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Print - 2007-03-24
Malaysian tin hits new high

Malaysian tin hits new high

Malaysian tin rose to a fresh high of $14,130 on Friday, boosted by higher prices on the London Metal Exchange, one trader said.
Published 24 Mar, 2007 12:00am
Shanghai copper rises

Shanghai copper rises

Shanghai copper climbed 2 percent on Friday, after a 1.8 percent rally in London copper on the back of a statement by the US Federal Reserve on interest rates. Shanghai Futures Exchange June copper rose 1,230 yuan to 62,240 yuan ($8,058) a tonne at the cl
Published 24 Mar, 2007 12:00am
Australian wool indicator climbs

Australian wool indicator climbs

The Australian Wool Exchange (AWEX) said its eastern market indicator (EMI) rose 3 cents from to 943c a kg clean at sales on Thursday. AWEX said its northern indicator at sales in Sydney rose 4 cents to 977c/kg, the southern indicator at sales in Melbourn
Published 24 Mar, 2007 12:00am
New York sugar up to firm close

New York sugar up to firm close

Raw sugar futures rambled to a firm close on Thursday on buying by small speculators and spread business, with a dearth of news seen keeping the market range-bound for now, brokers said. The New York Board of Trade's May raw sugar contract rose 0.03 cent
Published 24 Mar, 2007 12:00am
Soybeans rally as November 2008 hits contract top

Soybeans rally as November 2008 hits contract top

Soybean futures at the Chicago Board of Trade rose on Thursday, led higher by the 2008 contracts, traders said. "It's interesting with what's happening with November '08. The deferred months are leading the rally as there's concern about getting enough ac
Published 24 Mar, 2007 12:00am
CBOT rice sinks

CBOT rice sinks

Chicago Board of Trade rough rice futures sank on Thursday on follow-through technical sales, with added pressure from reminders of a disappointing US export pace, traders said. May rice ended 9-1/2 cents per hundredweight lower at $10.13-1/2. The back mo
Published 24 Mar, 2007 12:00am
Tocom rubber lower

Tocom rubber lower

Tokyo rubber future ended lower on Friday as investors took profit ahead of the weekend, but prices were still supported by a rise in other commodities. The benchmark rubber contract on Tokyo Commodity Exchange for August delivery settled at 278.5 yen ($2
Published 24 Mar, 2007 12:00am
Malaysian palm oil futures jump

Malaysian palm oil futures jump

Malaysian crude palm oil futures rose 2 percent on Friday as soybean oil strengthened in the United States and there was strong buying, dealers said. The benchmark third-month June contract on the Bursa Malaysia Derivatives Exchange finished up 39 ringgit
Published 24 Mar, 2007 12:00am
WTO urges Canada to overhaul farm trade barriers

WTO urges Canada to overhaul farm trade barriers

Canada should dismantle "significant" trade barriers it uses to protect its dairy and other agricultural producers, the World Trade Organisation (WTO) said on Wednesday. In a review of Canadian trade policies, the WTO said Ottawa applies tariffs exceeding
Published 24 Mar, 2007 12:00am
General Electric to buy Sanyo Credit for $1.1 billion

General Electric to buy Sanyo Credit for $1.1 billion

General Electric Co said on Friday it would launch a $1.14 billion take-over bid for leasing firm Sanyo Electric Credit Co to further expand into Japan's $68 billion leasing market. The deal will also lead to a windfall gain for top shareholder Goldman Sa
Published 24 Mar, 2007 12:00am
French consumer spending falls

French consumer spending falls

French consumer spending on manufactured goods fell in February but analysts said the pullback was to be expected after a string of strong gains and posed no risk to the outlook for growth. Household spending, which has been the driving force behind econo
Published 24 Mar, 2007 12:00am
Qantas bid in disarray as shareholder rejects offer

Qantas bid in disarray as shareholder rejects offer

An $8.7 billion bid for Qantas Airways Ltd, the world's biggest airline take-over, was in disarray on Friday after a key shareholder said it would vote against the offer, forcing the buyout group to rethink its deal.
Published 24 Mar, 2007 12:00am
IMF warns of growing risk from US subprime woes

IMF warns of growing risk from US subprime woes

Increasing defaults on subprime loans in the United States could spread to other markets and sectors of the US economy, the head of the International Monetary Fund warned on Friday.
Published 24 Mar, 2007 12:00am
US existing home sales up

US existing home sales up

The pace of US existing home sales unexpectedly rose in February, increasing 3.9 percent to a 6.69 million-unit annual rate as mild weather spurred home buying, the National Association of Realtors said on Friday.
Published 24 Mar, 2007 12:00am
Citigroup looking into a bid for ABN Amro

Citigroup looking into a bid for ABN Amro

Some executives within Citigroup are pushing for the US banking giant to make a bid for ABN Amro, which is in discussions about a possible merger with Barclays, the Wall Street Journal reported on Friday.
Published 24 Mar, 2007 12:00am
Japan keeps foreign exchange reserves make-up

Japan keeps foreign exchange reserves make-up

Japan has no plans to divert its foreign currency reserves - the world's second largest - out of dollars and will not sell foreign assets to help redeem its government bonds, Finance Minister Koji Omi said on Friday.
Published 24 Mar, 2007 12:00am
TNK-BP to bid in Yukos sale; BP bosses meet Putin

TNK-BP to bid in Yukos sale; BP bosses meet Putin

BP's Russian venture unveiled a surprise bid on Friday for a $9 billion stake in state-controlled oil firm Rosneft, just as its top executives arrived in Moscow to meet President Vladimir Putin.
Published 24 Mar, 2007 12:00am
Livedoor fined $2.4 million over fraud scandal

Livedoor fined $2.4 million over fraud scandal

A Japanese court on Friday fined the disgraced Internet firm Livedoor Co 280 million yen (2.4 million dollars) for falsifying its earnings, a court official said. The Tokyo District Court's latest punishment follows the conviction of Livedoor founder Taka
Published 24 Mar, 2007 12:00am
South Korea's top airport gets new rail link

South Korea's top airport gets new rail link

A high-speed railway linking South Korea's main airport to the suburbs of Seoul opened Friday, amid hopes it will bolster the chances of Incheon becoming one of the world's top airports.
Published 24 Mar, 2007 12:00am
China seen topping US carbon emissions in 2007

China seen topping US carbon emissions in 2007

China is on course to overtake the United States this year as the world's biggest carbon emitter, estimates based on Chinese energy data show, potentially pressuring Beijing to take more action on climate change.
Published 24 Mar, 2007 12:00am
Taiwan stocks continue winning streak

Taiwan stocks continue winning streak

Taiwan stocks rose 0.46 percent on Friday to a 3-1/2-week closing high, led by shares such as Hon Hai, but Asustek dropped after a joint venture with smaller rival Gigabyte was called off. The main TAIEX share index gained 35.65 points to end at 7,859.32,
Published 24 Mar, 2007 12:00am
Singapore shares finish lower

Singapore shares finish lower

Singapore share prices closed 0.43 percent lower on Friday on a lack of fresh leads and as investors consolidated a series of strong gains made this week, dealers said. The Straits Times Index was down 13.69 points at 3,205.82. Volume was 1.33 billion sha
Published 24 Mar, 2007 12:00am
Hong Kong stocks slightly changed

Hong Kong stocks slightly changed

Hong Kong blue chips paused on Friday after gaining for four straight days, but China plays marked their seventh straight gaining session as investors bid up Sinopec Corp amid expectations of improving margins.
Published 24 Mar, 2007 12:00am
US shares flat

US shares flat

US stocks barely budged on Thursday as investors consolidated Wednesday's gains and re-evaluated expectations that the Federal Reserve's next policy move will be an interest rate cut. Motorola Inc added to the cautious mood on Wall Street after the mobile
Published 24 Mar, 2007 12:00am
US Treasury debt prices slump

US Treasury debt prices slump

US Treasury debt prices fell on Thursday, erasing the previous session's sharp gains, on doubts whether a softening of the Federal Reserve's tone on inflation would produce a rate cut soon. Perceived chances of a rate cut by the end of June, as shown by U
Published 24 Mar, 2007 12:00am
US Treasury debt prices slump

US Treasury debt prices slump

US Treasury debt prices fell on Thursday, erasing the previous session's sharp gains, on doubts whether a softening of the Federal Reserve's tone on inflation would produce a rate cut soon. Perceived chances of a rate cut by the end of June, as shown by U
Published 24 Mar, 2007 12:00am
Indian shares fall

Indian shares fall

Indian share prices closed down 0.17 percent on Friday, snapping four straight days of gains as investors took profits after a sharp rally led by global trends, dealers said. They said the markets may weaken next week on expectations of a local rate hike,
Published 24 Mar, 2007 12:00am
Philippines stocks tumble

Philippines stocks tumble

Philippines share prices closed 0.26 percent lower on Friday as a lack of leads resulted in mixed trade as some investors opted to take some profits ahead of the weekend, dealers said. Buying in select blue chips like Ayala Corp and SM Investments helped
Published 24 Mar, 2007 12:00am
Malaysian shares finish 1.14 percent higher

Malaysian shares finish 1.14 percent higher

Malaysian share prices closed 1.14 percent higher on Friday, extending gains to a seventh straight day after the government announced major incentives for the property sector, dealers said. Prime Minister Abdullah Ahmad Badawi on Thursday announced at a m
Published 24 Mar, 2007 12:00am
Nikkei ends at three-week high

Nikkei ends at three-week high

The Nikkei average rose 0.35 percent on Friday as investors picked up laggards like Mitsubishi UFJ Financial Group and other bank shares, while a softer yen boosted auto shares such as Honda Motor Co Ltd Drug maker Eisai Co advanced 1.7 percent after it s
Published 24 Mar, 2007 12:00am
New Zealand shares dip

New Zealand shares dip

New Zealand share prices closed 0.29 percent lower on Friday, drifting downwards with a lack of direction, dealers said. The benchmark NZX-50 index closed 11.98 points down at 4,064.05 on turnover worth 118.05 million dollars (83.14 million US).
Published 24 Mar, 2007 12:00am
Thai stocks up

Thai stocks up

Thai share prices closed 0.44 percent higher on Friday, led by gains in energy stocks as oil prices climbed while the banks also attracted attention in an otherwise subdued market, dealers said. The Stock Exchange of Thailand (SET) composite index gained
Published 24 Mar, 2007 12:00am
Indonesian shares slip

Indonesian shares slip

Indonesian share prices closed 0.17 percent lower on Friday as investors took profits, dealers said. The Jakarta Stock Exchange composite index slipped 3.105 points at 1,805.961 on volume of 1.98 billion shares worth 2.4 trillion rupiah (263.59 million do
Published 24 Mar, 2007 12:00am
Swiss franc steady

Swiss franc steady

The Swiss franc was little changed against the euro, the dollar and the yen on Friday after the Swiss central bank warned that the franc could undergo an abrupt revaluation at some point in the future. A weak franc risked a violent correction if it fell o
Published 24 Mar, 2007 12:00am
Indian rupee bounces back

Indian rupee bounces back

The Indian rupee bounced back on Friday, as traders sold dollars to generate funds to overcome a slight cash squeeze in the money market. A severe cash shortage in the banking system earlier this week had prompted traders to dump dollars to meet their dai
Published 24 Mar, 2007 12:00am
Dollar keeps gains

Dollar keeps gains

The dollar steadied against the euro and yen on Friday, retaining gains made the previous session on views that the Federal Reserve may keep interest rates on hold for some time. The Fed left the funds rate unchanged at 5.25 percent on Wednesday but elimi
Published 24 Mar, 2007 12:00am
Dollar rallies

Dollar rallies

The dollar rose sharply on Thursday, recouping the prior session's losses on the view that the Federal Reserve may continue holding interest rates steady for some time to come. The Fed left borrowing costs at 5.25 percent on Wednesday but dropped language
Published 24 Mar, 2007 12:00am
Yuan ends down

Yuan ends down

China's yuan closed weaker against the dollar on Friday, as the central bank guided the yuan lower in response to the US currency's overnight strength on global markets, dealers said. The yuan finished at 7.7280 to the dollar, down from Thursday's close o
Published 24 Mar, 2007 12:00am
Australian dollar below 10-year high

Australian dollar below 10-year high

The Australian dollar held in a narrow range against the US currency on Friday after easing off a fresh 10-year high in offshore trade on profit-taking and a rethink on when the Federal Reserve might cut rates this year.
Published 24 Mar, 2007 12:00am
Hong Kong dollar retreats

Hong Kong dollar retreats

The Hong Kong dollar fell on Friday, erasing the previous session's gains, as the market re-assessed the Federal Reserve's stance on interest rates. The currency slipped as low as 7.8129 against the US dollar before trading back to 7.8117/19, down from 7.
Published 24 Mar, 2007 12:00am
Asian currencies fall

Asian currencies fall

Asian currencies fell on Friday, pulling back from Thursday's multi-month highs versus the dollar, on a growing view that US interest rates may be on hold for a while despite a softening in the Federal Reserve's stance.
Published 24 Mar, 2007 12:00am
Venus makes winning start

Venus makes winning start

Three-times champion Venus Williams recovered from losing the first four games to beat Ukraine's Yuliana Fedak 7-5 6-2 in the Sony Ericsson Open first round on Thursday. On the men's side, qualifier Guillermo Canas, who last week ended world number one Ro
Published 24 Mar, 2007 12:00am
Woolmer trust fund established to continue his methods

Woolmer trust fund established to continue his methods

A trust fund in memory of murdered Pakistan and former South African coach Bob Woolmer has been established in South Africa, it was announced on Friday. The Bob Woolmer Trust Fund will raise money for a number of projects, including a coaching academy, th
Published 24 Mar, 2007 12:00am
Pakistan team want to leave Jamaica immediately

Pakistan team want to leave Jamaica immediately

Pakistan's World Cup team have asked Jamaican police to allow them to leave the island as soon as possible after the announcement that coach Bob Woolmer was murdered, the team manager said on Friday.
Published 24 Mar, 2007 12:00am
Tasmania claim first Sheffield Shield crown

Tasmania claim first Sheffield Shield crown

Island state Tasmania won Australia's Sheffield Shield cricket title for the first time in their 30 years after thrashing New South Wales by 421 runs at Bellerive Oval here Friday. The Tasmanians, hosting the final for the first time, skittled NSW for 149
Published 24 Mar, 2007 12:00am
Vincent ends drought as New Zealand overpower Canada

Vincent ends drought as New Zealand overpower Canada

Lou Vincent found his form after two noughts with a hundred as New Zealand made it three World Cup wins out of three in Group C with a 114-run success against Canada at the Beausejour Cricket Ground here Thursday.
Published 24 Mar, 2007 12:00am
Jamaican police believe Woolmer knew his murderer

Jamaican police believe Woolmer knew his murderer

Jamaican police think it likely that Pakistan coach Bob Woolmer was strangled by someone he knew after his team's defeat at cricket's World Cup showpiece, a senior officer told British radio Friday.
Published 24 Mar, 2007 12:00am
Jamaican police believe Woolmer knew his murderer

Jamaican police believe Woolmer knew his murderer

Jamaican police think it likely that Pakistan coach Bob Woolmer was strangled by someone he knew after his team's defeat at cricket's World Cup showpiece, a senior officer told British radio Friday.
Published 24 Mar, 2007 12:00am
Top diplomat being rushed to Jamaica

Top diplomat being rushed to Jamaica

Pakistan said Friday it was rushing a senior diplomat from Washington to Jamaica after Caribbean police said national team cricket coach Bob Woolmer was strangled. "We do not have any diplomatic presence in Jamaica and we have decided to send a senior off
Published 24 Mar, 2007 12:00am
No Pakistani player suspects in Woolmer case: Nasim

No Pakistani player suspects in Woolmer case: Nasim

The chairman of the Pakistan Cricket Board has said that no Pakistani player is a suspect in the murder of coach Bob Woolmer. Dr Nasim Ashraf told Pakistani television channels that the Pakistan team members had been questioned by Jamaican police as part
Published 24 Mar, 2007 12:00am
Seven killed in Kinshasa clashes: radio

Seven killed in Kinshasa clashes: radio

Fighting between Democratic Republic of Congo troops and guards of opposition leader Jean-Pierre Bemba has killed at least seven people in the past two days, UN-sponsored Radio Okapi reported Friday.
Published 24 Mar, 2007 12:00am
Accused denies plot linked to London bombings

Accused denies plot linked to London bombings

An Eritrean-born man accused of masterminding four attempted bombings on July 21, 2005 in London denied on Friday that he had plotted them with the men who killed 52 people in suicide attacks two weeks earlier.
Published 24 Mar, 2007 12:00am
Voter list update highlights Palestinian suspicions

Voter list update highlights Palestinian suspicions

An update of Palestinian voter rolls will start next week after months of delay and resistance from Hamas that exposed the mistrust between the main factions now sharing a unity government.
Published 24 Mar, 2007 12:00am
Japan to tighten nuclear rules after near misses

Japan to tighten nuclear rules after near misses

Japan said Friday it would tighten its rules on the reporting of nuclear incidents after the recent revelation of a series of past near misses. Industry minister Akira Amari said power firms would be required to report all cases of dislodged nuclear contr
Published 24 Mar, 2007 12:00am
Violence flares at disputed real estate project in China

Violence flares at disputed real estate project in China

A construction team in southern China began beating villagers at a hotly disputed real estate project after a worker ran his truck into a local who later died from injuries, press reports said Friday.
Published 24 Mar, 2007 12:00am
300 Asian migrants intercepted near Senegal

300 Asian migrants intercepted near Senegal

A European border agency patrol vessel intercepted a boat carrying 300 illegal migrants from India and Pakistan off the coast of Senegal, officials said Friday. The boat, with a North Korean flag and named the "Happy Day," was discovered about 80 nautical
Published 24 Mar, 2007 12:00am
Nine killed in Thai navy chopper crash

Nine killed in Thai navy chopper crash

Nine navy officers were killed Friday when their helicopter crashed into a rice field and burst into flames in northeast Thailand, officials said. The Bell 214 helicopter was on a routine training flight when it crashed in Surin province, 455 kilometers (
Published 24 Mar, 2007 12:00am
US plays down China threat

US plays down China threat

The US military's top commander said here Friday that he did not believe China's armed forces were a threat and played down the prospects for hostilities in the Taiwan strait.
Published 24 Mar, 2007 12:00am
Germany sets two-year deadline for EU overhaul

Germany sets two-year deadline for EU overhaul

European Union president Germany will set the bloc a two-year deadline to modernise its institutions when leaders from 27 member states gather this weekend in Berlin to celebrate the club's 50th anniversary.
Published 24 Mar, 2007 12:00am
Three dead in Australian tunnel crash

Three dead in Australian tunnel crash

At least three people were killed Friday in a fiery multi-vehicle crash in a Melbourne tunnel that led to an explosion and forced hundreds of motorists to evacuate, rescue services said.
Published 24 Mar, 2007 12:00am
Two thousand Thais rally against junta

Two thousand Thais rally against junta

About 2,000 Thais held an anti-junta rally organised by members of deposed premier Thaksin Shinawatra's political party Friday, demanding an end to the military-installed government. "We are against the coup. The military government should leave now," sho
Published 24 Mar, 2007 12:00am
Total chief back at work as Iran probe continues

Total chief back at work as Iran probe continues

The chief executive of French oil giant Total returned to work on Friday after being questioned about alleged illegal payments to Iran, six months after being named in a separate kickbacks probe on Iraq.
Published 24 Mar, 2007 12:00am
UN chief in Egypt in push for Middle East peace

UN chief in Egypt in push for Middle East peace

UN Secretary General Ban Ki-moon was in Egypt Friday on the second leg of a Middle East tour amid a flurry of diplomatic activity in the region aimed at re-energising the peace process. Ban, who arrived from Baghdad, was expected to meet Egyptian Foreign
Published 24 Mar, 2007 12:00am
North Korea talks expected to regroup soon

North Korea talks expected to regroup soon

Talks aimed at ending North Korea's nuclear threat that ground to a halt over a stalled bank payment may restart soon as negotiators seek to focus on disarmament, the chief US envoy said on Friday.
Published 24 Mar, 2007 12:00am
Plane crashes on third day of Mogadishu fighting

Plane crashes on third day of Mogadishu fighting

A plane carrying 11 people burst into flames and crashed in north Mogadishu on Friday during the third day of clashes between rebels and government troops backed by Ethiopian soldiers, officials said.
Published 24 Mar, 2007 12:00am
US missile plan 'real threat' to Russia: foreign minister

US missile plan 'real threat' to Russia: foreign minister

A US plan to deploy an anti-missile defence system in eastern Europe against potential attacks from Iran threatens Russia and undermines co-operation in the United Nations, Russian Foreign Minister Sergei Lavrov said Friday.
Published 24 Mar, 2007 12:00am
Sterling falls versus yen and dollar

Sterling falls versus yen and dollar

Sterling fell against the yen and the dollar on Friday as investors took profits on the pound after a week of strong gains. The pound's gains of around 1 percent this week on a trade-weighted basis were driven by increased confidence the Bank of England w
Published 24 Mar, 2007 12:00am
Yen rises across the board

Yen rises across the board

The yen rose across the board on Friday, reversing losses made earlier this week as investors bought back the Japanese currency they had previously sold to buy higher-yielding assets. The dollar steadied against other major currencies, having hit a two-ye
Published 24 Mar, 2007 12:00am
Bonds: Valeo soars on bid approach, Daimler tightens

Bonds: Valeo soars on bid approach, Daimler tightens

Credit default swaps on France's Valeo soared on Friday, after the car parts group confirmed it had received a bid approach, while carmaker DaimlerChrysler's CDSs tightened on hopes it is close to selling its Chrysler unit.
Published 24 Mar, 2007 12:00am
Bonds: Valeo soars on bid approach, Daimler tightens

Bonds: Valeo soars on bid approach, Daimler tightens

Credit default swaps on France's Valeo soared on Friday, after the car parts group confirmed it had received a bid approach, while carmaker DaimlerChrysler's CDSs tightened on hopes it is close to selling its Chrysler unit.
Published 24 Mar, 2007 12:00am
Chinese main index flat

Chinese main index flat

Chinese main stock index ended little changed on Friday after testing lower. Most shares rebounded in late trade but heavily weighted banks and property stocks were weak. "Today's correction was expected, before the index establishes itself firmly above 3
Published 24 Mar, 2007 12:00am
US Stocks: Friday's late afternoon trade

US Stocks: Friday's late afternoon trade

US stocks were little changed on Friday as a rise in oil prices triggered by Middle East tensions boosted energy stocks but weighed on the broad market. Gains on the Nasdaq market were stemmed by shares of Amgen Inc after the world's largest biotechnology
Published 24 Mar, 2007 12:00am
Seoul shares dip

Seoul shares dip

Seoul shares fell 0.1 percent on Friday as a surge in oil prices hit energy cost-sensitives firms such as KEPCO, while exporters retreated on worries the won currency would strengthen against the Japanese yen. The benchmark Korea Composite Stock Price Ind
Published 24 Mar, 2007 12:00am
FTSE notches up five-day winning streak

FTSE notches up five-day winning streak

Britain's benchmark share index ended the week on a positive note, as oil stocks and M&A chatter helped European shares score their first five-day winning streak since recent slides in world equities. M&A talk lifted shares in Pearson to a five-year high.
Published 24 Mar, 2007 12:00am
New York cotton futures mixed

New York cotton futures mixed

Cotton futures settled mixed Friday in another quiet session as most players awaited next week's potential plantings report by the government, brokers said. New York Board of Trade's May cotton contract closed up 0.05 cent at 53.27 cents per lb after trad
Published 24 Mar, 2007 12:00am
China soya outlook bearish, wheat strong

China soya outlook bearish, wheat strong

Chinese traders' outlook for soyabean, soya products and corn remains bearish for next week while wheat has picked up, a survey by a Chinese think tank showed on Friday. The soyabean outlook turned bearish after week-high US soyabean prices slowed down pu
Published 24 Mar, 2007 12:00am
Commodity investors face daunting mix of products

Commodity investors face daunting mix of products

Investments in commodities have exploded over the past three years and while investors are feasting on a smorgasbord of funds and products, the sheer number of options in the market is giving many a bellyache.
Published 24 Mar, 2007 12:00am
Oil rises after Iran captures UK navy personnel

Oil rises after Iran captures UK navy personnel

Oil rose above $62 to a three-month high on Friday after Iran seized 15 British navy personnel, raising concerns about renewed tension between the oil producer and the West. US crude settled up 59 cents at $62.28 a barrel, adding to gains of more than $2
Published 24 Mar, 2007 12:00am
Soya yields on Brazil farming frontier seen record

Soya yields on Brazil farming frontier seen record

Good rainfall earlier in the season is contributing to record soyabean yields in western Bahia state, one of the frontier areas of Brazil's soy belt, producers and suppliers said. The greater humidity, however, also requires greater application of fungici
Published 24 Mar, 2007 12:00am
London cocoa down

London cocoa down

London cocoa futures hit a fresh 3-1/2 year peak on Friday before running into profit-taking and closing slightly lower, dealers said. "I think we went too fast, too soon," one dealer said, adding the market had become overbought following its recent adva
Published 24 Mar, 2007 12:00am
Tin touches new high, nickel drops seven percent

Tin touches new high, nickel drops seven percent

Nickel shed over seven percent on the London Metal Exchange on Friday as investors took profits ahead of what analysts said would be a more balanced market in the second half of 2007. But tin bucked the falling trend and hit a new high - it touched a peak
Published 24 Mar, 2007 12:00am
Gold slips in London

Gold slips in London

Gold fell 1.5 percent on Friday from its previous session's three-week high, as a rise in the dollar after better-than-expected US existing home sales prompted investors to take profits ahead of the weekend. But traders said the drop would be limited beca
Published 24 Mar, 2007 12:00am
US MIDDAY: corn turns mixed

US MIDDAY: corn turns mixed

Corn futures at the Chicago Board of Trade were mixed in choppy dealings on Friday as traders await the release next Friday of USDA's March planting intentions report.
Published 24 Mar, 2007 12:00am
US MIDDAY: wheat lower

US MIDDAY: wheat lower

Soft red winter wheat futures at the Chicago Board of Trade turned lower by midsession on Friday as bearish fundamentals, including good US crop weather, triggered light speculative selling, traders said.
Published 24 Mar, 2007 12:00am
US MIDDAY: soyabeans firm

US MIDDAY: soyabeans firm

Soyabean futures at the Chicago Board of Trade were firm midday Friday, supported by the rally in soyabean oil to contract highs, traders said. Soyaoil was mimicking the strength in the crude oil, which climbed on Iran's seizure of British naval personnel
Published 24 Mar, 2007 12:00am
US MIDDAY: copper hits three-month high

US MIDDAY: copper hits three-month high

New York copper futures rallied overnight to levels last hit December 12, retreated briefly, then renewed their healthy gains Friday morning on a surprising jump in US home sales, traders said.
Published 24 Mar, 2007 12:00am
US MIDDAY: gold futures fall

US MIDDAY: gold futures fall

US gold futures dropped 1 percent Friday morning as investors locked in solid profits from the past several sessions, and higher crude oil prices and geopolitical tensions kept the precious metal from falling further.
Published 24 Mar, 2007 12:00am
Nisar Bazmi laid to rest

Nisar Bazmi laid to rest

Country's revered music composer Nisar Ahmed Bazmi was buried on Friday near his residence in North Karachi. He left a widow three sons and four daughters to mourn his death. He died late on Thursday night at Agha Khan University Hospital in Karachi after
Published 24 Mar, 2007 12:00am
Six benches constituted for next week

Six benches constituted for next week

Acting Chief Justice of Pakistan, Justice Javed Iqbal has constituted six benches of the apex court for the next week starting from March 26 to hear hundreds of cases at Islamabad, Lahore and Karachi Registries.
Published 24 Mar, 2007 12:00am
Kashmiris celebrate Pakistan Day

Kashmiris celebrate Pakistan Day

With a dazzling zest to affix their destiny with Pakistan, the Kashmiris dwelling on either side of the Line of Control celebrated the sanctified Pakistan Day on Friday in a befitting manner.
Published 24 Mar, 2007 12:00am
UNFPA moot on MDGs on March 27

UNFPA moot on MDGs on March 27

Young people from all provinces will assemble in Islamabad to participate in UNFPA conference on 'MDGs and Youth Empowerment' being held here at a local hotel on Tuesday. Pakistan currently has the largest cohort of young people in its history.
Published 24 Mar, 2007 12:00am
Reconstruction top priority: AJK chief secretary

Reconstruction top priority: AJK chief secretary

The newly appointed Chief Secretary of Azad Kashmir Major Javed Majeed (Retd) has said that the reconstruction of AJK cities destroyed in the October 2005 earthquake would be his first priority.
Published 24 Mar, 2007 12:00am
New Islamist group denies al Qaeda link

New Islamist group denies al Qaeda link

Wrapped in a black-and-white-chequered Arab headdress, the leader of a new Palestinian Islamist group Fatah al-Islam denied the group had links to al Qaeda or any other organisations and vowed that the group would defend itself.
Published 24 Mar, 2007 12:00am
500 acres land acquired for engineering university

500 acres land acquired for engineering university

The Punjab government has acquired as many as 500 acres of a suitable land near Sambrial along the main Sialkot-Sambrial-Wazirabad Road for establishment of an international standard engineering university.
Published 24 Mar, 2007 12:00am
Insecure and faulty ATM booths

Insecure and faulty ATM booths

The letter of Miss. Erum Qureshi on 'Insecure and faulty ATM Booths' published in your issue of 11 March 2007, truly speaks of the common problems being faced by many account holders at many ATM booths in daily routine without any remedial measures.
Published 24 Mar, 2007 12:00am