Modest recovery was seen in the rupee's value against the dollar in the inter-bank market on Saturday for buying and selling at 59.62 and 59.64, respectively, dealers said. The rupee managed to gain some grounds on easy supply of dollars, dealers said. In
Modest recovery was seen in the rupee's value against the dollar in the inter-bank market on Saturday for buying and selling at 59.62 and 59.64, respectively, dealers said. The rupee managed to gain some grounds on easy supply of dollars, dealers said. In
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
Hong Kong-based bulk carrier Pacific Basin Shipping Ltd said on Wednesday that a recent slide in ocean bulk freight rates was seasonal and predicted prices would recover in autumn, when trade traditionally picks up. But the operator of a "Handysize" fleet
The lineup of vessels to load sugar in Brazilian ports dropped to 44 on June 8, from 48 the previous week, shipping agent Williams said. In a weekly report, Williams said 31 vessels were lined up in the southern port of Santos, down from 34 last week. In
Some 171 million children around the world work in mines, quarries and other hazardous places or with dangerous materials like chemicals, pesticides and heavy machinery, the United Nations said on Friday. They are among an estimated 246 million child labo
Singapore bunker prices were higher on Friday, tracking rising fuel oil cargo values, as the bunker/cargo premium widened, dealers said. Prices for 380-centistoke (cst) bunker fuel were pegged at $251-$253 a tonne, up $6 a tonne from Thursday, with the bu
Peaking Chinese demand for iron ore, easing port congestion in Australia and a rising supply of ships are capping benchmark Asian shipping rates, regional brokers said on Tuesday. Spot voyage rates for modern panamax vessels for the benchmark US Gulf to J
Conglomerate Hutchison Whampoa Ltd, looking to offset 3G telecoms start-up losses, will sell a stake in its flagship Hong Kong container port operations to Singapore's state-owned port operator for US $800 million, a Hong Kong newspaper reported on Thursd
The Karachi Port handled 58,924 tonnes of cargo including 34,433 tonnes import and 24,491 tonnes export cargo including 2,767 containers during last 24 hours ending at 0700 hours on Saturday. The cargo comprised of 52,404 tonnes dry cargo including 35,604
DuPont recently announced it has signed an agreement with the Republic of Korea to build a $12 million nonwovens market development manufacturing facility in the province of Gyeong-gi, near Seoul, according to a press released. "This agreement is an examp
Italy's UniCredito plans nearly 10,000 job cuts if it takes over Germany's second biggest bank, HVB Group, as expected, a source close to the deal said on Saturday. "The cuts will be in Germany and in eastern Europe but they will be pretty light in the ov
The rock stars are again singing against poverty and the G8 has put it at the top of its agenda, but, away from the headlines, many of the hungry are getting hungrier as cash shortages force aid agencies to cut rations. The world's biggest food aid agency
EU Trade Commissioner Peter Mandelson said on Saturday the bloc's deal with China over Chinese textile exports showed the virtue of free trade but also the necessity to intervene to soften transition phases. The 25-member bloc and China on Friday clinched
Finding the right Asia-based hedge fund managers has proven tough for Singapore's state investment agency Temasek Holdings Temasek's asset management arm, Fullerton Fund Management, met 161 hedge fund managers in Singapore, Greater China, Japan and Austra
Finding the right Asia-based hedge fund managers has proven tough for Singapore's state investment agency Temasek Holdings Temasek's asset management arm, Fullerton Fund Management, met 161 hedge fund managers in Singapore, Greater China, Japan and Austra
Risks to eurozone inflation have decreased due to weak growth but money supply continues to expand strongly, European Central Bank Chief Economist Otmar Issing said in an interview published on Saturday. Asked if the central bank was considering a cut in
New French Prime Minister Dominique de Villepin reiterated on Saturday that his government's main priority was the battle for jobs, saying the current unemployment rate was "unacceptable." "10 percent of unemployment in France, more than 20 percent of une
Russia is pushing to complete World Trade Organisation membership requirements by the end of this year and hopes to formally join in 2006, but not at any cost, Finance Minister Alexei Kudrin said on Saturday. A senior WTO official said this week that Russ
The suspended chief executive of debt-ridden jet fuel trader China Aviation Oil (CAO) has been freed from jail after posting a two-million Singapore dollar (1.2 million US) bail, reports said Saturday. Chen Jiulin, who is at the centre of the city-state's
Kuwait is expected to post a record budget surplus of up to 5.29 billion dinars ($18 billion) in the fiscal year which ends March 2006 thanks to high oil prices, the country's leading bank said in a report. If that higher forecast pans out, that would giv
The Group of 77 plus China will take up UN reform and measures to strengthen their developing economies next week in Doha, Qatar, their first meeting in five years. Leaders from the 132 countries now in the G-77, as the UN alliance of developing states is
Saudi Oil Minister Ali al-Nuaimi has said an output hike of 500,000 barrels per day (bpd) at Opec's upcoming meeting was "taken for granted," Al-Arabiya television reported Saturday. The news channel said Nuaimi made the statement to its correspondent in
US copper futures closed with healthy gains and spot copper finished at a new 16-year high on Friday as further drawdowns in copper supplies and tightness in nearby contracts sparked short-cover buying that lead to new long fund positions, traders said. "
Raw sugar futures closed mixed on Friday as switch trade took centre stage in the market, with investors getting out of positions in the spot July contract before it expires at month's end, brokers said. Analysts said further attempts by sugar to crawl pa
More rain in parts of Australia's drought-stricken wheat and barley belt has raised hopes that planting can proceed after months of dry weather. Rain continued to fall in growing areas across South Australia and Victoria on Friday, after light to moderate
Although global soyabean production will rise in 2005/06, worldwide oilseed production is forecast to fall 4.1 million tonnes from the previous year to 276.9 million tonnes due to smaller cottonseed and rapeseed crops, the US Agriculture Department said o
Australian wool prices slipped this week, losing 1.5 percent in average values as the market felt the pinch of a stronger Australian dollar, analysts said on Friday. The AWEX Eastern Market Indicator (EMI) fell 11 cents to finish the week at 713 cents a k
US nearby arabica coffee futures fell 2.9 percent on Friday to settle at their lowest in four months, depressed by speculative selling in sympathy with a sharp drop in London's robusta market, traders said. The New York Board of Trade's July arabica contr
The Chicago Board of Trade soyabean market closed lower on Friday after a volatile session with weather unknowns driving the market up then down, traders said. There were conflicting outlooks on how much rain will move through the parched areas of the eas
New York gold futures rallied to a one-month high on Friday, shaking off a morning fall with traders heartened by the metal's unusual imperviousness to a rallying dollar, market sources said. A rebound in the greenback this week pushed the euro to a nine
Japan's Agriculture Ministry has asked importers of US corn to obtain certificates stating cargoes do not contain Bt-10 biotech corn to ensure supplies tainted with the illegal strain are not shipped to Japan. A ministry official said on Friday unless imp
Metals prices dropped last week as the dollar firmed, while oil extended gains and coffee fell from five-year high points. The Commodities Research Bureau's index of 17 commodities fell to 303.02 points on Friday, from 306.13 points the previous week.
Firm trend was seen on the forward cottonseed oilcake market on Saturday as prices maintained their overnight levels in process of trading, dealers said. The July vaida commenced with modest loss of 60 paisa to Rs 438.20. In the process of trading, it pic
Highest bid of the season so farreceived by the Trading Corporation of Pakistan (TCP) in it's Saturday auction, dealers said. The Karachi Cotton Association (KCA) official spot rate held its overnight level at Rs 2225, without upcountry expenses. The TCP
China will import 1.5 million fewer bales of cotton than previously forecast from the United States this year, the US Department of Agriculture said on Friday. According to the USDA's monthly World Agricultural Supply and Demand Estimates report, China is
The trading on Kirana items moved both ways here on Jodia Bazar on Saturday. The following variations were seen in nutmug down Rs 400 to Rs 8200, cloves up Rs 150 to Rs 9350, dry ginger down Rs 100 to Rs 8000, Isbaghol Bhoosi up Rs 300 to Rs 8800, cuminse
Thin trading was seen on the grain market on Saturday as most of the commodity items maintained their overnight levels on better supply position, dealers said. On the rice sector, the irri-white was down by Rs 10 to Rs 1080-1090, they observed. Other grai
In stark contrast to the United States, Japan has taken a soft approach as it tries to convince China to let its currency appreciate, always saying that only Beijing can decide when the time is right. But analysts note a recent shift in tone. Japanese pol
China will have to re-value the yuan to help reduce trade frictions and ward off economic overheating, a state-run newspaper said on Friday, while the New York Times said the Politburo's standing committee is actively considering ending the currency's dec
Speculators in International Monetary Market currency futures on the Chicago futures exchanges increased their net short Swiss franc position to the largest in over six years in the week ending June 7, data released on Friday showed. They also kept their
The dollar surged to a fresh nine-month high against the euro on Friday as its recent rally gained extra momentum from a narrower-than-expected US trade deficit. The trade gap widened to $56.96 billion in April the fourth widest on record but was narrower
Brazil's stocks and currency firmed on Friday as lower-than-expected inflation data signalled local interest rates may stop rising, tempering the impact of a political crisis that shook local markets this week. Fears that new corruption allegations involv
The Canadian dollar added to gains against the US dollar on Friday, while bonds extended losses, on a pair of strong numbers that blew past expectations and for some, built the case that the Bank of Canada will soon pull the trigger on interest rate hikes
The Canadian bond prices sank on Friday on the data, particularly at the rate-sensitive short end of the curve. Analysts said some the details of the jobs data were mixed, however, as most of the gains came from full-time jobs, but the manufacturing secto
The Canadian bond prices sank on Friday on the data, particularly at the rate-sensitive short end of the curve. Analysts said some the details of the jobs data were mixed, however, as most of the gains came from full-time jobs, but the manufacturing secto
Mexican stocks ended near flat on Friday, weighed by a dip in house builder Homex but supported by gains in miner Group Mexico, and the peso gained after the central bank left its monetary policy unchanged. The IPC benchmark stock index slid 0.08 percent
High-grade spreads narrowed and junk bonds gained in the US corporate bond market on Friday on optimism that economic growth and corporate profits will remain solid for the foreseeable future. "The economy is resilient, which sets the stage for a solid tr
High-grade spreads narrowed and junk bonds gained in the US corporate bond market on Friday on optimism that economic growth and corporate profits will remain solid for the foreseeable future. "The economy is resilient, which sets the stage for a solid tr
US Treasury debt prices retreated on Friday as investors concluded that the Federal Reserve would not stop raising interest rates soon. Traders said securities dealers also were cutting prices to help sell recently auctioned five- and 10-year Treasury not
US Treasury debt prices retreated on Friday as investors concluded that the Federal Reserve would not stop raising interest rates soon. Traders said securities dealers also were cutting prices to help sell recently auctioned five- and 10-year Treasury not
Malaysian property developer Putrajaya Holdings Sdn Bhd plans to sell 2 billion to 3 billion ringgit ($526 million to $789 million) of Islamic bonds to refinance debt and to fund new projects, sources close to the deal said. The bonds, the issue of which
Malaysian property developer Putrajaya Holdings Sdn Bhd plans to sell 2 billion to 3 billion ringgit ($526 million to $789 million) of Islamic bonds to refinance debt and to fund new projects, sources close to the deal said. The bonds, the issue of which
Brokers will begin reporting earnings next week, and given potential difficulties for the companies, some analysts think it might make sense to be short the sector. Lehman Brothers, Bear Stearns, and Goldman Sachs will report earnings next week, and while
Brokers will begin reporting earnings next week, and given potential difficulties for the companies, some analysts think it might make sense to be short the sector. Lehman Brothers, Bear Stearns, and Goldman Sachs will report earnings next week, and while
After a relatively quiet showing this year, three medical device companies are slated for US initial public offerings next week. ev3 will present investors with a $200 million offering, while Micrus Endovascular Corp is slated for a $42.25 million IPO and
Chile stocks rose on Friday after the central bank opted not to raise the benchmark interest rate and electric companies were boosted amid rainy weather. The IPSA blue chip index rose 0.60 percent to 2,017.49 points while the broader IGPA index climbed 0.
Argentine stocks ended lower on Friday on investor jitters following the government's introduction of new capital controls, traders said. The MerVal index of the 11 leading stocks lost 1.07 percent to 1,435.30 points, accumulating a loss of 4.7 percent so
Standard & Poor's said on Friday it will add eight stocks and remove six from the Toronto Stock Exchange's key S&P/TSX composite index as part of its quarterly review of index eligibility. S&P, which has manages the Toronto stock index, said the changes w
Toronto stocks recovered from their earlier malaise to end higher on Friday as strength in the resource sector helped the market shake off tech weakness after news that two top Nortel Networks executives had resigned. The Toronto Stock Exchange's S&P/TSX