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Print - 2005-08-27
Atari sells Humongous to Infogrames

Atari sells Humongous to Infogrames

Video game publisher Atari Inc said on Friday it signed a deal to sell its Humongous Entertainment studio business for $10.3 million to Atari's controlling parent, France's Infogrames Entertainment.
Published 27 Aug, 2005 12:00am
Sharp yuan rise risky, says Chinese central bank adviser

Sharp yuan rise risky, says Chinese central bank adviser

China is trying to make the yuan more flexible to reflect market supply and demand, but any sharp rise in the currency will be dangerous to the fast-growing economy, an influential Chinese economist said on Friday.
Published 27 Aug, 2005 12:00am
Australia warns of lost decade on trade talks

Australia warns of lost decade on trade talks

Australia urged the United States and Europe on Friday to tackle the issue of farm subsidies now or risk putting off a new global trade pact into the next decade and delaying a fairer deal for developing nations.
Published 27 Aug, 2005 12:00am
Russia bank lent Rosneft $1.8 billion for Yugansk

Russia bank lent Rosneft $1.8 billion for Yugansk

Russia's highly leveraged state oil firm Rosneft, which is negotiating multi-billion-dollar loans with Western banks, borrowed $1.8 billion from Sberbank state savings bank to help it buy Yugansk, a newspaper said on Friday.
Published 27 Aug, 2005 12:00am
Swiss aviation authorities to publish blacklist

Swiss aviation authorities to publish blacklist

The Swiss federal office for civil aviation (BAZL) will publish a blacklist of airlines that will be forbidden from landing at Swiss airports due to safety concerns, the bureau said in a statement on Friday. The blacklist will be published on September 1
Published 27 Aug, 2005 12:00am
Hutchison plans to build car terminal in Thailand

Hutchison plans to build car terminal in Thailand

Hutchison Port Holdings (HPH), the container terminal arm of Hutchison Whompoa Ltd, said on Friday it will invest in a roll-on roll-off (ro-ro) vehicle transport terminal in Laem Chabang port in Thailand. The company did not disclose the investment amount
Published 27 Aug, 2005 12:00am
Cash-rich Hinduja TMT eyes acquisitions

Cash-rich Hinduja TMT eyes acquisitions

Mid-sized Indian software and business service firm Hinduja TMT Ltd plans to spend its cash to grow through acquisition, its chief executive said on Wednesday. K. Thiagarajan, who runs a firm nearly 70 percent controlled by the British Asian Hinduja famil
Published 27 Aug, 2005 12:00am
Atapattu says he respects Bangladesh as opponents

Atapattu says he respects Bangladesh as opponents

Sri Lankan skipper Marvan Atapattu on Friday said Bangladesh were an improving side and deserved respect in the international arena. "Over the years they have shown potential and are improving. We will play our normal game and give our best," Atapattu sai
Published 27 Aug, 2005 12:00am
Davenport and Mauresmo on course for Wimbledon re-match

Davenport and Mauresmo on course for Wimbledon re-match

US veteran Lindsay Davenport and Frances Amelie Mauresmo, the first and second seeds, posted victories here on Thursday to rech the semi-finals of a 600,00-dollar WTA hard-court tournament. The 26-year-old Frenchwoman had an easy day at the office, dispat
Published 27 Aug, 2005 12:00am
PHF names teams for Super Hockey League

PHF names teams for Super Hockey League

Pakistan Hockey Federation (PHF) on Friday named six teams for the inaugural Super Hockey League which commence from September 8. Six Indian players Dilip Tirkey, Sandeep Singh, Viren Resquina, Adrian D'Souza, Arjun Halappa and Gagan Ajit Singh will be fe
Published 27 Aug, 2005 12:00am
Valiant Blake stages stirring comeback

Valiant Blake stages stirring comeback

Unseeded American James Blake clawed his way to a three-set victory over sixth-seeded German Tommy Haas here on Thursday to reach the quarter-finals of a 675,000-dollar ATP Hard-court event.
Published 27 Aug, 2005 12:00am
Sydney to host ICC awards

Sydney to host ICC awards

The second annual International Cricket Council awards will be held in Sydney on October 11, the ICC announced here on Friday. The inaugural event was held last year in London with the cream of world cricketers attending the gala ceremony.
Published 27 Aug, 2005 12:00am
New Zealand win second one-dayer

New Zealand win second one-dayer

New Zealand beat India by 51 runs in the second one-day international at the Queens Sports Club here on Friday. It was the second win for the Kiwis who defeated hosts Zimbabwe by 192 runs in the opening match of the triangular tournament earlier in the we
Published 27 Aug, 2005 12:00am
Tennis takes its toll on top players

Tennis takes its toll on top players

Expect tennis's big guns to be booming when the US Open begins on Monday, despite a rash of injuries that saw many of them sidelined for significant stretches since Wimbledon. Men's world number one Roger Federer has played just once since claiming his Wi
Published 27 Aug, 2005 12:00am
Flintoff bats England into strong position

Flintoff bats England into strong position

Andrew Flintoff's maiden Test hundred against Australia was the centrepiece of an impressive England total in the fourth Test at Trent Bridge here on Friday. At tea, on the second day, England had been bowled out for 477 after Flintoff had made 102.
Published 27 Aug, 2005 12:00am
China-EU textile talks end without agreement

China-EU textile talks end without agreement

A second day of talks between China and the EU ended on Friday with no deal on revising a two-month-old textile trade pact, but negotiators agreed to meet at the weekend in hopes of hammering out an agreement.
Published 27 Aug, 2005 12:00am
Japanese deflation persists

Japanese deflation persists

Japanese consumer prices meandered marginally below year-ago levels in July, as expected, supporting a view in financial markets that the economy will soon emerge from seven years of deflation, though it is not quite there yet.
Published 27 Aug, 2005 12:00am
Fed watching asset-price rises closely: Greenspan

Fed watching asset-price rises closely: Greenspan

Federal Reserve Chairman Alan Greenspan said on Friday the US central bank was paying increasing attention to asset price rises since these were having a growing impact on world economic activity. He warned also that buying power fuelled by higher prices
Published 27 Aug, 2005 12:00am
UAL wins extension of plan exclusivity right

UAL wins extension of plan exclusivity right

A federal bankruptcy judge on Friday gave bankrupt United Airlines another extension of its exclusivity, though November 1, for filing a bankruptcy reorganisation plan without interference from creditors or other parties.
Published 27 Aug, 2005 12:00am
Oil prices hurting economy, says Schroeder

Oil prices hurting economy, says Schroeder

German Chancellor Gerhard Schroeder said record oil prices are hurting the German economy and crimping consumer spending, a magazine reported on Friday. "It's clear that high (gasoline) prices are a burden for consumers and the economy," Schroeder said in
Published 27 Aug, 2005 12:00am
Rural migrants hold key to China labour bottlenecks

Rural migrants hold key to China labour bottlenecks

They are unskilled and unhappy, but China's hordes of rural migrants are a big reason why China is likely to remain the workshop of the world. Last month's 2.1 percent revaluation of the yuan, coming on top of labour bottlenecks in southern China that hav
Published 27 Aug, 2005 12:00am
EU hopes for airline blacklist within 6 months

EU hopes for airline blacklist within 6 months

A list of airlines banned from flying in the EU due to safety concerns could be available to passengers within six months, the European Commission said on Friday, urging a rapid adoption after a spate of crashes. France and Belgium have pre-empted the tou
Published 27 Aug, 2005 12:00am
US consumer optimism weaker in August

US consumer optimism weaker in August

US consumer optimism fell more than expected in August from July due to record gasoline prices at the height of the summer driving season, a report said on Friday. The University of Michigan said its reading on consumer confidence at the end of August was
Published 27 Aug, 2005 12:00am
UniCredito rolls out $24.6 billion bid for German HVB

UniCredito rolls out $24.6 billion bid for German HVB

Europe's biggest cross-border banking takeover kicked off on Friday with the launch of Italian bank UniCredito's 20 billion euro ($24.6 billion) all-share bid for Germany's HVB Group. UniCredito is offering five new shares for every HVB share, and is also
Published 27 Aug, 2005 12:00am
Malaysian halal ruling hits Australian beef

Malaysian halal ruling hits Australian beef

Malaysia has declared some Australian beef no longer fit for Muslims to eat, saying slaughtering methods designed to ease an animal's suffering do not comply with Islamic strictures.
Published 27 Aug, 2005 12:00am
UK growth revised up; consumers weak

UK growth revised up; consumers weak

The British economy grew more quickly in the second quarter of 2005 but the rise in consumer spending slowed to its weakest annual pace in more than 10 years, official data showed on Friday. Second-quarter growth was revised up a tenth of a point to 0.5 p
Published 27 Aug, 2005 12:00am
Polish centre-right rejects quick deal with Eureko

Polish centre-right rejects quick deal with Eureko

The Polish centre-right parties expected to take power next month on Friday rejected calls for a quick compromise over top insurer PZU with Dutch-based minority investor Eureko, despite a court ruling against Poland. An international arbitration court sai
Published 27 Aug, 2005 12:00am
Belgacom first-half mobile phone business beats forecasts

Belgacom first-half mobile phone business beats forecasts

Shares in Belgacom jumped 4 percent on Friday after the Belgian telecom operator reported better-than-expected results in its mobile phone unit, Proximus, which is facing stiff competition. Proximus had warned on sales and profits in May in the face of st
Published 27 Aug, 2005 12:00am
Belgacom first-half mobile phone business beats forecasts

Belgacom first-half mobile phone business beats forecasts

Shares in Belgacom jumped 4 percent on Friday after the Belgian telecom operator reported better-than-expected results in its mobile phone unit, Proximus, which is facing stiff competition. Proximus had warned on sales and profits in May in the face of st
Published 27 Aug, 2005 12:00am
IBM to sell data recovery as it targets small firms

IBM to sell data recovery as it targets small firms

IBM is set announce plans on Friday to sell software that helps small businesses recover from computer crashes, expanding a technology it first developed for large companies. The software, called IBM Tivoli Continuous Data Protection for Files, automatica
Published 27 Aug, 2005 12:00am
Fazio respected law in Italian bank bids

Fazio respected law in Italian bank bids

Bank of Italy Governor Antonio Fazio defended himself on Friday from accusations of bias in a takeover battle for a local bank, saying he had always "scrupulously" followed EU and Italian laws in the affair.
Published 27 Aug, 2005 12:00am
Petrokaz takeover may face Kazakh government opposition

Petrokaz takeover may face Kazakh government opposition

Chinese state oil firm CNPC may face Kazakh government opposition to its planned $4.2 billion takeover of Canada's PetroKazakhstan, possibly over ownership of the Central Asian nation's largest refinery, industry sources said.
Published 27 Aug, 2005 12:00am
WPP ups margin target as first-half sales climb

WPP ups margin target as first-half sales climb

Britain's WPP Plc, the world's second-biggest advertising and marketing company, posted a 6 percent rise in like-for-like first-half revenue and raised its margin target amid strong growth in the sector.
Published 27 Aug, 2005 12:00am
WPP ups margin target as first-half sales climb

WPP ups margin target as first-half sales climb

Britain's WPP Plc, the world's second-biggest advertising and marketing company, posted a 6 percent rise in like-for-like first-half revenue and raised its margin target amid strong growth in the sector.
Published 27 Aug, 2005 12:00am
Bosnian Serb government woos Vitol as refinery partner

Bosnian Serb government woos Vitol as refinery partner

The Bosnian Serb government on Friday invited Swiss-based oil trader Vitol to form a joint venture with its sole oil refinery, which has production problems beacuse of mounting debts. Vitol helped the refinery restart production in 2003 with $2 million of
Published 27 Aug, 2005 12:00am
Russia looks for way to become an oil superpower

Russia looks for way to become an oil superpower

Russia is reaping the economic benefits of sky-high world oil prices, but appears uncertain how to translate its energy riches into lasting international political influence.
Published 27 Aug, 2005 12:00am
New Zealand share prices fall

New Zealand share prices fall

New Zealand share prices fell 0.98 percent Friday with market heavyweight Telecom leading the way lower, dealers said. The benchmark NZSX-50 index closed down 32.57 points at 3,332.97 on turnover worth 131.5 million dollars (91.8 million US). Falls outnum
Published 27 Aug, 2005 12:00am
Telmex to invest in Colombia Telecom

Telmex to invest in Colombia Telecom

Telefonos de Mexico said on Friday it has agreed to take a majority stake in Colombia Telecomunicaciones (Telecom), Colombia's state-owned telephone company, with a $350 million investment in the fixed-line company.
Published 27 Aug, 2005 12:00am
Nigeria ties Korea, Taiwan oil deals on bidding eve

Nigeria ties Korea, Taiwan oil deals on bidding eve

Nigeria has given two Asian companies preferential rights over five oil exploration zones due to be offered in a licensing round on Friday, ruffling the feathers of US rivals, Nigeria's top oil official told Reuters on Thursday.
Published 27 Aug, 2005 12:00am
Australia seeks bankers for Telstra sale

Australia seeks bankers for Telstra sale

Australia's Finance Minister said the government would start seeking tenders this weekend for banks to handle the planned A$30 billion ($23 billion)-plus sale of the country's biggest phone company, Telstra Corp Ltd.
Published 27 Aug, 2005 12:00am
China's BOE Tech slips into the red in second quarter

China's BOE Tech slips into the red in second quarter

BOE Technology posted a second quarter loss on Friday as global prices for its core TV and PC displays fell, and warned it also expected to post a fifth consecutive quarterly loss in the third quarter.
Published 27 Aug, 2005 12:00am
China's BOE Tech slips into the red in second quarter

China's BOE Tech slips into the red in second quarter

BOE Technology posted a second quarter loss on Friday as global prices for its core TV and PC displays fell, and warned it also expected to post a fifth consecutive quarterly loss in the third quarter.
Published 27 Aug, 2005 12:00am
Chemical firm fights flights over Frankfurt plant

Chemical firm fights flights over Frankfurt plant

A chemical company is taking legal action to stop planes taking off from Frankfurt from flying over one of its plants, in a move that could influence airport owner Fraport's plans to expand the hub.
Published 27 Aug, 2005 12:00am
Malaysian shares lower

Malaysian shares lower

Malaysian share prices closed 0.16 percent lower on extended selling on Friday after disappointing second-quarter economic data and concern over high oil prices, dealers said.
Published 27 Aug, 2005 12:00am
Singapore shares flat

Singapore shares flat

Singapore share prices closed 0.1 percent higher Friday on gains in selected blue chips, dealers said. The Straits Times Index added 2.15 points to 2,286.55. Volume traded totalled 880 million shares worth 707 million Singapore dollars (426 million US), d
Published 27 Aug, 2005 12:00am
Treasury yield curve flattens anew, Greenspan looms

Treasury yield curve flattens anew, Greenspan looms

US Treasury debt prices were narrowly mixed on Thursday as investors awaited a speech from Federal Reserve Chairman Alan Greenspan shortly. As he takes the podium, the Fed chief might be wondering about what he called the "conundrum" of persistently low l
Published 27 Aug, 2005 12:00am
Treasury yield curve flattens anew, Greenspan looms

Treasury yield curve flattens anew, Greenspan looms

US Treasury debt prices were narrowly mixed on Thursday as investors awaited a speech from Federal Reserve Chairman Alan Greenspan shortly. As he takes the podium, the Fed chief might be wondering about what he called the "conundrum" of persistently low l
Published 27 Aug, 2005 12:00am
Thai shares finish higher due to late buying

Thai shares finish higher due to late buying

Thai share prices gained 0.54 percent Friday due to late buying in large banking stocks, dealers said. The Stock Exchange of Thailand (SET) composite index rose 3.75 points to 695.89 points and the blue chip SET 50 index gained 3.34 points to 494.74.
Published 27 Aug, 2005 12:00am
Taiwan stocks rebound

Taiwan stocks rebound

Taiwan stocks staged a rebound on Friday from their lowest level since June, with fresh gains on Wall Street encouraging investors to hunt tech bargains like Taiwan Semiconductor Manufacturing Co (TSMC).
Published 27 Aug, 2005 12:00am
Chinese shares dip as state share worries return

Chinese shares dip as state share worries return

China's stocks slipped 0.3 percent on Friday after funds unloaded big caps like Three Gorges Dam joint-operator Yangtze Electric Power Co Ltd, as investors focused again on fears that state share sales would sap cash from the market.
Published 27 Aug, 2005 12:00am
Seoul shares slide on oil worries

Seoul shares slide on oil worries

Seoul shares fell nearly 1 percent on Friday, as heavy foreign selling of financial stocks and concerns about the impact of high oil prices on the economy eclipsed gains among tech issues such as Highness Semiconductor.
Published 27 Aug, 2005 12:00am
Nikkei higher on buying of steel, auto shares

Nikkei higher on buying of steel, auto shares

Tokyo's Nikkei share average rose 0.28 percent on Friday as investors scooped up steel and auto shares on earnings prospects, though some recent winners such as Fast Retailing Co Ltd fell on profit-taking.
Published 27 Aug, 2005 12:00am
Philippines shares close higher

Philippines shares close higher

Philippines share prices closed 0.46 percent higher on Friday with bargain-hunters chasing select stocks, amid an easing in oil prices and modest gains on Wall Street overnight, dealers said. They said the rise was an improvement given the slightest of ga
Published 27 Aug, 2005 12:00am
Hong Kong dollar rises

Hong Kong dollar rises

The Hong Kong dollar rose on Friday afternoon, tracking a rally in the Chinese yuan, on market rumours that Beijing would soon revalue its currency again. But the local currency gave up some gains after a denial from China's central bank that it was poise
Published 27 Aug, 2005 12:00am
Swiss franc steady ahead of data

Swiss franc steady ahead of data

The Swiss franc was steady against the dollar in early European trade on Friday as market players kept the currency in a narrow range ahead of economic data and events coming in September.
Published 27 Aug, 2005 12:00am
Yuan ends near post-revaluation high

Yuan ends near post-revaluation high

China's yuan closed near a post-revaluation high versus the dollar on Friday as the central bank kept out of the market, a day after its vice-governor repeated that the currency's value would be decided by market forces.
Published 27 Aug, 2005 12:00am
Dollar in range as market looks beyond summer

Dollar in range as market looks beyond summer

The dollar was confined to tight ranges on Friday as many market players refrained from making big bets ahead of a series of potentially market-moving events in September.
Published 27 Aug, 2005 12:00am
Dollar stumbles as summer market squares up

Dollar stumbles as summer market squares up

The dollar sagged broadly on Thursday as traders continued to lighten their bets on further strength in the currency, ahead of what is expected to be a risk-prone September.
Published 27 Aug, 2005 12:00am
Asian currencies recoup losses on yuan revaluation talks

Asian currencies recoup losses on yuan revaluation talks

Asian currencies recouped early losses on Friday on renewed speculation China was about to let its currency appreciate for a second time in five weeks just ahead of President Hu Jintao's visit to the United States.
Published 27 Aug, 2005 12:00am
Indian rupee recovers to end firm on yuan talk

Indian rupee recovers to end firm on yuan talk

The rupee recovered to end marginally firm on Friday with traders eyeing the US currency's fall overseas amid speculation that China might again revalue its yuan. The partially convertible rupee closed at 43.6925/6975 per dollar, off an early low of 43.75
Published 27 Aug, 2005 12:00am
Hurricane Katrina kills 4

Hurricane Katrina kills 4

Hurricane Katrina killed four people, cut power to 2.4 million and left Florida's densely populated south-east coast littered on Friday with branches and fallen trees. Katrina had been downgraded to a tropical storm as it churned across the swampy Evergla
Published 27 Aug, 2005 12:00am
Burundi's new president promises peace

Burundi's new president promises peace

Burundi's former Hutu rebel leader Pierre Nkurunziza became president on Friday with a pledge to honour the peace accord that brought him to power and ended a 12-year civil war which killed 300,000 people.
Published 27 Aug, 2005 12:00am
Report faults dozens of CIA officials

Report faults dozens of CIA officials

A long-awaited CIA inspector general's report on the agency's performance before the September 11, 2001, attacks includes detailed criticism of more than a dozen former and current agency officials, the New York Times reported on Friday.
Published 27 Aug, 2005 12:00am
Uzbek lawmakers ratify US military eviction

Uzbek lawmakers ratify US military eviction

The Uzbekistan Senate gave final approval Friday to an order evicting US military forces from the country and many lawmakers demanded financial compensation from Washington for alleged environmental damage caused by the US military presence in the country
Published 27 Aug, 2005 12:00am
Sri Lankan court ruling ends 11-year presidency

Sri Lankan court ruling ends 11-year presidency

Sri Lanka's Supreme Court ruled Friday that President Chandrika Kumaratunga's final term expires in December, ending her controversial 11-year reign and clearing the way for a vote before November 21.
Published 27 Aug, 2005 12:00am
India and Russia plans air-land military exercises

India and Russia plans air-land military exercises

Military allies Russia and India will hold their largest-ever wargames in October with a focus on anti-terrorism combat using airborne commandos and ground forces, India's defence ministry said Thursday. They said the joint military exercises would be hel
Published 27 Aug, 2005 12:00am
US library sues over controversial Patriot Act

US library sues over controversial Patriot Act

A controversial Patriot Act clause allowing the US government to demand information about library patrons' borrowing habits is being challenged in federal court for the first time by a library. The lawsuit was filed against US Attorney General Alberto Gon
Published 27 Aug, 2005 12:00am
Iran to present new nuclear plan in a month

Iran to present new nuclear plan in a month

Iran said on Friday it hoped to present within a month a plan to head off EU preparations to refer it to the UN Security Council for possible sanctions, but diplomats interpreted the move as stalling.
Published 27 Aug, 2005 12:00am
Chirac increases pressure on Turkey

Chirac increases pressure on Turkey

French President Jacques Chirac criticised Turkey on Friday for saying its signing of a key European Union protocol did not change its stance on Cyprus, increasing pressure on Ankara over its EU membership bid.
Published 27 Aug, 2005 12:00am
'Al Qaeda planning attack on Asian financial hub'

'Al Qaeda planning attack on Asian financial hub'

Al Qaeda is preparing an attack on a big financial centre in Asia, such as Tokyo, Singapore or Sydney, to undermine investor confidence in the region, France's top terrorist investigator says. In an interview with the Financial Times newspaper Friday, Jea
Published 27 Aug, 2005 12:00am
Israel boosts West Bank settlers: official

Israel boosts West Bank settlers: official

The population of Jewish settlements in the West Bank has grown this year by more than the 9,000 settlers evacuated under a plan to cede some occupied land, an Israeli government official said on Friday.
Published 27 Aug, 2005 12:00am
US proposals not acceptable: Sweden

US proposals not acceptable: Sweden

Sweden, which is to chair a United Nations summit on sweeping reform of the world body in September, on Friday called a US proposal to scrap ambitious goals to reduce world poverty "not acceptable".
Published 27 Aug, 2005 12:00am
Blast hits oil well in Iraq's Kirkuk field

Blast hits oil well in Iraq's Kirkuk field

Insurgents sabotaged an exporting oil well in Iraq on Friday, stepping up pressure on the US-backed government struggling to steer Iraq through a political crisis over a draft constitution.
Published 27 Aug, 2005 12:00am
Iraqis denounce British plans to send them home

Iraqis denounce British plans to send them home

Failed Iraqi asylum seekers accused the British government of recklessness on Friday for threatening to send them back to their homeland despite its admission that the country is dangerous.
Published 27 Aug, 2005 12:00am
European corporate bonds steady

European corporate bonds steady

European corporate bonds held steady on Friday amid subdued trading as the holiday period drew to a close and investors looked to prospects for the coming weeks. Speculation over new supply in September focused on so-called hybrid deals, the fashionable n
Published 27 Aug, 2005 12:00am
European corporate bonds steady

European corporate bonds steady

European corporate bonds held steady on Friday amid subdued trading as the holiday period drew to a close and investors looked to prospects for the coming weeks. Speculation over new supply in September focused on so-called hybrid deals, the fashionable n
Published 27 Aug, 2005 12:00am
Indian shares tip-toe up

Indian shares tip-toe up

Indian shares inched up on Friday but investors remained concerned about rich valuations and high oil prices. India's 30-issue BSE Sensex closed 0.26 percent higher at 7,680.22, coming off its day high of 7,732.31 points.
Published 27 Aug, 2005 12:00am
US Stocks: Friday's unofficial close

US Stocks: Friday's unofficial close

US stocks slumped on Friday after remarks by Federal Reserve Chairman Alan Greenspan pushed housing shares lower and a report showing a surprising drop in US consumer sentiment pushed down retailers. His remarks knocked the Dow Jones US home-builders inde
Published 27 Aug, 2005 12:00am
Britain's top share index ends week on sour note

Britain's top share index ends week on sour note

Britain's top share index ended the week on a sour note, with concerns over US consumer spending adding to worries over sky-high oil prices, with services firm Rentokil the top faller after it said a potential suitor was not ready to make a proper bid.
Published 27 Aug, 2005 12:00am
Sterling floats in ranges

Sterling floats in ranges

Sterling held within recent trading ranges on Friday in line with a quiet mood on global currency markets, briefly hitting a one-week low versus the euro. Data showed the British economy grew more quickly in the second quarter of 2005 than originally esti
Published 27 Aug, 2005 12:00am
Dollar rattled as China denies yuan speculation

Dollar rattled as China denies yuan speculation

The dollar was flustered on Friday by market speculation that China might again revalue its yuan currency, but retraced losses after a swift denial from the Chinese central bank.
Published 27 Aug, 2005 12:00am
German sugar crop to fall

German sugar crop to fall

Germany's sugar beet harvest will be down this year after plantings were cut but overall the crop is developing well in favourable weather, the head of Germany's sugar industry association WVZ said on Wednesday.
Published 27 Aug, 2005 12:00am
China's largest soya crusher expands to survive

China's largest soya crusher expands to survive

China's major state-owned soya crusher Jiusan said on Friday it had launched another plant in the northern port city of Tianjin to prevent the entire industry from being taken over by foreign companies.
Published 27 Aug, 2005 12:00am
Oil slides over $1 as hurricane fears ease

Oil slides over $1 as hurricane fears ease

Oil prices slumped more than $1 on Friday as dealers bet that Hurricane Katrina would miss the heart of oil and gas production in the Gulf of Mexico, home to a quarter of US domestic output.
Published 27 Aug, 2005 12:00am
Oil slides over $1 as hurricane fears ease

Oil slides over $1 as hurricane fears ease

Oil prices slumped more than $1 on Friday as dealers bet that Hurricane Katrina would miss the heart of oil and gas production in the Gulf of Mexico, home to a quarter of US domestic output.
Published 27 Aug, 2005 12:00am
Oil slides over $1 as hurricane fears ease

Oil slides over $1 as hurricane fears ease

Oil prices slumped more than $1 on Friday as dealers bet that Hurricane Katrina would miss the heart of oil and gas production in the Gulf of Mexico, home to a quarter of US domestic output.
Published 27 Aug, 2005 12:00am
Soyarust found in new counties

Soyarust found in new counties

Soybean rust was discovered in new counties in Georgia and Florida, two states already heavily infected by the disease, the US Agriculture Department said on its rust-monitoring web site.
Published 27 Aug, 2005 12:00am
New York cotton near highs

New York cotton near highs

Cotton futures settled near session highs Friday on mixed trade and speculative buying as the uncertain storm track of hurricane Katrina kept the sellers at bay, brokers said. The New York Board of Trade's December cotton contract gained 0.35 cent to fini
Published 27 Aug, 2005 12:00am
London coffee at six-month low

London coffee at six-month low

London's robusta coffee futures fell more than five percent on Friday to the lowest level in six months on speculative and fund selling, traders said. "Every time London hits new lows there's forced liquidation," a dealer said.
Published 27 Aug, 2005 12:00am
Copper ends higher

Copper ends higher

London Metal Exchange (LME) three months copper prices ended a little stronger on short covering on Friday, although sentiment remained edgy after last week's sell-off, dealers said. The three-months price closed at $3,600 a tonne from $3,577 at Wednesday
Published 27 Aug, 2005 12:00am
Gold steadies in Europe, silver testing support

Gold steadies in Europe, silver testing support

Gold bullion was steady from overnight levels during low-key European trading on Friday, with the market seen staying trapped within its week-long $435.00/440.00 an ounce band, traders said.
Published 27 Aug, 2005 12:00am
US MIDDAY: coffee down by speculators exiting

US MIDDAY: coffee down by speculators exiting

US coffee futures ended down after setting a fresh nine-month low Friday, pressured by speculators exiting their long positions for the third straight session amid limited roaster buying, traders said.
Published 27 Aug, 2005 12:00am
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