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Sep 19, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2008-02-09
Germany staves off Chinese challenge to top global exports

Germany staves off Chinese challenge to top global exports

Germany, the European economic powerhouse, was the world's leading exporter again in 2007, staving off a challenge from fast-growing China despite the impact of a strong euro on its competitiveness.
Published 09 Feb, 2008 12:00am
Japan's machinery orders down

Japan's machinery orders down

Japan's closely watched machinery orders fell for the first time in five years in 2007, official data showed on Friday, sparking fears that a US slowdown may pull Asia's largest economy down.
Published 09 Feb, 2008 12:00am
WTO upholds US complaint over EU banana imports: US official

WTO upholds US complaint over EU banana imports: US official

The World Trade Organisation has ruled in favour of a complaint by the United States against the European Union's banana import regime, US trade officials said on Friday. "We can confirm that the United States prevailed in its challenge," an official said
Published 09 Feb, 2008 12:00am
Mediators issue revised Doha negotiating texts

Mediators issue revised Doha negotiating texts

Mediators at the World Trade Organisation (WTO) issued revised texts on Friday for the key agriculture and industrial goods negotiations, intended to help reach a new deal to open up world trade by the end of this year.
Published 09 Feb, 2008 12:00am
Police probe broker over links with rogue trader

Police probe broker over links with rogue trader

French police on Friday questioned a share broker over his links with Jerome Kerviel, the rogue trader whose unauthorised deals at Societe Generale led to losses of 4.8 billion euros (7.1 billion dollars), officials said.
Published 09 Feb, 2008 12:00am
Asia not 'immune' to US slowdown: ADB

Asia not 'immune' to US slowdown: ADB

Asian Development Bank chief Haruhiko Kuroda warned Friday that the continent was not immune to a US economic slowdown, despite its resilience amid the housing market turmoil. Asian economies "are not totally immune to global market turbulence and negativ
Published 09 Feb, 2008 12:00am
India inflation crosses four percent

India inflation crosses four percent

India's annual inflation rate accelerated to 4.11 percent on the back of higher food prices, latest data showed on Friday, lessening chances of any early interest rate easing. Inflation climbed to 4.11 percent for the week ended January 26 from 3.93 perce
Published 09 Feb, 2008 12:00am
German industrial output slips

German industrial output slips

Industrial output in Germany, the largest economy in Europe, rose 0.8 percent in December, much lower than expected, official figures showed Friday. For November, industrial output fell a revised 0.3 percent on the month, much better than the original est
Published 09 Feb, 2008 12:00am
Swiss inflation at 14-year high but consumers upbeat

Swiss inflation at 14-year high but consumers upbeat

Consumer price inflation in Switzerland picked up to its fastest pace in 14 years in January, data showed on Friday, rising above the Swiss National Bank's stability threshold for the first time since mid-1995. But consumers remained upbeat in the first q
Published 09 Feb, 2008 12:00am
Kuwait, Saudi Arabia to increase Neutral Zone oil capacity

Kuwait, Saudi Arabia to increase Neutral Zone oil capacity

Kuwait and Saudi Arabia are on track to boost oil output capacity in the shared Neutral Zone between the two countries by 50,000 barrels a day by 2009, a Kuwaiti official said on Monday. The capacity boost would come entirely from the offshore area, takin
Published 09 Feb, 2008 12:00am
Germany urges controls ahead of G7 finance meeting in Tokyo

Germany urges controls ahead of G7 finance meeting in Tokyo

German Finance Minister Peer Steinbrueck has called for a determined approach by the Group of Seven (G7) industrialised countries to the turbulence in global financial markets, ahead of a meeting of G7 finance ministers and central bank heads in Tokyo on
Published 09 Feb, 2008 12:00am
France Telecom raises 2008 cash flow forecast

France Telecom raises 2008 cash flow forecast

France Telecom raised its cash flow outlook for 2008 on Wednesday as it posted a 3.1 percent rise in annual underlying profits, driven by resilient sales growth and rigorous cost control.
Published 09 Feb, 2008 12:00am
Ancient trees give clues to climate change

Ancient trees give clues to climate change

On the shores of lake Nahuel Huapi, in the wild mountains of Argentina's Patagonia, live some of the world's most ancient trees. Known in Spanish as the alerce, the Patagonian cypress grows extremely slowly, but can reach heights over 50 metres (165 feet)
Published 09 Feb, 2008 12:00am
Mbeki dismisses economy fears amid power crisis

Mbeki dismisses economy fears amid power crisis

South African President Thabo Mbeki on Friday dismissed fears of a collapse in the continent's strongest economy while apologising for a power crisis that threatens to clip growth rates. Delivering his annual state of the nation address, the embattled pre
Published 09 Feb, 2008 12:00am
Japan Airlines back in black in third quarter

Japan Airlines back in black in third quarter

Japan Airlines, Asia's largest carrier, said Friday it swung back into the black in the three months to December after a restructuring drive as demand grew for travel within the region. In what the company said was confirmation of the recovery, JAL chairm
Published 09 Feb, 2008 12:00am
New Thai Prime Minister expects lifting of currency controls next week

New Thai Prime Minister expects lifting of currency controls next week

Thailand's newly elected Prime Minister Samak Sundaravej said Friday that he expects the finance ministry and the central bank to lift tough currency controls next week. "We politicians, we think it doesn't do good to the country," Samak said of the excha
Published 09 Feb, 2008 12:00am
Japan minister hopes G7 meeting to calm market

Japan minister hopes G7 meeting to calm market

Japan said Friday it hoped to calm markets with candid talks on the US mortgage crisis at this weekend's meeting of finance ministers and central bankers from seven major nations. Japanese Finance Minister Fukushiro Nukaga said Group of Seven participants
Published 09 Feb, 2008 12:00am
IMF, Honduras near agreement on economic plan

IMF, Honduras near agreement on economic plan

Officials from Honduras and the International Monetary Fund hope to finalise a basic economic plan by the end of February which could set the stage for a standby financing arrangement, the IMF said on Friday.
Published 09 Feb, 2008 12:00am
Chile stocks tumble

Chile stocks tumble

Chilean stocks closed lower in light trade on Thursday, as regional markets slipped eyeing US earnings and economic data. The blue chip IPSA index fell 0.51 percent to 2,731.01 points, while the all-market IGPA index slipped 0.37 percent to 12,767.12.
Published 09 Feb, 2008 12:00am
Argentine stocks dip

Argentine stocks dip

Argentine stocks fell on Thursday, dragged down by market heavyweight steel maker Tenaris, in a low-volume day on the bourse as institutional investors stayed away, traders said.
Published 09 Feb, 2008 12:00am
Philippines shares surge

Philippines shares surge

Philippines share prices closed 0.6 percent higher on Friday as bargain hunters stepped in after three straight days of losses, dealers said. But investors were picky and volumes remained thin as many markets in Asia remained closed for the Lunar New Year
Published 09 Feb, 2008 12:00am
Thai shares close 1.67 percent higher

Thai shares close 1.67 percent higher

Thai share prices closed 1.67 percent higher on Friday amid growing hopes the kingdom's new government would introduce stimulus measures to boost the economy, dealers said. They said the Thai bourse also rose on buying of energy-linked stocks.
Published 09 Feb, 2008 12:00am
US stocks up

US stocks up

US stocks finish higher on Thursday, as relatively cheap valuations tempted investors back to Wall Street after a three-day losing streak that had pushed Nasdaq into an official bear market. Gains in shares of retailers and financial companies, two sector
Published 09 Feb, 2008 12:00am
JGBs extend gains

JGBs extend gains

Japanese government bond futures extended gains on Friday as declining Tokyo shares supported safe-haven demand for government debt and offset the impact from a slump in US Treasuries overnight. A bigger-than-expected drop in machinery orders in December
Published 09 Feb, 2008 12:00am
JGBs extend gains

JGBs extend gains

Japanese government bond futures extended gains on Friday as declining Tokyo shares supported safe-haven demand for government debt and offset the impact from a slump in US Treasuries overnight. A bigger-than-expected drop in machinery orders in December
Published 09 Feb, 2008 12:00am
US Treasury prices slump

US Treasury prices slump

US government debt prices slumped on Thursday as a dismal $9 billion auction of 30-year US government bonds and a rebound in stocks curbed the bid for safe haven Treasuries. Bonds are seen as expensive after an almost nonstop seven-month rally and long ma
Published 09 Feb, 2008 12:00am
US Treasury prices slump

US Treasury prices slump

US government debt prices slumped on Thursday as a dismal $9 billion auction of 30-year US government bonds and a rebound in stocks curbed the bid for safe haven Treasuries. Bonds are seen as expensive after an almost nonstop seven-month rally and long ma
Published 09 Feb, 2008 12:00am
New Zealand shares slip

New Zealand shares slip

New Zealand share prices closed 0.66 percent lower on Friday dragged down by a disappointing result from market leader Telecom despite firmer markets off shore, dealers said. The benchmark NZX-50 index dropped 23.80 points to 3,612.41 on turnover worth 14
Published 09 Feb, 2008 12:00am
Nikkei slips on machinery stocks

Nikkei slips on machinery stocks

Japan's Nikkei stock average fell 1.4 percent on Friday, extending losses as investors sold machinery stocks such as Fanuc Ltd on weak industry data and a halt in TOPIX futures trade limited the ability to hedge.
Published 09 Feb, 2008 12:00am
Toronto stock index rallies back

Toronto stock index rallies back

After a see-saw session, the Toronto Stock Exchange's main index ended higher on Thursday, with gains in resource and banking shares tempered by worries over the state of the US economy. The S&P/TSX composite index closed up 58.17 points, or 0.45 percent,
Published 09 Feb, 2008 12:00am
Indian shares decline

Indian shares decline

Indian share prices closed 0.35 percent lower on Friday in choppy trade amid investor unease about global market trends, dealers said. They said reports that two companies Emaar MGF Land and Wockhardt Hospitals had withdrawn their initial share offerings
Published 09 Feb, 2008 12:00am
Swiss franc dips

Swiss franc dips

The Swiss franc edged lower against the dollar on Friday as an expected rebound on stock markets outweighed an acceleration of Swiss inflation that doused speculation about an early interest rate cut. "Most people expected inflation to be high and took th
Published 09 Feb, 2008 12:00am
Dollar steadies ahead of G7 talks

Dollar steadies ahead of G7 talks

The dollar steadied on Friday after rising against the euro and the yen overnight as most investors stayed on the sidelines before a weekend meeting of Group of Seven finance officials in Tokyo.
Published 09 Feb, 2008 12:00am
Euro slides on growth fears

Euro slides on growth fears

The euro dropped against the dollar on Thursday after European Central Bank President Jean-Claude Trichet said euro zone growth risks are to the downside, paving the way for lower interest rates this year. The euro is now on track for its biggest weekly d
Published 09 Feb, 2008 12:00am
Peru interest rates steady

Peru interest rates steady

Peru's central bank said on Thursday it held its benchmark lending rate steady at 5.25 percent, after raising it in January to stem inflation. In a Reuters poll, 10 out of 11 economists surveyed said they expected the rate would be left unchanged. One eco
Published 09 Feb, 2008 12:00am
Australian dollar gains

Australian dollar gains

The Australian dollar firmed above 89 US cents on Friday, recovering from a one-week low offshore, as investors chased the high-yielding currency on the prospect of further domestic interest rate hikes. Still, gains were capped by lingering risk aversion
Published 09 Feb, 2008 12:00am
Canadian dollar ends down

Canadian dollar ends down

The Canadian dollar closed lower against the US dollar on Thursday, given the nagging concerns that a global economic slowdown could erode demand for the country's key export commodities. Bond prices fell across the curve as investors crept back into risk
Published 09 Feb, 2008 12:00am
Power crisis won't affect World Cup, says Mbeki

Power crisis won't affect World Cup, says Mbeki

South African President Thabo Mbeki brushed off suggestions Friday that an electricity crisis could hamper the staging of the 2010 football World Cup, pledging the tournament would be the best ever.
Published 09 Feb, 2008 12:00am
FIFA to study plans for Premier League matches abroad

FIFA to study plans for Premier League matches abroad

Football's world governing body FIFA said Friday it will study controversial plans by England's Premier League to play some matches abroad. FIFA said it expects to receive an official document from the English Football Association on the proposal, which w
Published 09 Feb, 2008 12:00am
Thai referee gets a beating by entire soccer team

Thai referee gets a beating by entire soccer team

A Thai soccer referee was beaten up by an entire team after sending off three of their players during a match to decide promotion to country's second division, local media reported on Friday.
Published 09 Feb, 2008 12:00am
Egypt to face Cameroon for African title

Egypt to face Cameroon for African title

Cameroon dashed Ghana's African Nations Cup title dreams with a 1-0 semi-final win on Thursday to set up a rematch with their opening round conquerors Egypt in Sunday's final. Defending champions Egypt, seeking their sixth African crown, maintained their
Published 09 Feb, 2008 12:00am
Chakvetadze relishing Mauresmo challenge

Chakvetadze relishing Mauresmo challenge

Top seed Anna Chakvetadze of Russia admitted Thursday that she was relishing the challenge of her quarter-final showdown against home hope Amelie Mauresmo at the WTA Paris Indoor Open here. The 20-year-old Russian has never beaten Mauresmo in their three
Published 09 Feb, 2008 12:00am
Bodyguards, sniffer dogs to protect Aussies

Bodyguards, sniffer dogs to protect Aussies

Personal bodyguards will shadow Australia's cricketers during next month's Pakistan tour as part of planned stringent security usually reserved for visiting heads of state, reports said Friday.
Published 09 Feb, 2008 12:00am
Australia thrash Sri Lanka

Australia thrash Sri Lanka

Australian bowler Nathan Bracken starred as his side thrashed Sri Lanka by 128 runs in a World Cup final rerun in the tri-series competition here Friday. The home side made 253 for six after winning the toss and electing to bat and the Sri Lankans were ne
Published 09 Feb, 2008 12:00am
Six dead in US sugar refinery blast

Six dead in US sugar refinery blast

Six people were killed in a huge blast ripped through a sugar refinery in the US state of Georgia, injuring dozens, authorities said Friday. More than 100 people were inside a building in which the sugar is packed into bags at the Imperial Sugar Co near S
Published 09 Feb, 2008 12:00am
Indian doctor gets life term for Internet porn

Indian doctor gets life term for Internet porn

An Indian doctor has been jailed for life for filming pornographic videos, some involving his patients, and posting the footage on the Internet, officials said Friday. Three other people were sentenced to seven years in jail on Thursday for helping the do
Published 09 Feb, 2008 12:00am
Britain calls for democracy in Bangladesh

Britain calls for democracy in Bangladesh

British Foreign Secretary David Miliband on Friday urged Bangladesh's military backed government to stick by its pledge to lift a state of emergency and hold elections before the end of 2008.
Published 09 Feb, 2008 12:00am
Amnesty calls on Greece to probe immigrants' brutality claim

Amnesty calls on Greece to probe immigrants' brutality claim

Human rights group Amnesty International on Friday called on Greece to investigate the case of 13 Afghan immigrants, including eight minors, them to return to Turkey, according to the testimony given by the migrants, who are in Turkish detention at the co
Published 09 Feb, 2008 12:00am
France's Le Pen gets suspended jail for WWII remarks

France's Le Pen gets suspended jail for WWII remarks

French far-right leader Jean-Marie Le Pen was handed a three-month suspended jail sentence on Friday for describing the Nazi occupation of France as "not especially inhumane." Le Pen, 79, was found guilty of denying a crime against humanity and complicity
Published 09 Feb, 2008 12:00am
Kosovo independence likely next week: Serbia

Kosovo independence likely next week: Serbia

A declaration of Kosovo's independence by the end of next week looked increasingly likely Friday after Serbia said it had information the "illegal" move would happen on February 17.
Published 09 Feb, 2008 12:00am
Mass Turkish rally planned to protest headscarf vote

Mass Turkish rally planned to protest headscarf vote

Turkish lawmakers are expected to approve the scrapping of a ban on Islamic headscarves at universities on Saturday but a mass rally the same day will show the depth of public opposition to the move.
Published 09 Feb, 2008 12:00am
Woman kills two students, self at US college

Woman kills two students, self at US college

A female student shot two other women and herself at a technical college Friday in the city of Baton Rouge, Louisiana, police said. Police Sergeant Don Kelly told reporters police "found three gunshot wound victims, all apparently deceased inside the clas
Published 09 Feb, 2008 12:00am
Al Qaeda plans attacks on Germany

Al Qaeda plans attacks on Germany

Al Qaeda plans to carry out attacks in Germany, a senior German intelligence official was quoted as saying on Friday. Bernhard Falk, vice president of Germany's Federal Crime Office (BKA), told German daily Die Welt that al Qaeda forces based on the Pakis
Published 09 Feb, 2008 12:00am
Palestinian Prime Minister sees no 2008 Israel accord

Palestinian Prime Minister sees no 2008 Israel accord

Palestinian Prime Minister Salam Fayyad said on Thursday a lasting peace accord with Israel was unlikely in 2008 despite renewed diplomatic efforts to resolve the long-running conflict.
Published 09 Feb, 2008 12:00am
French parliament ratifies EU treaty

French parliament ratifies EU treaty

The French parliament ratified a European Union reform treaty to overhaul the bloc's institutions on Friday, nearly three years after France rejected a planned EU constitution in a referendum.
Published 09 Feb, 2008 12:00am
Israel begins cutting electricity supply to Gaza

Israel begins cutting electricity supply to Gaza

Israel began cutting electrical power to the Gaza Strip as part of a plan to sever economic ties with the territory, an Israeli defence official said on Friday. It is the latest in a series of Israeli steps to increase pressure on Gaza, ruled by the Hamas
Published 09 Feb, 2008 12:00am
Suicide car bomber kills three in Afghanistan

Suicide car bomber kills three in Afghanistan

A suicide car bomber targeting an army convoy killed three people on Friday in Afghanistan, witnesses said. The Afghan army convoy was passing along a road in Ghazni town which lies south-west of capital Kabul, they said. Two civilians and one soldier wer
Published 09 Feb, 2008 12:00am
Kenya foes agree political settlement needed: Annan

Kenya foes agree political settlement needed: Annan

Kenya's feuding political factions agree that a negotiated political settlement is needed to solve the crisis that erupted after a disputed December election, chief mediator Kofi Annan said Friday.
Published 09 Feb, 2008 12:00am
Kenya lifts ban on rallies

Kenya lifts ban on rallies

The Kenyan government on Friday lifted a ban on public rallies, saying security had improved after disputed December elections sparked widespread violence, the internal security ministry announced.
Published 09 Feb, 2008 12:00am
Republican McCain asks conservatives for support

Republican McCain asks conservatives for support

Republican John McCain asked disgruntled conservatives to support his presidential bid on Thursday, shortly after Mitt Romney ended his struggling campaign and made McCain the all-but-certain nominee.
Published 09 Feb, 2008 12:00am
Putin lashes out at West's 'arms race'

Putin lashes out at West's 'arms race'

President Vladimir Putin accused the United States of unleashing a new arms race on Russia's borders on Friday in a speech that is likely to provide a blueprint for his successor's policies. Laying out his legacy three months before he is to step down, Pu
Published 09 Feb, 2008 12:00am
US military loses records for Osama's driver

US military loses records for Osama's driver

The US military has lost a year's worth of records describing the Guantanamo confinement of Osama bin Laden's driver, a prosecutor said at the Yemeni captive's war court hearing on Thursday.
Published 09 Feb, 2008 12:00am
Nepal police parade alleged kidney snatcher

Nepal police parade alleged kidney snatcher

An Indian doctor accused of masterminding a massive illegal kidney transplant racket was paraded by Nepali police on Friday after an international manhunt ended with his arrest in the Himalayan country.
Published 09 Feb, 2008 12:00am
Australia state police force rocked by scandal

Australia state police force rocked by scandal

Australia's second largest police force was in turmoil on Friday after accusations of corruption at top levels and a plot to oust its reformist commissioner and replace her with a "puppet". Three senior officers in the Victoria state police face criminal
Published 09 Feb, 2008 12:00am
Internet back to normal by Monday: Egypt

Internet back to normal by Monday: Egypt

Internet service in Egypt should be restored to normal by Monday after repairs to undersea cables are completed, an official at Egypt's state-controlled telecoms firm said on Friday.
Published 09 Feb, 2008 12:00am
Friday's early trade: Dow, S&P hit lows on fresh credit jitters

Friday's early trade: Dow, S&P hit lows on fresh credit jitters

The Dow and S&P 500 sank to session lows on Friday, erasing an early attempt at a rally as investors dumped financial shares amid another bout of worry about a possible fire sale of risky credit derivatives. The Dow Jones industrial average was down 82.42
Published 09 Feb, 2008 12:00am
iTraxx hits record wide spread level

iTraxx hits record wide spread level

The investment-grade iTraxx Europe index hit a record wide spread level on Friday, giving up earlier tentative gains, on speculation that a European fund was liquidating a structured credit product. The Markit iTraxx Europe index hit a life intraday high
Published 09 Feb, 2008 12:00am
European stocks up

European stocks up

European stocks closed higher on Friday, helped by rallying tech and mining shares, but ended the week down nearly 4 percent on US recession worries and as fresh fears over the fate of bond insurers hammered banking shares. The FTSEurofirst 300 index of t
Published 09 Feb, 2008 12:00am
Asian markets closed

Asian markets closed

Stock markets in Hong Kong, Shanghai, Taipei, Seoul, Singapore, Kuala Lumpur and Jakarta are closed on Friday for the Lunar New Year holiday.
Published 09 Feb, 2008 12:00am
Australian shares rise

Australian shares rise

Australian share prices closed up 1.1 percent on Friday as bargain hunters moved in and ended the market's three-day losing streak, dealers said. The benchmark S&P/ASX 200 was 61.3 points higher at 5,658, while the broader All Ordinaries ended up 55.6 poi
Published 09 Feb, 2008 12:00am
Britain's top share index rises

Britain's top share index rises

Britain's leading shares ended 1.1 percent higher on Friday as miners and oil companies gave the FTSE 100 a boost, but broker downgrades hit several stocks, most notably Yell Group. The FTSE 100 ended up 59.9 points at 5,784.0 in choppy trade after earlie
Published 09 Feb, 2008 12:00am
Sterling edges up versus dollar

Sterling edges up versus dollar

Sterling recovered slightly against the dollar on Friday after reaching a two-week low in the previous session and as investors awaited the start of a meeting of the Group of Seven industrialised countries in Tokyo.
Published 09 Feb, 2008 12:00am
Indian rupee climbs

Indian rupee climbs

The Indian rupee inched higher on Friday, bolstered by gains in local stocks, though concerns about central bank intervention weighed, dealers said. At 10:20 am (0450 GMT), the partially convertible rupee was at 39.492/502 per dollar, moving up from the p
Published 09 Feb, 2008 12:00am
Euro under pressure in London

Euro under pressure in London

The euro was on track for its biggest weekly fall versus the dollar in 1-1/2 years on Friday, after European Central Bank President Jean-Claude Trichet left the door open for an interest rate cut later this year.
Published 09 Feb, 2008 12:00am
Power, politics keep rand on the slide

Power, politics keep rand on the slide

South Africa's rand is back to being one of the world's worst performing currencies in 2008 after a brief respite last year, and there appears nothing, for now, to halt its slide.
Published 09 Feb, 2008 12:00am
US corn stocks ample

US corn stocks ample

Supplies of corn in the United States are at comfortable levels despite strong exports and aided by a levelling-off in demand from the ethanol sector, traders and analysts said after a government report on Friday.
Published 09 Feb, 2008 12:00am
London cocoa and coffee up; sugar down

London cocoa and coffee up; sugar down

London robusta futures opened weaker on light profit-taking on Friday after touching a ten-and-a-half year peak on Thursday, while cocoa could probe fresh four-and-three-quarter year highs. London white sugar futures could fall further due to a lack of ph
Published 09 Feb, 2008 12:00am
Oil posts biggest gain in two months

Oil posts biggest gain in two months

Oil vaulted 4 percent on Friday - its biggest gain in nearly two months - amid supply snags in Nigeria and the North Sea and a looming cold spell in the huge US Northeast heating oil market.
Published 09 Feb, 2008 12:00am
CBOT lifts wheat limits

CBOT lifts wheat limits

The Chicago Board of Trade said on Thursday it will raise the daily trading limit for its soft red winter wheat futures contract to 40 cents a bushel from 30 cents, effective February 12, in line with competing wheat futures markets.
Published 09 Feb, 2008 12:00am
New York cotton settles higher

New York cotton settles higher

Cotton futures settled on Friday at a threw-week top as rallies in the commodities complex spilled over into the market and the momentum could spur fibre contracts up into next week, traders said. ICE Futures' open-outcry March cotton contract rose 0.68 c
Published 09 Feb, 2008 12:00am
Italian biodiesel output down

Italian biodiesel output down

Italy's production of biodiesel was down in 2007 to about 500,000 tonnes, from 600,000 tonnes in 2006, but output should increase this year, a senior industry official said on Friday.
Published 09 Feb, 2008 12:00am
Copper stays higher

Copper stays higher

Copper hit a three-month high on Friday, underpinned by signs supplies were getting tighter as London Metal Exchange inventories dwindled. The move up in copper fuelled the complex higher with lead jumping 5 percent to a two-month high on technical buying
Published 09 Feb, 2008 12:00am
Platinum remains at record peak in London

Platinum remains at record peak in London

Platinum scaled a record peak for the seventh straight trading day on Friday, as persistent supply concerns in top producer South Africa ignited worries about a huge market deficit this year.
Published 09 Feb, 2008 12:00am
US MIDDAY: cocoa up, coffee down

US MIDDAY: cocoa up, coffee down

US cocoa futures inched higher in early trade on Friday, on continued March/May spreading, while arabica coffee futures crept lower in rangebound trade, dealers said. "You will see a lot of spread trading," one cocoa trader said.
Published 09 Feb, 2008 12:00am
US MIDDAY: corn rises

US MIDDAY: corn rises

March corn was up 9-1/2 cents at $5.09 per bushel early on Friday. Limit-up move in wheat and rally in soyabeans pushed corn higher. USDA's February stocks forecast was bearish for corn as USDA kept its 2007/08 ending stocks unchanged at 1.438 billion bus
Published 09 Feb, 2008 12:00am
US MIDDAY: wheat soars

US MIDDAY: wheat soars

March wheat was up 30 cents at $10.93 a bushel early on Friday. Front six months locked higher at the 30-cent trading limit after USDA trimmed its US 2007/08 wheat ending stocks estimate. This is fifth consecutive days of limit up moves in CBOT, MGE and K
Published 09 Feb, 2008 12:00am
US MIDDAY: soyabeans rally

US MIDDAY: soyabeans rally

US soyabean futures on the Chicago Board of Trade rallied early on Friday after USDA cut its 2007/08 US soyabean ending stocks forecast in its monthly report, traders said. "They dropped the bean ending stocks, a little below the trade range," said one CB
Published 09 Feb, 2008 12:00am
US MIDDAY: copper climbs

US MIDDAY: copper climbs

US copper futures charged to a new three-month high above $3.56 a lb in early business on Friday as market bulls continued to feast on a rally fuelled by expectations of near-term supply tightness, brokers said.
Published 09 Feb, 2008 12:00am
Good Haj operation

Good Haj operation

At a time when PIA is in the news for all the bad reasons, the recently concluded Haj operation with an unprecedented successful punctuality record of over 89% is indeed good news. PIA management deserves compliment for such a well planned operation, carr
Published 09 Feb, 2008 12:00am
A question of credibility

A question of credibility

We have reached a stage, where even the credibility of our leader is in doubt and our President, once a darling of the west, is having a hard time to convince world leaders that we are not a banana republic, a failing state or a dangerous country.
Published 09 Feb, 2008 12:00am
History looms behind Kenyan crisis

History looms behind Kenyan crisis

Although they are from different tribes, Peter and Sospeter have much in common: they do the same job, are roughly the same age and practically share the same first name. Now Kenya's ethnic clashes have landed the two men -- one a Kikuyu of the tribe of P
Published 09 Feb, 2008 12:00am
Tourists oblivious of UAE drugs laws end up in jail

Tourists oblivious of UAE drugs laws end up in jail

Western tourists oblivious to the severe drugs laws in the United Arab Emirates often end up in jail after arriving here with tiny amounts of narcotics for their own use. But the UAE authorities do not deviate from their strict rules, which stipulate impr
Published 09 Feb, 2008 12:00am
Automotive vending industry facing regression

Automotive vending industry facing regression

Today, the vending industry for automotive sector is facing numerous challenges, causing serious concerns about its further development, if not that of its basic survival. The automotive sector has shown phenomenal growth during recent years, having produ
Published 09 Feb, 2008 12:00am
Pending payments and scams

Pending payments and scams

Collecting sales tax refunds is becoming increasingly frustrating for our exporters. As a Recorder Report reveals, refund claims worth a staggering sum of about Rs 40 billion (tax officials refuse to give the actual figures for fear of triggering a
Published 09 Feb, 2008 12:00am
In search of fall guys

In search of fall guys

Has President Musharraf become a political liability that the Pakistan Muslim League(Q) should fly moving out of his shadow? This question was unthinkable a few weeks back, but in the evolving elections-driven milieu it tends to acquire critical relevance
Published 09 Feb, 2008 12:00am
NWFP likely to regularise contract employees

NWFP likely to regularise contract employees

The government of NWFP is likely to regularise all contract base recruited employees in the province after the recommendation of the sub-committee of NWFP provincial government.
Published 09 Feb, 2008 12:00am
Two free service camps organised for Hino truck operators

Two free service camps organised for Hino truck operators

Hinopak Motors Limited and Mobil Askari Lubricants Limited jointly organised two Free Service Camps for Hino truck operators recently. The first camp was held at the new Sabzi Mandi and the second camp was held at the Pakistan Truck Stand both located at
Published 09 Feb, 2008 12:00am
PFA team to attend World Foundry Congress

PFA team to attend World Foundry Congress

A 30-member delegation headed by Pakistan Foundry Association President Sikandar Mustafa Khan is attending between February 7 and 10 the 68th World Foundry Congress and the 56th Indian Foundry Congress and Exhibition IFEX-08.
Published 09 Feb, 2008 12:00am
OPF to set up industrial estate for overseas Pakistanis

OPF to set up industrial estate for overseas Pakistanis

The Overseas Pakistanis Foundation (OPF) would set up an industrial estate for Overseas Pakistanis at Motorway Chakri Interchange Rawalpindi to provide investment opportunities to overseas investors. In this regard, the Foundation had also inked Memorandu
Published 09 Feb, 2008 12:00am
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