The rupee depreciated by three paisa against the dollar in the open market on Saturday for buying and selling at 60.53 and 60.58, dealers said. In the absence of major demand for dollars, the rupee managed to limit its losses in terms of the greenback, th
The rupee depreciated by three paisa against the dollar in the open market on Saturday for buying and selling at 60.53 and 60.58, dealers said. In the absence of major demand for dollars, the rupee managed to limit its losses in terms of the greenback, th
Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) -- issued by the Foreign Exchange Rates Comm
Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Global rice production in the 2005/06 marketing year is projected at 410.3 million tonnes, up more than 8 million tonnes from the previous year due to increases in China, India, Bangladesh and Thailand, the US Agriculture Department said on Friday. The US
Drought in eastern Australia will cut official estimates of the new wheat crop next week and could limit national production to just 15-20 million tonnes, official forecasters and grains brokers said on Friday. There has been very little winter crop sowin
India's farmers have the potential to eventually supply most of the cotton needed by the nation's fast-growing textile industry, but it is unclear how soon that will happen, the US Agriculture Department said on Friday. In a special report, the USDA's Eco
Malaysian tin held flat on Friday, despite steady Japanese buying. Spot tin on the Kuala Lumpur Tin Market closed at $7,850 a tonne, on a volume of 105 tonnes. "The buying from the Japanese helped the market close steady but the price did not go up becaus
Soyabean futures at the Chicago Board of Trade rose on Friday, rebounding from Thursday's sell-off, amid uncertainty about how much rain will reach the eastern US Midwest this weekend, traders said. "Everyone is trying to second guess how much rain we're
Chicago Board of Trade rough rice futures closed firm on Friday on follow-through technical buying in quiet trade, floor traders said. July rice closed 5 cents higher at $7.52-1/2 per hundredweight and the deferred were up 4 cents. Volume was light estima
US copper futures closed the week at a 16-year high on Friday, after the US payrolls report hit the dollar when it showed much weaker-than-expected growth in May, traders said. But they were quick to add that copper was already charging up to multi-year h
Gold futures in New York settled up a three-week high on Friday as investors shifted into US dollar alternatives on the heels of a weaker-than-expected US payrolls report for May. In silver, end-of-week profit taking reigned and an eight-day rally dried u
Raw sugar futures finished on Friday at an 11-week high due to robust trade and fund buying, and brokers said the market could move higher on follow-through purchases next week. The New York Board of Trade's July raw sugar contract shot up 0.21 cent, or 2
Commodities prices mostly extended gains last week, with oil and coffee amongst the strongest performers for a second successive week. Raw materials were traded during a shortened week owing to public holidays in the United States and Britain on Monday. T
Singapore's Neptune Orient Lines, the world's sixth-biggest container shipper, on Monday said it carried 14 percent more cargo on its ships in the April 9 to May 6 period than a year earlier. Neptune Orient Lines Ltd (NOL) said in a statement its containe
The Board of Directors of Cosco Corporation (Singapore) Limited wishes to refer to the Company's announcement of 1 December 2003 relating to the signing of the Memorandum of Understanding ("MOU") with the holding company, China Ocean Shipping (Group) Comp
Sales of marine fuels in Singapore hit the highest levels for the year at 2.153 million tonnes in April, just below last December's record high of 2.156 million tonnes, government figures showed on Friday. The April figures were up 4 percent from the prev
The lineup of vessels to load sugar in Brazilian ports rose to 48 on June 1 from 47 the previous week, shipping agent Williams said. In a weekly report, Williams said 34 vessels were lined up in the southern port of Santos, up from 27 last week. In the no
The Karachi Port handled 52,819 tonnes of cargo including 42,432 tonnes import and 10,387 tonnes export cargo including 2,592 containers during last 24 hours ending at 0700 hours on Saturday. The cargo comprised of 44,458 tonnes dry cargo including 39,321
A steep bond rally turned deeply negative, despite a weak US jobs report on Friday. The Canadian bonds soared along with their US counterparts after the US jobs report suggested the pace of US interest rate hikes may slow after eight consecutive increases
A steep bond rally turned deeply negative, despite a weak US jobs report on Friday. The Canadian bonds soared along with their US counterparts after the US jobs report suggested the pace of US interest rate hikes may slow after eight consecutive increases
US corporate bond spreads ended mixed on Friday, capping a week of gains, after a weak jobs report fuelled speculation growth is slowing and bolstered hopes Federal Reserve rate hikes may end sooner than previously thought. Prospects of fewer rate hikes h
US corporate bond spreads ended mixed on Friday, capping a week of gains, after a weak jobs report fuelled speculation growth is slowing and bolstered hopes Federal Reserve rate hikes may end sooner than previously thought. Prospects of fewer rate hikes h
Toronto stocks closed higher on Friday as soaring oil prices pumped up energy issues and the market brushed aside concerns about a slowing US economy. The Toronto Stock Exchange's S&P/TSX composite index closed up 44.53 points, or 0.46 percent, at 9,671.1
US Treasury debt prices retreated on Friday, after an early rally inspired by soft US jobs data caved to a backlash of profit-taking. Payrolls figures for May proved much weaker than Wall Street forecasts, prompting a massive rally that took benchmark yie
US Treasury debt prices retreated on Friday, after an early rally inspired by soft US jobs data caved to a backlash of profit-taking. Payrolls figures for May proved much weaker than Wall Street forecasts, prompting a massive rally that took benchmark yie
Premium Standard Farms Inc, the sixth-largest US pork processor, will launch a public offering of its stock next week just as consumers' taste for bacon and other pork products weakens. Still, the IPO is expected to be warmly received by the market since
European equity investors will continue to focus on the weakening euro next week after the single currency's decline propped up exporters and helped boost shares to 3-year highs. The euro fell to eight-month lows against the dollar after the rejection of
Mexican stocks eased on Friday, taking their cue from Wall Street after a disappointing report on US job creation, while cellphone operator America Movil slipped after strong gains recently. The IPC benchmark stock index fell 0.61 percent to end at 13,204
Argentine stocks backtracked on Friday as investors took profits after a rally on Thursday following the government's announcement it had completed its long-awaited debt swap, traders said. The MerVal index of the 11 leading stocks finished 1.63 percent l
Brazilian stocks and bonds fell on Friday as a decline in US Treasury notes set a negative tone for the market, which was already looking for a reason to pocket recent gains. Talk that magazine reports could bring negative political news during the weeken
VistaPrint Ltd an online supplier of graphic design services and print products, said on Friday that it plans to sell as much as $120 million in an initial public stock offering. The company, which is based in Bermuda, did not provide the number of shares
Chile's blue chip stocks rose to a record closing high on Friday, driven by energy firms like the nation's biggest power generating company Endesa, while the peso slumped to its lowest since mid-March. The IPSA index of the Santiago Stock Exchange's 40 mo
US stocks slid on Friday as investors worried about a faltering economy after a government report showed May payrolls grew at the weakest pace in 21 months and crude oil prices topped $55 a barrel. Apple Computer Inc shares fell nearly 5 percent and hurt
Egypt's government will implement a new tax law on July 1, the state-owned el-Gomhuria newspaper reported on Saturday. The government last year proposed a law cutting income tax and corporate tax on most firms by 50 about percent. Parliament would on Satu
Kuwait needs to address intellectual property rights and labour laws to move towards a free trade agreement with the United States, the US ambassador to the Gulf Arab state said on Saturday. Washington and regional ally Kuwait signed a trade and investmen
A 20-year-old school dropout has hacked into an online banking system and stolen some 50,000 dollars, causing alarm over the security of South Korea's widely-used Internet banking services. Police on Friday arrested the man, identified only by his family
The European Union must explain the economic and political benefits of the bloc after France and the Netherlands voted against the EU Constitution, Europe's Monetary Affairs Commissioner was quoted as saying on Saturday. "The Commission should make all ef
South Korea's second-biggest financial services firm, Shinhan Financial Group, said it was interested in buying both top credit card firm LG Card Co Ltd and national number-five bank Korea Exchange Bank. The declaration on Saturday sets up a potential thr
A European Central Bank (ECB) interest rate cut cannot be ruled out if the European economy weakens, IMF Managing Director Rodrigo Rato was quoted on Saturday as saying. The ECB had the option of cutting rates, Rato said in an interview with Spanish finan
US President George W. Bush said on Saturday the US economic expansion was solid but Democrats faulted him for the loss of jobs to overseas countries a day after the monthly employment report showed tepid hiring in May. "America's economy is on the right
Vietnam, facing a power shortage as demand grows 17 percent a year, has launched a campaign to cut electricity consumption by 10 percent, state media said on Saturday. Public lighting is to be dimmed and air conditioners at state agencies set at 25 degree
India's plethora of banks need to consolidate to compete on the world stage and must contribute to economic growth by lending more widely and efficiently, Prime Minister Manmohan Singh said on Saturday. India wants to expand its $600 billion-plus economy
Hedge funds are expected to become more open about their businesses to meet the needs of financial institutions which account for a significant amount of the total invested in the industry, analysts said. Many hedge funds are also looking at improving dis
Hedge funds are expected to become more open about their businesses to meet the needs of financial institutions which account for a significant amount of the total invested in the industry, analysts said. Many hedge funds are also looking at improving dis
Russia needs to examine the amount of taxes paid by power monopoly Unified Energy System as part of an investigation into last month's major blackout in Moscow, President Vladimir Putin on Saturday. UES, whose liberal CEO Anatoly Chubais has uneasy relati
The general director of Russian regional power firm Mosenergo, Arkady Yevstafyev, has resigned, news agency Interfax reported on Saturday, after a major power outage paralysed Moscow last month. "The reason for his resignation is the unsatisfactory assess
China took a tough line on Saturday in trade talks with US officials on its surging textile exports, signalling no quick breakthrough in a row that threatens to spill over into the diplomatic arena. Vice Premier Wu Yi, who oversees trade, said emergency i
Banca Nazionale del Lavoro's chairman on Saturday said he was ready to talk about an industrial collaboration with insurer Unipol, said to be considering a takeover bid for the Italian bank. A source familiar with the matter told Reuters on Friday a count
Apple Computer Inc plans to announce on Monday that it will switch to using Intel Corp's microprocessors and phase out its current chip supplier, International Business Machines Corp, CNET News.com reported late on Friday. The technology news Web site sai
Apple Computer Inc plans to announce on Monday that it will switch to using Intel Corp's microprocessors and phase out its current chip supplier, International Business Machines Corp, CNET News.com reported late on Friday. The technology news Web site sai
New World Bank president Paul Wolfowitz urged the international community on Friday to deliver on the outpouring of aid pledged for tsunami victims, one of the biggest charitable fund-raising efforts in history. "It is a challenge for the international de
Egypt's main official wheat buyer said on Saturday he had bought 120,000 tonnes of soft white standard wheat from the Australian Wheat Board for July 1-31 shipment. Mahmoud Abdel-Hamid, vice chairman of the General Authority for Supply Commodities (GASC),
Sharp rise was seen on the forward cottonseed oilcake market on Saturday as demand was high, dealers said. The July vaida commenced with 60 paisa loss at Rs 437.50. In the process of trading it gained rupees two to be day's best at Rs 439.50, dealers said
Some 93 bidders participated in the Trading Corporation of Pakistan (TCP) auction on Saturday, cotton market sources said. The official spot rate held its overnight levels at Rs 2225, without upcountry expenses. According to the market sources, 89 mills a
The trading on chemicals moved mixed on Jodia Bazar on Saturday.The following variations were seen in sodium sulphate down 20 paisa to Rs 11.30, formic acid Pak up Re 1 to Rs 49, formic acid Germany down Re 1 to Rs 57, citric acid China down Re 1 to Rs 62
Upward trend was seen on the grain market at the weekend as most of the commodities turned higher on tight supply position, dealers said. On the grams side, garda Punjab picked up Rs 10 to Rs 1710-1760 on slow supplies, brokers said.
India's foreign exchange reserves rose to $139.83 billion on May 27 from $139.65 billion a week earlier, the Reserve Bank of India said in its weekly statistical supplement on Saturday. The central bank said foreign currency assets expressed in United Sta
Brazil's currency gained nearly one percent on Friday after a weak US jobs report underscored hopes the Federal Reserve might soon stop raising US interest rates and thus boost the attractiveness of high yielding assets in emerging markets. The real gaine
Speculators in International Monetary Market currency futures on the Chicago futures exchanges extended their huge net short euro position to the largest in over five years in the week ending May 31, data released on Friday showed. Speculators increased t
The dollar rose against the euro on Friday as sentiment continued to reward higher US interest rates and relatively positive growth prospects over political instability and economic torpor in the euro zone. Against the resilient dollar, the euro slumped t
Investors' ravenous appetite for higher yield assets in a world of low interest rates are driving Latin American currencies to multi-year highs. Investors are rushing to buy up assets in emerging economies such as Brazil and Mexico which have much higher
The Canadian dollar failed to hold on to a good portion of gains against the US currency, while a steep bond rally turned deeply negative, despite a weak US jobs report on Friday. The Canadian dollar finished at C$1.2475to the US dollar or 80.16 US cents,
Javed Omar's unbeaten 60 was a rare highlight for Bangladesh as they tried to deny England a 2-0 series clinching win on the second day of the second and final Test at the Riverside here Saturday. At tea Bangladesh were 108 for three, still needing a furt
Younis Khan hit his ninth Test hundred, and Corey Collymore bowled his heart out, as neither Pakistan nor West Indies conceded an inch in their second and final Test on Friday. Younis fashioned a resolute 106 to lead a Pakistan recovery, but Collymore gai
Spanish sensation Rafael Nadal celebrated his 19th birthday in stunning style on Friday when he crushed Roger Federer's dream of Grand Slam history with a 6-3, 4-6, 6-4, 6-3 win to storm into the French Open final. The fourth seed will face unseeded Argen
Justine Henin-Hardenne of Belgium produced a flawless display of clay court tennis to defeat France's Mary Pierce 6-1, 6-1 here Saturday for her second French Open title. The winner here previously in 2003, it was Henin-Hardenne's fourth Grand Slam title
Two US soldiers were killed in a roadside bomb blast in south-east Afghanistan, the US military said on Saturday, the latest casualties in a surge of violence in recent months. The two were in a convoy in Paktika province, near the Pakistani border when t
Iraqi forces have seized a senior militant leader linked to Jordanian mastermind Abu Musab al-Zarqawi and accused of overseeing an array of deadly attacks in Iraq, the Defence Ministry said on Saturday. A spokesman for the ministry said Mullah Mahdi, some