News Archives for Print - 2008-01-11

'IMF does not predict US recession'

The International Monetary Fund is not predicting a recession for the United States although risks of one have increased, an IMF spokesman said on Thursday.

Published 11 Jan, 2008 12:00am

US retail sales sombre; jobless claims drop

Major US retailers on Thursday reported gloomy sales for the critical December shopping season, while a separate report showed new claims for jobless benefits fell unexpectedly in the latest week, somewhat easing concerns of a weakening job market.

Published 11 Jan, 2008 12:00am

Prepare for big flu pandemic economic hit: UN

Governments around the world need to do more to prepare for the dramatic economic impact of the next flu pandemic, the United Nations influenza co-ordinator said on Thursday. David Nabarro said his team had recently collected information from nearly 150 c

Published 11 Jan, 2008 12:00am

BoE keeps rates steady

The Bank of England kept interest rates steady at 5.50 percent on Thursday, ending speculation it might cut for a second month running, but analysts remain convinced borrowing costs will come down next month.

Published 11 Jan, 2008 12:00am

BoE keeps rates steady

The Bank of England kept interest rates steady at 5.50 percent on Thursday, ending speculation it might cut for a second month running, but analysts remain convinced borrowing costs will come down next month.

Published 11 Jan, 2008 12:00am

BoE keeps rates steady

The Bank of England kept interest rates steady at 5.50 percent on Thursday, ending speculation it might cut for a second month running, but analysts remain convinced borrowing costs will come down next month.

Published 11 Jan, 2008 12:00am

Evidence mounts of weak November in eurozone industry

Eurozone industry suffered a setback in November, according to national data on Thursday that showed French and Spanish production mirrored a decline already seen in German industrial output.

Published 11 Jan, 2008 12:00am

Two Chinese firms in revamped Singapore index

Two Chinese firms on Thursday were added to Singapore's benchmark Straits Times Index (STI), which has been slimmed down and revamped in a bid to spur trading on the city-state's bourse. The index has been reduced from 47 stocks to 30 blue chips ranked by

Published 11 Jan, 2008 12:00am

Africa ousts China as main concern in piracy war

African countries have replaced China as the main concern in the fight against unsafe and counterfeit goods worth over $200 billion in trade every year, a top customs official said on Thursday.

Published 11 Jan, 2008 12:00am

ECB holds rates

The European Central Bank left interest rates unchanged on Thursday, but President Jean-Claude Trichet said policy is certainly not neutral and the ECB is ready to take pre-emptive action against inflation if needed.

Published 11 Jan, 2008 12:00am

ECB holds rates

The European Central Bank left interest rates unchanged on Thursday, but President Jean-Claude Trichet said policy is certainly not neutral and the ECB is ready to take pre-emptive action against inflation if needed.

Published 11 Jan, 2008 12:00am

ECB holds rates

The European Central Bank left interest rates unchanged on Thursday, but President Jean-Claude Trichet said policy is certainly not neutral and the ECB is ready to take pre-emptive action against inflation if needed.

Published 11 Jan, 2008 12:00am

Iran crude exports rise

Iran's oil trade is unaffected by international banking pressure and the country is exporting just over 2.4 million barrels per day of crude, a senior Iranian oil official said on Thursday.

Published 11 Jan, 2008 12:00am

Wal-Mart same-store sales rise

Wal-Mart Stores Inc on Thursday reported a 2.4 percent rise in December sales at US stores open at least a year, beating Wall Street expectations, as customers flocked to its stores for cheap groceries.

Published 11 Jan, 2008 12:00am

Tata group unveils world's cheapest car

India's giant Tata Group unveiled Thursday a 2,500-dollar car it bills as the world's cheapest amid predictions the compact, no-frills vehicle could revolutionise how the nation of 1.1 billion people travels.

Published 11 Jan, 2008 12:00am

Counter-bid of $3.6 billion: Burren says no talks with Indian firm

Burren Energy said it had no contact from an Indian group whose adviser said is plotting a rival bid to a $3.6 billion offer from Italy's Eni, but the oil explorer's shares still rose on hopes of a counter-bid.

Published 11 Jan, 2008 12:00am

Around one million people at risk of poverty in Austria

Around one person in eight in Austria lives close to or below the poverty line, nearly half of them permanently, a regular survey by Statistik Austria showed on Thursday.

Published 11 Jan, 2008 12:00am

Philippines exports down

Philippine merchandise exports fell 2.0 percent from a year earlier to 3.95 billion dollars in November amid a downturn in electronics shipments, the government said Thursday. Electronic products, which make up the bulk of Philippine exports, dropped 4.5

Published 11 Jan, 2008 12:00am

Germany to remain anti-nuclear stronghold

Germany will uphold staunch political opposition to atomic energy, unperturbed by the mood swinging back in favour of nuclear power elsewhere. Oil at record highs, climate worries, and the need to cut dependency on energy imports is due to move the Britis

Published 11 Jan, 2008 12:00am

Canada's AECL agrees on nuclear study in China

Atomic Energy of Canada Ltd has agreed to cooperate with the Nuclear Power Institute of China to study nuclear technology that uses less uranium in response to a possible future shortage of the fuel.

Published 11 Jan, 2008 12:00am

'Green Revolution' pioneer sees crisis in India's agriculture

Indian agriculture is heading for a crisis as food output stagnates and millions of poor farmers struggle with high debt and crop failures, the nation's foremost farm scientist has warned.

Published 11 Jan, 2008 12:00am

Swiss Army Knife makers branch out

It was the flip-open tool of the 20th century, but the Swiss Army Knife fell out of favour as mobile phones and MP3 players vied for pocket space.

Published 11 Jan, 2008 12:00am

Australian banks under pressure over US subprime exposure

Shares in Australia's top banks came under pressure on Thursday after a report put their exposure to the US subprime crisis at one billion dollars (884 million US).

Published 11 Jan, 2008 12:00am

Japan's economy weaker, world growth risks rise

A leading contender to succeed Bank of Japan Governor Toshihiko Fukui said on Thursday Japan's economic slowdown was expected to continue for some time, reinforcing views that the central bank will wait at least until late this year to raise interest rate

Published 11 Jan, 2008 12:00am

Lone Star chief in South Korea for legal proceedings

The chairman of US equity fund Lone Star has arrived in South Korea where he is expected to testify in court and face separate questioning over allegations of fraud, officials said Thursday.

Published 11 Jan, 2008 12:00am

Lone Star chief in South Korea for legal proceedings

The chairman of US equity fund Lone Star has arrived in South Korea where he is expected to testify in court and face separate questioning over allegations of fraud, officials said Thursday.

Published 11 Jan, 2008 12:00am

India ICICI Bank shares surge on unit listing plans

Shares in ICICI Bank rose as much as 6.8 percent to a record high on Thursday after its managing director said India's top private-sector bank wanted to list at least four subsidiaries, starting with its broking arm.

Published 11 Jan, 2008 12:00am

India ICICI Bank shares surge on unit listing plans

Shares in ICICI Bank rose as much as 6.8 percent to a record high on Thursday after its managing director said India's top private-sector bank wanted to list at least four subsidiaries, starting with its broking arm.

Published 11 Jan, 2008 12:00am

Nigeria's foreign reserves rise to 51.3 billion dollars

Nigeria's foreign currency reserves rose to 51.32 billion dollars at the end of December 2007 from 49.96 billion in the preceding month, the Central Bank of Nigeria (CBN) said Thursday. The bank said the reserves had grown steadily in the last three years

Published 11 Jan, 2008 12:00am

Argentine stocks slump

Argentine stocks sank on Wednesday to a four-month closing low, as investors shed the heavily weighted Argentine unit of Brazil state oil company Petrobras after it denied rumours of a pending share buyback. The MerVal index of the 42 leading stocks fell

Published 11 Jan, 2008 12:00am

Thai share prices sag

Thai share prices closed 2.47 percent lower on Thursday as selling spread across the board amid sustained concerns over a possible recession in the US economy, dealers said. They said investors dumped key domestic blue chip stocks including banking and en

Published 11 Jan, 2008 12:00am

Taiwan stocks tumble

Taiwan stocks fell 0.3 percent on Thursday due to uncertainty ahead of legislative elections over the weekend, with shares of contract electronics maker Hon Hai giving up early gains despite logging record sales. The main TAIEX share index ended down 27.7

Published 11 Jan, 2008 12:00am

Chinese stocks end at two-month high

China's key stock index rose 0.38 percent to a two-month closing high in heavy trade on Thursday as expectations for high inflation pushed up metals, agriculture and other resource shares. The Shanghai Composite Index ended at 5,456.541 points, with gaine

Published 11 Jan, 2008 12:00am

Hong Kong shares decline

Hong Kong stocks fell on Thursday as a decision by Beijing to intervene to brake rising prices hit Chinese energy and food shares, with top Asian oil refiner Sinopec Corp the top blue chip casualty. The benchmark Hang Seng Index closed down 1.4 percent, w

Published 11 Jan, 2008 12:00am

US stocks up

US stocks rose on Wednesday and the Nasdaq broke an eight-day losing streak, as talk of recession pushed investors into health care and other defensive sectors seen as resistant to a slowdown. After stocks kicked the year off with their worst five-day sta

Published 11 Jan, 2008 12:00am

US Treasury prices down

US Treasuries fell on Wednesday in choppy trading as the stock market staged a late rally, breaking free from recession fears that gripped it much of the session. Safe-haven bids for bonds ebbed and flowed, mirroring another rollercoaster session in equit

Published 11 Jan, 2008 12:00am

US Treasury prices down

US Treasuries fell on Wednesday in choppy trading as the stock market staged a late rally, breaking free from recession fears that gripped it much of the session. Safe-haven bids for bonds ebbed and flowed, mirroring another rollercoaster session in equit

Published 11 Jan, 2008 12:00am

US corporate bonds spread widen

US corporate bonds sold off on Wednesday and the cost of protecting debt against default rose to a record high as worries about a recession spooked the credit markets. The main index of investment-grade credit default swaps widened to a record 102.5 basis

Published 11 Jan, 2008 12:00am

US corporate bonds spread widen

US corporate bonds sold off on Wednesday and the cost of protecting debt against default rose to a record high as worries about a recession spooked the credit markets. The main index of investment-grade credit default swaps widened to a record 102.5 basis

Published 11 Jan, 2008 12:00am

Indian shares slip

Indian share prices fell 1.38 percent on Thursday as investors locked in gains after the benchmark Sensex hit a new intra-day high, dealers said. They said investors were cautious ahead of earnings from India's second largest exporter Infosys Technologies

Published 11 Jan, 2008 12:00am

Singapore shares weaken

Singapore share prices closed 1.00 percent lower on Thursday as investors continued to be cautious on heightened risks that the US economy will head into recession, dealers said. They said the revamp of the Straits Times Index (STI), re-launched Thursday,

Published 11 Jan, 2008 12:00am

Tokyo stocks finish lower

Japanese stocks slid on Thursday to an 18-month closing low, dragged down by automakers and property shares sold on worries about the US economy and lingering fears about the impact of the global credit crunch. Long-term concerns about Japan's economy wer

Published 11 Jan, 2008 12:00am

Philippines shares surge

Philippines share prices closed 1.1 percent higher on Thursday as investors snapped up bargains after being encouraged by overnight gains on Wall Street, dealers said. But volumes were thin amid cautiousness following recent sell-offs, they warned.

Published 11 Jan, 2008 12:00am

Yuan eases on firmer global dollar

The yuan slipped against the dollar on Thursday, partly because of the strength of the dollar on global markets, but dealers said the Chinese currency would soon resume its uptrend. Before trading began, the central bank set its daily mid-point at 7.2805,

Published 11 Jan, 2008 12:00am

Dollar near nine-month high

The dollar held near a nine-month high against sterling on Thursday on rising expectations that the Bank of England will cut interest rates later in the day amid growing concerns about Britain's economic outlook. The yen edged up from overnight lows again

Published 11 Jan, 2008 12:00am

Weak German data buoys dollar, yen falls on stocks

The dollar rose on Wednesday, shrugging off worries of a US recession, as investors started to focus on a potential growth slowdown in the euro zone after gloomy German industrial output and retail data. A slower pace of expansion in the common monetary a

Published 11 Jan, 2008 12:00am

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Thursday. 68.58/68.58 (previous 68.58/68.58). Call Money Rates: 2.00-10.00 percent (previous 3.00-10.00 percent.

Published 11 Jan, 2008 12:00am

Australian dollar aided by rates

The Australian dollar was broadly firmer on Thursday, in part on a narrowing in the country's trade deficit, while talk of an imminent UK rate cut lifted it to a decade high against the British pound. A widening yield advantage also assisted the Aussie's

Published 11 Jan, 2008 12:00am

Asian currencies listless amid uncertainty

Asian currencies were steady on Thursday as investors held back because of uncertainty over the outlook for the US economy and rate decisions due in Europe later in the day. Traders said the market was also cautious because central banks in the Philippine

Published 11 Jan, 2008 12:00am

Swiss franc holds steady

The Swiss franc was little changed against euro on Thursday as investors awaited policy decisions of the European Central Bank and the Bank of England as well as a speech by Federal Reserve Chairman Ben Bernanke. The franc was near flat against the euro,

Published 11 Jan, 2008 12:00am

India to host AFC Challenge Cup 2008

India had been picked as the new host of the second AFC Challenge Cup 2008, stated to run from 30th July to 10th August 2008. The biennial event to be played among Asia's 20 lower-ranked countries was originally scheduled to be held from 1-16 March in Chi

Published 11 Jan, 2008 12:00am

Henin and Kuznetsova in one versus two Sydney final

World number one Justine Henin stretched her winning streak to 27 matches as she beat fourth-ranked Ana Ivanovic to set up a one-versus-two final with Svetlana Kuznetsova at the Sydney International on Thursday.

Published 11 Jan, 2008 12:00am

Walcott's late strike frustrates Spurs

Theo Walcott came to Arsenal's rescue as his late goal frustrated Tottenham and earned a 1-1 draw in the League Cup semi-final first leg here on Wednesday. Juande Ramos's side looked set to end a nine-year winless run against their north London rivals whe

Published 11 Jan, 2008 12:00am

Bucknor's umpire group lends support

The West Indies Cricket Umpires Association (WICUA) ripped the International Cricket Council (ICC) Wednesday for firing umpire Steve Bucknor from next week's Australia-India test in Perth.

Published 11 Jan, 2008 12:00am

South Africa in command after Smith century

Graeme Smith stroked a fluent 13th Test century to keep South Africa on top in the third and final Test against West Indies on Thursday. South Africa were 213 for one, a lead of 74 runs after they had bowled out the tourists for 139, when bad light ended

Published 11 Jan, 2008 12:00am

Lawson hopes Australia will tour Pakistan

Pakistan cricket coach Geoff Lawson on Thursday said security assessments after next month's elections will determine whether Australia will go ahead with their planned tour here. Lawson was speaking after learning of a suicide bomb blast that killed at l

Published 11 Jan, 2008 12:00am

Altaf condemns Lahore blast

Muttahida Qaumi Movement Chief Altaf Hussain has condemned the bombing in Lahore and appealed to party workers to donate blood to the injured. He said the country's enemies were trying to destabilise the country with their cowardly acts and wanted to dest

Published 11 Jan, 2008 12:00am

Kenyan leaders agree to Annan's mediation

Kenya's rival leaders agreed on Thursday to work with a mediation panel led by former UN chief Kofi Annan to end a political crisis that has claimed hundreds of lives, the head of the African Union said.

Published 11 Jan, 2008 12:00am

Colombia rebels free two hostages

Marxist rebels freed two women hostages from Colombia's jungle on Thursday in a deal brokered by Venezuela's leftist president, Hugo Chavez, that could mark a breakthrough in peace efforts.

Published 11 Jan, 2008 12:00am

Iran airs own video of US ship incident

Iran on Thursday aired its own video of an incident in the Strait of Hormuz with US warships, in a bid to counter Pentagon accusations that the Iranians warned they could blow up the American vessels.

Published 11 Jan, 2008 12:00am

Tamil Tigers ready to face all-out war

Sri Lanka's Tamil Tiger rebels vowed on Thursday to fight a full-scale civil war if the government wages one after scrapping the remains of a tattered ceasefire, and called on Norway to stay on as mediator.

Published 11 Jan, 2008 12:00am

Afghanistan welcomes plan to boost US troop numbers

Afghanistan on Thursday welcomed US plans to send up to 3,000 additional marines to counter an expected Taliban spring offensive but insisted the long-term solution is to boost Afghan forces. The defence ministry said more international troops are needed

Published 11 Jan, 2008 12:00am

Gaza isolation helping extremists: UN

The growing isolation of the Gaza Strip since the Hamas wrested control in June is helping extremists, the head of the UN agency for Palestinian refugees said Thursday. Efforts to sideline Hamas over their refusal to recognise Israel are "putting people i

Published 11 Jan, 2008 12:00am

US warplanes pound southern Baghdad outskirts

US warplanes launched their biggest air strike in Iraq since at least 2006 on Thursday, bombarding date palm groves on Baghdad's southern outskirts with more than 40,000 pounds of bombs in a matter of minutes.

Published 11 Jan, 2008 12:00am

US blacklists Iranian commander and TV station

The US Treasury said om Wednesday it had blacklisted a high-ranking Iranian Revolutionary Guards officer and a Syrian-based television station for allegedly "fuelling" insurgent activity in Iraq.

Published 11 Jan, 2008 12:00am

Britain starts new push for nuclear power

Britain gave the go-ahead to a new generation of nuclear power stations on Thursday, setting no limits on nuclear expansion and adding momentum to atomic energy's worldwide renaissance.

Published 11 Jan, 2008 12:00am

British bank Barclays ripped off by impostor chairman

A scheming conman walked off with a bagful of cash from Barclays, Britain's third-biggest bank, by posing as its chairman, the bank admitted Thursday. The fraudster marched into a Barclays branch and sauntered out with 10,000 pounds (19,600 dollars, 13,40

Published 11 Jan, 2008 12:00am

India and China to sign five accords

India and China will sign five agreements, including a pact between the two state-run railways, during Prime Minister Manmohan Singh's visit to China next week, a cabinet minister said Thursday. Singh is scheduled to leave Sunday on a three-day visit to C

Published 11 Jan, 2008 12:00am

Sudan admits attacking UN and AU Darfur peacekeepers

Sudan admitted on Thursday that its troops had opened fire on a joint UN/African Union peacekeeping convoy in Darfur, contradicting an earlier denial by its ambassador to the United Nations.

Published 11 Jan, 2008 12:00am

Sterling rises broadly

Sterling rose broadly after the Bank of England left rates on hold on Thursday, while other major currencies held steady ahead of speeches from euro zone and US central bank chiefs. Following a run of weak retail and consumer indicators, markets had ratch

Published 11 Jan, 2008 12:00am

Pound remains at record low

Sterling fell to a record low versus the euro on Thursday after an on-hold decision from the Bank of England did not alter expectations for rate cuts soon, in contrast to a hawkish message from the European Central Bank.

Published 11 Jan, 2008 12:00am

Indian rupee little changed

The Indian rupee traded in a narrow band to end little changed on Thursday, with the central bank suspected of mopping up dollar inflows, dealers said. The partially convertible rupee ended at 39.285/295, per dollar, a shade softer than the previous finis

Published 11 Jan, 2008 12:00am

Indonesian bond prices slump

Indonesian bond prices tumbled on Thursday ahead of the launch of a new issue of up to $2 billion that could come later in the day and that is expected to offer a substantially higher yield than existing Indonesian debt.

Published 11 Jan, 2008 12:00am

Indonesian bond prices slump

Indonesian bond prices tumbled on Thursday ahead of the launch of a new issue of up to $2 billion that could come later in the day and that is expected to offer a substantially higher yield than existing Indonesian debt.

Published 11 Jan, 2008 12:00am

Thursday's early trade: market rises on countrywide talk

US stocks rose on Thursday after a Wall Street Journal report that Bank of America is in talks to buy mortgage lender Countrywide Financial Corp sent financial stocks higher. The Dow Jones industrial average was up 73.64 points, or 0.58 percent, at 12,808

Published 11 Jan, 2008 12:00am

Credit spreads edge tighter

European credit spreads tightened slightly on Thursday, along with gains in European stock markets, following an overnight rally in US equities. But traders and analysts said gains were comparatively small as investors remained focused on economic concern

Published 11 Jan, 2008 12:00am

Credit spreads edge tighter

European credit spreads tightened slightly on Thursday, along with gains in European stock markets, following an overnight rally in US equities. But traders and analysts said gains were comparatively small as investors remained focused on economic concern

Published 11 Jan, 2008 12:00am

Closing stock market indices

Major stock markets outside the United States ended on Thursday.

Published 11 Jan, 2008 12:00am

UK's top share index falls

Britain's top shares fell 0.8 percent on Thursday after the Bank of England (BoE) kept interest rates on hold, but Sainsbury triumphed over the gloom thanks to an upbeat trading update. The FTSE 100 ended down 50 points at 6,222.7.

Published 11 Jan, 2008 12:00am

Germany to exempt EU groups from investment limits law

Germany will bow to pressure from the European Commission and amend a proposed law on foreign investment limits to exempt EU-based investors, a press report said Thursday.

Published 11 Jan, 2008 12:00am

Citigroup and Merrill in talks for foreign capital

Citigroup Inc and Merrill Lynch & Co Inc are in discussions to receive more capital from investors, primarily foreign governments, The Wall Street Journal reported on Thursday.

Published 11 Jan, 2008 12:00am

Citigroup and Merrill in talks for foreign capital

Citigroup Inc and Merrill Lynch & Co Inc are in discussions to receive more capital from investors, primarily foreign governments, The Wall Street Journal reported on Thursday.

Published 11 Jan, 2008 12:00am

US economy to grow 2.3 percent, escaping recession: IIF

A group of the world's biggest international banks said Thursday the struggling US economy likely would escape a recession in 2008 and grow 2.3 percent for the year. "There are important signs of economic resilience which suggest that recession can be avo

Published 11 Jan, 2008 12:00am

Sainsbury sales rise cheers retailers

J. Sainsbury Plc, Britain's third-largest supermarket group, said its sales rose and gave a relatively upbeat view of consumer spending, bucking the trend of retailers' gloomy predictions.

Published 11 Jan, 2008 12:00am

Sainsbury sales rise cheers retailers

J. Sainsbury Plc, Britain's third-largest supermarket group, said its sales rose and gave a relatively upbeat view of consumer spending, bucking the trend of retailers' gloomy predictions.

Published 11 Jan, 2008 12:00am

New York launches antitrust probe of Intel

New York state launched a formal investigation on Thursday to determine if Intel Corp, the world's biggest chip maker, violated state and US antitrust laws to squeeze out rival Advanced Micro Devices Inc.

Published 11 Jan, 2008 12:00am

Bernanke signals bold rate action to lift US growth

Federal Reserve Chairman Ben Bernanke on Thursday said the US central bank was ready to act aggressively to counter a deep housing slump and credit market strains that were putting economic growth at risk. "In light of recent changes in the outlook for an

Published 11 Jan, 2008 12:00am

Dubai hopes to outshine LME with plastics futures

Plastics traders and consumers are hoping the launch of a new plastics futures contract in Dubai will offer a useful hedging tool and greater price transparency, ensuring success where London's LME has so far failed.

Published 11 Jan, 2008 12:00am

London coffee, cocoa and sugar rise

Investment fund buying drove London coffee and cocoa futures to new peaks on Thursday, while two-way speculative dealings and profit taking kept the lid on white sugar which closed flat. London March robusta coffee futures hit a contract high of $2,016 pe

Published 11 Jan, 2008 12:00am

Oil tumbles $2 as economic worries mount

Oil prices tumbled 2 percent on Thursday, falling farther below last week's $100 peak, as concerns about a global economic slowdown raised the possibility of weakening energy demand. US crude settled down $1.96 at $93.71 a barrel by 1928 GMT, adding to a

Published 11 Jan, 2008 12:00am

US corn pile to dip on big demand

Soaring demand for corn will trim US corn supplies this year from previous estimates, giving investors another reason to buy corn, keeping prices near the current 11-year highs or higher, analysts said.

Published 11 Jan, 2008 12:00am

Rotterdam vegetable oil prices

Thursday's Rotterdam vegetable oil prices at 1700 GMT.

Published 11 Jan, 2008 12:00am

Rotterdam vegetable oil prices

Thursday's Rotterdam vegetable oil prices at 1700 GMT.

Published 11 Jan, 2008 12:00am

New York cotton futures turn down

Cotton futures slipped heading into Wednesday's close, giving up earlier gains that led to a one-month high, as speculative profit takers decided to get out when resistance proved a challenge, traders said. Brokers noted that speculative buying pushed ope

Published 11 Jan, 2008 12:00am

Copper slips

Copper slipped fractionally in early London Metal Exchange business on Thursday as fears about recession got the better of optimism about Chinese buying, analysts said. Futures for delivery in three months in the industrial metal, often seen as an indicat

Published 11 Jan, 2008 12:00am

Gold higher in choppy European trade

Gold gained in choppy European trade on Thursday as a weaker dollar and bargain hunting lifted the metal closer to record highs. Spot gold fell early on as low as $866 an ounce but then recovered to $886.30. It was quoted at $883.50/884.30 an ounce by 151

Published 11 Jan, 2008 12:00am

US MIDDAY: coffee down; cocoa up

ICE arabica coffee futures edged mostly lower early Thursday, with support coming from buying related to index reweighing, while US cocoa rose on speculative buying, traders said. On the screen, the ICE March coffee contract was 0.05 cent lower at $1.3555

Published 11 Jan, 2008 12:00am

US MIDDAY: sugar eases

Raw sugar futures were soft in early business on Thursday as the market extended a pull-back from one-year highs reached earlier in the week, brokers said. "It seems like the market may be under a little producer pressure, but otherwise, it's very quiet.

Published 11 Jan, 2008 12:00am

US MIDDAY: wheat gains

US wheat futures were very volatile on Thursday ahead of the release early Friday of the US Department of Agriculture's January crop data, traders and analysts said.

Published 11 Jan, 2008 12:00am

US MIDDAY: copper down

US copper futures were soft in early trade on Thursday, as prices extended a pull-back from two-month highs reached on Wednesday and recessionary fears soured this week's bullish sentiment, brokers said.

Published 11 Jan, 2008 12:00am

Currency	Rate
USD PKR Interbank Selling / Nov 13	277.93
USD PKR Interbank Buying / Nov 13	277.83
USD to Japanese Yen / Nov 13	154.85
USD to Swiss Franc / Nov 13	0.88
Pound Sterling to USD / Nov 13	1.27
Euro to USD / Nov 13	1.06

Stock	Volume
S&P 500 / Nov 12	5,983.99
Nasdaq / Nov 12	19,281.40
Dow Jones / Nov 12	43,910.98
India Sensex / Nov 13	78,360.01
Tokyo Nikkei / Nov 13	38,794.83
Hang Seng / Nov 13	19,656.76
FTSE 100 / Nov 13	8,051.12
Germany DAX 30 / Nov 13	19,112.16

Item	Value
Gold 10 Grams PKR / Nov 12	231,911
Crude Oil USD/Barrel / Nov 13	68.33
Karachi Cotton PKR/37.32 KG / Nov 13	18,085
Gold Spot USD/Ounce / Nov 13	2,606.22
Cotton US¢/pound / Nov 13	71.05
Petrol/Litre / Nov 14	248.38

Stock	Price
786 Invest Ltd / Nov 14 786 Investments Limited(786)	6.49 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Nov 14 Al-Abbas Sugar Mills Limited(AABS)	599.28 ▼ 0.00 (0.00%)
Agro Allianz / Nov 14 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Nov 14 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Nov 14 Ali Asghar Textile Mills Limited(AATM)	62.51 ▼ 0.00 (0.00%)
Allied Bank / Nov 14 Allied Bank Limited(ABL)	114.80 ▼ 0.00 (0.00%)
Abbott Lab. / Nov 14 Abbott Laboratories (Pakistan) Limited(ABOT)	1,019.78 ▼ 0.00 (0.00%)
Abson Ind. / Nov 14 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Nov 14 Alfalah Consumer Index ETF.(ACIETF)	12.25 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Nov 14 786 Investments Limited(786)	6.49 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Nov 14 Al-Abbas Sugar Mills Limited(AABS)	599.28 ▲ 0.00 (0.00%)
Agro Allianz / Nov 14 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Nov 14 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Nov 14 Ali Asghar Textile Mills Limited(AATM)	62.51 ▲ 0.00 (0.00%)
Allied Bank / Nov 14 Allied Bank Limited(ABL)	114.80 ▲ 0.00 (0.00%)
Abbott Lab. / Nov 14 Abbott Laboratories (Pakistan) Limited(ABOT)	1,019.78 ▲ 0.00 (0.00%)
Abson Ind. / Nov 14 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Nov 14 Alfalah Consumer Index ETF.(ACIETF)	12.25 ▲ 0.00 (0.00%)

Stock	Volume
WorldCall Telecom / Nov 14 Worldcall Telecom Limited(WTL)	43,291,848 ▲ 0.00
Waves Home Appliances / Nov 14 Waves Home Appliances Limited(WAVESAPP)	33,201,636 ▲ 0.00
Pak Refinery / Nov 14 Pakistan Refinery Limited(PRL)	31,524,926 ▲ 0.00
K-Electric Ltd. / Nov 14 K-Electric Limited(KEL)	27,455,465 ▲ 0.00
Pak Elektron / Nov 14 Pak Elektron Limited(PAEL)	26,996,630 ▲ 0.00
Sui South Gas / Nov 14 Sui Southern Gas Company Limited(SSGC)	26,013,918 ▲ 0.00
The Searle Co. / Nov 14 The Searle Company Limited(SEARL)	25,704,933 ▲ 0.00
Pak Int.Bulk / Nov 14 Pakistan International Bulk Terminal(PIBTL)	23,694,836 ▲ 0.00
Secure Logistics / Nov 14 Secure Logistics Group Limited(SLGL)	23,623,241 ▲ 0.00

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