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Print - 2007-11-09
Siemens reveals depth of corruption scandal

Siemens reveals depth of corruption scandal

German engineering giant Siemens admitted 1.3 billion euros (one billion dollars) in dubious transactions on Thursday, showing the extent of a corruption scandal that has engulfed the company. Siemens posted solid results for the final quarter of its 2006
Published 09 Nov, 2007 12:00am
GDP growth to remain at 6.9 percent: economists

GDP growth to remain at 6.9 percent: economists

Despite imposition of the state of emergency, macro-economic environment will remain stable and Pakistan's gross domestic product (GDP) growth will remain at 6.9 percent, driven by domestic consumption, economists said. They believed that if the same situ
Published 09 Nov, 2007 12:00am
Trichet warns on 'brutal' foreign exchange moves, holds rates

Trichet warns on 'brutal' foreign exchange moves, holds rates

European Central Bank President Jean-Claude Trichet warned on Thursday against "brutal" currency market moves as the euro soars, and said the ECB was committed to keeping inflation under control after leaving interest rates at 4 percent.
Published 09 Nov, 2007 12:00am
EU presses US to change Internet gambling law

EU presses US to change Internet gambling law

The United States must change an Internet gambling law that discriminates against European companies by preventing them from offering services in the US market, the European Union's top trade official said on Thursday.
Published 09 Nov, 2007 12:00am
Opec calls for tighter regulation of oil market

Opec calls for tighter regulation of oil market

Opec's secretary-general called on Thursday for tighter regulation of oil markets to reduce the speculative investment the exporter group blames for driving prices to nearly $100 a barrel. Oil markets have spun out of control, the group says, because of f
Published 09 Nov, 2007 12:00am
EU split on 'blue card' for qualified migrants

EU split on 'blue card' for qualified migrants

A controversial European Union proposal to compete with the United States in attracting qualified migrants to fill skills gaps failed to win consensus among the bloc's members on Thursday. Some EU countries backed the controversial "blue card" scheme whil
Published 09 Nov, 2007 12:00am
Deutsche Telekom posts stronger earnings

Deutsche Telekom posts stronger earnings

Europe's biggest telecommunications group, Deutsche Telekom of Germany, announced stronger than expected third quarter earnings thanks to robust growth at its T-Mobile unit. Adjusted net profit rose to 1.058 billion euros (1.551 billion dollars) from 990
Published 09 Nov, 2007 12:00am
Ryanair sues European Commission over Air France

Ryanair sues European Commission over Air France

Ryanair confirmed on Thursday it would sue the European Commission for not tackling the French government over reduced domestic airport charges which the airline believes favour Air France.
Published 09 Nov, 2007 12:00am
German trade surplus up

German trade surplus up

Germany's trade surplus ended the third quarter bigger than expected due to lower imports in September, but slower export growth and weaker orders showed the economy is losing support from foreign demand as the euro soars. The surplus widened to an adjust
Published 09 Nov, 2007 12:00am
300 lawyers released on bail

300 lawyers released on bail

An anti-terrorism court on Thursday granted bail to more than 300 lawyers arrested during protests against imposition of emergency rule, attorneys said. The 331 lawyers were detained in Lahore on Monday on charges of terrorism, rioting and attacking publi
Published 09 Nov, 2007 12:00am
Stella brewer InBev third quarter disappoints, shares tumble

Stella brewer InBev third quarter disappoints, shares tumble

InBev, the world's largest brewer by volume, reported disappointing third-quarter figures as a wet European summer and changing tastes dampened thirst for its Stella Artois and Beck's beer, but it forecast a stronger end to the year.
Published 09 Nov, 2007 12:00am
Stella brewer InBev third quarter disappoints, shares tumble

Stella brewer InBev third quarter disappoints, shares tumble

InBev, the world's largest brewer by volume, reported disappointing third-quarter figures as a wet European summer and changing tastes dampened thirst for its Stella Artois and Beck's beer, but it forecast a stronger end to the year.
Published 09 Nov, 2007 12:00am
Best Western targets business travellers: chief executive

Best Western targets business travellers: chief executive

Best Western International Inc, one of the world's largest hotel chains, is rolling out new business-friendly hotels, as it aims to woo travellers from rivals Marriott International Inc and Hilton Hotels Corp, its chief executive told Reuters on Monday.
Published 09 Nov, 2007 12:00am
US House extends stopgap government funds through December 14

US House extends stopgap government funds through December 14

The US House of Representatives on Thursday approved a second round of stopgap funds to keep federal agencies operating through December 14, giving Democrats in Congress and Republican President George W. Bush more time to avoid a government shutdown.
Published 09 Nov, 2007 12:00am
Bolivia quits World Bank arbitration body

Bolivia quits World Bank arbitration body

Bolivia has formally withdrawn from a World Bank body that mediates between foreign investors and governments, complaining that its rulings are biased, the country's ambassador to the United States said.
Published 09 Nov, 2007 12:00am
African 'elephant' wants to block trade talks: EU

African 'elephant' wants to block trade talks: EU

Europe's trade chief accused Nigeria and South Africa of trying to block negotiations for new trade and investment deals between the European Union and scores of former colonies.
Published 09 Nov, 2007 12:00am
BT dips as forecast-hitting results seen lacklustre

BT dips as forecast-hitting results seen lacklustre

Britain's BT Group posted in-line second-quarter headline numbers on Thursday and promised further growth but market disappointment at lower-than-expected earnings and margins pushed its stock down nearly 5 percent.
Published 09 Nov, 2007 12:00am
BT dips as forecast-hitting results seen lacklustre

BT dips as forecast-hitting results seen lacklustre

Britain's BT Group posted in-line second-quarter headline numbers on Thursday and promised further growth but market disappointment at lower-than-expected earnings and margins pushed its stock down nearly 5 percent.
Published 09 Nov, 2007 12:00am
Public-private partnership policy approved

Public-private partnership policy approved

Prime Minister Shaukat Aziz on Thursday approved in principle the proposed Public-Private Partnership Policy to promote and facilitate infrastructure projects involving private investment and management.
Published 09 Nov, 2007 12:00am
Fishermen caught in oil dispute over African lake

Fishermen caught in oil dispute over African lake

Until this year, Robert Kazini had never given much thought to whether he was fishing in Congolese or Ugandan waters; it didn't matter. Nor did it matter much to Uganda and Democratic Republic of Congo - until prospectors found oil here.
Published 09 Nov, 2007 12:00am
Public-private partnership policy approved

Public-private partnership policy approved

Prime Minister Shaukat Aziz on Thursday approved in principle the proposed Public-Private Partnership Policy to promote and facilitate infrastructure projects involving private investment and management.
Published 09 Nov, 2007 12:00am
New Zealand unemployment hits record low

New Zealand unemployment hits record low

New Zealand's unemployment rate hit a record low of 3.5 percent in the September quarter, the lowest rate since the current measure was adopted in 1986, Statistics New Zealand said. New Zealand's unemployment rate is the fifth lowest in the OECD club of d
Published 09 Nov, 2007 12:00am
Public-private partnership policy approved

Public-private partnership policy approved

Prime Minister Shaukat Aziz on Thursday approved in principle the proposed Public-Private Partnership Policy to promote and facilitate infrastructure projects involving private investment and management.
Published 09 Nov, 2007 12:00am
Marsh & McLennan misses view, net soars on Putnam

Marsh & McLennan misses view, net soars on Putnam

Marsh & McLennan Companies, one of the world's largest insurance brokers, said on Thursday quarterly profit soared eleven-fold from a sale of its Putnam Investments unit, but operating earnings missed forecasts. Third-quarter profit rose to $1.95 billion,
Published 09 Nov, 2007 12:00am
US and UK laud election plan

US and UK laud election plan

The White House welcomed on Thursday the fact that President Pervez Musharraf has "clarified" the date for Pakistan's elections, but urged him to take further steps toward democratic rule. "We think it is a good thing that President Musharraf has clarifie
Published 09 Nov, 2007 12:00am
Marsh & McLennan misses view, net soars on Putnam

Marsh & McLennan misses view, net soars on Putnam

Marsh & McLennan Companies, one of the world's largest insurance brokers, said on Thursday quarterly profit soared eleven-fold from a sale of its Putnam Investments unit, but operating earnings missed forecasts. Third-quarter profit rose to $1.95 billion,
Published 09 Nov, 2007 12:00am
US and UK laud election plan

US and UK laud election plan

The White House welcomed on Thursday the fact that President Pervez Musharraf has "clarified" the date for Pakistan's elections, but urged him to take further steps toward democratic rule. "We think it is a good thing that President Musharraf has clarifie
Published 09 Nov, 2007 12:00am
Thailand to approve ING bid for TMB Bank stake

Thailand to approve ING bid for TMB Bank stake

Thailand is set to approve ING's bid for a 25.2 percent stake in TMB Bank after the Dutch banking group won out against a rival bid from Singapore's DBS Group, the finance minister said Thursday.
Published 09 Nov, 2007 12:00am
Elections by February 15: Musharraf

Elections by February 15: Musharraf

President Pervez Musharraf on Thursday announced that elections would be held by February 15 next. In a prompt move, both President General Pervez Musharraf and chief of the ruling League Chaudhry Shujaat Hussian announced here at separate forums that ele
Published 09 Nov, 2007 12:00am
Raiffeisen beats all estimates, defies bank slump

Raiffeisen beats all estimates, defies bank slump

Austria's Raiffeisen International bank posted a 51 percent rise in third-quarter net profit, beating expectations and easing worries for investors grappling with multi-billion dollar writedowns at western banks.
Published 09 Nov, 2007 12:00am
Elections by February 15: Musharraf

Elections by February 15: Musharraf

President Pervez Musharraf on Thursday announced that elections would be held by February 15 next. In a prompt move, both President General Pervez Musharraf and chief of the ruling League Chaudhry Shujaat Hussian announced here at separate forums that ele
Published 09 Nov, 2007 12:00am
Raiffeisen beats all estimates, defies bank slump

Raiffeisen beats all estimates, defies bank slump

Austria's Raiffeisen International bank posted a 51 percent rise in third-quarter net profit, beating expectations and easing worries for investors grappling with multi-billion dollar writedowns at western banks.
Published 09 Nov, 2007 12:00am
BNP Paribas third quarter profit rises, cautious on outlook

BNP Paribas third quarter profit rises, cautious on outlook

BNP Paribas, France's biggest listed bank, reported a 21 percent rise in third-quarter net profit, in sharp contrast to the slump in earnings of many major banks following the global credit crisis. It said the market environment remained uncertain but add
Published 09 Nov, 2007 12:00am
BNP Paribas third quarter profit rises, cautious on outlook

BNP Paribas third quarter profit rises, cautious on outlook

BNP Paribas, France's biggest listed bank, reported a 21 percent rise in third-quarter net profit, in sharp contrast to the slump in earnings of many major banks following the global credit crisis. It said the market environment remained uncertain but add
Published 09 Nov, 2007 12:00am
Philips unveils new pixel plus extreme LCD TV series

Philips unveils new pixel plus extreme LCD TV series

Philips Pakistan unveiled its Pixel Plus LCD TV series. Containing the state of the art Pixel Plus Extreme engine. Philips exclusive Pixel Plus technology transforms the over all viewing experience by using 1080P pixel resolution. This adds up to over two
Published 09 Nov, 2007 12:00am
Australia unemployment rises

Australia unemployment rises

Australia's unemployment rate rose to 4.3 percent in October from a low of 4.2 percent the previous month, the Australian Bureau of Statistics (ABS) said Thursday. Economists had predicted unemployment would remain at 4.2 percent, a level hit earlier this
Published 09 Nov, 2007 12:00am
Thai consumer confidence hits fresh five-year low

Thai consumer confidence hits fresh five-year low

Thai consumer confidence slipped to a new five-year low in October on concerns over soaring fuel prices and the rising cost of living, researchers said Thursday. Despite easing political concerns after a coup last year, the consumer confidence index was a
Published 09 Nov, 2007 12:00am
Taiwan stocks end near two-month low

Taiwan stocks end near two-month low

Taiwan stocks dropped 3.90 percent to close at their lowest level in nearly two months on Thursday, led by index heavyweights such as electronics maker Hon Hai, as domestic tech issues tracked losses on Wall Street. The main TAIEX share index fell 362.64
Published 09 Nov, 2007 12:00am
Hong Kong shares sink 3.2 percent

Hong Kong shares sink 3.2 percent

Hong Kong stocks sank 3.2 percent on Thursday as Wall Street's tumble prompted investors to bail out across the board, with oil issues leading the losses and PetroChina Co Ltd falling for a fifth straight day. But blue chip Hong Kong & China Gas set a lif
Published 09 Nov, 2007 12:00am
Wall Street plunges

Wall Street plunges

US stocks tumbled on Wednesday and the Nasdaq posted its biggest drop since February as a probe of the home loan industry by New York's attorney general drew in the country's biggest mortgage finance companies and Washington Mutual Inc warned the housing
Published 09 Nov, 2007 12:00am
US Treasury prices surge

US Treasury prices surge

US Treasuries surged higher on Wednesday as falling stocks, a plunging dollar and record high oil prices spooked investors and sent them scurrying into safe-haven government bonds.
Published 09 Nov, 2007 12:00am
US Treasury prices surge

US Treasury prices surge

US Treasuries surged higher on Wednesday as falling stocks, a plunging dollar and record high oil prices spooked investors and sent them scurrying into safe-haven government bonds.
Published 09 Nov, 2007 12:00am
Thai shares drop

Thai shares drop

Thai share prices closed 0.75 percent lower on Thursday amid a regional sell-off after an overnight slump on Wall Street rattled investors, dealers said. They said investors sold shares across the board, while record high oil prices also stoked concerns a
Published 09 Nov, 2007 12:00am
Jakarta shares decline

Jakarta shares decline

Indonesian share prices closed 1.3 percent lower on Thursday amid a heavy sell-off in Asia following a slide on Wall Street, dealers said. The Jakarta Stock Exchange composite index closed down 35.75 points at 2,678.22, off a low of 2,640.15.
Published 09 Nov, 2007 12:00am
Nikkei hits two-month closing low

Nikkei hits two-month closing low

Japan's Nikkei average fell 2 percent to log a two-month closing low on Thursday after spreading credit fears sent Wall Street tumbling and exporters such as Honda Motor were battered by a strong yen. The broader TOPIX index was hit even harder, dropping
Published 09 Nov, 2007 12:00am
Chinese stocks slip nearly five percent

Chinese stocks slip nearly five percent

China's stock market slid nearly 5 percent on Thursday, breaking major chart support, as a plunge in Hong Kong unsettled investors who were already jittery about monetary policy and a flood of new share offers.
Published 09 Nov, 2007 12:00am
Yuan in second biggest gain

Yuan in second biggest gain

China's yuan ended higher against the dollar on Thursday, posting its second biggest daily gain since its 2005 revaluation as the Chinese central bank appeared to shift tactics to allow longer stretches of yuan appreciation, traders said.
Published 09 Nov, 2007 12:00am
Dollar off three-month low

Dollar off three-month low

The dollar pulled back from a three-month low against the yen but remained pressured against other currencies on Thursday as growing fears of potential losses at financial firms from credit market turmoil hurt sentiment.
Published 09 Nov, 2007 12:00am
Dollar hits new lows

Dollar hits new lows

The dollar tumbled to record lows against the euro on Wednesday after comments by a Chinese official stoked fears the central bank of the world's fourth largest economy would reduce its holdings of US assets. The dollar's decline was broad, also taking it
Published 09 Nov, 2007 12:00am
Swiss franc near three-year high

Swiss franc near three-year high

The Swiss franc rose against the dollar and was close to a new three-year high on Thursday as the US currency continued to fall on worries over Chinese holdings of US assets and fallout from the subprime crisis. The franc was 0.12 percent higher against t
Published 09 Nov, 2007 12:00am
Asian currencies: stock falls weigh on high-yielders

Asian currencies: stock falls weigh on high-yielders

High-yielding Asian currencies fell on Thursday as falling stocks impelled investors to trim their positions, but the Chinese yuan rode on the dollar's weakness and helped underpin investor sentiment. The Indonesian rupiah dropped briefly as far as 9,165
Published 09 Nov, 2007 12:00am
Indian rupee eases

Indian rupee eases

India's rupee eased on Thursday as oil companies bought dollars and as fears of central bank intervention weighed on sentiment, but trading was muted ahead of a public holiday, dealers said. After market hours on Wednesday, the Reserve Bank of India said
Published 09 Nov, 2007 12:00am
U-19 football championship: Pakistan to take on Oman today

U-19 football championship: Pakistan to take on Oman today

The Pakistan U-19 football team will take on Oman on November 9 (Friday) in their second Group-B match in the 36th Asian U19 Football Championship 2007 at Paas stadium in Tehran. Pakistan has been placed in Group-B with India, Oman, Lebanon and host Iran.
Published 09 Nov, 2007 12:00am
Asif to consult foreign expert over injury

Asif to consult foreign expert over injury

The Pakistan Cricket Board is to consult a foreign medical expert to ascertain when paceman Mohammad Asif might recover from injury to play for the country. Asif pulled out of the one-day series in India at the 11th hour due to a nagging elbow injury and
Published 09 Nov, 2007 12:00am
German federation plays down Haas poison rumour

German federation plays down Haas poison rumour

The German tennis federation (DTB) believes there is no medical evidence to support a rumour that Tommy Haas was poisoned during Germany's Davis Cup semi-final defeat by Russia in Moscow in September.
Published 09 Nov, 2007 12:00am
Bond earns upper hand for Kiwis in first Test

Bond earns upper hand for Kiwis in first Test

Four wickets by express bowler Shane Bond earned New Zealand the upper hand on the first day of the first Test against South Africa on Thursday. New Zealand reached the close on 41 for two after dismissing South Africa, who won the toss and chose to bat,
Published 09 Nov, 2007 12:00am
Pakistan beat India

Pakistan beat India

Pakistan beat India by four wickets in the second one-day international here on Thursday to draw level at 1-1 in the five-match series. Earlier, Sachin Tendulkar slammed a scintillating half-century as India posted a strong 321-9.
Published 09 Nov, 2007 12:00am
Coal mine gas leak kills 29

Coal mine gas leak kills 29

Twenty-nine miners have died following a gas leak in a coal mine in south-west China and six are still missing, state press reported early Friday. The gas leak at Qunli coal mine in Guizhou Province occurred at 2:10 pm (0610 GMT) Thursday when 86 miners w
Published 09 Nov, 2007 12:00am
Malnutrition plagues Laos children: WFP

Malnutrition plagues Laos children: WFP

Half of the children under the age of five in rural Laos are suffering from malnutrition, according to a study released Thursday by the UN World Food Programme (WFP). "In rural Laos today, every second child is chronically malnourished," the agency's repr
Published 09 Nov, 2007 12:00am
Manmohan to sign defence, energy deals with Russia

Manmohan to sign defence, energy deals with Russia

India's premier is expected to sign deals with Russia concerning trade, nuclear energy and defence during his trip to Moscow next week, officials said Thursday. During his two-day visit, Prime Minister Manmohan Singh will hold talks with Russian President
Published 09 Nov, 2007 12:00am
Serb nationalist dares war crimes court to do its worst

Serb nationalist dares war crimes court to do its worst

Serbian ultra-nationalist Vojislav Seselj cast himself as a martyr Thursday, daring the UN war crimes court to give him the harshest possible sentence so that his ideas would become immortal.
Published 09 Nov, 2007 12:00am
Buffeted by critics, Hillary Clinton hits rough patch

Buffeted by critics, Hillary Clinton hits rough patch

Buffeted by attacks from her rivals and accused of political double-talk, Democratic presidential front-runner Hillary Clinton has hit a rough patch on the road to her party's nomination.
Published 09 Nov, 2007 12:00am
'Fujimori directed 'dirty war' in Peru'

'Fujimori directed 'dirty war' in Peru'

Peru's top prosecutor said witnesses will show former president Alberto Fujimori directed a "dirty war" against leftist insurgents during his 1990-2000 rule when he goes on trial this month. Prosecutor Jose Pelaez is seeking a 30-year prison sentence for
Published 09 Nov, 2007 12:00am
Gates presses Japan on security role

Gates presses Japan on security role

US Defence Secretary Robert Gates on Thursday pressed Japan to play an international security role in line with its global stature and to resume its main role in the US-led "war on terror."
Published 09 Nov, 2007 12:00am
Japan and US conduct mock nuclear disaster drill

Japan and US conduct mock nuclear disaster drill

Japan and the United States on Thursday conducted their first joint nuclear disaster drill ahead of the planned deployment of a nuclear-powered US aircraft carrier to a port near Tokyo next year.
Published 09 Nov, 2007 12:00am
Court upholds life sentences of three Nazis in 1944 massacre

Court upholds life sentences of three Nazis in 1944 massacre

An Italian court of final appeal on Thursday upheld life sentences against three former Nazi officers convicted in the 1944 massacre of 560 Italian civilians in Tuscany, the ANSA news agency reported. The case was reopened to examine whether testimony fro
Published 09 Nov, 2007 12:00am
Israel gets US aid for anti-missile system

Israel gets US aid for anti-missile system

The United States has given Israel 155 million dollars to develop an advanced missile interception system, Defence Minister Ehud Barak's office said in a statement on Thursday.
Published 09 Nov, 2007 12:00am
Resistant tuberculosis carries global threat: WHO

Resistant tuberculosis carries global threat: WHO

Growing resistance to available tuberculosis (TB) drugs is threatening the world with a new untreatable strain of the deadly disease, experts said at a global lung health conference on Thursday.
Published 09 Nov, 2007 12:00am
Saudi king calls on Iran to avoid escalation

Saudi king calls on Iran to avoid escalation

Saudi Arabia's King Abdullah has urged Iran to avoid escalation in its stand-off with the West over its nuclear programme and called for a solution that would allow Tehran to use atomic energy for peaceful purposes.
Published 09 Nov, 2007 12:00am
UN nuclear chief should go: Israel

UN nuclear chief should go: Israel

Israeli Deputy Prime Minister Shaul Mofaz called Thursday for Mohamed ElBaradei to be removed as head of the UN nuclear watchdog, saying he had turned a blind eye to archfoe Iran's nuclear ambitions.
Published 09 Nov, 2007 12:00am
German rail union starts freight strike

German rail union starts freight strike

Hundreds of German rail workers walked off the job on Thursday at the start of a 42-hour strike of freight routes that threatens to disrupt manufacturing. The GDL train drivers union rejected an offer from Deutsche Bahn for a new round of wage talks and s
Published 09 Nov, 2007 12:00am
China tells Iran to heed international pressure

China tells Iran to heed international pressure

China on Thursday urged Iran to heed rising international worry about its nuclear ambitions, saying Beijing would seek to work with Europe and the United Nations to defuse the crisis but holding its tongue on any new sanctions.
Published 09 Nov, 2007 12:00am
Georgian president proposes early polls

Georgian president proposes early polls

Georgian President Mikhail Saakashvili promised on Thursday to bring forward presidential elections to January in an attempt to defuse a major political crisis which has alienated his supporters at home and abroad.
Published 09 Nov, 2007 12:00am
Russia expels Georgian diplomats

Russia expels Georgian diplomats

Russia ordered three Georgian diplomats on Thursday to leave the country, retaliating for a similar move by Tbilisi a day earlier. "We are expelling three senior diplomats from the Georgian mission," a Foreign Ministry spokeswoman said, without giving fur
Published 09 Nov, 2007 12:00am
Suu Kyi ready to cooperate with government

Suu Kyi ready to cooperate with government

Detained Myanmar opposition leader Aung San Suu Kyi said on Thursday she was ready to work with the former Burma's military junta to ensure proposed negotiations on political reform were a success.
Published 09 Nov, 2007 12:00am
Court backs state appeal in Zuma case

Court backs state appeal in Zuma case

A South African court breathed life into a stalled corruption case on Thursday against former Deputy President Jacob Zuma, possibly hurting his push to take over as leader of the ruling ANC party and the country.
Published 09 Nov, 2007 12:00am
Seven killed in Dubai bridge collapse

Seven killed in Dubai bridge collapse

Seven people were killed and about 15 others injured when a Dubai bridge collapsed in a luxury area of the Gulf Arab emirate on Thursday, the police said. "According to initial reports, seven are dead and about 15 are injured," said deputy police chief Ja
Published 09 Nov, 2007 12:00am
Iran urges India against closer ties with US

Iran urges India against closer ties with US

A senior Iranian official urged New Delhi on Thursday not to drift too close to Washington, emphasising his country's wish to be a major energy supplier to a "friendly" India.
Published 09 Nov, 2007 12:00am
Sterling remains at 26-year peak

Sterling remains at 26-year peak

Sterling rose to fresh 26-year highs against the dollar on Thursday after the Bank of England left interest rates unchanged at 5.75 percent, disappointing minority expectations for a cut.
Published 09 Nov, 2007 12:00am
Dollar near record low in London

Dollar near record low in London

The dollar teetered close to its all-time lows against the euro on Thursday as the market waited to see whether the European Central Bank would voice concern about the sharp rally in the single currency.
Published 09 Nov, 2007 12:00am
Seoul shares fall

Seoul shares fall

Seoul stocks fell 3.1 percent to a two-week closing low on Thursday, posting their biggest daily percentage fall in nearly three weeks, as fears over global credit markets hit banks such as Shinhan Financial and exporters.
Published 09 Nov, 2007 12:00am
Thursday's early afternoon trade: US equities plummet

Thursday's early afternoon trade: US equities plummet

US stocks fell sharply on Thursday, with the Nasdaq down 3 percent, as an outlook and comments by the CEO of tech bellwether Cisco Systems Inc raised worries that credit market turmoil was putting a damper on business spending.
Published 09 Nov, 2007 12:00am
Credit spreads slightly wider

Credit spreads slightly wider

European credit spreads made large intra-day swings in thin trading volumes on Thursday, recovering most of a steep early loss to emerge slightly wider on the day. By 1530 GMT, the iTraxx Crossover index, made up of 50 mostly "junk"-rated credits, was at
Published 09 Nov, 2007 12:00am
Credit spreads slightly wider

Credit spreads slightly wider

European credit spreads made large intra-day swings in thin trading volumes on Thursday, recovering most of a steep early loss to emerge slightly wider on the day. By 1530 GMT, the iTraxx Crossover index, made up of 50 mostly "junk"-rated credits, was at
Published 09 Nov, 2007 12:00am
Indian shares slide

Indian shares slide

Indian share prices fell 1.2 percent Thursday as sentiment weakened after Wall Street plummeted on fears of an economic slowdown sparked by high crude oil prices and a weak dollar, dealers said. They said banking, metal and property stocks fell.
Published 09 Nov, 2007 12:00am
Philippines shares lower

Philippines shares lower

Philippines share prices closed 2.5 percent lower on Thursday, its worst finish in almost three weeks due to the sharp plunge on Wall Street and higher oil prices, dealers said. The composite index lost 96.16 points to 3,692.10 off a low of 3,682.85.
Published 09 Nov, 2007 12:00am
Britain's top share index flat

Britain's top share index flat

Britain's top share index ended flat on Thursday as gloom in banks on worries over possible write-downs and tough market conditions offset lustre in mining shares after BHP Billiton approached Rio Tinto. The FTSE 100 closed down 3.2 points or 0.05 percent
Published 09 Nov, 2007 12:00am
International operations to drive CME revenue

International operations to drive CME revenue

Revenue from trading products in countries like Brazil, South Korea, China, Mexico and India will account for an increasing and significant portion of total revenue for CME Group Inc, as the world's largest futures exchange embarks on a bullish global exp
Published 09 Nov, 2007 12:00am
London coffee down, sugar up

London coffee down, sugar up

London robusta coffee futures were lower on Thursday with the market retreating slightly after reaching contract highs the previous day, while sugar was up and cocoa mixed. Coffee dealers said the market advance in recent days was largely due to a supply
Published 09 Nov, 2007 12:00am
Oil slips on US economic worries

Oil slips on US economic worries

Oil prices eased Thursday as comments from the US Federal Reserve Chairman stirred concerns about the health of the top economy and dragged prices further away from the $100 milestone. Fed Chairman Ben Bernanke said the US economy has remained resilient i
Published 09 Nov, 2007 12:00am
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