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Print - 2008-07-29
Tokyo rubber down

Tokyo rubber down

Tokyo rubber futures fell on Monday as technical selling took precedence in a market lacking fresh incentives to provide direction. A Tokyo-based trader said there was often a downward risk to prices at the end and the beginning of the month when funds of
Published 29 Jul, 2008 12:00am
Energy sector roundtable in US today

Energy sector roundtable in US today

Pakistan government has set an ambitious tagret of around $20 billion as foreign investment in the energy sector, for which it is actively interacting with top companies in the USA. Highlighting the salient features of the upcoming energy conference.
Published 29 Jul, 2008 12:00am
Energy sector roundtable in US today

Energy sector roundtable in US today

Pakistan government has set an ambitious tagret of around $20 billion as foreign investment in the energy sector, for which it is actively interacting with top companies in the USA. Highlighting the salient features of the upcoming energy conference.
Published 29 Jul, 2008 12:00am
Shanghai copper follows London higher

Shanghai copper follows London higher

Shanghai metals futures rose on Monday, keeping pace with a stronger showing in London futures. "We're seeing some spillover from Friday's stronger numbers in copper and aluminium, which is giving most metals an edge today," a dealer in Sydney said.
Published 29 Jul, 2008 12:00am
Ginners threaten to go on indefinite strike

Ginners threaten to go on indefinite strike

Cotton ginning factories have announced to go on strike for an indefinite period from Friday, as the ministry of textile has linked the renewal of license to payment of research cess. The decision was taken in the emergency general body meeting of Pakista
Published 29 Jul, 2008 12:00am
Gold rises as oil bounces

Gold rises as oil bounces

Gold extended gains on Monday, regaining its appeal as a hedge against inflation as oil prices bounced from a seven-week low, encouraging some investors to put their money back into bullion. Physical buying from jewellers also lifted prices but overall tr
Published 29 Jul, 2008 12:00am
Ginners threaten to go on indefinite strike

Ginners threaten to go on indefinite strike

Cotton ginning factories have announced to go on strike for an indefinite period from Friday, as the ministry of textile has linked the renewal of license to payment of research cess. The decision was taken in the emergency general body meeting of Pakista
Published 29 Jul, 2008 12:00am
Asian gasoil

Asian gasoil

Indonesia's Pertamina has bought by tender 400,000 barrels of high-sulphur gas oil for delivery in late August, a trade source said on Monday. The state oil and gas firm purchased 200,000 barrels of 0.35 percent gas oil from Petral at a premium of $2.60 a
Published 29 Jul, 2008 12:00am
Ginners threaten to go on indefinite strike

Ginners threaten to go on indefinite strike

Cotton ginning factories have announced to go on strike for an indefinite period from Friday, as the ministry of textile has linked the renewal of license to payment of research cess. The decision was taken in the emergency general body meeting of Pakista
Published 29 Jul, 2008 12:00am
Oil rises towards $124

Oil rises towards $124

Oil rose towards $124 a barrel on Monday, rebounding from a seven-week low, in what analysts said was technical buying and short-covering after recent declines left the market oversold. But analysts said worries of slowing fuel demand, which have dragged
Published 29 Jul, 2008 12:00am
Pakistan seeks to share actionable intelligence with US: Sherry

Pakistan seeks to share actionable intelligence with US: Sherry

Federal Minister of Information and Broadcasting Sherry Rehman has said that Pakistan will be seeking to share actionable intelligence with the United States under the anti-terrorism strategy to counter the threats of extremism in the country.
Published 29 Jul, 2008 12:00am
Ivorian cocoa arrivals seen 1.28 million tonnes

Ivorian cocoa arrivals seen 1.28 million tonnes

Cocoa arrivals at ports in top grower Ivory Coast reached around 1,281,000 tonnes from October 1 to July 27, exporters estimated on Monday, up from 1,165,551 tonnes in the same period of the previous season. Exporters estimated around 7,000 tonnes of bean
Published 29 Jul, 2008 12:00am
Pakistan seeks to share actionable intelligence with US: Sherry

Pakistan seeks to share actionable intelligence with US: Sherry

Federal Minister of Information and Broadcasting Sherry Rehman has said that Pakistan will be seeking to share actionable intelligence with the United States under the anti-terrorism strategy to counter the threats of extremism in the country.
Published 29 Jul, 2008 12:00am
TCSC to sell 96,066 tonnes of raw sugar

TCSC to sell 96,066 tonnes of raw sugar

State-run Thai Cane and Sugar Corp (TCSC) will open a tender to sell 96,066 tonnes of 2008/09 raw sugar next week, a senior TCSC official said on Monday. The tender would be held on August 7 for both J-spec, a low quality raw sugar mostly sold to Japan, a
Published 29 Jul, 2008 12:00am
Gilani to lead Pakistan delegation at 15th Saarc summit in Colombo

Gilani to lead Pakistan delegation at 15th Saarc summit in Colombo

Prime Minister Syed Yousuf Raza Gilani will lead Pakistani delegation to the 15th Saarc Summit in Colombo, Sri Lanka from August 2-3, foreign office spokesman said Monday. Heads of state or governments of Afghanistan, Bangladesh, Bhutan, India, Maldives,
Published 29 Jul, 2008 12:00am
China raises minimum price for early rice

China raises minimum price for early rice

China has raised the minimum purchase price for early rice to 1.54 yuan ($0.226) per kilogram this summer, an increase of 10 percent from a year earlier, the National Reform and Development Commission (NDRC) said on Monday. Minimum prices are a tool for C
Published 29 Jul, 2008 12:00am
War on terror: Bush says receives 'strong commitment' from Gilani

War on terror: Bush says receives 'strong commitment' from Gilani

US President George W. Bush, flanked by Prime Minister Yusuf Raza Gilani, made an unambiguous commitment to respect Pakistan's sovereignty, paid tributes to its vibrant democracy with major focus on enhanced co-operation in economic/security fields and jo
Published 29 Jul, 2008 12:00am
Russian grain prices fall with harvesting

Russian grain prices fall with harvesting

Russian grain prices kept declining last week, led by feed grain, as harvesting progressed, analysts said. "Domestic feed wheat and feed barley prices are nearing a virtual bottom... as the country expects a relatively high share of feed grains in the new
Published 29 Jul, 2008 12:00am
War on terror: Bush says receives 'strong commitment' from Gilani

War on terror: Bush says receives 'strong commitment' from Gilani

US President George W. Bush, flanked by Prime Minister Yusuf Raza Gilani, made an unambiguous commitment to respect Pakistan's sovereignty, paid tributes to its vibrant democracy with major focus on enhanced co-operation in economic/security fields and jo
Published 29 Jul, 2008 12:00am
Ukraine grain exports at 810,000 tonnes

Ukraine grain exports at 810,000 tonnes

At least 810,000 tonnes of grains were exported from Ukraine in the first three weeks of July, a leading analyst said on Monday. The UkrAgroConsult agriculture consultancy quoted data from ports as showing the volume included 370,000 tonnes of barley, 100
Published 29 Jul, 2008 12:00am
Musharraf to attend Olympics opening ceremony

Musharraf to attend Olympics opening ceremony

President Pervez Musharraf will be attending the opening ceremony of the Beijing Olympics on August 8 at the invitation of Chinese government. The President will hold meeting with Chinese leadership, including President Hu Jintao, says a Foreign Office st
Published 29 Jul, 2008 12:00am
US wheat climbs

US wheat climbs

US wheat futures rose more than 2 percent on Monday, extending gains after news of strong buying by Iran boosted the market. Soy was up on concern over a turn to hotter weather in August when the US crop will be setting pods. Chicago Board of Trade Septem
Published 29 Jul, 2008 12:00am
Malaysian palm oil down

Malaysian palm oil down

Malaysian crude palm oil futures fell 2.2 percent to the lowest level in more than eight months on Monday as worries about a build-up in supply weighed on the market, dealers said. The benchmark October contract on the Bursa Malaysia Derivatives Exchange
Published 29 Jul, 2008 12:00am
Bangladesh halves interest on small firm loans

Bangladesh halves interest on small firm loans

Bangladesh will reduce interest rates by at least 50 percent to below double digits for bank loans for small and medium scale enterprises (SME), a senior government official said on Monday.
Published 29 Jul, 2008 12:00am
Thousands face chaos after Lufthansa strike

Thousands face chaos after Lufthansa strike

A strike by Lufthansa ground and cabin staff over pay has barely disrupted flights to and from German airports, the airline said on Monday, but union officials said the impact would grow in coming days. Tens of thousands of air passengers had faced travel
Published 29 Jul, 2008 12:00am
Europe gets another serving of bad economic news

Europe gets another serving of bad economic news

Europe was hit by another wave of bad economic news on Monday, with surveys showing German consumer confidence worse than at any time since recession last struck and yet more house price falls in Spain and Britain.
Published 29 Jul, 2008 12:00am
New search engine unveiled

New search engine unveiled

A start-up led by former star Google engineers on Sunday unveiled a new Web search service that aims to outdo the Internet search leader in size, but faces an uphill battle changing Web surfing habits. Cuil Inc (pronounced "cool") is offering a new search
Published 29 Jul, 2008 12:00am
Russia cuts exposure to Freddie and Fannie

Russia cuts exposure to Freddie and Fannie

Russia has cut its exposure to US mortgage lenders Fannie Mae and Freddie Mac to less than $50 billion by not refinancing matured short-term debt, a senior central bank official told Reuters on Monday.
Published 29 Jul, 2008 12:00am
Markets fragile, inflation added burden: IMF

Markets fragile, inflation added burden: IMF

Global markets are still under strain from the US housing crisis and rising inflationary pressures are making it tougher to set monetary policy to keep the lid on prices without risking financial stability, the International Monetary Fund said on Monday.
Published 29 Jul, 2008 12:00am
Emirates A380 passengers to shower at 43,000 feet

Emirates A380 passengers to shower at 43,000 feet

First-class passengers will be able to take a shower at 43,000 feet and enjoy a drink at the upstairs bar on Dubai-based airline Emirates's double-decker Airbus A380s, the airline said on Monday. Emirates boasted at a ceremony to take delivery of the firs
Published 29 Jul, 2008 12:00am
Dubai firm takes over Sri Lanka's Associated Motorways

Dubai firm takes over Sri Lanka's Associated Motorways

Dubai family-owned Al-Futtaim Group has bought a majority stake in Sri Lankan automotive firm Associated Motorways for 300 million dirhams ($81.70 million) to tap economic growth in the country. Shares of Associated Motorways (AMW), Sri Lanka's only agent
Published 29 Jul, 2008 12:00am
Europe second quarter credit quality hits five-year low: Moody's

Europe second quarter credit quality hits five-year low: Moody's

Credit quality in western Europe deteriorated to its lowest level in five years in the second quarter of 2008 as economies grappled with rising inflation and slowing growth, Moody's Investors Service said on Monday. The ratings agency said in a report it
Published 29 Jul, 2008 12:00am
Europe second quarter credit quality hits five-year low: Moody's

Europe second quarter credit quality hits five-year low: Moody's

Credit quality in western Europe deteriorated to its lowest level in five years in the second quarter of 2008 as economies grappled with rising inflation and slowing growth, Moody's Investors Service said on Monday. The ratings agency said in a report it
Published 29 Jul, 2008 12:00am
US deficit seen near record $490 billion

US deficit seen near record $490 billion

The Bush administration on Monday plans to project the US budget deficit will soar to a new record of nearly half a trillion dollars in fiscal 2009 as the economic outlook darkens and Americans elect a new president.
Published 29 Jul, 2008 12:00am
Nigerian militants attack oil pipelines, output hit

Nigerian militants attack oil pipelines, output hit

Militants in Nigeria's Niger Delta said on Monday they had blown up two major oil pipelines belonging to Royal Dutch Shell, forcing the firm to halt some production and helping push world oil prices higher. The Movement for the Emancipation of the Niger D
Published 29 Jul, 2008 12:00am
Reliance resumes fuel supply to Iran

Reliance resumes fuel supply to Iran

Indian refiner Reliance Industries has resumed fuel supplies to Iran from July after halting it in the last quarter of 2007 over credit issues, four trade sources familiar with the deal said. However Financing arrangement for the sale is not yet clear.
Published 29 Jul, 2008 12:00am
TNT's second quarter profit drops, shares tumble

TNT's second quarter profit drops, shares tumble

Dutch mail company TNT NV, which has been eyed by US rival FedEx according to media reports, reported a surprise drop in its second-quarter operating profit, sending its shares down 9 percent. TNT, Europe's second-biggest mail company after Deutsche Post,
Published 29 Jul, 2008 12:00am
TNT's second quarter profit drops, shares tumble

TNT's second quarter profit drops, shares tumble

Dutch mail company TNT NV, which has been eyed by US rival FedEx according to media reports, reported a surprise drop in its second-quarter operating profit, sending its shares down 9 percent. TNT, Europe's second-biggest mail company after Deutsche Post,
Published 29 Jul, 2008 12:00am
Indonesia appoints brokers to sell Sukuk issue

Indonesia appoints brokers to sell Sukuk issue

Indonesia's finance ministry said on Monday it has appointed three of the biggest local securities firms to sell the country's first rupiah-denominated Islamic bonds. PT Mandiri Sekuritas, PT Trimegah Securities Tbk, and PT Danareksa Sekuritas were appoin
Published 29 Jul, 2008 12:00am
Indonesia appoints brokers to sell Sukuk issue

Indonesia appoints brokers to sell Sukuk issue

Indonesia's finance ministry said on Monday it has appointed three of the biggest local securities firms to sell the country's first rupiah-denominated Islamic bonds. PT Mandiri Sekuritas, PT Trimegah Securities Tbk, and PT Danareksa Sekuritas were appoin
Published 29 Jul, 2008 12:00am
Japan nudges up budget spending cap

Japan nudges up budget spending cap

The Japanese government nudged up the cap for general spending in its budget for next fiscal year on Monday, mainly to fund increasing social security costs as the population ages. Finance Minister Fukushiro Nukaga said the limit on spending in the genera
Published 29 Jul, 2008 12:00am
Mitsubishi Electric first quarter profit up, keeps outlook

Mitsubishi Electric first quarter profit up, keeps outlook

Japan's Mitsubishi Electric Corp posted a better-than-expected 2 percent rise to a record quarterly operating profit on firm sales of factory equipment and power systems, but it kept its full-year outlook, which remains below market estimates.
Published 29 Jul, 2008 12:00am
Mitsubishi Electric first quarter profit up, keeps outlook

Mitsubishi Electric first quarter profit up, keeps outlook

Japan's Mitsubishi Electric Corp posted a better-than-expected 2 percent rise to a record quarterly operating profit on firm sales of factory equipment and power systems, but it kept its full-year outlook, which remains below market estimates.
Published 29 Jul, 2008 12:00am
China Telecom to pay $8 billion for mobile network use

China Telecom to pay $8 billion for mobile network use

China Telecom will pay upwards of $8 billion to use its state parent's newly acquired wireless network over the next three years, as the country's largest fixed-line carrier hitches a ride into a mobile arena now dominated by China Mobile Ltd.
Published 29 Jul, 2008 12:00am
Bangladesh private airline begins Colombo flight

Bangladesh private airline begins Colombo flight

A Bangladesh private airline, Best Air, launched its maiden flight to Colombo on Monday, resuming a direct air link between Dhaka and the Sri Lankan capital, officials said. Flights between the two capitals, previously operated by Sri Lanka's state carrie
Published 29 Jul, 2008 12:00am
Unilever sells North American laundry unit to Vestar

Unilever sells North American laundry unit to Vestar

Consumer goods giant Unilever Plc/NV agreed to sell its North American laundry business on Monday to private equity firm Vestar Capital Partners for about $1.45 billion to complete the bulk of its sell-off programme. The business makes Snuggle, Wisk and S
Published 29 Jul, 2008 12:00am
Verizon quarterly profit gains

Verizon quarterly profit gains

Verizon Communications Inc on Monday said quarterly profit rose on strong wireless sales, shrugging off the impact of a weaker economy and offsetting a fall in landline users. The No 2 US phone service provider said its second-quarter earnings rose to $1.
Published 29 Jul, 2008 12:00am
Verizon quarterly profit gains

Verizon quarterly profit gains

Verizon Communications Inc on Monday said quarterly profit rose on strong wireless sales, shrugging off the impact of a weaker economy and offsetting a fall in landline users. The No 2 US phone service provider said its second-quarter earnings rose to $1.
Published 29 Jul, 2008 12:00am
Reckitt's confident second quarter helps boost shares

Reckitt's confident second quarter helps boost shares

British household cleaning products group Reckitt Benckiser on Monday gave an upbeat second-half outlook as it matched top-end forecasts with an 11 percent rise in second-quarter profits sending its shares up. The maker of Cillit Bang cleaner, Finish/Calg
Published 29 Jul, 2008 12:00am
Reckitt's confident second quarter helps boost shares

Reckitt's confident second quarter helps boost shares

British household cleaning products group Reckitt Benckiser on Monday gave an upbeat second-half outlook as it matched top-end forecasts with an 11 percent rise in second-quarter profits sending its shares up. The maker of Cillit Bang cleaner, Finish/Calg
Published 29 Jul, 2008 12:00am
Ryanair says oil price, recession to erase profit

Ryanair says oil price, recession to erase profit

Low-cost airline Ryanair reported an 85 percent fall in first quarter net earnings and was unlikely to make any profit this year in a battle against recession and high oil prices. Shares in Europe's largest no-frills carrier dropped 25 percent.
Published 29 Jul, 2008 12:00am
Ryanair says oil price, recession to erase profit

Ryanair says oil price, recession to erase profit

Low-cost airline Ryanair reported an 85 percent fall in first quarter net earnings and was unlikely to make any profit this year in a battle against recession and high oil prices. Shares in Europe's largest no-frills carrier dropped 25 percent.
Published 29 Jul, 2008 12:00am
Latam, wholesale soften domestic slump for BBVA

Latam, wholesale soften domestic slump for BBVA

Spain's number two bank BBVA posted an 11.6 percent rise in first-half net profit on Monday, in line with forecasts, as Latin America and wholesale banking softened the impact of a sharp slowdown at home. BBVA said recurrent net profit totalled 2.93 billi
Published 29 Jul, 2008 12:00am
Latam, wholesale soften domestic slump for BBVA

Latam, wholesale soften domestic slump for BBVA

Spain's number two bank BBVA posted an 11.6 percent rise in first-half net profit on Monday, in line with forecasts, as Latin America and wholesale banking softened the impact of a sharp slowdown at home. BBVA said recurrent net profit totalled 2.93 billi
Published 29 Jul, 2008 12:00am
Chinese aluminium smelter in talks to sell to Alcoa

Chinese aluminium smelter in talks to sell to Alcoa

US aluminium giant Alcoa Inc is in talks to buy its first smelter in China, marking a rare foreign incursion into the world's biggest aluminium sector as hopes fade for its joint venture with national champion Chalco. The move suggests Alcoa is determined
Published 29 Jul, 2008 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 276,276 tonnes of cargo including 202,928 tonnes of import, 73,348 tonnes of export cargo and 4,401 loaded and empty containers (TEUs) during last 48 hours ended at 0700 hours on Monday.
Published 29 Jul, 2008 12:00am
JS Bank opens three more branches

JS Bank opens three more branches

JS Bank Limited has added three new branches to its network. JS Bank recently expanded its market presence by opening branches in Shadman Town in Lahore, Saddar in Hyderabad and Shahrah-e-Faisal in Karachi. With the opening of these three branches, the JS
Published 29 Jul, 2008 12:00am
Australian stocks decline

Australian stocks decline

Australian shares fell 1.4 percent on Monday as growing concerns about credit market losses triggered further selling in Australia and New Zealand Banking Group and other major banks. ANZ shares fell as much as 13.2 percent, its steepest one-day percentag
Published 29 Jul, 2008 12:00am
Philippines shares make gains

Philippines shares make gains

Philippines share prices closed 1.1 percent higher on Monday with investors returning to the market amid a sustained drop in crude oil prices, dealers said. The composite index added 28.09 points to 2,540.81. The all-share index rose 13.54 points to 1,594
Published 29 Jul, 2008 12:00am
Japanese government bond futures easier

Japanese government bond futures easier

Japanese government bond futures dipped on Monday after better-than-expected economic data last week eased worries about the outlook for US growth, but regained some ground as a rise in Tokyo equities lost steam.
Published 29 Jul, 2008 12:00am
Japanese government bond futures easier

Japanese government bond futures easier

Japanese government bond futures dipped on Monday after better-than-expected economic data last week eased worries about the outlook for US growth, but regained some ground as a rise in Tokyo equities lost steam.
Published 29 Jul, 2008 12:00am
Hong Kong shares end flat

Hong Kong shares end flat

Hong Kong shares fell 0.2 percent on Monday amid wafer-thin volumes and the lowest turnover in nearly 16-months as investors turned their attention to the futures market ahead of the July contract expiry on Wednesday. Investors also stayed on the sideline
Published 29 Jul, 2008 12:00am
China stocks rise on policy shift signs

China stocks rise on policy shift signs

Chinese stocks rose on Monday, led by banks and property shares, after a meeting of the Communist Party leadership appeared to shift economic policy slightly towards sustaining growth from fighting inflation.
Published 29 Jul, 2008 12:00am
Indonesian shares gain

Indonesian shares gain

Indonesian shares closed 1.4 percent higher on Monday in moderate volume led by mining and telecommunication blue chips, dealers said. The Jakarta Composite Index rose 30.33 points to 2,275.67 on volume of 3.2 billion shares worth 4.14 trillion rupiah (45
Published 29 Jul, 2008 12:00am
Thai share prices close flat

Thai share prices close flat

Thai share prices closed little changed on Monday amid concern over political stability in Thailand, dealers said. They said the market was lacklustre as investors stayed on the sidelines after the Supreme Court agreed to hear a case, which could force ou
Published 29 Jul, 2008 12:00am
China South Locomotive to launch $1.3 billion IPO

China South Locomotive to launch $1.3 billion IPO

China South Locomotive & Rolling Stock Corp, the country's biggest train maker, said it would launch a roughly $1.3 billion domestic initial public offering on Tuesday.
Published 29 Jul, 2008 12:00am
China South Locomotive to launch $1.3 billion IPO

China South Locomotive to launch $1.3 billion IPO

China South Locomotive & Rolling Stock Corp, the country's biggest train maker, said it would launch a roughly $1.3 billion domestic initial public offering on Tuesday.
Published 29 Jul, 2008 12:00am
Malaysian shares higher

Malaysian shares higher

Malaysian share prices closed 1.1 percent higher Monday due to improved market sentiment following the central bank's decision to hold interest rates at 3.5 percent, dealers said. The Kuala Lumpur Composite Index gained 12.34 points to 1,154.09 in heavier
Published 29 Jul, 2008 12:00am
Seoul shares end steady

Seoul shares end steady

Seoul shares ended steady Monday after trading in negative territory for most of the session on worries about the tech sector outlook, but solid Samsung SDI results boosted sentiment and trimmed losses by technology issues. The Korea Composite Stock Price
Published 29 Jul, 2008 12:00am
Singapore shares drift lower

Singapore shares drift lower

Singapore shares closed 0.43 percent lower on Monday in cautious trading ahead of local earnings reports and key US economic data, analysts said. The blue chip Straits Times Index closed 12.55 points lower at 2,910.36 on thin volume of 748.93 million shar
Published 29 Jul, 2008 12:00am
Nikkei climbs on gains in trading houses

Nikkei climbs on gains in trading houses

The Nikkei average edged up 0.1 percent on Monday as investors picked up recently battered trading companies such as Mitsui & Co Ltd, but the market's gains were held in check by a sharp fall in Advantest Corp after its dismal results.
Published 29 Jul, 2008 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Monday. 68.47/68.52 (previous 68.47/68.49). Call Money Rates: 7.00-12.75 percent (previous 7.00-12.75 percent).
Published 29 Jul, 2008 12:00am
Indian rupee down

Indian rupee down

The Indian rupee weakened on Monday, after having risen in early trade, as oil refiners bought dollars in the local currency market to meet month-end import commitments. The partially convertible rupee ended at 42.55/56 per dollar, down 0.7 percent from F
Published 29 Jul, 2008 12:00am
Swiss franc flat versus dollar

Swiss franc flat versus dollar

The Swiss franc traded near flat against the dollar and the euro on Monday as investors await key Swiss economic data, due later in the week, for clues about the health of the Swiss economy. Swiss consumer prices are seen rising at the fastest pace in nea
Published 29 Jul, 2008 12:00am
Dollar hits one-month high

Dollar hits one-month high

The dollar rose to a one-month high above 108.00 yen on Monday, riding on momentum gained from better-than-expected US data on capital spending and home sales late last week that lifted some of the gloom over the economy.
Published 29 Jul, 2008 12:00am
Australian dollar stuck near three-week lows

Australian dollar stuck near three-week lows

The Australian dollar was on the defensive near three-week lows on Monday after troubles at another domestic bank encouraged investors to price in a greater chance of lower interest rates in the coming months. "The Aussie is struggling and it's partly to
Published 29 Jul, 2008 12:00am
Asian currencies: won buoyed by lower oil

Asian currencies: won buoyed by lower oil

The South Korean won and Philippine peso edged up with the help of lower oil prices on Monday, but the Malaysian ringgit weakened after the central bank surprised markets by holding interest rates steady. The won climbed 0.4 percent to 1,005.4 per dollar,
Published 29 Jul, 2008 12:00am
Chinese yuan suffers biggest daily loss

Chinese yuan suffers biggest daily loss

China's yuan on Monday posted its biggest one-day fall against the dollar since its peg to the US currency was abolished in July 2005, amid signs that Chinese forex policy was shifting towards slower yuan appreciation.
Published 29 Jul, 2008 12:00am
Danish biker tests positive for EPO

Danish biker tests positive for EPO

A mountain biker in Denmark's Olympic team has tested positive for the banned blood-boosting drug EPO before the Beijing Games opening next week, the Danish National Olympic Committee said on Monday. Peter Riis Andersen, 28, tested positive for erythropoi
Published 29 Jul, 2008 12:00am
Sri Lanka add Prasad to Galle Test squad

Sri Lanka add Prasad to Galle Test squad

Sri Lanka have called up uncapped paceman Dammika Prasad as an additional bowling option for the second test against India in Galle starting on Thursday. The 25-year-old played three one-day internationals in 2006 before suffering a series of injuries but
Published 29 Jul, 2008 12:00am
All is not lost, says Gambhir

All is not lost, says Gambhir

Opening batsman Gautam Gambhir has said India are confident of overcoming Sri Lanka's spin challenge in the second Test starting here on Thursday. Sri Lankan spinners Muttiah Muralitharan and Ajantha Mendis shared 19 wickets in the opening Test of the thr
Published 29 Jul, 2008 12:00am
Safina wins Los Angeles title

Safina wins Los Angeles title

Dinara Safina won her first title on US soil with a clinical 6-4 6-2 destruction of Flavia Pennetta in the Los Angeles Classic final on Sunday. The powerful Russian completely dominated the Italian's serve, breaking her six successive times to claim her s
Published 29 Jul, 2008 12:00am
Barcelona to take Messi on US tour despite Olympic row

Barcelona to take Messi on US tour despite Olympic row

Barcelona could take Argentine playmaker Lionel Messi on tour to Italy and the United States later this week even if FIFA orders the Spanish club to release him for the Olympic Games, a newspaper reported Monday.
Published 29 Jul, 2008 12:00am
Federer shrugs off Nadal top-spot danger

Federer shrugs off Nadal top-spot danger

Roger Federer has shrugged off the impending danger posed by Rafael Nadal's seemingly unstoppable march towards his world number one spot. "I feel good, I'm focussed," said the Swiss, who has been number one since February 2004 and who defends his Cincinn
Published 29 Jul, 2008 12:00am
Atherton slams Harmison recall

Atherton slams Harmison recall

Former England captain Michael Atherton has blasted the England selectors for recalling fast bowler Stephen Harmison for the third Test against South Africa, saying it sends a "terrible message".
Published 29 Jul, 2008 12:00am
Vaughan under pressure as England seek fightback

Vaughan under pressure as England seek fightback

England captain Michael Vaughan returns to the scene of one of the most significant events of his cricket career as his team seek to turn around their fortunes in the second Test against South Africa at Edgbaston starting on Wednesday.
Published 29 Jul, 2008 12:00am
Qantas names Jetstar's Joyce as chief executive

Qantas names Jetstar's Joyce as chief executive

Qantas Airways Ltd said on Monday Alan Joyce will take over as chief executive, taking the baton from Geoff Dixon who steps down after a string of belt tightenings as world airlines battle soaring fuel bills. Joyce, an Irishman who has headed Qantas' no-f
Published 29 Jul, 2008 12:00am
Beijing shrouded in haze 11 days before Olympics

Beijing shrouded in haze 11 days before Olympics

Olympic host city Beijing was shrouded in haze on Monday 11 days before the Games begin, raising anxieties about whether it can deliver the clean skies promised for the world's top athletes. The city's chronic pollution, a sometimes acrid mix of construct
Published 29 Jul, 2008 12:00am
Corruption helps Afghan drug lords evade justice: UN

Corruption helps Afghan drug lords evade justice: UN

Corruption in Afghanistan is hobbling efforts to combat the booming opium trade with powerful drug lords evading justice by simply making a telephone call to friends in high places, a United Nations official said on Monday.
Published 29 Jul, 2008 12:00am
Turkish court examines party, bombing toll rises

Turkish court examines party, bombing toll rises

Turkey's highest court began considering on Monday whether to shut down the governing AK Party for Islamist activities against a background of tension following two bomb attacks in Istanbul over the weekend. The blasts killed 17 people and wounded more th
Published 29 Jul, 2008 12:00am
No Jerusalem deal with Palestinians in 2008: Olmert

No Jerusalem deal with Palestinians in 2008: Olmert

Israeli Prime Minister Ehud Olmert told parliament on Monday a partial deal with the Palestinians could be reached this year on borders, security and refugees but not Jerusalem, officials said. Olmert, who earlier this month said Israel and the Palestinia
Published 29 Jul, 2008 12:00am
Suicide bombers kill 50 in Iraq

Suicide bombers kill 50 in Iraq

Three female suicide bombers killed 28 people and wounded 92 when they blew themselves up among Shias walking through the streets of Baghdad on a religious pilgrimage on Monday, Iraqi police said. In the northern oil city of Kirkuk a suicide bomber killed
Published 29 Jul, 2008 12:00am
Kuwait police break up demonstration by Asian workers

Kuwait police break up demonstration by Asian workers

Riot policemen wielding batons on Monday broke up a demonstration in Kuwait by Bangladeshi workers and made several arrests among the protesters who were demanding a pay rise. The incident occurred in Jelib al-Shuyukh, north-west of Kuwait City, scene of
Published 29 Jul, 2008 12:00am
Qantas jet forced to make emergency landing

Qantas jet forced to make emergency landing

A Qantas jet was forced to make an emergency landing at Adelaide airport Monday night after a door opened during a flight to Melbourne, a report said. The Herald Sun newspaper quoted unnamed passengers as saying a door opened causing "chaos" in the cabin
Published 29 Jul, 2008 12:00am
Iran seeks 'common ground' with West: Ahmadinejad

Iran seeks 'common ground' with West: Ahmadinejad

Iranian President Mahmoud Ahmadinejad said on Monday that Iran will seek "common ground" with the United States and five other world powers that have proposed incentives for Tehran to freeze its nuclear enrichment program. NBC News, which interviewed Ahma
Published 29 Jul, 2008 12:00am
UN slams France's immigration policies, prison overcrowding

UN slams France's immigration policies, prison overcrowding

The UN Human Rights Committee has slammed France's immigration policies and expressed concern about overcrowding and poor conditions in its prisons, according to documents seen Monday by AFP. It also asked France to re-examine a new law under which people
Published 29 Jul, 2008 12:00am
Millions wasted in Iraq reconstruction contract

Millions wasted in Iraq reconstruction contract

Millions of dollars were likely wasted on a 900 million dollar army contract to build courthouses, prisons, police and other security facilities in Iraq, an audit released Monday has found. The audit by the congressionally appointed Special Inspector Gene
Published 29 Jul, 2008 12:00am
General Assembly endorses Pillay as new UN rights chief

General Assembly endorses Pillay as new UN rights chief

The General Assembly on Monday approved by consensus the appointment of South African judge Navanethem Pillay as the UN new high commissioner for human rights to succeed Louise Arbour of Canada. Pillay, who was formally nominated by UN chief Ban Ki-moon l
Published 29 Jul, 2008 12:00am
Typhoon kills one in Taiwan, heads for China

Typhoon kills one in Taiwan, heads for China

A typhoon dumped up to 700 mm (28 ins) of rain on Taiwan on Monday before heading to China, killing one person, injuring five, causing widespread flooding and closing businesses and financial markets. Typhoon Fung-Wong, Chinese for phoenix, was expected t
Published 29 Jul, 2008 12:00am
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