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Nov 26, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2008-08-19
Gold and platinum higher in Tokyo market

Gold and platinum higher in Tokyo market

Gold rallied nearly 2 percent to above $800 an ounce on Monday as the dollar slipped from highs against the euro and oil prices rose, fuelling active short-covering after heavy sell-offs last week. Silver jumped more than 4 percent, and platinum and palla
Published 19 Aug, 2008 12:00am
Indian sugar futures drop

Indian sugar futures drop

Indian sugar futures erased morning gains and fell on Monday afternoon, as profit-taking emerged after prices had jumped 5 percent last week and on market talk the government may step in to curb prices. At 2:27 pm (0857 GMT), the benchmark September contr
Published 19 Aug, 2008 12:00am
Oil rises on Gulf of Mexico storm threat

Oil rises on Gulf of Mexico storm threat

Oil rose more than $1 to top $115 a barrel on Monday, as investors eyed a potential supply threat from Tropical storm Fay to oil and gas production in the Gulf of Mexico. But analysts said a rising US dollar and news that Russia would begin withdrawing it
Published 19 Aug, 2008 12:00am
India may step up wheat supply to ease prices

India may step up wheat supply to ease prices

India may sell 4 million tonnes of subsidised wheat in the open market from October to reduce prices in the coming festival season and control inflation, the Business Standard reported on Monday, without citing any sources. The wheat would be sold to both
Published 19 Aug, 2008 12:00am
'Government striving to make PC knowledge house'

'Government striving to make PC knowledge house'

The Government is endeavouring to make Planning Commission (PC) a Knowledge House, which would lead Policy Intervention Strategies and introduce a new culture of learning through sharing. This was stated by the Secretary Planning Sohail Safdar while inaug
Published 19 Aug, 2008 12:00am
Nymex crude falls; Russia to pull out of Georgia

Nymex crude falls; Russia to pull out of Georgia

US crude futures dipped on Monday after Russia said it would begin withdrawing forces from Georgia, a key energy supply route from the Caspian to Europe. Nymex crude for September delivery fell 22 cents to $113.55 a barrel in Globex electronic trading by
Published 19 Aug, 2008 12:00am
''It''s time for better economic policies''

''It''s time for better economic policies''

Prominent economists have termed the president resignation as positive sign for the improvement of the economy. They said that the end of political instability will help the government to focus more on the economic issues. They said that due to the politi
Published 19 Aug, 2008 12:00am
Philippines says to miss 2008 rice, corn output goal

Philippines says to miss 2008 rice, corn output goal

The Philippines' annual rice and corn production this year is likely to fall short of targets as rising costs of fertiliser inputs bite, new forecasts from the government's agriculture statistics office showed on Monday.
Published 19 Aug, 2008 12:00am
'It's time for better economic policies'

'It's time for better economic policies'

Prominent economists have termed the president resignation as positive sign for the improvement of the economy. They said that the end of political instability will help the government to focus more on the economic issues. They said that due to the politi
Published 19 Aug, 2008 12:00am
Australian wheat crop under pressure

Australian wheat crop under pressure

The prospects for a bumper Australian wheat crop have dimmed after drought deepened in the key eastern growing state of New South Wales ahead of spring, when good rainfall is crucial. The state, which provides around 30 percent of Australia's national whe
Published 19 Aug, 2008 12:00am
'It's time for better economic policies'

'It's time for better economic policies'

Prominent economists have termed the president resignation as positive sign for the improvement of the economy. They said that the end of political instability will help the government to focus more on the economic issues. They said that due to the politi
Published 19 Aug, 2008 12:00am
Malaysian tin gains

Malaysian tin gains

Malaysian tin climbed 2.7 percent on Monday, outstripping gains on London Metal Exchange as tight domestic supplies and rising demand lifted the market, one dealer said.
Published 19 Aug, 2008 12:00am
Businessmen welcome Musharraf''s decision

Businessmen welcome Musharraf''s decision

Business community has welcomed President Pervez Musharraf''s resignation and hoped that his exit would bring political and economic stability in the country. They said that the government must concentrate on serious economic issues and adopt policies to
Published 19 Aug, 2008 12:00am
Asian physical rubber prices

Asian physical rubber prices

Asian physical rubber prices fell on Monday, although many traders expected prices to recover on expectations that bargain hunting would emerge. One Thai-based trader said prices had fallen due to the decline in Tokyo futures prices and an increase in ava
Published 19 Aug, 2008 12:00am
Businessmen welcome Musharraf's decision

Businessmen welcome Musharraf's decision

Business community has welcomed President Pervez Musharraf's resignation and hoped that his exit would bring political and economic stability in the country. They said that the government must concentrate on serious economic issues and adopt policies to b
Published 19 Aug, 2008 12:00am
Malaysian rubber output up

Malaysian rubber output up

Output of natural rubber in Malaysia, one of the world's leading producers, rose 5.6 percent from a month earlier to 88,449 tonnes in June, the state-run Malaysian Rubber Board said on Monday. But exports of mainly standard Malaysian rubber fell 3.7 perce
Published 19 Aug, 2008 12:00am
Businessmen welcome Musharraf's decision

Businessmen welcome Musharraf's decision

Business community has welcomed President Pervez Musharraf's resignation and hoped that his exit would bring political and economic stability in the country. They said that the government must concentrate on serious economic issues and adopt policies to b
Published 19 Aug, 2008 12:00am
Tokyo rubber rallies

Tokyo rubber rallies

Tokyo rubber futures rose about 1 percent to finish above 302 yen on Monday on gains in oil and gold, bouncing back from a three-month low hit late last week. The key Tokyo Commodity Exchange rubber contract for January delivery finished at 302.7 yen, up
Published 19 Aug, 2008 12:00am
US, Japan, Taiwan launch WTO high-tech challenge against EU

US, Japan, Taiwan launch WTO high-tech challenge against EU

The United States, Japan and Taiwan have asked the WTO to settle their dispute against the European Union over its duties on certain high-technology imports, the US Trade Representative Susan Schwab said Monday.
Published 19 Aug, 2008 12:00am
Malaysian palm oil futures make sharp gains

Malaysian palm oil futures make sharp gains

Malaysian crude palm oil futures rose 1.4 percent on Monday, bouncing off one-year lows hit earlier in the session as investors were torn between firmer commodity prices and talk that Asia buyers will default cargoes. Palm oil prices have slid 18.5 percen
Published 19 Aug, 2008 12:00am
EMC directs ministry to submit Ramazan package details

EMC directs ministry to submit Ramazan package details

The Economic Monitoring Committee (EMC) which met here on Monday directed the Ministry of Industries and Production to submit details of the proposed Ramzan Package to be announced for giving relief to consumers on essential food items' prices.
Published 19 Aug, 2008 12:00am
Grain market closed

Grain market closed

The grain and oilseed markets remained closed on account of Shab-e-Baraat holiday on Monday.
Published 19 Aug, 2008 12:00am
Minimum export price of non-basmati rice may go: Reap

Minimum export price of non-basmati rice may go: Reap

Pakistan is likely to remove a minimum export price of 750 dollars per tonne imposed on non-basmati rice to boost overseas sales after forecasts of a bumper harvest, a top industry official said on Monday. "We are expecting the minimum export price on Irr
Published 19 Aug, 2008 12:00am
HRW wheat steady

HRW wheat steady

Basis bids for hard red winter wheat in the US Plains were steady on Monday, with farmers remaining reluctant sellers absent price spikes. Basis offers were steady, taking in stride a USDA announcement that exporters had reported the sale of 689,310 tonne
Published 19 Aug, 2008 12:00am
Who will be the next president?

Who will be the next president?

Musharraf's exit has given birth to wild speculations about who will be replacing him in the next 30 days. The names that have emerged so far are: Asif Zardari, Faryal Talpur, and former defence minister from PPP Aftab Shahban Mirani. According to western
Published 19 Aug, 2008 12:00am
Thailand plans gold futures trade from this year

Thailand plans gold futures trade from this year

Thailand plans to start trading in gold futures by the end of this year, the head of the futures exchange said on Monday, but gold bullion traders are worried about their livelihood and are seeking a delay. "The trading system and legislative process are
Published 19 Aug, 2008 12:00am
Who will be the next president?

Who will be the next president?

Musharraf's exit has given birth to wild speculations about who will be replacing him in the next 30 days. The names that have emerged so far are: Asif Zardari, Faryal Talpur, and former defence minister from PPP Aftab Shahban Mirani. According to western
Published 19 Aug, 2008 12:00am
Rates almost stay put on cotton market

Rates almost stay put on cotton market

Firmness prevailed on the cotton market on Monday as prices maintained the weekend levels in process of trading, dealers said. The official spot rate was unchanged at Rs 4200, they said. In the ready business, the phutti prices in Sindh were same at Rs 19
Published 19 Aug, 2008 12:00am
Dignitaries pay farewell calls on Musharraf

Dignitaries pay farewell calls on Musharraf

A number of dignitaries on Monday paid farewell calls on outgoing President Pervez Musharraf here at the Aiwan-e-Sadr. These included Chief Justice of Pakistan Justice Abdul Hameed Dogar, Chairman Joint Chiefs of Staff Committee General Tariq Majeed, Chie
Published 19 Aug, 2008 12:00am
US Midwest corn and soya bids down

US Midwest corn and soya bids down

Spot basis bids for soyabeans and corn fell at river terminals in the US Midwest Monday amid rising barge freight, dealers said. Bids at interior locations were mostly steady; farmer selling was slow. But higher CBOT corn, soya and wheat futures in Asian
Published 19 Aug, 2008 12:00am
Resignation success of democracy: Sherry

Resignation success of democracy: Sherry

Federal Minister for Information, Sherry Rehman has termed the resignation of Pervez Musharraf as success of democracy saying that it is a triumph for democracy and vindication of nation's determined stand for a civilian political order.
Published 19 Aug, 2008 12:00am
CIF Gulf soyabean and corn steady

CIF Gulf soyabean and corn steady

US Gulf CIF soyabean and corn barge basis values held steady on Monday after freight rates rose last week amid low-water problems, traders said. Hard wheat basis up 5-10 cents a bushel after futures prices fell about 35 cents on Friday. Weaker dollar supp
Published 19 Aug, 2008 12:00am
'Local government system to be reviewed'

'Local government system to be reviewed'

Prime Minister Yousuf Raza Gilani on Monday said the government would objectively review the existing system of local governance and make every effort to establish a legitimate and sustainable system. He was addressing a two-day national workshop on 'Succ
Published 19 Aug, 2008 12:00am
Cocaine threatens stability in fragile West Africa

Cocaine threatens stability in fragile West Africa

Cocaine smuggling is fanning political turbulence and undermining investment confidence in West Africa, where drugs experts say Latin American gangs threaten to transform small nations into "narco-states". Unexpected seizures from Guinea-Bissau and Maurit
Published 19 Aug, 2008 12:00am
Health, education government's foremost priority: Gilani

Health, education government's foremost priority: Gilani

Prime Minister Syed Yousuf Raza Gilani on Monday said the provision of better health and education facilities to masses is the foremost priority of the present government. "Healthy children are an asset for the nation and can play an effective role for th
Published 19 Aug, 2008 12:00am
Philippines drives rebels out; 34 killed

Philippines drives rebels out; 34 killed

Hundreds of Muslim guerrillas attacked two towns in the Philippines troubled south on Monday, killing 34 people, burning homes and looting banks before being driven out by the military. The attack was the bloodiest since a territorial deal with the Moro I
Published 19 Aug, 2008 12:00am
Scrap ships crowd Bangladesh shore on demand for cheap steel

Scrap ships crowd Bangladesh shore on demand for cheap steel

Omar Faruq winces in pain as medics stitch up his leg in a makeshift first aid hut at a ship-breaking yard on Bangladesh's south-eastern coast. The 16-year-old needed five stitches after a sharp corner of a metal sheet sliced open his shin, forcing him of
Published 19 Aug, 2008 12:00am
Gilani greets nation over end of 'dictatorship'

Gilani greets nation over end of 'dictatorship'

Prime Minister Syed Yousaf Raza Gilani on Monday congratulated the nation over the end of what he called 'dictatorship', terming the resignation of the President as victory of the democracy and democratic forces.
Published 19 Aug, 2008 12:00am
Polish support for US missile shield increases

Polish support for US missile shield increases

Support among Poles for hosting elements of a US missile shield on their territory has increased despite strong opposition from Russia, a survey showed on Monday. Last week Poland and the United States signed a preliminary deal on installing 10 ground-bas
Published 19 Aug, 2008 12:00am
Tariq Aziz resigns

Tariq Aziz resigns

Secretary National Security Council and close aide of the President Musharraf Tariq Aziz has tendered his resignation, Aaj TV reported on Monday night. According to the channel, Tariq Aziz tendered his resignation on Sunday and left for London in B
Published 19 Aug, 2008 12:00am
Israel publishes list of 199 Palestinians to be freed

Israel publishes list of 199 Palestinians to be freed

The longest-serving Palestinian prisoner in Israel was included in an official list on Monday of 199 people due to be released next week in a declared bid to bolster President Mahmoud Abbas. Said al-Atabeh, 57, of the Democratic Front for the Liberation o
Published 19 Aug, 2008 12:00am
US praises Musharraf, pledges Pakistan support

US praises Musharraf, pledges Pakistan support

The United States praised President Pervez Musharraf as a committed partner against terrorism and pledged after his resignation on Monday to keep a good relationship with the new government and fight extremism together. The White House said President Geor
Published 19 Aug, 2008 12:00am
Senegal newspaper raids deepen bitter media dispute

Senegal newspaper raids deepen bitter media dispute

Attackers ransacked the offices of two independent Senegalese newspapers at the weekend, editors said on Monday, deepening a bitter power struggle between authorities and non-state media in the West African country. Unidentified men destroyed writing and
Published 19 Aug, 2008 12:00am
US praises Musharraf, pledges Pakistan support

US praises Musharraf, pledges Pakistan support

The United States praised President Pervez Musharraf as a committed partner against terrorism and pledged after his resignation on Monday to keep a good relationship with the new government and fight extremism together. The White House said President Geor
Published 19 Aug, 2008 12:00am
WFP says employee killed in southern Somalia

WFP says employee killed in southern Somalia

Gunmen in southern Somalia killed an employee of the UN's World Food Programme (WFP), the relief agency said on Monday. Abdulkadir Diad Mohamed, a Somali who joined WFP in June as an administration and finance assistant, was apparently abducted and then s
Published 19 Aug, 2008 12:00am
Soomro takes over as acting president

Soomro takes over as acting president

Chairman Senate Muhammadmian Soomro on Monday took over as Acting President, after the resignation tendered by President Pervez Musharraf was accepted. Meanwhile, Speaker National Assembly Dr Fehmida Mirza signed and accepted the resignation of President
Published 19 Aug, 2008 12:00am
Zimbabwe's Tsvangirai seeks help from region

Zimbabwe's Tsvangirai seeks help from region

Zimbabwean opposition leader Morgan Tsvangirai will ask regional leaders to help resolve the deadlock in power-sharing talks with President Robert Mugabe's party, an opposition spokesman said on Monday. A weekend summit of leaders of the Southern African
Published 19 Aug, 2008 12:00am
Soomro takes over as acting president

Soomro takes over as acting president

Chairman Senate Muhammadmian Soomro on Monday took over as Acting President, after the resignation tendered by President Pervez Musharraf was accepted. Meanwhile, Speaker National Assembly Dr Fehmida Mirza signed and accepted the resignation of President
Published 19 Aug, 2008 12:00am
Indian central bank clerks to strike

Indian central bank clerks to strike

A union that represents mostly clerks and typists at India's central bank has called a one-day strike on Wednesday to protest against job losses and outsourcing of work, a senior union official said on Monday. The Reserve Bank of India's (RBI) staff dropp
Published 19 Aug, 2008 12:00am
Musharraf Bows Out

Musharraf Bows Out

President Musharraf announced his resignation on Monday, thereby ending a nearly nine-year highly controversial career as head of state. The resignation not only saved him from what would have been the first impeachment of a president in the history of Pa
Published 19 Aug, 2008 12:00am
Foreign trips to Canada drop 13 percent

Foreign trips to Canada drop 13 percent

Foreigners took 12.9 percent fewer trips to Canada in June than a year earlier, Statistics Canada said on Monday, due in part to the stronger Canadian dollar, higher fuel prices and a tougher economy. Four out of five of the trips were made by Americans,
Published 19 Aug, 2008 12:00am
Musharraf Bows Out

Musharraf Bows Out

President Musharraf announced his resignation on Monday, thereby ending a nearly nine-year highly controversial career as head of state. The resignation not only saved him from what would have been the first impeachment of a president in the history of Pa
Published 19 Aug, 2008 12:00am
BAA completes $25 billion debt restructuring

BAA completes $25 billion debt restructuring

Britain's Spanish-owned airports operator BAA said Monday that it has completed a major restructuring of its debt which totals 13.3 billion pounds (16.8 billion euros, 24.8 billion dollars). "BAA is today (Monday) pleased to announce the successful comple
Published 19 Aug, 2008 12:00am
Fannie, Freddie subordinated debt CDS hit record

Fannie, Freddie subordinated debt CDS hit record

The cost to insure the subordinated debt of Fannie Mae and Freddie Mac hit new highs on Monday, a day after Barron's reported an increasing likelihood the US Treasury may essentially take over the mortgage finance companies. Merrill Lynch analyst Kenneth
Published 19 Aug, 2008 12:00am
Fannie, Freddie subordinated debt CDS hit record

Fannie, Freddie subordinated debt CDS hit record

The cost to insure the subordinated debt of Fannie Mae and Freddie Mac hit new highs on Monday, a day after Barron's reported an increasing likelihood the US Treasury may essentially take over the mortgage finance companies. Merrill Lynch analyst Kenneth
Published 19 Aug, 2008 12:00am
Asia's foreign exchange reserves may not be too high after all

Asia's foreign exchange reserves may not be too high after all

A new International Monetary Fund study may fuel an uneasy feeling stirring in financial markets that some Asian central banks are drawing down their currency reserves a bit too fast for comfort. In a challenge to conventional wisdom, including that of th
Published 19 Aug, 2008 12:00am
Mitsubishi UFJ Financial clinches deal for UnionBanCal

Mitsubishi UFJ Financial clinches deal for UnionBanCal

Japanese megabank Mitsubishi UFJ Financial said Monday that it had sealed a deal to take full control of its US subsidiary Union Bank of California with an increased 3.5-billion-dollar bid. The two companies have signed a "definitive merger agreement" for
Published 19 Aug, 2008 12:00am
Opec may cut output quota

Opec may cut output quota

The Organisation of Petroleum Exporting Countries may decide to cut the cartel's oil output quota as the price of crude risks falling under 100 dollars a barrel, energy consultancy CGES said Monday. "The worsening economic outlook suggests that oil prices
Published 19 Aug, 2008 12:00am
France calls for joint EU response to turmoil

France calls for joint EU response to turmoil

French Prime Minister Francois Fillon on Monday urged economy ministers from the eurozone and the European Union to come up with a common response to economic turmoil facing the bloc. Rejecting as "not reasonable" talk of a possible recession in France af
Published 19 Aug, 2008 12:00am
BHP Billiton posts record $15.4 billion profit

BHP Billiton posts record $15.4 billion profit

The world's biggest miner BHP Billiton on Monday announced record annual net profits of 15.39 billion US dollars (10.46 billion euros), driven by soaring commodity prices and strong Asian demand.
Published 19 Aug, 2008 12:00am
BHP Billiton posts record $15.4 billion profit

BHP Billiton posts record $15.4 billion profit

The world's biggest miner BHP Billiton on Monday announced record annual net profits of 15.39 billion US dollars (10.46 billion euros), driven by soaring commodity prices and strong Asian demand.
Published 19 Aug, 2008 12:00am
Citigroup's new Asia chief executive reorganises by region

Citigroup's new Asia chief executive reorganises by region

Citigroup Inc, the largest US bank by assets, unveiled a reorganisation of its Asia-Pacific business on Monday that gives regional heads increased authority across the bank's sprawling product lines. Citigroup's Asia business will be split geographically
Published 19 Aug, 2008 12:00am
Eurozone edges into trade deficit

Eurozone edges into trade deficit

A ballooning energy deficit and slowing trade with the United States helped to push the eurozone into an unexpected trade deficit in June, adding to the gloomy outlook for the single currency area. The external trade deficit of the 15 countries using the
Published 19 Aug, 2008 12:00am
Eurozone price risks have risen further: Buba

Eurozone price risks have risen further: Buba

Eurozone inflation risks have risen and weaker economic growth will not automatically offset them, the Bundesbank said in a report released on Monday. Inflation expectations in the eurozone have also remained above levels consistent with mid-term price st
Published 19 Aug, 2008 12:00am
'Azeri oil exports by rail to Georgia halted'

'Azeri oil exports by rail to Georgia halted'

BP Plc said on Monday that exports of Azeri oil by rail to Georgia had stopped after the line was damaged in Georgia, which accused Russian troops of blowing up a railway bridge. The halt further limits BP's options in shipping oil from Caspian Sea fields
Published 19 Aug, 2008 12:00am
WTO farm mediator to leave at end of year

WTO farm mediator to leave at end of year

The chairman of agriculture negotiations at the World Trade Organisation will leave Geneva towards the end of this year, New Zealand's Ministry of Foreign Affairs and Trade said on Monday. New Zealand's WTO ambassador Crawford Falconer will be returning t
Published 19 Aug, 2008 12:00am
South Locomotive jumps 58 percent in Shanghai debut

South Locomotive jumps 58 percent in Shanghai debut

China South Locomotive jumped 58 percent in its Shanghai stock market debut on Monday, buoyed by a low IPO price and its dominance in China's train manufacturing sector, after it raised $1.5 billion in Asia's third-largest share offering this year.
Published 19 Aug, 2008 12:00am
South Locomotive jumps 58 percent in Shanghai debut

South Locomotive jumps 58 percent in Shanghai debut

China South Locomotive jumped 58 percent in its Shanghai stock market debut on Monday, buoyed by a low IPO price and its dominance in China's train manufacturing sector, after it raised $1.5 billion in Asia's third-largest share offering this year.
Published 19 Aug, 2008 12:00am
B&B bankers left with over 70 percent of rights issue

B&B bankers left with over 70 percent of rights issue

Bankers for Bradford & Bingley have been left to sell over 70 percent of its 400 million pound cash call, the UK lender said, as it hired the former head of rival Alliance & Leicester to draw a line under its troubles. The mortgage bank, which has seen a
Published 19 Aug, 2008 12:00am
B&B bankers left with over 70 percent of rights issue

B&B bankers left with over 70 percent of rights issue

Bankers for Bradford & Bingley have been left to sell over 70 percent of its 400 million pound cash call, the UK lender said, as it hired the former head of rival Alliance & Leicester to draw a line under its troubles. The mortgage bank, which has seen a
Published 19 Aug, 2008 12:00am
BoJ seen holding rates steady

BoJ seen holding rates steady

Japan's central bank began a two-day meeting Monday at which it is expected to hold interest rates steady in the face of a shrinking economy and the fastest inflation in a decade. The Bank of Japan has kept its super-low interest rates unchanged at 0.5 pe
Published 19 Aug, 2008 12:00am
Singapore exports unexpectedly fall as demand drops

Singapore exports unexpectedly fall as demand drops

Singapore's non-oil exports unexpectedly fell in July as trade dropped sharply with its biggest markets the United States and Europe, providing evidence the global economic slowdown is hitting Asia's exporters. July's 2.2 percent fall in non-oil exports a
Published 19 Aug, 2008 12:00am
Rise of mini-mills prompts scrabble for steel scrap

Rise of mini-mills prompts scrabble for steel scrap

Steel firms taking a massive bet on furnaces fed on cheaper scrap metal rather than more traditional iron ore could find themselves in trouble as scrap supplies become both more expensive and increasingly difficult to find. Around 40 percent of the world'
Published 19 Aug, 2008 12:00am
Lowe's profit beats Wall Street view

Lowe's profit beats Wall Street view

Retailer Lowe's Cos reported a higher-than-expected quarterly profit on Monday, helped by US consumers spending tax rebate checks, and raised its full-year forecast, sending shares up about 2 percent. Lowe's, the second-largest home-improvement chain behi
Published 19 Aug, 2008 12:00am
Lowe's profit beats Wall Street view

Lowe's profit beats Wall Street view

Retailer Lowe's Cos reported a higher-than-expected quarterly profit on Monday, helped by US consumers spending tax rebate checks, and raised its full-year forecast, sending shares up about 2 percent. Lowe's, the second-largest home-improvement chain behi
Published 19 Aug, 2008 12:00am
South Korea STX buys out Aker Yards in tender offer

South Korea STX buys out Aker Yards in tender offer

South Korea's STX Group said on Monday it was more than doubling its stake in No 1 European ship maker Aker Yards, to 88.4 percent through a $635.5 million tender offer as it seeks to grow its portfolio of businesses. The acquisition of Aker Yards gives S
Published 19 Aug, 2008 12:00am
POSCO seeks Daewoo bid partners, Doosan drops out

POSCO seeks Daewoo bid partners, Doosan drops out

Doosan Group pulled out of the bidding for Daewoo Shipbuilding on Monday, hitting shares of the world's No 3 shipyard, while steel firm POSCO said it was seeking partners to make a bid. Shares in Doosan group companies rose after it said it would not bid
Published 19 Aug, 2008 12:00am
POSCO seeks Daewoo bid partners, Doosan drops out

POSCO seeks Daewoo bid partners, Doosan drops out

Doosan Group pulled out of the bidding for Daewoo Shipbuilding on Monday, hitting shares of the world's No 3 shipyard, while steel firm POSCO said it was seeking partners to make a bid. Shares in Doosan group companies rose after it said it would not bid
Published 19 Aug, 2008 12:00am
Michael Page urges bid deadline as profits rise

Michael Page urges bid deadline as profits rise

British recruitment firm Michael Page urged the Take-over Panel to impose a deadline for Swiss suitor Adecco to make a formal bid on Monday as it reported an increase in first-half pretax profits. The group was responding to a statement from Adecco, the w
Published 19 Aug, 2008 12:00am
Michael Page urges bid deadline as profits rise

Michael Page urges bid deadline as profits rise

British recruitment firm Michael Page urged the Take-over Panel to impose a deadline for Swiss suitor Adecco to make a formal bid on Monday as it reported an increase in first-half pretax profits. The group was responding to a statement from Adecco, the w
Published 19 Aug, 2008 12:00am
Swiss retail sales growth slows

Swiss retail sales growth slows

Swiss retail sales growth slowed in June, despite the Euro 2008 soccer championship, data showed on Monday, bolstering views that the Swiss National Bank may have to lower interest rates in order to spark growth. Retail sales grew 0.7 percent year-on-year
Published 19 Aug, 2008 12:00am
Australian shares slightly up

Australian shares slightly up

The Australian share market closed up 0.1 percent on Monday as resource stocks advanced and investors anticipated a good profit result from BHP Billiton, dealers said. The benchmark S&P/ASX200 index was up 3.3 points at 4,985 while the broader All Ordinar
Published 19 Aug, 2008 12:00am
Asian bond spreads end flat

Asian bond spreads end flat

Asian bond spreads were range-bound on Monday as a recent slump in oil prices has eased inflation concerns though doubts still remained about the health of the global economy. A key measure of risk aversion, the iTRAXX Asia ex-Japan high-yield index, narr
Published 19 Aug, 2008 12:00am
Asian bond spreads end flat

Asian bond spreads end flat

Asian bond spreads were range-bound on Monday as a recent slump in oil prices has eased inflation concerns though doubts still remained about the health of the global economy. A key measure of risk aversion, the iTRAXX Asia ex-Japan high-yield index, narr
Published 19 Aug, 2008 12:00am
Malaysian shares fall

Malaysian shares fall

Malaysian share prices closed 1.0 percent lower on Monday amid profit-taking and concerns over a global economic slowdown, dealers said. The Kuala Lumpur Composite Index shed 10.69 points to end at 1,084.36 in modest volume of 333.2 million shares worth 6
Published 19 Aug, 2008 12:00am
Taiwan stocks decline

Taiwan stocks decline

Taiwan stocks fell 2.72 percent on Monday to a near two-week closing low, hurt by a sell-off of major financial holding firms such as Cathay Financial on fears that some banks might be involved in possible money laundering by former president Chen Shui-bi
Published 19 Aug, 2008 12:00am
China stocks slide 5.3 percent

China stocks slide 5.3 percent

China's main stock index tumbled more than 5 percent on Monday to a new 20-month closing low, hit by fears that slowing economic growth will stifle the expansion of corporate profits. The Shanghai Composite Index ended down 5.34 percent at 2,319.868 point
Published 19 Aug, 2008 12:00am
Seoul shares fall on higher oil

Seoul shares fall on higher oil

Seoul shares closed lower on Monday after a rebound in oil prices sent exporters lower, while Daewoo Shipbuilding tumbled after Doosan Group said it would not bid for the South Korean shipbuilder. The Korea Composite Stock Price Index closed 0.28 percent
Published 19 Aug, 2008 12:00am
Indian shares dip

Indian shares dip

Indian shares closed 0.53 percent lower on Monday amid concerns about slowing economic growth and high inflation, dealers said. The benchmark 30-share Sensex index fell 78.52 points to 14,645.66, falling for the fourth consecutive trading day.
Published 19 Aug, 2008 12:00am
Nikkei rises, exporters gain

Nikkei rises, exporters gain

The Nikkei average rose 1.1 percent on Monday as exporters gained on a softer yen and a recent fall in oil prices that eased worries about corporate earnings amid a deteriorating outlook for the global economy. The benchmark index also got a boost from co
Published 19 Aug, 2008 12:00am
New Zealand stocks slip

New Zealand stocks slip

New Zealand shares closed down 0.5 percent on Monday as one of the market leaders, Fisher & Paykel Appliances, saw its shares plunge, dealers said. The benchmark NZX-50 index fell 16.99 points to 3,334.14 on turnover worth 112 million dollars (79.5 millio
Published 19 Aug, 2008 12:00am
Singapore shares plunge

Singapore shares plunge

Singapore share prices closed 0.73 percent lower on Monday following falls in Hong Kong and mainland China that weakened sentiment, dealers said. The blue chip Straits Times Index declined 20.52 points to 2,776.98 on volume of 948 million shares worth 1.0
Published 19 Aug, 2008 12:00am
South Korean bonds sag

South Korean bonds sag

South Korean government bonds extended losses on Monday, with yields advancing to a near 1-month high due to renewed inflation fears on the won's fall to a six-week low and new supplies from bond auctions. Increasing bond sales by local banks also dampene
Published 19 Aug, 2008 12:00am
South Korean bonds sag

South Korean bonds sag

South Korean government bonds extended losses on Monday, with yields advancing to a near 1-month high due to renewed inflation fears on the won's fall to a six-week low and new supplies from bond auctions. Increasing bond sales by local banks also dampene
Published 19 Aug, 2008 12:00am
Japanese government bonds edge up

Japanese government bonds edge up

Japanese government bond futures edged up on Monday as worries about the domestic and global economies underscored the prevailing view that the Bank of Japan will keep interest rates steady in the coming months. The market also drew support from gains in
Published 19 Aug, 2008 12:00am
Japanese government bonds edge up

Japanese government bonds edge up

Japanese government bond futures edged up on Monday as worries about the domestic and global economies underscored the prevailing view that the Bank of Japan will keep interest rates steady in the coming months. The market also drew support from gains in
Published 19 Aug, 2008 12:00am
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