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Print - 2006-05-02
Move to monopolise Basmati exports to be challenged

Move to monopolise Basmati exports to be challenged

Reacting strongly against growers' association move for acquiring trademark for Basmati rice, traders and exporters of rice called it an attempt to monopolise the Basmati rice trade by a particular segment, depriving the real stakeholders.
Published 02 May, 2006 12:00am
Move to monopolise Basmati exports to be challenged

Move to monopolise Basmati exports to be challenged

Reacting strongly against growers' association move for acquiring trademark for Basmati rice, traders and exporters of rice called it an attempt to monopolise the Basmati rice trade by a particular segment, depriving the real stakeholders.
Published 02 May, 2006 12:00am
Mutton and pulses prices rise

Mutton and pulses prices rise

Following persistent bird flu crisis, the prices of pulses as well as mutton and beef have registered increase, putting more burden on consumers without any check by the authorities concerned.
Published 02 May, 2006 12:00am
Mutton and pulses prices rise

Mutton and pulses prices rise

Following persistent bird flu crisis, the prices of pulses as well as mutton and beef have registered increase, putting more burden on consumers without any check by the authorities concerned.
Published 02 May, 2006 12:00am
Mutton and pulses prices rise

Mutton and pulses prices rise

Following persistent bird flu crisis, the prices of pulses as well as mutton and beef have registered increase, putting more burden on consumers without any check by the authorities concerned.
Published 02 May, 2006 12:00am
Per capita income has doubled in 4 years: Shaukat

Per capita income has doubled in 4 years: Shaukat

Prime Minister Shaukat Aziz said here on Monday that the per capita income in the country had reached up to $800 per annum, which was almost double in just four years. Talking to BBC World, he said that foreign direct investment (FDI) and domestic venture
Published 02 May, 2006 12:00am
Government''s re-lending policy to be revised

Government''s re-lending policy to be revised

The federal government has decided to revise the re-lending policy, after public sector utilities refused to borrow on higher interest than the prevailing market rates.
Published 02 May, 2006 12:00am
Government's re-lending policy to be revised

Government's re-lending policy to be revised

The federal government has decided to revise the re-lending policy, after public sector utilities refused to borrow on higher interest than the prevailing market rates.
Published 02 May, 2006 12:00am
Government's re-lending policy to be revised

Government's re-lending policy to be revised

The federal government has decided to revise the re-lending policy, after public sector utilities refused to borrow on higher interest than the prevailing market rates.
Published 02 May, 2006 12:00am
NWFP chief minister's uncle killed

NWFP chief minister's uncle killed

Amir Muhammad Khan, uncle of NWFP Chief Minister Akram Khan Durrani was killed on Monday, while his two bodyguards were wounded when some unidentified gunmen opened indiscriminate fire on them at Surrani Khel in Bannu district.
Published 02 May, 2006 12:00am
NWFP chief minister's uncle killed

NWFP chief minister's uncle killed

Amir Muhammad Khan, uncle of NWFP Chief Minister Akram Khan Durrani was killed on Monday, while his two bodyguards were wounded when some unidentified gunmen opened indiscriminate fire on them at Surrani Khel in Bannu district.
Published 02 May, 2006 12:00am
Hindu-Muslim clash in Baroda leaves 4 dead

Hindu-Muslim clash in Baroda leaves 4 dead

Four people were killed on Monday when mobs of Hindus and Muslims went on a rampage in this western Indian city after authorities demolished a small shrine, police said.
Published 02 May, 2006 12:00am
Hindu-Muslim clash in Baroda leaves 4 dead

Hindu-Muslim clash in Baroda leaves 4 dead

Four people were killed on Monday when mobs of Hindus and Muslims went on a rampage in this western Indian city after authorities demolished a small shrine, police said.
Published 02 May, 2006 12:00am
35 Hindus killed in occupied Kashmir

35 Hindus killed in occupied Kashmir

Suspected militants shot dead at least 35 Hindus in Indian occupied Kashmir ahead of crucial talks between Prime Minister Manmohan Singh and Kashmiri leaders, officials and police said on Monday.
Published 02 May, 2006 12:00am
35 Hindus killed in occupied Kashmir

35 Hindus killed in occupied Kashmir

Suspected militants shot dead at least 35 Hindus in Indian occupied Kashmir ahead of crucial talks between Prime Minister Manmohan Singh and Kashmiri leaders, officials and police said on Monday.
Published 02 May, 2006 12:00am
Gaza journalists get threats over Hamas coverage

Gaza journalists get threats over Hamas coverage

A handful of Palestinian journalists have reported receiving death threats for their critical coverage of a group Hamas since it began running the government in March, a press group said on Monday.
Published 02 May, 2006 12:00am
UN meeting focuses on long-term energy solutions

UN meeting focuses on long-term energy solutions

Delegates from around the world kicked off a 12-day meeting here Monday to assess long-term energy solutions to spur global economic growth while reducing air pollution and greenhouse gas emissions blamed for climate change.
Published 02 May, 2006 12:00am
Pro-government cleric killed in Waziristan

Pro-government cleric killed in Waziristan

Pro-Taleban militants have shot dead a cleric they suspected of informing for security forces fighting al Qaeda guerrillas and their Taleban allies in the Waziristan, officials said on Monday.
Published 02 May, 2006 12:00am
Pro-government cleric killed in Waziristan

Pro-government cleric killed in Waziristan

Pro-Taleban militants have shot dead a cleric they suspected of informing for security forces fighting al Qaeda guerrillas and their Taleban allies in the Waziristan, officials said on Monday.
Published 02 May, 2006 12:00am
POL prices: minimum burden passed on to consumers, says Waqar

POL prices: minimum burden passed on to consumers, says Waqar

Secretary Petroleum, Ahmad Waqar said on Monday the government continues to take the revenue hit by passing on minimum impact to domestic consumers, despite the record increase in prices of petroleum products in the international market.
Published 02 May, 2006 12:00am
POL prices: minimum burden passed on to consumers, says Waqar

POL prices: minimum burden passed on to consumers, says Waqar

Secretary Petroleum, Ahmad Waqar said on Monday the government continues to take the revenue hit by passing on minimum impact to domestic consumers, despite the record increase in prices of petroleum products in the international market.
Published 02 May, 2006 12:00am
POL prices: minimum burden passed on to consumers, says Waqar

POL prices: minimum burden passed on to consumers, says Waqar

Secretary Petroleum, Ahmad Waqar said on Monday the government continues to take the revenue hit by passing on minimum impact to domestic consumers, despite the record increase in prices of petroleum products in the international market.
Published 02 May, 2006 12:00am
Sugar mills supplies to USC exempted from sales tax

Sugar mills supplies to USC exempted from sales tax

The government has exempted the 10 percent sugar mills'' stocks from sales tax that they will provide to the Utility Store Corporation (USC) for selling at its outlets at subsidised rates.
Published 02 May, 2006 12:00am
Sugar mills supplies to USC exempted from sales tax

Sugar mills supplies to USC exempted from sales tax

The government has exempted the 10 percent sugar mills' stocks from sales tax that they will provide to the Utility Store Corporation (USC) for selling at its outlets at subsidised rates.
Published 02 May, 2006 12:00am
Sugar mills supplies to USC exempted from sales tax

Sugar mills supplies to USC exempted from sales tax

The government has exempted the 10 percent sugar mills' stocks from sales tax that they will provide to the Utility Store Corporation (USC) for selling at its outlets at subsidised rates.
Published 02 May, 2006 12:00am
The Weather

The Weather

The weather report on Monday (May 01, 2006) and the forecast for Tuesday (May 02, 2006).
Published 02 May, 2006 12:00am
New York cotton

New York cotton

Friday's closing prices of New York cotton in US cents/lb.

Published 02 May, 2006 12:00am
New York cotton

New York cotton

Friday's closing prices of New York cotton in US cents/lb.

Published 02 May, 2006 12:00am
World currencies and euro

World currencies and euro

Value of the euro in terms of other world currencies as prevailing in the week ended Monday (May 01, 2006).
Published 02 May, 2006 12:00am
New York cocoa rebounds

New York cocoa rebounds

US cocoa futures rose on Friday as a weaker dollar helped the market recover part of the previous day's losses amid lethargic trade. The New York Board of Trade's active July cocoa contract rose $13, or 0.9 percent, to close at $1,521 a tonne, after tradi
Published 02 May, 2006 12:00am
AWB seeking answer to Indian complaint

AWB seeking answer to Indian complaint

Australia's monopoly wheat exporter AWB Ltd sent a high-level delegation to India on Monday after being told by authorities there that a wheat shipment contained high levels of pesticides. AWB spokesman Peter McBride said the delegation was sent after Ind
Published 02 May, 2006 12:00am
Oil leaps above $72 on Italy refinery fire

Oil leaps above $72 on Italy refinery fire

Oil surged 1 percent to above $72 a barrel on Monday as a refinery fire in Italy added fresh concerns to a market already nervous over Iran's defiant pursuit of its nuclear programme and militant violence in Nigeria.
Published 02 May, 2006 12:00am
Tea gets a makeover, aims for youth market

Tea gets a makeover, aims for youth market

Now that you've had the cappuccino with caramel are you ready for a green tea latte? While tea has tended to be associated with older consumers, the growth of speciality teas and increased health consciousness are encouraging younger people to take a fres
Published 02 May, 2006 12:00am
Panama's specialty coffees impress world judges

Panama's specialty coffees impress world judges

Some tasted bergamot, or felt god, others wanted a cigarette, but the judges gathered in Panama on Saturday were agreed on one thing, the coffee they had swished round their mouths was outstanding.
Published 02 May, 2006 12:00am
New York coffee ends near high

New York coffee ends near high

Benchmark arabica coffee futures surged on Friday just before the close as speculators saw the opportunity to buy ahead of the long holiday weekend in London and Brazil, both of which are closed on Monday to celebrate May Day, dealers said.
Published 02 May, 2006 12:00am
Gasoline rises

Gasoline rises

Oil futures on the Tokyo Commodity Exchange (TOCOM) gained on Monday amid higher international crude prices in relatively heavy trading despite the partial Golden Week holidays.
Published 02 May, 2006 12:00am
MGE wheat settles higher

MGE wheat settles higher

Spring wheat futures at the Minneapolis Grain Exchange closed higher on Friday, tracking a recovery in the Kansas City wheat market, traders said.
Published 02 May, 2006 12:00am
Couch captures Zurich Classic

Couch captures Zurich Classic

Chris Couch chipped in from 26 feet to save par at the last hole and win the PGA Zurich Classic by one stroke here on Sunday.
Published 02 May, 2006 12:00am
Kiwis take heart after losing 2011 World Cup

Kiwis take heart after losing 2011 World Cup

Disappointed New Zealand Cricket (NZC) officials emphasised the positives Monday after losing a joint bid with Australia to host the 2011 World Cup but winning the event for 2015.
Published 02 May, 2006 12:00am
Aussie tips Malinga to trouble England

Aussie tips Malinga to trouble England

Australian left-hander Travis Birt is tipping Sri Lankan paceman Lasith Malinga to give England almost as many problems as spin maestro Muttiah Muralitharan in the upcoming three-Test series.
Published 02 May, 2006 12:00am
Lara demands more West Indies runs

Lara demands more West Indies runs

West Indies captain Brian Lara has demanded his batsmen rediscover their killer instincts in the remaining five one-day internationals against Zimbabwe.
Published 02 May, 2006 12:00am
Improved West Indies see off Zimbabwe

Improved West Indies see off Zimbabwe

West Indies heeded captain Brian Lara's demand for improvement and completed a tidy 98-run victory over Zimbabwe in the second limited-overs international on Sunday at the Antigua Recreation Ground.
Published 02 May, 2006 12:00am
General Motors recalls over 400,000 pickups

General Motors recalls over 400,000 pickups

General Motors Corp is recalling more than 400,000 pickup trucks due to defective brake lights, US safety regulators said on Monday. The automaker is recalling 2004 to 2006 models of the Chevrolet Colorado and GMC Canyon pickups and 2006 models of the Isu
Published 02 May, 2006 12:00am
South Korean exports, consumer prices rise

South Korean exports, consumer prices rise

South Korean exports and consumer prices rose at a slower-than-expected annual pace in April, data showed on Monday, hit by a firm won and reinforcing speculation the central bank will not rush to raise interest rates.
Published 02 May, 2006 12:00am
Dubai plans $27 billion hotel, resort complex

Dubai plans $27 billion hotel, resort complex

Dubai unveiled plans for a $27 billion resort complex including the world's biggest hotel on Monday, the latest in a series of huge projects intended to establish the booming Gulf Emirate as a regional tourism hub.
Published 02 May, 2006 12:00am
Boeing to buy Aviall for $1.7 billion

Boeing to buy Aviall for $1.7 billion

Boeing Co said on Monday it agreed to buy aerospace parts supplier Aviall Inc for $1.7 billion, as the planemaker looks to expand its services operations in the wake of a boom in new plane orders. The deal marks the first major corporate move by Boeing's
Published 02 May, 2006 12:00am
Iranian workers slam job contracts

Iranian workers slam job contracts

Thousands of Iranian workers on Monday lambasted the growing use of short-term employment contracts in the most vociferous May Day demonstration in the Islamic state for years.
Published 02 May, 2006 12:00am
US consumer spending, income top expectations

US consumer spending, income top expectations

US consumer spending and income rose more than expected in March, while an influential measure of inflation - the core price index - topped economists' expectations, the government reported on Monday.
Published 02 May, 2006 12:00am
Saudi industrial giant signs $1 billion Islamic loan with Deutsche Bank

Saudi industrial giant signs $1 billion Islamic loan with Deutsche Bank

Saudi industrial giant SABIC said on Monday it had signed a $1 billion Islamic loan with Deutsche Bank to help fund future projects. "Under this deal, SABIC will be able to outsource banking facilities to finance part of its expansion projects and future
Published 02 May, 2006 12:00am
Motorola raises dividend

Motorola raises dividend

Motorola Inc on Monday said its board had approved a 25 percent increase in its quarterly dividend due to improved cash flow at the company. Motorola's dividend will increase to 5 cents per share from 4 cents, payable July 15, the company said.
Published 02 May, 2006 12:00am
Motorola raises dividend

Motorola raises dividend

Motorola Inc on Monday said its board had approved a 25 percent increase in its quarterly dividend due to improved cash flow at the company. Motorola's dividend will increase to 5 cents per share from 4 cents, payable July 15, the company said.
Published 02 May, 2006 12:00am
Yahoo unveils new tech advice, shopping site

Yahoo unveils new tech advice, shopping site

Yahoo Inc unveiled a shopping site for gadgets laced with plain-English advice by experts and user-contributed reviews, entering a market long dominated by tech-focused media firm CNet Networks Inc.
Published 02 May, 2006 12:00am
EU extends retaliatory tariffs for US imports

EU extends retaliatory tariffs for US imports

The European Union on Monday increased the range of US imports hit by retaliatory tariffs in response to a US trade programme that has been declared illegal by the World Trade Organisation (WTO).
Published 02 May, 2006 12:00am
Australian dollar charges above 76 cents

Australian dollar charges above 76 cents

The Australian dollar topped 76 US cents on Monday, propelled to a seven-month high on the risk of an imminent interest rate rise, negative US dollar sentiment and a fresh quarter-century high for gold prices.
Published 02 May, 2006 12:00am
New Zealand dollar holds near six-week high

New Zealand dollar holds near six-week high

The New Zealand dollar paused near six-week highs against the US dollar in subdued trade on Monday, though analysts said it was primed to rise above the 64 US cent mark within the next 24 hours.
Published 02 May, 2006 12:00am
Dollar hits seven-month low versus yen

Dollar hits seven-month low versus yen

The dollar hit a seven-month low against the yen on Monday, extending a slide as the Federal Reserve appears set to soon end a two-year run of credit tightening that had widened the US currency's yield advantage.
Published 02 May, 2006 12:00am
Bangladesh central bank takes reverse repos at 6.25 percent

Bangladesh central bank takes reverse repos at 6.25 percent

Bangladesh's central bank said on Sunday it had accepted seven-day reverse repos worth 14 billion taka ($201 million) at a 6.25 percent interest rate. The Bangladesh Bank rejected one repo bid worth 3 billion taka on the same day.
Published 02 May, 2006 12:00am
Japanese government bond futures hit one-month high

Japanese government bond futures hit one-month high

Benchmark 10-year Japanese government bond futures prices extended their sharp gains of the previous session to hit a one-month high on Monday, as a rise in US Treasuries last week helped improve sentiment in the bond market.
Published 02 May, 2006 12:00am
Japanese government bond futures hit one-month high

Japanese government bond futures hit one-month high

Benchmark 10-year Japanese government bond futures prices extended their sharp gains of the previous session to hit a one-month high on Monday, as a rise in US Treasuries last week helped improve sentiment in the bond market.
Published 02 May, 2006 12:00am
Australian shares soar

Australian shares soar

Australian shares added 1 percent on Monday as strong bullion prices lifted gold miner Newcrest Mining, while St. George Bank and Westpac Banking climbed on expectations of strong earnings.
Published 02 May, 2006 12:00am
Jakarta shares surge

Jakarta shares surge

Indonesia share prices closed higher on Monday on the back of strong first quarter results reported by index heavyweight Telkom and mild changes in inflation for April announced by the government, dealers said.
Published 02 May, 2006 12:00am
Nikkei inches up, strong yen weighs on Sony

Nikkei inches up, strong yen weighs on Sony

The Nikkei average inched up 0.12 percent on Monday as pharmaceutical and other defensive stocks drew buyers, offsetting a fall in Sony Corp and other exporters on concerns about a strong yen denting their profits.
Published 02 May, 2006 12:00am
20 farm labourers killed in Indian lorry crash

20 farm labourers killed in Indian lorry crash

Twenty farm labourers were killed when the lorry they were travelling in overturned in the southern Indian state of Andhra Pradesh on Monday, police said.
Published 02 May, 2006 12:00am
Israel's new government set to take office

Israel's new government set to take office

Israel's new government will take office on Thursday after Acting Prime Minister Ehud Olmert formed a coalition to carry out his plan to redraw Jewish settlement lines in the occupied West Bank.
Published 02 May, 2006 12:00am
Seven killed in Sri Lanka

Seven killed in Sri Lanka

Seven people were killed in blasts in Sri Lanka's north-east Monday after May Day rallies were cancelled over fear of attacks, officials said.
Published 02 May, 2006 12:00am
Protests across Asia

Protests across Asia

Protesters in more than a dozen cities in Indonesia demonstrated against proposed changes to the labour law that would make it harder to strike, as workers across Asia held May Day demonstrations for better conditions.
Published 02 May, 2006 12:00am
Workers fete May Day in battle for labour rights

Workers fete May Day in battle for labour rights

From rural mountainous Nepal to the industrial heartland of Germany, workers took to the streets around the world on Monday in largely peaceful May Day demonstrations for labour rights.
Published 02 May, 2006 12:00am
US keeps faith with Iraq army, 3 years after war

US keeps faith with Iraq army, 3 years after war

The US military said on Monday it had every confidence in the new Iraqi army it is training, after hundreds of Sunni Arab recruits joined a protest at a graduation parade that bordered on mutiny.
Published 02 May, 2006 12:00am
Iran complains to Annan over threat of US attack

Iran complains to Annan over threat of US attack

Iran complained to UN Secretary General Kofi Annan Monday over what it perceives as the threat of a United States attack, as the regime continued to defy demands to halt its disputed nuclear drive.
Published 02 May, 2006 12:00am
Rebels threaten Darfur peace deal

Rebels threaten Darfur peace deal

Chances of a peace agreement for Sudan's Darfur region looked slim on Monday despite a 48-hour extension to negotiations, observers said, citing rebel inflexibility.
Published 02 May, 2006 12:00am
Girls' school set on fire in Afghanistan

Girls' school set on fire in Afghanistan

Suspected Taleban rebels set a girls' school on fire in eastern Afghanistan in the latest attack on the war-battered country's education institutions, officials said Monday. "Enemies set fire to a girls school last (Sunday) night," provincial director of
Published 02 May, 2006 12:00am
US immigrants mount boycott, rallies

US immigrants mount boycott, rallies

A one-day nation-wide strike and business boycott gathered steam on Monday to demand legal rights for millions of illegal immigrants, with many US businesses shutting down voluntarily to avoid disruption.
Published 02 May, 2006 12:00am
Most markets shut for Labour Day in Asia and Europe

Most markets shut for Labour Day in Asia and Europe

The financial and stock markets both in Asia and Europe were closed on Monday to mark Labour Day. UK markets are also closed for a holiday. Following are markets, which remain closed on Monday. The trading will resume on Tuesday:
Published 02 May, 2006 12:00am
Most markets shut for Labour Day in Asia and Europe

Most markets shut for Labour Day in Asia and Europe

The financial and stock markets both in Asia and Europe were closed on Monday to mark Labour Day. UK markets are also closed for a holiday. Following are markets, which remain closed on Monday. The trading will resume on Tuesday:
Published 02 May, 2006 12:00am
Asian commodity fund lacks talent

Asian commodity fund lacks talent

Asia's fund industry is light on money managers who have experience trading commodities and risks missing out on the billions of dollars flowing into the red-hot asset class.
Published 02 May, 2006 12:00am
Afghanistan to open up copper deposit

Afghanistan to open up copper deposit

Afghanistan will soon open up a potentially world-class copper deposit for foreign investment, Minister of Mines Ibrahim Adel said, adding that the largely unexplored country has huge potential for a range of minerals.
Published 02 May, 2006 12:00am
Tocom gold nears 20-year high

Tocom gold nears 20-year high

Tokyo gold futures surged by their daily limit on Monday, with the benchmark contract nearing the 20-year high set last month, as a weak dollar and tensions over Iran's nuclear programme renewed investor interest in bullion.
Published 02 May, 2006 12:00am
'Cuba raw sugar output at 1.1m tonnes'

'Cuba raw sugar output at 1.1m tonnes'

Cuba's raw sugar output amounted to 1.1 million tonnes as of April 30, Cuban President Fidel Castro said Monday. That would be below last year's harvest of around 1.3 million tonnes which marked the lowest since 1908.
Published 02 May, 2006 12:00am
New York cotton settles largely lower

New York cotton settles largely lower

Cotton futures ended mostly easier Monday due to trade and speculative sales although most analysts feel cotton may grind higher in the days ahead due to steady demand for the fibre, brokers said.
Published 02 May, 2006 12:00am
Australian petrol prices hit record

Australian petrol prices hit record

Australian petrol prices have hit a record high just days before the central bank meets to review interest rates, injecting some uncertainty into a market that has been preparing for the first rate rise in more than a year.
Published 02 May, 2006 12:00am
US MIDDAY: coffee mixed

US MIDDAY: coffee mixed

Arabica coffee futures closed mixed Monday in activity featuring small speculators as holidays in London and Brazil led to quiet trade, with players waiting for leads in the days ahead, dealers said.
Published 02 May, 2006 12:00am
US MIDDAY: cocoa higher

US MIDDAY: cocoa higher

US cocoa futures ended slightly higher Monday as players took profits on a wave of speculative buying spurred by a weak dollar during a session that was a holiday in London, dealers said.
Published 02 May, 2006 12:00am
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