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Nov 26, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2007-06-21
JGBs edge up on weak sentiment data

JGBs edge up on weak sentiment data

Japanese government bond futures rose on Wednesday, keeping their distance from a seven-year low as data showing weak business sentiment reinforced the view that the Bank of Japan is in no hurry to lift interest rates.
Published 21 Jun, 2007 12:00am
JGBs edge up on weak sentiment data

JGBs edge up on weak sentiment data

Japanese government bond futures rose on Wednesday, keeping their distance from a seven-year low as data showing weak business sentiment reinforced the view that the Bank of Japan is in no hurry to lift interest rates.
Published 21 Jun, 2007 12:00am
American Express splits consumer units

American Express splits consumer units

American Express Co, the credit card and travel services company, said on Wednesday it will split its operations into consumer and business units rather than by geography, and promoted several executives.
Published 21 Jun, 2007 12:00am
Deutsche Telekom and union agree to cut costs

Deutsche Telekom and union agree to cut costs

Deutsche Telekom and trade union Verdi reached a deal on Wednesday that lets the company slash costs by moving 50,000 staff into new lower-paying service units, ending weeks of bitter stand-off.
Published 21 Jun, 2007 12:00am
US blocks Canada complaint over farm subsidies

US blocks Canada complaint over farm subsidies

The United States on Wednesday blocked a complaint by Canada at the World Trade Organisation which claims that Washington uses "trade-distorting" farm subsidies on products such as corn, trade sources said.
Published 21 Jun, 2007 12:00am
Milan's bourse in alliance talks with LSE

Milan's bourse in alliance talks with LSE

Borsa Italiana is in advanced partnership talks with the London Stock Exchange in a deal that would give London greater weight but leave some autonomy to Milan, a source close to the situation said on Wednesday.
Published 21 Jun, 2007 12:00am
British public finances worsen

British public finances worsen

British public sector net borrowing worsened unexpectedly in May, official data showed on Wednesday, one week before finance minister Gordon Brown becomes prime minister.
Published 21 Jun, 2007 12:00am
Thousands of South Korea farmers slam US accord

Thousands of South Korea farmers slam US accord

Thousands of South Korean farmers protested on Wednesday a sweeping free trade agreement with the United States ahead of a review this week by the two sides.
Published 21 Jun, 2007 12:00am
Chrysler to increase global dealerships

Chrysler to increase global dealerships

Chrysler Group said on Wednesday it plans to add about 100 new dealerships in established markets such as Western Europe over the next two years, as it focuses on expanding sales outside North America.
Published 21 Jun, 2007 12:00am
Bangladesh gets $377 million power and water loans

Bangladesh gets $377 million power and water loans

The World Bank has agreed to lend Bangladesh $102 million for a water project that could benefit two million households and $275 million to held reduce the country's power deficit.
Published 21 Jun, 2007 12:00am
Bank of England set to raise rates to 5.75 percent next month

Bank of England set to raise rates to 5.75 percent next month

The Bank of England will raise interest rates again in July and there is a significant chance they will go to 6.0 percent this year, a Reuters poll showed after unexpectedly hawkish minutes from this month's rate-setting meeting.
Published 21 Jun, 2007 12:00am
FedEx profit misses view

FedEx profit misses view

Package delivery company FedEx Corp on Wednesday reported a profit and gave a quarterly forecast that missed expectations, citing slowing US economic growth, but a solid full-year outlook sent its stock up more than 2 percent.
Published 21 Jun, 2007 12:00am
FedEx profit misses view

FedEx profit misses view

Package delivery company FedEx Corp on Wednesday reported a profit and gave a quarterly forecast that missed expectations, citing slowing US economic growth, but a solid full-year outlook sent its stock up more than 2 percent.
Published 21 Jun, 2007 12:00am
Airbus adds $7.2 billion Indian order to Paris haul

Airbus adds $7.2 billion Indian order to Paris haul

Airbus added more multi-billion dollar orders to its Paris air show haul on Wednesday, but analysts said the bonanza did not herald a new dawn for the troubled European aircraft maker. India's Kingfisher Airlines pledged to spend over $7 billion on new Ai
Published 21 Jun, 2007 12:00am
EU and US reach preliminary deal on SWIFT data

EU and US reach preliminary deal on SWIFT data

The EU and the United States have reached a preliminary deal on how US authorities can consult data from the international banking network SWIFT in anti-terror investigations, an EU spokesman said on Wednesday.
Published 21 Jun, 2007 12:00am
Nokia reorganises into three units

Nokia reorganises into three units

The world's biggest mobile handset firm, Nokia, announced a reorganisation on Wednesday aimed at taking advantage of future growth areas and increasing its efficiency. The Finnish-based firm will divide into three units - Devices, Services & Software and
Published 21 Jun, 2007 12:00am
Lamy warns of globalisation's dark side

Lamy warns of globalisation's dark side

Globalisation has lifted millions out of poverty and had many positive effects, but it has a dark side and free trade does not always mean economic growth, World Trade Organisation head Pascal Lamy said on Wednesday.
Published 21 Jun, 2007 12:00am
Politics spoils the party for Russian stocks

Politics spoils the party for Russian stocks

Russia's stock market has rediscovered political risk and buyers are unlikely to return in force until fraught relations with the West improve and the identity of the next Kremlin leader is known, investors say.
Published 21 Jun, 2007 12:00am
Kranjec vows tough line on inflation

Kranjec vows tough line on inflation

New European Central Bank Governing Council member Marko Kranjec told Reuters on Tuesday that he is a hawk and a great opponent of inflation. Slovenia's parliament voted Kranjec in as head of the country's central bank late on Tuesday, and with that he ta
Published 21 Jun, 2007 12:00am
German group urges Arabs to emulate Algeria solar plan

German group urges Arabs to emulate Algeria solar plan

Opec member Algeria's plan to generate solar power for export and domestic use is an excellent innovation that other Arab states would do well to emulate, a renewable energy advocacy group said on Tuesday.
Published 21 Jun, 2007 12:00am
South Africa gives unions deadline to accept wage deal

South Africa gives unions deadline to accept wage deal

South Africa's government gave unions an ultimatum to accept a revised pay offer on Wednesday or make do with a previous lower offer in its final push to end a costly three-week civil service strike. But the largest public service union, which represents
Published 21 Jun, 2007 12:00am
Conservatives want to link GP pay to patient care

Conservatives want to link GP pay to patient care

The pay of family doctors would be linked to patient satisfaction and treatment success under Conservative plans to give GPs greater control of National Health Service spending.
Published 21 Jun, 2007 12:00am
China mining major around the corner

China mining major around the corner

China may yet target a mining major as it scours the world for new sources of natural resources to feed booming domestic demand for raw materials to satisfy infrastructure needs. Its strategy may also speed the emergence of Chinese mining companies big en
Published 21 Jun, 2007 12:00am
Sanofi shares feel weight of possible stake sales

Sanofi shares feel weight of possible stake sales

Sanofi-Aventis shares hit their lowest level in more than two years on Wednesday partly on worries over the possible exit of its main shareholders after it won a lawsuit over its Plavix blockbuster.
Published 21 Jun, 2007 12:00am
Sanofi shares feel weight of possible stake sales

Sanofi shares feel weight of possible stake sales

Sanofi-Aventis shares hit their lowest level in more than two years on Wednesday partly on worries over the possible exit of its main shareholders after it won a lawsuit over its Plavix blockbuster.
Published 21 Jun, 2007 12:00am
Allianz shares rise on Dresdner sale report

Allianz shares rise on Dresdner sale report

Shares in Germany's Allianz rose on Wednesday after a report in a German stock market newsletter that Deutsche Bank was in talks to buy the retail operations of the insurer's Dresdner Bank unit. The report sent shares in Allianz, Europe's biggest insurer,
Published 21 Jun, 2007 12:00am
Allianz shares rise on Dresdner sale report

Allianz shares rise on Dresdner sale report

Shares in Germany's Allianz rose on Wednesday after a report in a German stock market newsletter that Deutsche Bank was in talks to buy the retail operations of the insurer's Dresdner Bank unit. The report sent shares in Allianz, Europe's biggest insurer,
Published 21 Jun, 2007 12:00am
Nokia says road to India villages costly for foes

Nokia says road to India villages costly for foes

Nokia expects its broad sales network, brand cachet and commanding market share to keep it ahead in India despite an aggressive push by rivals into the world's fastest-growing mobile phone market.
Published 21 Jun, 2007 12:00am
Venezuela Orinoco oil talks swing towards governance

Venezuela Orinoco oil talks swing towards governance

Talks between Venezuela and private oil companies over the take-over of four multibillion projects are increasingly focused on how decisions will be made in the future joint ventures, industry officials said.
Published 21 Jun, 2007 12:00am
Much-awaited Mexico tax reform sent to lawmakers

Much-awaited Mexico tax reform sent to lawmakers

Mexican President Felipe Calderon's government on Wednesday submitted to Congress a long-awaited proposal to boost tax income and wean the country of oil revenues. Mexico has one of the lowest tax rates in Latin America, and sorely needs a fiscal overhaul
Published 21 Jun, 2007 12:00am
Taiwan stocks hit fresh seven-year high

Taiwan stocks hit fresh seven-year high

Taiwan stocks rose 2.13 percent to a fresh seven-year closing high on Wednesday, led by gains in big technology firms such as TSMC and financial shares after foreign investors recently stepped up buying.
Published 21 Jun, 2007 12:00am
Malaysian shares up

Malaysian shares up

Malaysian share prices closed 0.69 percent higher on Wednesday due to follow-through buying, with the benchmark setting a fresh record high, dealers said. They said aggressive buying by local funds offset losses posted by plantation stocks as well as some
Published 21 Jun, 2007 12:00am
Hong Kong shares finish at new high

Hong Kong shares finish at new high

Hong Kong equities pushed further into record territory on Wednesday as buyers rushed in to join a rally sustained by more news of Shanghai listings by top Chinese companies, but a weak mainland market shaved the gains in late trade.
Published 21 Jun, 2007 12:00am
US stocks inch higher on lower yields

US stocks inch higher on lower yields

US stocks edged higher on Tuesday as a dip in Treasury bond yields tempered investors' interest-rate worries and boosted financial stocks. One big mover in an otherwise lackluster session was General Electric Co (GE), as shares of the No 2 US company by m
Published 21 Jun, 2007 12:00am
Indian shares led by banks

Indian shares led by banks

Indian share prices rose 0.81 percent on Wednesday in volatile trade led by banks which benefited from strong interest in an share offer by ICICI that opened this week, dealers said. They said funds bought into automobile and telecom stocks too.
Published 21 Jun, 2007 12:00am
US Treasuries rally

US Treasuries rally

US Treasury debt prices rose for a third straight day on Tuesday after data showing the first drop in housing starts since January cemented the view that the housing sector would remain a drag on the economy. Those signs of economic weakness dispelled bon
Published 21 Jun, 2007 12:00am
US Treasuries rally

US Treasuries rally

US Treasury debt prices rose for a third straight day on Tuesday after data showing the first drop in housing starts since January cemented the view that the housing sector would remain a drag on the economy. Those signs of economic weakness dispelled bon
Published 21 Jun, 2007 12:00am
Singapore shares drop

Singapore shares drop

Singapore share prices took a breather and closed lower on Wednesday after three successive trading days of record highs, dealers said. They said overall sentiment remains positive despite the weaker close. The Straits Times Index fell 0.88 points to 3,62
Published 21 Jun, 2007 12:00am
Thai share prices rally

Thai share prices rally

Thai share prices closed 1.74 percent higher on Wednesday as investors took heart from the junta's decision to bring forward elections in November, dealers said. They said sentiment turned upbeat with investors chasing gains in energy and banking stocks.
Published 21 Jun, 2007 12:00am
Philippines shares finish firmer

Philippines shares finish firmer

Philippines share prices rose 1.41 percent on Wednesday to chalk up another record finish with investors positive on the economic outlook, dealers said. The upswing in major Asian markets and in New York overnight buoyed investor sentiment, overshadowing
Published 21 Jun, 2007 12:00am
Tokyo stocks soar

Tokyo stocks soar

The Nikkei climbed 0.26 percent on Wednesday to end at its highest since February as Yokogawa Electric Corp jumped on a report it had won a big order while Olympus Corp and others with exposure to European markets rose with the yen near an all-time low ag
Published 21 Jun, 2007 12:00am
Jakarta shares jump

Jakarta shares jump

Jakarta share prices closed up 0.88 percent on Wednesday with gains in Telkom and cement stocks helping lift the index to a fresh record close for a fourth straight day, dealers said. They said the market was also supported by strength in other East Asian
Published 21 Jun, 2007 12:00am
Yuan ends lower after hitting new high

Yuan ends lower after hitting new high

China's yuan closed slightly weaker against the dollar on Wednesday, relinquishing gains after hitting an intraday post-revaluation high for a sixth session in a row as dealers predicted a near-term correction.
Published 21 Jun, 2007 12:00am
Yen near record low versus euro

Yen near record low versus euro

The yen hovered near an all-time low against the euro and a 4-1/2-year low versus the dollar on Wednesday as investors felt confident in placing carry trades to take advantage of the low-yielding Japanese currency.
Published 21 Jun, 2007 12:00am
Dollar drops versus major rivals

Dollar drops versus major rivals

The dollar slipped against the major currencies on Tuesday as US bond yields continued to fall from five-year highs hit last week, eroding their appeal to foreign investors. At the same time, the euro retreated from a record peak against the yen and tread
Published 21 Jun, 2007 12:00am
Bangladesh interbank rates

Bangladesh interbank rates

Interbank buy/sell rates for the taka against the dollar on Wednesday. 68.86/69.03 (previous 68.90/69.08) Call Money Rates: 6.50-10.75 percent (previous 6.50-10.00 percent.
Published 21 Jun, 2007 12:00am
Asian currencies: rupiah recovers

Asian currencies: rupiah recovers

The rupiah retreated to 8,940 per dollar after briefly hitting 8,875 in early trade. It has largely recovered from a sharp sell-off earlier this month when rising global interest rates prompted investors to limit riskier bets.
Published 21 Jun, 2007 12:00am
Hong Kong dollar rises

Hong Kong dollar rises

The Hong Kong dollar strengthened on Wednesday as some dealers unwound long US dollar positions on the back of a rise in short-term interbank rates amid a steady stream of equity initial public offerings.
Published 21 Jun, 2007 12:00am
Durham reach first final

Durham reach first final

Liam Plunkett took four wickets for 15 and then hit an unbeaten 30 with the bat to send Durham into the county's first Lord's final. The England bowler claimed his career best figures as Essex were skittled for just 71 runs in the semi-final of the Friend
Published 21 Jun, 2007 12:00am
Edwards fined for swearing

Edwards fined for swearing

West Indies fast bowler Fidel Edwards has been fined 15 percent of his match fee by the International Cricket Council for swearing during the final Test against hosts England. "When bowling, and in frustration, Fidel swore loudly enough to be heard by spe
Published 21 Jun, 2007 12:00am
Ukraine discounts UEFA concerns over 2012 stadium

Ukraine discounts UEFA concerns over 2012 stadium

Ukraine's sports minister on Wednesday discounted UEFA suggestions that a row over the state of Kiev's main stadium could hamper the country's ability to co-host the 2012 European Championship finals with Poland.
Published 21 Jun, 2007 12:00am
Austria tighten hooligan laws

Austria tighten hooligan laws

The Austrian government has agreed to introduce new anti-hooligan measures to deal with potential local troublemakers at next year's European Championship finals.
Published 21 Jun, 2007 12:00am
Kenya to stage Twenty20 tournament

Kenya to stage Twenty20 tournament

Kenya will host a four-nation Twenty20 tournament as a warm-up for the inaugural world championships in South Africa in mid-September, cricket officials said on Wednesday. "We will make it a quadrangular tournament involving four national teams," Cricket
Published 21 Jun, 2007 12:00am
Tursunov and Karlovic progress in Nottingham

Tursunov and Karlovic progress in Nottingham

Russian Dmitry Tursunov ended home hope Tim Henman's mini-revival at the Nottingham Open on Wednesday, beating the Briton 7-6 3-6 6-2 to reach the third round.
Published 21 Jun, 2007 12:00am
West Indies need culture change, says Daren Ganga

West Indies need culture change, says Daren Ganga

West Indies cricket needs a culture change if performances are to improve on a consistent basis, stand-in captain Daren Ganga said after their 3-0 series loss to England. West Indies lost the last three Tests in the four-match series with defeat in the se
Published 21 Jun, 2007 12:00am
Henin and Mauresmo enjoy good Eastbourne start

Henin and Mauresmo enjoy good Eastbourne start

Justine Henin began the defence of her Eastbourne International title in fine style on Wednesday, beating Poland's Agnieszka Radwanska 6-4 6-1 and looking every inch a grasscourt player.
Published 21 Jun, 2007 12:00am
Federer and Henin top Wimbledon seeding

Federer and Henin top Wimbledon seeding

Four-times winner Roger Federer was named top seed for the Wimbledon championships with French Open holder Rafael Nadal favourite to meet him in a rematch of last year's final. American Andy Roddick, twice a runner-up at Wimbledon, was third in the seedin
Published 21 Jun, 2007 12:00am
Putin to reform Russian arms exporter

Putin to reform Russian arms exporter

President Vladimir Putin is about to approve a reform of Russia's state arms exporter in a move regarded as a political victory for weapons export chief Sergei Chemezov, a Russian newspaper reported on Wednesday.
Published 21 Jun, 2007 12:00am
Kazakh president's daughter confirms divorce

Kazakh president's daughter confirms divorce

The daughter of Kazakh President Nursultan Nazarbayev confirmed on Wednesday she had filed for divorce from her husband Rakhat Aliyev, a powerful businessman who had fallen out with her father.
Published 21 Jun, 2007 12:00am
BBC man marks 100 days in Gaza captivity

BBC man marks 100 days in Gaza captivity

Hamas said on Wednesday it was working to secure the release of BBC journalist Alan Johnston, whose 100 days of captivity in the hands of Palestinian extremists in the Gaza Strip was marked by journalists and other supporters in world-wide vigils.
Published 21 Jun, 2007 12:00am
Thailand may bring election forward to November 25

Thailand may bring election forward to November 25

Thailand's Election Commission (EC) said on Wednesday it may bring forward a promised December general election to November 25 if a post-coup constitution is approved quickly. Commission officials have said they would like to see a referendum on the const
Published 21 Jun, 2007 12:00am
Australia navy to buy $9 billion warship fleet

Australia navy to buy $9 billion warship fleet

Australia will build an A$11 billion ($9 billion) fleet of advanced destroyers and amphibious warships, Prime Minister John Howard said, underscoring the country's plan to remain a key Asian military power.
Published 21 Jun, 2007 12:00am
China vows nation-wide crackdown on slave abuses

China vows nation-wide crackdown on slave abuses

China announced a nation-wide crackdown on enslavement and child labour on Wednesday, in the highest admission yet of grim exploitation in rural brick kilns where official complicity has been charged.
Published 21 Jun, 2007 12:00am
Sierra Leone court delivers first war crimes verdicts

Sierra Leone court delivers first war crimes verdicts

Sierra Leone's special war crimes court handed down its first verdicts on Wednesday, finding three leaders of a militia guilty of war crimes that included killing, raping and mutilating civilians.
Published 21 Jun, 2007 12:00am
Supporters barred from visiting Hasina

Supporters barred from visiting Hasina

Bangladesh's army-backed interim government has barred party colleagues from visiting former prime minister Sheikh Hasina, a spokesman for the politician said on Wednesday. Police have not allowed anyone except Hasina's close relatives to enter her Dhaka
Published 21 Jun, 2007 12:00am
Israel attacks Gaza; contacts new government

Israel attacks Gaza; contacts new government

Israel attacked fighters in Gaza on Wednesday for the first time since Hamas seized the territory, and ended an embargo of the Palestinian Authority by opening contacts with a new government in the occupied West Bank.
Published 21 Jun, 2007 12:00am
Kazakhstan parliament dissolved

Kazakhstan parliament dissolved

Kazakh President Nursultan Nazarbayev dissolved parliament on Wednesday and called an early election on August 18. to speed the passage of political reforms.
Published 21 Jun, 2007 12:00am
Three Canadians among eight killed in Afghanistan

Three Canadians among eight killed in Afghanistan

A series of roadside bombings in Afghanistan Wednesday killed eight people, including three Canadian Nato soldiers, in new attacks linked to a growing Taliban insurgency. A district chief in southern Kandahar province said meanwhile police had killed 21 T
Published 21 Jun, 2007 12:00am
Renewable energy investment tops $100 billion: UN

Renewable energy investment tops $100 billion: UN

Investment in renewable energies such as wind power and biofuels leapt to a record $100 billion in 2006 and worries about global warming are likely to sustain the boom, a UN report said on Wednesday.
Published 21 Jun, 2007 12:00am
Libya sets July 11 for HIV nurses ruling

Libya sets July 11 for HIV nurses ruling

Libya's Supreme Court will rule on July 11 on an appeal by six foreign medics sentenced to death for infecting Libyan children with HIV, marking the final stage of a trial that has affected Libya's ties with the West.
Published 21 Jun, 2007 12:00am
Sudan frees four journalists

Sudan frees four journalists

Sudanese authorities on Wednesday released four journalists detained a week ago trying to report on violent protests against the construction of a new dam in the Kajbar area in northern Sudan. Five other people, including three lawyers, arrested along wit
Published 21 Jun, 2007 12:00am
30 insurgents killed in Iraq

30 insurgents killed in Iraq

US and Iraqi troops stepped up a massive offensive against suspected al Qaeda strongholds northeast of Baghdad on Wednesday, killing at least 30 alleged insurgents, the US military said. The launch of the operation on Tuesday was followed by a massive tru
Published 21 Jun, 2007 12:00am
North Korea talks likely to resume in early July: US

North Korea talks likely to resume in early July: US

Washington's top nuclear envoy said Wednesday stalled six-party talks on North Korea's nuclear arms programme are likely to resume in early July, but Pyongyang must keep its promise to shut down a nuclear reactor.
Published 21 Jun, 2007 12:00am
30 Tamil Tigers killed

30 Tamil Tigers killed

Sri Lankan troops killed around 30 Tamil Tigers in a clash overnight in jungle in the island's restive east, the military said on Wednesday, hours after the navy said it had killed around 40 insurgents in a sea battle.
Published 21 Jun, 2007 12:00am
Malaysians and Taliban protest Rushdie title at UK embassy

Malaysians and Taliban protest Rushdie title at UK embassy

Supporters of Malaysia's hard-line party protested outside the British embassy on Wednesday against the award of a knighthood to Salman Rushdie, whose novel the "Satanic Verses" outraged Muslims world-wide.
Published 21 Jun, 2007 12:00am
Indian rupee moves up

Indian rupee moves up

The Indian rupee erased early losses to end higher on Wednesday as capital inflows remained robust and worries of central bank intervention faded amid ample cash in the banking system. The partially convertible rupee ended at 40.75/76 per dollar, higher t
Published 21 Jun, 2007 12:00am
Sterling scales new peaks

Sterling scales new peaks

Sterling scaled new heights against the yen on Wednesday, and also gained on the dollar and euro, after Bank of England minutes ran counter to analysts' forecast and hinted that a rate hike could come as soon as July.
Published 21 Jun, 2007 12:00am
Yen mires near lows in London

Yen mires near lows in London

The low-yielding yen was mired near a record low against the euro and a 4-1/2 year trough versus the dollar on Wednesday, while sterling rose across the board after surprisingly hawkish Bank of England minutes.
Published 21 Jun, 2007 12:00am
Bonds: British Airways CDS tightens

Bonds: British Airways CDS tightens

British Airways was the name on trader's lips on Wednesday after Standard and Poor's raised the ratings of Europe's third largest airline to investment grade for the first time in four years. S&P lifted British Airways' long-term corporate credit rating o
Published 21 Jun, 2007 12:00am
Bonds: British Airways CDS tightens

Bonds: British Airways CDS tightens

British Airways was the name on trader's lips on Wednesday after Standard and Poor's raised the ratings of Europe's third largest airline to investment grade for the first time in four years. S&P lifted British Airways' long-term corporate credit rating o
Published 21 Jun, 2007 12:00am
Chinese shares tumble

Chinese shares tumble

Chinese main stock index tumbled more than 2 percent on Wednesday as investors worried that the market could be dampened by large supplies of new shares in coming months. Oil giant PetroChina said on Wednesday that it planned an initial public offer in Sh
Published 21 Jun, 2007 12:00am
US Stocks: Wednesday's early afternoon trade

US Stocks: Wednesday's early afternoon trade

US stocks fell on Wednesday, hurt by a decline in heavily-weighted energy shares and climbing bond yields, which reignited concerns about higher interest rates and their impact on corporate profits.
Published 21 Jun, 2007 12:00am
Seoul shares drop

Seoul shares drop

Seoul shares fell 1.3 percent on Wednesday, suffering its first loss in five sessions to end below the 1,800-point level, as brokerages fell on worries that take-overs in the sector will fetch less than expected.
Published 21 Jun, 2007 12:00am
FTSE flat on rate concerns

FTSE flat on rate concerns

Britain's top share index closed flat on Wednesday, underperforming other European markets, as interest-rate worries dampened sentiment and retailers including Morrison and Tesco fell. The FTSE 100 index closed little changed at 6,649.3, with bid speculat
Published 21 Jun, 2007 12:00am
Japan's gold-linked ETF to be launched in July

Japan's gold-linked ETF to be launched in July

Japan's first exchange traded fund (ETF) linked to a yen-based gold price index may be ready for launch in July-September, the Osaka Securities Exchange Co Ltd, Japan's No 2 bourse, said on Wednesday.
Published 21 Jun, 2007 12:00am
US ethanol profits crumble as industry races ahead

US ethanol profits crumble as industry races ahead

After two years of sterling profits, the US ethanol industry is staggering into a phase where margins are crumbling as more plants come onstream, and further declines could be on the horizon.
Published 21 Jun, 2007 12:00am
Brent crude falls on swelling US inventories

Brent crude falls on swelling US inventories

Oil fell 2 percent on Wednesday as US gasoline stocks rose and crude inventories hit a nine-year high, easing supply concerns in the world's top consumer. London Brent crude settled down $1.42 to $70.42 a barrel after falling as low as $69.56 earlier. Bre
Published 21 Jun, 2007 12:00am
Egypt cancels soyabeans tender

Egypt cancels soyabeans tender

Egypt's state-owned Food Industries Company said on Wednesday it had cancelled a tender for 30,000 tonnes of soyabeans, saying prices were too high. "In fact, we cancelled the tender because the prices are high. It was not convenient for us," a company of
Published 21 Jun, 2007 12:00am
New York cotton jumps to three-month high

New York cotton jumps to three-month high

Cotton futures jumped on aggressive speculative fund buying to finish on Wednesday at a three-month high, but brokers said further gains seems out of reach because the rally is overdone. The New York Board of Trade's open-outcry July cotton contract went
Published 21 Jun, 2007 12:00am
Morocco's soft wheat imports to triple

Morocco's soft wheat imports to triple

Morocco, one of the largest North African state cereals importers, will triple imports of soft milling wheat in 2007/08, the country's millers group said on Wednesday.
Published 21 Jun, 2007 12:00am
Lead hits new record high, nickel declines

Lead hits new record high, nickel declines

London Metal Exchange lead touched a new record high on Wednesday, lifted by low stockpiles, while nickel fell by over three percent following the previous session's heavy losses.
Published 21 Jun, 2007 12:00am
European gold hovers below two-week high

European gold hovers below two-week high

Gold traded just below the previous day's two-week highs on Wednesday, but sentiment was friendly and traders said the precious metal had a good chance of adding to recent gains. Spot gold was quoted at $657.90/658.50 an ounce by 1426 GMT, compared with $
Published 21 Jun, 2007 12:00am
US MIDDAY: corn turns higher

US MIDDAY: corn turns higher

Corn futures at the Chicago Board of Trade were higher at midday on Wednesday on forecasts for drier weather in the eastern US Midwest next week, traders said.
Published 21 Jun, 2007 12:00am
US MIDDAY: wheat sharply up

US MIDDAY: wheat sharply up

Soft red winter wheat futures at the Chicago Board of Trade were up sharply past midday on Wednesday, with nearby months at times rising the 30-cent daily trading limit, on US supply concerns, traders said.
Published 21 Jun, 2007 12:00am
US MIDDAY: soybeans soar

US MIDDAY: soybeans soar

Soybean futures on the Chicago Board of Trade soared early on Wednesday as firms covered short positions amid extended forecasts for drier weather in the eastern US Midwest, which has received limited rains this season, traders said.
Published 21 Jun, 2007 12:00am
US MIDDAY: copper seesaws

US MIDDAY: copper seesaws

US copper futures erased earlier gains, bobbing above and below the unchanged level in early trade on Wednesday, as the market looked to consolidate after two straight days of losses, traders said.
Published 21 Jun, 2007 12:00am
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