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Nov 25, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2007-08-07
Indian sugar futures rise

Indian sugar futures rise

Indian sugar futures rose on Monday after monsoon rains disrupted physical supplies and triggered short-covering in a market that had fallen about 1.5 percent last week. At 2:40 pm (0910 GMT), the August contract was up 0.63 percent at 1,285 rupees ($31.8
Published 07 Aug, 2007 12:00am
SECP suspends HBL shares trading

SECP suspends HBL shares trading

The Securities and Exchange Commission of Pakistan (SECP) has ordered the temporary suspension of trading in the Habib Bank Limited's shares for Monday (August 6) on the provisionally listed counter of the exchange. The SECP took this decision in exercise
Published 07 Aug, 2007 12:00am
Shanghai copper tumbles

Shanghai copper tumbles

Shanghai copper futures fell 3 percent on Monday, following losses in London and jitters in equity and other commodities markets on concerns about the US economy. Confidence in global markets, including commodities and equities, has been seriously dented
Published 07 Aug, 2007 12:00am
Steel prices up by Rs 7000 per ton

Steel prices up by Rs 7000 per ton

The new government taxes have pushed up steel prices by Rs 5000 to 7000 per ton during June-July this year for the end buyers. Its another negative impact is slowing down of housing and construction activities. The price of steel (40 grade) and (60 grade)
Published 07 Aug, 2007 12:00am
Gold off one-week high

Gold off one-week high

Gold dipped in profit taking on Monday after touching a one-week high last week, while Tokyo futures fell on a firmer yen. Spot gold fell to $671.90/672.40 an ounce, from $674.10/674.90 late in New York on Friday, when it hit its highest in a week at $674
Published 07 Aug, 2007 12:00am
Steel prices up by Rs 7000 per ton

Steel prices up by Rs 7000 per ton

The new government taxes have pushed up steel prices by Rs 5000 to 7000 per ton during June-July this year for the end buyers. Its another negative impact is slowing down of housing and construction activities. The price of steel (40 grade) and (60 grade)
Published 07 Aug, 2007 12:00am
CBOT soyabeans fall

CBOT soyabeans fall

Chicago Board of Trade soyabean futures fell 1.8 percent on Monday as forecasts for wet weather in the US Midwest weighed, traders said. August soyabean in after-hours electronic trade on the CBOT fell as much as 15 cents to $8.24 per bushel.
Published 07 Aug, 2007 12:00am
Steel prices up by Rs 7000 per ton

Steel prices up by Rs 7000 per ton

The new government taxes have pushed up steel prices by Rs 5000 to 7000 per ton during June-July this year for the end buyers. Its another negative impact is slowing down of housing and construction activities. The price of steel (40 grade) and (60 grade)
Published 07 Aug, 2007 12:00am
Oil extends decline, falls one percent

Oil extends decline, falls one percent

Oil prices fell over 1 percent to about $74 a barrel in trade on Monday, extending the previous session's decline, which saw prices dragged down by poor US economic data. US crude, which fell as much as 91 cents, or 1.2 percent in trade, reversed some los
Published 07 Aug, 2007 12:00am
Morocco tenders to import EU soft wheat

Morocco tenders to import EU soft wheat

Morocco's state grains agency ONICL has issued a tender to import 350,000 tonnes of European Union soft wheat, European traders said on Monday. Bidding deadline is Wednesday (August 8). Shipment date was not specified but was thought to be between October
Published 07 Aug, 2007 12:00am
Higher trend on Asia-Pacific crude market

Higher trend on Asia-Pacific crude market

The Asia-Pacific crude market rose on Monday, with October-loading Sokol kicking off at a record-high premium on a lack of arbitrage alternatives, traders said. More direction was also expected from an Indonesian tender to sell Duri crude.
Published 07 Aug, 2007 12:00am
Indonesia crude palm oil sees no auctions

Indonesia crude palm oil sees no auctions

The Indonesian crude palm oil market saw no deals on Monday, shrugging off a plunge in Malaysian palm oil futures, as investors waited to see whether prices would rebound. In Jakarta, the state marketing centre failed to sell 6,000 tonnes of crude palm oi
Published 07 Aug, 2007 12:00am
Malaysian tin falls

Malaysian tin falls

Malaysian tin fell $1 on Monday, despite a sharp rise in London Metal Exchange prices as a lack of Buyers weighed on the market, one dealer said.
Published 07 Aug, 2007 12:00am
Russia harvests 35.1 million tonnes grain

Russia harvests 35.1 million tonnes grain

Russia has harvested 35.1 million tonnes of grain so far this year, 20.5 percent or 7.2 million hectares more than a year ago, as the campaign got off to an early start in some regions, the Agriculture Ministry said on Monday.
Published 07 Aug, 2007 12:00am
Tokyo rubber falls

Tokyo rubber falls

Tokyo rubber futures fell as much as 2 percent on Monday after a decline in crude oil prices and a firm yen sparked selling from investors. The most-active rubber contract on the Tokyo Commodity Exchange for January 2008 delivery ended the session down 3.
Published 07 Aug, 2007 12:00am
Malaysian palm oil sinks four percent

Malaysian palm oil sinks four percent

Malaysian crude palm oil futures plunged 4 percent on Monday, to touch a two-week low, dragged down by declining prices of rival soyabean oil and crude oil. Traders said losses deepened as a top Singapore edible oil-trading firm sold heavily.
Published 07 Aug, 2007 12:00am
India and Nepal trade blame for worst flooding in decades

India and Nepal trade blame for worst flooding in decades

India and Nepal blamed each other Monday for some of the worst flooding in South Asia in decades, which has affected 25 million people and left rescuers scrambling to help victims. Officials in Bihar, the Indian state worst affected by the inundation, sai
Published 07 Aug, 2007 12:00am
Nokia and Microsoft to boost mobile entertainment

Nokia and Microsoft to boost mobile entertainment

Mobile-phone giant Nokia will start to use Microsoft's copy protection software to boost the use of wireless entertainment, like music and videos, the two companies said on Monday. Microsoft's technology allows users of Nokia cellphones to share protected
Published 07 Aug, 2007 12:00am
EU bans UK livestock, meat and dairy exports

EU bans UK livestock, meat and dairy exports

The European Union slapped a ban on Monday on all British exports of fresh meat, live animals and milk products following the country's recent outbreak of foot-and-mouth disease (FMD), the European Commission said.
Published 07 Aug, 2007 12:00am
Smuggled dinosaur egg returned to Argentina

Smuggled dinosaur egg returned to Argentina

A dinosaur egg discovered during a crackdown in Australia on the illegal fossil trade was returned Monday to the country where it spent the first 72 million years of its life, Argentina. The plant-eating Titanosaurus' egg, which weighs eight kilogrammes (
Published 07 Aug, 2007 12:00am
Russia cancels 90 percent of Afghan debt

Russia cancels 90 percent of Afghan debt

Russia on Monday signed a deal cancelling 90 percent of Afghanistan's Soviet-era debt, worth about 10 billion dollars, in a boost for the war-ravaged country. "Ninety percent has been written off" from the 11.13-billion dollar debt,Finance Minister Alexei
Published 07 Aug, 2007 12:00am
German rail system faces severe strike disruption

German rail system faces severe strike disruption

The German rail network is set to be hit by widespread disruption after train drivers voted on Monday in favour of what could be the most serious rail strike for 15 years. More than 95 percent of drivers voted to stage a walkout, possibly starting on Wedn
Published 07 Aug, 2007 12:00am
Opposition wary of favourite Muto as BoJ governor

Opposition wary of favourite Muto as BoJ governor

Japan's main opposition party is likely to oppose the idea of Toshiro Muto becoming the country's next central bank governor because he is a former finance ministry official, a leading party figure said on Monday. Muto, currently a deputy governor, is wid
Published 07 Aug, 2007 12:00am
Bear Stearns executive resigns

Bear Stearns executive resigns

Senior executive Warren Spector announced his resignation from the investment banker Bear Stearns, shaken by troubles linked to the fraught US subprime mortgage market, the firm said Sunday.
Published 07 Aug, 2007 12:00am
Wal-Mart enters India with Bharti wholesale deal

Wal-Mart enters India with Bharti wholesale deal

Wal-Mart Stores Inc and Bharti Enterprises signed a much-delayed agreement on Monday that gives the world's largest retailer a foothold in the fast-growing but highly controlled Indian market. The equal joint venture, Bharti Wal-Mart Private Ltd, is for c
Published 07 Aug, 2007 12:00am
Fortis wins shareholder backing for ABN take-over

Fortis wins shareholder backing for ABN take-over

Belgian-Dutch financial group Fortis won overwhelming shareholder approval on Monday to raise 13 billion euros ($18 billion) to finance its part of a three-bank bid for ABN Amro. Fortis, Royal Bank of Scotland and Spain's Santander have offered 71 billion
Published 07 Aug, 2007 12:00am
Serbia and central bank clash over policy direction

Serbia and central bank clash over policy direction

Serbia's government and the central bank clashed over policy on Monday, with the cabinet wanting an easing of interest rates and the bank refusing changes which it fears would feed inflation and weaken the dinar.
Published 07 Aug, 2007 12:00am
AFDB to lend $50 million for Africa satellite link

AFDB to lend $50 million for Africa satellite link

The African Development Bank (AfDB) has approved a $50 million loan towards the construction of a satellite to boost communications in Africa's rural areas, the bank said.
Published 07 Aug, 2007 12:00am
World Bank chief praises Vietnam's war on poverty

World Bank chief praises Vietnam's war on poverty

World Bank President Robert Zoellick on Monday praised Vietnam as a "tremendous success story" in fighting poverty but said institutional reforms were needed as it seeks middle-income country status. Zoellick, on his first Asia trip since taking office la
Published 07 Aug, 2007 12:00am
South Korea June money growth hits 4-1/2 years high

South Korea June money growth hits 4-1/2 years high

South Korea's money supply in June grew at its fastest annual pace in almost 4-1/2 years, data showed on Monday, providing the already hawkish central bank with more ammunition just days before a monthly interest rate review.
Published 07 Aug, 2007 12:00am
Pacra maintains IFS rating

Pacra maintains IFS rating

The Pakistan Credit Rating Agency (Pacra) has maintained Insurer Financial Strength rating of Shaheen Insurance Company Limited (SIC) at 'A-' (Single A Minus). The rating denotes strong capacity to meet policyholder and contract obligations.
Published 07 Aug, 2007 12:00am
Pacra maintains IFS rating

Pacra maintains IFS rating

The Pakistan Credit Rating Agency (Pacra) has maintained Insurer Financial Strength rating of Shaheen Insurance Company Limited (SIC) at 'A-' (Single A Minus). The rating denotes strong capacity to meet policyholder and contract obligations.
Published 07 Aug, 2007 12:00am
Rupali Bank branch at KSE

Rupali Bank branch at KSE

Arif Habib Rupali Bank inaugurated its full-service branch at the Karachi Stock Exchange on Monday, August. Shaukat Tarin, Chairman Karachi Stock Exchange was the chief guest for the ribbon cutting ceremony.
Published 07 Aug, 2007 12:00am
China air passenger traffic up 17 percent

China air passenger traffic up 17 percent

Chinese airlines carried 16.7 percent more passengers and 15.3 percent more cargo in the first half of the year than a year earlier, the country's aviation regulator said.
Published 07 Aug, 2007 12:00am
Telenet details fourth quarter cash payout

Telenet details fourth quarter cash payout

Belgian cable operator Telenet gave details on Monday of a cash payout to shareholders signalled previously, and posted second-quarter core profit slightly above market expectations as customers used more of its services.
Published 07 Aug, 2007 12:00am
Telenet details fourth quarter cash payout

Telenet details fourth quarter cash payout

Belgian cable operator Telenet gave details on Monday of a cash payout to shareholders signalled previously, and posted second-quarter core profit slightly above market expectations as customers used more of its services.
Published 07 Aug, 2007 12:00am
French bank Natixis sees little subprime impact

French bank Natixis sees little subprime impact

French bank Natixis said on Monday that problems in the US subprime mortgage market would have a limited impact on the group, helping its shares recover from a near 10 percent fall last week. Natixis has a 2.5 percent stake in German bank IKB, which risks
Published 07 Aug, 2007 12:00am
Indonesia seeks clarification over China seafood ban

Indonesia seeks clarification over China seafood ban

.Indonesian authorities were to seek an explanation and further guidance from Beijing Monday over a sudden ban imposed by China on its seafood imports, an official said Monday.
Published 07 Aug, 2007 12:00am
SES core profit rises 10 percent, raises 2007 outlook

SES core profit rises 10 percent, raises 2007 outlook

Leading European satellite operator SES reported a 10 percent rise in first-half core profit on Monday, just above expectations, on the back of an acquisition last year and strong broadcaster demand.
Published 07 Aug, 2007 12:00am
SES core profit rises 10 percent, raises 2007 outlook

SES core profit rises 10 percent, raises 2007 outlook

Leading European satellite operator SES reported a 10 percent rise in first-half core profit on Monday, just above expectations, on the back of an acquisition last year and strong broadcaster demand.
Published 07 Aug, 2007 12:00am
Tata Consultancy targets finance clients

Tata Consultancy targets finance clients

Top Indian software firm Tata Consultancy Services unveiled a new push Monday to get work from banks and finance firms outside the US to lessen its reliance on dollar billing.
Published 07 Aug, 2007 12:00am
Takeovers spell end of soccer's Premiership publicly listed club

Takeovers spell end of soccer's Premiership publicly listed club

As English soccer clubs are being taken over by foreign billionaires, the era of stock market- listed clubs could soon be over with a new wave of owners opting to stay out of the financial spotlight. But if fans, politicians and newspapers take moral umbr
Published 07 Aug, 2007 12:00am
Medecins Sans Frontieres hails Indian court ruling on patents

Medecins Sans Frontieres hails Indian court ruling on patents

.The medical activist movement Medecins Sans Frontieres (Doctors Without Borders) on Monday hailed an Indian court ruling against Swiss pharmaceutical giant Novartis in a patent case as "a major victory" for patients.
Published 07 Aug, 2007 12:00am
Munich Re ups 2007 target, unfazed by subprime woes

Munich Re ups 2007 target, unfazed by subprime woes

Munich Re raised its 2007 earnings target on Monday on the back of lower taxes and said its cautious investing largely insulated it from problems in the US subprime mortgage market.
Published 07 Aug, 2007 12:00am
Munich Re ups 2007 target, unfazed by subprime woes

Munich Re ups 2007 target, unfazed by subprime woes

Munich Re raised its 2007 earnings target on Monday on the back of lower taxes and said its cautious investing largely insulated it from problems in the US subprime mortgage market.
Published 07 Aug, 2007 12:00am
Chinese police seize snow leopard furs

Chinese police seize snow leopard furs

.Chinese police have seized 104 furs of rare animals, including the largest-ever haul of skins from the endangered snow leopard, state media reported on Monday. Police tracked down a fur dealer in the north-western province of Gansu and found 27 snow leop
Published 07 Aug, 2007 12:00am
Africa won't impose windfall tax on synfuel firms

Africa won't impose windfall tax on synfuel firms

South Africa will not impose a windfall tax on synthetic fuel producers such as Sasol and PetroSA, the National Treasury said on Monday. "(The) government has also decided not to proceed with a tax on the windfall profits earned by existing synthetic fuel
Published 07 Aug, 2007 12:00am
Chinese bank eyes $20 billion injection

Chinese bank eyes $20 billion injection

China Development Bank, one of the country's three policy lenders, is hoping to receive a government capital injection of at least $20 billion as part of its transformation into a commercial bank, the China Daily said on Monday. The bank's proposed restru
Published 07 Aug, 2007 12:00am
Thai share prices 2.61 percent down

Thai share prices 2.61 percent down

Thai share prices closed 2.61 percent lower on Monday amid a regional sell-off as investors worried over the fallout from US mortgage problems, dealers said. They said Thailand's constitutional referendum on August 19 also raised political concerns that p
Published 07 Aug, 2007 12:00am
Malaysian shares fall

Malaysian shares fall

Malaysian share prices closed sharply lower on Monday on panic selling after the US market tumbled last week on poor jobs data and fears over its mortgage industry, dealers said. The Kuala Lumpur Composite Index (KLCI) closed down 44.52 points or 3.3 perc
Published 07 Aug, 2007 12:00am
Hong Kong stocks tumble

Hong Kong stocks tumble

Financial stocks led a selloff of Hong Kong shares on Monday as investors, spooked by global market turmoil and concerns about the US credit market, cashed out after analysts and traders warned of more pain to come.
Published 07 Aug, 2007 12:00am
JGB futures hit 10-week high

JGB futures hit 10-week high

Japanese government bond futures jumped to their highest level in more than two months on Monday as turmoil in global equity and credit markets prompted investors to seek the safety of government debt. September futures surged 0.55 point to 133.97, the hi
Published 07 Aug, 2007 12:00am
JGB futures hit 10-week high

JGB futures hit 10-week high

Japanese government bond futures jumped to their highest level in more than two months on Monday as turmoil in global equity and credit markets prompted investors to seek the safety of government debt. September futures surged 0.55 point to 133.97, the hi
Published 07 Aug, 2007 12:00am
Seoul shares extend slump

Seoul shares extend slump

Seoul shares extended a recent slump to fall 1.2 percent on Monday, as financials such as Kookmin Bank were hit by worries about global credit conditions, with exporters further dented by weak US jobs data.
Published 07 Aug, 2007 12:00am
Singapore shares slip

Singapore shares slip

Singapore share prices fell 3.7 percent on Monday as rattled investors bailed out on growing concerns over implications stemming from the troubled US sub-prime mortgage market, dealers said. The Straits Times Index (STI) dropped 127.05 points to 3,308.99.
Published 07 Aug, 2007 12:00am
Jakarta shares drop

Jakarta shares drop

Indonesian share prices plunged 3.6 percent on Monday as last week's plunge on Wall Street sparked a sell-off on the local market, dealers said. The Jakarta Stock Exchange composite index closed down 80.68 points at 2,189.11 on volume of 3.7 billion share
Published 07 Aug, 2007 12:00am
Taiwan stocks dip

Taiwan stocks dip

Taiwan shares ended down 1.28 percent at a three-day closing low on Monday, tracking losses on Wall Street as Shin Kong Financial led financial shares lower after saying it was exposed to the US subprime market. The main TAIEX share index dropped 116.09 p
Published 07 Aug, 2007 12:00am
Chinese stocks soar to record high

Chinese stocks soar to record high

China's stock market surged almost 1.5 percent to a record high on Monday, led by steel companies, as investors once again largely ignored weakness in global share markets due to the US subprime mortgage squeeze.
Published 07 Aug, 2007 12:00am
Indian shares weaken

Indian shares weaken

Indian share prices fell 1.55 percent on Monday on continued concern about a possible US credit crunch, dealers said. They said markets recovered from the day's low on bargain hunting, though fresh overseas fund buying was absent.
Published 07 Aug, 2007 12:00am
Nikkei declines amid credit shakeout concerns

Nikkei declines amid credit shakeout concerns

Japan's Nikkei average fell 0.4 percent on Monday as exporters such as Canon Inc lost ground on a tumble on Wall Street and a stronger yen, while financial shares slid again on worries about earnings and a global credit shakeout. But bargain hunting kicke
Published 07 Aug, 2007 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Monday. 68.50/68.52 (previous 68.50/68.51). Call Money Rates: 6.50-10.00 percent (previous 6.50-10.00 percent.
Published 07 Aug, 2007 12:00am
Australian dollar off lows

Australian dollar off lows

The Australian dollar rose off its lows and back towards 86 US cents on Monday on expectations interest rates here will rise this week, though it fell sharply against the yen as regional stock markets wobbled again.
Published 07 Aug, 2007 12:00am
Taiwan dollar weaker

Taiwan dollar weaker

The Taiwan dollar weakened on Monday to a 1-month low on foreign capital outflows, as the local stock market fell in line with signs of weakness in the US mortgage market. Demand for US dollars for oil purchases also pressured the Taiwan dollar, which end
Published 07 Aug, 2007 12:00am
US and New Zealand dollar fall versus yen

US and New Zealand dollar fall versus yen

The dollar tumbled to a four-month low against the yen while the New Zealand dollar fell sharply versus the Japanese currency on Monday as worries about a credit crunch prompted an unwinding of risky carry trades.
Published 07 Aug, 2007 12:00am
South Korean won dips

South Korean won dips

The South Korean won fell against the dollar on Monday as concerns over a global credit squeeze prompted investors cut risky assets and as foreign investors continued to sell in the local stock market. The local currency is seen under pressure due to incr
Published 07 Aug, 2007 12:00am
Asian currencies: credit jitters hit rupiah

Asian currencies: credit jitters hit rupiah

The Indonesian rupiah took a fresh hit on Monday as investors cut riskier assets amid the turmoil in credit markets, but the resilience in the Philippine peso raised optimism that the currency could weather the storm.
Published 07 Aug, 2007 12:00am
Swiss franc up

Swiss franc up

The Swiss franc gained ground in early trading on Monday, as dealers were unwinding risky carry trades in choppy financial markets, easing pressure on the franc, market participants said. European shares looked set to open lower again after plummeting on
Published 07 Aug, 2007 12:00am
Chinese yuan ends up

Chinese yuan ends up

China's yuan rose against the dollar on Monday as the US currency tumbled in overseas markets amid global credit market turmoil. The yuan closed at 7.5610 to the dollar, up from Friday's 7.5680, after touching an intraday peak of 7.5563 in the morning - i
Published 07 Aug, 2007 12:00am
England hit by defensive injury crisis

England hit by defensive injury crisis

England's hopes of qualifying for Euro 2008 have been hit by a spate of injuries to their central defenders, including captain John Terry. Terry missed Chelsea's Community Shield meeting with Manchester United at Wembley on Sunday after damaging medial kn
Published 07 Aug, 2007 12:00am
Women coaching clinic starts

Women coaching clinic starts

German coach Monika Staab's five-day coaching clinic began in Lahore's Wapda sports complex in Kot Lakhpat on Monday. High-profile trainer of Germany's famous 1.FFK Frankfurt FC had already conducted same kind of clinics in Karachi (25-28 July) and Quetta
Published 07 Aug, 2007 12:00am
Dhoni set to lead India in Twenty20 contest

Dhoni set to lead India in Twenty20 contest

Mahendra Singh Dhoni is almost certain to be named India's captain when the selectors meet on Tuesday pick the squad for the inaugural Twenty20 World Championships in September.
Published 07 Aug, 2007 12:00am
Roddick wins Washington title

Roddick wins Washington title

US top seed Andy Roddick won his third ATP Washington Classic title, defeating upstart John Isner 6-4, 7-6 (7/4) Sunday to end a fairy-tale run by the unheralded 416th-ranked American newcomer.
Published 07 Aug, 2007 12:00am
Under-19 hockey championship from August 18

Under-19 hockey championship from August 18

The National Junior Under-19 hockey championship will begin on August 18 in Faisalabad. A Pakistan Hockey Federation (PHF) spokesman said 12 leading hockey teams from the province and various departments would take part in the championship. The final will
Published 07 Aug, 2007 12:00am
National women football championship from August 16

National women football championship from August 16

Lahore's Sports Sciences Women Club President Professor Dr Shahida Haider has announced that the 26-player squad for the third National Women Soccer Championship beginning on August 16 at Islamabad's Jinnah Stadium.
Published 07 Aug, 2007 12:00am
Sharapova wins first WTA title of season

Sharapova wins first WTA title of season

Maria Sharapova captured her first WTA title of 2007 Sunday with a victory at the 1.34 million-dollar San Diego Classic. The top-seeded Russian defeated Switzerland's Patty Schnyder, 6-2, 3-6, 6-0, to repeat as champion at the hardcourt tournament that pr
Published 07 Aug, 2007 12:00am
Woolmer widow's letter helps new Pakistan coach

Woolmer widow's letter helps new Pakistan coach

Australian Geoff Lawson says a personal letter from Bob Woolmer's widow is a comfort and a reassurance that there is no reason to fear his new position as Pakistan's cricket coach. Lawson, 49, last month succeeded former England batsman Woolmer, who died
Published 07 Aug, 2007 12:00am
Lebanon by-election highlights Christian disunity

Lebanon by-election highlights Christian disunity

Lebanon's Christians emerged on Monday from a by-election split down the middle after opposition leader Michel Aoun's candidate narrowly beat former President Amin Gemayel, a pillar of the Western-backed government.
Published 07 Aug, 2007 12:00am
Pot of gold rare find at Edinburgh Fringe

Pot of gold rare find at Edinburgh Fringe

The Edinburgh Fringe is a bit like Hollywood - thousands go chasing glory there, few find it. The organisers of the world's largest arts festival warn thousands of comedians, actors and musicians this is not the place to make money - but eternal optimists
Published 07 Aug, 2007 12:00am
Liberia coup plot probe discovers arms cache

Liberia coup plot probe discovers arms cache

Liberian authorities investigating a possible coup plot have discovered a large cache of new AK-47 ammunition in a town on the main road to Ivory Coast, police said on Monday. Police spokesman Alvin Jask Kanneh said it was too early to say whether the cac
Published 07 Aug, 2007 12:00am
Indian court rejects Novartis patent challenge

Indian court rejects Novartis patent challenge

An Indian court rejected on Monday a challenge by Novartis to Indian law that denies patents for minor improvements to known drugs, and the Swiss drug giant said it was unlikely to appeal.
Published 07 Aug, 2007 12:00am
Britain freezes assets of Nigerian former governor

Britain freezes assets of Nigerian former governor

Britain has frozen assets belonging to a former governor of oil-producing Delta state in southern Nigeria who was a major financier of the Nigerian president's electoral campaign, diplomatic sources said on Monday.
Published 07 Aug, 2007 12:00am
South Asia flood victims fight for food, boat capsizes

South Asia flood victims fight for food, boat capsizes

At least 35 boat passengers were feared drowned in the overflowing Ganges river in eastern India on Monday as victims of South Asia's devastating floods fought over food supplies and resorted to looting, officials said.
Published 07 Aug, 2007 12:00am
Taiwan seeking to buy Aegis destroyers from US

Taiwan seeking to buy Aegis destroyers from US

Taiwan wants to buy at least six US-built destroyers equipped with the advanced Aegis system to counter the perceived threat from rival China, it was reported Monday. An evaluation of the arms deal estimated to be worth up to 150 billion Taiwan dollars (4
Published 07 Aug, 2007 12:00am
US and Iran hold frank Iraq security talks; 33 killed

US and Iran hold frank Iraq security talks; 33 killed

The United States and Iran held a frank first meeting on Monday of a new committee set up by the arch foes to seek an end to Iraq's sectarian violence, which Washington accuses Tehran of fuelling. Hours before the diplomats met, a truck bomber in a crowde
Published 07 Aug, 2007 12:00am
Bush and Karzai responsible for fate of Koreans: Taliban

Bush and Karzai responsible for fate of Koreans: Taliban

Taliban insurgents said Afghan President Hamid Karzai and US President George W. Bush, meeting in Camp David on Monday, must agree to free jailed rebels or be responsible for the deaths of 21 Korean hostages.
Published 07 Aug, 2007 12:00am
Erdogan faces tough decisions on government and president

Erdogan faces tough decisions on government and president

Turkish Prime Minister Tayyip Erdogan faces tough choices this week on building a new government and nominating a candidate for president that risk reigniting tensions with the powerful secular elite.
Published 07 Aug, 2007 12:00am
Darfur rebels agree on position for final talks

Darfur rebels agree on position for final talks

Darfur rebel factions meeting in Tanzania have reached a common negotiating position for final peace talks with the Sudanese government which they want to hold within three months, international mediators said on Monday.
Published 07 Aug, 2007 12:00am
Holocaust memoirs author dies

Holocaust memoirs author dies

One of Germany's most prominent Holocaust survivors, Anja Lundholm, whose books recounted the horrors she experienced in a Nazi camp after she was allegedly denounced by her own father, has died aged 89, her publisher said Monday. The Munich-based publish
Published 07 Aug, 2007 12:00am
Olmert hopes talks can lead to Palestinian state

Olmert hopes talks can lead to Palestinian state

Israeli Prime Minister Ehud Olmert met Palestinian President Mahmoud Abbas for the first time in the West Bank on Monday and told him he wanted to restart negotiations soon on establishing a Palestinian state.
Published 07 Aug, 2007 12:00am
Sterling hits two-month low against euro

Sterling hits two-month low against euro

Sterling fell sharply across the board on Monday, hitting a two-month low against the euro after a technical break on the euro/sterling pair triggered heavy sterling selling from model and hedge funds. Earlier in the session, traders noted aggressive buyi
Published 07 Aug, 2007 12:00am
Dollar touches 15-year low

Dollar touches 15-year low

The dollar softened broadly on Monday, touching a 15-year low against a basket of currencies as investors speculated that rising credit market risk and softening US data could force a cut in US interest rates. The dollar index dipped below the psychologic
Published 07 Aug, 2007 12:00am
Indian rupee slips

Indian rupee slips

The Indian rupee lost ground on Monday on selling from overseas investors with a waning appetite for risk, though it was lifted off its lows by exporters who repatriated profits. The rupee ended at 40.41/42 per dollar, slipping from Friday's 40.34/35, but
Published 07 Aug, 2007 12:00am
Crossover steadies amid nervous mood

Crossover steadies amid nervous mood

European credit markets held steady on Monday, yet despite gains in US equities the mood remained nervous on a lack on significant headlines or data to calm investor fears. The iTraxx Crossover index, viewed as a barometer for risk appetite and made up of
Published 07 Aug, 2007 12:00am
Crossover steadies amid nervous mood

Crossover steadies amid nervous mood

European credit markets held steady on Monday, yet despite gains in US equities the mood remained nervous on a lack on significant headlines or data to calm investor fears. The iTraxx Crossover index, viewed as a barometer for risk appetite and made up of
Published 07 Aug, 2007 12:00am
Philippines shares plummet

Philippines shares plummet

Philippines share prices closed 2.8 percent lower on Monday for the weakest finish in more than three months as investors took their cue from the latest steep fall on Wall Street, dealers said. The composite index lost 95.25 points to 3,256.99, off a low
Published 07 Aug, 2007 12:00am
UK's top index falls

UK's top index falls

The FTSE 100 index of Britain's leading shares ended down 0.6 percent on Monday after commodities weighed, but M&A activity continued to provide some support. The FTSE 100 closed 35.2 points lower at 6,189.1 after a choppy day of trading saw the index dip
Published 07 Aug, 2007 12:00am
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