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Nov 13, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2008-02-14
Soya futures dive as wheat falls 60-cent limit

Soya futures dive as wheat falls 60-cent limit

US soyabean futures on the Chicago Board of Trade turned lower on Tuesday, following the sell-off in wheat, traders said. Also weighing on the soya market was call option selling. "We followed wheat up and now we're following it back down.
Published 14 Feb, 2008 12:00am
Grains rally to dent US 2008 cotton sowings

Grains rally to dent US 2008 cotton sowings

A sizzling rally that rocketed wheat and soybean futures to multi-year highs will further depress US cotton plantings in 2008 as the surge took place just when farmers were deciding what to plant this spring.
Published 14 Feb, 2008 12:00am
US concerned over election violence

US concerned over election violence

US Secretary of State Condoleezza Rice said on Wednesday she was concerned about election violence in Pakistan and hoped a new government would include "moderate voices." Rice told US lawmakers she believed Pakistan's leaders understood there needed to be
Published 14 Feb, 2008 12:00am
Cameroon 2007-08 cotton output seen falling

Cameroon 2007-08 cotton output seen falling

Cameroon's 2007/2008 seed cotton production is forecast to fall by 25 percent to 141,000 tonnes from 187,400 tonnes last year as delayed rains, high input costs and low prices reduce output, the national cotton company said.
Published 14 Feb, 2008 12:00am
US concerned over election violence

US concerned over election violence

US Secretary of State Condoleezza Rice said on Wednesday she was concerned about election violence in Pakistan and hoped a new government would include "moderate voices." Rice told US lawmakers she believed Pakistan's leaders understood there needed to be
Published 14 Feb, 2008 12:00am
Tokyo rubber holds steady

Tokyo rubber holds steady

Tokyo rubber futures were little changed on Wednesday after rallying to a five-week high the previous day. A halt in gains in precious metals and other commodity markets sapped investor appetite for rubber futures although a fall in the yen against the do
Published 14 Feb, 2008 12:00am
Malaysian palm oil falters

Malaysian palm oil falters

Malaysian crude palm oil futures fell on Wednesday as rising production figures by an official crop agency sparked worries of a supply build-up and rival soyaoil weakened in Asian trade, dealers said.
Published 14 Feb, 2008 12:00am
Telenor reports 2007 profit gain

Telenor reports 2007 profit gain

Norwegian telecom group Telenor reported a 13-percent gain in net earnings for 2007 on Wednesday but fell short of market expectations for 2008. Shares in the company, the says it is seventh-biggest mobile phone operator in the world, had fallen 5.72 perc
Published 14 Feb, 2008 12:00am
Telenor reports 2007 profit gain

Telenor reports 2007 profit gain

Norwegian telecom group Telenor reported a 13-percent gain in net earnings for 2007 on Wednesday but fell short of market expectations for 2008. Shares in the company, the says it is seventh-biggest mobile phone operator in the world, had fallen 5.72 perc
Published 14 Feb, 2008 12:00am
Bangladesh expatriate remittances at record in 2007

Bangladesh expatriate remittances at record in 2007

Bangladesh received a record $6.56 billion in remittances in 2007 from a record number of nearly 5 million expatriate workers, a senior government official said on Wednesday. About 833,000 workers were cleared for foreign employment last year, also a reco
Published 14 Feb, 2008 12:00am
German politicians question mooted IKB bail-out

German politicians question mooted IKB bail-out

Mooted government help to rescue troubled German business lender IKB has drawn cool comment from political figures ahead of an emergency meeting on the issue on Wednesday, press reports said.
Published 14 Feb, 2008 12:00am
EU warns Latvia over economic hard landing

EU warns Latvia over economic hard landing

The European Commission warned Latvia on Wednesday that its fast-growing economy might face a hard landing and urged the country to tighten fiscal policies and keep wages under control.
Published 14 Feb, 2008 12:00am
Investors more confident since Fed cut rates

Investors more confident since Fed cut rates

There is growing evidence that investors are dipping their toes back into riskier assets, believing that last month's interest rate cuts by the US Federal Reserve have at least halted what had been a freefall on equity markets.
Published 14 Feb, 2008 12:00am
Bradford & Bingley writes down $183 million, shares tumble

Bradford & Bingley writes down $183 million, shares tumble

UK mortgage lender Bradford & Bingley took a 94 million pound ($183 million) write-down on its exposure to risky assets and saw other big one-off losses derail profits and send its shares to a record low.
Published 14 Feb, 2008 12:00am
Bradford & Bingley writes down $183 million, shares tumble

Bradford & Bingley writes down $183 million, shares tumble

UK mortgage lender Bradford & Bingley took a 94 million pound ($183 million) write-down on its exposure to risky assets and saw other big one-off losses derail profits and send its shares to a record low.
Published 14 Feb, 2008 12:00am
India's IT sector warned to keep innovating to maintain edge

India's IT sector warned to keep innovating to maintain edge

India's outsourcing industry must keep innovating to keep its world-beating edge and meet the challenge of a stronger rupee and a slowing global economy, business leaders said on Wednesday. The warning came as the nation's top outsourcing body Nasscom beg
Published 14 Feb, 2008 12:00am
Fuel subsidies holding back Indonesia: World Bank

Fuel subsidies holding back Indonesia: World Bank

Indonesia's multi-billion-dollar domestic fuel subsidies are a burden standing in the way of the country's development, a World Bank official said Wednesday. "Energy subsidies ... (are) almost 20 billion dollars a year now. That's 20 billion dollars of lo
Published 14 Feb, 2008 12:00am
Coca-Cola profit rises

Coca-Cola profit rises

Coca-Cola Co, the world's largest maker of soft drinks, reported higher-than-expected quarterly profit on Wednesday, helped by higher sales, acquisitions and foreign exchange rates. Coca-Cola said fourth-quarter net income was $1.21 billion, or 52 cents p
Published 14 Feb, 2008 12:00am
Coca-Cola profit rises

Coca-Cola profit rises

Coca-Cola Co, the world's largest maker of soft drinks, reported higher-than-expected quarterly profit on Wednesday, helped by higher sales, acquisitions and foreign exchange rates. Coca-Cola said fourth-quarter net income was $1.21 billion, or 52 cents p
Published 14 Feb, 2008 12:00am
Thousands demonstrate against pension reform in Greek

Thousands demonstrate against pension reform in Greek

Thousands of protesters marched in Athens on Wednesday during a 24-hour general strike called by Greece's two largest unions against a government-sponsored pension reform, the second in two months.
Published 14 Feb, 2008 12:00am
Mortgage applications fall

Mortgage applications fall

US demand for applications to purchase and refinance homes declined last week from the highest level in nearly four years as mortgage rates rose, an industry group said on Wednesday.
Published 14 Feb, 2008 12:00am
US retail sales rise

US retail sales rise

An unexpected rise in January retail sales, reported by the government on Wednesday, fired up hopes the US economy might skirt recession despite the pressure on consumers from a weakening housing market.
Published 14 Feb, 2008 12:00am
No recession ahead, tax rebates coming: Paulson

No recession ahead, tax rebates coming: Paulson

US Treasury Secretary Henry Paulson on Wednesday stood by his view that the US economy will avoid recession this year and said the Treasury will act quickly to distribute tax rebate payments.
Published 14 Feb, 2008 12:00am
Japan wholesale inflation hits 27-year high

Japan wholesale inflation hits 27-year high

Japanese annual wholesale inflation hit a 27-year high of 3 percent in January due to rising oil and other raw material costs, but the Bank of Japan is seen likely to sit tight on rates in the face of slowing global growth.
Published 14 Feb, 2008 12:00am
IEA cuts oil demand growth forecast

IEA cuts oil demand growth forecast

World oil demand will grow less quickly than expected this year because of slower economic growth in the United States, the International Energy Agency said on Wednesday. The IEA, adviser to 27 industrialised countries, forecast in its monthly Oil Market
Published 14 Feb, 2008 12:00am
BoE signals only moderate drop in interest rates

BoE signals only moderate drop in interest rates

British interest rates won't fall as sharply this year as financial markets have been predicting, the Bank of England signalled on Wednesday, although at least one more cut in borrowing costs is probably still on the cards.
Published 14 Feb, 2008 12:00am
Japan delays high-speed Internet satellite

Japan delays high-speed Internet satellite

Japan's space agency said Wednesday it was delaying the launch of a satellite aimed at providing high-speed Internet access across Asia due to a technical problem with its rocket. Japan was slated Friday to launch the Kazuna, an experimental satellite loo
Published 14 Feb, 2008 12:00am
No region to escape market crisis unscathed

No region to escape market crisis unscathed

The macroeconomic effects of the global crisis in financial markets will be serious and no regions will escape entirely unscathed, the chief of the International Monetary Fund (IMF) said on Wednesday.
Published 14 Feb, 2008 12:00am
UK jobless rate slips to 5.2 percent

UK jobless rate slips to 5.2 percent

Britain's unemployment rate declined to 5.2 percent in the three months to December, official data showed on Wednesday. That was the lowest reading since January 2006 and compared with 5.3 percent in the three months to November.
Published 14 Feb, 2008 12:00am
ArcelorMittal posts strong 2007

ArcelorMittal posts strong 2007

Arcelor Mittal, the world's largest steelmaker, reported 2007 results in line with expectations on Wednesday and took an upbeat view of the steel industry in 2008, expecting favourable market trends to persist.
Published 14 Feb, 2008 12:00am
ArcelorMittal posts strong 2007

ArcelorMittal posts strong 2007

Arcelor Mittal, the world's largest steelmaker, reported 2007 results in line with expectations on Wednesday and took an upbeat view of the steel industry in 2008, expecting favourable market trends to persist.
Published 14 Feb, 2008 12:00am
Indian shares provisionally end up 2.5 percent

Indian shares provisionally end up 2.5 percent

Indian shares snapped a five-day slide and provisionally closed 2.5 percent higher on Wednesday, with index heavyweight Reliance Industries and ICICI Bank leading the gains. The 30-share BSE index provisionally rose 415.70 points to 17,023.72, with 24 of
Published 14 Feb, 2008 12:00am
Taiwan stocks end steady

Taiwan stocks end steady

Taiwan stocks ended down 0.04 percent on Wednesday, but Fubon Financial led banking shares higher on investor hopes the banking sector will soon get the green light soon to invest in the red-hot China market. The main TAIEX share index inched 2.75 points
Published 14 Feb, 2008 12:00am
Hong Kong shares rise on HSBC

Hong Kong shares rise on HSBC

Hong Kong stocks rose on Wednesday as investors took cues from Wall Street gains, helped by Warren Buffet's offer to reinsure $800 billion in municipal debt risk from the top three bond insurers. Buffet's offer calmed worries about further fallout from th
Published 14 Feb, 2008 12:00am
Dow, S&P up

Dow, S&P up

The Dow Jones industrials and S&P 500 rose on Tuesday after Warren Buffett offered to reinsure $800 billion in municipal debt risk from the top three bond insurers, soothing worries about further fallout from the credit crisis. Buffett's move allayed fear
Published 14 Feb, 2008 12:00am
Indonesian shares gain

Indonesian shares gain

Indonesian share prices closed up 0.7 percent on Wednesday on Wall Street's overnight gains as investors cheered billionaire Warren Buffett's offer to help troubled US bond insurers, dealers said. The Jakarta Composite index closed up 18.71 points at 2,61
Published 14 Feb, 2008 12:00am
US Treasury debt easy

US Treasury debt easy

US Treasury debt prices eased on Tuesday after billionaire investor Warren Buffett offered to take over some liabilities of bond insurers, easing some concerns that have inspired flight-to-safety bond buying. Price losses were tempered in the afternoon ho
Published 14 Feb, 2008 12:00am
US Treasury debt easy

US Treasury debt easy

US Treasury debt prices eased on Tuesday after billionaire investor Warren Buffett offered to take over some liabilities of bond insurers, easing some concerns that have inspired flight-to-safety bond buying. Price losses were tempered in the afternoon ho
Published 14 Feb, 2008 12:00am
Malaysian shares climb

Malaysian shares climb

Malaysian share prices closed up 0.4 percent Wednesday after Prime Minister Abdullah Ahmad Badawi announced the dissolution of parliament to pave the way for general elections, dealers said. They said caution ahead of the release of US retail sales data a
Published 14 Feb, 2008 12:00am
Philippines shares rise

Philippines shares rise

Philippines share prices closed 0.7 percent higher Wednesday on better news from Wall Street but turnover was thin amid concerns over the US economy and domestic political issues, dealers said. They said investors were reluctant to move given US concerns
Published 14 Feb, 2008 12:00am
Thai shares higher

Thai shares higher

Thai share prices closed 1.46 percent higher on Wednesday, led by foreign investors returning to the market as Thailand's government considers an economic stimulus plan, dealers said. They said sentiment has improved amid expectations that the new elected
Published 14 Feb, 2008 12:00am
Nikkei edges up 0.4 percent

Nikkei edges up 0.4 percent

Japan's Nikkei average edged up 0.4 percent on Wednesday but gave up most of its gains as investors trimmed positions before upcoming Japanese and US economic data. Shares of big banks such as Mitsubishi UFJ Financial Group retreated, offsetting a rise in
Published 14 Feb, 2008 12:00am
Singapore shares higher

Singapore shares higher

Singapore shares closed 0.80 percent higher on Wednesday with sentiment buoyed by Wall Street's gains on news of billionaire Warren Buffett's rescue plan for troubled US bond insurers, dealers said. The blue chip Straits Times index closed 23.31 points hi
Published 14 Feb, 2008 12:00am
Yuan ends well off low after record dive

Yuan ends well off low after record dive

China's yuan plunged versus the dollar on Wednesday, threatening to post its biggest daily drop since it was revalued in July 2005, but it closed well off its low as traders said they saw no change in Chinese forex policy.
Published 14 Feb, 2008 12:00am
Dollar slips

Dollar slips

The dollar slipped on Wednesday ahead of US retail sales figures that were expected to show more economic weakness, while repatriation flows linked to US Treasuries also put downward pressure on the US currency.
Published 14 Feb, 2008 12:00am
Yen tumbles broadly on Buffett bond rescue plan

Yen tumbles broadly on Buffett bond rescue plan

The yen fell broadly on Tuesday after billionaire Warren Buffett offered to assume troubled bond insurers' liabilities, increasing investor appetite for risky assets such as stocks and high-yielding currencies.
Published 14 Feb, 2008 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Wednesday. 68.58/68.58 (previous 68.58/68.58). Call Money Rates: 6.00-13.00 percent (previous 8.00-14.00 percent.
Published 14 Feb, 2008 12:00am
Asian currencies: Taiwan dollar hits 21-month high

Asian currencies: Taiwan dollar hits 21-month high

The Taiwan dollar hit a 21-month high on Wednesday as investors bought local assets in anticipation of policy changes ahead of presidential polls, but the Chinese yuan slid as domestic shares lost ground.
Published 14 Feb, 2008 12:00am
Swiss franc ticks up versus euro

Swiss franc ticks up versus euro

The Swiss franc on Wednesday ticked higher against the euro as European stock markets were set to open lower on worries about the global economic outlook. But the Swiss currency remained well off recent highs against the single currency, as investors' wor
Published 14 Feb, 2008 12:00am
IPL agrees $50 million title deal

IPL agrees $50 million title deal

The Indian cricket board's official Twenty20 League (IPL) has secured five-year title sponsorship rights worth over $50 million ahead of its launch in April, organisers said on Wednesday.
Published 14 Feb, 2008 12:00am
Shoaib Akhtar challenges notices

Shoaib Akhtar challenges notices

Pakistan fast bowler Shoaib Akhtar has said he will not respond to a notice sent to him by the Pakistan cricket board over his recent statements criticising its policies.
Published 14 Feb, 2008 12:00am
FFA rejects notion of English club matches in Australia

FFA rejects notion of English club matches in Australia

Football Federation Australia Wednesday joined the Asian Football Confederation in rejecting a controversial proposal to play English Premier League matches abroad, with Australia mooted as a possible destination.
Published 14 Feb, 2008 12:00am
Murray, Ferrero ease through in Marseille

Murray, Ferrero ease through in Marseille

Briton Andy Murray and Juan-Carlos Ferrero of Spain got off to winning starts at the ATP Marseille Open on Tuesday advancing to the second round in straight sets.
Published 14 Feb, 2008 12:00am
New strike hits South African World Cup venue

New strike hits South African World Cup venue

Workers at one of the stadia due to host the 2010 football World Cup in South Africa have downed tools in the latest pay strike to threaten tight construction deadlines, their union said Wednesday.
Published 14 Feb, 2008 12:00am
Rebel league signs more Pakistani players

Rebel league signs more Pakistani players

The rebel Indian Cricket League (ICL) has signed 10 more Pakistan players for its next tournament. Official sources confirmed the ICL had reached an agreement with 10 Pakistani players, taking the number to 16 since last year. Former test player Humayun F
Published 14 Feb, 2008 12:00am
Australia advised not to tour Pakistan: Nasim Ashraf

Australia advised not to tour Pakistan: Nasim Ashraf

Australian cricket officials have told their Pakistani counterparts that they have received security advice against touring Pakistan because of political unrest and violence, an official said Wednesday.
Published 14 Feb, 2008 12:00am
US defence chief fractures shoulder in fall

US defence chief fractures shoulder in fall

US Defence Secretary Robert Gates slipped on ice Tuesday evening and fractured his right shoulder, a Pentagon spokesman said Wednesday. Because of the injury, Gates, cancelled a scheduled appearance before a Senate committee to testify on the Pentagon's p
Published 14 Feb, 2008 12:00am
French rail passengers ousted by Saudi royals

French rail passengers ousted by Saudi royals

Several dozen French rail passengers were ousted from two first-class carriages early this month to make way for the wife of Saudi King Abdullah and her 80-member delegation, the rail operator SNCF said.
Published 14 Feb, 2008 12:00am
German army union against extending Afghan mission

German army union against extending Afghan mission

Boosting the number of German troops in Afghanistan and shifting them to the violent south makes no strategic sense and would stretch military equipment to the limit, the main association for German soldiers said.
Published 14 Feb, 2008 12:00am
Rice to attend Iraq security conference

Rice to attend Iraq security conference

US Secretary of State Condoleezza Rice said Wednesday she will attend an international conference in Kuwait in April to promote Iraq's security that involves Iran and other neighbours. "I have just accepted the invitation of the Kuwaiti government to hold
Published 14 Feb, 2008 12:00am
Rival leaders held in Mumbai for stoking violence

Rival leaders held in Mumbai for stoking violence

Two rival political leaders in India's financial hub were arrested on Wednesday for stoking violence as part of a battle over "outsiders" thronging the city for jobs, police said.
Published 14 Feb, 2008 12:00am
Australia says 'sorry' to Aborigines

Australia says 'sorry' to Aborigines

Australian Prime Minister Kevin Rudd made an historic apology to Aborigines Wednesday for injustices committed over two centuries of white settlement, saying he wanted "to remove a great stain from the nation's soul."
Published 14 Feb, 2008 12:00am
Iraqi MPs finally approve flagship bills

Iraqi MPs finally approve flagship bills

Iraqi MPs unanimously approved three flagship bills, including a delayed state budget for 2008, on Wednesday ending weeks of brinkmanship that had sparked talk of a possible dissolution of parliament. "We adopted three bills unanimously, including the bud
Published 14 Feb, 2008 12:00am
Georgia opposition leader dies

Georgia opposition leader dies

Wealthy Georgian businessman Badri Patarkatsishvili, accused of a coup plot against the country's president, has died suddenly in Britain, British police said on Wednesday. Officers are treating the death as suspicious and have referred the case to a majo
Published 14 Feb, 2008 12:00am
EU to fingerprint foreigners

EU to fingerprint foreigners

The European Commission unveiled on Wednesday a plan to fingerprint all foreigners visiting 24 European countries. The electronic register, similar to a policy adopted by the United States after the September 11, 2001, attacks, could go into effect by 201
Published 14 Feb, 2008 12:00am
Iran blames Israel

Iran blames Israel

Iran accused Israel on Wednesday of assassinating a top commander of the Lebanese Shia militia Hezbollah, which is backed by the Islamic republic, the state IRNA news agency said.
Published 14 Feb, 2008 12:00am
World a 'better place' without Mughnieh: US

World a 'better place' without Mughnieh: US

The US State Department said Wednesday the "world is a better place" without a top commander of the Lebanese Shia militia Hezbollah, who was assassinated in a car bombing in Damascus.
Published 14 Feb, 2008 12:00am
Top Hezbollah commander killed in Syria blast

Top Hezbollah commander killed in Syria blast

Imad Mughnieh, a top Hezbollah commander linked to notorious attacks against Western and Israeli targets in the 1980s and 1990s, was killed in a car bombing in Syria, the Shia militant group announced on Wednesday.
Published 14 Feb, 2008 12:00am
Saudi women complain of discrimination, abuse: UN

Saudi women complain of discrimination, abuse: UN

A UN expert on women's rights said on Wednesday she had heard accounts of serious discrimination against women and abuses by religious police during a visit to ultra-conservative Saudi Arabia.
Published 14 Feb, 2008 12:00am
EU, Russia fail to narrow Kosovo differences

EU, Russia fail to narrow Kosovo differences

The European Union and Russia failed on Wednesday to narrow differences over Kosovo's independence drive but Moscow said it did not plan sanctions against the Serbian province or its backers after any secession.
Published 14 Feb, 2008 12:00am
Israel seeks international backing for Gaza campaign

Israel seeks international backing for Gaza campaign

Israel took nearly 70 foreign ambassadors to its border with the Gaza Strip on Wednesday as part of a diplomatic campaign to enlist international support for tougher action against the enclave's Hamas rulers. s at the Erez crossing with Gaza that cross-bo
Published 14 Feb, 2008 12:00am
German aid worker freed in Somalia

German aid worker freed in Somalia

A German aid worker kidnapped in north-western Somalia was freed after local security forces fought off the gunmen who seized him, his employer and a Somali official said on Wednesday. Deutsche Welthungerhilfe, also known as the German Agro Action, said i
Published 14 Feb, 2008 12:00am
Obama rolls forward after three big wins

Obama rolls forward after three big wins

Riding a string of overwhelming victories, Democrat Barack Obama turned his focus on the ailing US economy on Wednesday while his rival Hillary Clinton looked ahead to contests next month where she hopes to regain her edge.
Published 14 Feb, 2008 12:00am
US attorney general makes first Iraq trip

US attorney general makes first Iraq trip

Iraqis are "firmly committed" to the rule of law as distinct from the rule of might, US Attorney General Michael Mukasey said in Baghdad on Wednesday after holding talks with top Iraqi judges. "I'm impressed and encouraged what I have seen here," Mukasey
Published 14 Feb, 2008 12:00am
Malaysian Prime Minister calls for fresh polls

Malaysian Prime Minister calls for fresh polls

Malaysia's premier called on Wednesday for fresh elections that he is certain to win, kicking off a campaign likely to be overshadowed by racial issues and religious tension in the south-east Asian nation.
Published 14 Feb, 2008 12:00am
Wednesday's mid-afternoon trade: retail sales data sparks rally

Wednesday's mid-afternoon trade: retail sales data sparks rally

US stocks rallied on Wednesday after an unexpected rise in US retail sales during January suggested consumer spending would hold up and help the economy avert a recession. The technology sector rose on stronger-than-expected earnings from Applied Material
Published 14 Feb, 2008 12:00am
Credit spreads recover

Credit spreads recover

European credit markets recovered from an initial bout of severe spread widening on Wednesday, although liquidity remained poor and traders said there was relatively little activity. Better-than-expected US retail sales data gave US stocks a boost in afte
Published 14 Feb, 2008 12:00am
Credit spreads recover

Credit spreads recover

European credit markets recovered from an initial bout of severe spread widening on Wednesday, although liquidity remained poor and traders said there was relatively little activity. Better-than-expected US retail sales data gave US stocks a boost in afte
Published 14 Feb, 2008 12:00am
Asian bond rebounds

Asian bond rebounds

Asian sovereign and corporate bonds rebounded slightly on Wednesday after a recent sell-off on stronger stock markets, but spreads stayed close to record levels due to worries over the unwinding of structured credit products.
Published 14 Feb, 2008 12:00am
Asian bond rebounds

Asian bond rebounds

Asian sovereign and corporate bonds rebounded slightly on Wednesday after a recent sell-off on stronger stock markets, but spreads stayed close to record levels due to worries over the unwinding of structured credit products.
Published 14 Feb, 2008 12:00am
Chinese stocks tumble

Chinese stocks tumble

China's stock market fell sharply and turnover shrank on Wednesday as trade resumed after week-long Lunar New Year holidays, during which overseas markets were hit hard by the threat of a US recession.
Published 14 Feb, 2008 12:00am
UK's top share index down

UK's top share index down

Britain's FTSE 100 index fell 0.5 percent on Wednesday, led by banks, commodity shares and Vodafone as investors wary of the lingering credit turmoil cashed in on the previous day's rally. The FTSE 100 closed down 29.9 points at 5,880.1 in volatile trade,
Published 14 Feb, 2008 12:00am
Sterling hits two-week high

Sterling hits two-week high

Sterling rose to two-week highs against the euro on Wednesday and steadied versus an otherwise buoyant dollar after the Bank of England signalled that interest rates will be eased more modestly than markets were discounting.
Published 14 Feb, 2008 12:00am
Euro stays stable

Euro stays stable

The dollar was steady against the euro on Wednesday as investors looked ahead to US retail sales data later in the session for clues on the depth of the economic slowdown and the likely need for further interest rate cuts.
Published 14 Feb, 2008 12:00am
Indian rupee falls

Indian rupee falls

The Indian rupee fell to its lowest level in 2-1/2 months on Wednesday as a dollar shortage in the market and concerns about foreign funds selling stocks prompted banks to sell the local unit. The partially convertible rupee ended at 39.76/77 per dollar a
Published 14 Feb, 2008 12:00am
US appeals latest ruling in WTO cotton case

US appeals latest ruling in WTO cotton case

The United States has appealed the latest ruling in Brazil's long-running World Trade Organisation challenge of US cotton subsidies, a case that has exposed vulnerabilities in US farm supports.
Published 14 Feb, 2008 12:00am
London cocoa and sugar rally

London cocoa and sugar rally

Soft commodities put in a strong performance on Wednesday, with London cocoa futures hitting a five-year high on fund and speculative buying, while sugar rallied ahead of the spot month expiry on Thursday. Speculative buying also drive robusta coffee futu
Published 14 Feb, 2008 12:00am
Oil rises above $93 after Venezuela cuts off Exxon

Oil rises above $93 after Venezuela cuts off Exxon

Oil prices extended a week-long rally on Wednesday after Venezuela said it would stop selling crude to Exxon Mobil Corp in the midst of an intensifying legal dispute over a nationalised oil project.
Published 14 Feb, 2008 12:00am
New York cotton futures sag to soft close

New York cotton futures sag to soft close

Cotton futures settled easier on Wednesday on speculative sales as the market consolidated near its recent lows while waiting for direction from a government sales report and the grains market, brokers said.
Published 14 Feb, 2008 12:00am
Cash sugar demand slack

Cash sugar demand slack

Physical sugar demand was subdued this week as futures prices remained too high for many buyers despite recent falls and European traders focused on the likely start-up soon of a new refinery in Egypt.
Published 14 Feb, 2008 12:00am
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