AGL 37.50 Decreased By ▼ -0.50 (-1.32%)
AIRLINK 211.45 Increased By ▲ 1.07 (0.51%)
BOP 9.41 Decreased By ▼ -0.07 (-0.74%)
CNERGY 6.37 Decreased By ▼ -0.11 (-1.7%)
DCL 8.75 Decreased By ▼ -0.21 (-2.34%)
DFML 42.21 Increased By ▲ 3.84 (10.01%)
DGKC 94.60 Decreased By ▼ -2.32 (-2.39%)
FCCL 35.34 Decreased By ▼ -1.06 (-2.91%)
FFBL 88.94 No Change ▼ 0.00 (0%)
FFL 15.54 Increased By ▲ 0.59 (3.95%)
HUBC 128.21 Decreased By ▼ -2.48 (-1.9%)
HUMNL 13.40 Increased By ▲ 0.11 (0.83%)
KEL 5.37 Decreased By ▼ -0.13 (-2.36%)
KOSM 6.78 Decreased By ▼ -0.15 (-2.16%)
MLCF 43.40 Decreased By ▼ -1.38 (-3.08%)
NBP 59.34 Increased By ▲ 0.27 (0.46%)
OGDC 224.00 Decreased By ▼ -6.13 (-2.66%)
PAEL 38.48 Decreased By ▼ -0.81 (-2.06%)
PIBTL 8.25 Decreased By ▼ -0.06 (-0.72%)
PPL 195.50 Decreased By ▼ -4.85 (-2.42%)
PRL 38.39 Decreased By ▼ -0.49 (-1.26%)
PTC 26.19 Decreased By ▼ -0.69 (-2.57%)
SEARL 100.90 Decreased By ▼ -2.73 (-2.63%)
TELE 8.43 Decreased By ▼ -0.02 (-0.24%)
TOMCL 34.90 Decreased By ▼ -0.35 (-0.99%)
TPLP 13.23 Decreased By ▼ -0.29 (-2.14%)
TREET 25.70 Increased By ▲ 0.69 (2.76%)
TRG 68.79 Increased By ▲ 4.67 (7.28%)
UNITY 34.00 Decreased By ▼ -0.52 (-1.51%)
WTL 1.73 Decreased By ▼ -0.05 (-2.81%)
BR100 11,963 Decreased By -133.4 (-1.1%)
BR30 37,208 Decreased By -507.3 (-1.35%)
KSE100 110,997 Decreased By -1417.8 (-1.26%)
KSE30 34,943 Decreased By -565.2 (-1.59%)
Dec 26, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2005-04-19
Asian oil swaps: prices steady

Asian oil swaps: prices steady

Asian oil swaps prices steadied in late trade on Monday after slipping with US crude oil futures but traders said the Dubai crack stayed firm on tight prompt supply. Brokers quoted May gas oil at $61.45 a barrel, down from $62.50 on Friday. But gas oil's
Published 19 Apr, 2005 12:00am
Implementation on sugar sale SRO suspended

Implementation on sugar sale SRO suspended

The Central Board of Revenue (CBR) on Monday temporarily suspended implementation of SRO 315 (I) 2005, which barred the millers from selling sugar to unregistered dealers/wholesalers, and invited the Pakistan Sugar Mills Association (PSMA) to work out pra
Published 19 Apr, 2005 12:00am
Oil hits eight-week low

Oil hits eight-week low

Oil prices extended a losing streak on Monday, falling briefly to an eight-week low under $50, as growing supplies outweighed worries of rising global demand. US light crude traded as low as $49.66 a barrel, the lowest since February 22, before recovering
Published 19 Apr, 2005 12:00am
Implementation on sugar sale SRO suspended

Implementation on sugar sale SRO suspended

The Central Board of Revenue (CBR) on Monday temporarily suspended implementation of SRO 315 (I) 2005, which barred the millers from selling sugar to unregistered dealers/wholesalers, and invited the Pakistan Sugar Mills Association (PSMA) to work out pra
Published 19 Apr, 2005 12:00am
Rain delay may damage Vietnam coffee industry

Rain delay may damage Vietnam coffee industry

The rainy season is expected to be two weeks late in Vietnam's parched Central Highlands coffee belt, damaging this year's crop and threatening the long-term producing potential of the world's largest robusta producer. "The rains this year will be later t
Published 19 Apr, 2005 12:00am
South Korea to import Indian rice

South Korea to import Indian rice

South Korea said on Monday it had agreed to import about 90,000 tonnes of rice from India up until 2014 and 20,000 tonnes from Egypt, in a deal to maintain rice import quotas that opponents say are not worth the costs. The deputy agriculture minister said
Published 19 Apr, 2005 12:00am
India bullion and soya futures fall on world prices

India bullion and soya futures fall on world prices

Indian gold and silver futures slipped early on Monday with a drop in world prices, while soy contracts fell on sluggish demand, brokers said. Sugar eased on increased selling, with the April contract nearing settlement, they said. At 0712 GMT, June gold
Published 19 Apr, 2005 12:00am
East Asian grain: Japan buying to pick up

East Asian grain: Japan buying to pick up

Japan's import market for soybeans and corn will see some activity from late this week as traders begin purchases before the start of a long holiday beginning late this month, industry sources said on Monday. Import activity in Taiwan is expected to be mo
Published 19 Apr, 2005 12:00am
Thai rubber futures lower as supply improves

Thai rubber futures lower as supply improves

Thai rubber futures fell in thin trade on Monday and prices are expected to dip further in the coming days following a fall on the physical market, brokers said. Overall volume dropped as 32 contracts for benchmark ribbed smoked sheet number three (RSS3)
Published 19 Apr, 2005 12:00am
Rubber extends losses on firm yen in Tokyo

Rubber extends losses on firm yen in Tokyo

Tokyo rubber futures settled lower on Monday pressured by lower oil prices and a firm yen, although a solid spot contract gave some support to prices. The benchmark September rubber contract on the Tokyo Commodity Exchange finished down 1.3 yen per kg at
Published 19 Apr, 2005 12:00am
Malaysian palm oil little moved, awaits export data

Malaysian palm oil little moved, awaits export data

Malaysian palm oil futures were little changed at the close on Monday with dealers cautious about taking fresh positions ahead of this week's export data. Bursa Malaysia Derivatives' new benchmark third-month palm oil contract, July, ended one ringgit low
Published 19 Apr, 2005 12:00am
Russian weekly grain market report

Russian weekly grain market report

Most Russian grain markets, with the exception of milling rye, have shown indications of a forthcoming stabilisation due to a decline of stocks and demand from exporters, traders said. The downward trend has not yet been reversed on the sunseed and sunoil
Published 19 Apr, 2005 12:00am
London coffee up at 10-day peak

London coffee up at 10-day peak

London's robusta coffee rose to a 10-day high on concern dry weather will damage this year's crop in Vietnam, dealers said. July slipped soon after opening to $981 a tonne but later touched $1,010, the top price since April 8. It was trading at $1,004 by
Published 19 Apr, 2005 12:00am
Ukraine and Libya to sign grain deal

Ukraine and Libya to sign grain deal

Ukraine plans to sign a deal to supply 300,000 tonnes of grain to Libya late this year, Oleksander Zynchenko, Ukraine's State Secretary, was quoted as saying on Monday. Zynchenko, who is visiting Libya, said the deal was likely to be signed this week or n
Published 19 Apr, 2005 12:00am
US Midwest soyabean firm, corn mixed

US Midwest soyabean firm, corn mixed

Soyabean basis bids were steady to higher in the US Midwest interior early Monday, and corn basis levels were steady to mixed, as farmer selling remained extremely slow, merchandisers said. Producers were firmly focused on planting corn as nearly summer-l
Published 19 Apr, 2005 12:00am
Argentina's soya plantings seen higher this year: USDA

Argentina's soya plantings seen higher this year: USDA

Soyabean plantings in Argentina's major crop-growing provinces are likely to increase despite falling financial returns for farmers, the US Agriculture Department said on Monday. In a special report, the USDA's Foreign Agricultural Service analysed the pr
Published 19 Apr, 2005 12:00am
Japan to sell thousands of gold coins via auctions

Japan to sell thousands of gold coins via auctions

Japan will sell 32,681 gold coins worth "several billion yen" and dating back to 1871, mostly through auctions, the Ministry of Finance said on Friday. Under a plan announced last September, a panel of experts has appraised the quality of the coins and th
Published 19 Apr, 2005 12:00am
Chinese copper imports seen lower in March

Chinese copper imports seen lower in March

China's refined copper imports fell about 8 to 9 percent in March from the previous month, as high international prices made the industrial metal more expensive, traders estimated this week. But the country exported more primary aluminium, they said, as a
Published 19 Apr, 2005 12:00am
Thai rice futures higher

Thai rice futures higher

Speculative buying pushed Thai rice futures higher on Monday, but prices could ease over the next few days in an overbought market, brokers said. Overall volume rose as 275 contracts of 5 percent white rice were traded compared to last Tuesday's 94. The A
Published 19 Apr, 2005 12:00am
HRW wheat bids mostly firmer

HRW wheat bids mostly firmer

US Plains spot hard red winter wheat basis bids were steady to mostly firmer Monday, with some merchants firming bids to try to free up fresh wheat supplies. The basis climbed 5 cents a bushel in Enid, Oklahoma, was 5 cents firmer in Hutchinson, Kansas, a
Published 19 Apr, 2005 12:00am
CIF Gulf corn lower, poor demand weighs soya

CIF Gulf corn lower, poor demand weighs soya

US CIF Gulf corn basis values were steady to lower on Monday, while a lack of fresh export demand weighed on soyabeans, traders said. The wheat market was supported by a sale to Egypt's General Authority for Supply Commodities, which bought 55,000 tonnes
Published 19 Apr, 2005 12:00am
Santos port to double soya capacity

Santos port to double soya capacity

A new grains terminal in Santos will double capacity to ship soya from Brazil's main port and make it the largest agricultural port in the country when it opens in three years, officials said on Thursday. Construction on the Guaruja Grains Terminal (TGG)
Published 19 Apr, 2005 12:00am
Cosco Pacific to build container terminal in Nansha port

Cosco Pacific to build container terminal in Nansha port

Cosco Pacific Ltd said on Monday it has agreed to form a joint venture with a total investment of 4 billion yuan (US $483 million) to build and operate a container terminal in the port of Nansha in China's southern Guangdong province. Cosco Pacific will h
Published 19 Apr, 2005 12:00am
Greek shipping firm seeks 43 million pounds in UK float

Greek shipping firm seeks 43 million pounds in UK float

Global Oceanic Carriers (GO) is seeking to raise 43 million pounds ($81 million) next month when it becomes the first Greek shipping company to list on London's junior AIM share market. GO, a newly formed shipping firm involved in ownership, chartering an
Published 19 Apr, 2005 12:00am
Daewoo's Romanian unit wins ship orders

Daewoo's Romanian unit wins ship orders

South Korea's Daewoo Shipbuilding and Marine Co, the world's second-largest shipbuilder, said on Sunday its Romanian unit had won $850 million in orders from German shipping companies. Daewoo said the unit, Daewoo Mangalia Heavy Industries S.A., would del
Published 19 Apr, 2005 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 45,477 tonnes of cargo including 24,103 tonnes import and 21,374 tonnes export cargo inclusive of 1,666 containers, during last 24 hours ending at 0700 hours on Monday. The cargo comprised of 29,229 tonnes dry cargo including 7,73
Published 19 Apr, 2005 12:00am
Ukraine has 8.8 million tonnes grain

Ukraine has 8.8 million tonnes grain

Large and medium-sized Ukrainian agriculture companies had 8.81 million tonnes of grain as of April 1, down from 10.3 million as of March 1, a local agriculture agency said on Monday, quoting official data. APK-Inform said the country's wheat stocks amoun
Published 19 Apr, 2005 12:00am
Oil cake market rates

Oil cake market rates

Futures moved both ways on the forward cottonseed oilcake market on Monday as buyers continued buying on anticipation of increase in the prices, dealers said. The May vaida commenced with 40 paisa gain at Rs 442.60 and that proved to be day's lowest at th
Published 19 Apr, 2005 12:00am
Tug of war over cotton prices on; no deal reported

Tug of war over cotton prices on; no deal reported

The official spot rates were higher on the cotton market on Monday as the Pakistan Cotton Ginners Association (PCGA) issued its final arrival figure, brokers said. The official spot rates picked up Rs 25 to Rs 2225, without upcountry expenses.The cotton p
Published 19 Apr, 2005 12:00am
German wheat offers

German wheat offers

German farmers offered 137,000 tonnes of wheat for European Union intervention subsidies in the past week, bringing total offers this season to 2,317,000 tonnes, state purchasing agency BLE said on Monday. This continued the level of about 100,000 tonnes
Published 19 Apr, 2005 12:00am
Gur higher, Irri lower

Gur higher, Irri lower

Slow business was seen on the cottonseeds oilcake market on Monday as no interest was shown in fresh buying partly because of the higher trend in the prices, dealers said. On the cereals side, Gur inferior type gained Rs 100 to Rs 2100 and the best type a
Published 19 Apr, 2005 12:00am
New Zealand shares down

New Zealand shares down

New Zealand share prices closed down almost two percent on Monday following steep falls in overseas equity markets, dealers said. The benchmark NZSX-50 gross index ended down 58.02 points or 1.93 percent at 2,952.77, under the 3,000 mark for the first tim
Published 19 Apr, 2005 12:00am
Australian shares sag on growth concerns

Australian shares sag on growth concerns

Australian share prices closed sharply lower on Monday as investors reacted to a negative lead from Wall Street and weakness on Asian markets fuelled by concerns about global growth prospects, dealers said. They said that while growth concerns have been h
Published 19 Apr, 2005 12:00am
Taiwan stocks slump to near six-month low

Taiwan stocks slump to near six-month low

Taiwan stocks slid 2.94 percent on Monday to their lowest close in nearly 6 months, as a Wall Street tumble triggered strong stop-loss selling across the board on worries over demand for electronics. The main TAIEX fell as much as 3.5 percent before endin
Published 19 Apr, 2005 12:00am
Chinese shares decline, haunted by Baosteel

Chinese shares decline, haunted by Baosteel

China's shares sagged 1.6 percent on Monday as investors cashed out of large caps amid lingering concerns that a record stock sale by Baoshan Iron and Steel Co Ltd would suck funds from the market. The Shanghai composite index closed at 1,197.735 points t
Published 19 Apr, 2005 12:00am
Hong Kong stocks end near three-month low on US slowdown worries

Hong Kong stocks end near three-month low on US slowdown worries

Hong Kong stocks ended near a three-month low on Monday, falling 2 percent on worries about slowing US economic growth. "It's a fundamental correction. It's a fundamental adjustment in the outlook for the US economy," said Francis Lun, general manager at
Published 19 Apr, 2005 12:00am
Japanese government bond futures hit 14-month high

Japanese government bond futures hit 14-month high

Key 10-year Japanese government bond (JGB) futures shot to a 14-month high on Monday as worries about slowing US growth prompted investors to buy bonds and push Tokyo shares to a four-month closing low. The Nikkei share average tumbled 3.8 percent to fini
Published 19 Apr, 2005 12:00am
Japanese government bond futures hit 14-month high

Japanese government bond futures hit 14-month high

Key 10-year Japanese government bond (JGB) futures shot to a 14-month high on Monday as worries about slowing US growth prompted investors to buy bonds and push Tokyo shares to a four-month closing low. The Nikkei share average tumbled 3.8 percent to fini
Published 19 Apr, 2005 12:00am
Jakarta shares slip on regional market slump

Jakarta shares slip on regional market slump

Indonesian share prices closed sharply lower on Monday, falling 3.31 percent in line with regional markets amid worries over the outlook for the US economy, with sentiment also undermined by the rupiah's weakness, dealers said. The Jakarta Stock Exchange
Published 19 Apr, 2005 12:00am
Malaysian shares fall

Malaysian shares fall

Malaysian share prices closed 0.87 percent lower on Monday as investors remained sidelined in the absence of fresh positive news and sentiment was undermined by heavy Wall Street losses which sparked a regional sell-off, dealers said. The Kuala Lumpur Com
Published 19 Apr, 2005 12:00am
Philippines shares plunge

Philippines shares plunge

Philippines share prices closed 2.42 percent lower on Monday, extending losses in line with a sharply weaker region as sentiment was undercut by a proposed rise in corporate tax and concerns that the US economy has hit a soft patch, dealers said. The Sena
Published 19 Apr, 2005 12:00am
Singapore shares tumble

Singapore shares tumble

Singapore shares closed 1.98 percent lower on Monday, falling in line with a major regional sell-off after further heavy losses on Wall Street amid concerns about corporate earnings, particularly in the technology sector, dealers said. The Straits Times I
Published 19 Apr, 2005 12:00am
Seoul shares slide on soft techs

Seoul shares slide on soft techs

Seoul stocks slumped to their lowest close in 2 1/2 months on Monday, as grim earnings from Samsung Electronics and IBM sparked a sell-off in the tech sector, while worries about the US economy battered exporters. The benchmark Korea Composite Stock Price
Published 19 Apr, 2005 12:00am
Sri Lankan stocks stumble

Sri Lankan stocks stumble

Sri Lankan stocks fell on Monday as small investors skimmed profits on select shares after last week's record gains, brokers said. The key Colombo all-share index fell a provisional 0.23 percent to 1,775.56 points. The bourse hit a new life closing high o
Published 19 Apr, 2005 12:00am
Thai shares weaken

Thai shares weaken

Thai share prices closed sharply lower on Monday, dropping 3.06 percent in line with weaker regional markets after a sharp fall on Wall Street as investors returned from a long public holiday last week, dealers said. The Stock Exchange of Thailand composi
Published 19 Apr, 2005 12:00am
Nikkei falls 3 percent on US economy, China protests

Nikkei falls 3 percent on US economy, China protests

The Nikkei share average tumbled 3.8 percent to close at a four-month low on Monday as growing concerns about the US economy and spreading anti-Japan protests in China triggered selling across the board. The Nikkei posted its biggest one-day percentage lo
Published 19 Apr, 2005 12:00am
Toshiba to launch hard disk drive-equipped LCD TVs

Toshiba to launch hard disk drive-equipped LCD TVs

Japan's Toshiba Corp said on Monday it would launch liquid crystal display (LCD) televisions equipped with an internal hard disk drive (HDD) as it seeks to boost its share in the rapidly growing flat-panel TV market. The new televisions, which would enabl
Published 19 Apr, 2005 12:00am
Toshiba to launch hard disk drive-equipped LCD TVs

Toshiba to launch hard disk drive-equipped LCD TVs

Japan's Toshiba Corp said on Monday it would launch liquid crystal display (LCD) televisions equipped with an internal hard disk drive (HDD) as it seeks to boost its share in the rapidly growing flat-panel TV market. The new televisions, which would enabl
Published 19 Apr, 2005 12:00am
Japan outlook to stay on hold for 2 years: Moody's

Japan outlook to stay on hold for 2 years: Moody's

Moody's Investors Service said on Monday it would not raise its stable outlook on Japan's sovereign rating for at least the next two years due to persistent worries about the nation's ballooning public debt. Moody's sovereign analyst Tom Byrne told Reuter
Published 19 Apr, 2005 12:00am
China insurer profits rise despite market woes

China insurer profits rise despite market woes

China's two dominant life insurers reported solid 2004 earnings on Monday despite a difficult domestic market for their investment portfolios. China Life Insurance Co, the mainland's largest life underwriter, reported better-than-forecast earnings as its
Published 19 Apr, 2005 12:00am
China insurer profits rise despite market woes

China insurer profits rise despite market woes

China's two dominant life insurers reported solid 2004 earnings on Monday despite a difficult domestic market for their investment portfolios. China Life Insurance Co, the mainland's largest life underwriter, reported better-than-forecast earnings as its
Published 19 Apr, 2005 12:00am
SunTrust profit rises

SunTrust profit rises

SunTrust Banks Inc, the No 7 US bank, on Monday said first-quarter profit rose 36 percent, helped by loan and deposit growth, a big drop in bad loans and its acquisition of National Commerce Financial Corp Net income for Atlanta-based SunTrust rose to $49
Published 19 Apr, 2005 12:00am
SunTrust profit rises

SunTrust profit rises

SunTrust Banks Inc, the No 7 US bank, on Monday said first-quarter profit rose 36 percent, helped by loan and deposit growth, a big drop in bad loans and its acquisition of National Commerce Financial Corp Net income for Atlanta-based SunTrust rose to $49
Published 19 Apr, 2005 12:00am
Fuji and Livedoor strike $1.6 billion deal to end battle

Fuji and Livedoor strike $1.6 billion deal to end battle

Japan's Fuji Television Network Inc agreed on Monday to pay a total $1.65 billion to end a two-month take-over fight over an affiliate with Internet portal Livedoor Co in what analysts called a face-saving deal that offered little benefit to shareholders.
Published 19 Apr, 2005 12:00am
Fuji and Livedoor strike $1.6 billion deal to end battle

Fuji and Livedoor strike $1.6 billion deal to end battle

Japan's Fuji Television Network Inc agreed on Monday to pay a total $1.65 billion to end a two-month take-over fight over an affiliate with Internet portal Livedoor Co in what analysts called a face-saving deal that offered little benefit to shareholders.
Published 19 Apr, 2005 12:00am
Investment banks home in on hedge fund M&A fees

Investment banks home in on hedge fund M&A fees

Investment banks in Europe are lining up for a bigger slice of business from hedge funds, which are moving deeper into the M&A arena hoping for juicy returns from a boom in private equity deals, bankers say. Hedge funds are already huge money-spinners for
Published 19 Apr, 2005 12:00am
Investment banks home in on hedge fund M&A fees

Investment banks home in on hedge fund M&A fees

Investment banks in Europe are lining up for a bigger slice of business from hedge funds, which are moving deeper into the M&A arena hoping for juicy returns from a boom in private equity deals, bankers say. Hedge funds are already huge money-spinners for
Published 19 Apr, 2005 12:00am
General Electric buys part of Bombardier unit for $1.4 billion

General Electric buys part of Bombardier unit for $1.4 billion

General Electric Co said on Monday it will buy part of Bombardier Inc's financing division for $1.4 billion, the latest acquisition by GE's highly profitable commercial finance unit. GE Commercial Finance, the business-to-business financing unit for the i
Published 19 Apr, 2005 12:00am
Norilsk spins off gold business

Norilsk spins off gold business

Russian metals giant Norilsk Nickel said on Monday it would spin off and float its gold business, creating what could become the first big pure play stock in Russia's promising gold sector. The world's number one nickel and palladium producer said the new
Published 19 Apr, 2005 12:00am
Australia recognises China as free market economy

Australia recognises China as free market economy

Australia recognised China as a free market economy during a visit to Beijing by Prime Minister John Howard on Monday and the two countries agreed to start long-awaited free trade talks. Granting China market status amounts to a goodwill gesture by Austra
Published 19 Apr, 2005 12:00am
Coca-Cola settles SEC probe

Coca-Cola settles SEC probe

Coca-Cola Co agreed to undertake internal reforms to settle a long-running accounting probe related to the soft drink giant's dealings with Japanese bottlers, the US Securities and Exchange Commission said on Monday. Under the agreement, Coca-Cola, the wo
Published 19 Apr, 2005 12:00am
Coca-Cola settles SEC probe

Coca-Cola settles SEC probe

Coca-Cola Co agreed to undertake internal reforms to settle a long-running accounting probe related to the soft drink giant's dealings with Japanese bottlers, the US Securities and Exchange Commission said on Monday. Under the agreement, Coca-Cola, the wo
Published 19 Apr, 2005 12:00am
Lloyds offers free money transfers to India

Lloyds offers free money transfers to India

British bank Lloyds TSB Group Plc is targeting Britain's 1.2 million Indians to offer free money transfers between the UK and India in a partnership with ICICI Bank Ltd, Lloyds TSB said on Monday. The UK bank's customers will also be able to use the servi
Published 19 Apr, 2005 12:00am
Opec to raise oil supply, not quotas

Opec to raise oil supply, not quotas

The Opec oil cartel will raise supply to near 25-year highs next month even though it will postpone a formal rise in production quotas until a June meeting, the group's president said on Monday. Kuwait's Sheikh Ahmad al-Fahd al-Sabah said that the group w
Published 19 Apr, 2005 12:00am
More bank data may not aid fight against terrorism

More bank data may not aid fight against terrorism

A plan to force banks into disclosing hundreds of millions of wire transfers to help fight terrorist financing would overwhelm bankers and regulators and add questionable value to the war on terrorism, experts and officials say. The proposal is being stud
Published 19 Apr, 2005 12:00am
Bank of America profit up

Bank of America profit up

Bank of America Corp, the No 3 US bank, on Monday said first-quarter profit surged 75 percent to a record, on increased consumer and commercial lending, higher trading income, and the acquisition of FleetBoston Financial Corp Net income rose to $4.7 billi
Published 19 Apr, 2005 12:00am
Bank of America profit up

Bank of America profit up

Bank of America Corp, the No 3 US bank, on Monday said first-quarter profit surged 75 percent to a record, on increased consumer and commercial lending, higher trading income, and the acquisition of FleetBoston Financial Corp Net income rose to $4.7 billi
Published 19 Apr, 2005 12:00am
Eurozone first-quarter picks up speed

Eurozone first-quarter picks up speed

The eurozone economy picked up speed in the first quarter of 2005 but March inflation was just above the European Central Bank's medium-term target level of 2 percent, the European Commission said on Monday. In a report on the economy of the 12-nation are
Published 19 Apr, 2005 12:00am
Bank of China profits jump

Bank of China profits jump

Bank of China, the country's largest foreign-currency lender, said it would push ahead with reforms in the wake of financial scandals as it unveiled a 45.8 percent jump in first-quarter pretax profit. Management has taken measures to beef up internal cont
Published 19 Apr, 2005 12:00am
Bank of China profits jump

Bank of China profits jump

Bank of China, the country's largest foreign-currency lender, said it would push ahead with reforms in the wake of financial scandals as it unveiled a 45.8 percent jump in first-quarter pretax profit. Management has taken measures to beef up internal cont
Published 19 Apr, 2005 12:00am
Philips sinks on weak first-quarter net profit and revenues

Philips sinks on weak first-quarter net profit and revenues

Overcapacity in chips and liquid-crystal displays (LCDs) depressed first-quarter profit at Dutch electronics group Philips Electronics, sending its shares 4 percent lower on Monday. Net profit at the world's biggest lighting maker and Europe's top consume
Published 19 Apr, 2005 12:00am
Philips sinks on weak first-quarter net profit and revenues

Philips sinks on weak first-quarter net profit and revenues

Overcapacity in chips and liquid-crystal displays (LCDs) depressed first-quarter profit at Dutch electronics group Philips Electronics, sending its shares 4 percent lower on Monday. Net profit at the world's biggest lighting maker and Europe's top consume
Published 19 Apr, 2005 12:00am
Hungary changes finance minister

Hungary changes finance minister

Hungary's Prime Minister Ferenc Gyurcsany sacked his finance minister on Monday and picked a party stalwart as his replacement, hoping the move will get the ruling Socialists to back badly needed fiscal reforms. The Socialist government has failed to meet
Published 19 Apr, 2005 12:00am
Adobe to buy Macromedia for $3.4 billion

Adobe to buy Macromedia for $3.4 billion

Software maker Adobe Systems Inc said on Monday it agreed to buy multimedia software firm Macromedia Inc for about $3.4 billion in stock, in order to extend its lead in the market for creating and distributing digital documents. Adobe, best known for its
Published 19 Apr, 2005 12:00am
Flexible European Union budget rules could hinder ECB: Buba

Flexible European Union budget rules could hinder ECB: Buba

The Bundesbank criticised European Union policymakers on Monday for loosening the bloc's deficit rules and said it could make the European Central Bank's job of setting interest rates more difficult. The watered-down borrowing rules, agreed last month and
Published 19 Apr, 2005 12:00am
Henin-Hardenne wins WTA title

Henin-Hardenne wins WTA title

Justine Henin-Hardenne cemented her comeback from illness and injury on Sunday with a straight-set victory over second-seeded Elena Dementieva in thee 1.3 million-dollar WTA claycourt tournament here. The former world number one from Belgium, now ranked 3
Published 19 Apr, 2005 12:00am
Ganguly ban upheld as appeal fails

Ganguly ban upheld as appeal fails

Indian captain Sourav Ganguly's appeal against a six-match one-day international ban was rejected by the International Cricket Council (ICC) on Sunday. However the world governing body said, in view of the disruption caused by the uncertainty over Ganguly
Published 19 Apr, 2005 12:00am
Underdogs Pakistan have the last laugh

Underdogs Pakistan have the last laugh

When Inzamamul Haq was named captain of young Pakistan's squad in February for the first cricket tour of India in six years, critics said he was merely leading lambs for the slaughter. The team was thin on experience, especially in the bowling department
Published 19 Apr, 2005 12:00am
Tikolo returns to lead Kenya

Tikolo returns to lead Kenya

Kenyan cricket selectors on Monday reappointed former captain Steve Tikolo to lead the national team in this month's ICC Intercontinental Cup match against Uganda in Kampala. The 33-year-old batsman had announced his decision to step down after the ICC Ch
Published 19 Apr, 2005 12:00am
Clarke's woes help lift Lonard to first PGA Tour win

Clarke's woes help lift Lonard to first PGA Tour win

Darren Clarke's nightmarish final round held Australian Peter Lonard realise the dream of his first US PGA Tour victory at The Heritage here Sunday. Clarke's third double-bogey at the par-four 18th hole - where the two men had arrived at the tee tied for
Published 19 Apr, 2005 12:00am
India-conquering Pakistani cricketers return home

India-conquering Pakistani cricketers return home

The victorious Pakistan cricket team returned home on Monday evening from their memorable tour of India to a heroes welcome from hundreds of fans. Pakistan, described as the weakest team ever to tour India by critics, drew the three-match Test series 1-1
Published 19 Apr, 2005 12:00am
Political crisis overshadows Zimbabwe freedom party

Political crisis overshadows Zimbabwe freedom party

Zimbabwe President Robert Mugabe, accused by his critics of rigging three successive elections, on Monday defended his democratic record and his management of an economy in its worst crisis in decades. At a ceremony celebrating 25 years of independence fr
Published 19 Apr, 2005 12:00am
WHO says Marburg still a threat in Angola

WHO says Marburg still a threat in Angola

International health experts said on Monday they feared Angola's deadly Marburg epidemic might escalate and spread quickly, although Angolan officials said the outbreak was under control. The Ebola-like disease has killed 235 people and infected 22 more,
Published 19 Apr, 2005 12:00am
Fair Kyrgyz poll needed to cement stability: OSCE

Fair Kyrgyz poll needed to cement stability: OSCE

Europe's main democracy body called on Kyrgyzstan on Monday to hold a free and democratic July 10 presidential election to win credibility for a new leader after last month's toppling of President Askar Akayev. The Organisation for Security and Cooperatio
Published 19 Apr, 2005 12:00am
Comoros volcano spews ash, fearful residents pray

Comoros volcano spews ash, fearful residents pray

A volcano spewed ash in the Indian Ocean Comoros islands for a second day on Monday, stoking fears the angry mountain's first eruption in more than a decade could release a river of deadly lava. "People are really scared. We don't know which way the lava
Published 19 Apr, 2005 12:00am
Immigration firestorm could scorch Blair

Immigration firestorm could scorch Blair

"The country's full up," said Sushila Nath as she shopped for saris in one of the most ethnically diverse areas of Britain's second-largest city. "We've got no proper hospitals. Everything is very crowded. There are too many people coming here," added the
Published 19 Apr, 2005 12:00am
Australian dollar lower

Australian dollar lower

The Australian dollar languished around 76.50 US cents on Monday as offshore investors dumped the currency in response to falling Asian equity and commodity markets. The Aussie was $0.7646/49, well below overnight highs of $0.7714 and compared with $0.766
Published 19 Apr, 2005 12:00am
Mumbai forex markets shut for holiday

Mumbai forex markets shut for holiday

Debt and currency markets in India's financial hub Mumbai are shut on Monday for a local holiday, but the stock exchanges are open. Currency markets in other Indian cities are open, but dealers said they expect thin trading. The rupee ended at 43.8225/827
Published 19 Apr, 2005 12:00am
Swiss franc little changed

Swiss franc little changed

The Swiss franc was little changed against the US dollar in early trade on Monday after a meeting of the Group of Seven economic powers failed to inspire market sentiment and ahead of fresh Swiss economic data. The statement from the meeting of G7 finance
Published 19 Apr, 2005 12:00am
Dollar climbs on weak Asian stocks, G7 no surprise

Dollar climbs on weak Asian stocks, G7 no surprise

The dollar clawed higher on Monday, boosted by big losses in Asian stock prices as the currency market shrugged off the Group of Seven economic powers repeating a call for more flexible exchange rates. The dollar edged up against the yen as Japan's benchm
Published 19 Apr, 2005 12:00am
Hong Kong dollar forwards discount widens

Hong Kong dollar forwards discount widens

Discounts on Hong Kong dollar forwards widened sharply on Monday amid a renewed bout of Chinese yuan revaluation speculation, dealers said. "The fall in forwards may be due to G7 comments. The comments will affect people's expectations of a revaluation in
Published 19 Apr, 2005 12:00am
Chinese yuan ends stronger

Chinese yuan ends stronger

The yuan on Monday ended a notch stronger at 8.2764 per US dollar, near the stronger end of its managed trading range. The one-year non-deliverable dollar forward discount versus the yuan was at 3,850 points, implying a rate of 7.8930 yuan per dollar in 1
Published 19 Apr, 2005 12:00am
Berlusconi on verge of resolving crisis

Berlusconi on verge of resolving crisis

Italy's political crisis appeared over on Monday after a rebel centrist party said it had reached a deal with Prime Minister Silvio Berlusconi to return to government, averting snap elections. A senior member of the Union of Christian Democrats (UDC) said
Published 19 Apr, 2005 12:00am
Last killer flu lab samples seen destroyed soon: WHO

Last killer flu lab samples seen destroyed soon: WHO

All laboratories that received a killer flu bug in test kits have destroyed the virus, except for a few in the United States where the job should be done in a day or two, the World Health Organisation (WHO) said on Monday. "We think that it should all be
Published 19 Apr, 2005 12:00am
North Korea halts nuclear reactor: Seoul

North Korea halts nuclear reactor: Seoul

North Korea has suspended the operation of its nuclear reactor in Yongbyon, a South Korean foreign ministry official said on Monday, a move analysts said could be aimed at extracting material for nuclear weapons. The official said the purpose of the stopp
Published 19 Apr, 2005 12:00am
Court rejects petitions against Gaza pullout

Court rejects petitions against Gaza pullout

Israel's Supreme Court on Monday threw out a bid by rightist Jewish settlers to bar legislation that cleared the way to a withdrawal from the occupied Gaza Strip later this year. It was a further setback for settlers waging a rearguard battle against evac
Published 19 Apr, 2005 12:00am
Japan and China fail to halt free fall in relations

Japan and China fail to halt free fall in relations

Japan and China held talks in Beijing on Monday but failed to halt a free fall in ties after a third weekend of demonstrations in China against what many see as Japan's inability to face up to its wartime past. There was little sign of headway after the v
Published 19 Apr, 2005 12:00am
Cardinals closed in Sistine Chapel for conclave

Cardinals closed in Sistine Chapel for conclave

Roman Catholic cardinals began a conclave on Monday to find a successor to Pope John Paul after a leading contender staked out conservative battle-lines with a call for the next pontiff to uphold traditional values. One by one, the red-robed cardinals pla
Published 19 Apr, 2005 12:00am
Previous Day