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Nov 13, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2007-06-08
BRIDGE NOTES: A subtle manoeuvre ensures grand slam

BRIDGE NOTES: A subtle manoeuvre ensures grand slam

The age old dictum that a grand slam is bid only and not played because of foolproof all thirteen tricks are available without involving finesse or any gap. Hence such a deal is honoured by opponents in surrendering to the bidding side.
Published 08 Jun, 2007 12:00am
Government permission may be mandatory for bigwigs visit to Iran

Government permission may be mandatory for bigwigs visit to Iran

Pakistan may slap a ban on trips of prominent government functionaries and officials to Iran until these are not cleared by the Ministry of Foreign Affairs or Pakistan Mission in Tehran, official sources told Business Recorder here on Thursday.
Published 08 Jun, 2007 12:00am
SPORTS WORLD: Wake up before it's too late

SPORTS WORLD: Wake up before it's too late

Nothing is well on the country's sports front. Some all-time low performances in squash, hockey and cricket are a sardonic comment on the efficiency and expertise of those running the national sports affairs.
Published 08 Jun, 2007 12:00am
India and China to conduct first joint army exercises

India and China to conduct first joint army exercises

India and China have agreed to hold their first ever joint army exercise as part of a wider effort to improve ties between the one-time Asian enemies, military officials said on Thursday.
Published 08 Jun, 2007 12:00am
LAHORE CULTURAL DIARY: Roohi Bano again on centre stage

LAHORE CULTURAL DIARY: Roohi Bano again on centre stage

A performance by senior but forgotten actress of the small screen Roohi Bano, a couple of painting exhibitions and two music concerts were the major cultural highlights in Lahore during the week that ended Sunday, June 3, 2007.
Published 08 Jun, 2007 12:00am
Cut in edible oil duty ruled out

Cut in edible oil duty ruled out

Federal government has ruled out any possibility of cut in edible oil duty in the upcoming budget 2007-08. Addressing a press conference at PIDC House on Thursday Jehangeer Tareen, Federal Minister for Industries, said that despite all time high prices in
Published 08 Jun, 2007 12:00am
Zamir Niazi's The Press Under Siege: Pakistan Study Centre edition

Zamir Niazi's The Press Under Siege: Pakistan Study Centre edition

Now-a-days media is once again under attack, not only by a fresh ordinance but by practically disrupting telecast of certain important channels. In addition working journalists are put on hit list and are being threatened directly.
Published 08 Jun, 2007 12:00am
Cut in edible oil duty ruled out

Cut in edible oil duty ruled out

Federal government has ruled out any possibility of cut in edible oil duty in the upcoming budget 2007-08. Addressing a press conference at PIDC House on Thursday Jehangeer Tareen, Federal Minister for Industries, said that despite all time high prices in
Published 08 Jun, 2007 12:00am
Musical Notes - writing on the genre

Musical Notes - writing on the genre

In recent years, a large number of young writers have attempted to pen their thoughts on the system of music currently in vogue, in Pakistan, and about frontline practitioners of its classical modes.
Published 08 Jun, 2007 12:00am
Cut in edible oil duty ruled out

Cut in edible oil duty ruled out

Federal government has ruled out any possibility of cut in edible oil duty in the upcoming budget 2007-08. Addressing a press conference at PIDC House on Thursday Jehangeer Tareen, Federal Minister for Industries, said that despite all time high prices in
Published 08 Jun, 2007 12:00am
CAPITAL CULTURAL SCENE: Heritage of Saidpur village

CAPITAL CULTURAL SCENE: Heritage of Saidpur village

On each Thursday, prior to sunset, the innocent kids, with gloomy eyes sit together in a circular form and kindle clay diyaas at the threshold of the ancient shrine of the female saint, Mai Jee they hope that they will not be ejected from their ancestral
Published 08 Jun, 2007 12:00am
KARACHI CHRONICLE: No smokers invited

KARACHI CHRONICLE: No smokers invited

There ought to be a ban on No-Smoking Day to protect smokers from the unfair criticism of doctors. They think the Day gives them leave to speak unkindly about very nice people who smoke, like myself.
Published 08 Jun, 2007 12:00am
Dwindling fortunes of historians'craft in Pakistan-II

Dwindling fortunes of historians'craft in Pakistan-II

The University of the Punjab, the oldest educational institution in Pakistan, became a full-fledged degree awarding body around October 1882, having grown out of the University College (est., January 1870).
Published 08 Jun, 2007 12:00am
Japan buys 80,000 tonnes wheat

Japan buys 80,000 tonnes wheat

Japan's Agriculture Ministry said on Thursday it had bought a total of 80,000 tonnes of wheat from the United States and Canada at a weekly tender, but cancelled a wheat purchase from Australia due to high prices. All shipments are due to take place in Au
Published 08 Jun, 2007 12:00am
President's address put off indefinitely

President's address put off indefinitely

President General Pervez Musharraf's address to the nation on radio and TV was postponed indefinitely on Thursday, Aaj TV reported. On Wednesday, while addressing the parliamentarians from the ruling party and allies.
Published 08 Jun, 2007 12:00am
Singapore bunker fuel prices rise

Singapore bunker fuel prices rise

Singapore bunker prices rose on Thursday, but their differential to fuel oil cargo values remained mired in deep discounts for a second straight day. Prices for 380-centistoke (cst) bunker fuel were pegged at $340-$342 a tonne, up $2 from the previous ses
Published 08 Jun, 2007 12:00am
President's address put off indefinitely

President's address put off indefinitely

President General Pervez Musharraf's address to the nation on radio and TV was postponed indefinitely on Thursday, Aaj TV reported. On Wednesday, while addressing the parliamentarians from the ruling party and allies.
Published 08 Jun, 2007 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 79,377 tonnes cargo including 64,821 tonnes import, 14,556 tonnes export cargo and 1,559 containers (TEUs) during last 24 hours ending at 0700 hours on Thursday.
Published 08 Jun, 2007 12:00am
Journalists observe black day

Journalists observe black day

International players joined protesting Pakistani journalists as their countrywide demonstration against a fresh law to mute media enters the fourth day.
Published 08 Jun, 2007 12:00am
US Plains HRW wheat holding steady

US Plains HRW wheat holding steady

US Plains hard red winter wheat basis bids held mostly steady Thursday as new-crop cutting picked up. Farmer selling across the scale was active, elevators reported. Warm and mostly dry weather was helping accelerate the pace of harvest after recent rain-
Published 08 Jun, 2007 12:00am
Journalists observe black day

Journalists observe black day

International players joined protesting Pakistani journalists as their countrywide demonstration against a fresh law to mute media enters the fourth day.
Published 08 Jun, 2007 12:00am
Corn futures down

Corn futures down

Corn futures at the Chicago Board of Trade fell on Wednesday on a setback from the rally in late May to one-month highs with rolling of longs out of July and bear-spreading featured, traders said.
Published 08 Jun, 2007 12:00am
Indonesian palm oil prices mostly higher

Indonesian palm oil prices mostly higher

Indonesia's palm oil prices were mostly higher on Thursday, supported by gains in Malaysia and rupiah gains against the US dollar amid a government plan to hike the export tax to 6.5 percent.
Published 08 Jun, 2007 12:00am
US Midwest soya weaker; interior corn higher

US Midwest soya weaker; interior corn higher

Spot basis bids for soyabeans were mostly weaker on Wednesday at processors around the interior US Midwest that were well-stocked with crushing supplies, grain dealers said. But corn bids edged higher at interior locations due to weeks of light farmer sel
Published 08 Jun, 2007 12:00am
CBOT wheat settles lower

CBOT wheat settles lower

Wheat futures on the Chicago Board of Trade closed lower on Wednesday in a technical setback after contract highs were hit Tuesday on worries about tight global wheat supplies, traders said. Drought in Ukraine and recent excess rains in the US Plains hard
Published 08 Jun, 2007 12:00am
Oil cake market rates

Oil cake market rates

No change seen in the contracts on the forward cottonseed oilcake market on Thursday as buyers struck some deals to meet their near term needs, dealers said. The July vaida was unchanged at Rs 650.00 and closing was seen at the same level.
Published 08 Jun, 2007 12:00am
Lacklustre situation on cotton market ahead of budget

Lacklustre situation on cotton market ahead of budget

Firmness prevailed at the cotton market on Thursday as spot rate maintained the overnight level ahead of federal budget (2007-08), dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 2600, they added.
Published 08 Jun, 2007 12:00am
Gram prices up sharply on grain market

Gram prices up sharply on grain market

Grams prices rose sharply on the local grain market on Thursday as sellers in the wholesale market were hoarding the commodity in expectations of better profit of margin after the budget (2007-08), dealers said.
Published 08 Jun, 2007 12:00am
Cotton business lying in limbo

Cotton business lying in limbo

Activity in the lint market has mostly been lying in a limbo since the past couple of weeks. low morale in the textile industry, ample domestic and imported supply of cotton available with many of the spinners to carry over their operations into the next
Published 08 Jun, 2007 12:00am
Cotton business lying in limbo

Cotton business lying in limbo

Activity in the lint market has mostly been lying in a limbo since the past couple of weeks. low morale in the textile industry, ample domestic and imported supply of cotton available with many of the spinners to carry over their operations into the next
Published 08 Jun, 2007 12:00am
NYBOT cotton stocks rises

NYBOT cotton stocks rises

Certificated cotton stocks deliverable against New York Board of Trade's (NYBOT) No 2 cotton futures contract as of June 5 totalled 709,049 (480-lb) bales, from 708,088 bales the previous session. There were 1,804 bales issued, 5,412 bales were awaiting r
Published 08 Jun, 2007 12:00am
New York cocoa futures soften

New York cocoa futures soften

US cocoa futures edged lower on Wednesday, after a rangebound session as players rolled positions out of the front month into September ahead of July's first notice day on June 18, traders said. "It's lacking any direction. There's not much buying interes
Published 08 Jun, 2007 12:00am
New York coffee ends little changed

New York coffee ends little changed

US arabica coffee futures closed little changed in a rangebound session on Wednesday due to options-related dealings and a mild weather forecast in top producer Brazil, traders said. "We're flirting with that $1.15 strike," one trader said, referring to t
Published 08 Jun, 2007 12:00am
MGE spring wheat lower

MGE spring wheat lower

Spring wheat futures at the Minneapolis Grain Exchange closed lower on Wednesday in a technical setback after most months hit contract highs on Tuesday, traders said. The market was also down in sympathy with declines in Chicago and Kansas City wheat.
Published 08 Jun, 2007 12:00am
Cut in Ukraine grain forecast

Cut in Ukraine grain forecast

Ukraine's UkrAgroConsult agriculture constancy revised sharply downwards its 2007 grain crop forecast by 11.5 percent to 33 million tonnes from a previous outlook of 37.4 million due to severe drought.
Published 08 Jun, 2007 12:00am
US copper futures drift lower

US copper futures drift lower

US copper futures ended down on Wednesday, as a US stock market sell-off sparked further profit-taking in the red metal, but strong fundamentals buoyed copper and it finished well off session lows, analysts said.
Published 08 Jun, 2007 12:00am
US gold futures down

US gold futures down

US gold futures finished 50 cents lower in choppy trading on Wednesday, but off the session low because of a stronger dollar, and dealers said the precious metal could fall further because of chart-based weakness and a lack of buying interest.
Published 08 Jun, 2007 12:00am
Gold higher on oil

Gold higher on oil

Cash gold edged higher on Thursday, bolstered by inflation concerns provoked by high oil prices, and Tokyo gold futures followed it higher by the close. But analysts said chances seemed slim for further gains in bullion beyond a key resistance without any
Published 08 Jun, 2007 12:00am
Malaysian tin flat

Malaysian tin flat

Malaysian tin ended flat on Thursday despite a decline in prices on the London Metal Exchange as strong Japanese buying supported the market, one dealer said.
Published 08 Jun, 2007 12:00am
World wheat crop output may rise

World wheat crop output may rise

World output of wheat and other major grains is expected to rise to record highs this year led by maize which expanded on the back of growing energy sector demand, the United Nations food body, FAO, said on Thursday.
Published 08 Jun, 2007 12:00am
Oil above $71, nears nine-month high

Oil above $71, nears nine-month high

Oil prices held firm above $71 a barrel on Thursday, nearing their highest in nine months after a raid by Turkish troops into northern Iraq revived Middle East geopolitical jitters. Data showing US refiners were struggling to boost summer fuel production
Published 08 Jun, 2007 12:00am
Shanghai copper falls

Shanghai copper falls

Shanghai copper futures slid more than 2 percent on Thursday, as investors sought to book profits on arbitrage trade between the Chinese and London markets. The most-active August copper contract on the Shanghai Futures Exchange had fallen 1,440 yuan to 6
Published 08 Jun, 2007 12:00am
Australia canola plant boosted by world price boom

Australia canola plant boosted by world price boom

Rocketing world prices for canola and palm oil have encouraged Australian farmers to plant more of the crop, increasing its expected size, traders said on Thursday. Extra hectares of the oilseed, in demand as a feedstock for bifocal, were being planted ev
Published 08 Jun, 2007 12:00am
New York sugar settles up

New York sugar settles up

Raw sugar futures finished higher on Wednesday on trade and speculative buying as the market bounced from a two-year low, but a worsening glut may drag values lower over the long haul, analysts said. New York Board of Trade's key July raw sugar contract c
Published 08 Jun, 2007 12:00am
Soyabeans soften

Soyabeans soften

Soyabean futures at the Chicago Board of Trade fell on Wednesday on a technical setback, following moves in soyabean oil, traders said. Soyabeans have been tracking soyabean oil prices recently, with both markets due for a correction after climbing to mul
Published 08 Jun, 2007 12:00am
Asian physical rubber prices

Asian physical rubber prices

Asian physical rubber prices dropped on Thursday, reflecting a fall on the Tokyo Commodity Exchange. Physical trade was active with China, the world biggest rubber buyer, seeking Thai RSS3 for prompt shipment at $2.30-$2.33 per kg, traders said.
Published 08 Jun, 2007 12:00am
CBOT rice slides

CBOT rice slides

Rough rice futures at the Chicago Board of Trade tumbled on Wednesday as commodity funds liquidated long positions, traders said. July rice closed 8 cents lower at $10.11 per hundredweight, September was down 8-1/2 at $10.47-1/2 and November settled 6 low
Published 08 Jun, 2007 12:00am
Tokyo rubber falls to three-week low

Tokyo rubber falls to three-week low

Tokyo rubber futures fell about 1 percent to a three-week low on Thursday as a recovery in the yen against the dollar triggered active selling. The key Tokyo Commodity Exchange rubber contract for November delivery fell as low as 278.5 yen a kg the weakes
Published 08 Jun, 2007 12:00am
Malaysian palm oil up

Malaysian palm oil up

Malaysian palm futures ended 1 percent higher on Thursday, lifted by concerns over declining reserves and only a marginal increase in production, dealers said. The benchmark August contract on the Bursar Malaysia Derivatives Exchange finished up 25 ringgi
Published 08 Jun, 2007 12:00am
Swiss jobless at 4-1/2-year low

Swiss jobless at 4-1/2-year low

Switzerland's unemployment fell to its lowest level in over 4-1/2 years last month, data showed on Thursday, reflecting the healthy state of the Swiss economy and the leeway for higher interest rates.
Published 08 Jun, 2007 12:00am
Vodafone urged to free up cash for shareholders

Vodafone urged to free up cash for shareholders

A tiny investment firm backed by the former deputy chairman of telecoms equipment maker Marconi has called on mobile phone giant Vodafone to free up 38 billion pounds ($76 billion) of assets to return to shareholders.
Published 08 Jun, 2007 12:00am
Swissair chiefs acquitted in airline collapse

Swissair chiefs acquitted in airline collapse

A Swiss judge acquitted all 19 former executives of failed airline Swissair of criminal wrongdoing on Thursday, ending Switzerland's biggest-ever economic crime trial.
Published 08 Jun, 2007 12:00am
North Korea plans to attend BIS meeting

North Korea plans to attend BIS meeting

North Korea plans to attend an annual meeting of central bank governors at the Bank for International Settlements next year but is not sending anyone to this year's, a central bank official said on Thursday. The annual gathering at the BIS in Basel, Switz
Published 08 Jun, 2007 12:00am
BoE holds rates

BoE holds rates

British interest rates stayed at a six-year high of 5.5 percent on Thursday but the Bank of England is expected to raise them again in the next few months. Most experts had guessed the central bank would refrain from hiking borrowing costs just a month af
Published 08 Jun, 2007 12:00am
IBM saved about $1.6 billion in tax manoeuvre

IBM saved about $1.6 billion in tax manoeuvre

International Business Machines Corp saved about $1.6 billion last month by using a corporate tax loophole that has since been closed, the Wall Street Journal reported in its online edition on Wednesday.
Published 08 Jun, 2007 12:00am
Wal-Mart May sales lacklustre

Wal-Mart May sales lacklustre

Wal-Mart Stores Inc reported May sales at US stores open at least a year toward the low end of its forecast and gave a cautious view for its June sales on Thursday, adding that shopper worries about gas prices have increased from January through April.
Published 08 Jun, 2007 12:00am
Russia showcases economy amid frosty western ties

Russia showcases economy amid frosty western ties

Russia will showcase its resurgent economy to the outside world at a Davos-style forum in St Petersburg this weekend even though relations with the West are at their lowest point since the end of the Cold War.
Published 08 Jun, 2007 12:00am
EU retailers counter calls for new China textile cap

EU retailers counter calls for new China textile cap

European retailers hit back on Thursday at textile manufacturers and some EU governments who are pressing Brussels to extend import quotas on clothing and textiles from China. European trade chief Peter Mandelson negotiated the quotas with China in 2005 i
Published 08 Jun, 2007 12:00am
Toyota sold one million hybrid vehicles

Toyota sold one million hybrid vehicles

Toyota Motor Corp said on Thursday it has so far sold one million hybrid vehicles globally. Of the one million hybrid sales world-wide, more than half have been sold in the United States, Toyota said. Toyota sold 541,210 hybrid vehicles in the US from 200
Published 08 Jun, 2007 12:00am
Time Warner to make decision on AOL at year-end

Time Warner to make decision on AOL at year-end

Time Warner Inc said on Thursday it will make a decision on AOL's future by the end of the year, addressing rampant speculation the online unit could be spun off or merged with another company. It also said it could see a complete separation of majority-o
Published 08 Jun, 2007 12:00am
US jobless claims edge down, inventories pick up

US jobless claims edge down, inventories pick up

Fewer US workers signed up for unemployment aid last week, underscoring stability in the labour market, and inventories at US wholesalers picked up in April in a sign businesses are preparing for more demand later this year.
Published 08 Jun, 2007 12:00am
Gulf single currency may take longer than 2010: UAE

Gulf single currency may take longer than 2010: UAE

Creating a single currency for six Gulf Arab oil producers could take longer than the initially agreed 2010 deadline, United Arab Emirates Central Bank Governor Sultan Nasser al-Suweidi said on Thursday.
Published 08 Jun, 2007 12:00am
Bangladesh unveils $12.6 billion budget

Bangladesh unveils $12.6 billion budget

Bangladesh's army-backed interim government on Thursday unveiled an 871.37 billion taka ($12.6 billion) annual budget for fiscal 2007/08, aiming to spur growth, cut inflation and reduce poverty. This compares with a revised budget of 668.36 billion taka f
Published 08 Jun, 2007 12:00am
Greek funds reject JP Morgan offer

Greek funds reject JP Morgan offer

Greek pension funds turned down on Thursday an offer by investment bank J.P. Morgan to buy back a Greek government structured bond at the heart of a scandal rocking the government. A source at the bank told Reuters its proposal was rejected and was now of
Published 08 Jun, 2007 12:00am
UK bourses expect little new from Brown's successor

UK bourses expect little new from Brown's successor

The next British finance minister in Gordon Brown's future administration is unlikely to abolish stamp duty on share trading, despite great hopes for change, and investors can expect little new in terms of policy, analysts say.
Published 08 Jun, 2007 12:00am
Jakarta shares decline

Jakarta shares decline

Indonesian share prices closed down 0.41 percent on Thursday on profit-taking but losses were trimmed by another 25 basis points cut in the benchmark interest rate, dealers said.
Published 08 Jun, 2007 12:00am
Malaysian shares sag

Malaysian shares sag

Malaysian share prices closed 0.58 percent lower on Thursday, ending off lows from earlier falls triggered by Wall Street's weak overnight close, dealers said. They said bargain-hunters emerged to pick up select stocks at lower levels and as sentiment in
Published 08 Jun, 2007 12:00am
Caution caps Hong Kong blue chips

Caution caps Hong Kong blue chips

Hong Kong blue chips held steady on Thursday as investors found solace in mostly higher Asian markets, helping to offset morning losses triggered by overnight sell-offs in US and European equities.
Published 08 Jun, 2007 12:00am
Inflation and rate worries batter US stocks

Inflation and rate worries batter US stocks

US stocks fell sharply for a second day on Wednesday after data showing higher-than-expected labour costs stoked worries about inflation and interest rates. Energy stocks such as Exxon Mobil Corp fell and the sector was among the heaviest drags on the S&P
Published 08 Jun, 2007 12:00am
US Treasury debt prices finish firmer

US Treasury debt prices finish firmer

US Treasury debt prices rose on Wednesday as a sell-off in the stock market stoked some buying in bonds despite data signalling wage inflation pressures. Major Wall Street indexes shed nearly one percent, helping Treasuries stabilise after their month-lon
Published 08 Jun, 2007 12:00am
US Treasury debt prices finish firmer

US Treasury debt prices finish firmer

US Treasury debt prices rose on Wednesday as a sell-off in the stock market stoked some buying in bonds despite data signalling wage inflation pressures. Major Wall Street indexes shed nearly one percent, helping Treasuries stabilise after their month-lon
Published 08 Jun, 2007 12:00am
Singapore shares weaken

Singapore shares weaken

Singapore share prices closed 0.49 percent lower on Thursday on a further consolidation in the market, triggered by Wall Street's overnight falls, dealers said. The Straits Times Index (STI) closed down 17.42 points at 3,546.33. Volume traded was 3.06 bil
Published 08 Jun, 2007 12:00am
Philippines shares plunge

Philippines shares plunge

Philippines share prices closed 1.17 percent lower on Thursday on profit-taking following a slump on Wall Street overnight amid concerns over the outlook for US inflation and interest rates, dealers said. Some bargain-hunting midway through the sesssion h
Published 08 Jun, 2007 12:00am
Thai shares close flat

Thai shares close flat

Thai share prices closed flat on Thursday as sentiment was downbeat following a drop on Wall Street with investors trading with caution amid fresh fears over higher US interest rates, dealers said. They said foreign investors stayed on the sidelines due t
Published 08 Jun, 2007 12:00am
Tokyo index inches higher

Tokyo index inches higher

The Nikkei edged up 0.07 percent on Thursday as investors bought Komatsu Ltd and other machinery stocks ahead of machinery orders data on Friday, while Softbank Corp gained as industry data showed it added the most users in May. Sony Corp ended down 1.2 p
Published 08 Jun, 2007 12:00am
Indian shares dip

Indian shares dip

Indian share prices fell 0.49 percent on Thursday in volatile trade fuelled by fresh concern over inflation and interest rates, dealers said. They said local and overseas funds sold shares on speculation that US and global interest rates could be headed h
Published 08 Jun, 2007 12:00am
New Zealand shares slip

New Zealand shares slip

New Zealand share prices closed 1.41 percent lower on Thursday after the central bank surprised markets by raising interest rates, dealers said. The NZX-50 gross index fell 59.58 points to 4,234.62 on turnover worth 153.2 million dollars (115.8 million US
Published 08 Jun, 2007 12:00am
Taiwan stocks hit seven-year high

Taiwan stocks hit seven-year high

Taiwan shares ended up 0.5 percent at a 7-year closing high on Thursday, as laptop PC maker Quanta's bullish forecast outweighed concerns a Wall Street slide would hurt Taiwan tech exporters. The main TAIEX rose 40.58 points to 8,355.26, recovering from a
Published 08 Jun, 2007 12:00am
Swiss franc weaker versus euro

Swiss franc weaker versus euro

The Swiss franc held on to recent gains against the euro despite the European Central Bank's decision to hike rates to a near six-year high, widening the rate differential between Switzerland and the euro zone.
Published 08 Jun, 2007 12:00am
Yuan slips against dollar

Yuan slips against dollar

China's yuan slid against the US dollar on Thursday in volatile trade as it consolidated after steady appreciation earlier in the week, although dealers expected it to resume its uptrend against the dollar in the near term.
Published 08 Jun, 2007 12:00am
Euro on back foot

Euro on back foot

The euro stayed on the back foot against major currencies on Thursday after the European Central Bank did not clearly suggest how much interest rates will rise following a widely expected lift to 4 percent in the previous session.
Published 08 Jun, 2007 12:00am
New Zealand, Australian dollar jumps

New Zealand, Australian dollar jumps

The New Zealand dollar jumped in New York on Wednesday after the Reserve Bank of New Zealand unexpectedly raised interest rates, drawing more investors to the highest yielding currency in the developed world.
Published 08 Jun, 2007 12:00am
Euro slides versus yen

Euro slides versus yen

The euro dropped against the yen and the dollar on Wednesday after the European Central Bank gave no clear indications about the outlook for interest rates beyond 2007, while global equity market weakness helped lift the Japanese currency.
Published 08 Jun, 2007 12:00am
Australian dollar hits new 17-year high

Australian dollar hits new 17-year high

The Australian dollar rose to a fresh 17-year high on Thursday after domestic jobs growth surged above expectations for a second straight month, fuelling talk the central bank might raise interest rates in the near term.
Published 08 Jun, 2007 12:00am
Asian currencies pare losses

Asian currencies pare losses

Asia currencies cut earlier losses on Thursday as regional stock markets stabilised, while the hard-hit Indonesia rupiah also found support as investors started to buy back the high-yielding currency. The rupiah bounced back and steadied at 8,885 per doll
Published 08 Jun, 2007 12:00am
Hong Kong dollar stays weak

Hong Kong dollar stays weak

The Hong Kong dollar extended its losses on Thursday, with a fall in local interbank rates prompting market players to chase higher-yielding assets. The domestic currency was trading at 7.8131/35 against the US dollar, weaker than 7.8100/02 in late Wednes
Published 08 Jun, 2007 12:00am
Site Association wins friendly match

Site Association wins friendly match

The cricket team of Site Association of Industry won the friendly cricket match against THK Associates played on Saturday, June 3 at TMC Ground. The Site Association's Cricket Team (SAI) won the toss and decided to bat first.
Published 08 Jun, 2007 12:00am
Flintoff dismisses talk of Vaughan rift

Flintoff dismisses talk of Vaughan rift

Andrew Flintoff has said his friendship with Michael Vaughan remains as strong as ever, despite the England captain's comments about the all-rounder's conduct at the World Cup. Flintoff labelled his skipper's interview with the Guardian this week "a storm
Published 08 Jun, 2007 12:00am
Collymore sparks West Indies revival

Collymore sparks West Indies revival

Corey Collymore led a West Indies fightback in the third Test against England at Old Trafford here Thurdsay. At tea on the first day, England had stumbled to 167 for five having been 112 for one at lunch.
Published 08 Jun, 2007 12:00am
Mali becomes ICC acting president

Mali becomes ICC acting president

Ray Mali has been appointed acting president of the International Cricket Council (ICC) following the death last month of fellow South African Percy Sonn, the global governing body announced in a statement from its Dubai headquarters on Thursday.
Published 08 Jun, 2007 12:00am
Reina signs new five-year deal

Reina signs new five-year deal

Liverpool's Spanish goalkeeper Pepe Reina has signed a new five-year deal keeping him at Anfield until 2012, the English Premier League club said on Thursday.
Published 08 Jun, 2007 12:00am
PFF issue notice to Arshad Lodhi

PFF issue notice to Arshad Lodhi

Pakistan Football Federation (PFF) has called former PFF Secretary and sitting Punjab Minister for Agriculture Muhammad Arshad Khan Lodhi to explain reasons for breaching the PFF Code of Conduct.
Published 08 Jun, 2007 12:00am
Henin reaches final

Henin reaches final

World number one Justine Henin stayed on course for a rare French Open hat-trick when she outplayed Serbia's Jelena Jankovic 6-2 6-2 on Thursday to reach the final. Top seed Henin, trying to become the first woman to win three successive crowns at Roland
Published 08 Jun, 2007 12:00am
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