inched up on Tuesday, helped by some buying in banks, while the rupee posted a one-week low as the dollar rallied overseas and the central bank sold the rupee to help bring it closer to its trade-weighted rate. The top 30-share Mumbai Stock
Published 09 Feb, 2005 12:00am
Singapore shares close 1.04 percent higher

Singapore shares close 1.04 percent higher

Singapore share prices closed 1.04 percent higher on Tuesday in a half-day session on gains in blue chip stocks ahead of the Lunar New Year holidays, dealers said. They said investor sentiment was robust among smaller retail investors, with hopes high for
Published 09 Feb, 2005 12:00am
US stocks slightly down amid profit-taking

US stocks slightly down amid profit-taking

US stocks closed slightly lower on Monday as the dollar's rally and a drop in oil prices were not enough to stop investors from selling stocks and taking profits after last week's gains. Shares of toy maker Hasbro Inc slid after its profit missed Wall Str
Published 09 Feb, 2005 12:00am
Hong Kong shares surge on new year rally hope

Hong Kong shares surge on new year rally hope

Hong Kong stocks hit a one-month high on Tuesday, in a half-day session before the Lunar New Year holiday, on hopes for a traditional new year rally when the market reopens next week. Hong Kong's blue chip Hang Seng Index ended up 0.37 percent, or 50.63 p
Published 09 Feb, 2005 12:00am
US Treasuries firmer as longer-dated debt favoured

US Treasuries firmer as longer-dated debt favoured

US Treasury debt prices climbed on Monday, with investors favouring longer-dated securities despite a looming mountain of fresh supply in this week's refunding auction. Traders attributed much of the day's gains to stragglers who had taken short positions
Published 09 Feb, 2005 12:00am
US Treasuries firmer as longer-dated debt favoured

US Treasuries firmer as longer-dated debt favoured

US Treasury debt prices climbed on Monday, with investors favouring longer-dated securities despite a looming mountain of fresh supply in this week's refunding auction. Traders attributed much of the day's gains to stragglers who had taken short positions
Published 09 Feb, 2005 12:00am
Malaysian shares climb

Malaysian shares climb

Malaysian share prices closed 0.26 percent higher on Tuesday as investors accumulated banking and gaming stocks in the hope of gains after the long holiday break, dealers said. The Kuala Lumpur Composite Index was up 2.33 points at 914.91. Volume was 306.
Published 09 Feb, 2005 12:00am
Sri Lankan stocks up on rights, bonus issues

Sri Lankan stocks up on rights, bonus issues

Sri Lankan stocks rose to a fourth consecutive life closing high on Tuesday on heavy buying in select shares after two companies announced rights issues and a third launched a bonus issue, brokers said. The key Colombo all-share index rose a provisional 0
Published 09 Feb, 2005 12:00am
Philippines shares jump

Philippines shares jump

Philippines share prices closed 0.66 percent higher on Tuesday, extending gains as investors continued to buy up stocks expected to report robust 2004 profits, dealers said. They said interest in property stocks and sustained interest in mining shares als
Published 09 Feb, 2005 12:00am
Nikkei finishes flat but exporters, steel advance

Nikkei finishes flat but exporters, steel advance

Japan's Nikkei share average closed virtually unchanged on Tuesday as foreign buying of exporters and steelmakers was offset by profit-taking on recent gainers such as drug maker Eisai Co. Analysts said the technology sector would probably not react too b
Published 09 Feb, 2005 12:00am
Jakarta shares plunge

Jakarta shares plunge

Indonesian share prices closed 0.48 percent lower on Tuesday in quiet trade ahead of a two-day holiday, with declines in blue chips Telkom and Indosat outpacing a rebound by Bank Mandiri, dealers said. They said foreign brokerages continued to sell teleco
Published 09 Feb, 2005 12:00am
Thai shares move with minor gains

Thai shares move with minor gains

Thai share prices closed 0.78 percent higher on Tuesday as investors sought bargains after a landslide election victory by Prime Minister Thaksin Shinawatra's party, dealers said. The Stock Exchange of Thailand (SET) index rose 5.66 points to close at 731
Published 09 Feb, 2005 12:00am
Bangladeshi taka up as call rates jump

Bangladeshi taka up as call rates jump

The Bangladeshi taka ended firmer on Tuesday, supported by a jump in money market rates because of a liquidity shortfall, dealers said. The taka was quoted at 63.00/63.38 per dollar against 63.00/63.62 on Monday. "The taka gained ground further due to pre
Published 09 Feb, 2005 12:00am
Chinese yuan ends softer

Chinese yuan ends softer

The yuan ended a notch softer at 8.2765 per US dollar on Tuesday, near the stronger end of its managed trading range. The one-year non-deliverable dollar forward discount versus the yuan was at 3,300 points, implying a rate of 7.948 yuan pper dollar in 12
Published 09 Feb, 2005 12:00am
Swiss franc dips as dollar buoyed by budget hopes

Swiss franc dips as dollar buoyed by budget hopes

The Swiss franc continued to fall against the dollar in early European trade on Tuesday, as markets cheered US efforts to cut its massive deficits. The dollar last changed hands at around 1.2241/50 francs, levels last seen in October, up from around 1.218
Published 09 Feb, 2005 12:00am
Dollar hits two-month high versus yen on budget boost

Dollar hits two-month high versus yen on budget boost

The dollar hit a two-month high against the yen and held near a three-month peak versus the euro on Tuesday as the market cheered US efforts to tighten fiscal policy and optimism on the massive US deficits. The dollar was seen supported on US President Ge
Published 09 Feb, 2005 12:00am
Dollar climbs as deficit fears appear to ebb

Dollar climbs as deficit fears appear to ebb

The dollar climbed on Monday as proposed sweeping cuts in the US federal budget contributed to a growing view among market analysts that the worst of the US "twin" budget and trade deficits may have passed, at least for now. Against the rising dollar, the
Published 09 Feb, 2005 12:00am
Australian dollar slips

Australian dollar slips

The Australian dollar slipped to a two-week low in the face of a rejuvenated US dollar that appears to be breaking free of its long-running twin concerns of bulging fiscal and current account deficits. The Aussie was mixed against other currencies, but un
Published 09 Feb, 2005 12:00am
Asian currencies down as US budget plan boosts dollar

Asian currencies down as US budget plan boosts dollar

Asian currencies fell in holiday-thinned trading on Tuesday, with the Indonesian rupiah the worst hit, as US efforts to tighten fiscal policy boosted the US dollar and pushed the yen to near 2-month lows. The dollar's gains pushed it to three-month highs
Published 09 Feb, 2005 12:00am
Hong Kong dollar slips amid greenback strength

Hong Kong dollar slips amid greenback strength

The Hong Kong dollar hovered near its pegged exchange rate to the US unit on Tuesday ahead of a long holiday weekend, pressured by a broad-based rebound for the US dollar and as expectations for an imminent yuan revaluation eased. The local currency was a
Published 09 Feb, 2005 12:00am
Riches-to-rags India finally go professional

Riches-to-rags India finally go professional

In the first half of last century, when Dhyan Chand's stick was checked for concealed magnets, the Indian hockey team was invincible. They won all six Olympic gold medals between 1928 and 1956, sometimes beating European teams such as Belgium and France b
Published 09 Feb, 2005 12:00am
Tendulkar set to play against Pakistan, says Indian coach

Tendulkar set to play against Pakistan, says Indian coach

Sachin Tendulkar is recovering well from a tennis elbow injury and should be fit to play in next month's Test series against Pakistan, Indian coach John Wright said on Tuesday. Tendulkar, the most prolific batsman in modern cricket with 34 Test and 37 one
Published 09 Feb, 2005 12:00am
South African coach Jennings brushes off Smith's comments

South African coach Jennings brushes off Smith's comments

South Africa's interim coach Ray Jennings said he was not upset by media reports quoting captain Graeme Smith as saying he would like Steve Waugh to take up the position. "It's news to me," Jennings told a news conference in East London on Tuesday. "I kno
Published 09 Feb, 2005 12:00am
India flexible on Test venues: BCCI official

India flexible on Test venues: BCCI official

India is not averse to dropping Ahmedabad as a Test venue for Pakistan's upcoming tour, a top cricket official said here on Tuesday. "We have to find a solution that is acceptable to everyone," Board of Control for Cricket in India (BCCI) secretary Karuna
Published 09 Feb, 2005 12:00am
Cricket team returns from Australia

Cricket team returns from Australia

Pakistan captain Inzamam-ul Haq and coach Bob Woolmer Tuesday said their battle-hardened cricket team could do well in the forthcoming tour of India after learning from their Australia defeats. "For me it was an interesting tour which gave us a chance to
Published 09 Feb, 2005 12:00am
Britney Spears sues British insurers

Britney Spears sues British insurers

Pop princess Britney Spears is suing eight insurance firms - seven of them British - after they rejected a nearly 10 million-dollar claim resulting from the cancellation of her summer tour last year. The Onyx Hotel Tour, taking in the United States, Canad
Published 09 Feb, 2005 12:00am
European probe gets green light for red planet

European probe gets green light for red planet

The European probe Mars Express will deploy a key ground-penetrating radar in May in a long-delayed bid to scan Mars for signs of underground water, the European Space Agency (ESA) announced on Tuesday. The powerful instrument, MARSIS, should have been de
Published 09 Feb, 2005 12:00am
UK drug industry berates lack of good scientists

UK drug industry berates lack of good scientists

Britain is failing to produce enough good science graduates to work in its pharmaceuticals industry, which is the biggest in Europe, drug manufacturers said on Tuesday. The Association of the British Pharmaceutical Industry (ABPI) said the quality of grad
Published 09 Feb, 2005 12:00am
Alexander Sokurov's movie 'Sun' focuses on Hirohito's human side

Alexander Sokurov's movie 'Sun' focuses on Hirohito's human side

After Hitler in "Moloch" and Lenin in "Taurus," Russian film maker Alexander Sokurov has completed his trilogy on controversial 20th century leaders with "Sun," devoted to Japanese emperor Hirohito after his country's 1945 defeat. "I was drawn to the extr
Published 09 Feb, 2005 12:00am
Estonian Prime Minister wants foreign minister sacked

Estonian Prime Minister wants foreign minister sacked

Estonian Prime Minister Juhan Parts has asked the country's president to dismiss Foreign Minister Kristiina Ojuland over the disappearance of nearly 100 confidential documents, the government's press office said Tuesday. "The prime minister has presented
Published 09 Feb, 2005 12:00am
Opposition calls for more strikes in Bangladesh

Opposition calls for more strikes in Bangladesh

Bangladeshi opposition parties, campaigning to oust the government and force early elections, on Tuesday called for more general strikes next week, after enforcing six days of shutdowns in the past two weeks. The strikes, a common form of political protes
Published 09 Feb, 2005 12:00am
Russia dismisses Chechen nuclear bomb claim

Russia dismisses Chechen nuclear bomb claim

Russia dismissed as scaremongering a claim by exiled tycoon Boris Berezovsky that Chechen rebels had a nuclear bomb. Berezovsky, who lives in London but has close links with Chechen rebels after serving as a negotiator between the Kremlin and militants in
Published 09 Feb, 2005 12:00am
India eyes F-16 fighter purchase, US undecided

India eyes F-16 fighter purchase, US undecided

India has sounded out the United States to consider buying advanced F-16 fighter jets for its air force, but Washington is yet to decide on the matter, US ambassador DDavid Mulford said on Tuesday "We have been contacted with an RFI (request for informati
Published 09 Feb, 2005 12:00am
Rains kill nine in India

Rains kill nine in India

Nine people were killed as torrential rains lashed northern India while one person froze to death and thousands were stranded on a highway in Kashmir after heavy snowfalls triggered avalanches, police said Tuesday. A police spokesman said nine deaths occu
Published 09 Feb, 2005 12:00am
Nepali army launches air strikes

Nepali army launches air strikes

Nepali troops backed by helicopters have attacked Maoist camps in the jungles in the west of the country, as part of a new offensive against the rebels launched after the king seized power a week ago. Dozens of Maoists were killed in Monday's strikes on t
Published 09 Feb, 2005 12:00am
Dolly creator gets licence to clone human embryos

Dolly creator gets licence to clone human embryos

Britain on Tuesday granted the scientist, who created Dolly the sheep, the world's first cloned mammal, a licence to clone human embryos "for medical research", triggering an outcry among opposition groups. Ian Wilmut, from the Roslin Institute in Edinbur
Published 09 Feb, 2005 12:00am
US forces abused Kuwaiti prisoners: lawyer

US forces abused Kuwaiti prisoners: lawyer

US forces abused several Kuwaiti prisoners now held at Guantanamo Bay by beating them with chains, sodomizing them and giving them electrical shocks, the detainees' lawyer said on Monday. Human rights lawyer Tom Wilner, who represents the 11 Kuwaitis lock
Published 09 Feb, 2005 12:00am
Chechen rebel leader calls on West to help end war

Chechen rebel leader calls on West to help end war

Chechen rebel leader Aslan Maskhadov called Tuesday on the West to mediate an end to his Muslim republic's war against Russian forces, even as the separatists' top warlord vowed unstinting resistance. The Kavkazcenter Internet site released a statement by
Published 09 Feb, 2005 12:00am
US suspends aid to Kenya anti-graft efforts

US suspends aid to Kenya anti-graft efforts

The United States halted aid to Kenya's anti-graft agencies on Tuesday saying the country lacked the will to fight corruption, in a warning that donors are fast tiring of unchecked official theft. US Ambassador to Kenya William Bellamy said Monday's surpr
Published 09 Feb, 2005 12:00am
Saudi Arabia wins backing for terror centre

Saudi Arabia wins backing for terror centre

Security officials from some 50 countries endorsed a Saudi proposal for an international counter-terrorism centre on Tuesday but its exact role, location and funding remained unclear. A draft declaration from a conference in Riyadh called for the establis
Published 09 Feb, 2005 12:00am
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