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Nov 28, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2007-05-30
Oil cake market rates

Oil cake market rates

Downward trend was seen on the forward cottonseed oilcake market on Tuesday as many buyers kept on the sidelines on anticipation of further fall in the prices, dealers said. The December vaida commenced with 80 paisa loss at Rs 536.00 and closing was seen
Published 30 May, 2007 12:00am
BRIndex30 gains 74.06 points

BRIndex30 gains 74.06 points

On Tuesday, BRIndex30 opened in the green zone at 14,231.66. It closed at 14,278.17 with a net positive change of 74.06 points and percentage change of 0.52. It experienced intra-day high of 14,373.62 and intra-day low of 14,175.37 with volume of 292,928,
Published 30 May, 2007 12:00am
Activity picks up on cotton market

Activity picks up on cotton market

Steady trend was witnessed on the cotton market on Tuesday as some mills were active to cover their immediate needs at lower prices, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 2650, without upcountry expenses
Published 30 May, 2007 12:00am
BRIndex30 gains 74.06 points

BRIndex30 gains 74.06 points

On Tuesday, BRIndex30 opened in the green zone at 14,231.66. It closed at 14,278.17 with a net positive change of 74.06 points and percentage change of 0.52. It experienced intra-day high of 14,373.62 and intra-day low of 14,175.37 with volume of 292,928,
Published 30 May, 2007 12:00am
KSE-100 index down 13.78 points

KSE-100 index down 13.78 points

After witnessing a bullish trend during the last five consecutive sessions, making new records and gaining 547.86 points, the Karachi share market witnessed a technical correction on Tuesday as the KSE-100 index closed at 12,817.31 points level, down by 1
Published 30 May, 2007 12:00am
Mixed price pattern on grain market

Mixed price pattern on grain market

Prices moved both ways in the local grain market on Tuesday as most of the buyers made some fresh deal to meet their near-term needs, dealers said. On the rice sector Irri white (broken) gained Rs 25 to Rs 1400-1425, irri-6 Sindh quoted higher at Rs 1975-
Published 30 May, 2007 12:00am
KSE-100 index down 13.78 points

KSE-100 index down 13.78 points

After witnessing a bullish trend during the last five consecutive sessions, making new records and gaining 547.86 points, the Karachi share market witnessed a technical correction on Tuesday as the KSE-100 index closed at 12,817.31 points level, down by 1
Published 30 May, 2007 12:00am
Asian naphtha down

Asian naphtha down

Asian naphtha prices fell on Tuesday, hit by weaker crude futures but its premium against Brent hovered above $200, supported by a tight regional market caused by strong South Korean demand. The key-open-spec naphtha contract for first-half July fell to $
Published 30 May, 2007 12:00am
KSE-100 index down 13.78 points

KSE-100 index down 13.78 points

After witnessing a bullish trend during the last five consecutive sessions, making new records and gaining 547.86 points, the Karachi share market witnessed a technical correction on Tuesday as the KSE-100 index closed at 12,817.31 points level, down by 1
Published 30 May, 2007 12:00am
Steady flow of Brazil sugar to Black Sea

Steady flow of Brazil sugar to Black Sea

Brazilian raw sugar shipments to the Black Sea region are steady and about normal for this time of year despite a slow start to Brazil's centre-south sugar cane harvest, physical and freight trade sources said on Tuesday.
Published 30 May, 2007 12:00am
CSF basic deposit amount reduced

CSF basic deposit amount reduced

The Securities and Exchange Commission of Pakistan (SECP) has announced reduction in basic deposit from Rs 500,000 to Rs 250,000 payable by a broker for entering into Cash Settled Futures Contracts and reduction in cash deposit percentage, to 40 percent o
Published 30 May, 2007 12:00am
Indian refiners April output up

Indian refiners April output up

India's oil refinery throughput rose 15.1 percent in April from a year earlier as capacity rose and most units ran at higher rates to take advantage of rising global refining margins, government data showed on Tuesday.
Published 30 May, 2007 12:00am
CSF basic deposit amount reduced

CSF basic deposit amount reduced

The Securities and Exchange Commission of Pakistan (SECP) has announced reduction in basic deposit from Rs 500,000 to Rs 250,000 payable by a broker for entering into Cash Settled Futures Contracts and reduction in cash deposit percentage, to 40 percent o
Published 30 May, 2007 12:00am
To plant corn fast

To plant corn fast

For US farmers needing to plant a lot of corn and plant it fast, Rick Light has what they need -- monstrous machines that can sow 300 acres (120 hectares) in a day. The machines, costing $100,000 or more, are attracting attention this year because plantin
Published 30 May, 2007 12:00am
CSF basic deposit amount reduced

CSF basic deposit amount reduced

The Securities and Exchange Commission of Pakistan (SECP) has announced reduction in basic deposit from Rs 500,000 to Rs 250,000 payable by a broker for entering into Cash Settled Futures Contracts and reduction in cash deposit percentage, to 40 percent o
Published 30 May, 2007 12:00am
African wheat farmers may switch to maize after drought

African wheat farmers may switch to maize after drought

A severe drought may force South African wheat farmers to plant less this season, though some traders believe recent rains in the Western Cape could be enough to salvage the harvest. Many farmers may even opt to plant maize after a surge in prices for the
Published 30 May, 2007 12:00am
Cement prices again raised by Rs 10 per bag

Cement prices again raised by Rs 10 per bag

Cement prices have again been raised by Rs 10 per bag to Rs 260 in the wake of increasing international demand and low supply in the local market, dealers said on Tuesday. They said that cement companies are getting better price in the international marke
Published 30 May, 2007 12:00am
Cement prices again raised by Rs 10 per bag

Cement prices again raised by Rs 10 per bag

Cement prices have again been raised by Rs 10 per bag to Rs 260 in the wake of increasing international demand and low supply in the local market, dealers said on Tuesday. They said that cement companies are getting better price in the international marke
Published 30 May, 2007 12:00am
AB Foods buys Indian Food Company Patak's

AB Foods buys Indian Food Company Patak's

Associated British Foods Plc has agreed to buy Indian food company Patak's from its founding Pathak family in a deal which analysts say is likely worth around 105 million pounds ($208 million).
Published 30 May, 2007 12:00am
Cement prices again raised by Rs 10 per bag

Cement prices again raised by Rs 10 per bag

Cement prices have again been raised by Rs 10 per bag to Rs 260 in the wake of increasing international demand and low supply in the local market, dealers said on Tuesday. They said that cement companies are getting better price in the international marke
Published 30 May, 2007 12:00am
Asian oil product swap prices extend losses

Asian oil product swap prices extend losses

Asia oil product swaps prices extended their losses on Tuesday, in tandem with weaker crude futures, while naphtha's premium against crude futures edged up closer to its record-high. Prompt-month June naphtha swaps steadied at $77.50 a barrel, and the Jun
Published 30 May, 2007 12:00am
Japan to hold SBS wheat, barley tender on June 13

Japan to hold SBS wheat, barley tender on June 13

Japan's Agriculture Ministry will hold an import tender on June 13 for 33,000 tonnes of feed wheat and 317,000 tonnes of feed barley under the simultaneous buy and sell (SBS) system, a ministry official said on Tuesday. Shipment must be made between the t
Published 30 May, 2007 12:00am
China fuel oil imports from Thailand jump fourfold

China fuel oil imports from Thailand jump fourfold

Fuel oil exports from Thailand to China for refining, utility and bunkering have risen almost fourfold this year as price-sensitive buyers seek cheaper, more direct supplies due to rising prices, traders said on Tuesday.
Published 30 May, 2007 12:00am
South Africa imports rare white maize

South Africa imports rare white maize

South Africa imported 1,475 tonnes of white maize last week, the first time in years it has done so, data from the South African Grain Information Service showed on Tuesday. The shipment came from Zambia and Malawi, while exports of the staple totalled 4,
Published 30 May, 2007 12:00am
Carmakers may be declared as withholding tax agents

Carmakers may be declared as withholding tax agents

The government may declare assemblers/manufacturers of motor vehicles and motorcycles as withholding tax agents to bring the entire auto industry into tax net, Business Recorder learnt on Tuesday.
Published 30 May, 2007 12:00am
Indonesian palm oil up

Indonesian palm oil up

Indonesian palm oil prices extended a rally on Tuesday tracking gains in the neighbouring Malaysian market with buyers returning to the market before prices started rising further. In North Sumatra's Medan, crude palm oil prices rose nearly 5 percent to 7
Published 30 May, 2007 12:00am
Carmakers may be declared as withholding tax agents

Carmakers may be declared as withholding tax agents

The government may declare assemblers/manufacturers of motor vehicles and motorcycles as withholding tax agents to bring the entire auto industry into tax net, Business Recorder learnt on Tuesday.
Published 30 May, 2007 12:00am
Shanghai copper edges up

Shanghai copper edges up

Shanghai copper edged up on Tuesday after rising by its 4-percent limit in the previous session, but the market may ease due to haggardly physical prices. The most traded August copper ended at 63,910 yuan ($8,356), up 0.4 percent, or 260 yuan from Monday
Published 30 May, 2007 12:00am
Carmakers may be declared as withholding tax agents

Carmakers may be declared as withholding tax agents

The government may declare assemblers/manufacturers of motor vehicles and motorcycles as withholding tax agents to bring the entire auto industry into tax net, Business Recorder learnt on Tuesday.
Published 30 May, 2007 12:00am
Gold barely moves

Gold barely moves

Gold was little changed around $655 an ounce on Tuesday, with wary investors staying out of the market due to the dollar's recent strength and gains in stock markets. In Tokyo, gold futures failed to sustain gains and ended lower. Investors awaited the re
Published 30 May, 2007 12:00am
India may import 300,000 tonnes wheat

India may import 300,000 tonnes wheat

India is likely to start its 2007 wheat imports with a purchase of 300,000 tonnes and float more tenders to build a "strong buffer", a senior government official said on Tuesday. Government-owned State Trading Corp last month floated a tender for importin
Published 30 May, 2007 12:00am
Asian physical rubber prices

Asian physical rubber prices

Most Asian physial rubber prices remained high despite a fall on the Tokyo Commodity Exchange as limited physical supply provided support. Trading was expected to revive this week, with buyers in the United States and Europe back from a holiday and with t
Published 30 May, 2007 12:00am
One killed, seven hurt in blast outside Peshawar High Court

One killed, seven hurt in blast outside Peshawar High Court

One person died and seven were injured when a powerful bomb exploded in a car parked near Peshawar High Court and Nishtar Hall buildings here on Tuesday. After the incident the building of the Peshawar High Court was sealed off and court proceedings were
Published 30 May, 2007 12:00am
Oil rebounds on Nigeria

Oil rebounds on Nigeria

Oil prices rebounded on Tuesday to $70 a barrel in London on nagging concerns over Nigerian crude production at the start of peak gasoline demand in top consumer, the United States. London Brent crude was up 29 cents at $70.00 a barrel, after hitting $70.
Published 30 May, 2007 12:00am
One killed, seven hurt in blast outside Peshawar High Court

One killed, seven hurt in blast outside Peshawar High Court

One person died and seven were injured when a powerful bomb exploded in a car parked near Peshawar High Court and Nishtar Hall buildings here on Tuesday. After the incident the building of the Peshawar High Court was sealed off and court proceedings were
Published 30 May, 2007 12:00am
India has to boost grain output

India has to boost grain output

India has to boost production of wheat, rice, pulses and edible oils to check inflation and sustain high economic growth, Prime Minister Manmohan Singh said on Tuesday. Sluggish farm output has prevented India from achieving double-digit economic growth r
Published 30 May, 2007 12:00am
MMA caravan warmly received in Kasur

MMA caravan warmly received in Kasur

Muttahida Majlis-i-Amal (MMA) activists received the Tahaffuz-e-Pakistan Caravan warmly at Pattoki and Phoolnagar here on Tuesday. The caravan, led by Qazi Hussain Ahmad, Maulana Fazal-ur-Rehman, Professor Sajid Meer, Shah Anas Noorani, Allama Sajid Naqvi
Published 30 May, 2007 12:00am
Drought, low stocks to boost Russia new-crop grain

Drought, low stocks to boost Russia new-crop grain

New-crop wheat in Russia will start the season priced at least 15 percent higher than a year ago due to lower end-of-season stocks and scorching temperatures that are threatening the harvest, traders and analysts said.
Published 30 May, 2007 12:00am
FPCCI organising Pak participation in IITF

FPCCI organising Pak participation in IITF

FPCCI will organise Pakistan's participation in the 'India International Trade fair 2007' (IITF) scheduled to be held from November 14 to 27, 2007 at Pargati Madan, new Delhi. India Trade Promotion Organisation holds every year the India International Tra
Published 30 May, 2007 12:00am
Vietnam coffee continues to rise

Vietnam coffee continues to rise

Robust coffee prices in Vietnam extended recent gains this week on the back of dwindling domestic stocks, traders said on Tuesday. "It is very difficult to buy big volumes of beans now mainly because there is not much left and also partly because those wh
Published 30 May, 2007 12:00am
Ban on movement of political leaders challenged

Ban on movement of political leaders challenged

A member of the Lahore High Court Bar Association has approached the court with prayer to direct the respondent governments not to restrict the movement of the political leaders.
Published 30 May, 2007 12:00am
China Dalliance soyaoil, rapeseed oil up

China Dalliance soyaoil, rapeseed oil up

Most Dallied soyaoil futures extended their rise to end at all-time highs on Tuesday, helped by Malaysia palm oil futures that hit records due to tight supplies. Almost all contracts closed up on Tuesday, except for the most active September contract, whi
Published 30 May, 2007 12:00am
Tocom rubber at near two-week low

Tocom rubber at near two-week low

Tokyo rubber futures slipped to a near two-week low on Tuesday on a technical correction as players sold contracts after prices failed to break a key resistance of 300 yen. But TOCOM prices were expected to be supported by limited physical supply while de
Published 30 May, 2007 12:00am
Malaysian palm oil off record high

Malaysian palm oil off record high

Malaysian crude palm futures ended marginally higher on Tuesday as players booked profit after the market hit a high on bullish comments from a leading industry analyst. The benchmark August contract finished up 3 ringgit at 2,538 ringgit ($748) a tonne.
Published 30 May, 2007 12:00am
Swiss exports slow

Swiss exports slow

Switzerland's booming exports lost some steam in April, data showed on Tuesday, but signs of stronger consumer spending supported expectations of further interest rate rises in Switzerland.
Published 30 May, 2007 12:00am
Rs 520 billion PSDP, Rs one trillion revenue target finalised

Rs 520 billion PSDP, Rs one trillion revenue target finalised

After several hours consultations in more than one meetings on budgetary targets, the government on Tuesday finalised Rs 520 billion Public Sector Development Programme (PSDP) and Rs 1 trillion revenue target for 2007-8.
Published 30 May, 2007 12:00am
Chile jobless rate at lowest in nine years

Chile jobless rate at lowest in nine years

Chile's jobless rate in February-April fell to a nine-year low for the period to 6.8 percent, the National Statistics Institute (INE) said on Tuesday, as the economy continued to pick up steam. While the rate was just above the figure of 6.7 percent in Ja
Published 30 May, 2007 12:00am
Rs 520 billion PSDP, Rs one trillion revenue target finalised

Rs 520 billion PSDP, Rs one trillion revenue target finalised

After several hours consultations in more than one meetings on budgetary targets, the government on Tuesday finalised Rs 520 billion Public Sector Development Programme (PSDP) and Rs 1 trillion revenue target for 2007-8.
Published 30 May, 2007 12:00am
Ford eyes sale of Volvo cars, BMW interested

Ford eyes sale of Volvo cars, BMW interested

Loss-making Ford Motor Co is planning to sell Swedish car maker Volvo and German carmaker BMW could be a possible buyer, a Swedish newspaper said on Monday. The Goteborgs Posten daily reported on its website that a source within Ford said BMW has been stu
Published 30 May, 2007 12:00am
Rs 520 billion PSDP, Rs one trillion revenue target finalised

Rs 520 billion PSDP, Rs one trillion revenue target finalised

After several hours consultations in more than one meetings on budgetary targets, the government on Tuesday finalised Rs 520 billion Public Sector Development Programme (PSDP) and Rs 1 trillion revenue target for 2007-8.
Published 30 May, 2007 12:00am
Hinopak given away Presidential Award

Hinopak given away Presidential Award

Hinopak has always tried to be abreast with the changing transportation scenario of Pakistan. To keep pace with this tradition, Hinopak last year introduced yet another high-performance light-duty truck-the Dutro. It is proud to proclaim that, since its l
Published 30 May, 2007 12:00am
Rs 520 billion PSDP, Rs one trillion revenue target finalised

Rs 520 billion PSDP, Rs one trillion revenue target finalised

After several hours consultations in more than one meetings on budgetary targets, the government on Tuesday finalised Rs 520 billion Public Sector Development Programme (PSDP) and Rs 1 trillion revenue target for 2007-8.
Published 30 May, 2007 12:00am
Inflation dangers lurk for ECB policymakers

Inflation dangers lurk for ECB policymakers

European Central Bank policymakers have delivered stiff warnings on inflation, convincing investors that interest rates will rise at least twice again as inflation threatens to test the ECB's tolerance.
Published 30 May, 2007 12:00am
Rs 520 billion PSDP, Rs one trillion revenue target finalised

Rs 520 billion PSDP, Rs one trillion revenue target finalised

After several hours consultations in more than one meetings on budgetary targets, the government on Tuesday finalised Rs 520 billion Public Sector Development Programme (PSDP) and Rs 1 trillion revenue target for 2007-8.
Published 30 May, 2007 12:00am
ICBC launches new fund to tap Hong Kong shares

ICBC launches new fund to tap Hong Kong shares

Industrial and Commercial Bank of China Ltd launched a new product on Tuesday that allows clients to invest yuan in Hong Kong stocks and bonds. The move by China's biggest lender by assets comes after the government unveiled a plan on May 11 to let banks
Published 30 May, 2007 12:00am
Prime Minister to give final approval to FBR draft law today

Prime Minister to give final approval to FBR draft law today

Prime Minister Shaukat Aziz will give final approval to the Federal Board of Revenue (FBR) draft law 2007 on (May 30) to make the revenue collecting agency more independent for broadening the tax-base in the coming budget.
Published 30 May, 2007 12:00am
ICBC launches new fund to tap Hong Kong shares

ICBC launches new fund to tap Hong Kong shares

Industrial and Commercial Bank of China Ltd launched a new product on Tuesday that allows clients to invest yuan in Hong Kong stocks and bonds. The move by China's biggest lender by assets comes after the government unveiled a plan on May 11 to let banks
Published 30 May, 2007 12:00am
Prime Minister to give final approval to FBR draft law today

Prime Minister to give final approval to FBR draft law today

Prime Minister Shaukat Aziz will give final approval to the Federal Board of Revenue (FBR) draft law 2007 on (May 30) to make the revenue collecting agency more independent for broadening the tax-base in the coming budget.
Published 30 May, 2007 12:00am
S&P opens Shariah-compliant BRIC stock index

S&P opens Shariah-compliant BRIC stock index

Standard & Poor's has launched a specialist index of stocks from the BRIC countries meeting Shariah criteria and targeted specifically at Muslim investors, the company said on Tuesday.
Published 30 May, 2007 12:00am
Prime Minister to give final approval to FBR draft law today

Prime Minister to give final approval to FBR draft law today

Prime Minister Shaukat Aziz will give final approval to the Federal Board of Revenue (FBR) draft law 2007 on (May 30) to make the revenue collecting agency more independent for broadening the tax-base in the coming budget.
Published 30 May, 2007 12:00am
Americans confident despite falling home prices

Americans confident despite falling home prices

US consumers and investors became more optimistic in May as a rising stock market provided a buffer from the first drop in home values in 16 years, according to reports published on Tuesday. The Conference Board's index of consumer confidence rose to 108.
Published 30 May, 2007 12:00am
Blair flies to Libya as BP lands energy deal

Blair flies to Libya as BP lands energy deal

British leader Tony Blair flew to Libya for talks with Muammar Gaddafi on Tuesday as BP sealed a big energy deal with Tripoli in a further boost to the West's ties with the once-isolated north African state.
Published 30 May, 2007 12:00am
Kenya economy to grow more than six percent: IMF

Kenya economy to grow more than six percent: IMF

Kenya's economy is seen growing at more than 6 percent in 2007/08, in line with government projections, the International Monetary Fund said on Tuesday. The east African country's economy expanded by 6.1 percent in 2006, the government said on Monday, and
Published 30 May, 2007 12:00am
India and Gulf differ on free-trade talks progress

India and Gulf differ on free-trade talks progress

Ministers from India and Oman offered different views on the progress of free-trade talks between India and six Gulf countries, although both officials on Tuesday said a deal was achievable.
Published 30 May, 2007 12:00am
ECB ready for restrictive policy if needed: Weber

ECB ready for restrictive policy if needed: Weber

The European Central Bank is prepared to shift to a restrictive monetary policy if needed to keep inflation under control in an economy growing faster than expected, ECB Governing Council member Axel Weber said.
Published 30 May, 2007 12:00am
EU's Mandelson seeks WTO deal, but not on 'any terms'

EU's Mandelson seeks WTO deal, but not on 'any terms'

The European Union cannot accept an agreement to resolve WTO free-trade talks on "any terms," EU trade chief Peter Mandelson said Tuesday after France promised to veto any deal threatening French agriculture. "A deal is strongly in Europe's interest but n
Published 30 May, 2007 12:00am
RBS-led trio bids $96 billion for ABN, tops rival

RBS-led trio bids $96 billion for ABN, tops rival

A consortium led by Royal Bank of Scotland has launched a 71.1 billion euro ($95.9 billion) bid for Dutch group ABN Amro, trumping Britain's Barclays in a battle for the world's biggest bank take-over.
Published 30 May, 2007 12:00am
OECD inflation falls to 2.2 percent in April

OECD inflation falls to 2.2 percent in April

Inflation in leading industrialised countries grew by 2.2 percent in the 12 months to April from 2.4 percent in March, the Organisation for Economic Cooperation and Development said on Tuesday.
Published 30 May, 2007 12:00am
Despite vows, rich nations cut Africa aid

Despite vows, rich nations cut Africa aid

Despite promises to dramatically boost aid, rich nations have cut contributions to Africa and ignored vows to improve trade conditions for the continent, according to a study released on Tuesday.
Published 30 May, 2007 12:00am
Denmark ups 2007-2008 budget surplus forecasts

Denmark ups 2007-2008 budget surplus forecasts

Denmark's finance ministry on Tuesday raised its forecasts for the public budget surplus in 2007 and 2008, but said constrained fiscal policies were necessary to avoid large deficits in the future. The government's latest economic forecast for the 2007 pu
Published 30 May, 2007 12:00am
Rosneft still sees Sinopec oil deal as costly

Rosneft still sees Sinopec oil deal as costly

Russian oil firm Rosneft still cannot sign a deal with China's Sinopec on oil supplies via Mongolia as it would be loss making despite a drop in railway fees, the firm said on Tuesday.
Published 30 May, 2007 12:00am
France could use veto in trade talks: Sarkozy

France could use veto in trade talks: Sarkozy

President Nicolas Sarkozy said on Tuesday that France would veto any World Trade Organisation (WTO) agreement that did not satisfy its requirements on farming. Sarkozy said he wanted to support farming to ensure there was a second agricultural power outsi
Published 30 May, 2007 12:00am
Canada's minister talks free trade with China

Canada's minister talks free trade with China

Canada's Trade Minister David Emerson pressed the idea of Canada signing a free trade pact with China after meeting with his Chinese counterpart, local media said Tuesday. In an interview with the daily Globe and Mail, Emerson said: "I just would say flat
Published 30 May, 2007 12:00am
Slovak central bank holds rates

Slovak central bank holds rates

The Slovak central bank (NBS) left interest rates unchanged at a policy meeting on Tuesday and signalled a pause in the current monetary policy easing as recent inflation and trade data were worse than expected.
Published 30 May, 2007 12:00am
Airbus parent knew of delays when managers dumped stock

Airbus parent knew of delays when managers dumped stock

Top managers at Airbus parent company EADS knew of delays in aircraft production when they sold their stock options in March 2006, shortly before Airbus shares crashed on a shock announcement, a French daily alleged on Tuesday.
Published 30 May, 2007 12:00am
Italy salary deal averts public sector strikes

Italy salary deal averts public sector strikes

Italy's public sector unions have called off planned strikes after reaching a last-minute deal with Prime Minister Romano Prodi on a hike in salaries and renewal of their contracts, the unions involved said.
Published 30 May, 2007 12:00am
Strong Canadian dollar concerns industry: minister

Strong Canadian dollar concerns industry: minister

The strong Canadian dollar is a concern for Canadian industry and makes it imperative that the government have policies to help business compete, Industry Minister Maxime Bernier said on Tuesday. "Yes, the dollar is kind of a concern for the industry, all
Published 30 May, 2007 12:00am
Brazil's JBS-Friboi to buy Swift for $1.4 billion

Brazil's JBS-Friboi to buy Swift for $1.4 billion

JBS-Friboi, the biggest beef producer in Latin America, said on Tuesday that it agreed to buy US meat packer Swift & Co for about $225 million, creating the world's largest meat company. The take-over was the biggest in a series of acquisitions for JBS-Fr
Published 30 May, 2007 12:00am
Czech Central bank chief says government reforms first step

Czech Central bank chief says government reforms first step

The Czech government's tax and spending reforms would help stabilise the budget in the short run, but fall short of ensuring its long-term sustainability, central bank (CNB) Governor Zdenek Tuma said on Tuesday.
Published 30 May, 2007 12:00am
Bush picks Zoellick as new World Bank chief

Bush picks Zoellick as new World Bank chief

US President George W. Bush has chosen Robert Zoellick, a former US Trade Representative, as the new president for the World Bank, a senior administration official said on Tuesday. Bush will announce his selection on Wednesday and expects the bank''s boar
Published 30 May, 2007 12:00am
Bush picks Zoellick as new World Bank chief

Bush picks Zoellick as new World Bank chief

US President George W. Bush has chosen Robert Zoellick, a former US Trade Representative, as the new president for the World Bank, a senior administration official said on Tuesday. Bush will announce his selection on Wednesday and expects the bank's board
Published 30 May, 2007 12:00am
Bush picks Zoellick as new World Bank chief

Bush picks Zoellick as new World Bank chief

US President George W. Bush has chosen Robert Zoellick, a former US Trade Representative, as the new president for the World Bank, a senior administration official said on Tuesday. Bush will announce his selection on Wednesday and expects the bank's board
Published 30 May, 2007 12:00am
Fuel cell firm IdaTech plans UK float

Fuel cell firm IdaTech plans UK float

Fuel cell maker IdaTech Plc said on Tuesday it intended to raise about 35 million pounds ($69.4 million) by floating and join a range of fuel cell companies listed on London's Alternative Investment Market. The US-based company makes hydrogen-powered fuel
Published 30 May, 2007 12:00am
Australian bonds pressured

Australian bonds pressured

Australian bond futures slipped on Tuesday, undermined by weakness in global debt markets and signs investors were gravitating back to equities as last week's bout of risk aversion proved all too brief.
Published 30 May, 2007 12:00am
Australian bonds pressured

Australian bonds pressured

Australian bond futures slipped on Tuesday, undermined by weakness in global debt markets and signs investors were gravitating back to equities as last week's bout of risk aversion proved all too brief.
Published 30 May, 2007 12:00am
Seoul shares hit record

Seoul shares hit record

Seoul shares rose to another record on Tuesday, led by LG.Philips LCD after a brokerage forecast earnings will improve, but chip maker Samsung Electronics dropped to its lowest since August 2005 as its outlook worsened.
Published 30 May, 2007 12:00am
Australian stocks up one percent

Australian stocks up one percent

Australian shares rose 1.1 percent on Tuesday, ending a three session losing steak as investors snapped up shares in recent declines such as Westfield Group Ltd, while firmer metal prices boosted the top miners.
Published 30 May, 2007 12:00am
Hong Kong shares hit four-week lows

Hong Kong shares hit four-week lows

Hong Kong shares fell 0.3 percent on Tuesday as investors switched from benchmark stocks into small caps, but coal stocks advanced on fresh signs that China's demand for the resource would remain strong.
Published 30 May, 2007 12:00am
Economists calm for now about a China stocks drop

Economists calm for now about a China stocks drop

Call them complacent, but most analysts are confident that a big correction in Chinese stocks would have a modest impact on the world's fourth-largest economy and its banking system.
Published 30 May, 2007 12:00am
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