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Print - 2007-08-10
Oil prices steady at $72 in Asia market

Oil prices steady at $72 in Asia market

Oil prices hovered above $72 on Thursday, following a decline in the previous session, as worries about a slowing US economy overshadowed an unexpectedly sharp fuel stockdraw in the world's largest energy consumer. US crude rose 8 cents to $72.23 a barrel
Published 10 Aug, 2007 12:00am
Shanghai copper eases

Shanghai copper eases

Shanghai copper prices eased on Thursday after London futures dipped to a six-week low in the previous session on rising stocks and growth worries in major consumers. But a continuing strike in Mexico and soothing comments from the Federal Reserve helped
Published 10 Aug, 2007 12:00am
Indonesia crude palm oil up

Indonesia crude palm oil up

Indonesia crude palm oil rose on Thursday, boosted by gains on the Malaysian market, while olein prices were underpinned by delays in raw material shipments. In North Sumatra's Medan, crude palm oil was sold between 7,290-7,300 rupiah ($0.785-$0.786) a ki
Published 10 Aug, 2007 12:00am
New York sugar futures settle lower again

New York sugar futures settle lower again

Raw sugar futures settled a shade lower on Wednesday as the market sought direction after dropping to a three-week low for the third straight session, brokers said. "There's really nothing pushing the market one way or the other. They tested the downside,
Published 10 Aug, 2007 12:00am
Soyabeans hit near three-week top

Soyabeans hit near three-week top

Chicago Board of Trade soyabean futures reached a near three-week high as crop worries due to heat and dryness in the southern US Midwest fuelled a rally, traders said. "The weather contributed to it then the technical took off from there and allowed the
Published 10 Aug, 2007 12:00am
CBoT rice closes weak

CBoT rice closes weak

Chicago Board of Trade rough rice closed lower on Wednesday as commercial sales and quiet cash markets pressured prices, traders said. Rice closed lower in contrast to the other Chicago grain markets that rallied amid crop weather jitters given the heat a
Published 10 Aug, 2007 12:00am
Tokyo rubber futures near two-week lows

Tokyo rubber futures near two-week lows

Tokyo rubber futures held steady on Thursday on firmer oil, but the most active contract was within sight of a two-week low hit the previous day as worries about increasing supplies in producing countries lingered.
Published 10 Aug, 2007 12:00am
Malaysian palm oil gains

Malaysian palm oil gains

Malaysian crude palm oil futures ended 1.4 percent higher on Thursday, buoyed by robust prices of rival soyabean oil, traders said. Palm oil players were caught between soyaoil's overnight gains at the Chicago Board of Trade and fears that a seasonal upta
Published 10 Aug, 2007 12:00am
US jobless claims rise 7,000

US jobless claims rise 7,000

The number of US workers applying for jobless benefits rose by 7,000 last week to a level slightly higher than expected but still underscoring steady labour market conditions, government data on Thursday showed.
Published 10 Aug, 2007 12:00am
UK trade gap narrows

UK trade gap narrows

Britain's trade deficit narrowed unexpectedly in June to its smallest since October 2005 as the surplus on the oil balance reached its highest level for more than two years. The figures showed exporters were coping well with the strength of the pound, aid
Published 10 Aug, 2007 12:00am
Foot and mouth probe focuses on research laboratory

Foot and mouth probe focuses on research laboratory

British animal health inspectors preparing to report new findings into the source of a foot and mouth outbreak interviewed staff at a nearby research laboratory on Thursday.
Published 10 Aug, 2007 12:00am
ECB injects 94.8 billion euros to calm money markets

ECB injects 94.8 billion euros to calm money markets

The European Central Bank injected 94.841 billion euros into eurozone money markets on Thursday to help calm to jittery markets roiled by credit problems. The ECB said it had allotted 1-day securities at a fixed rate of 4.00 percent to all banks bidding f
Published 10 Aug, 2007 12:00am
Wal-Mart posts higher sales

Wal-Mart posts higher sales

Wal-Mart Stores Inc on Thursday posted a 1.9 percent rise in July sales at US stores open at least a year, toward the top end of its forecast, after cutting prices to attract shoppers. But the world's largest retailer, which will report quarterly earnings
Published 10 Aug, 2007 12:00am
Wal-Mart posts higher sales

Wal-Mart posts higher sales

Wal-Mart Stores Inc on Thursday posted a 1.9 percent rise in July sales at US stores open at least a year, toward the top end of its forecast, after cutting prices to attract shoppers. But the world's largest retailer, which will report quarterly earnings
Published 10 Aug, 2007 12:00am
Dubai bourse offers to buy 25 percent of OMX

Dubai bourse offers to buy 25 percent of OMX

State-owned Borse Dubai offered on Thursday to buy at least 25 percent of Nordic bourse owner OMX at 230 crowns a share, topping Nasdaq's per share full take-over bid and fuelling expectations of a battle.
Published 10 Aug, 2007 12:00am
BNP freezes $2.2 billion of funds over subprime

BNP freezes $2.2 billion of funds over subprime

France's biggest listed bank, BNP Paribas, froze 1.6 billion euros ($2.2 billion) worth of funds on Thursday, citing the US subprime mortgage sector woes that have rattled financial markets world-wide.
Published 10 Aug, 2007 12:00am
Microsoft 'Halo 3' game pre-orders exceed one million

Microsoft 'Halo 3' game pre-orders exceed one million

Microsoft Corp said on Thursday orders ahead of the official launch of the fast-paced shooter video game "Halo 3" exceeded 1 million in North America, breaking pre-order records in the video game industry.
Published 10 Aug, 2007 12:00am
Nokia picks JWT as its global marketing agency

Nokia picks JWT as its global marketing agency

Nokia the world's biggest mobile phone maker said on Thursday it has chosen JWT to be its global network marketing agency, but did not disclose the value of the deal. JWT is a part of WPP Group Plc.
Published 10 Aug, 2007 12:00am
Silicon Valley's payrolls on upswing

Silicon Valley's payrolls on upswing

California's Silicon Valley is not roaring back from its economic slump earlier this decade but the high-tech hub is adding the kind of jobs that signal an extended and steady recovery, according to a report released on Thursday.
Published 10 Aug, 2007 12:00am
Gap's same-store sales fall seven percent

Gap's same-store sales fall seven percent

Gap Inc said on Thursday that sales at stores open at least a year fell 7 percent in July. Analysts on average had been expecting the San Francisco-based clothing retailer to post a same-store sales decrease of 4.7 percent, according to Reuters Estimates.
Published 10 Aug, 2007 12:00am
Gap's same-store sales fall seven percent

Gap's same-store sales fall seven percent

Gap Inc said on Thursday that sales at stores open at least a year fell 7 percent in July. Analysts on average had been expecting the San Francisco-based clothing retailer to post a same-store sales decrease of 4.7 percent, according to Reuters Estimates.
Published 10 Aug, 2007 12:00am
Leigh Clifford named new Qantas chairman

Leigh Clifford named new Qantas chairman

Australian airline Qantas on Thursday named former Rio Tinto chief executive Leigh Clifford as its new chairman to replace Margaret Jackson when she retires in November. Qantas said Clifford would join the airline's board as a casual non-executive directo
Published 10 Aug, 2007 12:00am
South Korea raises interest rates for second month

South Korea raises interest rates for second month

South Korea Thursday raised its key interest rate for the second time in as many months in an attempt to soak up liquidity and keep inflation in check. The Bank of Korea announced it was raising its benchmark call rate target for August to 5.00 percent fr
Published 10 Aug, 2007 12:00am
Australian banks announce merger

Australian banks announce merger

Regional Australian banks Bendigo and Adelaide said Thursday their boards had agreed to a merger to form a bank with a market capitalisation of about 4.0 billion Australian dollars (3.4 billion US).
Published 10 Aug, 2007 12:00am
Taiwan's exports at record high

Taiwan's exports at record high

Taiwan exports in July grew 8.2 percent year-on-year to an all-time high of 21.18 billion dollars, after an 11 percent rise to 20.09 billion dollars in June, the finance ministry said. Imports in July rose 16.7 percent to another record high of 20.73 bill
Published 10 Aug, 2007 12:00am
UK retail sales growth slows sharply in July

UK retail sales growth slows sharply in July

British retail sales growth slowed to its weakest rate in eight months in July as exceptionally wet weather and higher borrowing costs kept people away from the shops, a survey showed on Tuesday.
Published 10 Aug, 2007 12:00am
UK retail sales growth slows sharply in July

UK retail sales growth slows sharply in July

British retail sales growth slowed to its weakest rate in eight months in July as exceptionally wet weather and higher borrowing costs kept people away from the shops, a survey showed on Tuesday.
Published 10 Aug, 2007 12:00am
Toll Brothers to report lower revenue

Toll Brothers to report lower revenue

Luxury home builder Toll Brothers Inc said on Wednesday that it expects to report a decline in quarterly home-building revenue as the US housing crisis deepens. The company said the net number of signed contracts for the third quarter ended July 31 was do
Published 10 Aug, 2007 12:00am
Toll Brothers to report lower revenue

Toll Brothers to report lower revenue

Luxury home builder Toll Brothers Inc said on Wednesday that it expects to report a decline in quarterly home-building revenue as the US housing crisis deepens. The company said the net number of signed contracts for the third quarter ended July 31 was do
Published 10 Aug, 2007 12:00am
Standard Life sales beat forecast

Standard Life sales beat forecast

British insurer Standard Life posted a 31 percent rise in first-half sales on Tuesday, boosted by forecast-beating UK growth, and said it expected to report a "significant increase" in sales margins next month.
Published 10 Aug, 2007 12:00am
Standard Life sales beat forecast

Standard Life sales beat forecast

British insurer Standard Life posted a 31 percent rise in first-half sales on Tuesday, boosted by forecast-beating UK growth, and said it expected to report a "significant increase" in sales margins next month.
Published 10 Aug, 2007 12:00am
Legislators seek tougher Thai foreign business law

Legislators seek tougher Thai foreign business law

Thailand's army-backed government has been forced to revise a controversial bill to tighten foreign investment rules after parliament tried to toughen its provisions even more, officials said Thursday.
Published 10 Aug, 2007 12:00am
Mahindra launches pick-up truck in Chile

Mahindra launches pick-up truck in Chile

Mahindra & Mahindra Ltd India's top utility vehicle maker, has launched a pick-up truck in Chile with a local distributor, the latest step to expand its international reach and cut dependence on its home market.
Published 10 Aug, 2007 12:00am
Harrah's Entertainment profit up

Harrah's Entertainment profit up

Harrah's Entertainment Inc, the world's biggest casino operator, said on Tuesday second-quarter profit rose largely on higher revenue at its casinos in Las Vegas and on the US Gulf Coast.
Published 10 Aug, 2007 12:00am
Harrah's Entertainment profit up

Harrah's Entertainment profit up

Harrah's Entertainment Inc, the world's biggest casino operator, said on Tuesday second-quarter profit rose largely on higher revenue at its casinos in Las Vegas and on the US Gulf Coast.
Published 10 Aug, 2007 12:00am
Turkey to announce media assets sale date next week

Turkey to announce media assets sale date next week

Turkey will set the timeframe and method next week for the sale of some of the country's leading media assets, including a top-selling newspaper and broadcaster, the head of the state receivership said on Tuesday.
Published 10 Aug, 2007 12:00am
Vietnam cuts import tariffs to fight inflation

Vietnam cuts import tariffs to fight inflation

Vietnam will this week slash a wide range of import tariffs in a bid to cut inflation which is causing public concern and eroding the communist country's economic gains, state media reported Monday.
Published 10 Aug, 2007 12:00am
Marsh & McLennan profit rises but misses forecasts

Marsh & McLennan profit rises but misses forecasts

Insurance broker Marsh & McLennan Cos. Inc posted a 3 percent rise in quarterly earnings on Tuesday but missed estimates as operating margins narrowed in its insurance services and other units.
Published 10 Aug, 2007 12:00am
Marsh & McLennan profit rises but misses forecasts

Marsh & McLennan profit rises but misses forecasts

Insurance broker Marsh & McLennan Cos. Inc posted a 3 percent rise in quarterly earnings on Tuesday but missed estimates as operating margins narrowed in its insurance services and other units.
Published 10 Aug, 2007 12:00am
China cuts gasoline exports, buys more diesel

China cuts gasoline exports, buys more diesel

China will cut gasoline exports to their lowest in 11 months in August and increase diesel imports to the highest since April, as big refiners fill a local supply gap left by smaller independents that have cut runs.
Published 10 Aug, 2007 12:00am
Westpac to spin off its BT fund management arm

Westpac to spin off its BT fund management arm

Australia's Westpac Bank announced plans Thursday to spin off its fund management arm BT Investment Management. Westpac said it will set up a new company which will increase BT's growth and bolster its ability to attract and retain a leading investment ma
Published 10 Aug, 2007 12:00am
Citigroup sees record Brazil M&A deals in 2007

Citigroup sees record Brazil M&A deals in 2007

Citigroup Inc, the top mergers and acquisitions adviser in Brazil this year, has almost matched the volume of deals it advised on in 2006 and the number of transactions in the works may double, the country head of its investment banking unit said.
Published 10 Aug, 2007 12:00am
Taiwan stocks hit one-week high

Taiwan stocks hit one-week high

Taiwan shares rose 0.91 percent to a one-week closing high on Thursday, buoyed by a Wall Street rally, with contract chip maker UMC leading the way after its July sales marked the first annual rise in nine months. The main TAIEX share index jumped 83.14 p
Published 10 Aug, 2007 12:00am
Jakarta shares sag

Jakarta shares sag

Indonesian share prices closed 0.90 percent lower on Thursday after a see-saw session, with the main index giving up all early gains inspired by Wall Street's rebound as investors moved quickly to sell into strength, dealers said.
Published 10 Aug, 2007 12:00am
Hong Kong blue chips retreat

Hong Kong blue chips retreat

Hong Kong blue chips surrendered earlier gains on Thursday, as investors locked in profits after the market neared a key resistance mark, but China plays rose 0.4 percent, as a broker recommendation and earnings surprises lifted shipping plays.
Published 10 Aug, 2007 12:00am
US stocks up for third day

US stocks up for third day

US stocks rose for a third session on Wednesday, a day after the Federal Reserve reassured investors about the economy and technology bellwether Cisco Systems Inc raised its revenue outlook. The Nasdaq composite index rose 2 percent, led by Cisco, the wor
Published 10 Aug, 2007 12:00am
Indian shares fall 1.36 percent

Indian shares fall 1.36 percent

Indian share prices fell 1.36 percent on Thursday in volatile trade as investors locked-in gains, dealers said. They said several Asian and European markets weakened during the day, which caused investors to sell locally as well.
Published 10 Aug, 2007 12:00am
US Treasury prices tumble

US Treasury prices tumble

US government debt prices fell on Wednesday as investors ventured back into stocks and corporate bonds, curbing Treasuries' safe-haven appeal. A tepid auction of 10-year notes added to pressure on Treasury prices, traders said.
Published 10 Aug, 2007 12:00am
US Treasury prices tumble

US Treasury prices tumble

US government debt prices fell on Wednesday as investors ventured back into stocks and corporate bonds, curbing Treasuries' safe-haven appeal. A tepid auction of 10-year notes added to pressure on Treasury prices, traders said.
Published 10 Aug, 2007 12:00am
Seoul shares rise

Seoul shares rise

Seoul shares extended gains on Thursday as a rally in technology shares including Samsung Electronics helped the market absorb the impact of an unexpected interest rate increase that hit local brokerages. The benchmark KOSPI dipped briefly after the Bank
Published 10 Aug, 2007 12:00am
Philippines shares jump

Philippines shares jump

Philippines share prices closed 0.30 percent higher on Thursday, thanks to the overnight rally on Wall Street and favourable earnings reports by key local blue chips, dealers said. However, after a quick rise in early trading, profit-taking set in, reflec
Published 10 Aug, 2007 12:00am
Thai share prices decline

Thai share prices decline

Thai share prices closed 2.38 percent lower on Thursday as investors dumped shares after French banking giant BNP Paribas suspended funds due to woes in the US sub-prime mortgage market, dealers said. They said selling accelerated on expectations that Wal
Published 10 Aug, 2007 12:00am
Nikkei ends at one-week high

Nikkei ends at one-week high

The Nikkei average rose 0.8 percent to close at its highest in over a week on Thursday as Fast Retailing Co jumped on news that its costly bid for retail chain Barneys New York may fail, while TDK Corp and other exporters gained on Wall Street and a softe
Published 10 Aug, 2007 12:00am
Malaysian shares jump

Malaysian shares jump

Malaysian share prices closed up 0.50 percent on Thursday but concerns continued to linger over the US economy with late profit taking overshadowing gains made in the earlier session, dealers said. The Kuala Lumpur composite index closed up 6.22 points at
Published 10 Aug, 2007 12:00am
Yuan ends up

Yuan ends up

The yuan closed higher against the dollar on Thursday amid expectations that the central bank would soon permit a fresh leg up, but traders dismissed a media report that China was threatening to dump the dollar due to trade tensions.
Published 10 Aug, 2007 12:00am
Yen steady versus majors

Yen steady versus majors

The yen steadied against major currencies on Thursday after sliding the previous day as a rebound in stock and credit markets spurred a revival of carry trades using the low-yielding Japanese currency.
Published 10 Aug, 2007 12:00am
Yen slumps

Yen slumps

The yen fell broadly on Wednesday after a Federal Reserve statement tempered fears about the impact of US credit troubles on the wider economy, boosting stocks and other risky assets. Signs of a recovery in investor appetite for risk, underscored by risin
Published 10 Aug, 2007 12:00am
South Korea's foreign exchange intervention too costly for economy

South Korea's foreign exchange intervention too costly for economy

South Korea's effort to restrain a rising won looks like an exercise in futility: It's expensive, unlikely to work, and not needed to support exports. Intervention by the authorities, buying dollars and flooding the market with won, also contradicts effor
Published 10 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 Thursday. 68.51/68.60 (previous 68.51/68.54). Call Money Rates:6.50-10.00 percent (previous 6.50-10.00 percent.
Published 10 Aug, 2007 12:00am
Australian dollar at two-week high

Australian dollar at two-week high

The Australian dollar rose to a two-week high against the US dollar and the yen on Thursday as the taste for risk returned and after strong July jobs data bolstered views that interest rates here will rise again.
Published 10 Aug, 2007 12:00am
Asian currencies: peso tumbles after BNP news on subprime

Asian currencies: peso tumbles after BNP news on subprime

The Philippine peso fell and other Asian currencies gave up their early gains on Thursday after a string of news reports from Europe stoked fresh concerns about the fallout from the US subprime mortgage market.
Published 10 Aug, 2007 12:00am
Swiss franc firms

Swiss franc firms

The Swiss franc firmed against the euro and dollar on Thursday as economists saw positive news from a Swiss consumer sentiment report despite a decline in the headline figures. The Swiss currency was 0.1 percent higher against the dollar at 1.1949 per dol
Published 10 Aug, 2007 12:00am
U18 championship to be rescheduled

U18 championship to be rescheduled

Pakistan Football Federation (PFF) President Makhdoom Syed Faisal Saleh Hayat has asked the operation department to change the dates of the 19th National U18 Championship to get enough time for PFF staff to gear up for third President's Cup to run in Laho
Published 10 Aug, 2007 12:00am
Monika Staab to perform as selector

Monika Staab to perform as selector

German women soccer coach Monika Staab will act as selector when the third National Women Football Championship will begin from August 16 to 24 at Islamabad's Jinnah Stadium. Monika is in Pakistan for a month women football training Programme and she is a
Published 10 Aug, 2007 12:00am
Sharapova advances

Sharapova advances

Top-seeded Russian Maria Sharapova reached the third round of the 600,000-dollar hardcourt tournament here Wednesday when ailing Eleni Daniilidou retired in the second set.
Published 10 Aug, 2007 12:00am
Fleming omitted from Twenty20 squad

Fleming omitted from Twenty20 squad

New Zealand selectors on Thursday said they would not send Test skipper Stephen Fleming to the ICC Twenty20 World Championships in order to blood Daniel Vettori as captain.
Published 10 Aug, 2007 12:00am
Federer celebrates birthday with a win

Federer celebrates birthday with a win

Roger Federer had little to sing about as he struggled against the tree-top serve of Ivo Karlovic before carving out a place in the third round of the ATP Montreal Masters. But the challenging Wednesday win, by a score of 7-6 (7/2), 7-6 (7/3), as the Swis
Published 10 Aug, 2007 12:00am
India build final Test momentum

India build final Test momentum

Sachin Tendulkar was threatening to make England pay for dropping him on 20 as India finished the first day of the third and final Test on 316 for four at The Oval here Thursday. Tendulkar was 48 not out and VVS Laxman 20 not out following an impressive 9
Published 10 Aug, 2007 12:00am
Ancient human fossils show women much smaller

Ancient human fossils show women much smaller

Homo erectus, long viewed as a crucial evolutionary link between modern humans and their tree-dwelling ancestors, may have been more ape-like than previously thought, scientists unveiling new-found fossils said on Thursday.
Published 10 Aug, 2007 12:00am
US shuttle carries first teacher into space

US shuttle carries first teacher into space

The US space shuttle Endeavour orbited Earth on Thursday, carrying the first teacher in space 21 years after the Challenger explosion ended the dreams of another "educator astronaut."
Published 10 Aug, 2007 12:00am
Dancers duped to seek asylum abroad: Chechnya

Dancers duped to seek asylum abroad: Chechnya

A group of 18 Chechens who applied for asylum while on a dance tour of Finland were duped into abandoning their homeland and want to come back, Chechnya's culture minister said on Thursday.
Published 10 Aug, 2007 12:00am
Last witness of Hitler's final days recalls past

Last witness of Hitler's final days recalls past

Rochus Misch, the last living witness of Adolf Hitler's last days in the Berlin bunker, recalls a strange silence that filled the underground chamber as the final battles to capture the German capital raged overhead. In an interview with Reuters, the 90-y
Published 10 Aug, 2007 12:00am
Gunmen attack Yemen forces, plant after Qaeda clash

Gunmen attack Yemen forces, plant after Qaeda clash

Gunmen attacked a Yemeni power station and security patrols on Thursday in the city of Marib where troops had killed four al Qaeda militants a day earlier, security sources said. Officials suspect the gunmen were either al Qaeda militants or sympathisers.
Published 10 Aug, 2007 12:00am
Reluctance of others delay Guantanamo prison closure: Bush

Reluctance of others delay Guantanamo prison closure: Bush

Reluctance by other countries to take custody of terrorism suspects held at Guantanamo Bay is delaying Washington's ability to shut the widely criticised prison camp, US President George W. Bush said on Thursday.
Published 10 Aug, 2007 12:00am
Last batch of stranded Palestinians returns

Last batch of stranded Palestinians returns

About 400 Palestinians, the last of thousands seeking to return home after being stranded in Egypt, crossed back into Gaza on Thursday, an Egyptian security source said. More than 6,000 Palestinians had been stuck in Egypt after Israel closed the main Raf
Published 10 Aug, 2007 12:00am
UNSC delays vote on Iraq

UNSC delays vote on Iraq

The UN Security Council delayed on Thursday its vote on a resolution to expand the United Nations role in Iraq by 24 hours to give the Iraqi government time to review it, diplomats said.
Published 10 Aug, 2007 12:00am
Russia accuses Georgia over missile 'stunt'

Russia accuses Georgia over missile 'stunt'

Georgian allegations that Russia dropped a missile on its soil are aimed at discrediting Moscow, Russia's most senior soldier said on Thursday as the United States appeared to back Georgia in the row.
Published 10 Aug, 2007 12:00am
South Asian floods toll passes 2,000 mark

South Asian floods toll passes 2,000 mark

The death toll from the worst monsoon floods to hit South Asia in decades passed 2,000 Thursday even as torrents of muddy water receded from millions of acres of farmland and rains shifted west.
Published 10 Aug, 2007 12:00am
US withdrawal needed for security, Iran tells Iraq

US withdrawal needed for security, Iran tells Iraq

An end to violence in Iraq depends on the United States withdrawing its troops, Iran told Iraq's prime minister on Thursday, seeking to deflect accusations from Washington that it is responsible for bloodshed there.
Published 10 Aug, 2007 12:00am
Russian bombers resume long-haul missions

Russian bombers resume long-haul missions

Russia's strategic bombers have resumed Cold War-style long-haul missions to areas patrolled by Nato and the United States, top generals said on Thursday.
Published 10 Aug, 2007 12:00am
Howard tips climate change progress at Apec

Howard tips climate change progress at Apec

Australian Prime Minister John Howard said Thursday he was optimistic next month's Apec meeting in Sydney would bring progress on the issue of climate change. Howard has made climate change one of the top agenda items for the meeting of 21 Asia Pacific Ec
Published 10 Aug, 2007 12:00am
Global warming will step up after 2009

Global warming will step up after 2009

Global warming is forecast to set in with a vengeance after 2009, with at least half of the five following years expected to be hotter than 1998, the warmest year on record, scientists reported on Thursday.
Published 10 Aug, 2007 12:00am
Sterling falls versus yen and dollar

Sterling falls versus yen and dollar

The pound fell against the yen and dollar in step with other high-yielding currencies on Thursday after renewed credit concerns dampened risk appetite and prompted broad unwinding of carry trades. The latest jitters started when BNP Paribas suspended more
Published 10 Aug, 2007 12:00am
Low-yielding yen rally in London

Low-yielding yen rally in London

The low-yielding yen jumped around 1.5 percent against the euro and 1 percent versus the dollar, while high-yielders slid on Thursday as investors cut exposure to carry trades due to worries over problems in credit markets.
Published 10 Aug, 2007 12:00am
Indian rupee slips

Indian rupee slips

The Indian rupee surrendered gains on Thursday as stocks dropped on worries about fallout from the US subprime mortgage sector, and traders said the central bank may sell while it was weak to push it away from nine-year highs.
Published 10 Aug, 2007 12:00am
US Stocks: subprime fallout trample shares

US Stocks: subprime fallout trample shares

US stocks declined sharply on Thursday as several major financial institutions suffered losses in the subprime mortgage sector meltdown, sending investors fleeing from risky assets such as equities in favour of safer government bonds.
Published 10 Aug, 2007 12:00am
Chinese main index climbs

Chinese main index climbs

Chinese main stock index climbed almost 2 percent to a fresh record high on Thursday as financials and other large-cap stocks surged, while steel and base metals recovered from a tumble on Wednesday. Investors were encouraged by the continued strength of
Published 10 Aug, 2007 12:00am
FTSE tumbles 1.9 percent

FTSE tumbles 1.9 percent

Britain's top share index tumbled nearly 2 percent on Thursday after BNP Paribas froze redemption's from three funds over subprime trouble, spooking investors and raising concerns over a possible credit squeeze.
Published 10 Aug, 2007 12:00am
Crossover volatile as subprime fears strike back

Crossover volatile as subprime fears strike back

French bank BNP Paribas triggered a sell-off in European credit markets on Thursday when it announced it was freezing three asset-backed securities funds, deflating an early burst of optimism.
Published 10 Aug, 2007 12:00am
London cocoa sets three-month low

London cocoa sets three-month low

London cocoa futures fell to a fresh three-month low on Thursday as beneficial rains in top producer Ivory Coast improved crop prospects, dealers said. White sugar ended lower with the market hovering just above a 21-month low set earlier this week while
Published 10 Aug, 2007 12:00am
Rain, drought seen cutting west Europe wheat crop

Rain, drought seen cutting west Europe wheat crop

Rain this summer coupled with drought in the spring is expected to lead to smaller wheat crops this year in major west European producing countries, analysts and traders said on Thursday. "It is not a disaster but the big producers, especially France and
Published 10 Aug, 2007 12:00am
World oil falls on subprime concern

World oil falls on subprime concern

Oil fell on Thursday as worries over the US subprime mortgage sector battered global markets, but losses were limited as refined products prices held firm on tight US supplies. US crude settled down 56 cents at $71.59 a barrel, after falling as low as $70
Published 10 Aug, 2007 12:00am
Egypt wheat harvest steadies

Egypt wheat harvest steadies

Egyptian farmers produced about 7.5 million tonnes of wheat in the season just ended, about the same as last year, the government said on Thursday. Farmers planted 2.7 million acres (1.1 million hectares) with wheat and the average yield was 2.78 tonnes a
Published 10 Aug, 2007 12:00am
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