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Nov 27, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2007-06-09
CBOT wheat futures higher

CBOT wheat futures higher

Wheat futures on the Chicago Board of Trade closed higher on Thursday as news of potential export demand from India and reminders of drought damage in Ukraine prompted short covering, traders said. Strength in corn and soybean futures lent support to whea
Published 09 Jun, 2007 12:00am
Oil cake market rates

Oil cake market rates

The July vaida was unchanged while the December vaida was lower in the forward cottonseed oilcake market on Friday in subdued trading, dealers said. The July vaida was unchanged at Rs 650.00 and closing was seen at the same level, they said.
Published 09 Jun, 2007 12:00am
Improvement in trade deficit to nine percent of GDP expected

Improvement in trade deficit to nine percent of GDP expected

The government is expecting improvement in trade deficit to 9 percent of the GDP in the current fiscal as against 9.5 percent of last year. However, the government is reviewing the factors that led to sharp deceleration in exports during the first ten mon
Published 09 Jun, 2007 12:00am
Two small deals seen on cotton market

Two small deals seen on cotton market

Some mills showed interest in the fresh buying as ginners were ready to oblige them by lowering the asking price for fine type, dealers said at the cotton market on Friday. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 2600,
Published 09 Jun, 2007 12:00am
Improvement in trade deficit to nine percent of GDP expected

Improvement in trade deficit to nine percent of GDP expected

The government is expecting improvement in trade deficit to 9 percent of the GDP in the current fiscal as against 9.5 percent of last year. However, the government is reviewing the factors that led to sharp deceleration in exports during the first ten mon
Published 09 Jun, 2007 12:00am
Tea prices mixed on Jodia Bazaar

Tea prices mixed on Jodia Bazaar

The trading on tea side moved both ways on Jodia Bazaar here, on Friday. The following variations were noted.
Published 09 Jun, 2007 12:00am
Improvement in trade deficit to nine percent of GDP expected

Improvement in trade deficit to nine percent of GDP expected

The government is expecting improvement in trade deficit to 9 percent of the GDP in the current fiscal as against 9.5 percent of last year. However, the government is reviewing the factors that led to sharp deceleration in exports during the first ten mon
Published 09 Jun, 2007 12:00am
Rates stay put on good supply at grain market

Rates stay put on good supply at grain market

Firmness prevailed in the grain market on Friday as most of the items remained unchanged due to balanced demand supply position, dealers said. Some commodities fluctuated but closed at the overnight levels, they added.
Published 09 Jun, 2007 12:00am
Food inflation cruises to double digit

Food inflation cruises to double digit

The food inflation in Pakistan has cruised to double digit, from 6.9 percent last fiscal to 10.2 percent of the current fiscal, despite 5.0 percent growth in agricultural sector with an all-time high production of wheat, the main staple food.
Published 09 Jun, 2007 12:00am
US copper extends losses

US copper extends losses

US copper futures closed down for the third consecutive day on Thursday as recent weakness in global equity markets sparked fears that a cooling in the global economic expansion could crimp demand for the industrial metal, traders and analysts said.
Published 09 Jun, 2007 12:00am
Food inflation cruises to double digit

Food inflation cruises to double digit

The food inflation in Pakistan has cruised to double digit, from 6.9 percent last fiscal to 10.2 percent of the current fiscal, despite 5.0 percent growth in agricultural sector with an all-time high production of wheat, the main staple food.
Published 09 Jun, 2007 12:00am
US gold futures slide

US gold futures slide

US gold futures hit a one-week low and finished nearly $10 lower in volatile trade on Thursday, as the dollar's strength, rising US Treasury yields and a sagging stock market hurt bullion investor sentiment.
Published 09 Jun, 2007 12:00am
Food inflation cruises to double digit

Food inflation cruises to double digit

The food inflation in Pakistan has cruised to double digit, from 6.9 percent last fiscal to 10.2 percent of the current fiscal, despite 5.0 percent growth in agricultural sector with an all-time high production of wheat, the main staple food.
Published 09 Jun, 2007 12:00am
Gold hits one-week low

Gold hits one-week low

Cash gold extended the previous day's steep decline on Friday to a fresh one-week low on a firm dollar and rising US treasury yields, while Tokyo gold futures also fell on stop-loss selling.
Published 09 Jun, 2007 12:00am
Budget today

Budget today

A surprised and frightened Pakistani nation is counting moments to see what a ''trust-deficient'' government offers it in the 2007-08 budget to restore lost credibility in the wake of lingering judicial and media crises.
Published 09 Jun, 2007 12:00am
Indonesian palm oil drops

Indonesian palm oil drops

Indonesian palm oil prices eased on Friday, tracking a tumble in Malaysia, amid market talk that Indonesia was likely to delay its plan to raise cooking oil export tax.
Published 09 Jun, 2007 12:00am
Budget today

Budget today

A surprised and frightened Pakistani nation is counting moments to see what a 'trust-deficient' government offers it in the 2007-08 budget to restore lost credibility in the wake of lingering judicial and media crises.
Published 09 Jun, 2007 12:00am
Malaysian tin slips

Malaysian tin slips

Malaysian tin fell marginally on Friday, tracking decline in prices on the London Metal Exchange but strong Japanese buying capped losses, one dealer said.
Published 09 Jun, 2007 12:00am
Budget today

Budget today

A surprised and frightened Pakistani nation is counting moments to see what a 'trust-deficient' government offers it in the 2007-08 budget to restore lost credibility in the wake of lingering judicial and media crises.
Published 09 Jun, 2007 12:00am
Asian physical rubber prices

Asian physical rubber prices

Asian physical rubber prices were quoted lower on Friday, tracking a fall in the Tokyo Commodity Exchange, which dipped for the third straight session. Physical trade was busy with more buyers back in the market as prices were quite low compared to last w
Published 09 Jun, 2007 12:00am
Oil slips

Oil slips

Oil slipped but held above $71 on Friday, as Opec rebuffed calls for more crude supplies and Oman's exports remained shut in after a Gulf storm. London Brent crude, seen as currently more representative of the global market, was down 13 cents at $71.09 a
Published 09 Jun, 2007 12:00am
Shanghai copper down

Shanghai copper down

Shanghai copper futures fell 1.2 percent in early trade on Friday, tracking weaker London prices after sentiment worsened along with a slide in US stocks. Nickel, which had dived almost 6 percent on Thursday after the London Metal Exchange changed lending
Published 09 Jun, 2007 12:00am
Three killed in Hub blast

Three killed in Hub blast

Three people were killed and six injured in a bomb explosion at Hub River Road in Balochistan, on Friday. Hub Station House Officer Abdullah Afridi told Aaj TV that a bomb was planted in front of a local hotel at RCD Road.
Published 09 Jun, 2007 12:00am
Indian sugar up

Indian sugar up

Indian sugar futures rose on Friday after the government said it would take a number of measures to help mills hit by falling prices, while soyaoil futures fell slightly on worries of a cut in import duty.
Published 09 Jun, 2007 12:00am
US hopes Pakistan will not move to emergency rule

US hopes Pakistan will not move to emergency rule

Imposition of emergency rule would be a step backward for Pakistan and the United States hopes President Pervez Musharraf doesn't take such action, a senior US official said on Thursday.
Published 09 Jun, 2007 12:00am
New York sugar softens

New York sugar softens

Raw sugar futures closed lower on Thursday on switch-related pressure as a major commodity fund began moving positions out of the spot contract and bearish fundamentals keep the market under pressure, brokers said.
Published 09 Jun, 2007 12:00am
Death toll from Oman cyclone hits 49

Death toll from Oman cyclone hits 49

Cyclone Gonu, which tore through Oman this week before veering towards Iran, killed at least 49 people and left another 27 missing in the Gulf sultanate, police said on Friday. "The death toll from Cyclone Gonu has risen to 49," a police spokesman told th
Published 09 Jun, 2007 12:00am
Soyabean futures rally

Soyabean futures rally

Soyabean futures at the Chicago Board of Trade closed sharply higher on Thursday, boosted by technical buying following the strength in corn and soyabean oil, traders said. During the midseason soyabeans slid from their highs.
Published 09 Jun, 2007 12:00am
Dips in key areas noted

Dips in key areas noted

The Economic Survey released on Friday indicated that Pakistan''s economy performed poorly as the government missed targets for a number of key areas in 2006-07. Services sector, exports, large scale manufacturing (LSM) and inflation are among those areas
Published 09 Jun, 2007 12:00am
Tokyo rubber lower

Tokyo rubber lower

Tokyo rubber futures fell more than 1 percent to their lowest level since mid-May on Friday as sharp falls in other commodities such as gold and surging US Treasury yields prompted funds to shift out of rubber.
Published 09 Jun, 2007 12:00am
Dips in key areas noted

Dips in key areas noted

The Economic Survey released on Friday indicated that Pakistan's economy performed poorly as the government missed targets for a number of key areas in 2006-07. Services sector, exports, large scale manufacturing (LSM) and inflation are among those areas,
Published 09 Jun, 2007 12:00am
Dips in key areas noted

Dips in key areas noted

The Economic Survey released on Friday indicated that Pakistan's economy performed poorly as the government missed targets for a number of key areas in 2006-07. Services sector, exports, large scale manufacturing (LSM) and inflation are among those areas,
Published 09 Jun, 2007 12:00am
Malaysian palm oil plunges

Malaysian palm oil plunges

Malaysian crude palm oil staged its sharpest decline in a single day on Friday, tumbling more than 6 percent as market talk that Indonesia could delay its plan to raise vegetable oil export tax triggered panic selling.
Published 09 Jun, 2007 12:00am
Wapda players gets cash prizes

Wapda players gets cash prizes

A ceremony to distribute cash prizes amongst the Wapda players, who participated in national games in Karachi at April 9 to 14, was held here on Friday.
Published 09 Jun, 2007 12:00am
Football Khanewal to host 6th U-15 championship

Football Khanewal to host 6th U-15 championship

Pakistan Football Federation (PFF)'s President Makhdoom Syed Faisal Saleh Hayat has approved Punjab's city Khanewal as host of 6th National Under-15 Championship later this month.
Published 09 Jun, 2007 12:00am
2011 World Cup hosts to discuss shorter duration

2011 World Cup hosts to discuss shorter duration

The India, Pakistan, Sri Lanka and Bangladesh cricket boards will discuss the possibility of reducing the duration of the 2011 World Cup. Officials from the four South Asian test playing nations, who will co-host the next World Cup, will meet in Pakistan
Published 09 Jun, 2007 12:00am
Sharapova to play in Birmingham Classic

Sharapova to play in Birmingham Classic

World number two Maria Sharapova will play at next week's Birmingham Classic after accepting a wildcard for the Wimbledon warm-up event, the Lawn Tennis Association (LTA) said on Friday.
Published 09 Jun, 2007 12:00am
Wayward Harmison strikes as West Indies battle

Wayward Harmison strikes as West Indies battle

England paceman Stephen Harmison delivered the occasional gem admist a flurry of wide deliveries to help leave West Indies 153 for three in reply to England's 370, a deficit of 217, at tea on the second day of the third Test at Old Trafford here on Friday
Published 09 Jun, 2007 12:00am
Ivanovic keen to end Henin's love affair with Paris

Ivanovic keen to end Henin's love affair with Paris

After suffering six months of personal heartache, Justine Henin plans to douse the youthful exuberance of Serbia's Ana Ivanovic and rekindle an old love affair in the final of the French Open on Saturday.
Published 09 Jun, 2007 12:00am
Federer sets record by reaching Paris final

Federer sets record by reaching Paris final

Roger Federer reached a record eighth consecutive grand slam final by overcoming Russia's Nikolay Davydenko 7-5 7-6 7-6 in a thrilling French Open semi-final on Friday. World number one Federer bettered the record of seven successive final appearances set
Published 09 Jun, 2007 12:00am
Singapore detains five militants

Singapore detains five militants

Singapore has arrested five militants since late in 2006, including four members of Jemaah Islamiah (JI), a Southeast Asian militant group linked to al Qaeda, the Home Ministry said on Friday.
Published 09 Jun, 2007 12:00am
Missile test part of normal drills: North Korea

Missile test part of normal drills: North Korea

A North Korean official said on Friday its latest missile launch was part of "normal" military exercises and should not be seen as a threat, while a South Korean ministry reportedly said there could be more tests soon.
Published 09 Jun, 2007 12:00am
Basque separatist leader jailed just after truce ended

Basque separatist leader jailed just after truce ended

The leader of banned Basque separatist party Batasuna was jailed for praising terrorism on Friday, just three days after ETA rebels called off a ceasefire with the Spanish government.
Published 09 Jun, 2007 12:00am
CIA agents go on trial in Italy before Bush visit

CIA agents go on trial in Italy before Bush visit

Twenty six US citizens, almost all believed to be CIA agents, went on trial in absentia on Friday accused of kidnapping a Muslim cleric in Milan and flying him to Egypt. The court case, highlighting one of Washington's most controversial policies in its w
Published 09 Jun, 2007 12:00am
Zimbabwe journalists launch new media council

Zimbabwe journalists launch new media council

Zimbabwean journalists launched a voluntary media council on Friday, hoping to show the government the media can oversee itself and does not need what critics say is increasingly draconian state regulation.
Published 09 Jun, 2007 12:00am
Senior Chinese official commits suicide

Senior Chinese official commits suicide

A senior Chinese official has committed suicide after coming under investigation for economic crimes, a colleague said on Friday, one of the highest-ranking officials to kill himself in three decades.
Published 09 Jun, 2007 12:00am
SocGen seen mulling linkup with rival BNP

SocGen seen mulling linkup with rival BNP

French bank Societe Generale is mulling a combination with bigger domestic rival BNP Paribas, a French newspaper said on Friday, in a deal which could create a French national champion in banking.
Published 09 Jun, 2007 12:00am
Canada takes US farm subsidies challenge to WTO

Canada takes US farm subsidies challenge to WTO

Canada has taken its challenge of US agricultural subsidies to the World Trade Organisation, requesting on Friday a dispute settlement panel be established in the case. "We remain concerned that the US is providing agricultural subsidies in breach of its
Published 09 Jun, 2007 12:00am
Greece steps in to help JP Morgan and funds bond deal

Greece steps in to help JP Morgan and funds bond deal

Greece on Friday offered cash to facilitate a deal in which J.P Morgan would buy back a structured bond at the heart of a scandal rocking the government from state pension funds.
Published 09 Jun, 2007 12:00am
Greece steps in to help JP Morgan and funds bond deal

Greece steps in to help JP Morgan and funds bond deal

Greece on Friday offered cash to facilitate a deal in which J.P Morgan would buy back a structured bond at the heart of a scandal rocking the government from state pension funds.
Published 09 Jun, 2007 12:00am
McDonald's sales jump, helped by Shrek

McDonald's sales jump, helped by Shrek

McDonald's Corp on Friday posted its largest monthly comparable-store sales increase in more than three years, helped by the popularity of its small sandwiches in France and a big green ogre called Shrek in the United States.
Published 09 Jun, 2007 12:00am
McDonald's sales jump, helped by Shrek

McDonald's sales jump, helped by Shrek

McDonald's Corp on Friday posted its largest monthly comparable-store sales increase in more than three years, helped by the popularity of its small sandwiches in France and a big green ogre called Shrek in the United States.
Published 09 Jun, 2007 12:00am
Japan's machinery orders disappoint

Japan's machinery orders disappoint

Japan's core machinery orders rose for the first time in three months in April but by less than expected as the economy struggles to exit a soft patch amid a cautious start to the new business year, official data showed Friday.
Published 09 Jun, 2007 12:00am
German industrial output decline flags softer growth

German industrial output decline flags softer growth

A sharp decline in German industrial output in April and a levelling off in foreign demand appeared to signal the recent growth spurt in Europe's largest economy slipped down a gear this spring.
Published 09 Jun, 2007 12:00am
US trade deficit shrinks to $58.5 billion

US trade deficit shrinks to $58.5 billion

The US trade deficit dropped to 58.5 billion dollars in April as Americans slashed spending on imports, including oil, pointing to fresh signs of recovery in the world's biggest economy. However, the gap with China rose by 2.2 billion dollars, adding furt
Published 09 Jun, 2007 12:00am
South Africa deploys troops as civil servants strike

South Africa deploys troops as civil servants strike

Uniformed South African soldiers helped doctors tend to patients in the country's biggest hospital on Friday as the government vowed to assert control over a crippling week-old civil servant strike.
Published 09 Jun, 2007 12:00am
Lamy says deal 'within reach'

Lamy says deal 'within reach'

World Trade Organisation (WTO) chief Pascal Lamy told the Group of Eight on Friday that a global free trade deal was "now within reach" if each helped to bridge remaining gaps.
Published 09 Jun, 2007 12:00am
Developing countries divided on WTO industrial cuts

Developing countries divided on WTO industrial cuts

Leading developing countries were deeply divided on Friday over how far to cut industrial goods tariffs as the World Trade Organisation (WTO) intensifies its search for a long-elusive global free trade deal.
Published 09 Jun, 2007 12:00am
G8 appeals for WTO trade deal

G8 appeals for WTO trade deal

G8 leaders called for a prompt conclusion to long-delayed global free trade talks on Friday and the head of the European Commission and the WTO both expressed optimism that a deal could be done.
Published 09 Jun, 2007 12:00am
Swedish jobless lowest in 16 years

Swedish jobless lowest in 16 years

Sweden's unemployment rate fell to 3.3 percent in May, its lowest level in 16 years, the AMS state labour board said on Friday. In April, the registered jobless rate was 3.7 percent. While AMS data is based on the number of registered jobless, the statist
Published 09 Jun, 2007 12:00am
IMF sounds alarm over debt-fuelled mergers

IMF sounds alarm over debt-fuelled mergers

IMF chief Rodrigo Rato said on Friday he feared corporate marriages built on big debts in a recent spate of mergers could end in tears. Rising interest rates could spell trouble for more highly leveraged mergers and acquisitions, he said.
Published 09 Jun, 2007 12:00am
Canada adds fewer jobs than expected in May

Canada adds fewer jobs than expected in May

Canada's economy added fewer jobs than expected in May but a still-tight labour market plus decent trade and housing data published on Friday will likely keep the Bank of Canada on track to hike interest rates.
Published 09 Jun, 2007 12:00am
EU ministers forced to plug Galileo funding gap

EU ministers forced to plug Galileo funding gap

European ministers conceded failure on Friday in their search for private funding for the struggling Galileo satellite navigation system and said they would have to cough up more cash from public coffers.
Published 09 Jun, 2007 12:00am
Taiwan stocks down from seven-year high

Taiwan stocks down from seven-year high

Taiwan stocks fell 0.65 percent on Friday, tracking a drop on Wall Street, with the technology index sliding ahead of key sales data from TSMC and UMC, the world's top two contract chip makers. The main TAIEX share index ended down 54.55 points at 8,300.7
Published 09 Jun, 2007 12:00am
Malaysian shares dip

Malaysian shares dip

Malaysian share prices closed 0.88 percent lower on Friday in line with the weaker regional markets after Wall Street fell sharply overnight, dealers said. They said sentiment was also undermined by the ringgit, which weakened on foreign investors unwindi
Published 09 Jun, 2007 12:00am
Hong Kong shares in worst drop since April

Hong Kong shares in worst drop since April

Hong Kong stocks fell 1.4 percent on Friday as a slide on Wall Street amid inflation and interest rate worries prompted investors to sell across the board, with rate-sensitive property stocks among the hardest hit. Friday marked the worst one-day percenta
Published 09 Jun, 2007 12:00am
US stocks tumble as bond yields soar

US stocks tumble as bond yields soar

US stocks tumbled on Thursday as Treasury yields surged above 5 percent, reinforcing fears that global inflation would force borrowing costs to rise. Shares of companies that pay high dividends, including telecommunications provider AT&T Inc and utilities
Published 09 Jun, 2007 12:00am
US Treasuries slip on fears

US Treasuries slip on fears

US Treasury debt prices collapsed on Thursday as benchmark yields posted their largest one-day spike in three years, spurred by fears of tighter monetary policy world-wide. The market plunge was initiated by an unlikely source, New Zealand, whose central
Published 09 Jun, 2007 12:00am
US Treasuries slip on fears

US Treasuries slip on fears

US Treasury debt prices collapsed on Thursday as benchmark yields posted their largest one-day spike in three years, spurred by fears of tighter monetary policy world-wide. The market plunge was initiated by an unlikely source, New Zealand, whose central
Published 09 Jun, 2007 12:00am
Indian shares sag

Indian shares sag

Indian share prices fell 0.86 percent in volatile trade on Friday as investors chose to unwind positions ahead of the weekend, dealers said. They said software stocks gained due to a weak rupee against the dollar, while automobile and steel stocks fell on
Published 09 Jun, 2007 12:00am
Thai shares plunge

Thai shares plunge

Thai share prices closed 0.90 percent lower on Friday in line with a drop on Wall Street as investors remained jittery over higher US interest rates, dealers said. They said foreign investors led selling as key regional markets in Hong Kong, Japan and Sin
Published 09 Jun, 2007 12:00am
Singapore shares drop

Singapore shares drop

Singapore share prices closed 1.54 percent lower Friday after fears of possible hikes in global interest rates sparked a sell-off in the US, Europe and Asia, dealers said. The Straits Times Index closed down 54.74 points at 3,491.59. Volume traded was 4.2
Published 09 Jun, 2007 12:00am
Jakarta shares weaken

Jakarta shares weaken

Indonesian share prices closed 1.88 percent lower on Friday after a slide on Wall Street overnight sent many Asian markets into negative territory, dealers said. They said a weaker rupiah was also seen weighing on domestic sentiment.
Published 09 Jun, 2007 12:00am
Nikkei falls as rate concerns hit property stocks

Nikkei falls as rate concerns hit property stocks

The Nikkei lost 1.52 percent on Friday as concerns about rising interest rates hit property firms, often laden with debt, and Honda Motor Co Ltd and other exporters slipped after US and European stocks fell. Credit Saison Co Ltd and other consumer finance
Published 09 Jun, 2007 12:00am
Philippines shares close flat

Philippines shares close flat

Philippines share prices closed flat on Friday as bargain-hunters emerged in late trade and picked up stocks battered by Wall Street's overnight slump, dealers said. They said this enabled the local market to cut early losses, which were in line with a se
Published 09 Jun, 2007 12:00am
Chinese stock index rises

Chinese stock index rises

China's main stock index rose 0.57 percent on Friday, climbing for the fourth straight day after a plunge triggered by last week's trading tax hike. But banks fell, and many traders doubted the rally would continue.
Published 09 Jun, 2007 12:00am
Mauritius aims for zero unemployment by 2014

Mauritius aims for zero unemployment by 2014

Mauritius is aiming for zero unemployment within seven years, down from the current rate of 9.1 percent, the finance ministry said on Thursday. Once a high-growth African economy, the Indian Ocean island nation faces mounting oil prices and the loss of tr
Published 09 Jun, 2007 12:00am
OECD sees moderate growth for main industrialised economies

OECD sees moderate growth for main industrialised economies

The world's principal industrialised countries should record "moderate" but mixed economic activity in the months ahead, with improved performances in the United States and Britain and a weaker showing in Japan, the OECD reported on Friday.
Published 09 Jun, 2007 12:00am
ECB seen trying to stall Bulgaria's ERM-2 entry

ECB seen trying to stall Bulgaria's ERM-2 entry

The European Central Bank is reluctant for Bulgaria to join quickly the ERM-2 exchange rate mechanism, a stepping stone to the euro, arguing it needs to catch up more with existing euro zone economies, EU sources said.
Published 09 Jun, 2007 12:00am
Petronas happy to invest in Iran

Petronas happy to invest in Iran

Malaysian state oil firm Petronas is "very happy" with its investment in Iran and is looking for more deals in the upstream, despite the geopolitical risks, its top executive told Reuters on Friday.
Published 09 Jun, 2007 12:00am
TomTom eyes US as strong growth market

TomTom eyes US as strong growth market

Dutch navigation device maker TomTom sees the United States as its strongest growth market and eyes the automobile industry as a key sales channel, the head of its US unit said on Tuesday.
Published 09 Jun, 2007 12:00am
South Africa sees more credit upgrades after Moody's

South Africa sees more credit upgrades after Moody's

South Africa's improved credit outlook from Moody's Investors Service reflected its sound fiscal management and could herald more upgrades from other agencies, the country's top Treasury official said on Tuesday.
Published 09 Jun, 2007 12:00am
UK's top lawyer denies blocking Saudi contract probe

UK's top lawyer denies blocking Saudi contract probe

The British government's top lawyer on Friday denied a newspaper report that he ordered knowledge of secret defence contract payments to be concealed from an international watchdog investigating corruption.
Published 09 Jun, 2007 12:00am
Serb central bank governor may have to step down early

Serb central bank governor may have to step down early

A parliamentary committee on Friday rejected a proposal that Serbia's respected central bank governor should keep his job, raising the prospect that he could be forced to step down 1-1/2 years before his term ends.
Published 09 Jun, 2007 12:00am
US duty threat irresponsible: China steel body

US duty threat irresponsible: China steel body

A move by US steel pipe producers to seek duties on imports from China is "irresponsible," an official at the China Iron and Steel Association said on Friday. US steel pipe producers asked the US Commerce Department on Thursday to impose steep duties on c
Published 09 Jun, 2007 12:00am
Yuan ends down

Yuan ends down

The yuan closed sharply lower against the dollar on Friday, posting its second-biggest two-day drop since its revaluation in July 2005, as the central bank tested the market's ability to cope with volatility while curbing the yuan's gains.
Published 09 Jun, 2007 12:00am
Yen falls as investors hunt for yields

Yen falls as investors hunt for yields

The yen fell broadly on Friday, posting sharp losses against high-yielding currencies as rising global interest rates prompted Japanese investors to dump the yen and buy more foreign assets.
Published 09 Jun, 2007 12:00am
Dollar gains broadly

Dollar gains broadly

The dollar rose against most major currencies on Thursday as expectations for solid global economic growth pushed US government debt yields above 5 percent, providing a big potential draw for foreign investors.
Published 09 Jun, 2007 12:00am
Swiss franc dips against euro

Swiss franc dips against euro

The Swiss franc dipped against the euro and the dollar on Friday but clung on to most of this weeks' gains made on the back of a equity market drop that lead investors to cut back on risky positions like carry trades.
Published 09 Jun, 2007 12:00am
Rupiah, ringgit thumped as Asian currencies lose ground

Rupiah, ringgit thumped as Asian currencies lose ground

The Indonesian rupiah, Malaysian ringgit and Philippine peso led Asian currencies lower on Friday as investors shunned riskier assets on concerns about rising global interest rates. Asian currencies came under selling pressure after a sell-off in US stock
Published 09 Jun, 2007 12:00am
Australian dollar pares losses

Australian dollar pares losses

The Australian dollar nudged up off session lows against the US currency on Friday, supported by more robust domestic economic data and gains against the yen after soft Japanese machinery orders.
Published 09 Jun, 2007 12:00am
Hong Kong dollar succumbs

Hong Kong dollar succumbs

The Hong Kong dollar drifted lower against the US currency on Friday undermined by persistent interest rate arbitrage activities. The currency was trading at 7.8147/49 to the US dollar at 0939 GMT, having touched a low of 7.8155 in the morning session, do
Published 09 Jun, 2007 12:00am
Putin confident, combative at farewell G8 summit

Putin confident, combative at farewell G8 summit

Russian President Vladimir Putin bowed out of his last Group of Eight summit on Friday having achieved his ambition of cementing Russia's place at the top table of world powers - but at a price.
Published 09 Jun, 2007 12:00am
US to temporarily relax some passport rules

US to temporarily relax some passport rules

The United States will temporarily relax rules requiring passports for US citizens travelling by air to Canada, Mexico and the Caribbean because of a huge processing backlog, US officials said on Friday.
Published 09 Jun, 2007 12:00am
Russia blocks G8 moves on Kosovo independence

Russia blocks G8 moves on Kosovo independence

Russia blocked Kosovo's bid for independence from Serbia on Friday at a G8 summit on the Baltic coast, in a public setback for Western leaders who support it and want action this month.
Published 09 Jun, 2007 12:00am
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