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Print - 2007-04-13
Rain, not politics, the key to Australian wheat

Rain, not politics, the key to Australian wheat

For the sixth straight year Australia's farmers are waiting in drought-parched lands for enough rain to allow them to begin planting. Nobody knows if it is climate change or bad luck, but it just does not rain when needed in Australia's grain belt anymore
Published 13 Apr, 2007 12:00am
Indonesia to buy raw sugar

Indonesia to buy raw sugar

Four Indonesian states owned sugar mills plan to hold auctions to buy 173,514 tonnes of raw sugar on April 18, officials said on Thursday. The mills will process the raw sugar to optimise their production capacity due to an expected fall in the cane harve
Published 13 Apr, 2007 12:00am
CBOT rice declines

CBOT rice declines

Rough rice futures at the Chicago Board of Trade posted double-digit declines on Wednesday as commodity funds liquidated long positions, traders said. There was little news to stir much fresh interest in the markets, with spreading featured.
Published 13 Apr, 2007 12:00am
New York sugar ends firms

New York sugar ends firms

Raw sugar futures closed higher on Wednesday on speculative buying and switch trade as players move out of the spot month before it goes off the board at month's end, brokers said. The New York Board of Trade's May raw sugar contract rose 0.16 cent to set
Published 13 Apr, 2007 12:00am
Soyabean futures higher

Soyabean futures higher

Soyabean futures at the Chicago Board of Trade closed higher on Wednesday, gaining on corn as the soya/corn price ratio adjusted, traders said. May soyabeans ended 4 cents higher at $7.46-1/2 per bushel and new-crop November closed 4-1/4 up at $7.91-3/4.
Published 13 Apr, 2007 12:00am
Malaysian tin slips

Malaysian tin slips

Malaysian tin fell slightly on Thursday as European buyers were sidelined by the high premium over the price on the London Metal Exchange, one dealer said.
Published 13 Apr, 2007 12:00am
Analyst trims EU grain output, crop disease worry

Analyst trims EU grain output, crop disease worry

French analyst Strategies Grains on Thursday lowered its estimate of the European Union's 2007 grain harvest by 300,000 tonnes to 284.6 million tonnes, a total crop that is still 9 percent above last year.
Published 13 Apr, 2007 12:00am
Kenya direct coffee sales yet to pick up

Kenya direct coffee sales yet to pick up

A new direct coffee marketing system in Kenya that was meant to boost farmers' income has yet to pick up due to market access constraints, the Coffee Board of Kenya said on Thursday.
Published 13 Apr, 2007 12:00am
Malaysian palm oil down

Malaysian palm oil down

Malaysian crude palm oil futures closed 0.6 percent lower on Thursday as soyoil declined and players booked profits after a rally that boosted prices to eight-year highs. Dealers said the market was expected to bounce back because of poor palm oil supplie
Published 13 Apr, 2007 12:00am
China's foreign exchange reserves breach $1.2 trillion

China's foreign exchange reserves breach $1.2 trillion

China's foreign exchange reserves breached $1.2 trillion in the first quarter after a record quarterly jump, but money supply growth eased slightly in March in response to a government tightening campaign.
Published 13 Apr, 2007 12:00am
Japan, China firms sign oil and gas deals

Japan, China firms sign oil and gas deals

Japanese and Chinese companies said they signed business deals in the energy sector on Thursday which may lead to possible joint development of oil and gas projects in the future, including in the East China Sea. The deals were struck at a Japan-China ene
Published 13 Apr, 2007 12:00am
Trade powers agree deadline for WTO deal

Trade powers agree deadline for WTO deal

Commercial powers on Thursday agreed to speed troubled World Trade Organisation (WTO) negotiations and finish a new free trade treaty by end-2007.
Published 13 Apr, 2007 12:00am
WTO sees trade growth slowing to six percent in 2007

WTO sees trade growth slowing to six percent in 2007

Growth in international trade will remain strong in 2007 although it will slip to 6 percent from 8 percent last year as global economic expansion slows, the World Trade Organisation (WTO) said on Thursday.
Published 13 Apr, 2007 12:00am
Wal-Mart sales beat targets

Wal-Mart sales beat targets

Wal-Mart Stores Inc on Thursday reported a stronger-than-expected 4 percent rise in March sales at US stores open at least a year, helped by demand for Easter merchandise and food. But the world's largest retailer said that meeting its quarterly earnings
Published 13 Apr, 2007 12:00am
Nasdaq makes bid for Nordic exchange

Nasdaq makes bid for Nordic exchange

US stock market operator Nasdaq has offered 3.3 billion dollars (2.48 billion dollars) to buy its Nordic counterpart OMX, the Swedish financial daily Dagens Industri reported Thursday. The bid for OMX, which groups seven Nordic and Baltic exchanges, total
Published 13 Apr, 2007 12:00am
Britain's trade gap widens as imports rise

Britain's trade gap widens as imports rise

Britain's trade deficit widened more than expected in February as imports rose and exports outside the European Union fell, official data showed on Thursday. Analysts said the data showed strong domestic consumption was continuing to suck in imports while
Published 13 Apr, 2007 12:00am
IEA warns on oil inventories after big first quarter drop

IEA warns on oil inventories after big first quarter drop

Oil stocks in consumer nations posted the biggest first-quarter drop in a decade and may fall further in coming months, the International Energy Agency said, keeping the heat under crude prices.
Published 13 Apr, 2007 12:00am
Eurozone fourth quarter GDP rises to six-year high

Eurozone fourth quarter GDP rises to six-year high

Exports, investment and household demand drove eurozone economic growth at the end of last year to six-year highs, data confirmed on Thursday, but the European Commission forecast a slowdown in the first quarter.
Published 13 Apr, 2007 12:00am
ECB keeps interest rates on hold

ECB keeps interest rates on hold

The European Central Bank kept interest rates at 3.75 percent on Thursday as expected and cemented market expectations for a June rate hike to keep eurozone inflationary pressures in check.
Published 13 Apr, 2007 12:00am
I made a mistake, Wolfowitz says of promotion

I made a mistake, Wolfowitz says of promotion

World Bank President Paul Wolfowitz said on Thursday he made "a mistake for which I am sorry" over his handling of the promotion and pay increase of a staff member, Shaha Riza, whom he is dating.
Published 13 Apr, 2007 12:00am
US jobless claims, import prices rise

US jobless claims, import prices rise

The number of US workers filing new claims for jobless benefits jumped last week but the outcome was skewed by school layoffs, while soaring petroleum costs drove import prices to a 10-month high in March.
Published 13 Apr, 2007 12:00am
South Korea leaves interest rates unchanged

South Korea leaves interest rates unchanged

South Korea's central bank on Thursday left its key interest rate unchanged for the eighth straight month, amid a cooling property market and subdued inflationary pressure. After a monthly policy-setting meeting, the April target for the call rate remains
Published 13 Apr, 2007 12:00am
Probe of lucrative US student loan industry widens

Probe of lucrative US student loan industry widens

A probe into the US student loan industry has resulted in an out-of-court settlement with a major lender, but more questions of kickbacks and "conflicts of interest" are being probed, officials said.
Published 13 Apr, 2007 12:00am
New Zealand shares up

New Zealand shares up

New Zealand share prices closed 0.50 percent higher on Thursday following a sharp rise in market leader Telecom, dealers said. The benchmark NZX-50 gross index rose 20.74 points to 4,168.10 on turnover worth 149.0 million dollars (108.3 million US).
Published 13 Apr, 2007 12:00am
Jakarta stocks little changed

Jakarta stocks little changed

Indonesian share prices edged down 0.03 percent on Thursday, as late gains offset initial profit taking, dealers said. The Jakarta Stock Exchange composite index closed down 0.647 points at 1,930.397 on volume of 3.21 billion shares worth 3.36 trillion ru
Published 13 Apr, 2007 12:00am
Thai shares slump

Thai shares slump

Thai share prices closed 0.38 percent lower on Thursday as investors locked in profits ahead of the upcoming five-day Buddhist New Year holiday, dealers said. They said sentiment was downbeat due to a mixed regional market and a lack of fresh leads. Thail
Published 13 Apr, 2007 12:00am
Hong Kong stocks dip

Hong Kong stocks dip

Hong Kong stocks fell on Thursday, tracking a softer tone in regional markets as investors locked in short-term profits on fears of rate hikes in the US. Brokers said investors were taking the rate hike fear as an excuse to sell down blue chips but demand
Published 13 Apr, 2007 12:00am
Wall Street slides on Fed minutes

Wall Street slides on Fed minutes

US stocks tumbled on Wednesday as minutes from last month's Federal Reserve meeting hinted at the need for more rate hikes, adding to worries about surging gasoline prices and the weak housing market.
Published 13 Apr, 2007 12:00am
US Treasury prices finish lower

US Treasury prices finish lower

US government bond prices shaved modest gains and turned lower on Wednesday after minutes from the Federal Reserve's March policy meeting asserted that more monetary tightening might be needed.
Published 13 Apr, 2007 12:00am
US Treasury prices finish lower

US Treasury prices finish lower

US government bond prices shaved modest gains and turned lower on Wednesday after minutes from the Federal Reserve's March policy meeting asserted that more monetary tightening might be needed.
Published 13 Apr, 2007 12:00am
Indian shares drop

Indian shares drop

Indian share prices closed 0.53 percent lower on Thursday as investors continued to unwind positions ahead of the earnings season which kicks off this week, dealers said. They said investors were nervous ahead of earnings due Friday by India's second larg
Published 13 Apr, 2007 12:00am
Philippines stocks decline

Philippines stocks decline

Philippines share prices closed 2.15 percent lower on Thursday as Wall Street's losses overnight prompted investors to cash in on recent gains, dealers said. The composite index lost 70.99 points to 3,223.22 after moving between 3,217.72 and 3,294.14. The
Published 13 Apr, 2007 12:00am
Malaysian shares end flat

Malaysian shares end flat

Malaysian share prices closed flat on Thursday with gains in late trade off-setting profit-taking on fresh worries over inflation in the United States, dealers said. Plantation stocks continued to rally on high crude palm oil prices.
Published 13 Apr, 2007 12:00am
Nikkei falls as exporters and brokerages decline

Nikkei falls as exporters and brokerages decline

The Nikkei average fell 0.73 percent on Thursday as Canon Inc and other exporters dropped on concerns about the US economy, and slowing trade volume put shares of brokerage firms under pressure.
Published 13 Apr, 2007 12:00am
Taiwan stocks tumble

Taiwan stocks tumble

Taiwan shares fell 0.11 percent on Thursday as losses on Wall Street triggered selling in tech exporters such as TSMC ahead of quarterly profit reports, pulling the market away from a 6-1/2-year high. The main TAIEX share index was trapped in a tight rang
Published 13 Apr, 2007 12:00am
Singapore share prices 1.42 percent down

Singapore share prices 1.42 percent down

Singapore share prices closed 1.42 percent lower on Thursday as investors cashed in gains after a recent record-breaking run, dealers said. They said banks and property stocks led the declines. The Straits Times Index (STI) closed down 47.93 points at 3,3
Published 13 Apr, 2007 12:00am
Swiss franc at fresh lows

Swiss franc at fresh lows

The Swiss franc fell to a fresh 8-1/2-year low against the euro in early Thursday trading ahead of the European Central Bank's policy meeting, where the central bank is expected to prepare the ground for another rate hike in June.
Published 13 Apr, 2007 12:00am
Yuan ends down

Yuan ends down

The yuan fell against the dollar on Thursday, hit by the lingering impact of China's surprisingly low March trade surplus announced on Tuesday, which dampened the near-term outlook for yuan appreciation.
Published 13 Apr, 2007 12:00am
Euro strides to two-year peak

Euro strides to two-year peak

The euro surged to a two-year peak against the dollar and an all-time high against the yen on Thursday on hopes the European Central Bank will signal that interest rates need to rise further later in the session.
Published 13 Apr, 2007 12:00am
Yen touches record low

Yen touches record low

The yen touched a record low against the euro on Wednesday, as investors took comments by the International Monetary Fund on carry-trades as a green light to keep borrowing yen to fund purchases of higher-yielding currencies.
Published 13 Apr, 2007 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Thursday. 68.80/68.80 (previous 68.80/68.80). Call Money Rates: 6.75-10.00 percent (previous 6.75-10.00 percent).
Published 13 Apr, 2007 12:00am
Singapore dollar at three-week low

Singapore dollar at three-week low

The Singapore dollar hit a three-week low on Thursday on suspected central bank buying of US dollars to cap local currency strength, while wariness about intervention helped keep other Asian currencies in a tight range.
Published 13 Apr, 2007 12:00am
Hong Kong dollar falls

Hong Kong dollar falls

The Hong Kong dollar drifted lower on Thursday, weighed down by arbitrage buying of the US dollar and a slight decline in stocks. The domestic currency fell as low as 7.8160 against the US dollar before trading back to 7.8148/49, weaker than 7.8132/34 in
Published 13 Apr, 2007 12:00am
PCB to contest Sarfraz Nawaz's legal notice

PCB to contest Sarfraz Nawaz's legal notice

Pakistan Cricket Board (PCB) will contest the legal notice served by former test cricketer, Sarfraz Nawaz to PCB Chairman, Dr Nasim Ashraf. "We have received the legal notice and our legal advisors will be contesting it in the court of law", a spokesman o
Published 13 Apr, 2007 12:00am
Bangladesh set new target after semi-final hopes dashed

Bangladesh set new target after semi-final hopes dashed

Bangladesh captain Habibul Bashar conceded his team's World Cup semi-final hopes are doomed after a four-wicket defeat against England in the Super Eights match here. "Had we won today we'd be in the running for a semi-final place, but our chances are sli
Published 13 Apr, 2007 12:00am
Croatia face Britain in Davis cup playoffs

Croatia face Britain in Davis cup playoffs

Croatia, the 2005 Davis Cup winners, must beat Britain to keep their place in the elite World Group after the draw was made for the playoffs on Wednesday. The Croats will visit their opponents for the tie to be played from September 21-23 after home advan
Published 13 Apr, 2007 12:00am
Greece to install CCTV cameras at all soccer, basketball game

Greece to install CCTV cameras at all soccer, basketball game

The Greek government announced on Thursday a three-phase plan to introduce closed circuit TV cameras at every top flight soccer and basketball game by the autumn to combat crowd violence. The first high profile event to benefit from the cameras will be so
Published 13 Apr, 2007 12:00am
Liverpool gearing up for repeat of 2005

Liverpool gearing up for repeat of 2005

It is looking like deja vu for Liverpool as they contemplate a second Champions League semi-final against Chelsea in two years with the prospect of a final meeting with AC Milan also on the horizon.
Published 13 Apr, 2007 12:00am
Kenya facing new FIFA sanctions

Kenya facing new FIFA sanctions

Kenya's football federation is once again facing the threat of suspension by world governing body FIFA over renewed allegations of political interference by the country's government.
Published 13 Apr, 2007 12:00am
Woolmer's inquest to start on April 23

Woolmer's inquest to start on April 23

A coroner's inquest into the death of former Pakistan cricket coach Bob Woolmer will be held in the Jamaican capital Kingston on April 23, officials told Reuters. Coroner for Kingston, Patrick Murphy, confirmed here late on Wednesday that he had set the d
Published 13 Apr, 2007 12:00am
BBC assured missing Gaza reporter alive, parents appeal

BBC assured missing Gaza reporter alive, parents appeal

Palestinian President Mahmoud Abbas has said he has evidence a BBC reporter abducted in Gaza a month ago is alive and well, the British Broadcasting Corporation's director-general said on Thursday.
Published 13 Apr, 2007 12:00am
Turkey's next president must be secularist: army boss

Turkey's next president must be secularist: army boss

The head of Turkey's powerful military General Staff said on Thursday the country's next president must uphold secular values but stressed that the final decision rests with parliament.
Published 13 Apr, 2007 12:00am
Sacked North Korean premier fell foul of army: analysts

Sacked North Korean premier fell foul of army: analysts

North Korea's sacked premier, who was an advocate of economic reform in the impoverished state, appears to have been pushed from office in a conflict with the powerful military and ruling party, analysts said on Thursday.
Published 13 Apr, 2007 12:00am
China suggests North Korea funds issue not resolved

China suggests North Korea funds issue not resolved

China suggested on Thursday the release of North Korean funds blocked in a Macau bank, the trigger for Pyongyang to start shutting a nuclear reactor, was still not quite resolved, but the United States said it was.
Published 13 Apr, 2007 12:00am
Syrian emigre prods Israel over private peace plan

Syrian emigre prods Israel over private peace plan

A Syrian-American businessman who drafted an informal plan for peace with Israel urged the Israeli government on Thursday to drop preconditions and hold talks with Damascus. "Syria is very lucky to have President Bashar Assad leading it now, because he wa
Published 13 Apr, 2007 12:00am
Norway to resume direct aid to Palestinian government

Norway to resume direct aid to Palestinian government

Norway, the only Western country to normalise ties with the new Palestinian government, said Thursday it was ready to resume direct aid to the Palestinian Authority. The announcement once again set the country apart from the EU and US on Middle East polic
Published 13 Apr, 2007 12:00am
American writer Kurt Vonnegut dies at 84

American writer Kurt Vonnegut dies at 84

American novelist Kurt Vonnegut, whose dark, satirical vision in works including "Slaughterhouse-Five" and "Cat's Cradle" was shaped by the horrors he witnessed during World War II, has died at age 84. Vonnegut died on Wednesday after suffering brain inju
Published 13 Apr, 2007 12:00am
Italy suggests Nato and UN guidelines on ransoms

Italy suggests Nato and UN guidelines on ransoms

Italy, criticised over a prisoner swap with the Taliban last month, said on Thursday Nato and the United Nations should consider guidelines about appropriate ways to respond in hostage crises. Addressing parliament, Foreign Minister Massimo D'Alema defend
Published 13 Apr, 2007 12:00am
Iran at starting stage of nuclear enrichment: ElBaradei

Iran at starting stage of nuclear enrichment: ElBaradei

The head of the UN atomic watchdog said on Thursday that Iran was still at the starting stage of creating a uranium enrichment plant and that concerns stemmed more from its motivations than the scale of production.
Published 13 Apr, 2007 12:00am
Gulf states nuclear ambitions to take years: IAEA

Gulf states nuclear ambitions to take years: IAEA

Arab Gulf states may need a decade or more to train experts and carry out studies before they can develop nuclear energy, the head of the UN atomic watchdog said on Thursday. The Gulf Cooperation Council (GCC) and the International Atomic Energy Agency (I
Published 13 Apr, 2007 12:00am
Thai King pardons Swiss jailed for royal insult

Thai King pardons Swiss jailed for royal insult

Thailand's King Bhumibol Adulyadej has pardoned a Swiss man jailed for 10 years for defacing pictures of the revered monarch on his birthday, prison chief Chuchart Chailert said on Thursday.
Published 13 Apr, 2007 12:00am
India successfully tests Agni-III missile

India successfully tests Agni-III missile

India announced on Thursday a successful test firing of a nuclear-capable intermediate-range ballistic missile than can reach the Chinese cities of Beijing and Shanghai. The Agni-III missile was launched from Wheeler Island, 180 kilometres (110 miles) nor
Published 13 Apr, 2007 12:00am
Mass grave found in northeast Afghanistan

Mass grave found in northeast Afghanistan

The bodies of hundreds of Afghan civilians killed during communist rule have been uncovered in a mass grave in north-eastern Afghanistan, officials and witnesses said on Thursday. The grave is in desert just outside the town of Faizabad, provincial capita
Published 13 Apr, 2007 12:00am
Saudi comments on Iraq still a puzzle to US

Saudi comments on Iraq still a puzzle to US

Two weeks after long-time ally Saudi King Abdullah rebuked the United States for the Iraq war, the bush administration still has not received a satisfactory explanation of the unusual public criticism.
Published 13 Apr, 2007 12:00am
East Timor election body rejects call for recount

East Timor election body rejects call for recount

East Timor's election commission rejected on Thursday calls for a vote recount as the tiny nation looked set for a presidential run-off between Prime Minister Jose Ramos-Horta and the ruling Fretilin Party's candidate.
Published 13 Apr, 2007 12:00am
Hasina to stay abroad pending murder charge

Hasina to stay abroad pending murder charge

Former Bangladeshi leader Sheikh Hasina will extend her stay in the United States indefinitely over concerns about murder charges brought against her, party officials said on Thursday.
Published 13 Apr, 2007 12:00am
Bangladesh head expects polls by end of 2008

Bangladesh head expects polls by end of 2008

The head of Bangladesh's military-backed government said Thursday he expected to stage elections by the end of 2008 and hand over power afterwards. "I firmly believe the much awaited parliamentary elections can be held before the end of 2008," Fakhruddin
Published 13 Apr, 2007 12:00am
Turkish army chief calls for operation in Northern Iraq

Turkish army chief calls for operation in Northern Iraq

Turkey's top general called on Thursday for a military operation in northern Iraq to quash Turkish Kurdish rebels hiding there, annoying the United States and Iraqi Kurds. But General Yasar Buyukanit, head of Turkey's powerful military General Staff, adde
Published 13 Apr, 2007 12:00am
Tigers kill seven civilians

Tigers kill seven civilians

Sri Lanka's military said on Thursday gunmen who appeared to be Tamil Tiger rebels charged into a village firing wildly, killing six women and one man. "They were firing indiscriminately and, due to that, there were seven civilians killed," said Lieutenan
Published 13 Apr, 2007 12:00am
EU assembly panel backs roaming caps for all

EU assembly panel backs roaming caps for all

A European Parliament committee backed plans to cap mobile phone roaming charges in the EU on Thursday but called for a lower level than one agreed by a different committee. The Industry Committee also called for the capped rate to be automatic.
Published 13 Apr, 2007 12:00am
Indian rupee weakens

Indian rupee weakens

The Indian rupee ended weaker on Thursday on last-minute dollar demand from oil refiners, who bought the US unit to fund fresh crude imports. However, it recovered much of the day's losses after banks sold dollars as they braced for higher statutory reser
Published 13 Apr, 2007 12:00am
Sterling rises against dollar

Sterling rises against dollar

Sterling rose towards last week's 2-1/2 month high versus a broadly weaker dollar on Thursday, in part buoyed by a robust British house price survey. However the pound slipped versus the euro, which gained across the board as the European Central Bank rei
Published 13 Apr, 2007 12:00am
Euro hits peaks versus yen and dollar

Euro hits peaks versus yen and dollar

The euro hit all-time highs versus the yen and a 2-year peak against the dollar on Thursday, as investors looked to the European Central Bank to signal another rate hike soon after it held them steady this month.
Published 13 Apr, 2007 12:00am
Yukos auctions spur record rouble-dollar volumes

Yukos auctions spur record rouble-dollar volumes

Volumes on Russia's currency market hit a record $9 billion on Thursday with traders reporting major dollar selling, possibly linked to auctions of assets in bankrupt oil firm Yukos.
Published 13 Apr, 2007 12:00am
Seoul shares remain at record high

Seoul shares remain at record high

Seoul shares set their seventh consecutive record on Thursday as shipbuilders gained on new orders, while retailers rose after the central bank governor said domestic demand was looking better than expected.
Published 13 Apr, 2007 12:00am
US Stocks: Thursday's late afternoon trade

US Stocks: Thursday's late afternoon trade

US stocks rose on Thursday as strong retail sales data relieved fears about consumer spending and corporate deal activity in the biotech sector boosted shares. The market opened lower after some retail stores warned that April sales could slow.
Published 13 Apr, 2007 12:00am
Bonds: Sainsbury CDS rally further

Bonds: Sainsbury CDS rally further

Credit default swaps on retailer J Sainsbury Plc continued to tighten early on Thursday after Wednesday's collapse of the potential private equity bid for the company.
Published 13 Apr, 2007 12:00am
Bonds: Sainsbury CDS rally further

Bonds: Sainsbury CDS rally further

Credit default swaps on retailer J Sainsbury Plc continued to tighten early on Thursday after Wednesday's collapse of the potential private equity bid for the company.
Published 13 Apr, 2007 12:00am
Chinese stock index rises

Chinese stock index rises

Chinese main stock index rose 1 percent on Thursday in its ninth straight day of gains, though steel plays gave back Wednesday's jump and analysts said the market was increasingly vulnerable to any negative news. The Shanghai Composite Index closed up 1.0
Published 13 Apr, 2007 12:00am
FTSE helped by US rally

FTSE helped by US rally

Britain's top share index closed little changed on Thursday, as shares regained some ground in tandem with their US counterparts, but real estate and mining stocks weighed. Britain's FTSE 100 index closed up 0.05 percent at 6,416.4 after being in the red
Published 13 Apr, 2007 12:00am
India to import 1.5 million tonnes of pulses

India to import 1.5 million tonnes of pulses

India plans to import 1.5 million tonnes of pulses and procure adequate wheat from farmers to boost supplies and moderate prices of food items, a minister said on Thursday.
Published 13 Apr, 2007 12:00am
Asia holds key to copper's demand-driven rally

Asia holds key to copper's demand-driven rally

Copper's recent price surge may stop short of all-time highs posted in 2006, but much depends on demand from emerging markets like China and India. The most notable difference between the two rallies has been a shift in the market's fundamental backdrop -
Published 13 Apr, 2007 12:00am
Oil jumps three percent on US gasoline worries

Oil jumps three percent on US gasoline worries

Oil surged 3 percent on Thursday as a rash of refinery problems in the United States raised fears of a gasoline supply crunch when drivers hit the roads this summer. Adding to gains, the International Energy Agency said Opec has tightened output too much,
Published 13 Apr, 2007 12:00am
Massive surplus to depress sugar prices: ISO

Massive surplus to depress sugar prices: ISO

World sugar prices are likely to fall further this year as surplus availability is seen more than doubling to 8.5 million tonnes, the chief executive of the International Sugar Organisation said on Thursday.
Published 13 Apr, 2007 12:00am
New York cotton closes at four-month low

New York cotton closes at four-month low

Cotton futures sagged from switch trade and speculative sales to end on Thursday at a four-month trough and the market could see further pressure from switch trade in the days ahead, brokers said. The New York Board of Trade's May cotton contract fell 0.7
Published 13 Apr, 2007 12:00am
Sugar near 5-1/2 week high

Sugar near 5-1/2 week high

London white sugar futures closed near a 5-1/2-week peak on Thursday, boosted by structural trades before the expiry of the front-month contract on Friday.
Published 13 Apr, 2007 12:00am
Copper retreats

Copper retreats

Signs of strong demand and dwindling stockpiles plus worries about possible supply disruptions in Chile carried copper prices to a fresh seven-month high on Thursday, analysts said. But later in the session when it was known that production in Chile had n
Published 13 Apr, 2007 12:00am
Palladium and platinum rally to fresh highs

Palladium and platinum rally to fresh highs

Palladium climbed to a new 11-month peak on Thursday and platinum touched its highest in nearly five months, buoyed by technical buying and positive momentum in the market.
Published 13 Apr, 2007 12:00am
US MIDDAY: wheat declines

US MIDDAY: wheat declines

Wheat futures on the Chicago Board of Trade fell to the day's lows at midsession on Thursday, pressured by spillover from steep declines in corn futures, traders said. At the Minneapolis Grain Exchange, funds had sold about 1,000 spring wheat contracts, a
Published 13 Apr, 2007 12:00am
US MIDDAY: corn falls

US MIDDAY: corn falls

Corn futures at the Chicago Board of Trade dropped 2 percent early on Thursday on outlooks for improved corn seeding weather in the US Midwest, traders said. At 10:03 am CDT (1503 GMT), CBOT corn was down 3 to 7-1/2 cents per bushel, with May down 7 at $3
Published 13 Apr, 2007 12:00am
US MIDDAY: soyabeans sink

US MIDDAY: soyabeans sink

Soyabean futures at the Chicago Board of Trade continued to sink early on Thursday, pressured by technical sales, traders said. Sell-stops were triggered in May in the $7.40-$7.39-1/2 range. After that, selling accelerated with the weakness in corn weighi
Published 13 Apr, 2007 12:00am
US MIDDAY: copper springs back

US MIDDAY: copper springs back

US copper futures shied away from a new 11-month high in early trade on Thursday as the market paused following a two-month rally that saw prices climb over 50 percent, traders said.
Published 13 Apr, 2007 12:00am
US MIDDAY: gold futures ease

US MIDDAY: gold futures ease

US gold futures eased early Thursday in quiet trade, ignoring higher oil and a weaker dollar, while technical-momentum buying lifted palladium contracts higher.
Published 13 Apr, 2007 12:00am
Sindh sports minister praised

Sindh sports minister praised

The Secretary General, Pakistan Sportsmen Welfare Association and Pakistan Sports Writers Academy, Manzoor Ali Arif, while appreciating the arrangements made for the 30th National Games, has said that Sindh Sports Minister Qamar Mansoor has proved his wor
Published 13 Apr, 2007 12:00am
Sports at Punjab University College of Pharmacy

Sports at Punjab University College of Pharmacy

Professor Dr Muhammad Jamshaid, Dean and Principal, University College of Pharmacy inaugurated the sports festival in his department on Wednesday. The students took active part in the 'tug and war' competition. In the event, the students of foreign countr
Published 13 Apr, 2007 12:00am
Nigerian woman deported to Dubai

Nigerian woman deported to Dubai

The Federal Investigation Agency (FIA), Immigration, on Wednesday deported to Dubai a Nigerian national woman, travelling on fake Pakistani visa. Woman Nelly presented her passport No A- 3477416A at immigration clearance counter to Immigration Officer Sar
Published 13 Apr, 2007 12:00am
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