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Print - 2008-03-07
Tocom rubber down

Tocom rubber down

Tokyo rubber futures slipped a little on Thursday, reversing early gains as oil prices were off their record high and the yen strengthened. The benchmark rubber contract on the Tokyo Commodity Exchange for August delivery fell 0.5 yen to 305.1 yen ($2.94)
Published 07 Mar, 2008 12:00am
Army should not be dragged into any controversy: Kayani

Army should not be dragged into any controversy: Kayani

107th Corps Commanders' Conference was held at General Headquarters on Thursday. Chief of Army Staff General Ashfaq Parvez Kayani chaired the meeting. The conference commenced with Fateha prayers for Lieutenant General Mushtaq Ahmed Baig and other officer
Published 07 Mar, 2008 12:00am
Indonesia crude palm oil ease

Indonesia crude palm oil ease

Indonesian crude palm oil prices eased on Thursday, tracking softer prices in Malaysia, while tight supply offered support for cooking oil prices. The state marketing centre did not hold auctions for the local market but producers in North Sumatra's Medan
Published 07 Mar, 2008 12:00am
Army should not be dragged into any controversy: Kayani

Army should not be dragged into any controversy: Kayani

107th Corps Commanders' Conference was held at General Headquarters on Thursday. Chief of Army Staff General Ashfaq Parvez Kayani chaired the meeting. The conference commenced with Fateha prayers for Lieutenant General Mushtaq Ahmed Baig and other officer
Published 07 Mar, 2008 12:00am
Malaysian palm oil falls

Malaysian palm oil falls

Malaysian crude palm oil futures fell more than 3 percent on Thursday, as slow demand in the physical market and strengthening ringgit prompted selling. Palm oil, which has lost more than 10 percent since it hit a historic high of 4,486 ringgit a tonne on
Published 07 Mar, 2008 12:00am
WAPDA causes major outage in Karachi

WAPDA causes major outage in Karachi

Karachi suffered a major power outage on Thursday when the country''s main power utility cut the supply because the city''s power company had not paid its bills, an official said. Karachi is Pakistan''s biggest city with a population of more than 13 milli
Published 07 Mar, 2008 12:00am
UBS shares sink anew on writedown fears

UBS shares sink anew on writedown fears

Swiss bank UBS AG came under renewed pressure on Thursday due to speculation it had sold a huge portfolio of risky mortgages at a deep discount and that the scale of its subprime losses was rapidly mounting.
Published 07 Mar, 2008 12:00am
WAPDA causes major outage in Karachi

WAPDA causes major outage in Karachi

Karachi suffered a major power outage on Thursday when the country's main power utility cut the supply because the city's power company had not paid its bills, an official said. Karachi is Pakistan's biggest city with a population of more than 13 million
Published 07 Mar, 2008 12:00am
UBS shares sink anew on writedown fears

UBS shares sink anew on writedown fears

Swiss bank UBS AG came under renewed pressure on Thursday due to speculation it had sold a huge portfolio of risky mortgages at a deep discount and that the scale of its subprime losses was rapidly mounting.
Published 07 Mar, 2008 12:00am
WAPDA causes major outage in Karachi

WAPDA causes major outage in Karachi

Karachi suffered a major power outage on Thursday when the country's main power utility cut the supply because the city's power company had not paid its bills, an official said. Karachi is Pakistan's biggest city with a population of more than 13 million
Published 07 Mar, 2008 12:00am
Alwaleed slips in world rich list

Alwaleed slips in world rich list

Saudi Prince Alwaleed bin Talal, a shareholder in Citigroup Inc, fell six places in the Forbes magazine list of billionaires this year to 19th, though he remained the richest Arab with a $21 billion fortune.
Published 07 Mar, 2008 12:00am
Alwaleed slips in world rich list

Alwaleed slips in world rich list

Saudi Prince Alwaleed bin Talal, a shareholder in Citigroup Inc, fell six places in the Forbes magazine list of billionaires this year to 19th, though he remained the richest Arab with a $21 billion fortune.
Published 07 Mar, 2008 12:00am
Jobless claims tumble

Jobless claims tumble

New applications for US jobless benefits tumbled by 24,000 last week to a much lower-than-expected 351,000, but the number remaining on jobless aid stood at the highest level in nearly two and a half years, a Labour Department report on Thursday showed.
Published 07 Mar, 2008 12:00am
US home foreclosures hit record high

US home foreclosures hit record high

US home foreclosures and the rate of homes entering the foreclosure process rose to record highs in the fourth quarter, led by failing subprime loans, the Mortgage Bankers Association said on Thursday.
Published 07 Mar, 2008 12:00am
Top European retailers lift profits

Top European retailers lift profits

Major European retailers posted higher profits for 2007 on Thursday and predicted continued robust growth, but warned the global credit crisis and slowing economies could crimp consumer spending. Upbeat forecasts from Carrefour, Dutch Ahold and Belgium's
Published 07 Mar, 2008 12:00am
US Treasury denies GSE backstop rumour

US Treasury denies GSE backstop rumour

A US Treasury Department spokeswoman said on Thursday that rumours about a possible new government guarantee for mortgage lenders Fannie Mae and Freddie Mac were totally unfounded. The rumours had earlier swept through financial markets, driving down pric
Published 07 Mar, 2008 12:00am
BoE keeps rates steady

BoE keeps rates steady

The Bank of England held interest rates at 5.25 percent on Thursday, but is widely expected to cut them again by the middle of the year to shore up an economy buffeted by the global credit crunch. All but one of 65 economists polled last week forecast the
Published 07 Mar, 2008 12:00am
Geneva auto show hopes small models equal big profits

Geneva auto show hopes small models equal big profits

Small is beautiful for carmakers at the Geneva Auto Show with an eye on congested cities, one-parent families, rising oil prices and growing concern at the environmental impact of motor vehicles.
Published 07 Mar, 2008 12:00am
UN sees more hunger, unrest over food inflation

UN sees more hunger, unrest over food inflation

Record high food prices and resulting inflation are set to continue until at least 2010, fuelling a "new hunger" across the globe and anarchy on the streets of poorer nations, a top UN official said.
Published 07 Mar, 2008 12:00am
ECB holds rates

ECB holds rates

The European Central Bank said it left interest rates unchanged at 4 percent on Thursday to help the fight against inflation, though it unveiled higher consumer price forecasts for this year and next.
Published 07 Mar, 2008 12:00am
Wal-Mart sales up

Wal-Mart sales up

Wal-Mart Stores Inc on Thursday reported a better-than-expected 2.6 percent rise in February sales at US stores open at least a year, due to strong sales of groceries, medicines and electronics.
Published 07 Mar, 2008 12:00am
German manufacturing orders edge down

German manufacturing orders edge down

German manufacturing orders unexpectedly fell in January, easing after a big rise in the fourth quarter of last year that economists said still left businesses with plenty of work in hand. Incoming orders fell in January by 1.5 percent on the month in sea
Published 07 Mar, 2008 12:00am
French jobless rate hits lowest in over a decade

French jobless rate hits lowest in over a decade

France's jobless rate fell to its lowest in more than a decade at the end of 2007, official data showed on Thursday, surprising analysts who expected slower growth to brake unemployment's fall.
Published 07 Mar, 2008 12:00am
Car makers rev up new models to battle slowdown

Car makers rev up new models to battle slowdown

Greener vehicles drive into the spotlight as Europe's biggest auto show opens in Geneva this week and automakers hit back against a slowdown threatened by a weak euro and high raw material costs. Toyota, Renault and Fiat all have new models to show, hopin
Published 07 Mar, 2008 12:00am
SK Telecom to open online marketplace in China

SK Telecom to open online marketplace in China

South Korea's SK Telecom Co plans to open an online marketplace in China this year and is contacting Taobao and other Chinese e-commerce firms for possible partnerships, an executive said on Wednesday.
Published 07 Mar, 2008 12:00am
Indonesia to sue Newmont Nusa over ownership dispute

Indonesia to sue Newmont Nusa over ownership dispute

The Indonesian government will sue PT Newmont Nusa Tenggara (NNT) in an international court of arbitration for failing to follow local divestment laws, Energy Minister Purnomo Yusgiantoro said Monday. "As a big sovereign country, Indonesia is taking the a
Published 07 Mar, 2008 12:00am
Mitsubishi Electric to exit mobile phone operations

Mitsubishi Electric to exit mobile phone operations

Mitsubishi Electric Corp said it planned to exit its loss-making mobile hone business, becoming the latest Japanese electronics maker to withdraw from a market dominated by overseas giants such as Nokia.
Published 07 Mar, 2008 12:00am
Akzo Nobel profit up, to buy back three billion euros in shares

Akzo Nobel profit up, to buy back three billion euros in shares

Dutch chemical group Akzo Nobel NV said on Thursday its fourth quarter core profit rose 43 percent on cost savings. Earnings before interest and taxes (EBIT) from continuing operations, excluding extraordinary items, was 174 million euros ($264.2 million)
Published 07 Mar, 2008 12:00am
Akzo Nobel profit up, to buy back three billion euros in shares

Akzo Nobel profit up, to buy back three billion euros in shares

Dutch chemical group Akzo Nobel NV said on Thursday its fourth quarter core profit rose 43 percent on cost savings. Earnings before interest and taxes (EBIT) from continuing operations, excluding extraordinary items, was 174 million euros ($264.2 million)
Published 07 Mar, 2008 12:00am
Aegon reports fourth quarter, 2007 profit decline

Aegon reports fourth quarter, 2007 profit decline

Dutch insurer Aegon NV posted a 26 percent drop in quarterly net profit to 648 million euros ($984 million), hurt by currency effects and investment writedowns that sent shares lower on Thursday. The result came in above analysts' expectations, thanks to
Published 07 Mar, 2008 12:00am
Aegon reports fourth quarter, 2007 profit decline

Aegon reports fourth quarter, 2007 profit decline

Dutch insurer Aegon NV posted a 26 percent drop in quarterly net profit to 648 million euros ($984 million), hurt by currency effects and investment writedowns that sent shares lower on Thursday. The result came in above analysts' expectations, thanks to
Published 07 Mar, 2008 12:00am
Hong Kong stocks finish three-week losing streak

Hong Kong stocks finish three-week losing streak

Hong Kong stocks rose 1 percent on Thursday, rebounding from three-week lows and taking their cue from advancing global markets and better-than-expected earning from the likes of Hong Kong Exchanges and Clearing. Oil producers jumped on record crude price
Published 07 Mar, 2008 12:00am
US stocks up on services data

US stocks up on services data

US stocks rose on Wednesday as evidence the services sector may not be as weak as feared allayed investors' concerns about a recession and soaring commodity prices lifted energy and mining companies' shares.
Published 07 Mar, 2008 12:00am
Singapore shares surge

Singapore shares surge

Singapore share prices closed 0.25 percent higher on Thursday, tracking overnight gains in US stocks on bargain hunting following recent falls, dealers said. Cautious trading limited gains as investors remained concerned over the impact of the ailing US e
Published 07 Mar, 2008 12:00am
Inflation fears strike long-maturity bonds

Inflation fears strike long-maturity bonds

Long-dated US Treasury debt prices fell for the third consecutive day on Wednesday, with record high commodity prices sparking fears about inflation at a time when the economy is deteriorating.
Published 07 Mar, 2008 12:00am
Inflation fears strike long-maturity bonds

Inflation fears strike long-maturity bonds

Long-dated US Treasury debt prices fell for the third consecutive day on Wednesday, with record high commodity prices sparking fears about inflation at a time when the economy is deteriorating.
Published 07 Mar, 2008 12:00am
Malaysian shares jump

Malaysian shares jump

Malaysian share prices closed 1.5 percent higher on Thursday due to bargain hunting in selected blue chips and a rebound in US stocks, dealers said. The Kuala Lumpur Composite Index closed up 19.46 points at 1,299.69 on volume of 571.55 million shares val
Published 07 Mar, 2008 12:00am
Thai shares end firmer

Thai shares end firmer

Thai share prices closed 0.33 percent higher on Thursday, following other Asian markets in a rebound after overnight gains on Wall Street, dealers said. They said the market rose narrowly because investors continued to sell their shares in major companies
Published 07 Mar, 2008 12:00am
Nikkei rises 1.9 percent

Nikkei rises 1.9 percent

Japan's Nikkei average rose 1.9 percent on Thursday, with exporters such as Canon Inc climbing on a stabilising yen and easing concerns about a US recession. Trading houses such as Mitsubishi Corp extended their gains, buoyed by rising prices of commoditi
Published 07 Mar, 2008 12:00am
Indian stock markets closed for holiday

Indian stock markets closed for holiday

Indian stock, foreign exchange and bond markets are closed on Thursday for a local holiday. Trading resumes on Friday. The benchmark 30-share BSE index snapped a four-day slide and rose 1.2 percent to 16,542.08 on Wednesday, but trade was choppy and inves
Published 07 Mar, 2008 12:00am
Philippines shares rally

Philippines shares rally

Philippines share prices closed 0.8 percent higher on Thursday, encouraged by Wall Street's gains and a surge in prices of gold and other metals overnight, dealers said. They said the seesaw session, however, reflected ongoing concerns about rising oil pr
Published 07 Mar, 2008 12:00am
Jakarta shares up

Jakarta shares up

Indonesian share prices closed 0.6 percent higher on Thursday in a technical rebound led by blue chips, with investors taking their cue from the stronger performances of other Asian markets, dealers said. The Jakarta Composite Index closed up 16.80 points
Published 07 Mar, 2008 12:00am
Yuan jumps

Yuan jumps

The yuan jumped against the dollar in the offshore NDF market on Thursday, setting a fresh post-revaluation record for implied appreciation even though China's central bank chief questioned the need for yuan strength to fight inflation.
Published 07 Mar, 2008 12:00am
Dollar index hits record low

Dollar index hits record low

The dollar fell to a record low against a basket of major currencies and held near a record trough against the euro on Thursday as weak US service sector and employment data kept alive fears of a US recession.
Published 07 Mar, 2008 12:00am
Dollar slides through new record lows

Dollar slides through new record lows

The dollar resumed its slide and fell to record lows against the euro on Wednesday amid growing pessimism over the US economy. Demand for the currency fell further after data showed the country's service sector contracted for a second straight month in Fe
Published 07 Mar, 2008 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Thursday. 68.58/68.58 (previous 68.58/68.58). Call Money Rates: 8.00-20.00 percent (previous 8.00-20.00 percent.
Published 07 Mar, 2008 12:00am
Australian dollar bounces

Australian dollar bounces

The Australian dollar rebounded on Thursday against a broadly weak US dollar, supported by rising commodity prices and improved appetite for riskier assets and higher-yielding currencies. But soft data on domestic building approval and a 41 percent jump i
Published 07 Mar, 2008 12:00am
Asian currencies: Singapore dollar and ringgit remain high

Asian currencies: Singapore dollar and ringgit remain high

The Singapore dollar and Malaysian ringgit hit their highest in more than a decade on Thursday and most other Asian currencies also rose as betting on a US rate cut in March increased after weak US data. The Philippine peso and Taiwan dollar gained 0.5 pe
Published 07 Mar, 2008 12:00am
Swiss franc boosted by falling jobless rate

Swiss franc boosted by falling jobless rate

The Swiss franc was boosted on Thursday by unemployment data, as the country's jobless rate fell to a non-seasonally adjusted 2.7 percent in February from 2.8 percent in the previous month. The data were clearly positive and reflected the robust state of
Published 07 Mar, 2008 12:00am
Murray run stopped by Davydenko

Murray run stopped by Davydenko

Nikolay Davydenko, the Russian who has to play with the constant uncertainty of an investigation hanging over him, earned himself a great chance of reaching only his second ATP Tour final for 17 months on Thursday. The world number five from Moscow overca
Published 07 Mar, 2008 12:00am
Australian tour: PCB not yet informed by CA

Australian tour: PCB not yet informed by CA

Pakistan Cricket Board still expected a positive response from Australian officials about their team's tour of this country, despite media reports of imminent cancellation of the trip. "We have not been (formally) intimated (of cancellation)", PCB's Media
Published 07 Mar, 2008 12:00am
Venus reaches Bangalore quarters

Venus reaches Bangalore quarters

World number seven Venus Williams stumbled past China's Peng Shuai 6-2 6-7 6-2 to reach the quarter-finals of the Bangalore Open on Thursday. The American second seed, who was given a first-round bye, was stretched by her gritty 58th-ranked opponent in a
Published 07 Mar, 2008 12:00am
Lahore Whites register third consecutive win in Senior Cup Cricket

Lahore Whites register third consecutive win in Senior Cup Cricket

Lahore Whites managed their third victory in a row when they defeated Shah Faisal Seniors by 43 runs in the 10th National Senior Cup Cricket Tournament at the Race Course ground here on Thursday. In other matches, Sialkot Veterans and Gujranwala Veterans
Published 07 Mar, 2008 12:00am
Former Test player to coach China's cricket team

Former Test player to coach China's cricket team

China have recruited a former Pakistan Test player to coach the national cricket team for the 2010 Asian Games in Beijing. Rashid Khan, who played four tests and 29 one-dayers for Pakistan, has been coaching China's junior and women's teams since 2006 and
Published 07 Mar, 2008 12:00am
Roddick blasts ITF over tardy Davis Cup reforms

Roddick blasts ITF over tardy Davis Cup reforms

Andy Roddick, who led the United States to regain the Davis Cup after a 12-year interval, has criticised the International Tennis Federation (ITF) for not doing more to reform the competition. Roddick believes that the Davis Cup is one of, if not the bigg
Published 07 Mar, 2008 12:00am
England chase big New Zealand total

England chase big New Zealand total

A late two-wicket burst by Chris Martin rocked England's pursuit of New Zealand's first innings 470 after batsmen had dominated the second day of the first cricket Test here Thursday. A maiden Test century by recalled Ross Taylor, who featured in a sevent
Published 07 Mar, 2008 12:00am
'Merchant of Death' arms dealer arrested

'Merchant of Death' arms dealer arrested

Viktor Bout, an international arms dealer dubbed the "Merchant of Death", was arrested in Thailand on Thursday accused of trying to buy weapons for Colombian rebels, Thai police said. Bout, the target of an international arrest warrant and US sanctions, w
Published 07 Mar, 2008 12:00am
UN envoy returns to Myanmar

UN envoy returns to Myanmar

UN special envoy Ibrahim Gambari arrived in Myanmar on Thursday amid waning optimism about his mission to get the military junta to start talks with the opposition on political reform.
Published 07 Mar, 2008 12:00am
US military sees Okinawa transfer going ahead

US military sees Okinawa transfer going ahead

A recent string of crimes by US troops on Okinawa is unlikely to damage the security alliance or derail plans to rejig US bases on the southern Japanese island, a senior US military officer said on Thursday.
Published 07 Mar, 2008 12:00am
Sri Lanka army kills MP with bomb: Tigers

Sri Lanka army kills MP with bomb: Tigers

Sri Lanka's Tamil Tigers said on Thursday an Army special forces unit blew up a rebel-backed member of parliament in their northern stronghold with a roadside bomb, and a party colleague confirmed his death.
Published 07 Mar, 2008 12:00am
US calls for diplomatic solution to Colombia crisis

US calls for diplomatic solution to Colombia crisis

The United States wants to see a "diplomatic resolution" of a crisis which has pitted Colombia against Venezuela and Ecuador, US Secretary of State Condoleezza Rice said Thursday. "The United States stands strongly for the diplomatic resolution of the rec
Published 07 Mar, 2008 12:00am
Nine killed in fresh attacks

Nine killed in fresh attacks

At least nine people were killed and more than 100 houses torched on Thursday in fresh violence in Kenya's Rift Valley province, a police commander and a local official said.
Published 07 Mar, 2008 12:00am
Kibaki pushes peace deal, honours dead

Kibaki pushes peace deal, honours dead

Kenyan President Mwai Kibaki urged parliament on Thursday to pass into law a power-sharing deal intended to keep the peace after a post-election crisis that left at least 1,000 dead.
Published 07 Mar, 2008 12:00am
Iranian team leaves without US talks on Iraq

Iranian team leaves without US talks on Iraq

An Iranian delegation left Baghdad for home on Thursday without holding talks with officials from archfoe the United States on the security situation in Iraq, an Iranian official said. "The delegation has left Baghdad because the Americans refused to cond
Published 07 Mar, 2008 12:00am
Sweden, Iran trade diplomat expulsions

Sweden, Iran trade diplomat expulsions

Sweden has expelled an Iranian diplomat which prompted a similar move by Tehran. Swedish news agency TT said a source at the Foreign Ministry confirmed the Iranian diplomat had been suspected of spying on Iranian refugees in Sweden.
Published 07 Mar, 2008 12:00am
Russia lifts trade restrictions on Georgian separatists

Russia lifts trade restrictions on Georgian separatists

Russia said on Thursday it was lifting trade restrictions imposed on the Georgian separatist region of Abkhazia, but denied it had been influenced by Western support for Kosovo's independence.
Published 07 Mar, 2008 12:00am
Israeli soldier, Palestinian killed

Israeli soldier, Palestinian killed

A bomb planted by Palestinian militants killed an Israeli soldier on the Gaza frontier on Thursday and an Israeli air strike killed a gunman in the Hamas-controlled territory.
Published 07 Mar, 2008 12:00am
Egypt building wall along sensitive Gaza border

Egypt building wall along sensitive Gaza border

Egypt is building a stone and cement wall on its sensitive frontier with the Gaza Strip to block Palestinians from again breaching the border to circumvent an Israeli-led blockade, security sources said on Thursday.
Published 07 Mar, 2008 12:00am
Egypt holds talks with Hamas and Jihad

Egypt holds talks with Hamas and Jihad

Egypt launched talks on Thursday with Hamas and Islamic Jihad on a truce between the Palestinian militant movements and Israel, officials in the groups said.
Published 07 Mar, 2008 12:00am
International rights panel quits Sri Lanka

International rights panel quits Sri Lanka

A top foreign panel invited by Sri Lanka to observe investigations into human rights abuses announced Thursday it was quitting the island and accused Colombo of failing to tackle the issue.
Published 07 Mar, 2008 12:00am
2,000 US troops leaving Iraq

2,000 US troops leaving Iraq

Some 2,000 US soldiers are being withdrawn from Baghdad as part of a planned reduction of US forces in Iraq, the US military said on Thursday. The 2nd Brigade Combat Team, 82nd Airborne Division, was part of the extra 30,000 soldiers sent last year to sto
Published 07 Mar, 2008 12:00am
Pound rises above $2

Pound rises above $2

Sterling rose above $2 for the first time this year on Thursday, after the Bank of England left interest rates on hold at 5.25 percent, disappointing minority expectations for a cut. "There was a little chance of a cut priced into the curve so there was a
Published 07 Mar, 2008 12:00am
Euro nears record peak versus dollar

Euro nears record peak versus dollar

The euro hit record highs around $1.5350 on Thursday on expectations the European Central Bank won't be ready to cut interest rates for a while yet and once it starts won't be as aggressive as the Federal Reserve. The ECB left rates at 4 percent as expect
Published 07 Mar, 2008 12:00am
Australian dollar bounces

Australian dollar bounces

The Australian dollar rebounded on Thursday against a broadly weak US dollar, supported by rising commodity prices and improved appetite for riskier assets and higher-yielding currencies.
Published 07 Mar, 2008 12:00am
China stocks rebound

China stocks rebound

China's stock market rebounded in heavy trade on Thursday, led by a nearly 8 percent jump in Ping An Insurance after shareholders approved its controversial plan for an equity issue that could raise some $17 billion.
Published 07 Mar, 2008 12:00am
Asian bonds steady

Asian bonds steady

Asian bonds held broadly steady on Thursday ahead of key US jobs data, and the mood remained edgy despite a stocks rally as investors feared more credit-related losses.
Published 07 Mar, 2008 12:00am
Asian bonds steady

Asian bonds steady

Asian bonds held broadly steady on Thursday ahead of key US jobs data, and the mood remained edgy despite a stocks rally as investors feared more credit-related losses.
Published 07 Mar, 2008 12:00am
iTraxx Europe hits record peak

iTraxx Europe hits record peak

European credit spreads widened to record highs on Thursday as stock markets fell, a European credit fund failed to meet margin calls and clouds again hung over US bond insurers. By 1614 GMT, the Markit investment-grade iTraxx Europe index hit a record 14
Published 07 Mar, 2008 12:00am
iTraxx Europe hits record peak

iTraxx Europe hits record peak

European credit spreads widened to record highs on Thursday as stock markets fell, a European credit fund failed to meet margin calls and clouds again hung over US bond insurers. By 1614 GMT, the Markit investment-grade iTraxx Europe index hit a record 14
Published 07 Mar, 2008 12:00am
UK's top share index slides

UK's top share index slides

Britain's top share index slid on Thursday, with banks on both sides of the Atlantic hit by fears of more losses, while weak US housing data fuelled concerns for a US economy flirting with recession. The Bank of England kept interest rates on hold at 5.25
Published 07 Mar, 2008 12:00am
Brazil green coffee exports down

Brazil green coffee exports down

Brazil exported 1.85 million 60-kg bags of green coffee in February, down 2.8 percent from 1.90 million bags shipped a year ago, the Council of Green Coffee Exporters said Thursday. Brazil shipped 1.94 million bags of coffee in January.
Published 07 Mar, 2008 12:00am
Frosty pod-resistant cocoa seeds bound for Africa

Frosty pod-resistant cocoa seeds bound for Africa

Costa Rican scientists plan to ship to Africa cocoa tree seeds bred to resist a deadly Latin American fungus, to preempt any outbreak of the disease in the world's largest cocoa growing region. "Frosty pod" fungus, or Moniliophthora roreri, is only found
Published 07 Mar, 2008 12:00am
Cameroon cocoa exports drop

Cameroon cocoa exports drop

Cocoa exports from Cameroon fell by more than 40 percent week-on-week in the wake of violent anti-government riots which cut off roads in the world's fourth biggest producer, senior industry officials said on Thursday.
Published 07 Mar, 2008 12:00am
London coffee, cocoa consolidate

London coffee, cocoa consolidate

Robusta coffee futures eased on speculative selling and profit-taking from recent 12-1/2-year highs at midsession on Thursday, while cocoa inched up in choppy trade and sugar was steady in low volumes, dealers said.
Published 07 Mar, 2008 12:00am
World comes knocking for EU wheat, but not for long

World comes knocking for EU wheat, but not for long

European wheat exports are accelerating as export curbs in key producers, a shrinking US surplus and strong global demand bring the world's major importers to its door, analysts and traders say. "Europe is where the wheat is and...is where buyers will tur
Published 07 Mar, 2008 12:00am
Copper retreats after hitting record high

Copper retreats after hitting record high

Copper prices hit a record high on fresh fund buying on Thursday, but the market then lost some gains as some investors rushed to cash in profits after a breathless rally.
Published 07 Mar, 2008 12:00am
London gold retreats from record high

London gold retreats from record high

Gold retreated from record highs on Thursday as oil prices slipped, but the precious metal held within striking distance of $1,000 a troy ounce as the dollar struck an all-time low against the euro.
Published 07 Mar, 2008 12:00am
US MIDDAY: coffee tumbles

US MIDDAY: coffee tumbles

Arabica coffee futures trading on ICE Futures US took a dive early on Thursday, after long liquidation hit the market, traders said. The key May coffee contract sank 7.90 cents, or 4.8 percent, to $1.56 per lb, after touching the session high at $1.6595.
Published 07 Mar, 2008 12:00am
US MIDDAY: sugar sags

US MIDDAY: sugar sags

ICE raw sugar futures hit their lowest levels in three weeks early on Thursday as widespread liquidation pressures stretched across the broader commodity markets, analysts said. The ICE Futures May electronic sugar contract fell as much as 1.02 cents, or
Published 07 Mar, 2008 12:00am
US MIDDAY: wheat declines

US MIDDAY: wheat declines

Wheat futures on the Chicago Board of Trade turned lower at midsession on Thursday, following limit declines in soyabeans and Minneapolis Grain Exchange spring wheat, traders said. Declines in US gold and crude oil futures added to the bearish sentiment.
Published 07 Mar, 2008 12:00am
US MIDDAY: corn down

US MIDDAY: corn down

US corn futures turned lower early on Thursday in a profit-taking setback after the rally early this week to record highs, traders said. A steep slide in soyabeans and volatile dealings in gold and crude oil after record highs were notched late this week
Published 07 Mar, 2008 12:00am
US MIDDAY: soyabeans plummets

US MIDDAY: soyabeans plummets

Chicago Board of Trade May soyabean futures slid the 50-cent trading limit by Thursday's midsession on spillover selling from the other commodity markets, traders said. After May soyabeans dropped 50 cents to $14.58-1/2 per bushel. July, August and Novemb
Published 07 Mar, 2008 12:00am
US MIDDAY: copper surges

US MIDDAY: copper surges

US copper futures vaulted past the $4.00 a lb level for the first time since early May 2006 on Thursday as investment fund money continued to flow into the broader commodity complex. Copper prices have since backed off that level in early New York busines
Published 07 Mar, 2008 12:00am
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