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Print - 2005-03-30
Rosneft unit sues Yukos for $2.24 billion

Rosneft unit sues Yukos for $2.24 billion

Yuganskneftegaz, the main asset of Russian state oil firm Rosneft, is suing its former parent, stricken Russian oil firm Yukos, for 62.4 billion roubles ($2.24 billion), Rosneft said on Tuesday. A Rosneft spokesman said Yugansk had filed suit at Moscow's
Published 30 Mar, 2005 12:00am
UK to launch competition probe of LSE take-over

UK to launch competition probe of LSE take-over

The UK's Office of Fair Trading referred two rival proposals to buy the London Stock Exchange to the Competition Commission for an in-depth probe on Tuesday, a step likely to delay any take-over by six months. LSE shares sank 5 percent after the news as t
Published 30 Mar, 2005 12:00am
Airbus signs deal for 5 family planes

Airbus signs deal for 5 family planes

GB Airways, a British Airways franchise partner, has signed a contract ordering 5 Airbus single-aisle family aircraft, one A320 and four A321s, European aircraft maker Airbus said on Tuesday. Airbus, controlled by aerospace company EADS, did not disclose
Published 30 Mar, 2005 12:00am
Saudi Arabia ready to increase oil exports to India

Saudi Arabia ready to increase oil exports to India

Saudi Arabia is ready to increase oil supplies to India from the current level of 430,000 barrels per day, Saudi Oil Minister Ali al-Naimi said on Tuesday. Speaking after talks in Riyadh with his Indian counterpart Mani Shankar Aiyar, Naimi also reiterate
Published 30 Mar, 2005 12:00am
Logistics players trail global clients into China

Logistics players trail global clients into China

Along China's busy coast, port, road and air expansions are under way - opening the door for global distribution and warehouse companies to enter the world's third-largest trading nation. An influx of multinationals seeking cheap labour has made China the
Published 30 Mar, 2005 12:00am
Canada regulator quashes Black's Hollinger Inc bid

Canada regulator quashes Black's Hollinger Inc bid

Canada's top securities regulator blocked Conrad Black's bid to take holding company Hollinger Inc private on Monday, dealing the fallen press baron the latest in a series of stinging setbacks. The Ontario Securities Commission said that following a three
Published 30 Mar, 2005 12:00am
Canada regulator quashes Black's Hollinger Inc bid

Canada regulator quashes Black's Hollinger Inc bid

Canada's top securities regulator blocked Conrad Black's bid to take holding company Hollinger Inc private on Monday, dealing the fallen press baron the latest in a series of stinging setbacks. The Ontario Securities Commission said that following a three
Published 30 Mar, 2005 12:00am
Europeans to quiz Wolfowitz on World Bank vision

Europeans to quiz Wolfowitz on World Bank vision

European ministers will quiz US Deputy Defence Secretary Paul Wolfowitz on his vision for development and aid on Wednesday, but there are no plans for a last-minute stand against his nomination to head the World Bank. Some European governments have quiet
Published 30 Mar, 2005 12:00am
BNP bid heals Galeries Lafayette family split

BNP bid heals Galeries Lafayette family split

France's biggest bank stepped in on Tuesday to resolve a "war of widows" dividing the controlling families at luxury Paris store chain Galeries Lafayette, backing a 3 billion euro ($3.9 billion) deal to take it private. BNP Paribas, also aiming to prevent
Published 30 Mar, 2005 12:00am
Malaysia AirAsia picks General Electric aircraft engines

Malaysia AirAsia picks General Electric aircraft engines

General Electric Co will supply engines to Malaysian low-cost airline AirAsia Bhd. for 40 Airbus A320 aircraft, a source familiar with the deal told Reuters on Tuesday. "It has gone to GE," the source said. "The deal is expected to be closed soon." GE and
Published 30 Mar, 2005 12:00am
Aircraft aid deal with EU unlikely, says Zoellick

Aircraft aid deal with EU unlikely, says Zoellick

The United States' negotiator with the European Union on eliminating subsidies for aircraft manufacturing rivals Airbus and Boeing said on Tuesday he did not expect a deal by the April 11 deadline. "From my last conversation with (European Trade) Commissi
Published 30 Mar, 2005 12:00am
Russia's economy overheating and slowing

Russia's economy overheating and slowing

Russia's economy shows symptoms of overheating with supply, dragged down by weak investment, failing to meet booming domestic demand while growth is slowing, Finance Minister Alexei Kudrin said on Tuesday. Pouring state money into investment projects woul
Published 30 Mar, 2005 12:00am
MCI accepts $7.6 billion offer from Verizon

MCI accepts $7.6 billion offer from Verizon

MCI Inc said on Tuesday it accepted a revised take-over bid from Verizon Communications Inc worth about $7.6 billion, rejecting a $8.45 billion offer from Qwest Communications International Inc MCI said Verizon's revised offer includes $8.75 per MCI share
Published 30 Mar, 2005 12:00am
MCI accepts $7.6 billion offer from Verizon

MCI accepts $7.6 billion offer from Verizon

MCI Inc said on Tuesday it accepted a revised take-over bid from Verizon Communications Inc worth about $7.6 billion, rejecting a $8.45 billion offer from Qwest Communications International Inc MCI said Verizon's revised offer includes $8.75 per MCI share
Published 30 Mar, 2005 12:00am
Tate & Lyle trading well

Tate & Lyle trading well

British sugar and sweetener group Tate & Lyle Plc said on Tuesday that overall trading continued to be good, boosted by the performance of its new zero-calorie, low-carbohydrate sweetener scurrilous. Tate & Lyle, which makes branded sugars, syrups, soft-d
Published 30 Mar, 2005 12:00am
Tate & Lyle trading well

Tate & Lyle trading well

British sugar and sweetener group Tate & Lyle Plc said on Tuesday that overall trading continued to be good, boosted by the performance of its new zero-calorie, low-carbohydrate sweetener scurrilous. Tate & Lyle, which makes branded sugars, syrups, soft-d
Published 30 Mar, 2005 12:00am
China plans gradual foreign exchange reform

China plans gradual foreign exchange reform

China will reform its exchange rate regime gradually on a schedule of its choosing and does not plan simply to revalue the yuan, the central bank governor was quoted on Tuesday as saying. The remarks were the latest signal from Beijing that it will not ru
Published 30 Mar, 2005 12:00am
Canon to branch out into biotech business

Canon to branch out into biotech business

Japanese office equipment and camera maker Canon Inc plans to branch out into biotechnology by commercialising DNA chips for use in medical diagnosis, aiming to build a new pillar for future growth. The move comes on the heels of plans by Canon, the world
Published 30 Mar, 2005 12:00am
Canon to branch out into biotech business

Canon to branch out into biotech business

Japanese office equipment and camera maker Canon Inc plans to branch out into biotechnology by commercialising DNA chips for use in medical diagnosis, aiming to build a new pillar for future growth. The move comes on the heels of plans by Canon, the world
Published 30 Mar, 2005 12:00am
BoJ cutting target option for future

BoJ cutting target option for future

The Bank of Japan could discuss lowering its liquidity target once it is clear that this would not be interpreted as a monetary tightening, but the time to move is still some way off, a BoJ board member was quoted as saying. Hidehiko Haru said that for no
Published 30 Mar, 2005 12:00am
India shakes off past, starts to embrace future

India shakes off past, starts to embrace future

India waved goodbye in the early 1980s to its long-standing 3-4 percent "Hindu" rate of growth but still has a lot to do to lock in the 8 percent rates needed to join China on the fast track to beating poverty. With the government forecasting that GDP in
Published 30 Mar, 2005 12:00am
New Zealand February trade data shows unexpected deficit

New Zealand February trade data shows unexpected deficit

New Zealand posted an unexpected preliminary trade deficit in February after imports were boosted by higher values for petroleum products and a stronger currency dented export returns, according to official data released on Tuesday. The preliminary defici
Published 30 Mar, 2005 12:00am
South Korea industrial output posts biggest drop in 7 years

South Korea industrial output posts biggest drop in 7 years

South Korean factory output posted its sharpest drop in seven years in February, data showed on Tuesday, sparking concerns a recovery in the economy may not be as strong as touted by the government. A big rebound in wholesale and retail sales last month,
Published 30 Mar, 2005 12:00am
Higher payroll taxes would hurt US economy

Higher payroll taxes would hurt US economy

Pushing payroll taxes up enough to keep the Social Security system healthy would be an imprudent move that would damage the US economy in the long run, Treasury Secretary John Snow said on Monday. Speaking to employees at a Portland manufacturer at the st
Published 30 Mar, 2005 12:00am
Asian countries bent on having own oil market despite warnings

Asian countries bent on having own oil market despite warnings

Several Asian countries are pushing ahead with their long held objective of establishing a regional oil market for cheaper supplies, despite warnings such an initiative could backfire. "If you look at both production and consumption, Asia feels short-chan
Published 30 Mar, 2005 12:00am
Turkey has way to go to lure investment

Turkey has way to go to lure investment

Turkey has not fully secured the necessary environment to attract foreign direct investment despite steps taken to boost investor confidence, said Andrew Vorkink, World Bank representative in Turkey, on Tuesday. Developing countries should attract foreign
Published 30 Mar, 2005 12:00am
'Indian revenue deficit won't be cut in 2005-06'

'Indian revenue deficit won't be cut in 2005-06'

Indian Finance Minister Palaniappan Chidambaram said on Tuesday the country's revenue deficit would not be cut in the fiscal year starting April 1 but expects a 0.2 percent cut in its fiscal deficit. "In the year beginning April 1 we will not be able to r
Published 30 Mar, 2005 12:00am
Google to buy Web analytics firm Urchin

Google to buy Web analytics firm Urchin

Internet search company Google Inc said on Monday it had agreed to acquire Urchin Software Corp, a Web analytics company, for undisclosed terms. Urchin, which is based in San Diego, is a software firm serving Web site owners and marketers, helping them to
Published 30 Mar, 2005 12:00am
British mortgage approval edge up in February: BBA

British mortgage approval edge up in February: BBA

The number of British loan approvals for home purchases picked up in February from a month earlier after eight months of falls but was down 35 percent from a year earlier, the British Bankers' Association said on Tuesday. The BBA said approvals - loans ag
Published 30 Mar, 2005 12:00am
Hitachi and Mitsubishi delay air-conditioner joint venture

Hitachi and Mitsubishi delay air-conditioner joint venture

Mitsubishi Heavy Industries Ltd and Hitachi Ltd said on Tuesday they would delay the start of a commercial-use air-conditioner joint venture but that their agreement on merging operations remained intact. Mitsubishi and Hitachi originally planned to set u
Published 30 Mar, 2005 12:00am
China quarter one GDP seen higher

China quarter one GDP seen higher

China's economic growth will probably slow to 8.8 percent in the year through the first quarter, a top government think-tank said in a forecast that defied recent data suggesting no let-up in expansion. If confirmed in official data due next month, the es
Published 30 Mar, 2005 12:00am
French business confidence slumps to 15-month low

French business confidence slumps to 15-month low

French business morale sank unexpectedly to a 15-month low in March, raising fears that a strong euro, high oil prices and weak domestic demand could plunge the industrial sector into recession. National statistics office INSEE said on Tuesday its monthly
Published 30 Mar, 2005 12:00am
US consumers less cheerful in March

US consumers less cheerful in March

US consumer confidence ebbed in March as higher gasoline prices dampened the moods of car-reliant Americans, a report said on Tuesday. As gas pump costs soared, The Conference Board said its gauge of sentiment eased to 102.4 from a revised 104.4 in Februa
Published 30 Mar, 2005 12:00am
EU Commission to examine

EU Commission to examine

The European Commission said on Tuesday it will scrutinise Microsoft's proposals to change its new, stripped-down version of Windows. "I can confirm that the European Commission has today received a letter from Microsoft," Commission spokeswoman Antonia M
Published 30 Mar, 2005 12:00am
Microsoft to implement Windows changes

Microsoft to implement Windows changes

Microsoft will implement all of the major changes to its new stripped-down version of Windows requested by the European Commission, the software giant said on Tuesday. The European Union's executive had ordered Microsoft to sell a version of the world's d
Published 30 Mar, 2005 12:00am
IBM to delist Tokyo shares after 30 years

IBM to delist Tokyo shares after 30 years

International Business Machines Corp said on Tuesday it would delist shares from the Tokyo Stock Exchange to save listing-related costs, becoming the latest foreign company to leave Japan's biggest bourse. The last trading day for shares in IBM, which lis
Published 30 Mar, 2005 12:00am
IBM to delist Tokyo shares after 30 years

IBM to delist Tokyo shares after 30 years

International Business Machines Corp said on Tuesday it would delist shares from the Tokyo Stock Exchange to save listing-related costs, becoming the latest foreign company to leave Japan's biggest bourse. The last trading day for shares in IBM, which lis
Published 30 Mar, 2005 12:00am
Kuwait's MTC clinches African Celtel for $3.3 billion

Kuwait's MTC clinches African Celtel for $3.3 billion

Kuwaiti mobile phone operator MTC broke into Africa on Tuesday, snapping up third-ranked Celtel for about $3.32 billion and fuelling bid hopes for African rival MTN. Kuwait's Mobile Telecommunications Co (MTC) said on Tuesday it would buy 85 percent of Du
Published 30 Mar, 2005 12:00am
Kuwait's MTC clinches African Celtel for $3.3 billion

Kuwait's MTC clinches African Celtel for $3.3 billion

Kuwaiti mobile phone operator MTC broke into Africa on Tuesday, snapping up third-ranked Celtel for about $3.32 billion and fuelling bid hopes for African rival MTN. Kuwait's Mobile Telecommunications Co (MTC) said on Tuesday it would buy 85 percent of Du
Published 30 Mar, 2005 12:00am
Nikon to miss chip stepper target

Nikon to miss chip stepper target

Nikon Corp will fall short of its sales target for chip equipment this business year and expects no growth in the following year as semiconductor makers remain cautious about spending, the company's chief executive said on Tuesday. In an interview with Re
Published 30 Mar, 2005 12:00am
Nikon to miss chip stepper target

Nikon to miss chip stepper target

Nikon Corp will fall short of its sales target for chip equipment this business year and expects no growth in the following year as semiconductor makers remain cautious about spending, the company's chief executive said on Tuesday. In an interview with Re
Published 30 Mar, 2005 12:00am
Lukoil sees Russia oil product exports stagnating

Lukoil sees Russia oil product exports stagnating

Russian exports of refined oil products will start to stagnate as the domestic market soaks up more light fuels, an executive at Russian oil major Lukoil said on Tuesday. Lukoil first vice-president, Dmitry Tarasov, told Reuters that unlike crude exports
Published 30 Mar, 2005 12:00am
New York Times sees profit up, advertising uneven

New York Times sees profit up, advertising uneven

Publisher New York Times Co on Tuesday said its quarterly results will be boosted by a large gain from the sale of assets, but that advertising was "uneven" at its newspapers, sending its shares down. The company expects first-quarter net earnings
Published 30 Mar, 2005 12:00am
New York Times sees profit up, advertising uneven

New York Times sees profit up, advertising uneven

Publisher New York Times Co on Tuesday said its quarterly results will be boosted by a large gain from the sale of assets, but that advertising was "uneven" at its newspapers, sending its shares down. The company expects first-quarter net earnings
Published 30 Mar, 2005 12:00am
Delta to cut costs by outsourcing maintenance work

Delta to cut costs by outsourcing maintenance work

Delta Air Lines Inc, which is struggling to meet its cash needs, on Tuesday said it expects to cut costs by about $240 million over five years, mainly by outsourcing aircraft maintenance work. Atlanta-based Delta plans to partner with Avborne of Miami, an
Published 30 Mar, 2005 12:00am
Telecom Italia looks at reorganising Internet assets

Telecom Italia looks at reorganising Internet assets

Telecom Italia is looking at reorganising its Internet assets, it said on Tuesday, days after Internet service provider Tiscali said it could sell its French Internet arm to the telecoms group. Telecom Italia already owns tin. it, the Internet unit of its
Published 30 Mar, 2005 12:00am
Japan's jobs, spending data show recovery unstable

Japan's jobs, spending data show recovery unstable

Japan's jobless rate rose in February while household spending fell, government data showed on Tuesday, highlighting an unstable recovery from last year's economic recession. But analysts and government officials said there was no need to be too pessimist
Published 30 Mar, 2005 12:00am
Thai shares close lower

Thai shares close lower

Thai share prices closed 0.89 percent lower on Tuesday, extending losses in line with the region as the local currency continued under pressure, dealers said. News of another earthquake off the northern coast of Sumatra, Indonesia, rattled nerves but whil
Published 30 Mar, 2005 12:00am
Malaysian shares plunge

Malaysian shares plunge

Malaysian share prices closed 0.40 percent lower on Tuesday in listless trade as profit-taking led to a sell down in the blue chips, dealers said. The Kuala Lumpur Composite Index fell 3.57 points at 881.87. Volume was 487.64 million shares worth 940.47 m
Published 30 Mar, 2005 12:00am
Philippines shares decline

Philippines shares decline

Philippines share prices closed sharply lower on Tuesday, falling 2.77 percent on continued heavy profit-taking as the regional markets sold off on concerns about the prospect of higher global interest rates led by the United States, dealers said. A weake
Published 30 Mar, 2005 12:00am
Hong Kong stocks drop as rate worries persist

Hong Kong stocks drop as rate worries persist

Hong Kong stocks closed at their lowest level in two months on Tuesday as investors fretted over the prospect of further interest rate rises along with a strengthening US dollar. Large cap China shares such as mobile carrier China Unicom and blue chip pro
Published 30 Mar, 2005 12:00am
US stocks close higher as crude oil eases

US stocks close higher as crude oil eases

US stocks edged up on Monday, gaining ground after 3 weeks of losses, as a drop in crude oil eased concern that high energy prices will cut into profits and a 2.5 percent gain in insurer American International Group Inc propped up the Dow. Brokerage Merri
Published 30 Mar, 2005 12:00am
Indian stocks shed two percent

Indian stocks shed two percent

Indian shares slumped to two-month lows, dragging the rupee to five-week lows on Tuesday, as investors reshuffled their portfolios ahead of the fiscal year-end and worried about a broadly firmer dollar. The 30-share Mumbai Stock Exchange index shed more t
Published 30 Mar, 2005 12:00am
US Treasuries on defensive as data deluge awaited

US Treasuries on defensive as data deluge awaited

US Treasury debt prices eased on Monday as investors chose to err on the side of caution ahead of key data on inflation and jobs later in the week. The market's bearish tone persisted, traders said, with bond bulls still smarting from suggestions from the
Published 30 Mar, 2005 12:00am
US Treasuries on defensive as data deluge awaited

US Treasuries on defensive as data deluge awaited

US Treasury debt prices eased on Monday as investors chose to err on the side of caution ahead of key data on inflation and jobs later in the week. The market's bearish tone persisted, traders said, with bond bulls still smarting from suggestions from the
Published 30 Mar, 2005 12:00am
Jakarta shares slip

Jakarta shares slip

Indonesian shares closed sharply lower on Tuesday, falling 2.72 percent as investors were unnerved by news of another major earthquake off the coast of northern Sumatra, close to last December's devastating quake and tsunami, dealers said. There has been
Published 30 Mar, 2005 12:00am
Singapore shares drop

Singapore shares drop

Singapore shares closed 0.78 percent lower on Tuesday as concerns about slowing economic growth continued to weigh heavily on investor sentiment, dealers said. The Straits Times Index lost 16.65 points at 2,127.71 on volume of 535 million shares worth 591
Published 30 Mar, 2005 12:00am
Taiwan stocks at two-month low; banks tumble

Taiwan stocks at two-month low; banks tumble

Taiwan stocks fell 1.45 percent to end at a 2-month low on Tuesday as banking shares touched off broad losses following a report that bids for Chang Hwa Bank's overseas share offer were well below market prices. The TAIEX share index lost 87.50 points to
Published 30 Mar, 2005 12:00am
Seoul shares slide as soft data spooks investors

Seoul shares slide as soft data spooks investors

Seoul shares fell nearly 2 percent on Tuesday, as data showing South Korean factory output posted its sharpest drop in seven years in February delivered a blow to hopes a broader economic recovery was on the horizon. Investors reacted to the data by offlo
Published 30 Mar, 2005 12:00am
Chinese shares fall

Chinese shares fall

China's shares closed down 0.4 percent on Tuesday as poor sentiment after the key index hit a six-year low a day earlier pushed investors to sell Yangtze Electric Power Co Ltd, despite its strong earnings. The Shanghai composite index finished at 1,195.01
Published 30 Mar, 2005 12:00am
Sri Lankan stocks rise

Sri Lankan stocks rise

Sri Lankan stocks ended firmer on Tuesday as brokerage Asia Capital gained sharply from a stake sale in rubber products maker Richard Pieris and Co Ltd, brokers said. The key Colombo all-share index rose a provisional 0.21 percent, or 3.57 points, to 1,73
Published 30 Mar, 2005 12:00am
Tokyo stocks end 1.6 percent down on weak data

Tokyo stocks end 1.6 percent down on weak data

Japan's Nikkei average sank 1.6 percent on Tuesday, its biggest fall in four months, hit by weak retail spending and a rise in the jobless rate in Japan and by drops in other Asian indices. Firms cutting their earnings estimates, such as electronic parts
Published 30 Mar, 2005 12:00am
Hong Kong dollar falters on US$ strength

Hong Kong dollar falters on US$ strength

The Hong Kong dollar weakened on Tuesday pressured by a rebound in the US dollar against major currencies and amid a decline in local stocks. In its latest bid to support the currency, the Hong Kong Monetary Authority (HKMA) stepped in late on Tuesday aft
Published 30 Mar, 2005 12:00am
Chinese yuan ends softer

Chinese yuan ends softer

The yuan on Tuesday ended two notches softer at 8.2766 per US dollar from 8.2764 on Monday, near the stronger end of its managed trading range. The one-year non-deliverable dollar forward discount versus the yuan was at 3,450 points, implying a rate of 7.
Published 30 Mar, 2005 12:00am
Indian rupee slips to five-week low as stocks fall

Indian rupee slips to five-week low as stocks fall

The Indian rupee closed at its lowest in five weeks on Tuesday, after it failed to hold early gains with sentiment edgy due to a slide in local stocks and as the dollar held near its recent peaks in the global market. The rupee ended at 43.8100/8200 per d
Published 30 Mar, 2005 12:00am
Strong US dollar obscures Canadian currency's rise

Strong US dollar obscures Canadian currency's rise

US dollar bulls, who have spent the last two weeks gleefully watching the greenback swim higher against its rivals, may not have noticed a smaller fish lurking in its wake. But the Canadian dollar has been mounting a quiet charge of its own, sparked by pr
Published 30 Mar, 2005 12:00am
Dollar hits five-month high versus yen as US data eyed

Dollar hits five-month high versus yen as US data eyed

The dollar climbed to a fresh five-month high against the yen on Tuesday on expectations that this week's US jobs data would support the case for more aggressive rises in interest rates. But despite gains against the yen, the US currency eased versus the
Published 30 Mar, 2005 12:00am
Dollar extends interest rate fuelled gains

Dollar extends interest rate fuelled gains

The dollar rose across the board on Monday, supported by continuing bullishness on the US economy and expectations of a proactive Federal Reserve on raising interest rates. The US currency rose to a five-month high against the yen and hit six-week peaks a
Published 30 Mar, 2005 12:00am
Bangladesh interbank rates

Bangladesh interbank rates

Interbank buy/sell rates for the taka against the dollar on Tuesday 63.20/63.70 (previous 63.20/63.70). Call Money Rates: 7.0-20.0 percent (previous 7.0-21.0 percent).
Published 30 Mar, 2005 12:00am
Asian currencies: rupiah falls to 9 1/2-month low, leads decline

Asian currencies: rupiah falls to 9 1/2-month low, leads decline

The Indonesian rupiah slipped to a 9 1/2-month low on Tuesday, leading declines in Asian currencies, after an earthquake off Sumatra sparked a sell-off in local stocks and drove more investors away to US dollar assets. The rupiah lost 0.7 percent to 9,505
Published 30 Mar, 2005 12:00am
US spent $1 billion to promote democracy, human rights in 2004

US spent $1 billion to promote democracy, human rights in 2004

Promoting human rights and the spread of democracy throughout the world is a cornerstone of US foreign policy, and the United States invested over $1 billion in 2004 to promote democracy and human rights, according to State Department fact sheet released
Published 30 Mar, 2005 12:00am
Malaysian foreign minister says strong stance on Israel stays

Malaysian foreign minister says strong stance on Israel stays

The participation of five Israeli activists at a conference here on the plight of the Palestinian people should not be construed as a softening of Malaysia's position on Israel, a senior minister said. The three-day conference which began on Monday was or
Published 30 Mar, 2005 12:00am
Mauritius cancels tsunami alert

Mauritius cancels tsunami alert

Authorities on the Indian Ocean island of Mauritius on Tuesday cancelled a tsunami alert issued late Monday after an underwater earthquake measuring over 8.0 on the Richter scale struck off the Indonesian island of Sumatra. The alert was lifted shortly af
Published 30 Mar, 2005 12:00am
Jewish settlers debate strategy for resisting Gaza pullout

Jewish settlers debate strategy for resisting Gaza pullout

Jewish settlers furious with Israel's planned pullout from occupied Gaza were meeting on Tuesday to discuss their future strategy after losing all political chances of scuppering the evacuation. The main Yesha settlers' council was locked in talks the mor
Published 30 Mar, 2005 12:00am
Nepali journalists march for freedom

Nepali journalists march for freedom

About 200 Nepali journalists defied a ban on protests on Tuesday to march through the Himalayan kingdom's capital demanding restoration of press freedoms curbed since King Gyanendra seized power last month. In Kathmandu, riot police stood guard as reporte
Published 30 Mar, 2005 12:00am
Turkey set to sign key EU protocol

Turkey set to sign key EU protocol

Turkey said on Tuesday it had sent a letter to the European Commission confirming that it is ready to sign a protocol extending its customs union with the European Union to 10 new members, including Cyprus. Extending the protocol is a key condition before
Published 30 Mar, 2005 12:00am
Human damage to Earth worsening fast

Human damage to Earth worsening fast

Humans are damaging the planet at an unprecedented rate and raising risks of abrupt collapses in nature that could spur disease, deforestation or "dead zones" in the seas, an international report said on Wednesday. The study, by 1,360 experts in 95 nation
Published 30 Mar, 2005 12:00am
Afghan dam breached, up to 6 feared dead

Afghan dam breached, up to 6 feared dead

Waters swamped large parts of the central Afghanistan town of Ghazni on Tuesday and several nearby villages were inundated after a dam was breached following hheavy rains and melting snows Up to six people were feared killed and US-led forces joined an ev
Published 30 Mar, 2005 12:00am
Ugandan Muslims march in defence of polygamy

Ugandan Muslims march in defence of polygamy

Hundreds of Ugandan Muslims demonstrated in the capital on Tuesday to protest a proposed restriction on polygamy. Under Islamic law, a Muslim man is allowed to take up to four wives, as long as he can provide for all of them equally. But a domestic relati
Published 30 Mar, 2005 12:00am
Oil-for-food probe clears Annan and raps son

Oil-for-food probe clears Annan and raps son

An inquiry into the UN oil-for-food scandal concluded on Tuesday that Secretary-General Kofi Annan had not interfered in the awarding of a contract to a firm that employed his son but faulted him for not investigating the issue properly. The independent i
Published 30 Mar, 2005 12:00am
Afghan woman accused of killing 27 men

Afghan woman accused of killing 27 men

An Afghan housewife involved in a car theft gang is to stand trial on charges of murdering 27 men, including her husband, officials said on Tuesday. Sherin Gul, her son, her lover and four other accomplices were arrested several months ago and confessed t
Published 30 Mar, 2005 12:00am
Ousted Kyrgyz leader prepared to resign

Ousted Kyrgyz leader prepared to resign

Kyrgyzstan's ousted President Askar Akayev said on Tuesday he was prepared to resign if he was given appropriate guarantees. Asked by Russian state television if he was prepared to resign, he said: "Of course, if I am given relevant guarantees and it full
Published 30 Mar, 2005 12:00am
OIC slams Israel's settlement expansion plans

OIC slams Israel's settlement expansion plans

The Organisation of Islamic Conference (OIC) condemned Tuesday Israel's plans to expand the three largest West Bank settlements saying it was a setback to Middle East peace efforts. "Israel's decision to expand settlements is a new attempt to impose new r
Published 30 Mar, 2005 12:00am
Al Qaeda funding the return of the Taleban: US

Al Qaeda funding the return of the Taleban: US

Osama bin Laden's al Qaeda network is making fresh efforts to engineer a comeback by the Taliban and regain a foothold of its own in Afghanistan, the commander of US forces in the country said Tuesday. Lieutenant General David Barno said the US believed b
Published 30 Mar, 2005 12:00am
Iraq's parliament in uproar over stalemate

Iraq's parliament in uproar over stalemate

Iraq's parliament erupted in acrimony at only its second sitting on Tuesday and journalists were thrown out after lawmakers berated leaders for failing to agree on a new government, two months after historic elections. When parliamentarians were told that
Published 30 Mar, 2005 12:00am
India gives top award to widow of Australian missionary

India gives top award to widow of Australian missionary

India has given one of its top civilian awards to Australian Gladys Staines, a social worker and widow of missionary Graham Staines who was killed by a Hindu mob along with their two sons in 1999, reports said Tuesday. The Padma Shri award given to Staine
Published 30 Mar, 2005 12:00am
Bush tells Iraqis democracy needs compromise

Bush tells Iraqis democracy needs compromise

US President George W. Bush on Tuesday praised "the spirit of compromise" as a cornerstone of democracy and predicted Iraq's parliament would quickly overcome internal divisions and form a new government. "We expect a new government will be chosen soon,"
Published 30 Mar, 2005 12:00am
US Stocks: Tuesday's unofficial close

US Stocks: Tuesday's unofficial close

US stocks slipped lower Tuesday as a raft of negative world-wide economic news hung over markets and drug stocks like Pfizer and Eli Lilly were hit by market developments. Austrian authorities have invalidated a patent covering Pfizer Inc's cholesterol-lo
Published 30 Mar, 2005 12:00am
ISS bonds, CDS hit hard by private equity bid

ISS bonds, CDS hit hard by private equity bid

A bid for Danish cleaning and services company ISS jolted European bond markets on Tuesday as fixed income investors worried about higher debt levels and the near certainty of credit rating cuts. Goldman Sachs Capital Partners and venture capital firm EQT
Published 30 Mar, 2005 12:00am
ISS bonds, CDS hit hard by private equity bid

ISS bonds, CDS hit hard by private equity bid

A bid for Danish cleaning and services company ISS jolted European bond markets on Tuesday as fixed income investors worried about higher debt levels and the near certainty of credit rating cuts. Goldman Sachs Capital Partners and venture capital firm EQT
Published 30 Mar, 2005 12:00am
UK's top share index dips; services firms clean up

UK's top share index dips; services firms clean up

Britain's top share index ended weaker on Tuesday as fears swirled over exposure to equities in the face of rising global interest rates, although service companies including Rentokil and Davis Service Group gained after a bid for a Danish rival sparked h
Published 30 Mar, 2005 12:00am
Sterling hits three-week high versus euro

Sterling hits three-week high versus euro

Sterling hit a three-week high against the euro and rose against the dollar on Tuesday after monthly data showed British mortgage approvals had picked up in February. The British Bankers Association said that approvals - loans agreed but not yet made - ro
Published 30 Mar, 2005 12:00am
Dollar holds near five-month high

Dollar holds near five-month high

The dollar hit a five-month high against the yen on Tuesday while it held within a cent of recent six-week peaks on the euro ahead of this week's US data which could bolster the case for further interest rate hikes. The week - packed with potentially doll
Published 30 Mar, 2005 12:00am
London sugar down

London sugar down

London white sugar futures settled weaker on Tuesday after a choppy session that saw plenty of speculative sales and trade buying interest, dealers said. Liffe May settled $1 down at $251.70 a tonne in volume of 4,502 lots after trading between $254.90 an
Published 30 Mar, 2005 12:00am
Oil holds over $54, stockpiles weigh

Oil holds over $54, stockpiles weigh

Oil prices ended with modest gains on Tuesday, holding near $54 a barrel as Opec said it would not immediately increase output to cool the market. Gains were checked by a strong dollar and swelling US crude oil stocks. The Opec cartel's president said the
Published 30 Mar, 2005 12:00am
US corn acres may notch 20-year high

US corn acres may notch 20-year high

Analysts think farmers in the United States will plant more of their land to corn this year than they have for two decades. The US Department of Agriculture (USDA) at 8:30 am EST (1330 GMT) Thursday will release its annual March planting intentions report
Published 30 Mar, 2005 12:00am
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