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Print - 2006-03-04
Rain in US Plains likely too late for some wheat

Rain in US Plains likely too late for some wheat

Forecasts for rain in the US Plains were providing fresh hope for many US winter wheat farmers whose new crop has been hard hit by drought, but some wheat is too damaged to benefit much, wheat experts said on Thursday.
Published 04 Mar, 2006 12:00am
ECC doubts poverty and jobs data

ECC doubts poverty and jobs data

The Economic Co-ordination Committee (ECC) of the Cabinet has expressed doubts about the credibility of Statistics Division data on poverty reduction and unemployment.
Published 04 Mar, 2006 12:00am
Comex copper extends gains

Comex copper extends gains

US copper futures finished on Thursday with strong gains, adding to a day-earlier rally amid continued fund buying as the widespread strike at Mexico's mines and refineries entered its third day, traders said.
Published 04 Mar, 2006 12:00am
ECC doubts poverty and jobs data

ECC doubts poverty and jobs data

The Economic Co-ordination Committee (ECC) of the Cabinet has expressed doubts about the credibility of Statistics Division data on poverty reduction and unemployment.
Published 04 Mar, 2006 12:00am
Silver settles up in New York

Silver settles up in New York

US silver futures vaulted to a 22-year high on Thursday, amid aggressive commodity fund buying that boosted the precious metal over $10 an ounce ahead of a widely expected approval of a silver exchange-traded fund (ETF), sources said.
Published 04 Mar, 2006 12:00am
ECC doubts poverty and jobs data

ECC doubts poverty and jobs data

The Economic Co-ordination Committee (ECC) of the Cabinet has expressed doubts about the credibility of Statistics Division data on poverty reduction and unemployment.
Published 04 Mar, 2006 12:00am
Tocom gold higher on New York rise, silver up limit

Tocom gold higher on New York rise, silver up limit

Tokyo gold futures' key contract climbed as much as 1.7 percent on Friday, tracking the rise in New York, but it later gave up some of its gains as worries about currency market direction weighed on sentiment.
Published 04 Mar, 2006 12:00am
46 countries ban French poultry over bird flu

46 countries ban French poultry over bird flu

The number of non-EU countries that have slapped bans or restrictions on French poultry exports after an outbreak of bird flu had grown to 46 by Friday, the French trade ministry said.
Published 04 Mar, 2006 12:00am
Silver matches 22-year high on ETF hopes

Silver matches 22-year high on ETF hopes

Silver rose on Friday to match a 22-year high struck on Thursday, boosted by hopes that an exchange traded fund will be approved by US regulators and draw fresh investment to the market.
Published 04 Mar, 2006 12:00am
Italian president rejects 100 million euro bird flu fund

Italian president rejects 100 million euro bird flu fund

The Italian government's 100 million euro ($120.2 million) plan to help its poultry sector survive the bird flu crisis was rejected by President Carlo Azeglio Ciampi on Friday due to lack of funds.
Published 04 Mar, 2006 12:00am
CBOT rice ends firm

CBOT rice ends firm

Chicago Board of Trade rough rice futures closed higher on Thursday, recovering from a weak open after the market held a key support level, traders said.
Published 04 Mar, 2006 12:00am
APHC urges Bush to push for demilitarisation

APHC urges Bush to push for demilitarisation

A freedom fighters alliance in revolt-hit Indian occupied Kashmir urged visiting US President George W. Bush on Friday to push nuclear-armed India and Pakistan to demilitarise their zones of scenic Kashmir.
Published 04 Mar, 2006 12:00am
Oil posts gains in Asian trade for fourth day

Oil posts gains in Asian trade for fourth day

Oil prices rose for the fourth day in a row on Friday as dealers narrowed their focus to persistent geopolitical supply concerns, ignoring bloated US stocks.
Published 04 Mar, 2006 12:00am
Opec surplus production two million barrels a day

Opec surplus production two million barrels a day

Opec is producing a surplus of about two million barrels per day, the oil cartel's president Edmond Daukoru said Friday. Daukoru did not say whether the organisation should cut its production by a similar amount as it heads into its meeting next week in V
Published 04 Mar, 2006 12:00am
Indian soya oil extends gains

Indian soya oil extends gains

Indian soya oil consolidated gains on Friday on higher demand and a revision in base import prices of edible oils, while sugar extended a fall with more supplies arriving in the domestic market.
Published 04 Mar, 2006 12:00am
New York sugar firmer as trade stays choppy

New York sugar firmer as trade stays choppy

Raw sugar futures settled near session highs Thursday on trade and speculative buying as traders waited for news to provide the market with direction on its next move, brokers said.
Published 04 Mar, 2006 12:00am
Soya rallies above key averages, meal supports

Soya rallies above key averages, meal supports

The Chicago Board of Trade (CBoT) soyabean market rallied on Thursday, surpassing its 100- and 50-day moving averages, on a technical bounce after its recent fall, traders said.
Published 04 Mar, 2006 12:00am
US cotton weekly export sales highlights

US cotton weekly export sales highlights

USDA cotton export sales highlights for latest reporting week: Net Upland sales of 100,900 RB were 63 percent below the previous week and 75 percent under the prior 4-week average.
Published 04 Mar, 2006 12:00am
US consumer sentiment weaker

US consumer sentiment weaker

US consumer sentiment in February finished weaker than January on worries about the economy, which could crimp future spending, a report showed on Friday.
Published 04 Mar, 2006 12:00am
Body set up to monitor prices on weekly basis

Body set up to monitor prices on weekly basis

The Economic Co-ordination Committee of the Cabinet (ECC), which met under the chairmanship of Prime Minister Shaukat Aziz here on Friday, reviewed prices of essential commodities in the country and expressed satisfaction over their prices and availabilit
Published 04 Mar, 2006 12:00am
Industry global PMI hits 19-month high

Industry global PMI hits 19-month high

Global manufacturing and service sector activity grew at the fastest pace in 19 months in February, enabling companies to crank up staff levels, an indicator based on national PMI surveys showed on Friday.
Published 04 Mar, 2006 12:00am
Body set up to monitor prices on weekly basis

Body set up to monitor prices on weekly basis

The Economic Co-ordination Committee of the Cabinet (ECC), which met under the chairmanship of Prime Minister Shaukat Aziz here on Friday, reviewed prices of essential commodities in the country and expressed satisfaction over their prices and availabilit
Published 04 Mar, 2006 12:00am
EU turns up heat over French energy merger

EU turns up heat over French energy merger

The European Commission gave France a two-week ultimatum on Friday to explain events that may have broken EU law leading up to a state-engineered merger of Gaz de France and Suez to create a "national energy champion".
Published 04 Mar, 2006 12:00am
Body set up to monitor prices on weekly basis

Body set up to monitor prices on weekly basis

The Economic Co-ordination Committee of the Cabinet (ECC), which met under the chairmanship of Prime Minister Shaukat Aziz here on Friday, reviewed prices of essential commodities in the country and expressed satisfaction over their prices and availabilit
Published 04 Mar, 2006 12:00am
Eurozone economy to pick up this year: EU

Eurozone economy to pick up this year: EU

Eurozone economic growth may rebound more strongly than expected this year, the European Commission said on Friday, as data showed a drop in consumer demand and strong imports were behind weak growth at the end of 2005.
Published 04 Mar, 2006 12:00am
India, Sri Lanka could rival Singapore as ship fuel hub

India, Sri Lanka could rival Singapore as ship fuel hub

Ports in southern India and Sri Lanka have the potential to rival Singapore's dominance as Asia's shipping and marine fuels hub, if infrastructure concerns are overcome, a top shipping agent said on Friday.
Published 04 Mar, 2006 12:00am
Intel chips to power Microsoft device

Intel chips to power Microsoft device

Intel Corp will supply chip technology for a new portable media device, under development with Microsoft Corp, which will be unveiled next week, the New York Times reported on Friday.
Published 04 Mar, 2006 12:00am
Europe counts cost of bird flu, fresh cases emerge

Europe counts cost of bird flu, fresh cases emerge

Europe's poultry industry counted the multi-million-dollar cost of the spread of bird flu in lost sales on Friday after US agencies urged more funds to fight a possible deadly human pandemic that could kill millions.
Published 04 Mar, 2006 12:00am
More yuan flexibility needed in China: Snow

More yuan flexibility needed in China: Snow

US Treasury Secretary John Snow said on Friday that Beijing needed to make more progress toward currency flexibility, and China's growing global role brought with it greater responsibility.
Published 04 Mar, 2006 12:00am
Indonesia unveils investment policy package

Indonesia unveils investment policy package

The Indonesian government has announced a package of policies aimed at improving the investment climate, including a revision of the investment law, Economic Affairs Minister Budiono said.
Published 04 Mar, 2006 12:00am
US won't push to privatise Dubai Ports World: USTR

US won't push to privatise Dubai Ports World: USTR

US trade officials have no plans to push for the privatisation of state-owned Dubai Ports World in free trade talks with the United Arab Emirates, the US Trade Representative's office said on Thursday.
Published 04 Mar, 2006 12:00am
Taiwan stocks close lower

Taiwan stocks close lower

The Taiwan stock market fell 1.34 percent on Friday as Wall Street declined overnight on rising oil prices which dragged down shares like heavyweight Taiwan Semiconductor Manufacturing Co.
Published 04 Mar, 2006 12:00am
Singapore shares slightly higher

Singapore shares slightly higher

Singapore share prices defied a generally weaker regional trend and closed 0.53 percent higher on Friday, driven by gains in China-linked stocks, dealers said.
Published 04 Mar, 2006 12:00am
Hong Kong shares fall

Hong Kong shares fall

Hong Kong blue chips edged down on Friday as the Tokyo Nikkei average, which fell 1.55 percent, unsettled investors ahead of a raft of earnings reports due next week.
Published 04 Mar, 2006 12:00am
US Treasuries slide on rate hike concerns

US Treasuries slide on rate hike concerns

US Treasury debt prices fell on Thursday after an interest-rate hike in Europe and a subdued trend in new US jobless claims underscored the outlook for more Federal Reserve rate hikes.
Published 04 Mar, 2006 12:00am
US Treasuries slide on rate hike concerns

US Treasuries slide on rate hike concerns

US Treasury debt prices fell on Thursday after an interest-rate hike in Europe and a subdued trend in new US jobless claims underscored the outlook for more Federal Reserve rate hikes.
Published 04 Mar, 2006 12:00am
Malaysian shares sag

Malaysian shares sag

Malaysian share prices closed 0.31 percent lower on Friday following Wall Street's lacklustre performance overnight and on concerns over inflation after fuel price hikes, dealers said.
Published 04 Mar, 2006 12:00am
Philippines shares drop

Philippines shares drop

Philippines share prices closed 0.34 percent lower on Friday as profit-taking set in after a four-day rally, dealers said. They said the market was due for a correction after four days of gains, as investors had taken account of President Gloria Arroyo's
Published 04 Mar, 2006 12:00am
Thai shares close flat

Thai shares close flat

Thai share prices closed flat on Friday as investors adopted a wait-and-see stance ahead of major mass political rallies to be held during the weekend, dealers said.
Published 04 Mar, 2006 12:00am
Nikkei ends down after CPI, property shares hit

Nikkei ends down after CPI, property shares hit

The Nikkei average fell 1.55 percent on Friday as stronger-than-expected consumer price data raised concerns about a rise in borrowing costs, sending down Mitsubishi Estate Co Ltd and other property shares.
Published 04 Mar, 2006 12:00am
Chinese shares up

Chinese shares up

Chinese shares closed 0.59 percent higher in the last trading session of the week as institutional players rebuilt their positions in top Asian refiner Sinopec Corp.
Published 04 Mar, 2006 12:00am
Jakarta shares led by mining stocks

Jakarta shares led by mining stocks

Indonesian share prices closed 0.93 percent higher on Friday led by mining stocks, with blue chip Astra International extending its gains on hopes of better car sales, dealers said.
Published 04 Mar, 2006 12:00am
Chinese yuan weakens

Chinese yuan weakens

China's yuan weakened slightly on Friday as traders kept their eyes on the dollar following the interest rate hike by the European Central Bank.
Published 04 Mar, 2006 12:00am
Swiss franc firmer after ECB rate hike

Swiss franc firmer after ECB rate hike

The Swiss franc was slightly firmer on Friday against the dollar after the US currency yielded to a broad rally in the euro in the wake of the European central bank's decision to raise interest rates.
Published 04 Mar, 2006 12:00am
Yen flops despite upbeat Japan CPI data

Yen flops despite upbeat Japan CPI data

The yen fell on Friday after Japanese data showing core inflation picking up to the fastest since March 1998 did nothing to shake expectations the yen would stay a low-yielding currency for a while yet.
Published 04 Mar, 2006 12:00am
Dollar sags across board, led by euro surge

Dollar sags across board, led by euro surge

The dollar fell across the board on Thursday, succumbing to a broad rally in the euro after the European Central Bank raised interest rates to a three-year high and ECB chief Jean-Claude Trichet upped his 2007 inflation forecasts.
Published 04 Mar, 2006 12:00am
Asian currencies: Philippine peso at 3-1/2-year peak

Asian currencies: Philippine peso at 3-1/2-year peak

The Philippine peso hit a 3-1/2-year peak on Friday but the Singapore dollar retreated from its strongest level in more than seven years and other Asian currencies pared gains in line with moves in the yen.
Published 04 Mar, 2006 12:00am
Australian dollar retreats from one-month high

Australian dollar retreats from one-month high

News that Australia's monthly trade deficit ballooned to a record high in January shaved as much as half a US cent off the Australian dollar on Friday, sparking a retreat from a short-lived one-month high.
Published 04 Mar, 2006 12:00am
Third MTU workshop ends

Third MTU workshop ends

The Tax Facilitation Division (TFD) of Medium Taxpayer Unit (MTU) Karachi is conducting a series of workshops on e-filing, salary, its taxability and proper filing of mandatory quarterly and annual statements.
Published 04 Mar, 2006 12:00am
'Wizards of Ads' seminar held

'Wizards of Ads' seminar held

Revelation Mindscapes Inc recently held very interesting advertising training seminar on 'Wizards of Ads'. The seminar aimed to bring under one roof advertising industry leaders to pool their intelligence and experience and frame the future with enough cl
Published 04 Mar, 2006 12:00am
Ideas Pakistan likely to have UK-DMA pavilion

Ideas Pakistan likely to have UK-DMA pavilion

International Defence Exhibition and Seminar - Ideas Pakistan is likely to get UK National Pavilion under the patronage of UK Defence Manufacturers Association (DMA) for its next shows scheduled for November 2006.
Published 04 Mar, 2006 12:00am
Kiwis aim for clean sweep

Kiwis aim for clean sweep

New Zealand is aiming to wrap up their one day cricket series 5-0 against the West Indies here on Saturday but already has one eye on the Test series starting next week.
Published 04 Mar, 2006 12:00am
Kiefer pulls out of Las Vegas tournament

Kiefer pulls out of Las Vegas tournament

Second-seeded German Nicolas Kiefer withdrew before his second-round match at the 380,000-dollar ATP tournament here on Thursday with a nagging sinus ailment.
Published 04 Mar, 2006 12:00am
Sri Lanka race to eight-wicket win over Bangladesh

Sri Lanka race to eight-wicket win over Bangladesh

Sri Lanka scored a comfortable eight-wicket victory over Bangladesh on the fourth day of the first Test here on Friday. Sri Lanka, set a target of 163 to win the match, notched up the remaining 138 runs in the first session Friday to go 1-0 up in the two-
Published 04 Mar, 2006 12:00am
Kaif rescues India after Hoggard spells trouble

Kaif rescues India after Hoggard spells trouble

Mohammad Kaif made a career-best 91 to pull India out of the mire on the third day of the opening Test against England on Friday after Matthew Hoggard had skittled out their top-order.
Published 04 Mar, 2006 12:00am
Pope thanks Vatican Radio for Cold War broadcasts

Pope thanks Vatican Radio for Cold War broadcasts

Pope Benedict, speaking a day after an Italian commission blamed the ex-Soviet Union for a plot to kill his predecessor, on Friday thanked Vatican Radio for beaming the truth to communist nations during the Cold War.
Published 04 Mar, 2006 12:00am
New UN fund to speed global disaster response

New UN fund to speed global disaster response

The United Nations next week launches a new global emergency fund to provide swifter relief to victims of natural disasters, but with far less money on hand than the $500 million it had hoped to raise.
Published 04 Mar, 2006 12:00am
Saudi al Qaeda ideologue sets rules for oil war

Saudi al Qaeda ideologue sets rules for oil war

Al Qaeda has advised followers to attack pipelines in Saudi Arabia and Iraq but to steer clear of oil wells because they are the lifeline of Muslim states, according to a two-year-old document recently posted on the Web.
Published 04 Mar, 2006 12:00am
Algeria rebels have 'last chance' to surrender: group

Algeria rebels have 'last chance' to surrender: group

Rebels fighting Algeria's government should take their "last chance" to surrender under an amnesty aimed at healing rifts caused by years of conflict, a state appointed human rights body said on Friday.
Published 04 Mar, 2006 12:00am
China vows to rein in Taiwan independence forces

China vows to rein in Taiwan independence forces

A top Chinese Communist Party leader vowed on Friday that Beijing would block any moves towards Taiwan independence but would work for a peaceful solution to the stand-off.
Published 04 Mar, 2006 12:00am
Policy prohibits Indian uranium sales: Howard

Policy prohibits Indian uranium sales: Howard

Australia welcomed a nuclear deal between India and the United States, but would not sell uranium to India under current policy, Australian Prime Minister John Howard said on Friday.
Published 04 Mar, 2006 12:00am
Philippine lifts state of emergency

Philippine lifts state of emergency

Philippine President Gloria Arroyo on Friday lifted a state of emergency designed to thwart an alleged coup plot but which critics said was threatening freedom of expression and deterring investment.
Published 04 Mar, 2006 12:00am
19 killed in attack

19 killed in attack

Gunmen stormed through a small town near Baghdad, killing at least 19 people, in what police said on Friday was a sectarian attack by Sunni on Shia of the kind that has pushed Iraq towards civil war.
Published 04 Mar, 2006 12:00am
Crisis has passed in Iraq: commander

Crisis has passed in Iraq: commander

The top US commander in Iraq said on Friday the crisis of sectarian violence triggered by last week's bombing of a Shia shrine has passed but added the latest bloodshed would factor into his recommendation this spring on possible troop cuts.
Published 04 Mar, 2006 12:00am
Glitter gets 3 years over molestation

Glitter gets 3 years over molestation

A Vietnamese court jailed British "glam rocker" Gary Glitter to three years in prison on Friday for molesting two young girls. Judge Hoang Thanh Tung described in graphic detail the offences by the 1970s pop icon in the southern resort town of Vung Tau, d
Published 04 Mar, 2006 12:00am
Malaysians stage anti-government protest

Malaysians stage anti-government protest

Nearly 1,000 Malaysians protested in the capital on Friday against fuel price rise, the first significant anti-government demonstration in years.
Published 04 Mar, 2006 12:00am
Suicide bomb wounds Canadian troops in Afghanistan

Suicide bomb wounds Canadian troops in Afghanistan

Five Canadian soldiers were wounded, one seriously, in a suspected suicide car bomb attack on Friday on their armoured vehicle in the southern Afghan province of Kandahar, the Canadian military said.
Published 04 Mar, 2006 12:00am
Yemen frees 600 rebels

Yemen frees 600 rebels

Yemen has freed more than 600 Shia Muslim rebels as part of an amnesty that hopes to put an end to two years of clashes in the poor Arab state, officials said on Friday.
Published 04 Mar, 2006 12:00am
US senate approves anti-terrorism law

US senate approves anti-terrorism law

Capping months of partisan wrangling, the US Senate gave final congressional approval on Thursday to renewing the USA Patriot Act, which expanded the government's power to track down foes in the war on terrorism.
Published 04 Mar, 2006 12:00am
'Godhra train blaze was accident'

'Godhra train blaze was accident'

A judicial panel probing a 2002 train fire blamed for sparking an anti-Muslim massacre in western India said the blaze was an accident, rejecting claims by right wing Hindus that it was deliberately set.
Published 04 Mar, 2006 12:00am
Russia tells Hamas it must recognise Israel

Russia tells Hamas it must recognise Israel

Russian Foreign Minister Sergei Lavrov told Palestinian election winner Hamas on Friday that it must recognise Israel's right to exist, Interfax news agency said.
Published 04 Mar, 2006 12:00am
Iran-EU bid for deal before IAEA meet fails

Iran-EU bid for deal before IAEA meet fails

Iran and top EU powers failed on Friday to resolve a stand-off over its nuclear work before a UN atomic watchdog meeting next week that may lead to Security Council action over fears Tehran secretly seeks nuclear bombs.
Published 04 Mar, 2006 12:00am
$130 million boost for farms, biotech

$130 million boost for farms, biotech

Promising a second "green revolution," US President George W. Bush announced Friday an investment of 130 million dollars to boost Indian agriculture and biotechnology as he wrapped up a visit here.
Published 04 Mar, 2006 12:00am
Bush embraces India as natural partner

Bush embraces India as natural partner

US President George W. Bush declared on Friday that the United States and India were "closer than ever before" and united in the drive against terrorism but said New Delhi needs to lower trade barriers.
Published 04 Mar, 2006 12:00am
Indian rupee higher

Indian rupee higher

The Indian rupee rose against the dollar on Friday, bolstered by expectations of continued firm foreign demand for local shares, but gains were capped by suspected intervention by the central bank.
Published 04 Mar, 2006 12:00am
Sterling recovers

Sterling recovers

Sterling rose a quarter percent against the euro on Friday after stronger than expected data on the UK services sector. The February service sector PMI gave a reading of 58.9, its strongest showing since April 2004 and up from 57.0 in January.
Published 04 Mar, 2006 12:00am
Yen slips from one-month highs

Yen slips from one-month highs

The yen slipped from this week's one-month highs versus the dollar on Friday as investors locked in profits after upbeat price data cemented expectations for a near-term monetary policy shift in Japan.
Published 04 Mar, 2006 12:00am
BT bonds diverge on private equity bid report

BT bonds diverge on private equity bid report

Bonds from BT, Britain's dominant fixed-line telecoms company, diverged on Friday, as a report of take-over interest hammered some issues but boosted others that contain safeguards against a debt-heavy buyout.
Published 04 Mar, 2006 12:00am
BT bonds diverge on private equity bid report

BT bonds diverge on private equity bid report

Bonds from BT, Britain's dominant fixed-line telecoms company, diverged on Friday, as a report of take-over interest hammered some issues but boosted others that contain safeguards against a debt-heavy buyout.
Published 04 Mar, 2006 12:00am
US Stocks: Friday's unofficial close

US Stocks: Friday's unofficial close

US stocks edged lower on Friday as chip maker Intel Corp, a Dow industrials component, cut its revenue outlook and the 10-year Treasury note yield rose to its highest in nearly a year, adding to interest-rate worries.
Published 04 Mar, 2006 12:00am
Indian shares snap record rally

Indian shares snap record rally

Indian shares snapped a four-day record-setting rally on Friday after private sector lenders such as ICICI Bank and HDFC dropped following sharp gains in recent sessions.
Published 04 Mar, 2006 12:00am
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