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Sep 20, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2008-02-16
New York sugar ends at 18-month top

New York sugar ends at 18-month top

Raw sugar futures finished on Thursday at an 18-month high on all-around buying inspired by another spike in commodity markets and brokers said the momentum could spur sugar higher in the days ahead, brokers said. "Funds are buying everywhere today, and s
Published 16 Feb, 2008 12:00am
Four additional judges appointed

Four additional judges appointed

President has appointed Muhammad Munir Paracha; Sajid Qureshi; Syed Qalb-i-Hassan and Raja Saeed Akram Khan as Additional Judge of Islamabad High Court (IHC) for a period of one year, with effect from the date they take oath of their offices, a notificati
Published 16 Feb, 2008 12:00am
US corn higher, wheat and soya rallies lift

US corn higher, wheat and soya rallies lift

US corn futures on the Chicago Board of Trade climbed on Thursday on spillover buying from soybeans and wheat, traders said. March corn ended 14 cents per bushel higher at $5.11. The deferreds ended 4 to 13-3/4 cents up. "The strength in beans created a t
Published 16 Feb, 2008 12:00am
Cabinet takes up issuance of LoC for transit of gas today

Cabinet takes up issuance of LoC for transit of gas today

Islamabad is yet to approve a proposal of the Iranian government regarding issuance of letter of comfort (LoC) for transit of its gas to any third country including India, sources in the Petroleum Ministry told Business Recorder.
Published 16 Feb, 2008 12:00am
Tokyo rubber softer

Tokyo rubber softer

Tokyo rubber futures edged lower on Friday as technical selling blocked the topside after they failed to break through psychological resistance, but concerns over supply and firmer oil prices provided some support. As of 0115 GMT, the benchmark Tokyo Comm
Published 16 Feb, 2008 12:00am
Cabinet takes up issuance of LoC for transit of gas today

Cabinet takes up issuance of LoC for transit of gas today

Islamabad is yet to approve a proposal of the Iranian government regarding issuance of letter of comfort (LoC) for transit of its gas to any third country including India, sources in the Petroleum Ministry told Business Recorder.
Published 16 Feb, 2008 12:00am
Indonesian palm oil sets record

Indonesian palm oil sets record

Indonesian crude palm oil hit a record high on Friday, powered by extended gains in Malaysian crude palm oil futures and strong domestic demand. The state marketing centre in Jakarta, which sells palm oil from state plantations, sold 3,000 tonnes of crude
Published 16 Feb, 2008 12:00am
Cabinet takes up issuance of LoC for transit of gas today

Cabinet takes up issuance of LoC for transit of gas today

Islamabad is yet to approve a proposal of the Iranian government regarding issuance of letter of comfort (LoC) for transit of its gas to any third country including India, sources in the Petroleum Ministry told Business Recorder.
Published 16 Feb, 2008 12:00am
Malaysian palm oil sets record

Malaysian palm oil sets record

Malaysian crude palm oil futures rose 2.7 percent to hit a new high on Friday as China scrambled to lock in supplies, with global appetite for vegetable oils underlined by a surge in Malaysia's palm exports.
Published 16 Feb, 2008 12:00am
Pakistan lacks energy efficiency development road map: ADB

Pakistan lacks energy efficiency development road map: ADB

Pakistan lacks a comprehensive energy efficiency development road map and investment programme and international experience indicates that the effective implementation and incorporation of energy efficiency into the policy mainstream requires concerted, l
Published 16 Feb, 2008 12:00am
Indonesian growth in 2007 fastest in 11 years

Indonesian growth in 2007 fastest in 11 years

Indonesia's full-year growth for 2007 clocked in at 6.32 percent, the fastest rate since the country was hit by the Asian financial crisis 11 years ago, official data showed Friday.
Published 16 Feb, 2008 12:00am
BJP protests fuel price hike

BJP protests fuel price hike

India's Bharatiya Janta Party (BJP) on Friday protest against recent fuels price rises. The Indian government has increased the price of petrol and diesel fuels because of a surge in global oil prices, the country's oil minister said.
Published 16 Feb, 2008 12:00am
Bulls remain in front seat at ISE

Bulls remain in front seat at ISE

Bulls remained in the front seat at the Islamabad Stock Exchange (ISE) on Friday where equities showed healthy signs under the lead of hot favourites amid increase in index. ISE-10 Index showed improvement of 42.67 points from 2,988.18 to 3,030.85 points.
Published 16 Feb, 2008 12:00am
Bulls remain in front seat at ISE

Bulls remain in front seat at ISE

Bulls remained in the front seat at the Islamabad Stock Exchange (ISE) on Friday where equities showed healthy signs under the lead of hot favourites amid increase in index. ISE-10 Index showed improvement of 42.67 points from 2,988.18 to 3,030.85 points.
Published 16 Feb, 2008 12:00am
IMF urges China to speed up appreciation of currency

IMF urges China to speed up appreciation of currency

China should speed up appreciation of its currency, the yuan, to address its own economic challenges and help global stability, the head of the International Monetary Fund said Friday.
Published 16 Feb, 2008 12:00am
Supreme Court rejects review petition against emergency, PCO

Supreme Court rejects review petition against emergency, PCO

The Supreme Court on Friday rejected the review petition against the judgement of the Supreme Court validating the proclamation of emergency and Provisional Constitutional Order (PCO) after observing that the petitioner was failed to show error in the jud
Published 16 Feb, 2008 12:00am
US should speed up energy efficiency plans: IEA

US should speed up energy efficiency plans: IEA

The US government needs to move more quickly on plans to boost automobile fuel efficiency standards, improve efficiency of power plants and take hard action on heat-trapping greenhouse gases, the International Energy Agency said on Friday.
Published 16 Feb, 2008 12:00am
Supreme Court rejects review petition against emergency, PCO

Supreme Court rejects review petition against emergency, PCO

The Supreme Court on Friday rejected the review petition against the judgement of the Supreme Court validating the proclamation of emergency and Provisional Constitutional Order (PCO) after observing that the petitioner was failed to show error in the jud
Published 16 Feb, 2008 12:00am
Iran's foreign exchange reserves $76 billion in November: report

Iran's foreign exchange reserves $76 billion in November: report

Iran's foreign exchange reserves rose 29 percent in the year to November, reaching $76 billion, an Iranian news agency reported on Friday. Fars News Agency cited a central bank report, which was not immediately available on the bank's Web site (www.cbi.ir
Published 16 Feb, 2008 12:00am
Total plans to register interest in Iraq

Total plans to register interest in Iraq

French oil major Total plans to register its interest in helping to rebuild Iraq's shattered oil industry, although it has said it is too dangerous for now to operate there. Foreign oil companies have until Monday to register to bid for contracts. Negotia
Published 16 Feb, 2008 12:00am
Analysts warn UBS write-downs could double

Analysts warn UBS write-downs could double

Swiss bank UBS could face billions of dollars more in subprime-related write-downs in 2008, which could tip it into a second year of losses, analysts warned investors, sending its shares tumbling again. Some said UBS might be only halfway through clearing
Published 16 Feb, 2008 12:00am
Markets to remain closed on February 18

Markets to remain closed on February 18

All Pakistan Anjuman-e-Tajiran president Haji Maqsood Butt has said that all markets in the country will remain closed on February 18. Butt on Friday told representatives of traders that the public should cast its vote according to conscious and for hones
Published 16 Feb, 2008 12:00am
MCB Bank profit up by Rs 15.265 billion

MCB Bank profit up by Rs 15.265 billion

The profit after tax of MCB Bank Limited has increased by 26 percent to Rs 15.265 billion in the calendar year 2007 as compared to Rs 12.142 billion earned in 2006. The bank''''s earning per share surged to Rs 24.30 in the period under review against Rs 1
Published 16 Feb, 2008 12:00am
Four Punjab University lecturers promoted

Four Punjab University lecturers promoted

The Punjab University has decided to give the financial benefits of BPS-19 to four more lecturers with 10-year or more service. It has issued a notification saying those lecturers getting BPS-19 benefits included Muhammad Afzal of the Economics Department
Published 16 Feb, 2008 12:00am
MCB Bank profit up by Rs 15.265 billion

MCB Bank profit up by Rs 15.265 billion

The profit after tax of MCB Bank Limited has increased by 26 percent to Rs 15.265 billion in the calendar year 2007 as compared to Rs 12.142 billion earned in 2006. The bank''s earning per share surged to Rs 24.30 in the period under review against Rs 19.
Published 16 Feb, 2008 12:00am
Government asked to fix minimum sugar support price

Government asked to fix minimum sugar support price

A Pakistan Sugar Mills Association (PSMA) spokesman has called on the government to fix the minimum sugar support prices and made it clear that there has never been a shortage of sugar since the government has otherwise assumed.
Published 16 Feb, 2008 12:00am
MCB Bank profit up by Rs 15.265 billion

MCB Bank profit up by Rs 15.265 billion

The profit after tax of MCB Bank Limited has increased by 26 percent to Rs 15.265 billion in the calendar year 2007 as compared to Rs 12.142 billion earned in 2006. The bank's earning per share surged to Rs 24.30 in the period under review against Rs 19.3
Published 16 Feb, 2008 12:00am
LCCI hails powers suspension of FBR Intelligence chief

LCCI hails powers suspension of FBR Intelligence chief

Lahore Chamber of Commerce and Industry (LCCI) President Mohammad Ali Mian, Senior Vice President Mian Muzaffar Ali, Vice President Shafqat Saeed Piracha and former president Sheikh Mohammad Asif on Friday hailed Federal Minister Commerce, Trade and Indus
Published 16 Feb, 2008 12:00am
MCB Bank profit up by Rs 15.265 billion

MCB Bank profit up by Rs 15.265 billion

The profit after tax of MCB Bank Limited has increased by 26 percent to Rs 15.265 billion in the calendar year 2007 as compared to Rs 12.142 billion earned in 2006. The bank's earning per share surged to Rs 24.30 in the period under review against Rs 19.3
Published 16 Feb, 2008 12:00am
Railways accounts officers moot

Railways accounts officers moot

Railways Board Member Shaukat Muhammad has praised the performance of his accounts department. He was the chief guest at the concluding session of a two-day conference of accounts officers on Friday where senior officers and divisional accounts officers,
Published 16 Feb, 2008 12:00am
Punjab University reviews semester system rules

Punjab University reviews semester system rules

The Punjab University has reviewed its semester system rules for under-graduate studies to set them in line with the Higher Education Commission (HEC) standards. Professor Dr Muhammad Arif Butt chaired the meeting. Semester Implementation Committee (SIC)
Published 16 Feb, 2008 12:00am
Quality education promotes understanding: vice chancellor GCU

Quality education promotes understanding: vice chancellor GCU

Education and economic development of a nation go side by side, as the academic amelioration leads to economic prosperity, democratic and cultural up-gradation and social uplift, Government College University (GCU) Lahore, Vice-chancellor Professor Dr Kha
Published 16 Feb, 2008 12:00am
Qayyum denies 'rigging' comment

Qayyum denies 'rigging' comment

Attorney-general on Friday rejected a statement by a US-based rights group that said it had obtained a recording of him predicting next week's elections will be "massively rigged."
Published 16 Feb, 2008 12:00am
Gazprom profit falls

Gazprom profit falls

Russian gas giant Gazprom said Friday that it made net profit of 454.5 billion rubles (12.6 billion euros/18.5 billion dollars) in the first nine months of 2007, down 5.7 billion rubles over the same period for the previous year.
Published 16 Feb, 2008 12:00am
Qayyum denies 'rigging' comment

Qayyum denies 'rigging' comment

Attorney-general on Friday rejected a statement by a US-based rights group that said it had obtained a recording of him predicting next week's elections will be "massively rigged."
Published 16 Feb, 2008 12:00am
Gazprom profit falls

Gazprom profit falls

Russian gas giant Gazprom said Friday that it made net profit of 454.5 billion rubles (12.6 billion euros/18.5 billion dollars) in the first nine months of 2007, down 5.7 billion rubles over the same period for the previous year.
Published 16 Feb, 2008 12:00am
Eurozone posts $41.5 billion trade surplus

Eurozone posts $41.5 billion trade surplus

The eurozone countries chalked up a trade surplus of 28.3 billion euros (41.5 billion dollars) in 2007 despite record strength of the euro last year, first official EU estimate showed on Friday.
Published 16 Feb, 2008 12:00am
Citigroup bars investor exits from hedge fund

Citigroup bars investor exits from hedge fund

Citigroup Inc has suspended investor withdrawals from a $500 million credit hedge fund to give it a chance to "stabilize," a bank spokesman said on Friday. The London-based fund, called CSO Partners, was facing investor redemptions after a 10 percent loss
Published 16 Feb, 2008 12:00am
Citigroup bars investor exits from hedge fund

Citigroup bars investor exits from hedge fund

Citigroup Inc has suspended investor withdrawals from a $500 million credit hedge fund to give it a chance to "stabilize," a bank spokesman said on Friday. The London-based fund, called CSO Partners, was facing investor redemptions after a 10 percent loss
Published 16 Feb, 2008 12:00am
Australia and US reach 'open skies' travel accord

Australia and US reach 'open skies' travel accord

Australia and the US struck an "open skies" deal for their national carriers Friday heralding more competition on the trans-Pacific route but it was criticised for leaving out other airlines.
Published 16 Feb, 2008 12:00am
WTO negotiating texts lack balance: EU

WTO negotiating texts lack balance: EU

New negotiating texts aimed at pushing forward global trade talks lack balance and should have offered more progress in services, an official at the European Union's executive branch said on Friday.
Published 16 Feb, 2008 12:00am
Continental to cut about 2,000 jobs

Continental to cut about 2,000 jobs

German automotive supplier Continental AG is considering cutting about 2,000 jobs at recently-acquired automotive electronics business VDO, two sources close to the matter told Reuters on Friday.
Published 16 Feb, 2008 12:00am
Continental to cut about 2,000 jobs

Continental to cut about 2,000 jobs

German automotive supplier Continental AG is considering cutting about 2,000 jobs at recently-acquired automotive electronics business VDO, two sources close to the matter told Reuters on Friday.
Published 16 Feb, 2008 12:00am
Michelin profit rises

Michelin profit rises

French tyre-maker Michelin reported on Friday a 35.3 percent surge in 2007 net profit as workers at a company factory in eastern France scheduled to be shut down next year were holding two managers at the site.
Published 16 Feb, 2008 12:00am
Michelin profit rises

Michelin profit rises

French tyre-maker Michelin reported on Friday a 35.3 percent surge in 2007 net profit as workers at a company factory in eastern France scheduled to be shut down next year were holding two managers at the site.
Published 16 Feb, 2008 12:00am
Mandelson backs new Russia WTO bid push

Mandelson backs new Russia WTO bid push

Russia could join the World Trade Organisation this year if it gives a quick response to the handful of outstanding issues blocking a deal, European trade chief Peter Mandelson said on Friday.
Published 16 Feb, 2008 12:00am
China's trade surplus rises

China's trade surplus rises

China's trade surplus climbed 22.6 percent in January from the same month a year ago, state media said Friday, but economists said a stronger currency could soon put a dent in the rising trend.
Published 16 Feb, 2008 12:00am
Opec lowers growth projections for 2008

Opec lowers growth projections for 2008

The Opec oil cartel on Friday lowered its projections for growth of oil demand this year in response to a slowdown in world economic momentum. The Organisation of Petroleum Exporting Countries in its February report said demand would likely grow by 1.43 p
Published 16 Feb, 2008 12:00am
US consumer sentiment falls, factory output soft

US consumer sentiment falls, factory output soft

A series of bleak economic reports on Friday showed the mood of American consumers deteriorating in February to a point that has always signalled recession, while factory activity in New York state suffered its biggest drop on record.
Published 16 Feb, 2008 12:00am
Bank of Japan holds rates steady

Bank of Japan holds rates steady

The Bank of Japan left its super-low interest rates unchanged Friday amid fears of slowing growth or even recession in Asia's largest economy due to the widening fallout from the US subprime loan crisis.
Published 16 Feb, 2008 12:00am
Sikorsky unveils Tata helicopter project in India

Sikorsky unveils Tata helicopter project in India

US helicopter maker Sikorsky and the Tata Group of India are teaming up in a joint helicopter manufacturing project in India, Sikorsky said Friday. Sikorsky Aircraft Corp said it had signed a preliminary agreement with Tata Advanced Systems, a defence and
Published 16 Feb, 2008 12:00am
Investment curbs could hurt US: Treasury

Investment curbs could hurt US: Treasury

A senior US Treasury Department official warned on Friday that imposing curbs on foreign investors could backfire and end up hurting America's ability to compete.
Published 16 Feb, 2008 12:00am
Vietnam may raise auto import duties to cut jams

Vietnam may raise auto import duties to cut jams

Vietnam may raise automobile import duties to cut worsening traffic congestion fuelled by surging sales of both imported and locally-assembled cars, state media reported Friday.
Published 16 Feb, 2008 12:00am
Rockwell Collins sees lower jet orders

Rockwell Collins sees lower jet orders

US aerospace supplier Rockwell Collins Inc expects total 2008 commercial jet orders to come in between 1,000 and 1,500, the company's top executive said on Friday.
Published 16 Feb, 2008 12:00am
Rockwell Collins sees lower jet orders

Rockwell Collins sees lower jet orders

US aerospace supplier Rockwell Collins Inc expects total 2008 commercial jet orders to come in between 1,000 and 1,500, the company's top executive said on Friday.
Published 16 Feb, 2008 12:00am
Swiss ICB to buy Bangladesh bank stake for $51 million

Swiss ICB to buy Bangladesh bank stake for $51 million

Swiss international financial institution ICB Financial Group Holdings AG has been selected to buy 50.1 percent of Bangladesh's troubled Oriental Bank Ltd after it made the highest bid of 3.50 billion taka ($51 million), a central bank official said.
Published 16 Feb, 2008 12:00am
German public sector pay strikes to include Berlin

German public sector pay strikes to include Berlin

Warning strikes over pay in Germany's public sector will extend to the capital Berlin next week, service sector union Verdi said on Friday. Verdi, which is demanding an 8 percent pay rise for some 2 million state employees, said municipal hospitals and ca
Published 16 Feb, 2008 12:00am
Migros deal marks new era for private equity

Migros deal marks new era for private equity

This week's take-over of Turkish retailer Migros and its modest $3.25 billion price tag is the biggest private equity deal in 2008 so far, showing just how times have changed for buyout firms. The deal, priced below investor expectations, is small fry com
Published 16 Feb, 2008 12:00am
Migros deal marks new era for private equity

Migros deal marks new era for private equity

This week's take-over of Turkish retailer Migros and its modest $3.25 billion price tag is the biggest private equity deal in 2008 so far, showing just how times have changed for buyout firms. The deal, priced below investor expectations, is small fry com
Published 16 Feb, 2008 12:00am
Struggling Japanese banks turn to JGBs for profits

Struggling Japanese banks turn to JGBs for profits

Big Japanese banks have made a splash in the domestic government bond market, becoming one of the major sources of interest rate volatility since late last year by taking sizable bets on the market's direction.
Published 16 Feb, 2008 12:00am
Struggling Japanese banks turn to JGBs for profits

Struggling Japanese banks turn to JGBs for profits

Big Japanese banks have made a splash in the domestic government bond market, becoming one of the major sources of interest rate volatility since late last year by taking sizable bets on the market's direction.
Published 16 Feb, 2008 12:00am
New European car sales slip

New European car sales slip

New car sales in Europe slipped 0.3 percent in January on weakness in all the major markets but Germany, the ACEA European automakers' association said on Friday. Registrations of new passenger cars in Europe - comprising the EU members except Cyprus and
Published 16 Feb, 2008 12:00am
New European car sales slip

New European car sales slip

New car sales in Europe slipped 0.3 percent in January on weakness in all the major markets but Germany, the ACEA European automakers' association said on Friday. Registrations of new passenger cars in Europe - comprising the EU members except Cyprus and
Published 16 Feb, 2008 12:00am
Go-Ahead warns on second-half profit, shares slump

Go-Ahead warns on second-half profit, shares slump

British bus and train operator Go-Ahead Group warned on Friday that the impact of rising fuel costs and reduced subsidies would hurt its full year profits, sending shares in the transport sector lower. The outlook came as the company reported it had met f
Published 16 Feb, 2008 12:00am
Go-Ahead warns on second-half profit, shares slump

Go-Ahead warns on second-half profit, shares slump

British bus and train operator Go-Ahead Group warned on Friday that the impact of rising fuel costs and reduced subsidies would hurt its full year profits, sending shares in the transport sector lower. The outlook came as the company reported it had met f
Published 16 Feb, 2008 12:00am
Race heats up for $2.5 billion Indian artillery deal

Race heats up for $2.5 billion Indian artillery deal

British defence group BAE Systems has joined the race to win part of a 2.5-billion-dollar artillery shopping spree by the Indian military, defence officials in New Delhi said Friday. India last month invited proposals from global arms manufacturers for th
Published 16 Feb, 2008 12:00am
Energy execs debate whether oil crisis looms

Energy execs debate whether oil crisis looms

Are the lackluster production and reserve replacement rates reported by the largest oil companies precursors to a looming oil crisis? The largest oil companies have had increased difficulty meeting a range of challenges to increase their production, inclu
Published 16 Feb, 2008 12:00am
Downgrade for Sri Lanka's credit outlook

Downgrade for Sri Lanka's credit outlook

Standard and Poor's on Friday downgraded Sri Lanka's credit outlook to "negative" and warned that the troubled tropical island was depending too much on foreign borrowing. The ratings agency lowered Sri Lanka from "positive" and said its credit rating was
Published 16 Feb, 2008 12:00am
Downgrade for Sri Lanka's credit outlook

Downgrade for Sri Lanka's credit outlook

Standard and Poor's on Friday downgraded Sri Lanka's credit outlook to "negative" and warned that the troubled tropical island was depending too much on foreign borrowing. The ratings agency lowered Sri Lanka from "positive" and said its credit rating was
Published 16 Feb, 2008 12:00am
US attorney general discusses Kurd rebels and al Qaeda in Turkey

US attorney general discusses Kurd rebels and al Qaeda in Turkey

US Attorney General Michael Mukasey held talks with Turkish officials here Friday on joint measures to combat Kurdish rebels and the al Qaeda extremist network. Turkish-US cooperation against the separatist Kurdistan Workers' Party (PKK), whose militants
Published 16 Feb, 2008 12:00am
UK Red Cross braces for disasters at home

UK Red Cross braces for disasters at home

Faced with increased flooding at home due to climate change, terror attacks and the threat of bird flu, Britain's Red Cross is moving beyond raising funds for overseas aid work to tackling domestic disasters.
Published 16 Feb, 2008 12:00am
South Korea firm to clone US woman's dead pet pitbull

South Korea firm to clone US woman's dead pet pitbull

A South Korean firm has received an order for what it said Friday was the world's first commercial cloning of a pet dog - a request from a US woman to re-create her beloved late pitbull. RNL Bio is charging 150,000 dollars to clone the pitbull terrier for
Published 16 Feb, 2008 12:00am
Medvedev pledges freedom, legal reform

Medvedev pledges freedom, legal reform

Russia's likely next president Dmitry Medvedev said on Friday that freedom, private property and an independent judiciary would be the central planks of his administration.
Published 16 Feb, 2008 12:00am
Thai share prices fall

Thai share prices fall

Thai share prices closed 0.66 percent lower on Friday, hit by US Federal Reserve chairman Ben Bernanke's comments forecasting "a period of sluggish growth" in the US economy, dealers said. They said sentiment was downbeat due to sustained fears over a US
Published 16 Feb, 2008 12:00am
Hong Kong shares continue to move upward

Hong Kong shares continue to move upward

Hong Kong stocks erased earlier losses on Friday to post a four-day winning streak, as oversold sectors like shipping prompted bargain hunting. Commodity stocks also advanced, stoked by higher metal prices and imminent rebuilding efforts in China followin
Published 16 Feb, 2008 12:00am
US shares fall sharply

US shares fall sharply

US stocks dropped on Thursday as the credit crunch surfaced unexpectedly in the municipal bond market and after the Federal Reserve chairman said that he sees sluggish economic growth ahead. Worries about a deteriorating credit market were exacerbated whe
Published 16 Feb, 2008 12:00am
US bonds sag on inflation risk

US bonds sag on inflation risk

US government debt prices ended mostly lower on Thursday, led by long-dated issues, as traders turned their focus to inflation risks from more interest rate cuts signalled by the Federal Reserve. It was a rough day for the Treasuries market as traders con
Published 16 Feb, 2008 12:00am
US bonds sag on inflation risk

US bonds sag on inflation risk

US government debt prices ended mostly lower on Thursday, led by long-dated issues, as traders turned their focus to inflation risks from more interest rate cuts signalled by the Federal Reserve. It was a rough day for the Treasuries market as traders con
Published 16 Feb, 2008 12:00am
Indian shares 1.96 percent up

Indian shares 1.96 percent up

Indian share prices rose 1.96 percent on Friday led by modest gains across Asia and institutional buying in metal, property and oil stocks, dealers said. They said sentiment improved after Indian premier Manmohan Singh said he was confident the country wo
Published 16 Feb, 2008 12:00am
Malaysian shares decline

Malaysian shares decline

Malaysian share prices fell 0.6 percent on Friday in thin volume as investors took to the sidelines amid concerns over the health of the US economy, dealers said. The Kuala Lumpur Composite Index ended down 8.91 points at 1,427.19, off a low of 1,416.85.
Published 16 Feb, 2008 12:00am
Singapore shares surge

Singapore shares surge

Singapore share prices reversed earlier losses to close 1.41 percent higher on Friday in line with regional bourses, but dealers said concerns remained over the impact of a slowing US economy. Investors chased bargains among select stocks, encouraged by s
Published 16 Feb, 2008 12:00am
Tokyo stocks end flat

Tokyo stocks end flat

Japan's Nikkei average ended flat on Friday, paring earlier losses as investors picked up shares of trading companies such as Mitsubishi Corp and earth-moving equipment maker Komatsu Ltd. Consumer electronics maker Pioneer Corp shot up, helping to offset
Published 16 Feb, 2008 12:00am
Philippines shares tumble

Philippines shares tumble

Philippines share prices closed 0.9 percent lower on Friday amid political tension at home and following US Federal Reserve Chairman Ben Bernanke's gloomy assessment of the US economy, dealers said.
Published 16 Feb, 2008 12:00am
Jakarta shares slightly firmer

Jakarta shares slightly firmer

Indonesian share prices closed 0.5 percent higher on Friday after the government announced strong 2007 economic growth data, dealers said. The Jakarta Composite index closed up 12.55 points at 2,688.19. Volume was 3.48 billion shares valued at 41.34 trill
Published 16 Feb, 2008 12:00am
Central bank guides yuan to post-reval high

Central bank guides yuan to post-reval high

The yuan hit its highest level against the dollar since its 2005 revaluation on Friday after the Chinese central bank set its daily mid-point, or reference rate, at a post-revaluation high.
Published 16 Feb, 2008 12:00am
Canadian dollar closes lower

Canadian dollar closes lower

The Canadian dollar finished a touch lower versus the US dollar on Thursday as data showed Canada's trade surplus shrank more than expected in December, but the currency remained locked in a tight range. Canadian bond prices edged higher on the short end
Published 16 Feb, 2008 12:00am
Dollar steadies after slide

Dollar steadies after slide

The dollar steadied on Friday after falling the previous day, when a pledge by Federal Reserve Chairman Ben Bernanke to act as needed to support economic growth and tackle downside risks fuelled expectations for another big cut in interest rates next mont
Published 16 Feb, 2008 12:00am
Dollar dips

Dollar dips

The dollar slid against the euro and yen on Thursday after Federal Reserve Chairman Ben Bernanke said the US economic outlook had worsened and that the central bank would act as needed to support growth.
Published 16 Feb, 2008 12:00am
Swiss franc rises

Swiss franc rises

The Swiss franc rose against the euro and the dollar on Friday as investors turned more cautious after the head of the Federal Reserve said risks to US economic growth had increased. "Bad news from UBS and worries about the US economy will push equity mar
Published 16 Feb, 2008 12:00am
Rupiah leads Asian currencies rally

Rupiah leads Asian currencies rally

Asian currencies rose against a broadly weak dollar on Friday, led by the high-yielding Indonesian rupiah, as investors bought riskier assets amid expectations of further US interest rate cuts.
Published 16 Feb, 2008 12:00am
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