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Print - 2007-05-17
Latest ZRG achievements: delivering success to Contact Centers

Latest ZRG achievements: delivering success to Contact Centers

ZRG International is an IT & Telecom solutions and system integration company that specialises in the area of Telephony, CTI and Contact Centers. ZRG has helped organisations increase customer satisfaction and revenues by improving business communication
Published 17 May, 2007 12:00am
Key regulatory concerns for NGN deployment

Key regulatory concerns for NGN deployment

Telecommunication has evolved from wireline technology to mobile communication and is now spearheading towards bigger pastures of convergence and Next Generation Networks (NGN). Convergence is harbinger of colossal change.
Published 17 May, 2007 12:00am
Message from Chairman Pakistan Telecommunication Authority

Message from Chairman Pakistan Telecommunication Authority

I am pleased to know that Business Recorder is bringing out a special issue on the occasion of World Telecom Day. The preceding year has been yet another landmark in terms of phenomenal growth witnessed in the telecom sector of the country along wi
Published 17 May, 2007 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 154,630 tonnes cargo including 136,285 tonnes import, 18,345 tonnes export cargo and 4,233 containers (TEUs) during last 48 hours ending at 0700 hours on Wednesday.
Published 17 May, 2007 12:00am
UK wheat exports running below last season

UK wheat exports running below last season

UK wheat exports picked up in March but are still running 9.7 percent below last year, customs data showed on Wednesday. Grain exporters shipped 219,341 tonnes of wheat overseas in March, up from 164,866 tonnes in February. Wheat exports for July-March (2
Published 17 May, 2007 12:00am
FOB Gulf corn climbs on tight supplies

FOB Gulf corn climbs on tight supplies

US FOB Gulf corn export premiums climbed higher on Tuesday, following a rise in interior prices amid a lack of farmer selling, while soyabeans held steady, traders said. Wheat basis offers had a firm tone amid a new tender from Iraq and talk that India ma
Published 17 May, 2007 12:00am
Jordan buys 100,000 tonnes feed barley

Jordan buys 100,000 tonnes feed barley

Jordan's state grains buyer has bought 100,000 tonnes of feed barley in a tender for the same amount that closed on Wednesday, European traders said. The price was said to be $259.50 a tonne C&F for 50,000 tonnes for shipment in the first half of June and
Published 17 May, 2007 12:00am
US Plains HRW wheat bids steady

US Plains HRW wheat bids steady

US Plains hard red winter wheat basis bids held steady Wednesday morning as wheat merchants awaited the kick-off of active harvest. Limited test cutting was noted in south-west Oklahoma but moisture content was "sky high," indicating the crop there was no
Published 17 May, 2007 12:00am
US Midwest corn bids firm, soyabean up

US Midwest corn bids firm, soyabean up

Spot basis bids for corn firmed around the US Midwest on Tuesday as grain dealers at processors and elevators tried to boost supplies. River bids for corn strengthened due to demand from domestic feed producers and ethanol plants.
Published 17 May, 2007 12:00am
WCE canola futures down

WCE canola futures down

Winnipeg Commodity Exchange canola futures struggled relative to allied oilseeds on Tuesday because of the strong Canadian dollar, limited export business and steady farmer selling, traders said. Canola ended 70 cents to $1.80 per tonne lower, with July d
Published 17 May, 2007 12:00am
Kenyan tea prices mixed, quantity up

Kenyan tea prices mixed, quantity up

Kenyan tea prices were mixed at this week's auction, with some easing on quality despite good demand, brokers said on Wednesday. Mombasa-based Africa Tea Brokers (ATB) said 150,179 packages were offered for sale compared with 143,715 last week.
Published 17 May, 2007 12:00am
CBOT wheat rallies to close higher

CBOT wheat rallies to close higher

Soft red winter wheat futures at the Chicago Board of Trade closed higher on Tuesday, rallying from early declines on a weather-related surge in the corn market, traders said. "We were definitely a follower today," one wheat trader said.
Published 17 May, 2007 12:00am
CBOT corn futures up

CBOT corn futures up

Corn futures at the Chicago Board of Trade closed 2 percent higher on Tuesday on fresh weather worries in the United States and China, traders said. CBOT corn closed 1-1/4 to 8-1/4 cents per bushel higher, with July up 8-1/4 at $3.71-1/2 per bushel. Fund
Published 17 May, 2007 12:00am
Oil cake market rates

Oil cake market rates

Mixed trend was seen on the forward cottonseed oilcake market on Wednesday as buyers were active to meet their near-term demand, dealers said. The May vaida opened Rs 2.00 down at Rs 643.50 and that proved to be day's lowest at the same level.
Published 17 May, 2007 12:00am
A few deals materialised on cotton market

A few deals materialised on cotton market

Modest trade was seen on the cotton market on Wednesday as ginners tried to dispose off the unsold stock at the prevailing price levels, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 2675, without upcountry expe
Published 17 May, 2007 12:00am
Nigeria April cocoa arrivals drop

Nigeria April cocoa arrivals drop

Cocoa arrivals in the port city of Lagos, Nigeria's main export route, declined by 53 percent against last year to 4,000 tonnes in April, an average of estimates by exporters showed on Wednesday. The sharp decline is in line with the trend since October w
Published 17 May, 2007 12:00am
Prices almost stay put on grain market

Prices almost stay put on grain market

Firm trend was witnessed on the grain market on Wednesday as most of the commodities maintained the overnight levels in process of trading, dealers said. On the cereal side wheat Mexipak new and old types picked up Rs 5 to Rs 1190-1205, respectively.
Published 17 May, 2007 12:00am
MGE wheat higher

MGE wheat higher

Spring wheat futures at the Minneapolis Grain Exchange closed higher in thin volume on Tuesday, rallying from declines as Chicago Board of Trade corn and wheat climbed, traders said. July spring wheat settled 2-1/2 cents higher at $5.23-3/4 per bushel, wi
Published 17 May, 2007 12:00am
New York coffee gains

New York coffee gains

US arabica coffee futures closed mildly higher ON Tuesday on technical buying as London robust futures shot higher, though origin selling capped stronger gains here, traders said. "With the arbitrage having narrowed as tightly as it has, there's some natu
Published 17 May, 2007 12:00am
New York cocoa falls

New York cocoa falls

US cocoa futures closed lower on Tuesday, with pressure from light long-liquidation and continued rain in the West African cocoa belt pushing prices to a one-week low, dealers said. "It looks like we're just getting a little bit of a correction from the m
Published 17 May, 2007 12:00am
Indonesian palm oil higher

Indonesian palm oil higher

Indonesian palm oil prices were higher on Wednesday, tracking gains in the Malaysian market, but a government move to lower local cooking oil prices continued to dampen trading interest. In Jakarta, the state marketing centre sold 2,000 tonnes of crude pa
Published 17 May, 2007 12:00am
US copper futures recover

US copper futures recover

US copper futures ended up more than 1 percent on Tuesday, rebounding from the previous session's 3 percent losses, as better-than-expected Chinese import statistics and tame US inflationary data were seen fuelling the upside interest, analysts said.
Published 17 May, 2007 12:00am
Gold ends steady in Asia

Gold ends steady in Asia

Gold held steady above $672 an ounce on Wednesday, while Tokyo futures rebounded after being hit by profit-taking the previous day. Spot gold was at $672.90/673.60 ounce, slightly higher than $672.30/672.80 late in New York on Tuesday, when it gained more
Published 17 May, 2007 12:00am
US gold up in choppy trade

US gold up in choppy trade

US gold futures turned to finish higher in choppy trade on Tuesday, helped by a lower-than-expected rise in consumer prices in April, a weaker dollar and higher crude oil prices. Most-active gold for June delivery on the Comex division of the New York Mer
Published 17 May, 2007 12:00am
Tokyo gold and platinum recover

Tokyo gold and platinum recover

Tokyo gold futures edged up on Wednesday, reversing the previous day's falls as investors viewed the recent weakness in the dollar and favourable technical as supportive of gold. Platinum futures also wiped off the previous day's losses and neared a recor
Published 17 May, 2007 12:00am
Malaysian tin rises

Malaysian tin rises

Malaysian tin rose 1.3 percent on Wednesday supported by higher prices on the London Metal Exchange and foreign buying, one dealer said.
Published 17 May, 2007 12:00am
India's wheat buying picks up

India's wheat buying picks up

The Indian government has bought around 9.6 million tonnes of new season wheat from farmers as market arrivals pick up, raising hopes it can build healthy buffer stocks from domestic grain purchases.
Published 17 May, 2007 12:00am
Oil eases, near $68

Oil eases, near $68

Oil slipped on Wednesday ahead of data expected to show rises in US crude and fuel inventories, but Brent prices held near $68 after a rally on further supply disruptions in the world's eighth largest exporter Nigeria.
Published 17 May, 2007 12:00am
FAO ups 2007 world coarse grain output forecast

FAO ups 2007 world coarse grain output forecast

World coarse grains output is expected to hit a record high of 1,051 million tonnes in 2007, driven by demand for maize from the energy sector, the UN Food and Agriculture Organisation said, revising previous forecasts.
Published 17 May, 2007 12:00am
Shanghai copper down

Shanghai copper down

Shanghai copper edged down on Wednesday, after falling by its daily limit on Tuesday on stronger-than-expected Chinese import data. Shanghai August copper fell 0.1 percent, or 60 yuan, to 66,880 yuan ($8,708) a tonne at Wednesday's noon break.
Published 17 May, 2007 12:00am
New York sugar lower

New York sugar lower

Raw sugar prices plunged to its lowest level since 2005 on Tuesday as the burden of a supply glut deflated the sweetener and the market could see more losses in the weeks ahead, analysts said. The New York Board of Trade's July raw sugar contract sank 0.4
Published 17 May, 2007 12:00am
Vietnam rice prices stable

Vietnam rice prices stable

Vietnamese rice export prices have held at high levels in the past week thanks to demand in Southeast Asia and Africa, traders said on Wednesday. They said trading firms were seeking low grade 15-percent and 25-percent broken rice to sell to African count
Published 17 May, 2007 12:00am
Soyabean futures climb

Soyabean futures climb

soyabeans futures at the Chicago Board of Trade rallied 1 percent on Tuesday on active seeding of the US corn crop that led to ideas for fewer soya acres this year, traders said. A declining dollar and a rally in the Brazilian real to above the $2.00 leve
Published 17 May, 2007 12:00am
CBoT rice closes steady

CBoT rice closes steady

Chicago Board of Trade rough rice futures closed steady to lower on Tuesday in very thin volume, traders said. July rice ended 1 cent lower at $10.49 per hundredweight. Deferred months settled unchanged, with new-crop November at $11.11. A floor source es
Published 17 May, 2007 12:00am
Tokyo rubber futures gain

Tokyo rubber futures gain

Tokyo rubber futures rose almost two percent on Wednesday as firmness in other commodities such as crude oil induced short-covering, and after contracts held above a closely watched technical level.
Published 17 May, 2007 12:00am
Malaysian palm oil posts gains

Malaysian palm oil posts gains

Malaysian crude palm futures closed 1.2 percent higher on Wednesday, supported by strong soyaoil prices and fresh buying. Traders said the market was expected to remain higher due to tight supplies and strong export demand. The benchmark August contract f
Published 17 May, 2007 12:00am
EU executive warns countries over cycle team bans

EU executive warns countries over cycle team bans

The European Commission has issued warnings to Belgium, France and Italy over action against their cycling teams because of connections to betting, according to a spokesman and others. The Commission expressed concern that Belgium was banning cycling team
Published 17 May, 2007 12:00am
Credit Agricole first quarter profit below consensus

Credit Agricole first quarter profit below consensus

Credit Agricole, France's biggest retail bank, reported a 92 percent rise in first-quarter net profit but its shares slid on Wednesday as the earnings came in below the average market forecast.
Published 17 May, 2007 12:00am
Credit Agricole first quarter profit below consensus

Credit Agricole first quarter profit below consensus

Credit Agricole, France's biggest retail bank, reported a 92 percent rise in first-quarter net profit but its shares slid on Wednesday as the earnings came in below the average market forecast.
Published 17 May, 2007 12:00am
Sinopec building more than 100 oil tanks

Sinopec building more than 100 oil tanks

China's Sinopec Group, the largest refiner in Asia, is building more than 100 large oil tanks to increase its commercial storage capacity, the government said.
Published 17 May, 2007 12:00am
Remittances rescue Sri Lanka's balance of payments

Remittances rescue Sri Lanka's balance of payments

Sri Lanka recorded a trade deficit of 659.5 million dollars in the first quarter, but foreign remittances pushed the overall balance of payments into positive territory, the central bank said Wednesday.
Published 17 May, 2007 12:00am
Australian consumer sentiment at record high

Australian consumer sentiment at record high

Australian consumer sentiment has reached an all-time high in the wake of this month's big-spending budget, according to a survey released Wednesday. The Westpac Melbourne Institute Index of consumer sentiment, which rose 7.5 percent to a record 123.9 poi
Published 17 May, 2007 12:00am
Good jobs, growth outlook greets France's Sarkozy

Good jobs, growth outlook greets France's Sarkozy

Favourable economic news landed just before France's Nicolas Sarkozy was sworn in as president, with the French private sector adding jobs at the fastest rate in six years and growth seen picking up in the second quarter.
Published 17 May, 2007 12:00am
Hitachi posts net loss

Hitachi posts net loss

Japanese high-tech giant Hitachi Ltd said Wednesday it slumped deep into the red in the last financial year, pressured by falling electronics prices and the cost of repairing faulty turbines. But the company said the slump was a one-off and less severe th
Published 17 May, 2007 12:00am
Hitachi posts net loss

Hitachi posts net loss

Japanese high-tech giant Hitachi Ltd said Wednesday it slumped deep into the red in the last financial year, pressured by falling electronics prices and the cost of repairing faulty turbines. But the company said the slump was a one-off and less severe th
Published 17 May, 2007 12:00am
Sony posts wider loss in fourth quarter

Sony posts wider loss in fourth quarter

Sony Corp posted a wider quarterly loss on Wednesday due to deficits in its PlayStation game unit, but forecast a sharp rise in annual profit on strong sales of flat-screen TVs and digital cameras.
Published 17 May, 2007 12:00am
Sony posts wider loss in fourth quarter

Sony posts wider loss in fourth quarter

Sony Corp posted a wider quarterly loss on Wednesday due to deficits in its PlayStation game unit, but forecast a sharp rise in annual profit on strong sales of flat-screen TVs and digital cameras.
Published 17 May, 2007 12:00am
China's industrial output up

China's industrial output up

China's industrial output grew 17.4 percent in April compared with the same month last year, boosted by continued strong global demand for Chinese products, official data showed Wednesday. In the first four months of 2007, industrial production rose 18 pe
Published 17 May, 2007 12:00am
US home building to slow, factory activity up

US home building to slow, factory activity up

Prospects for US home building look dim but the nation's manufacturing sector is showing some signs of a pickup, data on Wednesday showed. The Commerce Department reported US home construction unexpectedly rose last month but permits for future building s
Published 17 May, 2007 12:00am
Eurozone inflation at ECB target, rate hikes seen

Eurozone inflation at ECB target, rate hikes seen

Eurozone inflation in April came in higher than initially estimated but still within the European Central Bank's target, data showed, pointing to subdued price-growth pressures despite robust economic expansion.
Published 17 May, 2007 12:00am
Obey or quit, Venezuela's minister tells oil firms

Obey or quit, Venezuela's minister tells oil firms

Venezuela has every right to take control of its energy resources and international companies which do not accept the country's terms should leave, Venezuelan Deputy Energy Minister Bernard Mommer said.
Published 17 May, 2007 12:00am
LSE annual profit jumps 55 percent

LSE annual profit jumps 55 percent

The London Stock Exchange, which has fought off four takeover attempts in two years, beat average forecasts with a 55 percent rise in annual profits on the back of strong trading volumes and cost cuts.
Published 17 May, 2007 12:00am
India and US see progress in delayed trade talks

India and US see progress in delayed trade talks

Progress is being made towards a global trade deal, India and the United States said on Wednesday as trade powers prepared a new push for a breakthrough in the long-delayed negotiations.
Published 17 May, 2007 12:00am
UniCredit, Capitalia set to create European bank giant

UniCredit, Capitalia set to create European bank giant

Italian bank UniCredit and smaller rival Capitalia look poised to create Europe's second-largest bank worth around $135 billion after confirming they are in merger talks. The two lenders confirmed a potential tie-up was in the works late on Tuesday after
Published 17 May, 2007 12:00am
UniCredit, Capitalia set to create European bank giant

UniCredit, Capitalia set to create European bank giant

Italian bank UniCredit and smaller rival Capitalia look poised to create Europe's second-largest bank worth around $135 billion after confirming they are in merger talks. The two lenders confirmed a potential tie-up was in the works late on Tuesday after
Published 17 May, 2007 12:00am
EU defends Galileo satellite project, seeks funds

EU defends Galileo satellite project, seeks funds

The European Commission admitted on Wednesday mistakes in handling the Galileo satellite navigation system, but insisted the project was vital and sought 2.4 billion euros ($3.3 billion) in public funds to complete it.
Published 17 May, 2007 12:00am
Taiwan stocks rally

Taiwan stocks rally

Taiwan stocks rose 0.17 percent in light trading on Wednesday, paced by gains in AU Optronics Corp after it said it expected to return to profitability this quarter and predicted an LCD shortage in the third quarter.
Published 17 May, 2007 12:00am
Chinese stocks rise 2.2 percent

Chinese stocks rise 2.2 percent

China's main stock index climbed 2.23 percent on Wednesday, regaining its footing after a 3.64 percent tumble the day before, as investors snapped up blue chip and second-tier shares at their new, lower levels.
Published 17 May, 2007 12:00am
Hong Kong shares jump

Hong Kong shares jump

Hong Kong blue chips climbed 0.3 percent and China plays gained 0.5 percent on Wednesday, as a rally in mainland-listed stocks prompted investors to buy China Life and other large-cap Chinese benchmark stocks.
Published 17 May, 2007 12:00am
Dow closes at record on stable inflation

Dow closes at record on stable inflation

The Dow industrials rose to a record high close on Tuesday, as signs of stabilising inflation raised the prospect of lower interest rates, boosting the outlook for business investment. But the Dow ended well off its highs of the day and the S&P 500 index
Published 17 May, 2007 12:00am
Thai shares close 1.18 percent firmer

Thai shares close 1.18 percent firmer

Thai share prices closed 1.18 percent higher on Wednesday as foreign investors chased gains in communication and energy linked stocks on bargain hunting, dealers said. They said sentiment was upbeat due to a regional gain, which followed a new record high
Published 17 May, 2007 12:00am
US Treasury prices finish lower

US Treasury prices finish lower

US Treasury prices dipped on Tuesday as a record-setting stock market drew investors away from bonds despite benign inflation data. Stock prices gave up some gains late in the session, allowing government debt to claw back some of its losses, but the inve
Published 17 May, 2007 12:00am
US Treasury prices finish lower

US Treasury prices finish lower

US Treasury prices dipped on Tuesday as a record-setting stock market drew investors away from bonds despite benign inflation data. Stock prices gave up some gains late in the session, allowing government debt to claw back some of its losses, but the inve
Published 17 May, 2007 12:00am
Malaysian stocks climb

Malaysian stocks climb

Malaysian share prices closed 0.47 percent higher on Wednesday on a technical rebound, dealers said. They said stocks linked to the Iskandar Development Region (IDR) in the southern Johor state posted strong gains, after Singapore pledged to help Malaysia
Published 17 May, 2007 12:00am
Philippines shares close flat

Philippines shares close flat

Philippines share prices closed flat on Wednesday as investors chose to take profits after the market hit an all-time high, dealers said. They said the Philippine bourse has finally caught up with its regional peers, all of which have been smashing record
Published 17 May, 2007 12:00am
Singapore stocks edge to record high

Singapore stocks edge to record high

Singapore share prices edged to a new record high on Wednesday as stronger regional markets renewed buying interest, dealers said. The Straits Times Index finished up 26.09 points or 0.75 percent at a new closing high of 3,501.17, narrowly beating the pre
Published 17 May, 2007 12:00am
Nikkei ends up

Nikkei ends up

The Nikkei average edged up 0.09 percent on Wednesday as shares of Hitachi Ltd rebounded after the electronics conglomerate said it would return to profit this year, offsetting losses in Kajima Corp and other construction shares.
Published 17 May, 2007 12:00am
Jakarta shares surge

Jakarta shares surge

Indonesia share prices closed 1.27 percent higher on Wednesday with gains by banks helping to lift the main index to a new record high, dealers said. The Jakarta Stock Exchange composite index finished up 25.980 points at 2,063.763, beating the previous a
Published 17 May, 2007 12:00am
Swiss franc stuck near low

Swiss franc stuck near low

The Swiss franc hovered close to a fresh multi-year low against the euro on Wednesday, as investors stuck to risky positions such as carry trades. The franc remained under pressure, after falling to a new 8-1/2 year low on Tuesday, as rising global stocks
Published 17 May, 2007 12:00am
Yuan ends up versus dollar

Yuan ends up versus dollar

The yuan closed up against the dollar on Wednesday and is expected to rise at a quicker pace in the next week or two, influenced by politics as Chinese and US officials meet next week to discuss trade matters, dealers said.
Published 17 May, 2007 12:00am
Dollar steadies

Dollar steadies

The dollar steadied against the euro on Wednesday after falling on a report suggesting US inflation was well-contained, which backed the view that the Federal Reserve could cut interest rates this year. The euro extended gains to a fresh record high again
Published 17 May, 2007 12:00am
Dollar drops versus euro

Dollar drops versus euro

The dollar fell across the board on Tuesday after a report suggested US inflation was well contained in April, backing a view that the Federal Reserve will likely cut interest rates later this year. The euro's surge against the dollar also helped push it
Published 17 May, 2007 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Wednesday. 69.00/69.00 (previous 69.00/69.00). Call Money Rates: 6.10-10.00 percent (previous 7.20-10.00 percent.
Published 17 May, 2007 12:00am
Asian currencies: peso hits six-year high

Asian currencies: peso hits six-year high

The Philippine peso hit a fresh six-year high on Wednesday, boosted by news of strong remittances, while attention turned to the yuan ahead of a meeting between Chinese and US officials next week.
Published 17 May, 2007 12:00am
Lack of Tests will hurt Bangladesh, says Dravid

Lack of Tests will hurt Bangladesh, says Dravid

India skipper Rahul Dravid believes a lack of Test experience will be the undoing of Bangladesh in their upcoming series. The first of their two-Test series starts on Friday in Chittagong. India won a three-match one-day series 2-0 after the final game wa
Published 17 May, 2007 12:00am
Federer digs deep to reach Hamburg third round

Federer digs deep to reach Hamburg third round

Roger Federer had to work much harder than expected to dig out a 6-3 2-6 6-4 victory over Argentine qualifier Juan Monaco and reach the third round of the Hamburg Masters on Wednesday. The Swiss world number one started well but then saw his footwork dese
Published 17 May, 2007 12:00am
Shoaib Akhtar willing to play Asia, Africa series

Shoaib Akhtar willing to play Asia, Africa series

Pakistan fast bowler Shoaib Akhtar has made himself available for next month's one-day series between representative sides from Asia and Africa in India. Akhtar had said last week he was uncertain about making the series after being named in the Asian XI
Published 17 May, 2007 12:00am
Caretaker captain Strauss promises fresh start

Caretaker captain Strauss promises fresh start

England captain Andrew Strauss promised on Wednesday a fresh start after the traumas of the Australian campaign in the knowledge that his second stint as leader could last only one match.
Published 17 May, 2007 12:00am
Kuznetsova and Jankovic reach last 16 in Rome

Kuznetsova and Jankovic reach last 16 in Rome

Second seed Svetlana Kuznetsova eased into the last 16 of the Italian Open when she beat home favourite Mara Santangelo 6-3 6-3 on Wednesday. Serbian third seed Jelena Jankovic also progressed, coming back from a break down in each set to win 6-3 6-4 agai
Published 17 May, 2007 12:00am
West Indies lack of preparation worries Sarwan

West Indies lack of preparation worries Sarwan

West Indies captain Ramnaresh Sarwan admits the side's lack of preparation is a concern as they head into Thursday's first test against England here at Lord's. The tourists go into the opening match of a four-Test series with just 48 overs worth of match-
Published 17 May, 2007 12:00am
No nerves for new Pakistan

No nerves for new Pakistan

New Pakistan cricket captain Shoaib Malik Wednesday denied he would be nervous as he tries to rebuild his beleaguered side after a disastrous World Cup. Malik spoke ahead of Pakistan's departure on Wednesday night for Abu Dhabi for a three-match one-day i
Published 17 May, 2007 12:00am
Pakistan team completely fit, hopeful to gain confidence: Shoaib

Pakistan team completely fit, hopeful to gain confidence: Shoaib

All members of Pakistan cricket team are completely fit and hopefully the team would give its best performance in the series against Sri Lanka in Abu Dhabi series. This was stated by skipper of Pakistan cricket team Shoaib Malik while addressing a news co
Published 17 May, 2007 12:00am
Taiwan tests defences against China

Taiwan tests defences against China

Taiwan on Wednesday tested its defences in live-fire drills simulating an invasion by rival China as part of the island's biggest ever wargames, the defence ministry said.
Published 17 May, 2007 12:00am
Taiwan's premier, cabinet resign

Taiwan's premier, cabinet resign

Taiwan Premier Su Tseng-chang and his cabinet resigned en masse Wednesday, clearing the way for President Chen Shui-bian to reshuffle the administration. The resignation had been expected after Su announced at the weekend that he would quit following his
Published 17 May, 2007 12:00am
Arroyo claims win for her allies

Arroyo claims win for her allies

Philippine President Gloria Macapagal Arroyo claimed victory on Wednesday for her allies in congressional elections and predicted political stability despite some high-profile protest votes against her government.
Published 17 May, 2007 12:00am
Sri Lanka president shuns UK, US aid suspension

Sri Lanka president shuns UK, US aid suspension

Sri Lankan President Mahinda Rajapaksa on Wednesday defied moves by Britain and the United States to halt some aid to the island over human rights concerns, saying the state would go it alone if necessary.
Published 17 May, 2007 12:00am
Violence rages across Iraq, mortars hit Green Zone

Violence rages across Iraq, mortars hit Green Zone

Two people were killed in mortar attacks on Baghdad's heavily fortified Green Zone on Wednesday, the second serious attack in two days, as a search for three US soldiers held by al Qaeda south of the capital intensified.
Published 17 May, 2007 12:00am
Curtains go up as Cannes film festival turns 60

Curtains go up as Cannes film festival turns 60

Cannes Film Festival opens on Wednesday with a mix of arthouse movie making and raw star power fitting for cinema's greatest showcase, which turns 60 this year.
Published 17 May, 2007 12:00am
Embrace democracy, Syria's top dissident urges Assad

Embrace democracy, Syria's top dissident urges Assad

Syrian dissident Riad al-Turk urged President Bashar al-Assad on Wednesday to lead Syria on the path to democracy or face a political "earthquake" he said could shake Assad's firm hold on power. "The survival of any system is ultimately tied to support fr
Published 17 May, 2007 12:00am
US Senate votes against Iraq war withdrawal

US Senate votes against Iraq war withdrawal

The US Senate on Wednesday voted overwhelmingly against withdrawing all combat troops from Iraq by March 31 as a majority of senators embraced an alternative plan tying US reconstruction funds to Baghdad's progress in stabilising the country.
Published 17 May, 2007 12:00am
Four Ugandan peacekeepers killed in Somalia

Four Ugandan peacekeepers killed in Somalia

A remote-controlled bomb killed four Ugandan peacekeepers and a civilian in the Somali capital Mogadishu on Wednesday as Islamist militants followed through on a threat to wage an Iraq-style insurgency.
Published 17 May, 2007 12:00am
Nicolas Sarkozy takes over as France's president

Nicolas Sarkozy takes over as France's president

Nicolas Sarkozy succeeded Jacques Chirac as French president on Wednesday, promising to usher in an era of change while holding up wartime sacrifices as an inspiration for the new France he wants to build.
Published 17 May, 2007 12:00am
Indian rupee at nine-year closing high

Indian rupee at nine-year closing high

The Indian rupee recorded its highest close in nine years on Wednesday, as traders brushed off concerns over central bank intervention, and built fresh positions in the unit on expectations its rally would continue.
Published 17 May, 2007 12:00am
Pound falls versus euro and dollar

Pound falls versus euro and dollar

Sterling hit a two-month low versus the euro and fell against the dollar on Wednesday as the Bank of England's inflation report gave no confirmation that British interest rates would rise again. Before the report, data showed British average earnings grow
Published 17 May, 2007 12:00am
Euro scales record peak versus yen

Euro scales record peak versus yen

The euro hit new record highs versus the yen and Swiss franc on Wednesday supported by bullish expectations for euro area interest rates that raised the single currency's yield appeal.
Published 17 May, 2007 12:00am
European credit steadies

European credit steadies

European credit markets held firm on Wednesday, supported by upbeat factory activity data in the United States and some positive corporate earnings reports. The iTraxx Crossover index, viewed as a barometer for risk appetite, edged back to 199.5 basis poi
Published 17 May, 2007 12:00am
European credit steadies

European credit steadies

European credit markets held firm on Wednesday, supported by upbeat factory activity data in the United States and some positive corporate earnings reports. The iTraxx Crossover index, viewed as a barometer for risk appetite, edged back to 199.5 basis poi
Published 17 May, 2007 12:00am
Indian shares rise

Indian shares rise

Indian share prices rose 1.42 percent on Wednesday, crossing the key 14,000-point level on strong overseas fund buying, dealers said. They said there was good buying in mid-cap stocks while banking and capital goods stocks in particular gained. The benchm
Published 17 May, 2007 12:00am
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