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Print - 2005-03-08
Africans want to expand quality coffee production

Africans want to expand quality coffee production

African coffee producers will seek to expand production of speciality coffees for export to niche Western markets, an industry official said Sunday. Affiliates of the 10-member Eastern African Coffee Association (EAFCA) had agreed to raise coffee producti
Published 08 Mar, 2005 12:00am
Indian gold and silver futures rise, sugar flat

Indian gold and silver futures rise, sugar flat

Indian gold and silver futures climbed early on Monday, tracking firmer world markets, but soyaoil and sugar contracts were little changed on better domestic supply, brokers said. March gold at the National Commodity and Derivatives Exchange (NCDEX) rose
Published 08 Mar, 2005 12:00am
Moderate grain buying seen in East Asian markets

Moderate grain buying seen in East Asian markets

Buying will be moderate in Japan and Taiwan this week with some South American and Chinese grains competing with US soyabeans and corn for sale in the Asian market, traders said on Monday. Japanese importers have so far covered roughly 80 percent of their
Published 08 Mar, 2005 12:00am
Asia oil swaps: fuel oil March-April spread flat

Asia oil swaps: fuel oil March-April spread flat

Singapore oil product swaps prices were mixed in midday trade on Monday with fuel oil stronger and gas oil under some pressure, traders said. Brokers quoted both March and April fuel oil prices slightly stronger at $215.50 a tonne. But the March/April tim
Published 08 Mar, 2005 12:00am
Oil holds above $53 as Opec cool on output rise

Oil holds above $53 as Opec cool on output rise

Oil prices held steady on Monday, planted firmly above $53 a barrel, after three Opec countries said they saw no need for the producers' cartel to increase output despite crude hovering near to four-month highs. US light crude slipped 11 cents to $53.67 a
Published 08 Mar, 2005 12:00am
Shanghai copper closes up on strong spot prices

Shanghai copper closes up on strong spot prices

Chinese copper futures rallied on Monday alongside a jump in domestic spot prices and a gain on the London Metal Exchange (LME), traders and dealers said. The most-active May copper futures on the Shanghai Futures Exchange closed at 30,760 yuan ($3,717) a
Published 08 Mar, 2005 12:00am
Malaysian tin market extends gains

Malaysian tin market extends gains

Malaysian tin rose another half a percent on Monday, as the market tracked further gains on the London Metal Exchange (LME). Spot tin on the Kuala Lumpur Tin Market ended up $40 at $8,440 a tonne on volume of 85 tonnes. It rose $44 on Friday with 75 tonne
Published 08 Mar, 2005 12:00am
Spot differentials for Middle East crude oil steady

Spot differentials for Middle East crude oil steady

Spot differentials for Middle East crude oil for May loading steadied on Monday as traders said the stronger April official selling prices (OSPs) for the lightest Saudi grades could spur demand for medium and heavier sour crude. State-run oil firm Saudi A
Published 08 Mar, 2005 12:00am
Manila buys 400,000 tonnes rice

Manila buys 400,000 tonnes rice

The Philippines bought 400,000 tonnes of rice, mostly from Vietnam, and the government said on Sunday the country needs to import even more to fill a projected shortfall caused in part by poor weather. The latest purchase bought to 800,000 tonnes the tota
Published 08 Mar, 2005 12:00am
China cotton importers in no rush to fill new quotas

China cotton importers in no rush to fill new quotas

Chinese cotton importers, wary after rushing to buy highly priced bales in 2004, will steer clear of international markets for now, even though a new batch of import licenses will be available this month, traders said. Beijing is expected to issue a secon
Published 08 Mar, 2005 12:00am
Thai rice futures end flat

Thai rice futures end flat

Thai rice futures ended steady on Monday following the government's announcement its support price for second crop due to hit the market in April will be the same as for the main crop, brokers said. Overall volume rose slightly as 67 contracts of 5 percen
Published 08 Mar, 2005 12:00am
Thai sugar premiums steady

Thai sugar premiums steady

Thai sugar premiums are expected to hold steady over the next few days, backed by reduced supply as the harvest season draws to a close, traders said on Monday. In the secondary market, Thai 100 ICUMSA white sugar for May-June was offered steady at $43 ov
Published 08 Mar, 2005 12:00am
Malaysian palm oil jumps on soyaoil, refiner covering

Malaysian palm oil jumps on soyaoil, refiner covering

Malaysian crude palm oil futures jumped 3.7 percent on Monday, lifted by gains in rival US soyaoil. A firmer physical crude palm oil market amid active refiner covering also boosted futures prices, traders said. The benchmark third-month crude palm oil fu
Published 08 Mar, 2005 12:00am
US Midwest corn firm, soyabean weaker

US Midwest corn firm, soyabean weaker

US Midwest spot interior soyabean basis bids were steady to weaker early Monday, while corn basis bids were steady to firm on very light farmer sales, cash grain merchandisers said. A Toledo, Ohio, soyabean bid fell 8 cents, an Indiana processor bid fell
Published 08 Mar, 2005 12:00am
Physical sugar trade mulls Russian and Indian interest

Physical sugar trade mulls Russian and Indian interest

Operators in the cash sugar market are pondering if the Russians and Indians are making fresh inquiries although no deals have been done yet, brokers said Monday. "I've heard talk of the Russians making inquiries in the May under 9.00 cents," a trading ho
Published 08 Mar, 2005 12:00am
'EU sugar reform must cut sky-high prices'

'EU sugar reform must cut sky-high prices'

Europe's forthcoming sugar reform will be in vain unless prices fall sharply in the world's costliest sugar market, a major users group said on Monday. "The (European) Commission should use this occasion to finally get rid of the tacit price collusion bet
Published 08 Mar, 2005 12:00am
Iron ore price rise to fuel China's output

Iron ore price rise to fuel China's output

Big iron ore price hikes by global miners such as Brazil's CVRD will spur China, the top importer of the raw material for steel, to expand output at home and slash imports this year, a leading industry official said. China, which consumes a quarter of the
Published 08 Mar, 2005 12:00am
Chinese aluminium exports weigh on Asian premiums

Chinese aluminium exports weigh on Asian premiums

Top suppliers of Western-grade aluminium to Asia are under pressure to cut up to 10 percent from April-June premiums, as China floods the region with metal to make the most of prices near their highest in a decade, traders said on Monday. Spot internation
Published 08 Mar, 2005 12:00am
Copper futures dip on Chinese profit-taking

Copper futures dip on Chinese profit-taking

Copper futures dropped a touch in light morning trading in Asia on Monday as Chinese investors took profits, but interest from funds is seen supporting prices, dealers said. By 0513 GMT, copper for three-month delivery on the London Metal Exchange was tra
Published 08 Mar, 2005 12:00am
Russian weekly grain market report

Russian weekly grain market report

Russian grain prices weakened in the past week due to low demand and high supply, traders said. Only feed barley prices were stable. Market participants do not see any indications that the decline might be reversed. On the contrary, more pressure on price
Published 08 Mar, 2005 12:00am
US Plains HRW wheat steady to weaker

US Plains HRW wheat steady to weaker

Basis bids for hard red winter wheat in the US Plains were steady to weaker on Monday, as country selling remained strong, merchants said. The basis was 3 cents a bushel lower in Hutchinson, Kansas, 2 cents lower at the Galveston, Texas, Gulf Port, 4 cent
Published 08 Mar, 2005 12:00am
Licht cuts global sugar output estimate

Licht cuts global sugar output estimate

German analyst F.O. Licht on Monday cut its estimate for global sugar output in September/August 2004/05 by 1.8 million tonnes to 146.2 million, and said supplies were not "critically tight." Despite the revision lower, the 2004/05 output estimate is stil
Published 08 Mar, 2005 12:00am
China Shipping to buy 39 ships

China Shipping to buy 39 ships

China Shipping (Group) Ltd, the country's number-two sea transport operator, will buy 39 ships this year for 8 billion yuan ($966 million) as a booming economy and coal railway bottlenecks spur demand, a top executive said. The state-run company is the pa
Published 08 Mar, 2005 12:00am
European vegetable oil prices up with futures

European vegetable oil prices up with futures

The European vegetable oil market saw a few palm oil trades on Monday as asking prices rose with stronger palm oil and soyoil futures, but many players were holding back, opting for a wait and see attitude, market sources said. "Sellers were holding back
Published 08 Mar, 2005 12:00am
Singapore bunker fuel prices rise

Singapore bunker fuel prices rise

Singapore bunker prices rose on Monday, tracking higher fuel oil cargo values. Bunker fuel oil of 380-centistoke (cst) grade was pegged at $213-$215 a tonne, up $5 from last Friday, widening the differential to cargo levels to a premium of $3.63 cents, up
Published 08 Mar, 2005 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 56,636 tonnes of cargo including 45,241 tonnes import and 11,395 tonnes export cargo inclusive of 980 containers, during last 24 hours ending at 0700 hours on Monday. The cargo comprised of 51,537 tonnes dry cargo including 35,005
Published 08 Mar, 2005 12:00am
Taiwan exports fall for first time in 3 years

Taiwan exports fall for first time in 3 years

Taiwan's exports fell for the first time in three years as fewer working days due to the Lunar New Year holiday distorted the February data, the Finance Ministry said on Monday. Exports fell 10.8 percent in the year through February, data showed, well bel
Published 08 Mar, 2005 12:00am
Capital One to buy Hibernia for $5.3 billion

Capital One to buy Hibernia for $5.3 billion

Top US credit-card issuer Capital One Financial Corp agreed to buy regional bank Hibernia Corp for about $5.3 billion, adding a network of branches that will slash funding costs and boost profit down the road. Yet shares of McLean, Virginia-based Capital
Published 08 Mar, 2005 12:00am
Capital One to buy Hibernia for $5.3 billion

Capital One to buy Hibernia for $5.3 billion

Top US credit-card issuer Capital One Financial Corp agreed to buy regional bank Hibernia Corp for about $5.3 billion, adding a network of branches that will slash funding costs and boost profit down the road. Yet shares of McLean, Virginia-based Capital
Published 08 Mar, 2005 12:00am
Punjab councillors visit women development directorate

Punjab councillors visit women development directorate

A delegation of 25 women union and tehsil councilors of Multan, Vehari, Khanewal, Bahawalpur and Muzaffarabad, on a tour of Sindh in connection with inter-provincial co-ordination, relationship and to share experience of two provinces, visited the office
Published 08 Mar, 2005 12:00am
Samsung Electronics gloomier on LCD price recovery

Samsung Electronics gloomier on LCD price recovery

Samsung Electronics Co Ltd, the world's top flat-screen maker, said on Monday a profit-sapping slide in LCD prices won't reverse until the fourth quarter, dashing hopes for a recovery as soon as next month. Samsung said in January prices for liquid crysta
Published 08 Mar, 2005 12:00am
2004 marks safest year for commercial air transport: IATA

2004 marks safest year for commercial air transport: IATA

Commercial airlines had their safest year on record in 2004, the International Air Transport Association said Monday, despite a slight rise in aircraft accidents. A total 103 aircraft were lost last year compared with 99 in 2003, and 428 people were kille
Published 08 Mar, 2005 12:00am
Reliance's arm pays $35 million fine

Reliance's arm pays $35 million fine

The telecommunications arm of India's leading private conglomerate Reliance, accused of improperly rerouting international calls, paid Monday 1.5 billion rupees (35 million dollars) to the government. Reliance Infocomm said in a statement that the payment
Published 08 Mar, 2005 12:00am
Orange and Bouygues to test TV cell phone technology

Orange and Bouygues to test TV cell phone technology

French mobile telecommunications companies Orange and Bouygues Telecom said on Monday they plan to jointly test a new mobile telephone technology derived from digital terrestrial television. Orange meanwhile now has nearly 50,000 subscribers for its third
Published 08 Mar, 2005 12:00am
Sheraton donates vaccine carrier boxes

Sheraton donates vaccine carrier boxes

One US dollar donated by a guest checking out from Karachi Sheraton hotel can save the life of a child. This was stated by the Secretary of Health, Professor Dr Naushad Sheikh while speaking at a ceremony organised here on Monday by Karachi Sheraton where
Published 08 Mar, 2005 12:00am
Wind power production capacity up by 20 percent

Wind power production capacity up by 20 percent

Production capacity by wind turbines increased 20 percent last year to 47,317 megawatts, the Global Wind Energy Council said Monday in a statement. One megawatt is estimated to be enough to power 500 homes in the United States. Germany continued to top th
Published 08 Mar, 2005 12:00am
Malaysia urges consolidation in auto industry

Malaysia urges consolidation in auto industry

Malaysia's two main local car makers are looking at ways to co-operate and cut costs but there is no talk yet of any merger, one of them said on Monday. Proton and Perodua are Malaysia's two main domestic manufacturers, claiming over 70 percent of a marke
Published 08 Mar, 2005 12:00am
EU court aims to finish Microsoft case in 2006

EU court aims to finish Microsoft case in 2006

A European Union court aims to rule on Microsoft Corp's challenge of a major antitrust decision by the summer of 2006, the judge leading the case told Reuters. "It's only a very rough sketch but my hope is to have (the case) finished by the summer (of 200
Published 08 Mar, 2005 12:00am
Fugitive former Daewoo chief executive works for French transport firm

Fugitive former Daewoo chief executive works for French transport firm

A former chief executive of South Korean group Daewoo, wanted under an Interpol arrest warrant for four years, has been working for the past 18 months for French transport firm Lohr, the CEO of Lohr told AFP Monday. Ex-Daewoo CEO Kim Woo-Choong, the subje
Published 08 Mar, 2005 12:00am
Emirates closes $239 million engine financing deal

Emirates closes $239 million engine financing deal

Dubai's Emirates airline said on Monday it has closed a $239 million financing agreement for General Electric and Rolls-Royce aircraft engines. Emirates said in a statement the financing, fully arranged and funded by Royal Bank of Scotland, included a $12
Published 08 Mar, 2005 12:00am
South Korean finance minister resigns

South Korean finance minister resigns

South Korea's finance minister resigned on Monday over media allegations about his involvement in lucrative real estate deals, injecting an element of uncertainty at a crucial time for Asia's third-largest economy. President Roh Moo-hyun accepted the resi
Published 08 Mar, 2005 12:00am
Google launches desktop search tool

Google launches desktop search tool

Google Inc late on Sunday made its desktop search widely available as it takes on rivals Microsoft Corp and Yahoo Inc in the race to help users find e-mail and files stored on computer hard drives. Google in October was the first major search company to r
Published 08 Mar, 2005 12:00am
New leading index for US home sales launched

New leading index for US home sales launched

The National Association of Realtors on Monday released the first of a new series of home sales data which it says could well become the favoured leading index of the housing market. The Pending Home Sales Index (PHSI) provides advance news on future home
Published 08 Mar, 2005 12:00am
Boeing fires CEO after affair with female official

Boeing fires CEO after affair with female official

Boeing Co on Monday said it fired Chief Executive Harry Stonecipher after he had an affair with a female executive that violated company rules, saying his leadership abilities had been damaged. Chairman Lewis Platt said on a conference call that Stoneciph
Published 08 Mar, 2005 12:00am
Iran hints at Opec output rollover

Iran hints at Opec output rollover

Iran, host of Opec's next ministerial meeting on March 16, hinted on Monday that the oil cartel would probably leave its 27 million barrels a day (bpd) production ceiling unchanged due to scorching prices. "There are two choices for ministers meeting in I
Published 08 Mar, 2005 12:00am
Drive to ease EU budget rules gains momentum

Drive to ease EU budget rules gains momentum

A Franco-German drive to loosen European Union budget rules gained pace on Monday when the bloc's president tabled new compromise proposals, but Austria slammed the plan as a move "in the wrong direction". Paris, Berlin and others who have exceeded defici
Published 08 Mar, 2005 12:00am
G10 bankers raise alert on low bond yields

G10 bankers raise alert on low bond yields

Top central bankers warned on Monday against complacency about the risk of holding debt, saying they were puzzled by low bond yields. Yields on long-term bonds for some major countries have touched historic lows in recent months even as the world economy
Published 08 Mar, 2005 12:00am
G10 bankers raise alert on low bond yields

G10 bankers raise alert on low bond yields

Top central bankers warned on Monday against complacency about the risk of holding debt, saying they were puzzled by low bond yields. Yields on long-term bonds for some major countries have touched historic lows in recent months even as the world economy
Published 08 Mar, 2005 12:00am
China sees steady rates, currency

China sees steady rates, currency

China said on Monday interest rates do not need to rise and the yuan currency will be kept stable for now, underlining authorities' determination to keep the economy on an even keel as they usher in financial reforms. Chinese leaders, gathered in Beijing
Published 08 Mar, 2005 12:00am
BAE buys United Defence for $3.97 billion

BAE buys United Defence for $3.97 billion

Britain's BAE Systems announced a $3.97 billion take-over of US armoured car maker United Defence Industries on Monday, expanding its lead over European rivals in the US market. BAE said it would pay $75 a share for the maker of the Bradley Fighting Vehic
Published 08 Mar, 2005 12:00am
Sony names foreign CEO

Sony names foreign CEO

Sony Corp named the British-born head of its US operations, Howard Stringer, as its new chairman and chief executive on Monday, handing the reins of the struggling electronics maker to a foreigner for the first time. Sony's board agreed to appoint Stringe
Published 08 Mar, 2005 12:00am
Sony names foreign CEO

Sony names foreign CEO

Sony Corp named the British-born head of its US operations, Howard Stringer, as its new chairman and chief executive on Monday, handing the reins of the struggling electronics maker to a foreigner for the first time. Sony's board agreed to appoint Stringe
Published 08 Mar, 2005 12:00am
Offshoring good for European economy

Offshoring good for European economy

"Delocalisation", the shifting of work to low-cost countries, has been greatly exaggerated as a threat to European jobs and is good for the European economy overall, an unpublished European Commission study says. European Union finance ministers had been
Published 08 Mar, 2005 12:00am
EU ministers endorse rules for computer patents

EU ministers endorse rules for computer patents

European Union ministers backed on Monday a proposal to harmonise rules for patenting computer-related inventions that critics say could stifle software development, a European Commission spokesman said. The draft bill has sparked a heated debate over whe
Published 08 Mar, 2005 12:00am
Sri Lankan stocks fall, investors skim profits

Sri Lankan stocks fall, investors skim profits

Sri Lankan stocks fell on Monday as investors skimmed profits on second tier shares after the bourse hit a new all-time closing high last week, brokers said. The key Colombo all-share index fell a provisional 0.69 percent, or 11.96 points, to 1,733.19 poi
Published 08 Mar, 2005 12:00am
New Zealand shares up

New Zealand shares up

New Zealand share prices closed 0.41 percent higher on Monday to another record close following Wall Street's gains last Friday and as the corporate reporting season draws to an end, dealers said. The benchmark NZSX-50 gross index rose 13.27 points to 321
Published 08 Mar, 2005 12:00am
Malaysian shares rally

Malaysian shares rally

Malaysian share prices closed 0.66 percent higher on Monday on a technical rebound, with index heavyweights and banking stocks attracting bargain hunting interest, dealers said. The Kuala Lumpur Composite Index rose 5.85 points at 891.18. Volume was 493.8
Published 08 Mar, 2005 12:00am
Taiwan stocks finish firmer on Wall Street

Taiwan stocks finish firmer on Wall Street

Taiwan stocks rose nearly half a percent in a broad rally on Monday, encouraged by US gains and comments from China's leaders that raised hopes a proposed anti-secession law would not worsen political relations. The TAIEX share index ended up 0.43 percent
Published 08 Mar, 2005 12:00am
Chinese shares climb

Chinese shares climb

China's shares edged up 0.5 percent on Monday, led by large-caps such as Wuhan Steel and Qilu Petrochemical, after moves to prop up depressed bourses emerged over the weekend. The benchmark Shanghai composite index finished at 1,293.739 points. It is now
Published 08 Mar, 2005 12:00am
Hong Kong stocks jump, politics, rate worries persist

Hong Kong stocks jump, politics, rate worries persist

Hong Kong stocks rose nearly a third of a percent on Monday after a Wall Street rally, but nagging political uncertainties and interest rate expectations limited gains. "It seems like investors are still very cautious," said Herbert Lau, research director
Published 08 Mar, 2005 12:00am
Jakarta shares hits new record

Jakarta shares hits new record

Indonesian share prices closed 0.21 percent higher on Monday as gains in banking stocks pushed the benchmark index to another record finish, dealers said. The Jakarta Stock Exchange composite index closed up 2.290 points at 1,105.298, breaking its previou
Published 08 Mar, 2005 12:00am
Indian shares set new record

Indian shares set new record

Indian shares set a new high for the third consecutive trading day on Monday, driven by strong inflows of foreign capital that also boosted the rupee, but the local currency ended flat as the central bank again intervened. Foreign funds have been flowing
Published 08 Mar, 2005 12:00am
Conergy to set IPO range next week

Conergy to set IPO range next week

German solar energy firm Conergy will announce the bookbuilding range of its planned initial public offering next week, it said on Monday. The firm, which makes equipment for the solar energy industry, said at a news conference the subscription period wil
Published 08 Mar, 2005 12:00am
Philippines shares extend sharp gains

Philippines shares extend sharp gains

Philippines share prices closed 1.95 percent higher on Monday, extending sharp gains for a third consecutive session on aggressive follow-through buying of stocks with good earnings prospects, dealers said. The market is already technically overbought but
Published 08 Mar, 2005 12:00am
Singapore shares close with slight gains

Singapore shares close with slight gains

Singapore share prices closed 0.54 percent higher on Monday on a technical rebound as investors sought bargains among blue chips stocks after recent declines, dealers said. The Straits Times Index gained 11.57 points to 2,166.12 while the All-Singapore Eq
Published 08 Mar, 2005 12:00am
Seoul shares slip, hit by finance minister's resignation

Seoul shares slip, hit by finance minister's resignation

Seoul shares closed lower on Monday, after a media report President Roh Moo-hyun had accepted his finance minister's offer to resign and as concerns LCD prices would stay soft until the fourth quarter hit technology stocks. The benchmark Korea Composite S
Published 08 Mar, 2005 12:00am
Thai shares close 1.24 percent higher

Thai shares close 1.24 percent higher

Thai share prices closed 1.24 percent higher on Monday led by strong buying in energy blue chips as the government announced 2004 economic growth of 6.1 percent, dealers said. The Stock Exchange of Thailand (SET) index gained 9.00 points to close at 737.4
Published 08 Mar, 2005 12:00am
Tokyo stocks finish at 10-month high as Sony rises

Tokyo stocks finish at 10-month high as Sony rises

Tokyo's Nikkei average rose for an eighth straight session to its highest close in 10 months on Monday, bolstered by gains in Sony Corp after news the electronics giant would reshuffle its management. The Nikkei climbed 52.31 points, or 0.44 percent, to 1
Published 08 Mar, 2005 12:00am
Indian rupee shed gains

Indian rupee shed gains

The rupee gave up most of the day's gains to end almost unchanged on Monday, as a watchful central bank continued its dollar buying intervention to keep appreciation in the local currency from hurting Indian exports. The rupee closed at 43.7300/7350 per d
Published 08 Mar, 2005 12:00am
Dollar bounces back against Swiss franc

Dollar bounces back against Swiss franc

The dollar clawed back some of its losses against the Swiss franc in early European trade on Monday, after a US employment report disappointing traders sent the greenback south last week. The dollar last traded at 1.1702/05 Swiss francs, up from 1.1678/83
Published 08 Mar, 2005 12:00am
Australian dollar consolidates in quiet trading

Australian dollar consolidates in quiet trading

The Australian dollar held near 79 US cents in quiet trade on Monday after mixed local data failed to provide any clearer direction to the future course of the country's interest rates. The Aussie was $0.7894/99, well above last week's lows of $0.7770 and
Published 08 Mar, 2005 12:00am
Dollar stalls after US jobs effect wanes

Dollar stalls after US jobs effect wanes

The dollar sat tight on Monday, after it slipped on US jobs figures that, although healthy, did not point to interest rates rising at a faster pace as some investors had hoped. The currency's failure to gain on the upbeat employment data suggested to doll
Published 08 Mar, 2005 12:00am
Hong Kong interbank rates slip

Hong Kong interbank rates slip

Hong Kong interbank rates softened and discounts on dollar forwards widened on Monday after jobs data suggested the Federal Reserve would not be accelerating the pace of interest rate rises in the United States. Data from the US on Friday showing the crea
Published 08 Mar, 2005 12:00am
Asian currencies gain after strong US data

Asian currencies gain after strong US data

The Taiwan dollar hit a new 4-1/2-year high and rival Asian currencies gained on Monday after strong US jobs data re-ignited concerns that the record US current account deficit may widen and weaken the dollar. The Taiwan dollar, Asia's best performing cur
Published 08 Mar, 2005 12:00am
Bangladeshi taka firms versus dollar

Bangladeshi taka firms versus dollar

The Bangladeshi taka ended firmer on Monday as a shortage of funds in the banking system pushed up cash rates, dealers said. The taka was quoted at 63.20/63.70 per dollar against 63.20/63.78 on Sunday, a work day in Bangladesh. Call rates ranged between 7
Published 08 Mar, 2005 12:00am
Chinese yuan ends weaker

Chinese yuan ends weaker

The yuan ended one notch weaker at 8.2765 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 3,400 points, implying a rate of 7.938 yuan per dollar in 12
Published 08 Mar, 2005 12:00am
Three more Munch works stolen

Three more Munch works stolen

Thieves stole three minor works by Norwegian artist Edvard Munch from a hotel in southern Norway, adding to a list of missing art topped by his masterpiece "The Scream", police said on Monday. Armed with a crowbar, two men broke into the Refsnes Gods hote
Published 08 Mar, 2005 12:00am
Bolivia president submits resignation

Bolivia president submits resignation

Besieged by protests over his gas policy, Bolivian President Carlos Mesa offered his resignation to Congress on Monday, leaving opposition lawmakers to decide his political future. Presidency Minister Jose Galindo delivered the resignation, which was broa
Published 08 Mar, 2005 12:00am
Kuwaitis demonstrate for women's suffrage

Kuwaitis demonstrate for women's suffrage

Around 500 Kuwaiti activists, mostly women, demonstrated outside parliament on Monday to demand female suffrage amidst tensions in the Gulf Arab state over a government drive to grant women political rights. "Women's rights now," chanted the crowd, which
Published 08 Mar, 2005 12:00am
Intolerance, discrimination reinforce against Muslims in western Europe

Intolerance, discrimination reinforce against Muslims in western Europe

Intolerance and discrimination towards Muslims has risen in western Europe since the terror attacks of September 11, 2001, a report by a human rights group said Monday. "As the perceived threat of religious extremism has been given wide attention in publi
Published 08 Mar, 2005 12:00am
India imposes federal rule in Bihar

India imposes federal rule in Bihar

India's Congress party-led government imposed federal rule in the politically crucial state of Bihar on Monday, after feuding parties failed to cobble together a majority from an inconclusive state poll. Bihar, one of India's poorest and most lawless stat
Published 08 Mar, 2005 12:00am
Israeli-Palestinian contacts resume, West Bank clashes flare

Israeli-Palestinian contacts resume, West Bank clashes flare

Israeli and Palestinian ministers met Monday in the latest in a series of top-level talks since last month's landmark peace summit but clashes in the West Bank clouded an informal cease-fire. Amid moves to defrost contacts that were frozen after a Palesti
Published 08 Mar, 2005 12:00am
US rejects separate talks with North Korea

US rejects separate talks with North Korea

The United States on Monday rebuffed what seemed to be moves by China to get the United States to talk directly to North Korea about its nuclear program outside six-country negotiations. After Chinese officials used media outlets to urge bilateral contact
Published 08 Mar, 2005 12:00am
30 Taleban surrender

30 Taleban surrender

Around 30 Taleban fighters have surrendered to the US military in Afghanistan as part of an amnesty offer aimed at bringing members of the ousted regime in from the cold, a top US official said Monday. Major General Eric T. Olson, the number two US comman
Published 08 Mar, 2005 12:00am
Activists call for gun control measures

Activists call for gun control measures

Gun control activists said on Monday the world was awash in small arms, fuelling violence, and called for global co-operation and stricter limits on the trade. "You can't control international arms proliferation, especially small arms proliferation, witho
Published 08 Mar, 2005 12:00am
Bolton nominated as UN ambassador

Bolton nominated as UN ambassador

President George W. Bush on Monday nominated United Nations critic John Bolton to be the new US ambassador to the world body. "The president and I have asked John to do this work because he knows how to get things done. He is a tough-minded diplomat," Sec
Published 08 Mar, 2005 12:00am
Italy honours agent; US denies deliberate killing

Italy honours agent; US denies deliberate killing

Italy paid homage on Monday to an intelligence officer killed in Iraq by US forces, giving him a full state funeral as Washington denied suggestions it had deliberately targeted the Italian agent. Nicola Calipari has been hailed as a hero at home after he
Published 08 Mar, 2005 12:00am
12 young Neo-Nazis Germans jailed

12 young Neo-Nazis Germans jailed

Neo-Nazis were classified as "terrorists" by a German court for the first time in two decades on Monday as 12 young members of an extreme-right group were jailed for attacking shops and fast food outlets. The group's members were aged between 14 and 18 at
Published 08 Mar, 2005 12:00am
Mullah Omar loses control of insurgency: Olson

Mullah Omar loses control of insurgency: Olson

Fugitive Taleban leader Mullah Mohammad Omar has lost control of the insurgency in Afghanistan and the number of attacks has fallen dramatically, a senior US general said on Monday. Taliban spokesmen have said attacks will resume once the harsh Afghan win
Published 08 Mar, 2005 12:00am
Dominican prison fire kills 133

Dominican prison fire kills 133

A fight between rival gangs led to a fire that swept through a Dominican Republic prison on Monday, killing 133 inmates in the deadliest incident in the history of the Caribbean country's prisons, officials said. Efforts to rescue the prisoners from the b
Published 08 Mar, 2005 12:00am
Syria pledges Lebanon pullback by March-end

Syria pledges Lebanon pullback by March-end

Syria on Monday pledged to pull back its troops in Lebanon towards the eastern Bekaa Valley by the end of March but stopped short of announcing the rapid withdrawal demanded by the international community. The United States, which has led mounting global
Published 08 Mar, 2005 12:00am
Sterling dips slightly

Sterling dips slightly

Sterling lost more than half a percent against the dollar on Monday as the greenback rose against most major currencies after its slide on Friday on the back of not-so-strong jobs data. Traders said the market was keenly awaiting a Bank of England (BoE) i
Published 08 Mar, 2005 12:00am
Dollar fights back in London

Dollar fights back in London

The dollar clawed back lost ground on Monday as investors questioned whether the greenback's slide in the wake of Friday's mixed US jobs report had been overdone. The US currency tumbled one percent against the euro, Swiss franc and Australian dollar in N
Published 08 Mar, 2005 12:00am
Monday's unofficial close: US stocks extend gains; Qualcomm boosts techs

Monday's unofficial close: US stocks extend gains; Qualcomm boosts techs

US stocks rose on Monday, extending Friday's gains, with tech shares lifted as wireless technology company Qualcomm Inc raised its profit outlook and network equipment builder Cisco Systems got a boost from favourable article. Acquisitions and mergers in
Published 08 Mar, 2005 12:00am
Bonds: Telecom Italia's 50-year deal grabs attention

Bonds: Telecom Italia's 50-year deal grabs attention

Telecom Italia grabbed the main attention in Europe's corporate bond markets on Monday after sources said the operator was planning an ultra-long issue, but the secondary market reaction to the deal was muted. The company plans to issue a euro-denominated
Published 08 Mar, 2005 12:00am
Bonds: Telecom Italia's 50-year deal grabs attention

Bonds: Telecom Italia's 50-year deal grabs attention

Telecom Italia grabbed the main attention in Europe's corporate bond markets on Monday after sources said the operator was planning an ultra-long issue, but the secondary market reaction to the deal was muted. The company plans to issue a euro-denominated
Published 08 Mar, 2005 12:00am
Xstrata leads FTSE to lower close, GSK adds pressure

Xstrata leads FTSE to lower close, GSK adds pressure

Britain's FTSE 100 fell on Monday, led lower by miner Xstrata on concern that its bid for Australian's WMC might be threatened by a rival offer from BHP Billiton and further pressured by GlaxoSmithKline as investors fretted about the financial impact of p
Published 08 Mar, 2005 12:00am
Metals mixed, but off lows on zinc, lead strength

Metals mixed, but off lows on zinc, lead strength

Base metals closed mixed in light trade on Monday on the London Metal Exchange (LME), but a firmer tone in zinc and lead helped copper and other metals trim early losses, traders said. "Zinc and lead were the more impressive ones today," a trader said. "T
Published 08 Mar, 2005 12:00am
New York cotton futures close easier

New York cotton futures close easier

Cotton futures closed softer Monday on late speculative sales in moderate business, with the market seen staying in a band until release of a government crop report later this week, analysts said. The New York Board of Trade's key May contract fell 0.79 c
Published 08 Mar, 2005 12:00am
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