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Print - 2008-03-12
New York cocoa ends lower

New York cocoa ends lower

US cocoa futures eased with other soft commodities on Monday, settling 0.9 percent lower as traders continued to lock up profits made on the run to 28-year highs last week. "Fund activity overall has been pretty quiet today as the markets look to consolid
Published 12 Mar, 2008 12:00am
Russian grain, sunseed prices keep rising

Russian grain, sunseed prices keep rising

Russian grain prices rose steadily last week on limited supply, with sellers setting new price levels daily, although the overall rate of increase was slower than in previous weeks. The domestic wheat and rye markets climb to new record highs, the indepen
Published 12 Mar, 2008 12:00am
Malaysian tin slips

Malaysian tin slips

Malaysian tin fell slightly on Tuesday, as good physical demand from Japan and Europe offset the impact of a $200-per-tonne drop on the London Metal Exchange, one dealer said.
Published 12 Mar, 2008 12:00am
Recession fears haunt Shanghai copper

Recession fears haunt Shanghai copper

Shanghai copper fell 1.3 percent on Tuesday, following losses in London overnight as concerns that the United States is running into recession dampened enthusiasm for industrial metals.
Published 12 Mar, 2008 12:00am
US copper lower

US copper lower

US copper futures ended at a two-week low on Monday on selling linked to fears of a looming US recession and slower demand signals from China, the world's leading copper consumer, analysts said. Chinese imports fell 5 percent to 226,980 tonnes in February
Published 12 Mar, 2008 12:00am
Banks told to check misuse of wheat finance facility

Banks told to check misuse of wheat finance facility

The State Bank of Pakistan on Tuesday instructed banks to ensure that the wheat procurement finance facility is not utilised for wheat hoarding. Banks were also directed not to entertain any application for grant of fresh loans after June 30, 2008 for pro
Published 12 Mar, 2008 12:00am
US platinum, gold end down

US platinum, gold end down

New York platinum futures retraced heavy initial losses to finish slightly down on bargain hunting, while gold and silver contracts fell but moved off their lows in a broad-based metals recovery. A sharp rally in crude oil prices also powered gold to reco
Published 12 Mar, 2008 12:00am
Banks told to check misuse of wheat finance facility

Banks told to check misuse of wheat finance facility

The State Bank of Pakistan on Tuesday instructed banks to ensure that the wheat procurement finance facility is not utilised for wheat hoarding. Banks were also directed not to entertain any application for grant of fresh loans after June 30, 2008 for pro
Published 12 Mar, 2008 12:00am
Platinum jumps, gold tracks retreating oil

Platinum jumps, gold tracks retreating oil

Platinum, used in auto catalysts and jewellery, rallied 4 percent on Tuesday as speculators jumped into the market after a drop the previous day, while gold tracked oil's fall from record highs.
Published 12 Mar, 2008 12:00am
Banks told to check misuse of wheat finance facility

Banks told to check misuse of wheat finance facility

The State Bank of Pakistan on Tuesday instructed banks to ensure that the wheat procurement finance facility is not utilised for wheat hoarding. Banks were also directed not to entertain any application for grant of fresh loans after June 30, 2008 for pro
Published 12 Mar, 2008 12:00am
Indian soyaoil futures up

Indian soyaoil futures up

Indian soyaoil futures rose on Tuesday tracking firm Malaysian palm oil and pushed up by renewed spot buying after markets fell more than 9 percent last week. At 4:20 pm (1050 GMT), the March contract was up 2.76 percent at 687.35 rupees ($17) per 10 kg.
Published 12 Mar, 2008 12:00am
Oil steadies near record above $108

Oil steadies near record above $108

Oil was steady just below a record high on Tuesday as investors hedged against growing inflation and the falling dollar. US light crude for April delivery fell 5 cents to $107.85 a barrel, after touching a record $108.21 a barrel in the previous session.
Published 12 Mar, 2008 12:00am
US rice futures shake off sales

US rice futures shake off sales

US rough rice futures on the Chicago Board of Trade rallied on Monday, with the most active contracts rebounding from weakness to rise the 50-cent trading limit, traders said. CBOT rice was under pressure late last week and Monday on a technical correctio
Published 12 Mar, 2008 12:00am
Boeing challenges tanker award

Boeing challenges tanker award

Boeing said Tuesday it filed a formal challenge to the US Air Force decision to award a 35-billion-dollar aerial refuelling tanker contract to Northrop Grumman and its European partner EADS.
Published 12 Mar, 2008 12:00am
Manila eyes emergency rice fund after auction

Manila eyes emergency rice fund after auction

The Philippines said on Tuesday it may tap a emergency regional rice fund after it attracted only 335,500 tonnes at a tender, less than two thirds of the volume asked for and at significantly higher prices.
Published 12 Mar, 2008 12:00am
Musharraf convenes National Assembly session on March 17

Musharraf convenes National Assembly session on March 17

President Pervez Musharraf has convened for next week the maiden session of National Assembly wherein at least more than half of members are in favour of putting up a challenge to his authoritarian rule.
Published 12 Mar, 2008 12:00am
New York sugar futures end off

New York sugar futures end off

ICE raw sugar futures closed at a one-month low on Monday as investors continued to limit their exposure in the market following last week's surge through 15.00 cents, brokers said. "I think you're seeing people cutting back some of their exposure in cert
Published 12 Mar, 2008 12:00am
Musharraf convenes National Assembly session on March 17

Musharraf convenes National Assembly session on March 17

President Pervez Musharraf has convened for next week the maiden session of National Assembly wherein at least more than half of members are in favour of putting up a challenge to his authoritarian rule.
Published 12 Mar, 2008 12:00am
Soya futures end mostly down

Soya futures end mostly down

US soyabean futures on the Chicago Board of Trade ended mostly lower on Monday after a volatile session that included a 50-cent-per-bushel limit slide then a rebound, traders said. The most active contract, May soyabeans, ended 2-1/4 cents per bushel lowe
Published 12 Mar, 2008 12:00am
February food inflation soars to 16.05 percent

February food inflation soars to 16.05 percent

The Consumer Price Index (CPI), a key indicator of inflation, rose 11.25 percent in February 2008 with soaring 16.05 percent food inflation over the same period of last year.
Published 12 Mar, 2008 12:00am
Tokyo rubber off high

Tokyo rubber off high

Tokyo rubber futures fell from highs on Tuesday as bearish technical signs prompted fund selling, but record high crude oil prices and concerns over supplies provided some support. The benchmark Tokyo Commodity Exchange rubber contract for August delivery
Published 12 Mar, 2008 12:00am
February food inflation soars to 16.05 percent

February food inflation soars to 16.05 percent

The Consumer Price Index (CPI), a key indicator of inflation, rose 11.25 percent in February 2008 with soaring 16.05 percent food inflation over the same period of last year.
Published 12 Mar, 2008 12:00am
Indonesian palm oil market mixed

Indonesian palm oil market mixed

Indonesian palm oil prices were mixed on Tuesday, despite gains in the Malaysian market, as recent price swings made many traders cautious. The state marketing centre in Jakarta sold crude palm oil at 10,445 rupiah ($1.14) a kg, an increase of 4 percent f
Published 12 Mar, 2008 12:00am
February food inflation soars to 16.05 percent

February food inflation soars to 16.05 percent

The Consumer Price Index (CPI), a key indicator of inflation, rose 11.25 percent in February 2008 with soaring 16.05 percent food inflation over the same period of last year.
Published 12 Mar, 2008 12:00am
Malaysian palm oil rises

Malaysian palm oil rises

Malaysian crude palm oil prices ended nearly 5 percent higher on Tuesday on the back of stronger export data and on expectations that soyaoil prices would continue to rise overnight, traders said.
Published 12 Mar, 2008 12:00am
Revised bidding, contract documents of PEC approved

Revised bidding, contract documents of PEC approved

In the light of the World Bank''s recommendations, the Executive Committee of National Economic Council (Ecnec) has approved revised bidding/ contract documents of the Pakistan Engineering Council (PEC) for provision of escalation in cost to offset the im
Published 12 Mar, 2008 12:00am
Unemployment rate rises in 27 states

Unemployment rate rises in 27 states

Michigan again recorded the highest unemployment rate in January, followed by Alaska, with most states recording little change in the measure, the Labour Department said on Tuesday.
Published 12 Mar, 2008 12:00am
Revised bidding, contract documents of PEC approved

Revised bidding, contract documents of PEC approved

In the light of the World Bank's recommendations, the Executive Committee of National Economic Council (Ecnec) has approved revised bidding/ contract documents of the Pakistan Engineering Council (PEC) for provision of escalation in cost to offset the imp
Published 12 Mar, 2008 12:00am
US trade gap widens

US trade gap widens

The US trade deficit widened slightly in January, as oil prices averaging $84 per barrel pushed imports to an all-time high even though slow US economic growth reduced demand for many foreign goods.
Published 12 Mar, 2008 12:00am
Revised bidding, contract documents of PEC approved

Revised bidding, contract documents of PEC approved

In the light of the World Bank's recommendations, the Executive Committee of National Economic Council (Ecnec) has approved revised bidding/ contract documents of the Pakistan Engineering Council (PEC) for provision of escalation in cost to offset the imp
Published 12 Mar, 2008 12:00am
EADS 2007 net loss worse than expected

EADS 2007 net loss worse than expected

Steep losses at planemaker Airbus pushed European aerospace group EADS further than expected into the red last year, hitting its shares as it also disappointed investors with a cautious profit forecast.
Published 12 Mar, 2008 12:00am
Karachi LTU seeks sufficient fiscal administrative autonomy

Karachi LTU seeks sufficient fiscal administrative autonomy

The Large Taxpayer Unit (LTU) at Karachi has sought sufficient financial and administrative autonomy from the Federal Board of Revenue (FBR) to independently deal with the shortage of sales tax officials, non-availability of IT equipment and other serious
Published 12 Mar, 2008 12:00am
EADS 2007 net loss worse than expected

EADS 2007 net loss worse than expected

Steep losses at planemaker Airbus pushed European aerospace group EADS further than expected into the red last year, hitting its shares as it also disappointed investors with a cautious profit forecast.
Published 12 Mar, 2008 12:00am
Karachi LTU seeks sufficient fiscal administrative autonomy

Karachi LTU seeks sufficient fiscal administrative autonomy

The Large Taxpayer Unit (LTU) at Karachi has sought sufficient financial and administrative autonomy from the Federal Board of Revenue (FBR) to independently deal with the shortage of sales tax officials, non-availability of IT equipment and other serious
Published 12 Mar, 2008 12:00am
EU assembly approves European innovation body

EU assembly approves European innovation body

The European Parliament on Tuesday approved the setting up of a technology institute aimed at plugging Europe's innovation gap with the United States and China.
Published 12 Mar, 2008 12:00am
Karachi LTU seeks sufficient fiscal administrative autonomy

Karachi LTU seeks sufficient fiscal administrative autonomy

The Large Taxpayer Unit (LTU) at Karachi has sought sufficient financial and administrative autonomy from the Federal Board of Revenue (FBR) to independently deal with the shortage of sales tax officials, non-availability of IT equipment and other serious
Published 12 Mar, 2008 12:00am
BoE extends liquidity measures

BoE extends liquidity measures

The Bank of England extended its offer of three-month loans against easier collateral on Tuesday as part of a co-ordinated action by the world's top central banks to calm nervous money markets.
Published 12 Mar, 2008 12:00am
Oil touches near $110

Oil touches near $110

Oil surged to a record near $110 a barrel on Tuesday before a liquidity injection by the US Federal Reserve and other central banks pared gains. US crude settled up 85 cents at $108.75 a barrel after hitting $109.72. London Brent crude rose $1.09 to $105.
Published 12 Mar, 2008 12:00am
British airlines attack higher London landing charges

British airlines attack higher London landing charges

British and Irish airlines joined forces Tuesday to attack a move allowing airports operator BAA to significantly increase landing charges for planes touching down at London's main airports.
Published 12 Mar, 2008 12:00am
Oil touches near $110

Oil touches near $110

Oil surged to a record near $110 a barrel on Tuesday before a liquidity injection by the US Federal Reserve and other central banks pared gains. US crude settled up 85 cents at $108.75 a barrel after hitting $109.72. London Brent crude rose $1.09 to $105.
Published 12 Mar, 2008 12:00am
China reshuffles energy sector

China reshuffles energy sector

China on Tuesday unveiled a long-awaited reshuffle of its energy sector, setting up two new but relatively weak bodies that analysts say may struggle to improve handling of demand, security and powerful companies.
Published 12 Mar, 2008 12:00am
Oil touches near $110

Oil touches near $110

Oil surged to a record near $110 a barrel on Tuesday before a liquidity injection by the US Federal Reserve and other central banks pared gains. US crude settled up 85 cents at $108.75 a barrel after hitting $109.72. London Brent crude rose $1.09 to $105.
Published 12 Mar, 2008 12:00am
KLM says subject of probe

KLM says subject of probe

KLM Royal Dutch Airlines, the Dutch arm of Air France KLM, said on Tuesday it was subject of a EU cartel probe. A spokeswoman told ANP Reuters that KLM would fully cooperate with the authorities.
Published 12 Mar, 2008 12:00am
EU raids airlines in cartel probe

EU raids airlines in cartel probe

European Commission trust busters raided the offices of several international airlines operating long-haul scheduled flights to Japan on Tuesday in an investigation into suspected cartel activity.
Published 12 Mar, 2008 12:00am
SocGen's $8.5 billion rights issue oversubscribed

SocGen's $8.5 billion rights issue oversubscribed

French bank Societe Generale said its 5.5 billion euro ($8.45 billion) rights issue was oversubscribed, providing a base for its battle to recover from a trading scandal that has made it a take-over target. Investors applied for 1.84 times the number of s
Published 12 Mar, 2008 12:00am
SocGen's $8.5 billion rights issue oversubscribed

SocGen's $8.5 billion rights issue oversubscribed

French bank Societe Generale said its 5.5 billion euro ($8.45 billion) rights issue was oversubscribed, providing a base for its battle to recover from a trading scandal that has made it a take-over target. Investors applied for 1.84 times the number of s
Published 12 Mar, 2008 12:00am
US cargo scanning law unfair: EU envoy

US cargo scanning law unfair: EU envoy

A US law requiring the European Union and other countries to eventually scan all cargo headed to the United States forces other countries to pay for US security - without getting the same benefit in return.
Published 12 Mar, 2008 12:00am
New lending facility to boost market function: Fed

New lending facility to boost market function: Fed

A fresh Federal Reserve facility to pump up to $200 billion into stressed financial markets should help improve market functioning by quickly making a large amount of liquidity available, senior Fed officials said on Tuesday.
Published 12 Mar, 2008 12:00am
New lending facility to boost market function: Fed

New lending facility to boost market function: Fed

A fresh Federal Reserve facility to pump up to $200 billion into stressed financial markets should help improve market functioning by quickly making a large amount of liquidity available, senior Fed officials said on Tuesday.
Published 12 Mar, 2008 12:00am
China's inflation leaps to 11-year high

China's inflation leaps to 11-year high

China's consumer price inflation jumped in February to an 11-year high of 8.7 percent, presenting Beijing's stability-conscious leaders with a big economic headache in the run-up to the Olympic Games. Inflation in January was 7.1 percent and economists ha
Published 12 Mar, 2008 12:00am
Constellation to pay $5 million penalty

Constellation to pay $5 million penalty

A unit of Constellation Energy Group will pay a $5 million civil penalty and disgorge $1.9 million in profits for violating natural gas shipping rules set by the Federal Energy Regulatory Commission (FERC), the agency said Tuesday.
Published 12 Mar, 2008 12:00am
EADS seeks extra measures to deal with weak dollar

EADS seeks extra measures to deal with weak dollar

The board of European defence group EADS will discuss additional measures to deal with the weak dollar in the coming weeks, Chief Executive Louis Gallois said on Tuesday. "We are preparing extra measures and we will inform the board in the next few weeks,
Published 12 Mar, 2008 12:00am
Old Mutual says Mutual & Federal stake sale ends

Old Mutual says Mutual & Federal stake sale ends

Insurer Old Mutual said on Tuesday it had called off talks to sell its stake in Mutual & Federal to Royal Bafokeng Holdings. Old Mutual, which owns just under 75 percent of M&F, said it and RBH "were unable to agree mutually acceptable terms in the curren
Published 12 Mar, 2008 12:00am
Old Mutual says Mutual & Federal stake sale ends

Old Mutual says Mutual & Federal stake sale ends

Insurer Old Mutual said on Tuesday it had called off talks to sell its stake in Mutual & Federal to Royal Bafokeng Holdings. Old Mutual, which owns just under 75 percent of M&F, said it and RBH "were unable to agree mutually acceptable terms in the curren
Published 12 Mar, 2008 12:00am
Cadbury drinks spinoff set for May 7, shares rise

Cadbury drinks spinoff set for May 7, shares rise

Cadbury Schweppes, the world's biggest confectioner, said the demerger of its $11 billion North American soft drinks business is set for May 7, easing concerns over a delay and sending its shares higher.
Published 12 Mar, 2008 12:00am
Cadbury drinks spinoff set for May 7, shares rise

Cadbury drinks spinoff set for May 7, shares rise

Cadbury Schweppes, the world's biggest confectioner, said the demerger of its $11 billion North American soft drinks business is set for May 7, easing concerns over a delay and sending its shares higher.
Published 12 Mar, 2008 12:00am
Markets working through excesses: Treasury official

Markets working through excesses: Treasury official

A top US Treasury official on Monday said that recent market turmoil highlighted the need for strong discipline and "robust" risk management, but stressed markets were working through their problems.
Published 12 Mar, 2008 12:00am
Markets working through excesses: Treasury official

Markets working through excesses: Treasury official

A top US Treasury official on Monday said that recent market turmoil highlighted the need for strong discipline and "robust" risk management, but stressed markets were working through their problems.
Published 12 Mar, 2008 12:00am
Iran may sell higher price fuel after March trial

Iran may sell higher price fuel after March trial

Iran may extend a plan to sell extra, higher priced gasoline outside a rationing system beyond an experimental period starting this month if the initial phase is a success, state media reported on Monday.
Published 12 Mar, 2008 12:00am
Norske Skog says first quarter significantly weaker than Q4

Norske Skog says first quarter significantly weaker than Q4

Norwegian paper maker Norske Skog said on Tuesday that first quarter results will be significantly weaker than for the fourth quarter last year, and it would stop work on a paper machine project in Brazil. Shares in Norske Skog fell 5.2 percent to 20.80 c
Published 12 Mar, 2008 12:00am
Norske Skog says first quarter significantly weaker than Q4

Norske Skog says first quarter significantly weaker than Q4

Norwegian paper maker Norske Skog said on Tuesday that first quarter results will be significantly weaker than for the fourth quarter last year, and it would stop work on a paper machine project in Brazil. Shares in Norske Skog fell 5.2 percent to 20.80 c
Published 12 Mar, 2008 12:00am
Fortis set to merge ABN asset management operations

Fortis set to merge ABN asset management operations

Belgian-Dutch financial group Fortis said on Monday its first step in acquiring parts of ABN Amro's business was going smoothly, with its asset management arm due to become part of Fortis in three weeks.
Published 12 Mar, 2008 12:00am
Opportunistic investors recoil from Asia property

Opportunistic investors recoil from Asia property

Opportunistic investors are pulling back from Asian property because they see more scope for picking up distressed assets in the United States and Europe, and loans are harder to get in Japan, one of their favourite markets.
Published 12 Mar, 2008 12:00am
Sierra Leone to complete mining review in three months

Sierra Leone to complete mining review in three months

Sierra Leone will complete a review of all mining contracts within the next three months to resolve disputes over licences awarded under the previous government, President Ernest Bai Koroma said in an interview.
Published 12 Mar, 2008 12:00am
Canada outdoes sagging US as housing starts soar

Canada outdoes sagging US as housing starts soar

Canadian housing starts grew unexpectedly strongly in February, again highlighting the contrast with the United States, where the battered housing sector has sparked an economic downturn.
Published 12 Mar, 2008 12:00am
Flowers calls for meeting with Friends

Flowers calls for meeting with Friends

Private equity firm JC Flowers has called for a meeting with Friends Provident, after the troubled UK insurer publicly asked its US suitor to make clear whether it planned to bid for it.
Published 12 Mar, 2008 12:00am
Chevron plans second LNG project in Australia

Chevron plans second LNG project in Australia

US oil giant Chevron Corp said Monday it plans to develop its second multi-billion dollar liquefied natural gas (LNG) project in Western Australia. The project centres on Chevron's wholly-owned Wheatstone natural gas discovery, off the coast of Karratha.
Published 12 Mar, 2008 12:00am
Indian shares higher

Indian shares higher

Indian shares closed 1.25 percent higher on Tuesday to snap six straight trading days of losses that saw the benchmark index fall 25 percent, dealers said. They said many retail investors joined domestic funds seeking bargains in blue chip shares.
Published 12 Mar, 2008 12:00am
Philippines shares close flat

Philippines shares close flat

Philippines share prices closed flat on Tuesday as investors chased a few bargains in the face of more losses on Wall Street and crude oil's surge to new record levels, dealers said. The main index moved in and out of negative territory throughout the ses
Published 12 Mar, 2008 12:00am
Hong Kong stocks surge

Hong Kong stocks surge

Hong Kong blue chips rebounded into positive territory on Tuesday as investors bought oversold banks and sought safe havens in the city's utilities, driving Hongkong Electric to an all-time high. China plays also gained, but underperformed the blue chips
Published 12 Mar, 2008 12:00am
US stocks finish lower

US stocks finish lower

US stocks fell for a third session on Monday, as investors dumped financial shares on fears of more credit losses and concerns that the US economy may already be in recession. The sell-off in financial stocks picked up speed after rumours circulated that
Published 12 Mar, 2008 12:00am
Singapore shares slightly firmer

Singapore shares slightly firmer

Singapore share prices closed 0.86 percent higher on Tuesday on bargain hunting after recent declines, dealers said. They said trading was subdued following early losses due to Wall Street's overnight declines and the surge in oil prices to a new record l
Published 12 Mar, 2008 12:00am
US Treasury prices jump

US Treasury prices jump

US Treasury debt prices jumped on Monday for a third straight session as steadily deteriorating credit conditions fired a strong safe-haven bid. Talk that a Wall Street firm could be running short on capital pushed down the 10-year Treasury note's yield t
Published 12 Mar, 2008 12:00am
US Treasury prices jump

US Treasury prices jump

US Treasury debt prices jumped on Monday for a third straight session as steadily deteriorating credit conditions fired a strong safe-haven bid. Talk that a Wall Street firm could be running short on capital pushed down the 10-year Treasury note's yield t
Published 12 Mar, 2008 12:00am
Malaysian shares rebound

Malaysian shares rebound

Malaysian share prices rebounded to close 2.8 percent higher on Tuesday as investors picked up blue chips after steep losses a day earlier, dealers said. Construction stocks, which saw the biggest falls yesterday, led gainers, along with plantation stocks
Published 12 Mar, 2008 12:00am
Thai shares end higher

Thai shares end higher

Thai share prices closed 1.63 percent higher on Tuesday, led by bargain hunting and gains across Asia, dealers said. They said investors chased gains in energy-linked, hi-tech and banking stocks. The Stock Exchange of Thailand (SET) composite index rose 1
Published 12 Mar, 2008 12:00am
Jakarta shares tumble

Jakarta shares tumble

Indonesian share prices closed 0.2 percent lower on Tuesday after major stocks and miners rebounded in the afternoon in line with most regional markets, dealers said. The Jakarta Composite Index closed down 4.33 points at 2,523.53, off a low of 2,446.23,
Published 12 Mar, 2008 12:00am
Nikkei gains after hitting two-year lows

Nikkei gains after hitting two-year lows

Japan's Nikkei average ended in positive territory on Tuesday after touching its lowest in two and a half years on worries about the US economy, its recovery helped by buying of JFE Holdings and other steel firms.
Published 12 Mar, 2008 12:00am
Taiwan stocks rise

Taiwan stocks rise

Taiwan stocks rose for the first time in three days to close up 0.99 percent on Tuesday, as Far Eastern Textile led asset-rich firms higher on hopes that closer business ties with China after Taiwan's elections will boost their asset value.
Published 12 Mar, 2008 12:00am
Spot yuan flat

Spot yuan flat

The yuan was flat against the dollar on Tuesday in the onshore spot market and slipped on the forwards markets after China reported surprisingly high inflation for February. Some dealers said the yuan's softness despite the data showed the markets thought
Published 12 Mar, 2008 12:00am
Dollar edges up against yen

Dollar edges up against yen

The dollar edged up after sliding close to an eight-year low against the yen on Tuesday, as Tokyo share prices gained despite a fall on Wall Street. The dollar fell to 101.42 yen in early trade, nearing an eight-year low of 101.40 yen struck on electronic
Published 12 Mar, 2008 12:00am
Yen and Swiss franc rise in New York

Yen and Swiss franc rise in New York

The yen and Swiss franc firmed broadly on Monday as US stocks fell on credit-related worries, prompting investors to reduce exposure to risky assets and unwind trades funded by the Japanese and Swiss currencies' low rates.
Published 12 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 Tuesday. 68.57/68.58 (previous 68.58/68.58). Call Money Rates: 8.00-20.00 percent (previous 8.00-20.00 percent.
Published 12 Mar, 2008 12:00am
Most Asian currencies fall

Most Asian currencies fall

Most Asian currencies fell on Tuesday as concerns over credit markets raised fears of a deeper US economic downturn, although both stocks and currencies pared losses during the day in anticipation of a Fed rate cut.
Published 12 Mar, 2008 12:00am
Swiss franc eases off recent highs

Swiss franc eases off recent highs

The Swiss franc eased slightly on Tuesday but stayed close to highs against euro and dollar as worries about the global economy supported the safe haven franc. The Swiss National Bank has not expressed concerns about the franc's rise so far, UBS analyst R
Published 12 Mar, 2008 12:00am
Australian dollar off lows

Australian dollar off lows

The Australian dollar traded just above three-week lows against the US currency and near six-week lows against the Japanese yen on Tuesday, as deepening turmoil in credit markets kept investors away from high-yielding currencies.
Published 12 Mar, 2008 12:00am
Buchanan joins IPL as Kolkata coach

Buchanan joins IPL as Kolkata coach

Former Australia coach John Buchanan will link up with old adversary Saurav Ganguly after signing up with the lucrative Indian Premier League (IPL) on Tuesday.
Published 12 Mar, 2008 12:00am
IPL will not gain official status: ICC

IPL will not gain official status: ICC

Runs and wickets at the Indian Premier League's Twenty20 competition will not gain official recognition, cricket's world governing body said Tuesday. The International Cricket Council (ICC) regards the multi-million-dollar IPL, promoted by the Indian boar
Published 12 Mar, 2008 12:00am
Federer beat Sampras in New York exhibition

Federer beat Sampras in New York exhibition

World number one Roger Federer enjoyed a special moment here on Monday when he beat Pete Sampras in an electrifying exhibition match in New York's Madison Square Garden. "It was like a dream come true for me," Federer said. "Playing my childhood hero here
Published 12 Mar, 2008 12:00am
After 30 years, Navratilova regains Czech nationality

After 30 years, Navratilova regains Czech nationality

Tennis legend Martina Navratilova said Tuesday she has regained Czech nationality more than 30 years after fleeing communism in the country of her birth to live in the United States. "I lost it at the time I defected. I got it back on January 9," Navratil
Published 12 Mar, 2008 12:00am
Misbah, Salman, Tanveer and Hafeez join list of IPL auction

Misbah, Salman, Tanveer and Hafeez join list of IPL auction

The Kolkata franchise, owned by Bollywood star Shahrukh Khan, purchased two Pakistanis, Salman Butt (100,000 dollars) and Mohammad Hafeez (100,000 dollars) besides India juniors Siddarth Kaul and Iqbal Abdullah for multi-million-dollar Twenty20 event Indi
Published 12 Mar, 2008 12:00am
Bangladesh to tour Pakistan next month

Bangladesh to tour Pakistan next month

Minnows Bangladesh said Tuesday they would tour Pakistan next month after world champions Australia postponed a cricket series there over security fears. Cricket Australia Tuesday told Pakistan authorities that their team's upcoming tour starting late thi
Published 12 Mar, 2008 12:00am
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