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Print - 2005-02-16
Nomura and Rothschild link

Nomura and Rothschild link

Investment banks Nomura Holdings Inc and Rothschild have formed an alliance in the merger and acquisition (M&A) advisory business, extending each other's clout overseas. The alliance will focus on cross-border M&A between Europe and Japan, allowing the ba
Published 16 Feb, 2005 12:00am
India to put banks under Basel regime in 2007

India to put banks under Basel regime in 2007

Indian banks will be required to adopt a simple form of new capital safety rules known as Basel II by March 31, 2007 in a move to align them with international standards, the Reserve Bank of India (RBI) said on Tuesday. The move to modernise the safety st
Published 16 Feb, 2005 12:00am
European court backs activists in 'McLibel' case

European court backs activists in 'McLibel' case

Two activists found to have libelled the US fast food chain McDonald's after the longest court case in English legal history did not have a fair trial, the European Court of Human Rights ruled on Tuesday. Helen Steel and David Morris, whose 1984 pamphlet
Published 16 Feb, 2005 12:00am
US Airways gets extended bankruptcy plan deadline

US Airways gets extended bankruptcy plan deadline

US Airways Group Inc and its largest creditor, General Electric Co, amended their aircraft restructuring agreement on Monday to give the carrier 30 more days to file a reorganisation plan, the airline said. While a bankruptcy judge in Alexandria, Virginia
Published 16 Feb, 2005 12:00am
World Bank cool on interim WTO deal's gains

World Bank cool on interim WTO deal's gains

Far from being a landmark, a recent deal reviving free-trade talks would yield only a fraction of the potential gains that would flow from removing all barriers to global commerce, a top World Bank economist said on Tuesday. When rich and poor nations rea
Published 16 Feb, 2005 12:00am
Eurozone growth hit by shock dips in Germany and Italy

Eurozone growth hit by shock dips in Germany and Italy

Eurozone growth almost ground to a halt as Germany and Italy flirted with recession late in 2004 but high-spending French and Spanish shoppers ensured 2 percent growth for the year as a whole. The European Commission said however it saw no reason to cut i
Published 16 Feb, 2005 12:00am
Ericsson sees mass market for ultra-fast HSDPA

Ericsson sees mass market for ultra-fast HSDPA

The world's top mobile network maker Ericsson said on Tuesday it expected operators would begin to launch the ultra-fast HSDPA mobile networks at the end of this year with a mass market in 2006. HSDPA, which stands for High-Speed Downlink Packet Access, w
Published 16 Feb, 2005 12:00am
US retail sales dip in January

US retail sales dip in January

US retail sales dipped 0.3 percent in January as automobile sales fell sharply, but purchases outside the volatile car sector gained a healthy 0.6 percent, a government report showed on Tuesday. While overall retail sales turned in their weakest performan
Published 16 Feb, 2005 12:00am
Indian shares slip

Indian shares slip

India's key share index slid a bit from the previous session's record peak on Tuesday as investors got pre-budget jitters and federal bonds retreated on concern over the latest spurt in global oil prices. The key 30-share Mumbai Stock Exchange index fell
Published 16 Feb, 2005 12:00am
Malaysian shares surge

Malaysian shares surge

Malaysian share prices closed 0.15 percent higher on Tuesday but the market was mixed overall, with light profit-taking evident as investors waited for a fresh lead, dealers said. The Kuala Lumpur Composite Index was up 1.4 points at 921.31. Volume was 45
Published 16 Feb, 2005 12:00am
Hong Kong stocks end slightly lower after recent gains

Hong Kong stocks end slightly lower after recent gains

Hong Kong blue chips ended slightly lower on Tuesday, after closing at their highest level in nearly six weeks in the previous session following the long Lunar New Year holiday. Investors were cautious as they awaited testimony by US Federal Reserve Chair
Published 16 Feb, 2005 12:00am
US blue chip stocks dip, Apple buoys Nasdaq

US blue chip stocks dip, Apple buoys Nasdaq

US blue chip stocks finished slightly lower on Monday, pulled down by a drop in the shares of American International Group Inc as a regulatory probe widened. But the Nasdaq got a lift from a 4 percent jump in Apple Computer Inc, which shot higher after UB
Published 16 Feb, 2005 12:00am
Thai shares rally

Thai shares rally

Thai share prices closed 1.11 percent higher on Tuesday on selective buying by local investors, analysts said. The Stock Exchange of Thailand (SET) index rose 8.11 points to 736.91 and the blue chip SET 50 index was up 0.61 points at 51.76. Gainers led lo
Published 16 Feb, 2005 12:00am
US Treasuries mixed, yield curve flattens anew

US Treasuries mixed, yield curve flattens anew

US Treasuries were narrowly mixed on Monday as a lack of market-moving economic data left investors toying with the yield curve again. Federal Reserve Chairman Alan Greenspan is due to address Congress this week and his testimony is expected to set the to
Published 16 Feb, 2005 12:00am
US Treasuries mixed, yield curve flattens anew

US Treasuries mixed, yield curve flattens anew

US Treasuries were narrowly mixed on Monday as a lack of market-moving economic data left investors toying with the yield curve again. Federal Reserve Chairman Alan Greenspan is due to address Congress this week and his testimony is expected to set the to
Published 16 Feb, 2005 12:00am
Jakarta shares up

Jakarta shares up

Indonesian share prices closed up 1.57 percent on Tuesday for yet another record finish, with investors confident ahead of expected strong growth figures for 2004 due Wednesday, dealers said. The Jakarta Stock Exchange composite index added 16.467 points
Published 16 Feb, 2005 12:00am
Philippines shares make gains

Philippines shares make gains

Philippines share prices closed up 0.27 percent on Tuesday, recovering from sharp early losses following a series of bomb attacks late Monday to hit fresh five-year highs, dealers said. Bomb attacks by al Qaeda-linked Abu Sayyaf militants in three cities,
Published 16 Feb, 2005 12:00am
Singapore shares close flat

Singapore shares close flat

Singapore share prices closed little changed on Tuesday, kept in check by selective profit-taking after recent gains, dealers said. They said that with the government's new Budget due Friday unlikely to deliver any surprises, the emphasis would rest on up
Published 16 Feb, 2005 12:00am
Nikkei finishes at fresh 7-1/2-month high

Nikkei finishes at fresh 7-1/2-month high

The Nikkei share average rose 0.12 percent to a 7-1/2-month closing high on Tuesday, supported by gains in financial shares as investors saw chances of more industry consolidation and on optimism over Japan's economy. Electronic components maker Alps Elec
Published 16 Feb, 2005 12:00am
Sri Lankan stocks fall

Sri Lankan stocks fall

Sri Lankan stocks dipped on Tuesday, dragged down by foreign selling in the bourse's top three shares, brokers said. The key Colombo all-share index fell a provisional 0.33 percent, or 5.63 points, to 1,703.69 points. However the index is still near life
Published 16 Feb, 2005 12:00am
Bangladeshi taka weaker on dollar import demand

Bangladeshi taka weaker on dollar import demand

The Bangladeshi taka ended weaker on Tuesday on US dollar demand for the payment of imports of machinery and industrial raw materials, dealers said. The taka was quoted at 63.15/63.40 per dollar, from 63.10/63.28 on Monday. Call rates traded between 6.0 p
Published 16 Feb, 2005 12:00am
Hong Kong dollar hovers near peg, US data eyed

Hong Kong dollar hovers near peg, US data eyed

The Hong Kong dollar held onto the weaker side of its recent range against the US currency on Tuesday, triggering some worries about further fund outflows from the territory in the near term. The local currency weakened to 7.7999 before trading back to 7.
Published 16 Feb, 2005 12:00am
Swiss franc little hovers, awaits US capital flows data

Swiss franc little hovers, awaits US capital flows data

The Swiss franc was little changed in early trade on Tuesday as dealers awaited US capital flows data which will show how the US is funding its current account deficit. The dollar last changed hands at 1.1976/82 francs virtually unchanged from 1.1979/83 i
Published 16 Feb, 2005 12:00am
Dollar recovers but buyers pause ahead of data

Dollar recovers but buyers pause ahead of data

The dollar recovered on Tuesday from the previous day's losses but trading was subdued as market participants braced for capital flows data which will show how the United States is funding its current account deficit. With the dollar at a crossroads after
Published 16 Feb, 2005 12:00am
Dollar falters in thin trade, focus on Greenspan

Dollar falters in thin trade, focus on Greenspan

The dollar weakened across the board on Monday in generally thin trading after the US unit's failure to break key technical barriers set off a wave of short-covering in other currencies. "Dollar buyers ran out of gas once we couldn't break through $1.2750
Published 16 Feb, 2005 12:00am
Asian currencies: Taiwan dollar gains on equity inflows

Asian currencies: Taiwan dollar gains on equity inflows

The Taiwan dollar gained on Tuesday as foreign investors increased purchases of local shares on optimism about the island's economies and company earnings. Taiwan dollar strengthened a quarter of a percent to 31.58 per dollar, inching closer to a four-yea
Published 16 Feb, 2005 12:00am
Kiwis Twenty/20 side will also play one-dayers

Kiwis Twenty/20 side will also play one-dayers

New Zealand Cricket on Tuesday named a one-day squad to face Australia unchanged from the line up that will meet the Aussies in a Twenty/20 international later this week. The New Zealand squad for the first two one-dayers of the five-match series:
Published 16 Feb, 2005 12:00am
Arsenal field entire foreign squad

Arsenal field entire foreign squad

Arsenal manager Arsene Wenger has defended his decision to field an entire squad without an English player in Monday's 5-1 win against Crystal Palace. Wenger fielded the first foreign 16-man squad in English football history because Ashley Cole was ill an
Published 16 Feb, 2005 12:00am
ATP seeds Mirnyi and Fish make narrow escapes

ATP seeds Mirnyi and Fish make narrow escapes

Eighth seed Max Mirnyi rescued three match points while sixth seed Mardy Fish held off fellow American James Blake as both advanced in three-set thrillers at an ATP and WTA event here on Monday. Mirnyi outlasted American teen Brian Baker 7-6 (7/1), 6-7 (1
Published 16 Feb, 2005 12:00am
Shoaib faces disciplinary committee before India tour

Shoaib faces disciplinary committee before India tour

Strike bowler Shoaib Akhtar is to appear before a Pakistan Cricket Board (PCB) disciplinary committee on Thursday, two days before the squad to tour India is selected. Shoaib has been charged with breaching his contract by visiting night-clubs while on to
Published 16 Feb, 2005 12:00am
ICC steps in to resolve India, Pakistan row over Test venue

ICC steps in to resolve India, Pakistan row over Test venue

International Cricket Council (ICC) on Tuesday moved in to resolve the imbroglio over Pakistan's refusal to play a Test match in Ahmedabad during their first tour of India in six years starting later this month. The dispute has delayed the announcement of
Published 16 Feb, 2005 12:00am
PCB chairman states correct position before Senators

PCB chairman states correct position before Senators

International and national agencies had already verified that Pakistan-India cricket series, 2004, remained free of match fixing and national coach Bob Woolmer was being paid almost the same remunerations as being given to foreign coaches in the neighbour
Published 16 Feb, 2005 12:00am
US Senator says more Iran and North Korea intelligence needed

US Senator says more Iran and North Korea intelligence needed

US intelligence on Iran and North Korea has come up short, partly because of distractions posed by war in Iraq and Afghanistan, the two top members of the Senate's intelligence committee said on Monday. In an interview with Reuters, Republican Sen. Pat Ro
Published 16 Feb, 2005 12:00am
George Bush renominates 20 failed judicial nominees

George Bush renominates 20 failed judicial nominees

US President George W. Bush set up a showdown with Senate Democrats on Monday by re-nominating 20 failed judicial nominees, many of whom had been denounced by critics as "right-wing extremists." The renewed battle over the nominees promises to produce ple
Published 16 Feb, 2005 12:00am
Iraq war was illegal, British court told

Iraq war was illegal, British court told

British opponents of the Iraq war arrested for breaking into military bases were denied justice because the conflict itself was illegal, a court case with potentially far-reaching implications was told Tuesday. A group of protestors convicted of aggravate
Published 16 Feb, 2005 12:00am
Kyoto protocol about to bite, UN calls it first step

Kyoto protocol about to bite, UN calls it first step

Rejected by the United States, the world's plan to combat global warming goes into force on Wednesday amid scant fanfare and UN warnings that it is only a tiny first step The 141-nation Kyoto protocol aims to brake a rise in temperatures widely blamed on
Published 16 Feb, 2005 12:00am
Twin US doctors accused of switching IDs, abusing women

Twin US doctors accused of switching IDs, abusing women

An attorney has filed the latest in a series of civil lawsuits against twin physician brothers, accusing them of impersonating one another and sexually assaulting female patients in an obstetric-gynaecology practice. In a complaint filed in King County Su
Published 16 Feb, 2005 12:00am
UK Conservative to test immigrants for tuberculosis and HIV

UK Conservative to test immigrants for tuberculosis and HIV

Britain's main opposition Conservative party promised Tuesday to test immigrants from outside the European Union (EU) for HIV, tuberculosis and other diseases if it wins elections expected in May. Under the plan, modelled on schemes in Australia, New Zeal
Published 16 Feb, 2005 12:00am
Police clash with pro-Ocalan protestors in Turkey

Police clash with pro-Ocalan protestors in Turkey

At least 18 people were injured and 70 others detained across Turkey Tuesday when police clashed with Kurdish activists at demonstrations marking the capture of Kurdish rebel leader Abdullah Ocalan six years ago. The most troubled protest was in Diyarbaki
Published 16 Feb, 2005 12:00am
Strikes hit Bangladesh

Strikes hit Bangladesh

The eighth general strike in just three weeks largely paralysed Bangladesh on Tuesday and the country's main opposition party said there would be no let up in its campaign to oust Prime Minister Khaleda Zia from power. Most buses and cars were off the roa
Published 16 Feb, 2005 12:00am
Silva suffers major defeat in Congress

Silva suffers major defeat in Congress

Brazil's president suffered a stunning defeat on Tuesday in the fight for the leadership of the lower house of Congress that could put at risk reform proposals that have impressed investors. Lawmakers chose Severino Cavalcanti of the small Progressive Par
Published 16 Feb, 2005 12:00am
Kyrgyzstan rejects reconaissance planes deployment

Kyrgyzstan rejects reconaissance planes deployment

Kyrgyzstan has rejected a request by Washington to deploy AWACS reconnaisance planes at a base used by the United States to support operations in Afghanistan, Kyrgyzstan's foreign minister said Tuesday. The request to deploy the planes at a base near Kyrg
Published 16 Feb, 2005 12:00am
18 injured in poll violence in India

18 injured in poll violence in India

At least 18 people were injured in bomb attacks and clashes between rival groups as millions of Indians voted Tuesday in the second leg of elections in two eastern states amid a poll boycott called by Maoist rebels. Police commandos patrolled in helicopte
Published 16 Feb, 2005 12:00am
Hariri's assassination: Lebanon blames likely suicide attacker

Hariri's assassination: Lebanon blames likely suicide attacker

Lebanon said Tuesday a suicide bomber was probably behind the massive attack that killed former prime minister Rafiq Hariri as a mob of angry mourners turned on a group of Syrian workers to avenge his death. The army was on high alert as the country was p
Published 16 Feb, 2005 12:00am
EU armies not up to bloc's ambition: defence agency

EU armies not up to bloc's ambition: defence agency

Europe suffers from an "embarrassing gap" between its aspiration for a leading defence role on the world stage and its limited military strength, the head of the EU's new defence agency said on Tuesday. European countries must take more joint decisions on
Published 16 Feb, 2005 12:00am
US envoy in Syria summoned home

US envoy in Syria summoned home

President George W. Bush recalled the US ambassador in Syria for urgent consultations following the killing of former Lebanese Prime Minister Rafik al-Hariri in Beirut, US officials said on Tuesday. The move is a sign of US displeasure over Syria's milita
Published 16 Feb, 2005 12:00am
Israel sets new conditions for talks with Syria

Israel sets new conditions for talks with Syria

Israeli Prime Minister Ariel Sharon set new conditions for any negotiations with Syria on Tuesday, saying Damascus must first withdraw troops from Lebanon in line with a UN resolution. Israel had previously said only that Syria had to stop supporting Pale
Published 16 Feb, 2005 12:00am
Singapore and Indonesia agree to seal extradition pact

Singapore and Indonesia agree to seal extradition pact

Southeast Asian neighbours Singapore and Indonesia agreed on Tuesday to conclude an extradition treaty sought by Indonesian authorities to put on trial corrupt bankers, suspected militants and other fugitives. In a sign of growing ties, Indonesian Preside
Published 16 Feb, 2005 12:00am
Japan cabinet okays swifter action against missiles

Japan cabinet okays swifter action against missiles

Japan's cabinet approved a bill on Tuesday that would revise the country's defence laws to allow a swifter response to ballistic missile attacks, a move targetted at the threat posed by North Korea's missile arsenal. The bill would allow the defence minis
Published 16 Feb, 2005 12:00am
Next Iraqi government will be Islamic, says Allawi

Next Iraqi government will be Islamic, says Allawi

Iraq's interim Prime Minister Iyad Allawi said on Tuesday he expected the country's next government to be Islamist but hoped that more liberal voices would be heard in the shaping of Iraq's future. In his first interview since the January 30 vote, Iraq's
Published 16 Feb, 2005 12:00am
12 rebels dead in Nepal clashes

12 rebels dead in Nepal clashes

At least 12 Maoist rebels died in separate clashes with security forces in remote villages in the Himalayan kingdom, an army source said Tuesday. Ten Maoists were killed Sunday in the far south-east Morang district.
Published 16 Feb, 2005 12:00am
Afghan avalanche kills 10, injures 14

Afghan avalanche kills 10, injures 14

At least 10 people were killed and 14 others injured when an avalanche hit a village in the Panjshir valley north of the Afghan capital, an official said Tuesday. The avalanche on Monday struck Dar-e-Noor, a remote district in the Panjshir valley, trappin
Published 16 Feb, 2005 12:00am
Shia Jaafari front-runner to become Prime Minister

Shia Jaafari front-runner to become Prime Minister

Shia politician and former exile Ibrahim al-Jaafari emerged as the front-runner on Tuesday to become Iraq's new prime minister as horse-trading to decide the line-up of the next government entered the final stages. Jaafari, a physician and father of five,
Published 16 Feb, 2005 12:00am
New West Bank settlement planned for years: Israel

New West Bank settlement planned for years: Israel

Israel disclosed on Tuesday it had long-standing plans to build a new Jewish settlement in the West Bank but had set no date for the start of a project likely to harm efforts to revive peacemaking with Palestinians. Housing and Construction Minister Isaac
Published 16 Feb, 2005 12:00am
Indian rupee weakens

Indian rupee weakens

The rupee ended weaker on Tuesday, giving up most of the previous day's gains, after India's central bank mopped up the bulk of dollar inflows from foreign funds investing in the country's booming stock market, dealers said. The rupee ended at 43.8150/820
Published 16 Feb, 2005 12:00am
Sterling eases versus dollar and euro

Sterling eases versus dollar and euro

Sterling eased against the euro and the dollar on Tuesday as investors booked profits on the British currency's recent rally ahead of Wednesday's quarterly Inflation Report from the Bank of England. The BoE's assessment of the economy and inflation projec
Published 16 Feb, 2005 12:00am
Dollar falls to 11-day low versus euro

Dollar falls to 11-day low versus euro

The dollar dropped to an 11-day low against the euro on Tuesday, on the defensive as the market waited for US December capital flows data, an indicator of foreign financing of the nation's large current account deficit. The closely-watched figures due at
Published 16 Feb, 2005 12:00am
Seoul shares stay at five-year high

Seoul shares stay at five-year high

Seoul shares rose 0.4 percent to their highest close in five years on Tuesday, after the central bank left interest rates unchanged at a record low and pointed to signs of a mild recovery in domestic consumption. Blue chips led the market higher, with Hyu
Published 16 Feb, 2005 12:00am
US Stocks: Tuesday's unofficial close

US Stocks: Tuesday's unofficial close

US stocks climbed Tuesday as retail stocks including Wal-Mart Stores Inc got a boost from a rise in January retail sales and M&A activity builds following a $3.25 billion take-over offer for Circuit City Stores Inc. The Dow Jones industrial average and th
Published 16 Feb, 2005 12:00am
Bonds: sovereign issuers dominate primary market

Bonds: sovereign issuers dominate primary market

New issues dominated European bond markets on Tuesday, with Greece and Hungary selling sovereign deals of five and one billion euros respectively, while Portugal launched a three billion euro issue. On the corporate side Air Products sold a 300 million eu
Published 16 Feb, 2005 12:00am
Bonds: sovereign issuers dominate primary market

Bonds: sovereign issuers dominate primary market

New issues dominated European bond markets on Tuesday, with Greece and Hungary selling sovereign deals of five and one billion euros respectively, while Portugal launched a three billion euro issue. On the corporate side Air Products sold a 300 million eu
Published 16 Feb, 2005 12:00am
Taiwan stocks flat

Taiwan stocks flat

Taiwan stocks ended flat on Tuesday as domestic investors opted to take advantage of heavy foreign buying to cash out of recent gains in big technology shares instead of challenging tough technical resistance. The TAIEX share index ended with a gain of 9.
Published 16 Feb, 2005 12:00am
Britain's top share index extends February rally to 4 percent

Britain's top share index extends February rally to 4 percent

Britain's top shares accelerated to a fresh 2-1/2 year high and extended this month's rally to more than 4 percent on Tuesday as BG Group highlighted how much gas and oil firms are benefiting from high prices and a clutch of firms including sugar and swee
Published 16 Feb, 2005 12:00am
US regulators approve CBOT restructuring plan

US regulators approve CBOT restructuring plan

The Chicago Board of Trade said on Monday it had received the go-ahead from US securities regulators for a demutualisation plan that has been years in the making. The No 2 US futures exchange said its members would vote on April 14 on the proposed shift t
Published 16 Feb, 2005 12:00am
Mild weather keeps EU on track for big wheat crop

Mild weather keeps EU on track for big wheat crop

Europe's wheat crop has enjoyed good growing conditions so far and with another large harvest on the cards, rising stockpiles of grain could pose an even bigger headache next year, analysts said on Tuesday. Parts of Spain are lacking rain and snow has cov
Published 16 Feb, 2005 12:00am
Oil eases as dealers eye US supply build

Oil eases as dealers eye US supply build

Oil prices slipped on Tuesday, ending a five-day streak of gains, as expectations of an increase in already-robust US stockpiles countered worries of an Opec supply cut this spring. Light crude futures on the New York Mercantile Exchange eased 18 cents to
Published 16 Feb, 2005 12:00am
London sugar ends up on speculator buying

London sugar ends up on speculator buying

London sugar futures closed firmer on trade and speculator buying and spread activity, and traders said the market may be vulnerable to a selloff. May settled up $1.70 at $275.50 a tonne in volume of 2,441 lots, having moved between $275.60 and $273.10. A
Published 16 Feb, 2005 12:00am
New York cotton settles at three-week high

New York cotton settles at three-week high

Cotton futures settled Tuesday at a three-week high on speculative buying and switch trade, but fibre contracts appear to be getting a bit top heavy and the surge could slow down this week, brokers said. The New York Board of Trade's key March cotton cont
Published 16 Feb, 2005 12:00am
London cocoa ends higher on arbitrage trade

London cocoa ends higher on arbitrage trade

London cocoa futures closed higher on Tuesday, recouping the previous session's losses with the market focused on arbitrage trade with New York. "We tend to be range-bound. We had a little run up on the dollar, there was short-covering in New York above $
Published 16 Feb, 2005 12:00am
LME copper hits six-week high, awaits Chinese buyers

LME copper hits six-week high, awaits Chinese buyers

London Metal Exchange (LME) copper bobbed to six-week highs on Tuesday in light trade, as investors anticipate the return of Chinese buyers after week-long Lunar New Year holidays, analysts and traders said. LME three-months copper ended at $3,142, up $32
Published 16 Feb, 2005 12:00am
Gold under dollar-led pressure in Europe

Gold under dollar-led pressure in Europe

Gold prices were lower in Europe on Tuesday in choppy, currency-led trade, with the market abandoning a struggle to break higher when the dollar stood firm. In other precious metals, platinum fell sharply as Asian selling overnight was compounded after a
Published 16 Feb, 2005 12:00am
US MIDDAY: coffee five-year high on producer selling

US MIDDAY: coffee five-year high on producer selling

New York arabica coffee futures closed at their loftiest prices in five years, buoyed by managed-money funds extending their long positions and limited producer selling, traders said. At the New York Board of Trade, the most-active May arabica contract ro
Published 16 Feb, 2005 12:00am
US MIDDAY: cocoa higher on fund buying

US MIDDAY: cocoa higher on fund buying

Benchmark cocoa futures rose about 2 percent Tuesday as a soft dollar attracted speculators, funds and trade to the market, traders said. The New York Board of Trade's most-active May contract gained $31, or 1.99 percent, to settle at $1,592 a tonne, near
Published 16 Feb, 2005 12:00am
US MIDDAY: sugar rides on fund buying

US MIDDAY: sugar rides on fund buying

Raw sugar futures finished higher Tuesday on fund buying and trade purchases believed linked to talk of further consumer interest in the sweetener, brokers said. The New York Board of Trade's March raw sugar contract rose 0.07 cent to settle at the day's
Published 16 Feb, 2005 12:00am
US MIDDAY: wheat lower on profit-taking

US MIDDAY: wheat lower on profit-taking

Wheat futures at the Chicago Board of Trade turned lower early on Tuesday on a downward correction from the strong rally on Monday, traders said. Pit sources said locals were sellers in a profit-taking bid after Monday's fund short-covering boosted the ma
Published 16 Feb, 2005 12:00am
US MIDDAY: corn turns down on short covering

US MIDDAY: corn turns down on short covering

Corn futures at the Chicago Board of Trade turned weak early on Tuesday on a setback after speculative short covering. Monday boosted the market to near overbought technical levels, traders said. The nine-day relative index for March closed Monday at 64,
Published 16 Feb, 2005 12:00am
US MIDDAY: soyabeans lower on cash market

US MIDDAY: soyabeans lower on cash market

The Chicago Board of Trade soyabean market was choppy in technical type moves on Tuesday, recovering from a weak open then turning lower again after the May contract failed to break through its 100-day moving average, traders said. The May soyabean contra
Published 16 Feb, 2005 12:00am
US MIDDAY: copper rises on profit-taking

US MIDDAY: copper rises on profit-taking

US copper futures rose early Tuesday as the dollar again retreated from the euro, but gains got capped by some quick profit-taking, according to floor sources. "We're seeing some short-covering and fund buying this morning, probably dollar-related, but th
Published 16 Feb, 2005 12:00am
US MIDDAY: gold futures dip in choppy trade

US MIDDAY: gold futures dip in choppy trade

US gold futures slipped off two-week peaks early Tuesday as traders digested a mixed bag of economic data in choppy trade before testimony from Federal Reserve Chairman Alan Greenspan on Wednesday and Thursday. As the precious metals pulled back from a re
Published 16 Feb, 2005 12:00am
PCSIR conducting environmental studies

PCSIR conducting environmental studies

The scientists of Pakistan Council of Scientific and Industrial Research (PCSIR) are conducting studies on regular basis to determine the extent of environmental damage at various sites of different cities and suggesting remedial measures. Chairman PCSIR,
Published 16 Feb, 2005 12:00am
Security arrangements reviewed

Security arrangements reviewed

Commander Siachan Brigade, Brigadier Nasir Khan Janjua urged upon the people to forge unity among their ranks and thwart the nefarious designs of enemies who were out to disturb the congenial atmosphere of the area adding that adequate arrangements had be
Published 16 Feb, 2005 12:00am
World urged to pressurise India for Kashmir solution

World urged to pressurise India for Kashmir solution

President, Azad Jammu and Kashmir, Sardar Muhammad Anwar Khan has urged on the global community to pressurise India for the peaceful solution of Kashmir issue. AJK President said India would never solve Kashmir dispute through political and diplomatic res
Published 16 Feb, 2005 12:00am
Bari Imam shrine's custodian shot dead

Bari Imam shrine's custodian shot dead

At least three people, including Sajjada Nashin of Bari Imam's Shrine, Raja Mohammad Akram, were gunned down and four received severe injuries on Tuesday in an ambush. Gunmen sprayed bullets at Raja Akram as he returned to the Bari Imam's Shrine near the
Published 16 Feb, 2005 12:00am
'Voices of moderation in Kashmir need support'

'Voices of moderation in Kashmir need support'

Dr Rekha Chaudhry, visiting scholar, School of Advanced International Studies (SAIS), on Monday said that struggle for "separatism has not ended" in Indian occupied Kashmir and that "popular sentiment for autonomy, freedom remains, as it is." "It is refle
Published 16 Feb, 2005 12:00am
Preparatory arrangements for recruitment directed

Preparatory arrangements for recruitment directed

Administrative departments of Sindh Government have been directed to complete the preparatory arrangements regarding fresh recruitment to be made against vacancies. Sindh Cabinet has already approved lifting of ban on appointments subjected to the policy
Published 16 Feb, 2005 12:00am
The investors' mafia

The investors' mafia

As a small investor in this country I appreciate the sincere efforts of the Government of Pakistan, the Privatisation Commission and Securities and Exchange Commission for looking after critically the welfare of small investors by introducing certain rule
Published 16 Feb, 2005 12:00am
A time for celebration or condolence?

A time for celebration or condolence?

Through the letter I want to draw the attention of all the people of Lahore and other areas near it, well known for their hospitality, patriotism and to their self-made traditional Basant festival, on which they spent billions of rupees insanely, just to
Published 16 Feb, 2005 12:00am
Umra trips of former and the present PMs

Umra trips of former and the present PMs

Replying to a question in the Senate, the Foreign Minister Khurshid Kasuri mentioned that a sum of Rs 43 million was spent from the government exchequer on the Umra trips of Mir Zafrullah Khan Jamali, Chaudhry Shujaat Husain and Shaukat Aziz and their ent
Published 16 Feb, 2005 12:00am
Spain prepares for vote to sign up constitution

Spain prepares for vote to sign up constitution

Spaniards go to the polls Sunday to sign up to a European Union constitution which most voters seem set to back - but thousands of foreign residents from other EU states are frustrated they cannot take part, either in their adopted country or back home. T
Published 16 Feb, 2005 12:00am
Failure to meet international standards in exports

Failure to meet international standards in exports

The GoP takes a special pride in the present export level of $12 billion; which according to pundits needs to be doubled in the near future. This being so because any figure less than $25 billion would not be able to sustain the ever-growing import bill a
Published 16 Feb, 2005 12:00am
President's relief package for Balochistan

President's relief package for Balochistan

Addressing the people in flood-stricken Gwadar and Pasni areas in Balochistan, which he visited on Saturday, President General Pervez Musharraf did well to announce all-out rehabilitation efforts and a relief package for the affected people. Notably, the
Published 16 Feb, 2005 12:00am
Bond trading on the bourses

Bond trading on the bourses

According to credible reports, the State Bank is looking at ways to make the trading of government bonds more popular in the capital market. In order to do that, it is planning to introduce legal changes in the relevant laws and also consulting the Financ
Published 16 Feb, 2005 12:00am
About 50,970 leprosy patients registered in last 50 years

About 50,970 leprosy patients registered in last 50 years

As many as 50,970 leprosy patients have been registered in the country in the last fifty years, 65 percent of these were detected in Sindh with Karachi contributing the highest numbers of 40 percent of the whole figure. An average of 800 new cases, 40perc
Published 16 Feb, 2005 12:00am
SCCI to hold Afghan trade fair in May

SCCI to hold Afghan trade fair in May

Sarhad Chamber of Commerce & Industry (SCCI) is going to hold 2nd Rebuild Afghanistan Trade Fair (RATF)-2005 in the month of May to promote trade with Afghanistan. This was announced by Ghulam Sarwar Khan Mohmand, a former president of SCCI and chairman,
Published 16 Feb, 2005 12:00am
NHA initiates rehabilitation work on Makran highway

NHA initiates rehabilitation work on Makran highway

The National Highway Authority (NHA) has started rehabilitation work on the damaged part of Makran Coastal Highway at an estimated cost of Rs 800 million, badly affected by the recent rains. The authority will also construct Sher Shah Bridge over River Ch
Published 16 Feb, 2005 12:00am
PBBF elects new office-bearers

PBBF elects new office-bearers

Zahid Doda and Mohammed A. Rajpar have been elected President and Vice-President of Pakistan-Belgium Business Forum (PBBF) respectively for 2005-06. A Press release, issued by the forum, said the eighth annual general meeting of the PBBF was held on Febru
Published 16 Feb, 2005 12:00am
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