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Print - 2006-12-06
Deal finalised for sale of Picic, subsidiaries

Deal finalised for sale of Picic, subsidiaries

A deal has been finalised for the sale of Pakistan Industrial Credit Investment Corporation (Picic), the largest Development Financial Institution (DFI) and its subsidiaries, well informed sources told Business Recorder here on Tuesday.
Published 06 Dec, 2006 12:00am
Deal finalised for sale of Picic, subsidiaries

Deal finalised for sale of Picic, subsidiaries

A deal has been finalised for the sale of Pakistan Industrial Credit Investment Corporation (Picic), the largest Development Financial Institution (DFI) and its subsidiaries, well informed sources told Business Recorder here on Tuesday.
Published 06 Dec, 2006 12:00am
Currency notes: exchange rates

Currency notes: exchange rates

Exchange rates for Currency Notes issued by the Treasury Management Division of National Bank of Pakistan (NBP) here on Tuesday (December 05, 2006).

Published 06 Dec, 2006 12:00am
Deal finalised for sale of Picic, subsidiaries

Deal finalised for sale of Picic, subsidiaries

A deal has been finalised for the sale of Pakistan Industrial Credit Investment Corporation (Picic), the largest Development Financial Institution (DFI) and its subsidiaries, well informed sources told Business Recorder here on Tuesday.
Published 06 Dec, 2006 12:00am
Conversion for foreign currency deposits

Conversion for foreign currency deposits

Conversion for foreign currency deposits, DBC/FCBC, special USD bond & profits thereon (excluding FE-25 deposits) on Tuesday (December 05, 2006).

Published 06 Dec, 2006 12:00am
''Private equity rules'' draft sent to Finance for vetting

''Private equity rules'' draft sent to Finance for vetting

The Securities and Exchange Commission of Pakistan on Tuesday sent the draft of the proposed ''Private Equity and Venture Capital Fund Rules'' to its parent ministry--Ministry of Finance--for review and vetting.
Published 06 Dec, 2006 12:00am
Exchange rates: buying and selling

Exchange rates: buying and selling

Exchange rates issued by the Treasury Management Division of National Bank of Pakistan on Tuesday (December 05, 2006).

Published 06 Dec, 2006 12:00am
'Private equity rules' draft sent to Finance for vetting

'Private equity rules' draft sent to Finance for vetting

The Securities and Exchange Commission of Pakistan on Tuesday sent the draft of the proposed 'Private Equity and Venture Capital Fund Rules' to its parent ministry--Ministry of Finance--for review and vetting.
Published 06 Dec, 2006 12:00am
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

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
Published 06 Dec, 2006 12:00am
'Private equity rules' draft sent to Finance for vetting

'Private equity rules' draft sent to Finance for vetting

The Securities and Exchange Commission of Pakistan on Tuesday sent the draft of the proposed 'Private Equity and Venture Capital Fund Rules' to its parent ministry--Ministry of Finance--for review and vetting.
Published 06 Dec, 2006 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

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
Published 06 Dec, 2006 12:00am
AEDB to electrify 400 villages with renewable energy

AEDB to electrify 400 villages with renewable energy

Alternate Energy Development Board (AEDB) will provide electricity to about 400 villages through renewable energy costing Rs 14 million. The villages, which were 20 kilometres off from the national grid, would be provided electricity through solar cells.
Published 06 Dec, 2006 12:00am
AEDB to electrify 400 villages with renewable energy

AEDB to electrify 400 villages with renewable energy

Alternate Energy Development Board (AEDB) will provide electricity to about 400 villages through renewable energy costing Rs 14 million. The villages, which were 20 kilometres off from the national grid, would be provided electricity through solar cells.
Published 06 Dec, 2006 12:00am
AEDB to electrify 400 villages with renewable energy

AEDB to electrify 400 villages with renewable energy

Alternate Energy Development Board (AEDB) will provide electricity to about 400 villages through renewable energy costing Rs 14 million. The villages, which were 20 kilometres off from the national grid, would be provided electricity through solar cells.
Published 06 Dec, 2006 12:00am
Cyprus close to balancing books in 2010: official

Cyprus close to balancing books in 2010: official

Eurozone hopeful Cyprus expects to achieve a close to balance budget by 2010 by holding down costs and monitoring spending more closely, the Finance Ministry said on Tuesday.
Published 06 Dec, 2006 12:00am
Musharraf asks women to vote against opponents of WPB

Musharraf asks women to vote against opponents of WPB

President Pervez Musharraf has asked the women of the country to vote in the forthcoming general elections against those who opposed the Women Protection Bill (WPB). "You are 8 crore. Get together and reject the elements who want to keep you underprivileg
Published 06 Dec, 2006 12:00am
Hungary's parliament approves key 2007 budget figures

Hungary's parliament approves key 2007 budget figures

Hungary's parliament on Tuesday approved the key figures of next year's budget which sees cutting the deficit to 6.8 percent of GDP and which will be the litmus test of the government's fiscal adjustment programme.
Published 06 Dec, 2006 12:00am
Musharraf asks women to vote against opponents of WPB

Musharraf asks women to vote against opponents of WPB

President Pervez Musharraf has asked the women of the country to vote in the forthcoming general elections against those who opposed the Women Protection Bill (WPB). "You are 8 crore. Get together and reject the elements who want to keep you underprivileg
Published 06 Dec, 2006 12:00am
European regulators give approval to Euronext/NYSE merger

European regulators give approval to Euronext/NYSE merger

European regulators said in an expected move on Tuesday they have no objections to the proposed $13.8 billion merger between Euronext and NYSE, removing a hurdle for the first transatlantic stock exchange.
Published 06 Dec, 2006 12:00am
Pakistan cricket team visits FGSH

Pakistan cricket team visits FGSH

Pakistan cricket team led by Chairman Dr Nasim Ashraf on Tuesday visited Federal Government Services Hospital (FGSH) and distributed cheques and gifts among the patients, especially children.
Published 06 Dec, 2006 12:00am
Grain exports from port of Rouen in November

Grain exports from port of Rouen in November

Grain exports from the French port of Rouen totalled 505,216 tonnes for the whole of November, comprised of 450,024 tonnes of wheat and 55,192 tonnes of barley, port officials said on Tuesday.
Published 06 Dec, 2006 12:00am
Singapore bunker fuel prices down

Singapore bunker fuel prices down

Singapore bunker prices fell on Tuesday, and its differential to fuel oil cargo values softened to a discount of $3-$4 a tonne, traders said on Tuesday.
Published 06 Dec, 2006 12:00am
Musharraf pushes shared Kashmir sovereignty plan

Musharraf pushes shared Kashmir sovereignty plan

Pakistan would give up its claim to Kashmir if India agreed to give the disputed Himalayan territory autonomy under the joint supervision of both countries, President Pervez Musharraf has said.
Published 06 Dec, 2006 12:00am
Golden Ocean orders four dry-bulk ships

Golden Ocean orders four dry-bulk ships

Norwegian shipping group Golden Ocean Group Limited said on Tuesday it would buy four dry-bulk ships from Daehan Shipbuilding Co in South Korea for $72.25 million per vessel. The ships of 170,000 dwt will be delivered between May 2008 and January 2009, Go
Published 06 Dec, 2006 12:00am
Invest Hong Kong director general offers service

Invest Hong Kong director general offers service

Simon Galpin, Associate Director General, Invest Hong Kong has offered his assistance by way of providing information on service providers, and on the general business environment of Hong Kong and expatriate familiarisation information.
Published 06 Dec, 2006 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 63,387 tonnes cargo including 52,695 tonnes import, 10,697 tonnes export cargo and 2,174 containers during last 48 hours ending at 0700 hours on Tuesday. The cargo comprised of 35,578 tonnes dry cargo including 32,405 tonnes gener
Published 06 Dec, 2006 12:00am
Ukraine wheat and barley exports fall in November

Ukraine wheat and barley exports fall in November

Ukraine's grain exports fell sharply in November 2006 due to export restrictions introduced by the government to avoid a domestic grain shortage and keep bread prices stable, analysts said on Tuesday.
Published 06 Dec, 2006 12:00am
China 2006 gold consumption seen rising

China 2006 gold consumption seen rising

China, the world's third-largest gold consumer, expects its consumption of the precious metal to reach about 350 tonnes and gold output to top 240 tonnes this year, state media reported on Tuesday.
Published 06 Dec, 2006 12:00am
Morocco to privatise shipping firm

Morocco to privatise shipping firm

Morocco plans to sell its majority stake in leading shipping company Comanav by the first quarter of next year, Comanav's chief executive said, as part of wider reforms of the state-run maritime sector.
Published 06 Dec, 2006 12:00am
South Korea seeks to buy US rice

South Korea seeks to buy US rice

South Korea has issued tenders to buy a total 44,069 tonnes of US rice, an official at the state-run Korea Agro-Fisheries Trade Corp said on Tuesday. The tenders are to help South Korea meet part of its import quota under a World Trade Organisation agreem
Published 06 Dec, 2006 12:00am
FOB Gulf corn and soya offers mostly steady

FOB Gulf corn and soya offers mostly steady

US FOB corn and soyabean basis offers were mostly steady on Monday, with traders expecting export demand to pick up after a slump in CBOT futures. Hard and soft red winter wheat were steady, supported by slow movement but demand remained sluggish.
Published 06 Dec, 2006 12:00am
Oil World sees decline in world coconut oil trade

Oil World sees decline in world coconut oil trade

World coconut oil trade is likely to fall by 4 percent in 2006/07 because of an expected drop in exports from major producer Philippines due to domestic biodiesel consumption, oilseeds analysts Oil World said.
Published 06 Dec, 2006 12:00am
Ukraine to raise sunoil, rapeseed exports

Ukraine to raise sunoil, rapeseed exports

Ukraine is likely to raise sunflower oil and rapeseed exports sharply in 2006/07 on a higher oilseed crop and strong foreign demand from biofuel producers, a leading analyst group said on Tuesday.
Published 06 Dec, 2006 12:00am
EU rapeseed area rises on biodiesel boom

EU rapeseed area rises on biodiesel boom

The European Union's winter rapeseed plantings are likely to rise by nearly 7 percent this year to 5.6 million hectares due to strong biodiesel demand, Hamburg-based oilseeds analysts Oil World said on Tuesday.
Published 06 Dec, 2006 12:00am
US Midwest corn and soyabean steady to firmer

US Midwest corn and soyabean steady to firmer

Spot basis bids for corn and soyabeans were mostly steady to firm around the US Midwest on Monday, but country movement was light as a sharp decline in the futures market discouraged much selling, dealers said.
Published 06 Dec, 2006 12:00am
CBOT wheat futures lower

CBOT wheat futures lower

Wheat futures on the Chicago Board of Trade closed lower on Monday, influenced by a sell-off in corn futures and a lack of supportive news, traders said. "It's technical weakness coming into the market, the lack of any new fundamental influences from the
Published 06 Dec, 2006 12:00am
Oil cake market rates

Oil cake market rates

Modest business was seen on the forward cottonseed oilcake market on Tuesday as buyers entered the market to meet the urgent needs, dealers said.
Published 06 Dec, 2006 12:00am
Mills buy quality cotton at higher rates

Mills buy quality cotton at higher rates

After the heavy rains, most of the ginning factories in the country resumed operation, dealers said at the local cotton exchange on Tuesday.
Published 06 Dec, 2006 12:00am
Prices almost stay put on grain market

Prices almost stay put on grain market

A few deals were seen on the grain market on Tuesday as most of the dealers kept on the sidelines to see prices come down to their psychological levels, dealers said. On the seed side, cottonseed oilcake with bag shed Rs 10 to Rs 670-680 in process of tra
Published 06 Dec, 2006 12:00am
Chemicals mixed on Jodia Bazar

Chemicals mixed on Jodia Bazar

The trading on chemicals showed mixed trend on Jodia Bazar here on Tuesday. The following variations were noted.
Published 06 Dec, 2006 12:00am
Asian naphtha down but crack staying firm

Asian naphtha down but crack staying firm

Asian naphtha fell on Tuesday, although its spread against Brent crude held firm at a five-month high of nearly $110 a tonne for late January in the wake of tight supply amid healthy demand, traders said.
Published 06 Dec, 2006 12:00am
New York cocoa ends lower

New York cocoa ends lower

US cocoa futures contracts ended lower on Monday and the market sought direction after sterling eased against the dollar following its rise to 14-year highs last week, floor traders said.
Published 06 Dec, 2006 12:00am
Crude and gasoline fall, kerosene mixed

Crude and gasoline fall, kerosene mixed

Crude and gasoline futures on the Tokyo Commodity Exchange (TOCOM) fell on Tuesday in line with United States futures but the benchmark kerosene contract edged up, helped by continued buybacks, a dealer said.
Published 06 Dec, 2006 12:00am
MGE wheat settles lower

MGE wheat settles lower

Spring wheat futures on the Minneapolis Grain Exchange closed lower on Monday in thin trade, following a 3 percent decline in Chicago Board of Trade corn futures, traders said.
Published 06 Dec, 2006 12:00am
New York coffee futures easier on sell-stops

New York coffee futures easier on sell-stops

US arabica coffee futures settled lower on Monday, with local long-liquidation triggering sell-stops, causing the market to correct after making fresh highs last week, traders said.
Published 06 Dec, 2006 12:00am
Comex copper posts gains

Comex copper posts gains

Copper futures in New York managed to eke out modest gains on Monday amid a general lack of participation partly due to the debut of a new electronic trading platform for Nymex metal futures contracts, floor dealers said.
Published 06 Dec, 2006 12:00am
US gold higher in choppy trade

US gold higher in choppy trade

Gold futures ended a touch higher in choppy trade on Monday, erasing losses on improved investment interest as traders deciphered the debut of Comex metals contracts on the Globex electronic platform.
Published 06 Dec, 2006 12:00am
Tokyo gold and silver edge lower

Tokyo gold and silver edge lower

Tokyo gold and silver futures inched down in slow trade on Tuesday as firmness in the yen curbed the appetites of local individual investors. Gold prices fell from their highest level in almost four months marked late last week, and silver prices came off
Published 06 Dec, 2006 12:00am
Gold firmer, silver hits six-month high

Gold firmer, silver hits six-month high

Gold rose in thin trade on Tuesday as the dollar hovered near a 20-month low against the euro, but the metal was still struggling to break stiff resistance at $650 an ounce. Silver rose to its highest price in more than six months at $14.09 an ounce on in
Published 06 Dec, 2006 12:00am
Australia slightly boosts 2006-07 wheat forecast

Australia slightly boosts 2006-07 wheat forecast

Australia slightly raised its official forecast for the 2006/07 wheat crop on Tuesday to 9.7 million tonnes, but the estimate is still down 61 percent on a year ago as one of the worst droughts on record ravages crops.
Published 06 Dec, 2006 12:00am
Oil recovers slightly on mild weather

Oil recovers slightly on mild weather

Oil prices rose slightly on Tuesday as the threat of a further output cut by Opec producers who meet next week was offset by milder weather forecasts and expected strong fuel stockpiles in the United States. US crude was trading 20 cents higher at $62.64
Published 06 Dec, 2006 12:00am
Shanghai copper dips

Shanghai copper dips

Shanghai copper prices fell over 2 percent in restrained trade on Tuesday and turnover was also thin for most London Metal Exchange contracts as business slowed ahead of the year-end holidays.
Published 06 Dec, 2006 12:00am
Indian sugar, wheat futures rise, soyoil falls

Indian sugar, wheat futures rise, soyoil falls

Indian sugar futures rose for a second straight day on Tuesday on renewed expectations that an export ban would soon be lifted, while soyoil futures fell on weaker international markets. Wheat futures gained on bargain buying after a week-long fall in pri
Published 06 Dec, 2006 12:00am
New York sugar ends at 1-1/2-week low

New York sugar ends at 1-1/2-week low

Raw sugar futures closed on Monday at a 1-1/2 week low as speculative sales depressed the market although operators said trade and consumer buying could spark a rebound later in the week.
Published 06 Dec, 2006 12:00am
Soya slips to two-week low

Soya slips to two-week low

Soyabean futures at the Chicago Board of Trade fell to a two-week low on Monday, pressured by the weakness in corn and soyabean oil markets and prospects for a bigger Brazilian soya crop, traders said.
Published 06 Dec, 2006 12:00am
Malaysian tin falls

Malaysian tin falls

Malaysian tin ended down $115 on Tuesday, weighed down by a technical correction and large offerings at the one dealer said.
Published 06 Dec, 2006 12:00am
Tajik cotton fall

Tajik cotton fall

Tajikistan harvested 440,245 tonnes of raw cotton in 2006, nearly 2 percent less than the previous year, an agriculture official said on Tuesday.
Published 06 Dec, 2006 12:00am
CBOT rice futures slip

CBOT rice futures slip

Rough rice futures at the Chicago Board of Trade closed weaker on Monday on a slight profit-taking setback from Friday's rally, with the January contract holding above $10, traders said.
Published 06 Dec, 2006 12:00am
Tokyo rubber falls

Tokyo rubber falls

Tokyo rubber futures reversed their late recovery in the previous session to fall about 1 percent on Tuesday as the market refocused on bearish incentives such as rising Japanese inventories and firmness in the yen.
Published 06 Dec, 2006 12:00am
Malaysian palm oil lower

Malaysian palm oil lower

Malaysian crude palm oil futures closed 1.2 percent lower on Tuesday, dragged down by a decline in prices of rival soyoil and a firm ringgit currency. The benchmark February contract on the Bursa Malaysia Derivative exchange finished down 23 ringgit, or 1
Published 06 Dec, 2006 12:00am
Egyptian treasury has 'too much money'

Egyptian treasury has 'too much money'

Egyptian Finance Minister Youssef Boutros-Ghali said on Tuesday that unexpectedly high revenue had flooded the Egyptian treasury, prompting it to cancel some of the regular auctions of treasury bills.
Published 06 Dec, 2006 12:00am
Egyptian treasury has 'too much money'

Egyptian treasury has 'too much money'

Egyptian Finance Minister Youssef Boutros-Ghali said on Tuesday that unexpectedly high revenue had flooded the Egyptian treasury, prompting it to cancel some of the regular auctions of treasury bills.
Published 06 Dec, 2006 12:00am
IMF to trim 2007 GDP forecast

IMF to trim 2007 GDP forecast

The IMF will trim its global growth forecast for 2007 but the outlook remains healthy for a year of "profound change" where Europe and Asia do more for growth as the US economy weakens, a top IMF official said on Tuesday.
Published 06 Dec, 2006 12:00am
Cheaper dollar helps imbalances: IMF economist

Cheaper dollar helps imbalances: IMF economist

The dollar's shrinking value could correct some imbalances arising from huge US trade deficits and the decline may have further to go, the International Monetary Fund's chief economist said on Tuesday.
Published 06 Dec, 2006 12:00am
US labour cost growth lower than expected

US labour cost growth lower than expected

US worker productivity rose by a weaker-than-expected 0.2 percent in the third quarter, but unit labour costs grew less than initially thought in a sign of moderating inflation pressure, government data showed on Tuesday.
Published 06 Dec, 2006 12:00am
Saudi Arabia may meet output capacity plan sooner: EIA

Saudi Arabia may meet output capacity plan sooner: EIA

Saudi Arabia is on track to meet its goal of expanding oil production capacity to 12.5 million barrels per day by the end of 2009, the head of the US Energy Information Administration said Tuesday.
Published 06 Dec, 2006 12:00am
US raises 2010 oil price forecast

US raises 2010 oil price forecast

The US government's top energy forecaster on Tuesday said it raised its estimate for world crude prices in 2010 by more than $10 a barrel, roughly 20 percent, to $57.47 a barrel.
Published 06 Dec, 2006 12:00am
EU newcomers urged to step up euro preparations

EU newcomers urged to step up euro preparations

EU newcomers should step up efforts to join the eurozone as their progress on cutting inflation and high budget deficits is patchy, the European Commission and the European Central Bank (ECB) said.
Published 06 Dec, 2006 12:00am
Russia's economy, stocks and currency on a roll

Russia's economy, stocks and currency on a roll

Russia's government raised its forecast for economic growth, shares hit a record and the rouble pushed to new seven-year highs against the dollar on Tuesday as a now traditional year-end stock market rally gathered pace.
Published 06 Dec, 2006 12:00am
EU to push labour issues in Asia trade talks

EU to push labour issues in Asia trade talks

The European Union will push to include labour standards in new bilateral trade deals including those it plans to hammer out with Asian countries next year, EU trade chief Peter Mandelson said on Tuesday.
Published 06 Dec, 2006 12:00am
World's richest two percent own half global wealth: UN

World's richest two percent own half global wealth: UN

The world's richest two percent of adults own more than half of global household wealth, while half the world's population own only one percent, a UN report published on Tuesday showed.
Published 06 Dec, 2006 12:00am
Japan to call for tougher car fuel-efficiency rules

Japan to call for tougher car fuel-efficiency rules

Japan's government is likely to draft proposals this month calling for new rules requiring auto makers to make their vehicles around 20 percent more fuel efficient by April 2016, a transport ministry source said on Tuesday.
Published 06 Dec, 2006 12:00am
Telekom Srbija buys Telekom Srpske for 646 million euros

Telekom Srbija buys Telekom Srpske for 646 million euros

The Bosnian Serb Republic said on Tuesday it would sell a 65 percent stake in Telekom Srpske to Telekom Srbija for 646 million euros ($860.5 million) in Bosnia's biggest privatisation this year.
Published 06 Dec, 2006 12:00am
US calls India to open its economy for investment

US calls India to open its economy for investment

A top US trade envoy leading the biggest ever business delegation in American history appealed to India Tuesday to go the extra mile in opening up its booming economy for foreign investment.
Published 06 Dec, 2006 12:00am
Oerlikon buys UK laser specialist Exitech

Oerlikon buys UK laser specialist Exitech

Swiss technology group Oerlikon bought the main assets of UK laser specialist Exitech for less than 10 million Swiss francs ($8.4 million) as it presses ahead with an aggressive acquisition strategy.
Published 06 Dec, 2006 12:00am
Broadcasters attack new EU content rules

Broadcasters attack new EU content rules

The European Union's proposed new rules on audio-visual content would allow one member country to block broadcasts from another and would weaken the single market, an alliance of media companies said on Tuesday.
Published 06 Dec, 2006 12:00am
Philips to cut costs, but 2007 target disappoints

Philips to cut costs, but 2007 target disappoints

Philips Electronics set core profit forecasts for next year that disappointed some investors, sending its shares lower, but kept its 2006 target for its main business units on Tuesday.
Published 06 Dec, 2006 12:00am
Philips to cut costs, but 2007 target disappoints

Philips to cut costs, but 2007 target disappoints

Philips Electronics set core profit forecasts for next year that disappointed some investors, sending its shares lower, but kept its 2006 target for its main business units on Tuesday.
Published 06 Dec, 2006 12:00am
Delta reaches deal to drop pilots' pension plan

Delta reaches deal to drop pilots' pension plan

Delta Air Lines would be allowed to terminate its pilots' pension plan under an agreement announced on Monday, clearing a significant hurdle in its bid to restructure and exit bankruptcy next year.
Published 06 Dec, 2006 12:00am
Italy launches search for Alitalia buyer

Italy launches search for Alitalia buyer

Italy is to sell off national airline Alitalia, the Treasury said on Tuesday, in the most dramatic step yet to end years of losses and failed bailouts.
Published 06 Dec, 2006 12:00am
US drops key part of transatlantic air deal: EU

US drops key part of transatlantic air deal: EU

The United States has withdrawn a proposal that would have loosened rules on foreign control over US airlines, a key part of a planned EU-US aviation agreement, the European Commission said on Tuesday.
Published 06 Dec, 2006 12:00am
Nintendo may beat targets for earnings

Nintendo may beat targets for earnings

Japanese video game maker Nintendo Co Ltd said it may beat its earnings forecasts for the year to March as well as its sales target for the DS handheld games device.
Published 06 Dec, 2006 12:00am
Nintendo may beat targets for earnings

Nintendo may beat targets for earnings

Japanese video game maker Nintendo Co Ltd said it may beat its earnings forecasts for the year to March as well as its sales target for the DS handheld games device.
Published 06 Dec, 2006 12:00am
Widening wealth gap on agenda as China's ruling elite meet

Widening wealth gap on agenda as China's ruling elite meet

China's top leaders gathered Tuesday to decide economic policies for 2007, a "crucial" year that will see a renewed focus on a fairer distribution of the country's growing wealth, state media and officials said.
Published 06 Dec, 2006 12:00am
Central bank cuts South Korea growth target for 2007

Central bank cuts South Korea growth target for 2007

South Korea Tuesday cut its economic growth target for next year due to sluggish private consumption and investment, as a steep rise in its currency, the won, threatens to hurt exports.
Published 06 Dec, 2006 12:00am
Chinese telecom stocks surge on 3G hopes

Chinese telecom stocks surge on 3G hopes

Chinese telecom stocks listed in Hong Kong surged on Tuesday after the country's top telecoms official said Beijing may issue long-awaited third-generation (3G) mobile network licences soon.
Published 06 Dec, 2006 12:00am
Hitachi aims for double-digit sales growth in China

Hitachi aims for double-digit sales growth in China

Hitachi Ltd Japan's biggest electronic conglomerate, expects double-digit sales growth in China on growing demand products ranging from telecom equipment and escalators to nuclear power equipment.
Published 06 Dec, 2006 12:00am
Hitachi aims for double-digit sales growth in China

Hitachi aims for double-digit sales growth in China

Hitachi Ltd Japan's biggest electronic conglomerate, expects double-digit sales growth in China on growing demand products ranging from telecom equipment and escalators to nuclear power equipment.
Published 06 Dec, 2006 12:00am
Property shares hurt Taiwan stocks

Property shares hurt Taiwan stocks

Taiwan shares ended down 0.49 percent on Tuesday, pulling back from a six-year closing high, amid concerns a strong rally in property-related shares in the past month could not justify their earnings growth.
Published 06 Dec, 2006 12:00am
Malaysian stocks up

Malaysian stocks up

Malaysian share prices closed 1.07 percent higher on Tuesday on strong buying in selected blue chips and buoyed by gains on Wall Street overnight and advances in regional markets, dealers said.
Published 06 Dec, 2006 12:00am
Hong Kong shares advance

Hong Kong shares advance

Hong Kong blue chips rose 1.3 percent on Tuesday as telecom plays surged amid expectations that China will soon issue long-awaited 3G licences. Gains in China Telecom and mainland banks propelled Hong Kong-listed shares in mainland companies, or H shares,
Published 06 Dec, 2006 12:00am