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Nov 25, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2008-04-04
US Midwest soyabean bids rise but corn weak

US Midwest soyabean bids rise but corn weak

Spot basis bids for soyabeans rose at locations around the US Midwest on Thursday, while corn bids were mostly weaker, grain dealers said. Slow country movement of soyabeans in recent weeks prompted dealers to boost their bids in an effort to entice farme
Published 04 Apr, 2008 12:00am
Italy converts $100 million debt into development funding

Italy converts $100 million debt into development funding

Finance and Economic Affairs Division Minister Ishaq Dar on Thursday chaired the Joint Management Committee meeting at the Economic Affairs Division for conversion of $100 million Italian debt into development projects funding.
Published 04 Apr, 2008 12:00am
KCBT wheat futures end higher

KCBT wheat futures end higher

Hard red winter wheat futures on the Kansas City Board of Trade ended higher on Wednesday on a technical bounce after a week-long sell-off, traders said. KCBT May wheat ended up 36 cents at $9.86, and the new July ended up 39 cents at $9.98.
Published 04 Apr, 2008 12:00am
Italy converts $100 million debt into development funding

Italy converts $100 million debt into development funding

Finance and Economic Affairs Division Minister Ishaq Dar on Thursday chaired the Joint Management Committee meeting at the Economic Affairs Division for conversion of $100 million Italian debt into development projects funding.
Published 04 Apr, 2008 12:00am
Tea prices mixed on Jodia Bazaar

Tea prices mixed on Jodia Bazaar

The trading on tea showed mixed trend on Jodia Bazaar here on Thursday. The following variations were noted.
Published 04 Apr, 2008 12:00am
Ministry of Petroleum clarification

Ministry of Petroleum clarification

Apropos a news item "Petroleum Ministry has set the cat among the pigeons" carried by Business Recorder on Thursday, the Ministry of Petroleum has said that the matter was misreported. It said the impression created in the news item is not well fou
Published 04 Apr, 2008 12:00am
Grams, rice prices up on grain market

Grams, rice prices up on grain market

Prices shot up on the grain market on Thursday as many retailers were trying to hoard the commodities due to continued surge in prices, dealers said.
Published 04 Apr, 2008 12:00am
Ministry of Petroleum clarification

Ministry of Petroleum clarification

Apropos a news item "Petroleum Ministry has set the cat among the pigeons" carried by Business Recorder on Thursday, the Ministry of Petroleum has said that the matter was misreported. It said the impression created in the news item is not well fou
Published 04 Apr, 2008 12:00am
Indonesian coffee exports seen up

Indonesian coffee exports seen up

Indonesian coffee exports may grow about 8 percent to 325,000 tonnes this year as rising prices push up output by encouraging farmers to take better care of their crop, a senior industry official said on Thursday.
Published 04 Apr, 2008 12:00am
Ministry of Petroleum clarification

Ministry of Petroleum clarification

Apropos a news item "Petroleum Ministry has set the cat among the pigeons" carried by Business Recorder on Thursday, the Ministry of Petroleum has said that the matter was misreported. It said the impression created in the news item is not well fou
Published 04 Apr, 2008 12:00am
Indonesia to announce new rice export policy

Indonesia to announce new rice export policy

Indonesia plans to announce a new policy soon to control rice exports and secure domestic stocks, amid soaring prices for the grain, a senior trade ministry official said on Thursday. Rising global rice prices have fuelled concern of unchecked exports of
Published 04 Apr, 2008 12:00am
July-March revenue collection up 13.7 percent

July-March revenue collection up 13.7 percent

The Federal Board of Revenue (FBR) has collected Rs 678.912 billion during first nine months (July-March) of fiscal 2007-2008 against Rs 597 billion in the corresponding period last fiscal, showing a growth of 13.7 percent.
Published 04 Apr, 2008 12:00am
Oil cake market rates

Oil cake market rates

Firmness was seen on the forward cottonseed oilcake market on Thursday as several buyers indulged in the fresh purchasing, dealers said. The May vaida opened at Rs 764.00 proving days best and closing was seen at the same rate, in the meantime, it shed Rs
Published 04 Apr, 2008 12:00am
July-March revenue collection up 13.7 percent

July-March revenue collection up 13.7 percent

The Federal Board of Revenue (FBR) has collected Rs 678.912 billion during first nine months (July-March) of fiscal 2007-2008 against Rs 597 billion in the corresponding period last fiscal, showing a growth of 13.7 percent.
Published 04 Apr, 2008 12:00am
Cautious trade seen on cotton market

Cautious trade seen on cotton market

Cautious attitude was observed by the mills on the cotton market on Thursday as most of them were on the sidelines amid expectations that the total crop size is nearly 11.6 million bales finally, which is now expected on Friday, dealers said.
Published 04 Apr, 2008 12:00am
July-March revenue collection up 13.7 percent

July-March revenue collection up 13.7 percent

The Federal Board of Revenue (FBR) has collected Rs 678.912 billion during first nine months (July-March) of fiscal 2007-2008 against Rs 597 billion in the corresponding period last fiscal, showing a growth of 13.7 percent.
Published 04 Apr, 2008 12:00am
Regular trading on cotton market

Regular trading on cotton market

Ready cotton market gave routine appearance with few ups and downs since the past several weeks. Generally, cotton changes hands in a regular manner because most of the variables in our fibre and textile situation have already been factored into our cotto
Published 04 Apr, 2008 12:00am
BRIndex30 gains 81.55 points

BRIndex30 gains 81.55 points

On Thursday, BRIndex30 opened in the positive zone at 16,956.89 with an upward jump of 104.87 points and remained there for whole of the trading time. It closed at 16,933.57 with a net positive change of 81.55 points and percentage change of 0.48. It reco
Published 04 Apr, 2008 12:00am
Regular trading on cotton market

Regular trading on cotton market

Ready cotton market gave routine appearance with few ups and downs since the past several weeks. Generally, cotton changes hands in a regular manner because most of the variables in our fibre and textile situation have already been factored into our cotto
Published 04 Apr, 2008 12:00am
BRIndex30 gains 81.55 points

BRIndex30 gains 81.55 points

On Thursday, BRIndex30 opened in the positive zone at 16,956.89 with an upward jump of 104.87 points and remained there for whole of the trading time. It closed at 16,933.57 with a net positive change of 81.55 points and percentage change of 0.48. It reco
Published 04 Apr, 2008 12:00am
MGE wheat up

MGE wheat up

Wheat futures on the Chicago Board of Trade were higher early on Wednesday in a technical rebound following a week-long sell-off and signs of fresh export interest, traders said. As of 9:35 am CDT (1435 GMT), CBOT May wheat was up 15 cents at $9.10 per bu
Published 04 Apr, 2008 12:00am
KSE index touches another high

KSE index touches another high

The Karachi share market continued its upward trend setting new records as the KSE-100 index hit 15,401.81 points intra-day high level for the first time in its history on Thursday. Although it could not sustain that level due to profit taking but closed
Published 04 Apr, 2008 12:00am
New York coffee ends quiet session lower

New York coffee ends quiet session lower

ICE arabica coffee futures settled quietly lower on Wednesday on two-sided interest by short-term speculators as the market sought direction in sideways dealings, traders said. "(They are) not necessarily day traders but people who will buy it today and s
Published 04 Apr, 2008 12:00am
KSE index touches another high

KSE index touches another high

The Karachi share market continued its upward trend setting new records as the KSE-100 index hit 15,401.81 points intra-day high level for the first time in its history on Thursday. Although it could not sustain that level due to profit taking but closed
Published 04 Apr, 2008 12:00am
New York cocoa settles at two-month low

New York cocoa settles at two-month low

US cocoa futures settled at a 2-month low on Wednesday after new short positions entered the market and triggered sell-stops, dealers said. "It's new shorts mainly, lack of industry bids," one cocoa trader said. The key ICE May cocoa contract settled down
Published 04 Apr, 2008 12:00am
KSE index touches another high

KSE index touches another high

The Karachi share market continued its upward trend setting new records as the KSE-100 index hit 15,401.81 points intra-day high level for the first time in its history on Thursday. Although it could not sustain that level due to profit taking but closed
Published 04 Apr, 2008 12:00am
Volatile prices test US farmers' risk strategies

Volatile prices test US farmers' risk strategies

US farmers are finding that traditional practices for hedging their risks related to crop prices are not working as well this year due to the fast-moving futures market. "The volatility is just unbelievable," said Bob Dickey, a farmer in Laurel, Nebraska.
Published 04 Apr, 2008 12:00am
Shanghai copper rises

Shanghai copper rises

Shanghai copper futures rose for the second consecutive day on Thursday, following London futures higher on increased hopes that the US economic outlook will improve. But Shanghai Futures Exchange copper lagged on Wednesday's London Metal Exchange increas
Published 04 Apr, 2008 12:00am
US copper gains

US copper gains

US copper futures at the New York Mercantile Exchange's Comex division edged higher on Wednesday on the back of better-than-expected US economic data. Active may copper rose 1.95 cents to $3.8260 a lb by 10:02 am EDT (1402 GMT). Range from $3.7665 to $3.8
Published 04 Apr, 2008 12:00am
US gold climbs

US gold climbs

New York gold futures ended sharply higher on Wednesday as crude rallied and after Federal Reserve Chairman Ben Bernanke said the US economy could face a mild recession.
Published 04 Apr, 2008 12:00am
Delhi indecisive on removal of non-tariff barriers

Delhi indecisive on removal of non-tariff barriers

New Delhi is yet to honour its commitment regarding removal of non-tariff barriers to facilitate trade of 25 Pakistani items even after passage of about 9 months, official sources told Business Recorder, here on Thursday.
Published 04 Apr, 2008 12:00am
Gold holds above $900

Gold holds above $900

Gold extended gains on Thursday and held above $900 but investors may be careful about buying too heavily ahead of this week's US employment report, which may determine the metal's direction.
Published 04 Apr, 2008 12:00am
Delhi indecisive on removal of non-tariff barriers

Delhi indecisive on removal of non-tariff barriers

New Delhi is yet to honour its commitment regarding removal of non-tariff barriers to facilitate trade of 25 Pakistani items even after passage of about 9 months, official sources told Business Recorder, here on Thursday.
Published 04 Apr, 2008 12:00am
New York sugar higher

New York sugar higher

Raw sugar futures bounded to a higher close on Wednesday as late investor short covering powered an advance as the market recovered from a recent sell-off in the commodity sector, brokers said. The ICE Futures May electronic sugar contract rose 0.25 cent
Published 04 Apr, 2008 12:00am
Delhi indecisive on removal of non-tariff barriers

Delhi indecisive on removal of non-tariff barriers

New Delhi is yet to honour its commitment regarding removal of non-tariff barriers to facilitate trade of 25 Pakistani items even after passage of about 9 months, official sources told Business Recorder, here on Thursday.
Published 04 Apr, 2008 12:00am
Oil pauses after near $4 surge on US fuel stocks

Oil pauses after near $4 surge on US fuel stocks

Oil steadied near $105 a barrel on Thursday, after surging almost $4 in the previous session on US government data showing a sharp drawdown in refined fuel stocks. US crude fell 18 cents to $104.65 a barrel, while London Brent crude was down 16 cents at $
Published 04 Apr, 2008 12:00am
Dar for plugging gaps in potential revenue sectors

Dar for plugging gaps in potential revenue sectors

Emphasising on pro-poor budget with more tax on wealthy people from fiscal (2008-2009), the Federal Minister on Finance Ishaq Dar has directed the Federal Board of Revenue (FBR) to explore new avenues for reducing tax collection gaps in sectors with the s
Published 04 Apr, 2008 12:00am
Global wheat prices to fall in 2008 but supported: UN

Global wheat prices to fall in 2008 but supported: UN

Global wheat prices will probably fall from record levels this year as production expands, but depleted global stocks will lend some strength, a UN grain economist said on Wednesday.
Published 04 Apr, 2008 12:00am
Dar for plugging gaps in potential revenue sectors

Dar for plugging gaps in potential revenue sectors

Emphasising on pro-poor budget with more tax on wealthy people from fiscal (2008-2009), the Federal Minister on Finance Ishaq Dar has directed the Federal Board of Revenue (FBR) to explore new avenues for reducing tax collection gaps in sectors with the s
Published 04 Apr, 2008 12:00am
Soyabean futures soar

Soyabean futures soar

Soyabean futures on the Chicago Board of Trade surged on Wednesday as prospects for increased export interest spurred a rebound from the previous day's sell-off, traders said. Spot month bounced after hitting a two-month low on Monday on bearish USDA US s
Published 04 Apr, 2008 12:00am
Dar for plugging gaps in potential revenue sectors

Dar for plugging gaps in potential revenue sectors

Emphasising on pro-poor budget with more tax on wealthy people from fiscal (2008-2009), the Federal Minister on Finance Ishaq Dar has directed the Federal Board of Revenue (FBR) to explore new avenues for reducing tax collection gaps in sectors with the s
Published 04 Apr, 2008 12:00am
Malaysian palm oil rebounds

Malaysian palm oil rebounds

Malaysian crude palm oil futures jumped by 4.4 percent on Thursday, boosted by strengthening soyabean oil prices and prospects of strong demand from India after New Delhi scrapped edible oil import tariffs. Palm oil, used as a cooking oil and in products
Published 04 Apr, 2008 12:00am
Switzerland resumes arms exports

Switzerland resumes arms exports

The Swiss government on Thursday reauthorised arms exports to Pakistan, saying it saw 'positive' political developments in the country. The Federal Council said in a statement that it had given the green light to Swiss company Oerlikon Contraves to delive
Published 04 Apr, 2008 12:00am
Rice stocks adequate: Malaysia

Rice stocks adequate: Malaysia

Malaysia's state rice monopoly has assured the government there is adequate supply of rice to meet demand, Farm Minister Mustapa Mohamed said on Thursday. "Bernas has assured the ministry that there is no supply problem," Mustapa was quoted as saying by s
Published 04 Apr, 2008 12:00am
Switzerland resumes arms exports

Switzerland resumes arms exports

The Swiss government on Thursday reauthorised arms exports to Pakistan, saying it saw 'positive' political developments in the country. The Federal Council said in a statement that it had given the green light to Swiss company Oerlikon Contraves to delive
Published 04 Apr, 2008 12:00am
Malaysian tin

Malaysian tin

Malaysian tin rose $1 on Thursday on firm price of the metal on the London Metal Exchange and strong overseas buying, one dealer said.
Published 04 Apr, 2008 12:00am
Saab 2000 aircraft rolls out

Saab 2000 aircraft rolls out

Pakistan Air Force achieved a major landmark in its Airborne Early Warning and Control (AEWC) Programme with the roll out of its first aircraft - SAAB 2000 AEWC - at a ceremony held at the Saab facility in Sweden. Air Chief Marshal Tanvir Mahmood Ahmed, C
Published 04 Apr, 2008 12:00am
Indonesia palm oil follows Malaysia higher

Indonesia palm oil follows Malaysia higher

Indonesian palm oil prices edged higher on Thursday, tracking gains by Malaysian crude palm oil futures, but trading remain thin as buyers remained wary of recent market turbulence. The state marketing centre in Jakarta sold crude palm oils at 8,338 rupia
Published 04 Apr, 2008 12:00am
Saab 2000 aircraft rolls out

Saab 2000 aircraft rolls out

Pakistan Air Force achieved a major landmark in its Airborne Early Warning and Control (AEWC) Programme with the roll out of its first aircraft - SAAB 2000 AEWC - at a ceremony held at the Saab facility in Sweden. Air Chief Marshal Tanvir Mahmood Ahmed, C
Published 04 Apr, 2008 12:00am
US rice futures climb 50-cent limit in nearbys

US rice futures climb 50-cent limit in nearbys

US rough rice futures on the Chicago Board of Trade rallied their 50-cent limit in the nearby contracts on Wednesday, buoyed by strong global demand, traders said. May rice shot up its 50-cent limit to $19.79 per hundredweight. July rice rose 50 cents to
Published 04 Apr, 2008 12:00am
20 killed in Suriname plane crash

20 killed in Suriname plane crash

At least 20 people were killed Thursday when a plane on a domestic flight in the former Dutch colony of Suriname crashed, airport officials said.
Published 04 Apr, 2008 12:00am
Global warming may lead to 20 percent decline in growth rate

Global warming may lead to 20 percent decline in growth rate

Global warming could lead to a 20 percent decline in the world economic growth rate over the coming few years concurred a number of leading research centres concerned with the ecological impacts associated with increased energy consumption.
Published 04 Apr, 2008 12:00am
Bangladesh former minister sentenced to 10 years

Bangladesh former minister sentenced to 10 years

A former communications minister in Bangladesh who is in jail on bribery charges was sentenced to a further 10 years Thursday after being found guilty of amassing more than a million dollars illegally, a state prosecutor said.
Published 04 Apr, 2008 12:00am
Syria signs oil refinery deal with China

Syria signs oil refinery deal with China

China has signed a deal with Syria to build an oil refinery in the Arab country as part of plans to bolster cooperation in the oil and gas industry, the official SANA news agency reported on Thursday.
Published 04 Apr, 2008 12:00am
US regulators defend Bear Stearns rescue

US regulators defend Bear Stearns rescue

Bear Stearns could not be allowed to collapse because it would have shattered confidence in financial markets and caused lasting damage to the economy, top government regulators said on Thursday in defending the rescue of the fifth-largest US investment b
Published 04 Apr, 2008 12:00am
US Senate leaders reach compromise on housing bill

US Senate leaders reach compromise on housing bill

US Senate leaders on Wednesday crafted a compromise bill to offer billions of dollars in refinancing and other help to homeowners and communities hit by the crisis in the housing markets. The accord was reached only after a controversial measure on bankru
Published 04 Apr, 2008 12:00am
Pakistan and India agree to resume composite dialogue

Pakistan and India agree to resume composite dialogue

Pakistan and India have agreed to resume composite dialogue at an early date. A statement issued by Spokesman of Indian External Affairs Ministry here on Thursday said External Affairs Minister, Pranab Mukherjee had congratulated Pakistan Foreign Minister
Published 04 Apr, 2008 12:00am
Service sector shrinks

Service sector shrinks

The US service sector contracted for the third consecutive month in March, according to a report released on Thursday, though the rate of retrenchment was less severe than economists had expected. The Institute for Supply Management's non-manufacturing in
Published 04 Apr, 2008 12:00am
Pakistan and India agree to resume composite dialogue

Pakistan and India agree to resume composite dialogue

Pakistan and India have agreed to resume composite dialogue at an early date. A statement issued by Spokesman of Indian External Affairs Ministry here on Thursday said External Affairs Minister, Pranab Mukherjee had congratulated Pakistan Foreign Minister
Published 04 Apr, 2008 12:00am
US jobless claims jump to highest since 2005

US jobless claims jump to highest since 2005

The number of US workers applying for unemployment benefits soared by 38,000 last week, posting the highest reading since September 2005 and reinforcing fears that the US economy has stalled, government data on Thursday showed.
Published 04 Apr, 2008 12:00am
Musharraf to visit China on April 10

Musharraf to visit China on April 10

President Pervez Musharraf will pay a state visit to China starting from next week, the foreign office spokeswoman announced here on Thursday. The Chinese President Hu Jintao has invited President Musharraf to visit China.
Published 04 Apr, 2008 12:00am
Boeing flies hydrogen-cell plane

Boeing flies hydrogen-cell plane

US aircraft giant claimed Thursday a world first in putting into the air a plane powered by a hydrogen-cell battery, a breakthrough that could herald a greener future for the industry. "For the first time in the history of aviation, Boeing has flown a man
Published 04 Apr, 2008 12:00am
Musharraf to visit China on April 10

Musharraf to visit China on April 10

President Pervez Musharraf will pay a state visit to China starting from next week, the foreign office spokeswoman announced here on Thursday. The Chinese President Hu Jintao has invited President Musharraf to visit China.
Published 04 Apr, 2008 12:00am
Doha ministerial talks may happen in May: Lamy

Doha ministerial talks may happen in May: Lamy

A long-awaited meeting of ministers to agree on the outlines of a new global trade deal is likely to take place by the end of May, the head of the World Trade Organisation (WTO) said on Thursday.
Published 04 Apr, 2008 12:00am
Nato seeks deeper ties with Pakistan

Nato seeks deeper ties with Pakistan

Nato leaders said on Thursday they wanted to deepen ties with Pakistan and strive to boost security along its porous border with Afghanistan. In a document laying out their "strategic vision" for Afghanistan's future, the leaders said that the conflict-to
Published 04 Apr, 2008 12:00am
China market reforms to continue: Paulson

China market reforms to continue: Paulson

China is too far down the road toward a market economy to turn back from reforms now, even if US financial market turmoil is causing it some qualms, US Treasury Secretary Henry Paulson said on Thursday.
Published 04 Apr, 2008 12:00am
Nato seeks deeper ties with Pakistan

Nato seeks deeper ties with Pakistan

Nato leaders said on Thursday they wanted to deepen ties with Pakistan and strive to boost security along its porous border with Afghanistan. In a document laying out their "strategic vision" for Afghanistan's future, the leaders said that the conflict-to
Published 04 Apr, 2008 12:00am
IMF must take lead to save global economy: bankers

IMF must take lead to save global economy: bankers

The world economy faces grave risks and its leaders must put aside national interests to take firm, co-ordinated steps to restore confidence and support growth, a powerful bank lobby group said on Thursday.
Published 04 Apr, 2008 12:00am
Sony unveils high-definition video camera

Sony unveils high-definition video camera

Sony Corp unveiled on Thursday a video camera as small as a juice box, saying it was the world's smallest and lightest high-definition camcorder. The tiny camera, to go on sale in Japan this month, weighs just 300 grams (10.6 ounces) and measures 32 mm x
Published 04 Apr, 2008 12:00am
Eurozone retail sales unexpectedly contract

Eurozone retail sales unexpectedly contract

Eurozone retail sales turned out much weaker than expected in February, contracting on the back of falls in Germany and Spain and reinforcing concerns about the outlook for economic growth.
Published 04 Apr, 2008 12:00am
US economy at 'virtual standstill': IMF economist

US economy at 'virtual standstill': IMF economist

The US economy has come to "a virtual standstill" and will remain weak in coming quarters due to deeper problems in housing and credit markets, the International Monetary Fund's chief economist said on Thursday, but avoided calling it a recession.
Published 04 Apr, 2008 12:00am
ATA Airlines files for bankruptcy, halts service

ATA Airlines files for bankruptcy, halts service

Low-cost US carrier ATA Airlines said Thursday it had filed for bankruptcy protection and discontinued all operations, saying it had been squeezed by record fuel costs. The carrier based in Indianapolis, Indiana, said its 2,230 employees were laid off as
Published 04 Apr, 2008 12:00am
Mozambique signs $8 billion oil refinery deal

Mozambique signs $8 billion oil refinery deal

Mozambique's government has approved the construction of an oil refinery in an $8 billion deal designed to reduce the energy-hungry southern African nation's dependency on imported fuels.
Published 04 Apr, 2008 12:00am
China airline pilots to be punished for rare industrial action: report

China airline pilots to be punished for rare industrial action: report

China's aviation watchdog has vowed to punish pilots engaged in rare industrial action that allegedly included refusing to land planes, state press said Wednesday. In a meeting on Tuesday, the Civil Aviation Administration of China vowed to strip pilots o
Published 04 Apr, 2008 12:00am
Australian firm wins Indian coal mine contract

Australian firm wins Indian coal mine contract

Australia's leading construction and contract mining group Leighton Holdings Ltd said Thursday its Thiess unit had won two contracts worth 1.0 billion dollars (913.7 million US) to develop and operate a coal mine in India's north-eastern coal fields.
Published 04 Apr, 2008 12:00am
UAE firm buys into Shell's Algerian operations

UAE firm buys into Shell's Algerian operations

Abu Dhabi's state investment arm Mubadala said on Tuesday its energy unit has bought 20 percent of Royal Dutch Shell's stake in production and exploration projects in Algeria. "Liwa Energy ... bought a 20 percent stake in the projects carried out by Shell
Published 04 Apr, 2008 12:00am
S&P revises outlook on Turkey to negative from stable

S&P revises outlook on Turkey to negative from stable

Standard & Poor's on Thursday revised its outlook on Turkey's credit ratings to negative from stable due to what it said are rising risks the country faces in the political and global environment in the near term.
Published 04 Apr, 2008 12:00am
WestLB seeks partner as credit crisis problems linger

WestLB seeks partner as credit crisis problems linger

Stricken German bank WestLB said on Wednesday it was looking for a partner after problems stemming from credit markets turmoil forced its owners to step in with a 5 billion euro ($7.8 billion) rescue. WestLB had already been struggling with an expensive t
Published 04 Apr, 2008 12:00am
German taxpayers called to the rescue of subprime-hit public banks

German taxpayers called to the rescue of subprime-hit public banks

Will German taxpayers foot the bill for bank errors? Such fears are rising after another public institution unveiled a bail-out from problems brought on by the international financial crisis. BayernLB, Germany's second-biggest regional bank, joined the li
Published 04 Apr, 2008 12:00am
Toshiba in talks on lucrative US nuclear plant deals

Toshiba in talks on lucrative US nuclear plant deals

Japan's Toshiba Corp said Thursday it is in talks with US firms on securing nuclear power plant contracts, as a report said it was set to clinch the 13.7-billion-dollar deals. "It is true that our subsidiary Westinghouse is holding negotiations with the a
Published 04 Apr, 2008 12:00am
Scuffles close Nike Vietnam factory after strike

Scuffles close Nike Vietnam factory after strike

A factory that makes shoes for Nike in Vietnam has been shut after scuffles broke out at the end of a two-day strike over salary grievances, officials and the US sportswear giant said Thursday.
Published 04 Apr, 2008 12:00am
Taiwan probes alleged kickbacks in CAL-Airbus deal

Taiwan probes alleged kickbacks in CAL-Airbus deal

Taiwanese authorities are investigating alleged kickbacks and other irregularities involving a multi-billion-dollar deal between local carrier China Airlines (CAL) and Airbus, officials said Thursday.
Published 04 Apr, 2008 12:00am
Motorola to shut Singapore mobile phone plant

Motorola to shut Singapore mobile phone plant

Struggling US telecom giant Motorola will close its mobile phone manufacturing plant in Singapore as part of the company's 500-million US dollar global cost cutting exercise, it said Thursday. Motorola said the move, which will affect 700 employees, is ai
Published 04 Apr, 2008 12:00am
Seoul shares at fresh 11-week closing high

Seoul shares at fresh 11-week closing high

Seoul stocks advanced again on Thursday, setting a fresh 11-week closing high, boosted by steelmakers after POSCO said it was considering raising steel prices and bidding for a shipbuilder.
Published 04 Apr, 2008 12:00am
Hong Kong stocks finish at five-week high

Hong Kong stocks finish at five-week high

Hong Kong stocks rose to a five-week closing high on Thursday after an upbeat US jobs indicator calmed worries sparked by Federal Reserve Chairman Ben Bernanke's warning that the US economy may slip into recession.
Published 04 Apr, 2008 12:00am
US stocks decline after Bernanke comment

US stocks decline after Bernanke comment

US stocks declined on Wednesday after Federal Reserve Chairman Ben Bernanke said a recession was possible, spurring profit-taking a day after the market's biggest rally in two weeks. General Electric and IBM, which are sensitive to the economic outlook, w
Published 04 Apr, 2008 12:00am
China shares jump

China shares jump

Chinese stocks rose on Thursday as several blue chips including Ping An Insurance continued rebounding from near the prices of their Hong Kong-listed H shares, which some investors consider support. But thin turnover showed investors remained very uncerta
Published 04 Apr, 2008 12:00am
Singapore shares soar

Singapore shares soar

Singapore share prices closed 1.50 percent higher on Thursday on investor interest in select blue chips, dealers said. They said the market seemed to shrug off a warning from US Federal Reserve chairman Ben Bernanke that the US economy could slide into a
Published 04 Apr, 2008 12:00am
Thai share prices rally

Thai share prices rally

Thai share prices closed 0.12 percent higher on Thursday amid narrow trade as investors remained optimistic of an economic recovery in the United States, dealers said. They said the bourse followed the regional upward trend, despite investors taking profi
Published 04 Apr, 2008 12:00am
Nikkei climbs to one-month high

Nikkei climbs to one-month high

Japan's Nikkei average rose 1.5 percent to a one-month high on Thursday as financial firms extended gains, but energy was limited by wariness ahead of US jobs data and earnings from major Japanese firms next week.
Published 04 Apr, 2008 12:00am
Malaysian shares fall 1.1 percent

Malaysian shares fall 1.1 percent

Malaysian share prices closed 1.1 percent lower on Thursday amid political uncertainties, with construction and palm oil stocks leading the fall, dealers said. "Increased political bickering in the largest party of the ruling coalition does not augur well
Published 04 Apr, 2008 12:00am
Indian shares up

Indian shares up

Indian share prices rose 0.52 percent on Thursday shedding morning gains after European markets opened weak led by Wall Street losses overnight, dealers said. They said sentiment however continued to be weighed down by local inflation concerns.
Published 04 Apr, 2008 12:00am
Jakarta shares slip 4.5 percent

Jakarta shares slip 4.5 percent

Indonesian share prices closed 4.5 percent lower on Thursday with trading dominated by fears rising inflation could weaken consumer buying and squeeze company profits, dealers said. The Jakarta Composite Index closed down 104.22 points at 2,237.97, its lo
Published 04 Apr, 2008 12:00am
Yuan ends higher

Yuan ends higher

The yuan ended modestly stronger against the dollar but traded within a relatively thin band on Thursday as the central bank guided it higher and US Treasury Secretary Henry Paulson told Beijing that a stronger yuan would benefit China.
Published 04 Apr, 2008 12:00am
Dollar versus yen and euro

Dollar versus yen and euro

The dollar hit a three-week high versus the yen and rose against the euro on Thursday as buying from hedge funds and investors at the start of Japan's fiscal year offset gloomy remarks by Federal Reserve Chairman Ben Bernanke.
Published 04 Apr, 2008 12:00am
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