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Apr 11, 2025 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2008-07-10
Hong Kong shares recover 2.8 percent

Hong Kong shares recover 2.8 percent

Hong Kong shares rebounded 2.8 percent on Wednesday, recovering from the previous session's steep fall, after the US Fed said it may keep open a lifeline for Wall Street banks battered by the credit crisis.
Published 10 Jul, 2008 12:00am
Parliament main hurdle in reinstatement of judges: Aitzaz

Parliament main hurdle in reinstatement of judges: Aitzaz

Supreme Court Bar Association (SCBA) President Aitzaz Ahsan has said parliament is the main hurdle in reinstatement of the deposed judges, and added that under Boharban accord Asif Ali Zardari and Nawaz Sharif are also responsible. He told reporters on We
Published 10 Jul, 2008 12:00am
Government fails to convince lawyers to defer rally

Government fails to convince lawyers to defer rally

The government on Wednesday failed to convince the legal fraternity to postpone their rally for the restoration of deposed judges, scheduled for July 10 (Thursday) at the Constitution Avenue.
Published 10 Jul, 2008 12:00am
Major chambers back FCCI's call for strike on July 11

Major chambers back FCCI's call for strike on July 11

Ten major chambers of commerce and industry in the country and several industrial associations have backed a call for a strike by Faisalabad Chamber of Commerce and Industry planning on July 11 and also decided to form an action committee to talk afresh w
Published 10 Jul, 2008 12:00am
Askari Investment declares dividend

Askari Investment declares dividend

The Askari Investment Management Limited (AIM) has declared a dividend of Rs 9.026 per unit for the year ending June 30, 2008 for Askari Income Fund.
Published 10 Jul, 2008 12:00am
Askari Investment declares dividend

Askari Investment declares dividend

The Askari Investment Management Limited (AIM) has declared a dividend of Rs 9.026 per unit for the year ending June 30, 2008 for Askari Income Fund.
Published 10 Jul, 2008 12:00am
Back to forex controls

Back to forex controls

The State Bank of Pakistan, late on Monday evening, announced a series of administrative measures to stabilise the rupee-dollar parity. The withdrawal of 35 percent cash margin on non-essential imports - commenced the rupee slide, with banks rushing to th
Published 10 Jul, 2008 12:00am
The first 100 days

The first 100 days

That the first 100 days of the new government have proved particularly lethal for the economy can no longer be denied. Supporters of the government would point out, with a great deal of credibility, that a hundred days coming in the wake of flawed policie
Published 10 Jul, 2008 12:00am
Basel II and internal audit

Basel II and internal audit

The Basel Committee on Banking Supervision's paper on Internal Audit in banking organisations sets out twenty principles that (a) identify the internal audit function as a valuable source of on-going information for senior management; (b) define the relat
Published 10 Jul, 2008 12:00am
Would-be bankers set for bruising ride

Would-be bankers set for bruising ride

Before they even start working 80-hour weeks, graduates sense tougher times in investment banking, and either by choice or necessity, some are already planning careers elsewhere.
Published 10 Jul, 2008 12:00am
The coalition partners and lethargy in governance

The coalition partners and lethargy in governance

For a long time, PML was the only major party at a national level. It was bruised now and again by splinter groups but never faced a serious threat from another party. Then in the late 1960s, PPP surfaced and instead of adopting two-party politics in the
Published 10 Jul, 2008 12:00am
Official caught red-handed while taking bribe

Official caught red-handed while taking bribe

Anti-corruption police have arrested irrigation official on charge of taking bribe here on Wednesday. According to official sources, on a tip-off, Anti-corruption squad conducted a raid and caught red-handed deputy collector irrigation Mehmood while recei
Published 10 Jul, 2008 12:00am
Pakistan could tighten more to fight inflation

Pakistan could tighten more to fight inflation

Pakistan is ready to tighten monetary policy further to fight inflation, a senior finance official said on Wednesday, stressing the authorities' commitment to getting inflation down from a three-decade high above 19 percent.
Published 10 Jul, 2008 12:00am
Lawyers divided on lockout issue

Lawyers divided on lockout issue

Lawyers of Southern Punjab have divided into two factions, one of them showed their reservations on the issue of locking the courtrooms until the restoration of the sacked judges. They should not take the law in their hands.
Published 10 Jul, 2008 12:00am
Kashmiris to observe martyrs day on July 13

Kashmiris to observe martyrs day on July 13

Kashmiris dwelling on either side of the line of control and rest of the world will observe the 77th Kashmir Martyrs Day on July 13 with a renewed pledge to continue, with full vigour, their ongoing liberation movement for the achievement of their birthri
Published 10 Jul, 2008 12:00am
Two Kashmiris martyred in fresh operation

Two Kashmiris martyred in fresh operation

In occupied Kashmir, Indian troops, in their fresh act of state terrorism, martyred two innocent Kashmiri youth in Kupwara district. Personnel of 28-Rashtriya Rifles during violent military operation killed the youth at Sumriyal in Lolab area of the distr
Published 10 Jul, 2008 12:00am
Qureshi arrives in New York

Qureshi arrives in New York

Foreign Minister Shah Mahmood Qureshi flew into New York late Tuesday night for consultations at the United Nations in pursuit of Pakistan's request for UN investigation into the assassination of Benazir Bhutto.
Published 10 Jul, 2008 12:00am
US MIDDAY: gold firms

US MIDDAY: gold firms

US gold moved up in early on Wednesday business as news that Iran test-fired nine missiles boosted oil prices and gave the yellow metal a safe-haven bid, traders said. August futures rose $4.0 to $927.30 an ounce on the COMEX division of New York Mercanti
Published 10 Jul, 2008 12:00am
US MIDDAY: copper plunges

US MIDDAY: copper plunges

US copper futures ran into additional liquidation pressures at the open on Wednesday as the market extended its retreat from last week's spike above $4 a lb, traders said. Copper for September delivery was trading down 2.15 cents at $3.6750 a lb by 10:33
Published 10 Jul, 2008 12:00am
US MIDDAY: corn up, soya rebounds

US MIDDAY: corn up, soya rebounds

Corn futures on the Chicago Board of Trade were lower early on Wednesday on mostly favourable US crop weather, while soyabeans were higher in a technical bounce after this week's slide, traders said. Soya products, including soyameal and soyaoil, were hig
Published 10 Jul, 2008 12:00am
US MIDDAY: wheat lower

US MIDDAY: wheat lower

Wheat futures on the Chicago Board of Trade, the Kansas City Board of Trade and the Minneapolis Grain Exchange were lower early on Wednesday on US harvest pressure and spillover weakness from corn, traders said. As of 9:43 am CDT (1443 GMT), CBOT Septembe
Published 10 Jul, 2008 12:00am
US MIDDAY: coffee, cocoa slip

US MIDDAY: coffee, cocoa slip

Arabica coffee futures continued lower in early trade Wednesday, on continued long liquidation, while US cocoa futures were down in sideways dealings following the recent drop from 28-year highs. ICE Futures US September arabica contract down 1.35 cents a
Published 10 Jul, 2008 12:00am
Gold firms in Europe

Gold firms in Europe

Gold firmed in Europe on Wednesday as reports Iran had test-fired missiles lifted oil prices and prompted buying of bullion as a safe haven. Gold rose to $923.70/924.70 at 1507 GMT from $921.35/922.55 an ounce late in New York on Tuesday, when the preciou
Published 10 Jul, 2008 12:00am
London sugar rises

London sugar rises

London white sugar futures rallied on Wednesday to catch up with a late rally in New York raw sugar futures, while cocoa eased on profit-taking and robusta coffee consolidated in a narrow range. A weaker dollar and stronger oil prices also supported the s
Published 10 Jul, 2008 12:00am
World oil pulls out of nose-dive as US supplies drop

World oil pulls out of nose-dive as US supplies drop

Oil pulled out of a steep two-day slide to gain a penny on Wednesday after a US government report showed a big drawdown in nation-wide crude inventories and Opec-member Iran conducted missile tests in a move that raised tensions with the West.
Published 10 Jul, 2008 12:00am
Lead, zinc rally

Lead, zinc rally

Lead jumped 10.4 percent on Wednesday on signs London Metal Exchange stocks started to level off and zinc rallied 6.6 percent as investors covered their short positions, traders said. Aluminium turned higher at the close, but it was still down from a reco
Published 10 Jul, 2008 12:00am
Shanghai aluminium falls

Shanghai aluminium falls

Shanghai aluminium fell 1.4 percent on Wednesday after a near-5 percent fall in London Metal Exchange prices overnight, with large stocks and easing oil prices outweighing worries about power problems in China. The Shanghai Futures Exchange September cont
Published 10 Jul, 2008 12:00am
New York cotton settles firmer

New York cotton settles firmer

Cotton futures finished firmer on Wednesday on trade and suspected mill buying as the severe selling spree in the market appears to have run its course for now, brokers said. The key December cotton contract rose 1.76 cents to finish at 73.50 cents per lb
Published 10 Jul, 2008 12:00am
Indian sugar futures ease

Indian sugar futures ease

Indian sugar futures eased on Wednesday afternoon as a slight drop in physical prices sparked some selling, trimming some of the solid gains made so far in July. At 4:32 p.m. (1102 GMT), the July contract on the National Commodity and Derivatives Exchange
Published 10 Jul, 2008 12:00am
FTSE jumps as banks and miners lead bounce

FTSE jumps as banks and miners lead bounce

Britain's blue chip index ended 1.6 percent higher on Wednesday as beaten-down banking stocks rebounded, while firmer metal prices buoyed miners. The FTSE 100 rose 89.1 points to 5,529.6 after falling 1.3 percent in the previous session, and is down 14.3
Published 10 Jul, 2008 12:00am
Asian bond spreads tighten

Asian bond spreads tighten

Asian debt spreads tightened significantly on Wednesday after a drop in oil prices eased inflation concerns, while credit crisis fears were allayed after the Federal Reserve said it may keep open a lifeline for banks. The iTRAXX Asia ex-Japan high-yield i
Published 10 Jul, 2008 12:00am
Asian bond spreads tighten

Asian bond spreads tighten

Asian debt spreads tightened significantly on Wednesday after a drop in oil prices eased inflation concerns, while credit crisis fears were allayed after the Federal Reserve said it may keep open a lifeline for banks. The iTRAXX Asia ex-Japan high-yield i
Published 10 Jul, 2008 12:00am
US Stocks: Wednesday's early afternoon trade

US Stocks: Wednesday's early afternoon trade

US stocks fell on Wednesday as rising oil prices renewed concerns about the impact of higher energy costs on consumer spending, while a sharp drop in Cisco Systems Inc shares sent the Nasdaq nearly 1 percent lower. The gain in oil, after falling about 7 p
Published 10 Jul, 2008 12:00am
China shares surge

China shares surge

China's main stock index surged nearly 4 percent, led by financials and property shares, and turnover hit a seven-week high on Wednesday as investors were encouraged by strong overseas stocks and lower global oil prices. The Shanghai Composite Index ended
Published 10 Jul, 2008 12:00am
Credit spread tightening ignites issuance market

Credit spread tightening ignites issuance market

European credit spreads tightened sharply on Wednesday, with the brighter mood spilling over into the primary market with new bond deals from America Honda and Czech utility CEZ. By 1440 GMT, the Markit iTraxx Crossover index, made up of 50 mostly "junk"-
Published 10 Jul, 2008 12:00am
Credit spread tightening ignites issuance market

Credit spread tightening ignites issuance market

European credit spreads tightened sharply on Wednesday, with the brighter mood spilling over into the primary market with new bond deals from America Honda and Czech utility CEZ. By 1440 GMT, the Markit iTraxx Crossover index, made up of 50 mostly "junk"-
Published 10 Jul, 2008 12:00am
Indian rupee rises

Indian rupee rises

The Indian rupee climbed on Wednesday as signs of political stability, a 4.6 percent surge in the share market and lower crude prices offered some respite to worries about fund outflows and a widening trade deficit. The partially convertible rupee ended a
Published 10 Jul, 2008 12:00am
Dollar eases in London

Dollar eases in London

The dollar eased on Wednesday as oil prices rebounded, after geopolitical tensions were pushed back onto investors' radar by news of Iran test-firing missiles and of an armed attack on the US consulate in Turkey. Iran's state media reported Iran had test-
Published 10 Jul, 2008 12:00am
Sterling rises versus dollar

Sterling rises versus dollar

Sterling was pulled up against a broadly weaker dollar on Wednesday, with the US currency pressured by rebounding oil prices as geo-political tensions re-surfaced. The pound was muted against the euro however, with poor UK data continuing to undermine sen
Published 10 Jul, 2008 12:00am
Bush and Singh signal progress on nuclear deal

Bush and Singh signal progress on nuclear deal

US President George W Bush and Indian Prime Minister Manmohan Singh signalled Wednesday that they were making progress on a controversial agreement to sell US nuclear technology to India. "We talked about the India-US nuclear deal, and how important that
Published 10 Jul, 2008 12:00am
China kills five Uighurs planning 'holy war'

China kills five Uighurs planning 'holy war'

Chinese police killed five Muslims who were planning a "holy war" but armed only with knives, state media said Wednesday, in the latest alleged terror threat ahead of the Beijing Olympics.
Published 10 Jul, 2008 12:00am
Marines kill 400 Taliban in Afghan operation

Marines kill 400 Taliban in Afghan operation

US Marines have killed more than 400 Taliban since they began an operation to seize a district in southern Afghanistan in May, their commander said on Wednesday. A fighting force of some 2,200 US Marines deployed to Afghanistan earlier this year to make u
Published 10 Jul, 2008 12:00am
Kuwait to meet Iraq soon on Gulf War reparations

Kuwait to meet Iraq soon on Gulf War reparations

Kuwaiti and Iraqi officials will meet "very soon" to discuss reparations imposed on Baghdad for the invasion and occupation of its smaller neighbour in 1990, Kuwait's state news agency said.
Published 10 Jul, 2008 12:00am
France keeps water ban

France keeps water ban

Residents in southern France were told not to drink water or eat fish from rivers on Wednesday following an uranium leak at a nuclear plant that Germany's junior environment minister said was "not a trivial matter."
Published 10 Jul, 2008 12:00am
Nato signs accession pacts for Albania and Croatia

Nato signs accession pacts for Albania and Croatia

Nato states signed accession protocols for Albania and Croatia on Wednesday, setting them on the path to entry into the Western military pact early next year. The signing, conducted at a ceremony at alliance headquarters in Brussels, was largely a formali
Published 10 Jul, 2008 12:00am
India coalition looks for votes after left exit

India coalition looks for votes after left exit

India's government began on Wednesday the hard task of cobbling together votes to survive a no-confidence motion after the withdrawal of its communist allies in protest against a nuclear deal with the United States.
Published 10 Jul, 2008 12:00am
Water on the Moon? New research boosts hopes

Water on the Moon? New research boosts hopes

The ancient astronomers once deemed the Moon, like Mother Earth, to be awash with water and gave fanciful names to its "seas." The space age, of course, revealed these oceans, or Mare, to be desolate, bone-dry basalt plains -- and ever since, the Moon has
Published 10 Jul, 2008 12:00am
Medvedev offers no change in Russia course

Medvedev offers no change in Russia course

Anyone who placed a bet on Russian President Dmitry Medvedev signalling a softer Kremlin line when he attended this week's Group of Eight summit will have lost their money. The summit was Medvedev's debut at a major international meeting.
Published 10 Jul, 2008 12:00am
US warns Russia as Rice arrives in Georgia

US warns Russia as Rice arrives in Georgia

Secretary of State Condoleezza Rice arrived in Tblisi Wednesday amid urgent US appeals for Russia to reverse a growing military role in a separatist conflict in Georgia that risked sparking all-out war. "Russia has greatly escalated its political and mili
Published 10 Jul, 2008 12:00am
Bombs kill 14 in Iraq, dozens wounded

Bombs kill 14 in Iraq, dozens wounded

Bombs killed at least 14 people and wounded dozens in northern and western Iraq on Wednesday, but the Iraqi military said overall attacks across the country were down 85 percent from a year ago. Two blasts in quick succession in Falluja, in Iraq's western
Published 10 Jul, 2008 12:00am
Six killed at US Istanbul mission

Six killed at US Istanbul mission

Three Turkish policemen and three gunmen were killed in an armed attack on the United States consulate in Istanbul on Wednesday, the city's governor said. Witnesses told Reuters four attackers drove a car up to the high-walled compound situated to the nor
Published 10 Jul, 2008 12:00am
'US ground troops in Iraq done by mid-2009'

'US ground troops in Iraq done by mid-2009'

US ground troops in Iraq will be mostly finished with security operations by the middle of 2009, the senior US Army officer in charge of training Iraqi forces said on Wednesday. "The ground forces will mostly be done by the middle of next year," Army Lieu
Published 10 Jul, 2008 12:00am
Six members of peace mission killed in Darfur

Six members of peace mission killed in Darfur

Up to six members of the joint United Nations and African Union peacekeeping mission in Darfur (UNAMID) have been killed in an attack by suspected Arab militiamen, a UN official said Wednesday.
Published 10 Jul, 2008 12:00am
Bolivia truck crash kills 47 passengers

Bolivia truck crash kills 47 passengers

At least 47 people died Tuesday when a truck fell down a 180-metre ravine near the southern Bolivian city of Potosi, 480 kilometres south of La Paz, Bolivian road police said.
Published 10 Jul, 2008 12:00am
Afghanistan and UN say $404 million needed to feed the poor

Afghanistan and UN say $404 million needed to feed the poor

Afghanistan's government and the United Nations launched a 404-million dollar appeal on Wednesday to help feed 4.5 million vulnerable Afghans. Vice President Mohammad Karim Khalili said rising global food prices combined with poor crop harvests in Afghani
Published 10 Jul, 2008 12:00am
US Army may end Textron helicopter plan

US Army may end Textron helicopter plan

The US Army said Wednesday that it would consider cancelling a $6.2 billion Textron Inc armed helicopter program after notifying Congress that its projected costs had soared more than 40 percent above initial estimates.
Published 10 Jul, 2008 12:00am
Militants in Southeast Asia rely on donations: experts

Militants in Southeast Asia rely on donations: experts

Islamic militants across Southeast Asia have become increasingly dependent on donations, including zakat (alms), to finance bombings because governments have tightened bank controls, according to security experts.
Published 10 Jul, 2008 12:00am
New technique may help predict quakes

New technique may help predict quakes

Scientists in the United States have devised a method for measuring changes in the speed of seismic waves that could one day help predict earthquakes, a study said Wednesday.
Published 10 Jul, 2008 12:00am
Shanghai 'highway king' facing corruption probe

Shanghai 'highway king' facing corruption probe

A Shanghai tycoon who made his fortune on highways has been arrested on suspicion of fraud, his lawyer said Wednesday, in the latest high-profile corruption case to hit China's economic hub. Liu Genshan, 51, one of China's richest men, was detained Saturd
Published 10 Jul, 2008 12:00am
Obama says sanctions for Iran, McCain says shield

Obama says sanctions for Iran, McCain says shield

US Democratic presidential candidate Barack Obama called Iran a threat that should be contained with diplomacy and tighter sanctions on Wednesday, and Republican John McCain said Tehran's missile test proved the need for a missile defence shield in Europe
Published 10 Jul, 2008 12:00am
FIFA changes ticket system for 2010 World Cup

FIFA changes ticket system for 2010 World Cup

FIFA has introduced a new ticketing system for the 2010 World Cup in South Africa which it said on Wednesday would greatly increase the number of tickets available for genuine football supporters. David Will, chairman of the ticketing sub-committee for th
Published 10 Jul, 2008 12:00am
Eden Garden groundsmen threaten suicide

Eden Garden groundsmen threaten suicide

Groundsmen at Kolkata's famous Eden Gardens have threatened to commit suicide if the cricket authorities do not meet their financial demands, including five months' back pay, Indian media reported on Wednesday.
Published 10 Jul, 2008 12:00am
South Africa leapfrog England in rankings

South Africa leapfrog England in rankings

South Africa have moved above England in the International Cricket Council (ICC) Test Championship standings on the eve of their four-match series. Graeme Smith's men will head into Thursday's opener at Lord's in second place in the Reliance Mobile table
Published 10 Jul, 2008 12:00am
England name unchanged team for record sixth time

England name unchanged team for record sixth time

England named an unchanged team for a world record sixth time on Wednesday to play South Africa in the first Test starting at Lord's on Thursday. Captain Michael Vaughan told a news conference England would field the line-up that won the final two Tests i
Published 10 Jul, 2008 12:00am
Army promotion for Mendis after Asia Cup victory

Army promotion for Mendis after Asia Cup victory

Sri Lanka's new spin sensation Ajantha Mendis has been given a double promotion in the army after his exploits in the Asia Cup final, officials said on Wednesday. Mendis, 23, a gunner, was promoted to 2nd lieutenant by President Mahinda Rajapakse, who is
Published 10 Jul, 2008 12:00am
US Open boosts prize money payout

US Open boosts prize money payout

The US Open base purse will jump one million dollars this year to 20.6 million dollars with up to 2.6 million dollars more in bonus money available, the US Tennis Association announced Tuesday.
Published 10 Jul, 2008 12:00am
France's Trezeguet quits internationals

France's Trezeguet quits internationals

France striker David Trezeguet said on Wednesday he was quitting international soccer. The Juventus player was left out of France's Euro 2008 squad and had an uneasy relationship with coach Raymond Domenech, who was told last week he could stay in the job
Published 10 Jul, 2008 12:00am
Sri Lanka board to end contracts dispute

Sri Lanka board to end contracts dispute

Sri Lanka's cricket board hopes to settle an increasingly bitter central contracts dispute with its players at an executive board meeting on Thursday, Board sources said. All members of the national squad and officials from the Sri Lanka Cricketers' Assoc
Published 10 Jul, 2008 12:00am
Swiss franc up

Swiss franc up

The Swiss franc moved higher against the dollar on Wednesday, rebounding from the previous day's fall and propelled by news that Iran has tested long- and medium-range missiles. "With currencies trading in a narrow range, market participants are ready to
Published 10 Jul, 2008 12:00am
Most Asian currencies climb on weak oil prices

Most Asian currencies climb on weak oil prices

The South Korean won spiked to a two-month high on Wednesday after dollar-selling intervention by the authorities, while other currencies mostly rallied on lower oil prices and comments from the Federal Reserve chairman.
Published 10 Jul, 2008 12:00am
Australian dollar falls to three-week lows

Australian dollar falls to three-week lows

The Australian dollar fell to its lowest in three weeks against the US currency on Wednesday, hurt by a fresh batch of weak economic data which led investors to further roll back chances of an interest rate hike.
Published 10 Jul, 2008 12:00am
Bernanke comments, oil price slide boost dollar

Bernanke comments, oil price slide boost dollar

The dollar rose on Tuesday as the Federal Reserve's willingness to keep its emergency lending facility open into 2009 for some Wall Street firms calmed fresh credit concerns and encouraged investors to snap up US stocks.
Published 10 Jul, 2008 12:00am
Dollar dips after Iran test-fires missiles

Dollar dips after Iran test-fires missiles

The dollar fell against the Swiss franc on Wednesday after Iran test-fired long- and medium-range missiles, stoking worries about geopolitical tensions and sending investors towards a traditional safe haven.
Published 10 Jul, 2008 12:00am
Central bank guides yuan down

Central bank guides yuan down

The Chinese central bank guided the yuan lower against the dollar on Wednesday, indicating it may be engineering another slowdown of yuan appreciation despite this week's call by G8 leaders for a stronger yuan.
Published 10 Jul, 2008 12:00am
Philippines shares finish firmer

Philippines shares finish firmer

Philippines shares closed 1.26 percent higher on Wednesday due to a drop in oil prices and a rebound in the US stock market, dealers said. The composite index rose 30.98 points to 2,481.53 points. The all-share index rose 1.06 percent to 1,565.25 points.
Published 10 Jul, 2008 12:00am
Malaysian shares jump

Malaysian shares jump

Malaysian share prices closed up 1.7 percent on Wednesday due to bargain-hunting in selected blue chips on the back of strong gains on Wall Street, dealers said. But they said fears of rising inflation kept trading volumes low.
Published 10 Jul, 2008 12:00am
Nikkei trims gains on Iran missile test

Nikkei trims gains on Iran missile test

The Nikkei stock average pared much of its earlier gains to end up 0.2 percent on Wednesday after a report that Iran had test-fired missiles, raising fears about a jump in oil prices on heightened tensions in the region. The Japanese stock market sharply
Published 10 Jul, 2008 12:00am
Thai share prices decline

Thai share prices decline

Thai shares closed 0.19 percent lower on Wednesday as investors became jittery in the wake of two major court cases that have rocked the country's ruling party, dealers said. They said the bourse rose in the morning, in line with other regional markets, b
Published 10 Jul, 2008 12:00am
Indian shares soar 4.6 percent

Indian shares soar 4.6 percent

Indian shares surged to close 4.6 percent higher on Wednesday as global markets rebounded, with positive domestic political sentiment also helping, dealers said. The benchmark Mumbai 30-share Sensex index rose 614.61 points to 13,964.26.
Published 10 Jul, 2008 12:00am
Seoul shares at 14-month low

Seoul shares at 14-month low

Seoul shares reversed early gains to fall to a new 14-month low on Wednesday after reports Iran tested missiles fuelled oil supply worries, while a sharply rising won weighed on exporters such as Samsung Electronics. The Korea Composite Stock Price Index
Published 10 Jul, 2008 12:00am
US longer maturity bond prices up

US longer maturity bond prices up

Longer maturity US Treasuries prices rose on Tuesday as a two-day slide in oil prices eased inflation fears. But the bid for short-term US government debt, typically seen as a safe haven when investors shun riskier assets, was depressed by gains in US sto
Published 10 Jul, 2008 12:00am
US longer maturity bond prices up

US longer maturity bond prices up

Longer maturity US Treasuries prices rose on Tuesday as a two-day slide in oil prices eased inflation fears. But the bid for short-term US government debt, typically seen as a safe haven when investors shun riskier assets, was depressed by gains in US sto
Published 10 Jul, 2008 12:00am
US stocks end higher on banks, lower oil

US stocks end higher on banks, lower oil

US stocks rose in another turbulent session on Tuesday as a pullback in oil prices eased worries about consumer and business spending, while financial shares gained after the Fed chairman said he may keep open a lifeline for banks. Technology and retail c
Published 10 Jul, 2008 12:00am
Tokyo rubber down

Tokyo rubber down

Tokyo rubber futures closed down 0.5 percent on Wednesday, trimming losses following a slide to a one-month low after crude oil prices rallied on reports that Iran had test-fired missiles. The key Tokyo Commodity Exchange rubber contract for December deli
Published 10 Jul, 2008 12:00am
New York cotton

New York cotton

Tuesday's closing prices of New York cotton in US cents/lb.

Published 10 Jul, 2008 12:00am
Iran angers United States

Iran angers United States

Iran on Wednesday test-fired a missile it said is capable of reaching Israel, angering the United States amid growing fears that the stand-off over the contested Iranian nuclear drive could lead to war. The Shahab-3 was among a broadside of nine missiles
Published 10 Jul, 2008 12:00am
India allows duty-free cotton imports

India allows duty-free cotton imports

India has scrapped import duty on raw cotton and withdrawn export incentives to boost domestic stocks, the government said on Wednesday, raising the prospect of higher imports and lower prices. Trade officials said local prices, which have surged more tha
Published 10 Jul, 2008 12:00am
US copper down

US copper down

US copper futures closed at their lowest level since mid-June on Tuesday as the red metal's pull-back from last week's hurdle of $4 a lb intensified once key chart points were broken, dealers said. Copper for September delivery ended down 15.25 cents or n
Published 10 Jul, 2008 12:00am
US rice futures higher

US rice futures higher

US rough rice futures on the Chicago Board of Trade ended mostly higher Tuesday on a technical bounce after Monday's limit-down close, traders said. The deferred months recovered late on slipover buying from corn, which closed down but off its lows. Howev
Published 10 Jul, 2008 12:00am
World Bank refuses to fund free energy savers plan

World Bank refuses to fund free energy savers plan

The World Bank has refused to finance the government plan to distribute free energy savers among the consumers of Pakistan Electric Power Company (Pepco), well-placed sources told Business Recorder. The project was approved by caretaker Prime Minis
Published 10 Jul, 2008 12:00am
Gold rebounds in Asia market

Gold rebounds in Asia market

Gold regained ground on Wednesday as speculators resurfaced on news that Iran had test- fired nine long- and medium-range missiles, lifting the metal's safe-haven appeal in times of uncertainty.
Published 10 Jul, 2008 12:00am
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