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Nov 18, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2007-12-06
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 06 Dec, 2007 12:00am
Textile bodies boycott hearing on gas tariff

Textile bodies boycott hearing on gas tariff

Some 19 associations, representing the country's large and small-scale textile units, did not participate in the hearing of Oil and Gas Regulatory Authority (Ogra) on Wednesday, saying that the regulators had failed to cap the domestic gas prices, leading
Published 06 Dec, 2007 12:00am
Textile bodies boycott hearing on gas tariff

Textile bodies boycott hearing on gas tariff

Some 19 associations, representing the country's large and small-scale textile units, did not participate in the hearing of Oil and Gas Regulatory Authority (Ogra) on Wednesday, saying that the regulators had failed to cap the domestic gas prices, leading
Published 06 Dec, 2007 12:00am
BRIndex30 gains 117.31 points

BRIndex30 gains 117.31 points

On Wednesday, the BRIndex30 opened in the green zone, with an upward gap of 48.51 points, at 15,289.11, and remained there for whole of the trading time. It closed at 15,357.91 with a net positive change of 117.31 points and percentage change of 0.77.
Published 06 Dec, 2007 12:00am
Dyes mixed on Jodia Bazaar

Dyes mixed on Jodia Bazaar

The trading on dyes closed mixed on Jodia Bazaar here on Wednesday. The following changes were noted.
Published 06 Dec, 2007 12:00am
BRIndex30 gains 117.31 points

BRIndex30 gains 117.31 points

On Wednesday, the BRIndex30 opened in the green zone, with an upward gap of 48.51 points, at 15,289.11, and remained there for whole of the trading time. It closed at 15,357.91 with a net positive change of 117.31 points and percentage change of 0.77.
Published 06 Dec, 2007 12:00am
Wheat prices up on grain market

Wheat prices up on grain market

Wheat prices maintained upward trend in the local grain market on Wednesday as supply position was tight during the day, dealers said. On the cereal side wheat old and new with Bardan maintained surge in their rates, picking up Rs 30 to Rs 1700 and 1715 d
Published 06 Dec, 2007 12:00am
MoP endorses Shell''s failure in offshore project

MoP endorses Shell''s failure in offshore project

The Ministry of Petroleum (MoP) has endorsed Shell''s failure in offshore drilling project in Indus E basin and allowed its abandonment. Sources said that Ali Khan of Shell in his letter written to MoP had said: "After failing to find carbon in Anne-IX, w
Published 06 Dec, 2007 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 93,966 tonnes cargo including 57,554 tonnes import, 36,412 tonnes export cargo and 3,382 containers (TEUs) during last 24 hours ending at 0700 hours on Wednesday.
Published 06 Dec, 2007 12:00am
MoP endorses Shell's failure in offshore project

MoP endorses Shell's failure in offshore project

The Ministry of Petroleum (MoP) has endorsed Shell's failure in offshore drilling project in Indus E basin and allowed its abandonment. Sources said that Ali Khan of Shell in his letter written to MoP had said: "After failing to find carbon in Anne-IX, we
Published 06 Dec, 2007 12:00am
FOB Gulf corn and soyabean offers firm

FOB Gulf corn and soyabean offers firm

US FOB Gulf corn and soyabean basis offers were firm on Tuesday supported mainly by tight loading capacity for December and January shipment and helped further by steady export demand, traders said.
Published 06 Dec, 2007 12:00am
MoP endorses Shell's failure in offshore project

MoP endorses Shell's failure in offshore project

The Ministry of Petroleum (MoP) has endorsed Shell's failure in offshore drilling project in Indus E basin and allowed its abandonment. Sources said that Ali Khan of Shell in his letter written to MoP had said: "After failing to find carbon in Anne-IX, we
Published 06 Dec, 2007 12:00am
Indonesian palm oil sees few auctions

Indonesian palm oil sees few auctions

Indonesia's palm oil market saw few auctions on Wednesday, with buyers anticipating prices could fall after recent pressure on the Malaysian market, while sellers appeared to be holding out for higher prices. The state marketing centre in Jakarta did not
Published 06 Dec, 2007 12:00am
Sindh flour mills asked to lift 0.1 million wheat from Passco

Sindh flour mills asked to lift 0.1 million wheat from Passco

The Sindh government has directed the flour mills to lift about 0.1 million tonnes wheat stock from Passco godowns in Southern Punjab to put breaks on the rising prices of flour and wheat in the domestic market, sources told Business Recorder here
Published 06 Dec, 2007 12:00am
Drier weather may help Nigeria's cocoa pod growth

Drier weather may help Nigeria's cocoa pod growth

Nigeria's main cocoa regions are enjoying drier weather with long sunny spells after months of higher-than-average rainfall and farmers said on Wednesday the change would help sustain pod growth.
Published 06 Dec, 2007 12:00am
Sindh flour mills asked to lift 0.1 million wheat from Passco

Sindh flour mills asked to lift 0.1 million wheat from Passco

The Sindh government has directed the flour mills to lift about 0.1 million tonnes wheat stock from Passco godowns in Southern Punjab to put breaks on the rising prices of flour and wheat in the domestic market, sources told Business Recorder here
Published 06 Dec, 2007 12:00am
HRW wheat bids steady to mixed

HRW wheat bids steady to mixed

US Plains hard red winter wheat basis bids were steady to mixed Wednesday, with more movement of spot rail cars noted. The market for ordinary and low-protein wheat supplies was softening, dealers reported. Protein premiums for railcar wheat to and throug
Published 06 Dec, 2007 12:00am
Sindh flour mills asked to lift 0.1 million wheat from Passco

Sindh flour mills asked to lift 0.1 million wheat from Passco

The Sindh government has directed the flour mills to lift about 0.1 million tonnes wheat stock from Passco godowns in Southern Punjab to put breaks on the rising prices of flour and wheat in the domestic market, sources told Business Recorder here
Published 06 Dec, 2007 12:00am
WCE canola rallies on exporter buying

WCE canola rallies on exporter buying

Winnipeg Commodity Exchange canola futures rallied on Tuesday on export-related buying and as the Canadian dollar plunged, raising hopes for more export deals, traders said. Canola settled $3.40 to $5.50 per tonne higher, with January up $5.50 at $471, Ma
Published 06 Dec, 2007 12:00am
JJVL cuts LPG price by 10 percent

JJVL cuts LPG price by 10 percent

While exhibiting free market mechanism after de-linking from CP based formula of Saudi Arabia the producers have entered into a price war. In response to big increase of Rs 6584 plus by Parco, the Jamshoro Joint Venture Limited (JJVL), Pakistan''s single
Published 06 Dec, 2007 12:00am
CBoT wheat higher

CBoT wheat higher

Soft red winter wheat futures on the Chicago Board of Trade rallied on Tuesday amid signs of improving export demand along with strength in the corn market, traders said.
Published 06 Dec, 2007 12:00am
JJVL cuts LPG price by 10 percent

JJVL cuts LPG price by 10 percent

While exhibiting free market mechanism after de-linking from CP based formula of Saudi Arabia the producers have entered into a price war. In response to big increase of Rs 6584 plus by Parco, the Jamshoro Joint Venture Limited (JJVL), Pakistan's single l
Published 06 Dec, 2007 12:00am
Oil cake market rates

Oil cake market rates

Prices turned higher on the forward cottonseed oilcake market on Wednesday as buyers were in the market to make forward deals ahead of Eid-ul-Asha holidays, dealers said. The December vaida commenced with Rs 3.00 gain at Rs 594.50 and market settled at th
Published 06 Dec, 2007 12:00am
JJVL cuts LPG price by 10 percent

JJVL cuts LPG price by 10 percent

While exhibiting free market mechanism after de-linking from CP based formula of Saudi Arabia the producers have entered into a price war. In response to big increase of Rs 6584 plus by Parco, the Jamshoro Joint Venture Limited (JJVL), Pakistan's single l
Published 06 Dec, 2007 12:00am
Spot rate up by Rs 25 at Rs 3100 on cotton market

Spot rate up by Rs 25 at Rs 3100 on cotton market

The official spot rate was modestly up on the cotton market on Wednesday as supply was tight amid strong demand by the mills, dealers said. The Karachi Cotton Association (KCA) official spot rate was up by Rs 25 to Rs 3100, they said.
Published 06 Dec, 2007 12:00am
Bulls take firm grip on KSE

Bulls take firm grip on KSE

The share market witnessed another bullish session on Wednesday on the back of foreign interest, coupled with local retail investors'' support as the KSE-100 index surged by 101.39 points to close at 14,137.83 points level. The KSE-30 index gained 83.03 p
Published 06 Dec, 2007 12:00am
New York arabica coffee climbs

New York arabica coffee climbs

US arabica coffee futures ended a tad higher on Tuesday on light speculative buying with some pressure from the stronger Brazilian real, traders said. "You're coming toward the end of the year, into the fourth quarter and these funds are trying to keep it
Published 06 Dec, 2007 12:00am
Bulls take firm grip on KSE

Bulls take firm grip on KSE

The share market witnessed another bullish session on Wednesday on the back of foreign interest, coupled with local retail investors' support as the KSE-100 index surged by 101.39 points to close at 14,137.83 points level. The KSE-30 index gained 83.03 po
Published 06 Dec, 2007 12:00am
New York cocoa gains

New York cocoa gains

US cocoa futures finished sharply higher on Tuesday for the second session in a row, with speculative buying lifting prices as a strike began in top cocoa grower Ivory Coast, dealers said. "There's more strength as the strike in the Ivory Coast is pushing
Published 06 Dec, 2007 12:00am
Bulls take firm grip on KSE

Bulls take firm grip on KSE

The share market witnessed another bullish session on Wednesday on the back of foreign interest, coupled with local retail investors' support as the KSE-100 index surged by 101.39 points to close at 14,137.83 points level. The KSE-30 index gained 83.03 po
Published 06 Dec, 2007 12:00am
MGE wheat moves up

MGE wheat moves up

Spring wheat futures on the Minneapolis Grain Exchange closed higher on Tuesday, with spot December reaching a new record top on supportive export news and spillover from the Chicago and Kansas City markets, traders said. All three markets were supported
Published 06 Dec, 2007 12:00am
Economy should grow at least seven percent: SBP chief

Economy should grow at least seven percent: SBP chief

Pakistan''s economy should grow at least 7 percent in the year to June 2008, central bank chief Shamshad Akhtar said on Wednesday, despite the political turmoil besetting the nation.
Published 06 Dec, 2007 12:00am
US copper lower

US copper lower

US copper futures ended down for the second straight day on Tuesday as mounting worries about the subprime mortgage crisis and its potential affect on the real economy sparked renewed weakness in the market this week, analysts said.
Published 06 Dec, 2007 12:00am
Economy should grow at least seven percent: SBP chief

Economy should grow at least seven percent: SBP chief

Pakistan's economy should grow at least 7 percent in the year to June 2008, central bank chief Shamshad Akhtar said on Wednesday, despite the political turmoil besetting the nation.
Published 06 Dec, 2007 12:00am
Kenyan tea prices end mixed

Kenyan tea prices end mixed

Kenya tea prices were mostly eased at this week's auction due to reduced demand from some participants, traders said on Wednesday. Mombasa-based Africa Tea Brokers (ATB) said 125,296 packages were offered at this week's auction with 14,692 unsold.
Published 06 Dec, 2007 12:00am
Economy should grow at least seven percent: SBP chief

Economy should grow at least seven percent: SBP chief

Pakistan's economy should grow at least 7 percent in the year to June 2008, central bank chief Shamshad Akhtar said on Wednesday, despite the political turmoil besetting the nation.
Published 06 Dec, 2007 12:00am
US gold futures rise

US gold futures rise

US gold futures finished sharply higher in choppy trade on Tuesday, boosted by a lower dollar and bullish bets that the expected rate cut by the Federal Reserve will increase liquidity in the bullion market. "You have the fact that the Bank of Canada cut
Published 06 Dec, 2007 12:00am
Gold stays above 800 dollars in Asia

Gold stays above 800 dollars in Asia

Gold held steady above $800 an ounce on Wednesday on the back of a struggling US dollar, while platinum hit a one-week high following a strike by miners in South Africa, the world's main producer.
Published 06 Dec, 2007 12:00am
Indian soyaoil futures fall

Indian soyaoil futures fall

Indian soyaoil futures fell for a second day on Wednesday as traders unwound their long positions in the wake of resistance in the spot market and a drop in world prices. By 2:13 pm (0843 GMT), the December contract on the National Commodity and Derivativ
Published 06 Dec, 2007 12:00am
Oil prices end steady

Oil prices end steady

Oil was steady on Wednesday as the market awaited Opec's decision on production and the release of US oil inventory data, both due later in the day. US crude inched up 8 cents to $88.40 a barrel. It had settled 99 cents lower at $88.32 in the previous ses
Published 06 Dec, 2007 12:00am
Malaysian tin

Malaysian tin

Malaysian tin inched higher on Wednesday, despite a decline in London Metal Exchange prices as healthy foreign demand supported the market, one dealer said.
Published 06 Dec, 2007 12:00am
Shanghai copper bounces

Shanghai copper bounces

Shanghai copper rose 2.6 percent on Wednesday, bouncing after the previous session's slide, but doubts about consumer demand in China and the health of the US economy remained worrisome for investors.
Published 06 Dec, 2007 12:00am
World cotton demand growth to slow in 2007-08: ICAC

World cotton demand growth to slow in 2007-08: ICAC

World cotton demand will rise by 3 percent in 2007/08 to 27.4 million tonnes, a slower growth rate than in the previous three seasons due to factors that include higher cotton prices, an international farm group said on Monday.
Published 06 Dec, 2007 12:00am
World''s first floating wind turbine launched

World''s first floating wind turbine launched

A floating wind turbine that its makers claim could significantly boost the renewable energy sector was officially launched at a trade show in the German capital on Wednesday. Dutch company Blue H Technologies said its invention, which adapts technology u
Published 06 Dec, 2007 12:00am
Indian sugar rises

Indian sugar rises

Indian sugar futures rose on Wednesday, bolstered by firm prices in the spot market and expectations for exports. By 3:21 pm (0951 GMT), both the December contract and the January contract on the National Commodity and Derivatives Exchange were up 0.23 pe
Published 06 Dec, 2007 12:00am
World's first floating wind turbine launched

World's first floating wind turbine launched

A floating wind turbine that its makers claim could significantly boost the renewable energy sector was officially launched at a trade show in the German capital on Wednesday. Dutch company Blue H Technologies said its invention, which adapts technology u
Published 06 Dec, 2007 12:00am
New York sugar firmer

New York sugar firmer

Raw sugar futures closed higher on Tuesday on speculative fund buying while a paucity in leads depressed dealings in the ring, brokers said. ICE Futures March electronic sugar contract added 0.05 cent to 9.76 cents per lb at 1:04 pm EST (1804 GMT), dealin
Published 06 Dec, 2007 12:00am
World's first floating wind turbine launched

World's first floating wind turbine launched

A floating wind turbine that its makers claim could significantly boost the renewable energy sector was officially launched at a trade show in the German capital on Wednesday. Dutch company Blue H Technologies said its invention, which adapts technology u
Published 06 Dec, 2007 12:00am
Soyabeans ends up led by strong corn rally

Soyabeans ends up led by strong corn rally

Soyabean futures at the Chicago Board of Trade climbed on Tuesday, trying to keep pace with the rally in corn given the ongoing fight for US acreage next spring, traders said. "Corn was the catalyst for the strength in the beans. It got people talking abo
Published 06 Dec, 2007 12:00am
SCRAs balance reaches $90.288 million

SCRAs balance reaches $90.288 million

A healthy inflow of portfolio investment was witnessed on Tuesday as 15.227 million dollars came to the country''s equity market, mainly from the US, UK and Hong Kong. The recent data released by the State Bank of Pakistan shows that the total SCRAs balan
Published 06 Dec, 2007 12:00am
CBoT rice gains

CBoT rice gains

Chicago Board of Trade rough rice settled higher on Tuesday on follow-through momentum from Monday's technical bounce and a lack of hedge-related pressure, traders said. Values fell to two-week lows on Monday before rallying and closing higher. Strength i
Published 06 Dec, 2007 12:00am
SCRAs balance reaches $90.288 million

SCRAs balance reaches $90.288 million

A healthy inflow of portfolio investment was witnessed on Tuesday as 15.227 million dollars came to the country's equity market, mainly from the US, UK and Hong Kong. The recent data released by the State Bank of Pakistan shows that the total SCRAs balanc
Published 06 Dec, 2007 12:00am
Tokyo rubber climbs

Tokyo rubber climbs

Tokyo rubber futures edged higher on Wednesday after slipping to a two-month low the previous day as falls in oil prices and a deteriorating technical trend kept the soft commodity under downward pressure.
Published 06 Dec, 2007 12:00am
SCRAs balance reaches $90.288 million

SCRAs balance reaches $90.288 million

A healthy inflow of portfolio investment was witnessed on Tuesday as 15.227 million dollars came to the country's equity market, mainly from the US, UK and Hong Kong. The recent data released by the State Bank of Pakistan shows that the total SCRAs balanc
Published 06 Dec, 2007 12:00am
Malaysian palm oil gains

Malaysian palm oil gains

Malaysian crude palm oil futures ended 0.7 percent higher on Wednesday as investors piled back into the market, heartened by crude markets that rose on a crude oil cartel's decision to keep output levels unchanged.
Published 06 Dec, 2007 12:00am
APDM and ARD fail to finalise draft of 'Charter of Demands'

APDM and ARD fail to finalise draft of 'Charter of Demands'

The Joint Committee of All Parties Democratic Movement (APDM) and Alliance for Restoration of Democracy (ARD) has failed to finalise the draft of 'Charter of Demands'. The issue of deposed judges is said to be the main stumbling block between the members
Published 06 Dec, 2007 12:00am
Total seals $1.5 billion petrochemical deal in Algeria

Total seals $1.5 billion petrochemical deal in Algeria

Total said on Tuesday it would invest $1.5 billion in a petrochemical project in Arzew, Algeria, after it agreed on Tuesday to develop the $3 billion project with Algeria's oil and gas group Sonatrach. The agreement is for the development of a 1.4 million
Published 06 Dec, 2007 12:00am
APDM and ARD fail to finalise draft of 'Charter of Demands'

APDM and ARD fail to finalise draft of 'Charter of Demands'

The Joint Committee of All Parties Democratic Movement (APDM) and Alliance for Restoration of Democracy (ARD) has failed to finalise the draft of 'Charter of Demands'. The issue of deposed judges is said to be the main stumbling block between the members
Published 06 Dec, 2007 12:00am
Turkey to apply welfare reform in stages

Turkey to apply welfare reform in stages

Turkey may implement some parts of a long-delayed social security reform immediately while others are likely to take effect around May, Economy Minister Mehmet Simsek said on Tuesday. The government submitted to parliament last week a social security bill
Published 06 Dec, 2007 12:00am
Status quo not acceptable to Kashmiris: Zulqarnain

Status quo not acceptable to Kashmiris: Zulqarnain

President, Azad Jammu and Kashmir, Raja Zulqarnain Khan has declared that the status quo is not acceptable to the people of the State who must be allowed to move freely within the all parts of the whole State.
Published 06 Dec, 2007 12:00am
Argentina to sell $604 million in bonds to Venezuela

Argentina to sell $604 million in bonds to Venezuela

Argentina will sell $604 million in Boden 2015 bonds to Venezuela, the government said on Tuesday, but it wasn't immediately clear if it was a new issue or tied to a sale announced last month. In an announcement in the Official Bulletin, Argentina said th
Published 06 Dec, 2007 12:00am
US lawmakers laud Musharraf's steps toward democracy

US lawmakers laud Musharraf's steps toward democracy

A delegation of Pakistani special envoys, who met with US lawmakers on the Capitol Hill, have reported broad appreciation for recent steps taken for return to full democracy as well as continued support for progress of the country.
Published 06 Dec, 2007 12:00am
Argentina to sell $604 million in bonds to Venezuela

Argentina to sell $604 million in bonds to Venezuela

Argentina will sell $604 million in Boden 2015 bonds to Venezuela, the government said on Tuesday, but it wasn't immediately clear if it was a new issue or tied to a sale announced last month. In an announcement in the Official Bulletin, Argentina said th
Published 06 Dec, 2007 12:00am
Security forces regain control of Matta

Security forces regain control of Matta

In the ongoing operation of security forces in Swat on last Tuesday night, militant's suspected locations in North West of Puchaar were extensively engaged with artillery fire, says a press release of Media Information Centre, Mingora.
Published 06 Dec, 2007 12:00am
Trade ties with Pakistan to grow further: Iranian CG

Trade ties with Pakistan to grow further: Iranian CG

The Iranian Commercial Attache, Iranian Consulate General at Karachi Ahmed Fasihi has said that the trade volume between Iran and Pakistan are expanding following the preferential trade agreement signed by two Islamic countries.
Published 06 Dec, 2007 12:00am
German state to guarantee regional bank SIVs

German state to guarantee regional bank SIVs

The eastern German state of Saxony is set to support regional bank SachsenLB should it be hit by a payment crisis owing to subprime-related problems, a press report said Wednesday.
Published 06 Dec, 2007 12:00am
Former IMF head Rato joins Lazard investment bank

Former IMF head Rato joins Lazard investment bank

The former head of the International Monetary Fund, Rodrigo Rato, will join investment bank Lazard from February 1, the bank said on Tuesday. Rato, also a former Spanish economy minister, will work as senior managing director of investment banking in an e
Published 06 Dec, 2007 12:00am
German bankruptcy decline to stop in 2008: Allianz

German bankruptcy decline to stop in 2008: Allianz

Weaker economic growth is expected to put an end to a three-year downtrend in German business insolvencies in 2008, Allianz's credit insurance unit Euler Hermes said on Tuesday.
Published 06 Dec, 2007 12:00am
Spending propels Australian growth to three-year high

Spending propels Australian growth to three-year high

Household spending propelled Australia's economy in the third quarter and pushed year-on-year growth to its highest level in three years at 4.3 percent, economists said Wednesday.
Published 06 Dec, 2007 12:00am
US banks urged to 'clean up' credit card practices

US banks urged to 'clean up' credit card practices

US lawmakers urged some of America's largest financial companies to "clean up" their credit card practices Tuesday, amid an ongoing congressional probe of charges and fees imposed on consumers. Senate subcommittee on investigations chairman Carl Levin sai
Published 06 Dec, 2007 12:00am
Vietnam car sales double this year: manufacturers

Vietnam car sales double this year: manufacturers

Vietnamese car sales nearly doubled in the first 11 months of 2007, pushed by a strong rise in demand for passenger cars, manufacturers said on Wednesday. Car sales rose 97 percent during the period, withrers' Association (VAMA) said in its monthly report
Published 06 Dec, 2007 12:00am
ArcelorMittal seeks to buy rest of Brazil unit

ArcelorMittal seeks to buy rest of Brazil unit

ArcelorMittal, the world's largest steelmaker, said on Tuesday it planned to buy the shares in ArcelorMittal Inox Brasil it does not already own for up to 3.2 billion Brazilian reais ($1.78 billion).
Published 06 Dec, 2007 12:00am
Russia ups 2007-10 GDP growth forecast

Russia ups 2007-10 GDP growth forecast

Russia's Economy Ministry raised its gross domestic growth (GDP) growth forecast for 2007-2010, Russian agencies quotes Deputy Minister Andrei Belousov as saying on Tuesday.
Published 06 Dec, 2007 12:00am
France slaps penalties on gas-guzzling cars

France slaps penalties on gas-guzzling cars

France's environment ministry on Wednesday unveiled a system of green taxes on gas-guzzling cars and bonuses for cleaner vehicles. From January 1, any driver who buys a new car emitting more than 160 grams of carbon dioxide per kilometre (just over half a
Published 06 Dec, 2007 12:00am
Credit crunch hits Europe financial services

Credit crunch hits Europe financial services

Financial services in Europe's two biggest centres contracted in November, data showed on Wednesday, in clear evidence that the credit crunch has dealt the industry its biggest blow in several years.
Published 06 Dec, 2007 12:00am
Services growth lowest since March

Services growth lowest since March

Growth in the US service sector slipped in November to its lowest since March, showing some parts of the economy were feeling the strain of upheaval in credit markets and the lingering housing downturn, according to a report released on Wednesday.
Published 06 Dec, 2007 12:00am
US factory orders rise

US factory orders rise

New orders at US factories posted a surprisingly strong 0.5 percent rise in October, helped by demand for defence and transportation equipment, Commerce Department report showed on Wednesday. Wall Street economists surveyed by Reuters had forecast that Oc
Published 06 Dec, 2007 12:00am
Gazprom profits down

Gazprom profits down

Russia's Gazprom energy giant announced on Wednesday slightly reduced profits for the first half of this year compared to the same period in 2006. The company's net profit in the first six months of this year equalled 8.73 billion euros (12.85 billion dol
Published 06 Dec, 2007 12:00am
Gazprom profits down

Gazprom profits down

Russia's Gazprom energy giant announced on Wednesday slightly reduced profits for the first half of this year compared to the same period in 2006. The company's net profit in the first six months of this year equalled 8.73 billion euros (12.85 billion dol
Published 06 Dec, 2007 12:00am
US home loan demand surges to over two-year high

US home loan demand surges to over two-year high

US mortgage applications surged last week to their highest in nearly 2-1/2 years as interest rates plunged, an industry group said on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications, which includes b
Published 06 Dec, 2007 12:00am
Wal-Mart offer to own Japan's chain succeeds

Wal-Mart offer to own Japan's chain succeeds

The world's largest retailer Wal-Mart said Wednesday it has succeeded in its tender offer for full ownership of struggling Japanese subsidiary Seiyu, spending some 850 million dollars. The US giant had launched the tender offer in October despite already
Published 06 Dec, 2007 12:00am
Weak eurozone retail sales signal ECB rates on hold

Weak eurozone retail sales signal ECB rates on hold

Eurozone retail sales turned out much weaker than expected in October, data showed on Wednesday, underlining risks to economic growth next year and supporting views ECB rates would stay on hold for a while. The European Union's statistics office said reta
Published 06 Dec, 2007 12:00am
Airbus seeking Japanese partners for A350

Airbus seeking Japanese partners for A350

European aircraft manufacturer Airbus hopes to persuade Japanese companies to take part in the production of the its midsized long-haul A350 XWB carrier, an Airbus spokeswoman said Wednesday. "We have always wanted to be present in Japan with the A350," s
Published 06 Dec, 2007 12:00am
China signals to adopt tighter monetary policy

China signals to adopt tighter monetary policy

China signalled a shift in its monetary policy on Wednesday, saying it would abandon a decade-long "prudent" policy for a "tight" one with an eye to controlling growth and keeping inflation in check.
Published 06 Dec, 2007 12:00am
Opec maintains oil output levels

Opec maintains oil output levels

Opec froze oil output levels on Wednesday, resisting calls for a hike to help cool sky-high prices that have flirted with 100 dollars and which threaten to dampen global economic growth. The Organisation of Petroleum Exporting Countries decided against an
Published 06 Dec, 2007 12:00am
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