Firmness prevailed on the currency market on Saturday as the rupee strengthened versus dollar and euro, dealers said. On the inter-bank market, the rupee rose by 50 paisa in relation to the US currency for buying and selling at 70.50 and 70.60, they said.
Firmness prevailed on the currency market on Saturday as the rupee strengthened versus dollar and euro, dealers said. On the inter-bank market, the rupee rose by 50 paisa in relation to the US currency for buying and selling at 70.50 and 70.60, they said.
Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) -- issued by the Foreign Exchange Rates Comm
Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Rice prices held the overnight levels on the grain market on Saturday. Some items traded were mostly lower in process of modest trading, dealers said. Most of the changes were seen on the seed side as rapeseed Mirpurlane low type turned lower by Rs 325 to
Persisting cotton demand by the mills and exporters helped the prices to maintain the obtaining levels on the local cotton market at the weekend, dealers said.
Cotton farmers in Burkina Faso will soon be planting genetically modified seeds that could boost output and cut costs after the government became the first in West Africa to approve GMO cotton for general use this week. Bt cotton, developed by US farming
Raw sugar futures settled on Friday at a three-week low on follow-through investment fund sales and the market's weak tone could lead to further declines into next week, brokers said. The October raw sugar contract fell 0.22 cent or 2.1 percent to finish
US copper futures closed lower on Friday after a significant build in weekly Shanghai warehouse stocks reinforced fears of a demand slowdown in the world's top consumer of industrial metals. Copper for September delivery settled down 4.60 cents at $3.6690
Uncertainty about Australia's wheat crop is keeping the country's growers from hedging their production, despite good prices, brokers say. "There's a lack of grower selling," said Pat Cogswell of major commodities futures broker MF Global. "They're unwill
Indonesian coffee exporters offered lower discounts this week on easing supplies after falling prices prompted farmers to hold stocks and as the main harvest draws to a close, dealers said on Friday. Indonesian exporters offered a discount of $150 a tonne
US gold futures ended 1.3 percent lower on Friday as signs of stability in financial markets lessened bullion's safe-haven appeal, but gold's long-term trend remained bullish, analysts said.
US soybean futures on the Chicago Board of Trade tumbled on Friday in reaction to Argentina repealing its soy export tax hike, traders said. "By revoking the tax, the assumption now is that Argentine bean output will increase and that exports will also in
Grain futures were mostly stable or lower on Friday as worries over the weather eased and in line with a broad sell-off in commodities markets. But soybeans recovered slightly after a slump on Thursday. Corn could suffer more losses in the days ahead as c
A good mix of rain and sunshine in Nigeria's main cocoa growing areas in the last month has prolonged the mid-crop and raised hopes of a robust main crop, farmers said on Friday. "So far, rainfall has not been too much or too little, it has been in the ri
Indonesia may cut the palm oil export tax to 15 percent in August from 20 percent in July on easing global palm oil prices, a senior industry official said on Friday. "The export tax would be lower in August because palm oil prices in Rotterdam are easing
Oil prices ended the week on a bearish note, falling more than 16 dollars in a week, on worries over economic growth and slowing demand. New York's main oil contract, light sweet crude for August delivery, slipped 41 cents to close at 128.88 dollars per b
The Karachi Port handled 137,500 tonnes of cargo including 111,160 tonnes of import, 26,340 tonnes of export cargo and 3,794 loaded and empty containers (TEUs) during last 24 hours ended at 0700 hours on Saturday.
Canadian canola futures hit six-week lows on Friday as good growing conditions for US soyabeans pressured vegetable oil markets, and as funds continued to liquidate long positions in canola, traders said. "These fancy prices are not holding. We're coming
US corn futures on the Chicago Board of Trade sank to a seven-week low on Friday as favourable weather for pollination and a big drop in soybeans weighed on prices, traders said. Corn prices have fallen nearly 20 percent since making a record top above $8
US wheat futures on the Chicago Board of Trade closed lower on Friday, after volatile session that saw prices rally then fall, as a big global wheat crop continued to weigh on prices, traders said. Falling corn and soyabeans also weighed on the wheat mark
Siemens, the German engineering group, may shut down one of its transportation-division plants in the Czech Republic with a loss of 1,000 jobs, sources said Saturday in Munich. They said the rolling-stock plant in Prague had been earmarked for sale or clo
Toyota Motor Corp plans to produce 100,000 units a year of a new hybrid-only model slated for release in 2009 at a subsidiary in southern Japan, the Nikkei business daily reported on Saturday. The new car, which will be Toyota's second dedicated hybrid mo
Russian gas major Gazprom has agreed to buy a 25 percent stake in gas transport firm DalTransGas from the country's largest oil producer, Rosneft, Gazprom said on Saturday. The acquisition, the price of which was not disclosed, is part of a broader deal b
US securities regulators have modified an emergency rule aimed at curbing manipulative short-selling in 19 major financial firms including Fannie Mae and Freddie Mac. Facing complaints from financial industry groups and exchanges, the Securities and Excha
Last-ditch talks at the World Trade Organisation (WTO) on Friday late failed to produce a deal in the long-running dispute between Latin American countries and the European Union over EU banana imports. The EU's representative to the WTO said Latin Americ
Thailand's low budget airline One-Two-Go announced Saturday that it was suspending its operations for eight weeks, to allow time for financial restructuring. Services will stop from July 22 until September 15 as the impact of high fuel prices hits the no-
Britain's finance minister Alistair Darling said in an interview published on Saturday that he was considering reforming the rules governing public finances and expected the economic downturn to last for years. The Times said Darling confirmed he was cons
Sri Lanka's trade deficit for January-May ballooned to $2.58 billion, nearly double the same period last year, due to costly oil imports, the central bank said on Friday. The island nation has been struggling to pay high global oil prices, which have hit
A US-based investment group laid the foundation stone for a $100 million luxury hotel in Baghdad on Saturday, a move Iraqi officials said showed the country was open for business with violence at a four-year low. The five-star Baghdad Two Rivers hotel pro
Banks holding volatile deposits gathered by third parties may be charged higher premiums to bolster the fund used to insure deposits at failed banks, the head of the Federal Deposit Insurance Corp said on Friday. "I think that is something we need to fact
German business sentiment likely deteriorated again this month under the burden of record euro strength and high oil prices, a Reuters poll showed on Friday. A fall in July would follow on from a deterioration in morale in June to its lowest level since D
Growth in Europe's biggest economy could beat forecasts for this year and although 2009 will be weaker there should be no talk of recession, German Finance Minister Peer Steinbrueck said on Saturday. In an interview with Welt am Sonntag Steinbrueck warned
Some US motorists sick of getting clobbered at the pump seem willing to do just about anything for free fuel, from giving up the right to name their children to stealing from day-care centers to donating blood.
Fuel price protests reached Germany Saturday, with truck drivers rumbling in long convoys of heavy vehicles along autobahns Saturday to demand cuts in Germany's tax on diesel fuel. Police said the various convoys which converged on a private truck stop at
New Zealand's central bank is seen leaving interest rates unchanged at a record 8.25 percent next week, but the decision will be a close call given a need to cope with a rapidly-slowing economy and rampant inflation, a Reuters poll shows.
The Canadian dollar was higher against the US dollar on Friday morning after Canadian wholesale trade data for May came in stronger than expected, helping boost confidence in the economy. Bond prices fell in response to firmer equities markets and the sol
Currency speculators more than doubled their bets against the US dollar in the latest week, data from the Commodity Futures Trading Commission showed on Friday. The value of the US dollar's net short position rose to $20.01 billion in the week to July 15,
Mexico's central bank lifted its key interest rate for the second month in a row on Friday to tackle inflation that is running at its fastest pace in more than three years.
The dollar rose on Friday, heading for its largest weekly gain versus the euro in a month, after a smaller-than-expected quarterly loss from Citigroup Inc eased worries about the US financial sector. Citi's results added to positive earnings news this wee
The dollar could stay trapped in a tight range versus the euro next week amid a dearth of major US economic data, but German inflation and business sentiment reports could lend a weaker bias, while US bank earnings remain a wild card.
China should let the yuan strengthen further and keep a tight control on bank credit to filter out wasteful and low-tech firms, a state researcher said in comments published on Friday.
The credit derivative market, which has ballooned to over $62 trillion to dwarf the underlying debt market, has yet to experience the default of a significant issuer since its rapid growth.
The credit derivative market, which has ballooned to over $62 trillion to dwarf the underlying debt market, has yet to experience the default of a significant issuer since its rapid growth.
The Canadian bond prices, which have been under pressure the past few days, continued to retreat on the wholesale trade data and on stronger Canadian stocks on Friday. The S&P/TSX composite index rose 0.41 percent to 13,515.96 during the session, eating i
The Canadian bond prices, which have been under pressure the past few days, continued to retreat on the wholesale trade data and on stronger Canadian stocks on Friday. The S&P/TSX composite index rose 0.41 percent to 13,515.96 during the session, eating i
The Mexican benchmark IPC stock index lost 0.16 percent to 28,169.77, dragged down by losses in miners as metals prices fell and weakness at telecommunications giant America Movil ahead of its second-quarter earnings report.
US corporate credit spreads held value on Friday, after some gains this week on the back of better-than-expected financial earnings. Overall US corporate bonds traded in a range on Friday and were little changed in afternoon trading, while the benchmark i
US corporate credit spreads held value on Friday, after some gains this week on the back of better-than-expected financial earnings. Overall US corporate bonds traded in a range on Friday and were little changed in afternoon trading, while the benchmark i
US Treasuries prices fell on Friday for the third day in a row as better-than-expected earnings in the bank sector prompted investors to turn away from lower-risk debt. Citigroup Inc, the largest US bank, posted a smaller-than-expected quarterly loss on F
US Treasuries prices fell on Friday for the third day in a row as better-than-expected earnings in the bank sector prompted investors to turn away from lower-risk debt. Citigroup Inc, the largest US bank, posted a smaller-than-expected quarterly loss on F
Argentina's sovereign US dollar-denominated bonds rallied on Friday, outperforming by far their emerging market peers, after the government repealed a controversial tax on soy that caused farm protests.
Argentina's sovereign US dollar-denominated bonds rallied on Friday, outperforming by far their emerging market peers, after the government repealed a controversial tax on soy that caused farm protests.
GT Solar International Inc's initial public offering, expected to be the largest ever by a US solar company, is facing a surprisingly cloudy outlook. Despite red-hot industry growth, as the price of competing energy sources soars, investors have not shown
Chilean electric utilities led stock indexes higher on Friday, buoyed by lower oil prices and in anticipation of second-quarter earnings reports. The all-market IGPA rose 1.09 percent to close at 13,676.88 points, while the blue chip IPSA index advanced 1
The Toronto Stock Exchange's main index pushed higher on Friday, supported by energy shares, while financials were buoyed as another US bank posted better than expected quarterly results. The benchmark trimmed earlier gains as the energy sector - a key pi