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Nov 25, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2008-08-26
Vietnam 2008 rice shipments down

Vietnam 2008 rice shipments down

Vietnam has exported 3 million tonnes of rice so far this year, a drop of 5.7 percent from the same period last year, while its revenues have almost doubled, the Vietnam Food Association said on Monday. Revenues from the export of the grain between the st
Published 26 Aug, 2008 12:00am
Malaysian palm oil lower

Malaysian palm oil lower

Malaysian crude palm oil futures fell 4.2 percent on Monday on increasing supply concerns and weaker crude oil prices, dealers said. The benchmark November crude palm oil contract on the Bursa Malaysia Derivatives Exchange fell 115 ringgit, or 4.2 percent
Published 26 Aug, 2008 12:00am
Spanish producer price inflation at 23-year high

Spanish producer price inflation at 23-year high

Soaring energy costs sent Spanish producer prices rising to a 23-1/2 year high in July in what many analysts saw as a peak to producer inflation. The annual rate of 10.2 percent was the highest since November 1984 and was driven by a 30.3 percent rise in
Published 26 Aug, 2008 12:00am
Africa's Ecobank opens $2.5 billion cross-border offer

Africa's Ecobank opens $2.5 billion cross-border offer

Pan-African banking group Ecobank on Monday launched a $2.5 billion rights issue and public offer on three West African stock exchanges in the biggest cross-border operation of its kind on the continent. The simultaneous offer, which opened at 1000 GMT on
Published 26 Aug, 2008 12:00am
Malaysia key interest rates kept at 3.5 percent

Malaysia key interest rates kept at 3.5 percent

Malaysia's central bank on Monday maintained its interest rates at 3.50 percent, defying expectations they could be hiked after inflation surged to a 26-year high. Malaysia's inflation skyrocketed last month to 8.5 percent on the escalating cost of fuel a
Published 26 Aug, 2008 12:00am
Malaysian Islamic assets sector set for boom: Maybank

Malaysian Islamic assets sector set for boom: Maybank

Islamic banking assets in Malaysia are expected to post double-digit growth rates annually, propelled by rising demand for sharia-compliant assets, the country's top lender said on Monday.
Published 26 Aug, 2008 12:00am
Indonesia calls for revival of stalled world trade talks

Indonesia calls for revival of stalled world trade talks

Indonesia has called on Brazil, China and India to help revive the stalled Doha Round of trade talks at a meeting in September, a spokesman for President Susilo Bambang Yudhoyono said Monday.
Published 26 Aug, 2008 12:00am
AoT to invest $2.3 billion in Bangkok airport expansion

AoT to invest $2.3 billion in Bangkok airport expansion

Airports of Thailand (AoT) said on Monday it planned to invest 77.9 billion baht ($2.3 billion) to develop the second phase of Bangkok's Suvarnabhumi airport in 2009-2014. The investment, including tax and interest charges, would help increase the capacit
Published 26 Aug, 2008 12:00am
Glanbia buys US body building supplement maker

Glanbia buys US body building supplement maker

Irish food group Glanbia said on Monday it would spend $315 million to buy Optimum Nutrition, Inc, a US maker of supplements for body builders, which will use by-products of its cheese manufacturing. Privately owned Optimum makes protein powders, drinks a
Published 26 Aug, 2008 12:00am
BoJ governor eyes risk of keeping low rates for too long

BoJ governor eyes risk of keeping low rates for too long

The Bank of Japan's head warned on Monday that central banks should be careful about the negative effects from keeping an easy monetary policy for too long and downplayed concern about a lengthy economic contraction in Japan.
Published 26 Aug, 2008 12:00am
Precision Drilling to buy peer Grey Wolf

Precision Drilling to buy peer Grey Wolf

Canada's Precision Drilling Trust will buy US driller Grey Wolf Inc for US $2 billion in cash and stock, creating one of the largest North American oil and gas rig operators, the companies said on Monday. Precision Drilling, Canada's largest oil and gas d
Published 26 Aug, 2008 12:00am
Toyota to lift prices on hybrids, trucks in Japan

Toyota to lift prices on hybrids, trucks in Japan

Toyota Motor Corp said on Monday it would raise suggested retail prices on some hybrid and commercial vehicles in Japan from next month to help absorb higher prices of steel, crude oil and other raw materials. Prices will increase by 3 percent for the Pri
Published 26 Aug, 2008 12:00am
Investment boosts Chile GDP

Investment boosts Chile GDP

Chile's economy expanded a bigger-than-expected 4.3 percent in the second quarter, speeding up from the first quarter thanks to surging investment and domestic demand, the central bank said on Monday. The figure was above the median estimates of a Reuters
Published 26 Aug, 2008 12:00am
Kirin to buy Australia's Dairy Farmers for $780 million

Kirin to buy Australia's Dairy Farmers for $780 million

Japanese brewer Kirin Holdings is expanding its food business in Australia through unit National Foods' $780 million acquisition of Dairy Farmers, helping it diversify away from a shrinking domestic beer market as Japan's population ages.
Published 26 Aug, 2008 12:00am
Taiwan Chinatrust to let Morgan Stanley on board

Taiwan Chinatrust to let Morgan Stanley on board

Chinatrust Financial, Taiwan's top credit card issuer, said on Monday it will let Morgan Stanley have a seat on its board within two months, in the latest sign of foreign interest in Taiwan's overcrowded banking sector.
Published 26 Aug, 2008 12:00am
Sri Lankan cricketers land Bollywood roles

Sri Lankan cricketers land Bollywood roles

Sri Lanka's top cricketers had a shot at Bollywood stardom when they were filmed for an upcoming movie that features some of the best players in the world. Scenes for "Victory," a story of a small town boy who dreams of playing cricket for India, were sho
Published 26 Aug, 2008 12:00am
India's Infosys to buy British firm Axon

India's Infosys to buy British firm Axon

Leading Indian outsourcing company Infosys plans to buy British consultancy Axon Group for 753.1 million dollars as it moves to expand its business advisory footprint, a statement said Monday. The all-cash take-over deal is expected to be completed by Nov
Published 26 Aug, 2008 12:00am
Iran says new oil and gas deals more attractive

Iran says new oil and gas deals more attractive

Iran's revised oil and gas development contracts offer more incentives to foreign firms and Turkey's reservations about the deals reflect an initial lack of knowledge, the Iranian oil minister said on Monday.
Published 26 Aug, 2008 12:00am
Kuwait refers $15 billion refinery to audit bureau

Kuwait refers $15 billion refinery to audit bureau

Kuwait's cabinet agreed on Monday to refer a giant oil refinery project to the state audit bureau after a group of politicians warned the government not to sign the final contracts or face questions in parliament. Oil Minister Mohammad al-Olaim has alread
Published 26 Aug, 2008 12:00am
China considers $54 billion stimulus plan

China considers $54 billion stimulus plan

China is considering a 54-billion-dollar stimulus plan involving tax cuts and government spending, state media said Monday, in another sign that boosting the economy is becoming a priority. The 370-billion-yuan proposal, which has yet to be finalised, inc
Published 26 Aug, 2008 12:00am
Talks offered to save Nano car plant

Talks offered to save Nano car plant

The head of India's West Bengal state invited opposition leaders on Monday for talks in a fresh bid to end protests against a plant building the world's cheapest car. West Bengal Chief Minister Buddhadeb Bhattacharjee issued the invitation in a letter to
Published 26 Aug, 2008 12:00am
Russia to break with WTO accords

Russia to break with WTO accords

Russia decided on Monday to break off some trade agreements reached during negotiations to join the World Trade Organisation, as relations between Moscow and the West grew increasingly tense. The move to withdraw from some of the accords reached over year
Published 26 Aug, 2008 12:00am
BHP to face South Africa competition body

BHP to face South Africa competition body

BHP Billiton, involved in a $128 billion plan to buy rival Rio Tinto, was asked by South Africa's Competition Commission on Monday to provide information to evaluate its bid. BHP, the world's biggest miner, has in turn appealed to the Commission's sister
Published 26 Aug, 2008 12:00am
US existing home sales rise

US existing home sales rise

The pace of existing home sales in the United States rose in July to a 5 million-unit annual rate, the National Association of Realtors said in a report on Monday that showed prices dipped and the inventory of homes hit a record high.
Published 26 Aug, 2008 12:00am
BoE's Bean warns global slowdown will 'drag on'

BoE's Bean warns global slowdown will 'drag on'

Bank of England Deputy Governor Charles Bean warned on Monday that the global economic slowdown is likely to "drag on for some considerable time". The market upheavals which started a year ago have spread to the wider economy, threatening to throw the ind
Published 26 Aug, 2008 12:00am
BNP Paribas buys into Saudi asset management firm

BNP Paribas buys into Saudi asset management firm

France's BNP Paribas has bought a 25 percent stake in the investment arm of Saudi Investment Bank, officials said on Monday, as interest in the booming Gulf Arab economies grows. News of the stake comes less than a week after Saudi Arabia, the largest Gul
Published 26 Aug, 2008 12:00am
Japan's economy package may be $18-27 billion: LDP

Japan's economy package may be $18-27 billion: LDP

Japan's planned economic package to help ease the pain from higher oil and food prices could be worth 2-3 trillion yen ($18-27 billion), the ruling Liberal Democratic Party's (LDP) policy chief said on Monday.
Published 26 Aug, 2008 12:00am
Israel cabinet approves contested 2009 budget draft

Israel cabinet approves contested 2009 budget draft

Israel's cabinet approved the 2009 state budget draft on Monday, but doubts remain that political infighting and possible early elections could torpedo the bill in parliament.
Published 26 Aug, 2008 12:00am
Opec to try to curb oil price fall in September: Iran

Opec to try to curb oil price fall in September: Iran

Iran's oil minister said on Monday he expected Opec to work on preventing the falling trend in crude prices and also to study oversupply in the market when it meets in September, oil ministry news website SHANA said.
Published 26 Aug, 2008 12:00am
China bond yields fall

China bond yields fall

Chinese bond yields continued falling on Monday because of improving money market liquidity and expectations for lower August inflation, but traders said most interest rate swaps were likely to bottom soon. "Longer-term bond yields may fall about 10 basis
Published 26 Aug, 2008 12:00am
China bond yields fall

China bond yields fall

Chinese bond yields continued falling on Monday because of improving money market liquidity and expectations for lower August inflation, but traders said most interest rate swaps were likely to bottom soon. "Longer-term bond yields may fall about 10 basis
Published 26 Aug, 2008 12:00am
Malaysian shares dip

Malaysian shares dip

Malaysian share prices ended 0.6 percent lower on Monday, with declines mostly in plantation stocks on lower crude oil prices, dealers said. They said investors were also cautious ahead of Tuesday's crucial by-election, which will be contested by oppositi
Published 26 Aug, 2008 12:00am
Taiwan stocks end firmer

Taiwan stocks end firmer

Taiwan stocks rose 1.72 percent on Monday, as big tech exporters such as Hon Hai led a rebound from a three-week closing low with solid gains on Wall Street and easing oil prices boosting the market. The gain came even after Taiwan said on Friday the isla
Published 26 Aug, 2008 12:00am
Hong Kong shares post biggest gain in five months

Hong Kong shares post biggest gain in five months

Hong Kong shares posted their biggest single-day jump in five months on Monday, rising 3.5 percent as most blue chips rebounded following a Wall Street rally. Though spurred by bargain hunting and short covering, market watchers expect the rally in local
Published 26 Aug, 2008 12:00am
China stocks end mixed

China stocks end mixed

Chinese stocks closed mixed in very thin trade on Monday. Insurers were strong and oil refiner Sinopec gained after it reported better-than-expected earnings. But many metals shares sagged because of weak product prices. The Shanghai Composite Index ended
Published 26 Aug, 2008 12:00am
Indian shares slightly up

Indian shares slightly up

Indian shares rose 0.34 percent on Monday, posting their second straight day of gains as inflationary concerns eased on lower oil prices. The benchmark 30-share Sensex index rose 48.86 points to 14,450.35, off a day's high of 14,672.69. "Lower oil saw the
Published 26 Aug, 2008 12:00am
JGB futures hit four-month high

JGB futures hit four-month high

Japanese government bond futures hit a four-month high on Monday as some market players rushed to cover short positions, with moves exaggerated by thin trading volume. JGBs slipped in early trade as a fall in US Treasuries late last week and a stock marke
Published 26 Aug, 2008 12:00am
JGB futures hit four-month high

JGB futures hit four-month high

Japanese government bond futures hit a four-month high on Monday as some market players rushed to cover short positions, with moves exaggerated by thin trading volume. JGBs slipped in early trade as a fall in US Treasuries late last week and a stock marke
Published 26 Aug, 2008 12:00am
Australian shares soar

Australian shares soar

Australian shares closed up 1.7 percent on Monday, as solid gains from financial stocks buoyed by a positive lead from Wall Street pushed the market higher, dealers said. The benchmark S&P/ASX 200 index rose 83.5 points to 5,014.9 while the broader All Or
Published 26 Aug, 2008 12:00am
Singapore share jump

Singapore share jump

Singapore share prices closed 0.37 percent higher on Monday in cautious trading as investors awaited this week's release of key US economic data, dealers said. The blue chip Straits Times Index gained 10.15 points to 2,733.45 on volume of 760 million shar
Published 26 Aug, 2008 12:00am
Seoul shares end higher

Seoul shares end higher

Seoul shares closed up on Monday, with Kookmin Bank rising after plans to transform it into a holding company were approved by shareholders, while Hyundai Motor gained on a weaker won. The Korea Composite Stock Price Index closed 0.35 percent higher at 1,
Published 26 Aug, 2008 12:00am
Jakarta shares close up

Jakarta shares close up

Indonesian shares ended 0.3 percent higher on Monday with banks driving an afternoon rebound from earlier lows, dealers said. The Jakarta Composite Index rose 6.7 points to 2,127.22 after initially falling due to weaker global coal prices, which hit heavy
Published 26 Aug, 2008 12:00am
New Zealand stocks rise

New Zealand stocks rise

New Zealand share prices closed up 0.46 percent on Monday, following a big gain in market leader Telecom, dealers said. The benchmark NZX-50 index rose 15.31 points to 3,326.92 on turnover worth 104.7 million New Zealand dollars (73.8 million US). There w
Published 26 Aug, 2008 12:00am
South Korean bonds slip

South Korean bonds slip

South Korean government bond prices fell sharply for a second day on Monday, jolted by concerns about the won's further weakness and its impact on inflation. The won hit a near four-year low against the dollar on persistent global credit worries despite t
Published 26 Aug, 2008 12:00am
South Korean bonds slip

South Korean bonds slip

South Korean government bond prices fell sharply for a second day on Monday, jolted by concerns about the won's further weakness and its impact on inflation. The won hit a near four-year low against the dollar on persistent global credit worries despite t
Published 26 Aug, 2008 12:00am
South Korean won tumbles to four-year low

South Korean won tumbles to four-year low

The won fell 1.6 percent to a near four-year low against the dollar on Monday as the dollar's global strength put additional pressure on the South Korean unit, already hit by foreign sales out of local stocks. Investors shrugged off a sharp drop in oil pr
Published 26 Aug, 2008 12:00am
Taiwan dollar falls

Taiwan dollar falls

The Taiwan dollar fell on Monday to a six-month closing low as fund outflows continued after the US dollar firmed internationally, but gains in the stock market helped limit the fall. The Taiwan dollar finished at T$31.430 to the US dollar, its lowest clo
Published 26 Aug, 2008 12:00am
Swiss franc slips

Swiss franc slips

The Swiss franc weakened against the US dollar on Monday as the greenback gained across the board as concerns abated about the health of the US economy. The franc was also slightly lower against the euro, trading at 1.6208 compared to Friday's New York cl
Published 26 Aug, 2008 12:00am
Australian dollar near seven-month lows

Australian dollar near seven-month lows

The Australian dollar fell towards recent seven-month lows against a buoyant US currency on Monday as worries about a slowing global economy and its impact on commodities continued to worry investors. Oil extended losses on Monday, with gold and metal pri
Published 26 Aug, 2008 12:00am
Growth fears, dollar climb weigh on Asian trade

Growth fears, dollar climb weigh on Asian trade

The South Korean won dipped more than 1.5 percent to its weakest level in nearly four years on Monday, while the Malaysian ringgit fell a percent to a near nine-month low as the US dollar rose broadly. The dollar inched up against major currencies and hit
Published 26 Aug, 2008 12:00am
Kenya shilling holds versus dollar

Kenya shilling holds versus dollar

Kenya's shilling held steady against the dollar in thin trade on Monday and dealers said it would trade in a range for the rest of the session. The commercial banks posted the unit at 68.60/80 against the dollar, similar to Friday's closing level.
Published 26 Aug, 2008 12:00am
Yuan falls sharply versus dollar

Yuan falls sharply versus dollar

The yuan fell back sharply against the dollar in the spot and forwards markets on Monday in response to a global rebound of the US currency. "The yuan is under pressure to consolidate after rising in four out of five days last week. It is most likely to m
Published 26 Aug, 2008 12:00am
Transparency International urges political parties to work together

Transparency International urges political parties to work together

Transparency International (TI) Pakistan congratulates coalition partners and the nation on the successful elimination of eight and half years of dictatorial regime, and peaceful transaction from army rule to democracy in Pakistan, which will be completed
Published 26 Aug, 2008 12:00am
Refreshingly Green-Karara exhibition

Refreshingly Green-Karara exhibition

A babble of excited voices wafted out from Granduer, just off the café boutique studded Zamzama. Behind the glassy doors of the furniture outlet swirled the high pitched chatter of upcoming artists, expatiating their views and works to their friends, and
Published 26 Aug, 2008 12:00am
Governor's monitoring team visits Sindh University

Governor's monitoring team visits Sindh University

The monitoring team of Governor Sindh headed by Major Aftab Lodhi (Retd) special secretary of Governor Sindh for universities in province, noted educationist and other members Dr S.M.Qureshi, Fazeelat Mehdi and Afsheen Anees on Monday visited University o
Published 26 Aug, 2008 12:00am
BA Pass Part-II: Sindh University announces result

BA Pass Part-II: Sindh University announces result

The University of Sindh has announced result of B.A Pass, Part-II (College side) under annual examination of 2007. According to announcement, total 12,890 candidates appeared in the examination while 9,585 candidates passed the examination.
Published 26 Aug, 2008 12:00am
Future of Urdu is in danger: Aali

Future of Urdu is in danger: Aali

Noted Urdu poet, critic, playwright, essayist, columnist and scholar Jamiludin Aali shares his views with Aaj Online Exclusive in a recent interview. He expresses his concerns over the current political turmoil in the country. He is equally concerned at t
Published 26 Aug, 2008 12:00am
APTMA seeks exemption from power tariff hike

APTMA seeks exemption from power tariff hike

All Pakistan Textile Mills Association (APTMA) has urged the government to exempt the export oriented textile industry from the proposed power tariff hike and save it from imminent closure. In a statement here Monday, APTMA Chairman Iqbal Ibrahim said tha
Published 26 Aug, 2008 12:00am
Lasbela Chamber supports Zardari

Lasbela Chamber supports Zardari

Saleem H. Mandviwalla, the leader of the business community of Lasbela and Balochistan and the President Lasbela Chamber of Commerce and Industry and member Managing Committee FPCCI.
Published 26 Aug, 2008 12:00am
Working class to support government in ending poverty: Junaidi

Working class to support government in ending poverty: Junaidi

Senior labour leader Habibuddin Junaidi has said that workers class will stand shoulder to shoulder with the government and will do utmost according to the vision of Shaheed Mohtarma Benazir Bhutto to achieve the objective of ending poverty and give maxim
Published 26 Aug, 2008 12:00am
MyBank announces 25 percent right share

MyBank announces 25 percent right share

MyBank has posted profit after tax of Rs 431.252 million during the half year ending on June 30, 2008, and announced a right share of 25 percent. According to financial result of the bank announced here on Monday, the gross profit of the bank was estimate
Published 26 Aug, 2008 12:00am
MyBank announces 25 percent right share

MyBank announces 25 percent right share

MyBank has posted profit after tax of Rs 431.252 million during the half year ending on June 30, 2008, and announced a right share of 25 percent. According to financial result of the bank announced here on Monday, the gross profit of the bank was estimate
Published 26 Aug, 2008 12:00am
NBP profit declines

NBP profit declines

The consolidated profit after tax of National Bank of Pakistan (NBP) declined to Rs 8.102 billion in the half year period ended June 30, 2008 as compared to Rs 9.151 billion in the corresponding period in 2007. The bank's earning per share stood at Rs 9.0
Published 26 Aug, 2008 12:00am
NBP profit declines

NBP profit declines

The consolidated profit after tax of National Bank of Pakistan (NBP) declined to Rs 8.102 billion in the half year period ended June 30, 2008 as compared to Rs 9.151 billion in the corresponding period in 2007. The bank's earning per share stood at Rs 9.0
Published 26 Aug, 2008 12:00am
Arif Habib Bank profit soars to Rs 212.674 million in half year

Arif Habib Bank profit soars to Rs 212.674 million in half year

The profit after tax of Arif Habib Bank Limited has increased to Rs 212.674 million in the half year period ended June 30, 2008 as compared to Rs 15.068 million in the corresponding period in 2007. The bank's earning per share increased to Re 0.473 in the
Published 26 Aug, 2008 12:00am
Arif Habib Bank profit soars to Rs 212.674 million in half year

Arif Habib Bank profit soars to Rs 212.674 million in half year

The profit after tax of Arif Habib Bank Limited has increased to Rs 212.674 million in the half year period ended June 30, 2008 as compared to Rs 15.068 million in the corresponding period in 2007. The bank's earning per share increased to Re 0.473 in the
Published 26 Aug, 2008 12:00am
Tests clear way for 'Big Bang' experiment

Tests clear way for 'Big Bang' experiment

Tests have cleared the way for the start-up next month of an experiment to restage a mini-version underground of the "Big Bang" which created the universe 15 billion years ago, the project chief said on Monday. Lyn Evans of the European Organisation for N
Published 26 Aug, 2008 12:00am
Israel releases 198 Palestinian prisoners

Israel releases 198 Palestinian prisoners

Israel freed nearly 200 Palestinian prisoners to a hero's welcome in the West Bank on Monday, seeking to bolster President Mahmoud Abbas as US Secretary of State Condoleezza Rice began a new peace mission. Rice, on a 25-hour visit to Israel and the Palest
Published 26 Aug, 2008 12:00am
Opposition MDC wins key speaker post in Zimbabwe

Opposition MDC wins key speaker post in Zimbabwe

Zimbabwe's main opposition party won the vote for parliament speaker on Monday, dealing a blow to President Robert Mugabe in a post-election power struggle. Lovemore Moyo of the Movement for Democratic Change got 110 votes in the 210 member assembly, givi
Published 26 Aug, 2008 12:00am
Conflict caused $2 billion of damage, says Saakashvili

Conflict caused $2 billion of damage, says Saakashvili

Georgia's conflict with Russia caused around two billion dollars (1.4 billion euros) worth of damage in his country, Georgian President Mikheil Saakashvili said in an interview published Monday. Speaking to the Financial Times, Saakashvili said that in ad
Published 26 Aug, 2008 12:00am
US diplomat warns Russia of 'price' of military actions

US diplomat warns Russia of 'price' of military actions

The US ambassador to the UN criticised Russia's recent military actions in Georgia and warned of "a price to pay" if Moscow did not change its ways, in a Monday interview with Austria's news agency. "We need to make it clear to Russia what the price for c
Published 26 Aug, 2008 12:00am
Russia lawmakers recognise Georgia rebel regions

Russia lawmakers recognise Georgia rebel regions

Russia's parliament unanimously approved resolutions on Monday calling for the recognition of two rebel regions of Georgia as independent states, a move likely to worsen already strained relations with the West. Both houses of parliament, which are contro
Published 26 Aug, 2008 12:00am
Supporters of Khaleda Zia go on rampage

Supporters of Khaleda Zia go on rampage

Supporters of Bangladesh's detained former prime minister, Begum Khaleda Zia, went on a rampage in Dhaka on Monday, burning and damaging vehicles in a protest in which one man was killed and nine injured, police said. The protesters were demanding that th
Published 26 Aug, 2008 12:00am
Iraqi girl aborts suicide bombing, surrenders

Iraqi girl aborts suicide bombing, surrenders

A teenage Iraqi girl wearing a vest packed with explosives turned herself in rather than go through with a suicide bombing in a violence-torn city north of Baghdad, police and the US military said. A US military statement said the girl surrendered to poli
Published 26 Aug, 2008 12:00am
Afghanistan attack was 'legitimate' hit at Taliban: Pentagon

Afghanistan attack was 'legitimate' hit at Taliban: Pentagon

The US military said Monday that an attack by coalition forces in Afghanistan last week which allegedly killed dozens of civilians was a "legitimate" assault on Taliban forces. "We continue at this point to believe that this was a legitimate strike agains
Published 26 Aug, 2008 12:00am
Orissa mob burns Christian orphanage, kills woman

Orissa mob burns Christian orphanage, kills woman

A mob burned down a Christian orphanage on Monday, killing one woman, police said, in rising religious violence sparked by the killing of a Hindu leader. The mob beat up a priest, drove children away and set the orphanage on fire in Orissa state, trapping
Published 26 Aug, 2008 12:00am
US agrees to withdraw troops by 2011: Maliki

US agrees to withdraw troops by 2011: Maliki

Iraq and the United States have agreed that a planned security pact will require all US troops to leave Iraq by the end of 2011, Iraqi Prime Minister Nuri al-Maliki said on Monday.
Published 26 Aug, 2008 12:00am
South Korea and China urge cooperation over North Korea

South Korea and China urge cooperation over North Korea

The presidents of China and South Korea at a summit on Monday called for co-operation in sputtering talks to rid North Korea of its nuclear weapons while they pledged to boost trade between the major economic partners.
Published 26 Aug, 2008 12:00am
Iran launches submarine production line

Iran launches submarine production line

Iran has launched a submarine production line to ensure its forces are equipped to maintain security in the vital oil shipping route, the Strait of Hormuz waterway, the defence minister said on Monday.
Published 26 Aug, 2008 12:00am
Sterling hits two-year low against dollar

Sterling hits two-year low against dollar

The dollar rose to a two-year high against sterling on Monday after data last week showing Britain's economy was stalling raised prospects of an interest rate cut by the Bank of England. Britain's gross domestic product was revised to show it was unchange
Published 26 Aug, 2008 12:00am
Sterling's fall to two-year low

Sterling's fall to two-year low

The British pound hit two-year lows against a broadly stronger dollar on Monday, with stalled UK economic activity seen as another example of growing economic malaise outside the United States. The pound's latest bout of weakness acted as a catalyst to he
Published 26 Aug, 2008 12:00am
Indian rupee weakens

Indian rupee weakens

The Indian rupee weakened on Monday as the dollar rose against a host of currencies, with heavy demand for the US unit from local oil refiners adding to the downward pressure. The partially convertible rupee ended at 43.79/80 per dollar, 0.8 percent weake
Published 26 Aug, 2008 12:00am
KDB bond spreads widen

KDB bond spreads widen

The cost of protection against a default in Korea Development Bank's (KDB) debt surged amid speculation it was looking at acquisition opportunities, bucking the trend of tighter spreads elsewhere in the region on Monday. KDB's five-year credit default swa
Published 26 Aug, 2008 12:00am
KDB bond spreads widen

KDB bond spreads widen

The cost of protection against a default in Korea Development Bank's (KDB) debt surged amid speculation it was looking at acquisition opportunities, bucking the trend of tighter spreads elsewhere in the region on Monday. KDB's five-year credit default swa
Published 26 Aug, 2008 12:00am
Monday's afternoon trade: financials, credit fears push US shares lower

Monday's afternoon trade: financials, credit fears push US shares lower

US stocks fell sharply on Monday as credit concerns hounded financial stocks and global growth worries hurt big technology and industrial companies. The three major indexes fell nearly 2 percent, wiping out gains booked on Friday, though traders said thin
Published 26 Aug, 2008 12:00am
Nikkei rises 1.7 percent

Nikkei rises 1.7 percent

Japan's Nikkei average climbed 1.7 percent on Monday, its biggest one-day percentage gain in two weeks, with Honda Motor Co leading the market after a sharp fall in oil prices eased economic worries.
Published 26 Aug, 2008 12:00am
Brazilian copper demand seen rising

Brazilian copper demand seen rising

Demand for copper and finished copper products in Brazil could grow at a faster pace in the next few years as the country's economic boom spurs more building and new car sales, a senior industry official said on Monday. "In the last few years we have been
Published 26 Aug, 2008 12:00am
Oil extends slide on demand concerns

Oil extends slide on demand concerns

Oil prices slipped on Monday as demand worries due to surging fuel costs outweighed supply concerns caused by a tropical depression in the Caribbean. US crude fell 34 cents to $114.25 a barrel by 1:22 pm EDT (1722 GMT) after falling more than 5.4 percent
Published 26 Aug, 2008 12:00am
US MIDDAY: cocoa up, coffee down

US MIDDAY: cocoa up, coffee down

Arabica coffee contracts on ICE Futures US fell with other commodity markets that were hit by a rising dollar, but cocoa prices remained firm on Monday as supply concerns inspired some players to jump in after Friday's lower close, traders said.Arabica co
Published 26 Aug, 2008 12:00am
US MIDDAY: sugar eases

US MIDDAY: sugar eases

Raw sugar futures on ICE Futures US at 1302 GMT on Monday. October dropped 0.14 cent, or 1 percent, to 14.00 cents per lb. Volume a quiet 5,663 lots. Trading from 13.95 to 14.13 cents.
Published 26 Aug, 2008 12:00am
US MIDDAY: corn weakens

US MIDDAY: corn weakens

September corn was down 2 cents at $5.84-1/2 per bushel, new-crop December was up 1-1/4 at $6.05-1/4. Turned mixed by midday. Sell-off in wheat weighs but market underpinned by fears that dry US Midwest weather may trim production. US Midwest crop belt wi
Published 26 Aug, 2008 12:00am
US MIDDAY: wheat falls

US MIDDAY: wheat falls

September wheat was down 17-1/2 cents at $8.48 per bushel, December WAS down 17 at $8.73-1/2. Remains pressured by rising global wheat supplies. Russia may harvest 95 million tonnes of grain in 2008, with wheat output at 54 million to 57 million tonnes, u
Published 26 Aug, 2008 12:00am
US MIDDAY: soyabeans lower

US MIDDAY: soyabeans lower

September soyabeans was up 16 cents at $13.37 per bushel, new-crop November was up 18 at $13.45. Concerns that dry weather in US Midwest may trim production from the late-developing soyabean crop. Traders expect USDA to report US soya conditions down 2-3
Published 26 Aug, 2008 12:00am
US MIDDAY: copper gains

US MIDDAY: copper gains

US copper futures rose early Monday as investors took advantage of a holiday in London to push prices higher in mostly technical business, traders said. Copper for September delivery was trading up 1.35 cents at $3.4860 a lb by 10:41 am EDT (1441 GMT) on
Published 26 Aug, 2008 12:00am
US MIDDAY: gold drops

US MIDDAY: gold drops

US gold futures fell in quiet trade on Monday as a dollar rise and weak crude oil prices prompted profit taking amid a London market holiday. December gold was down $7.60 at $825.90 an ounce on Comex. Range traded was $821.10 to $831.90. Bullion weakened
Published 26 Aug, 2008 12:00am
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