AGL 39.54 Decreased By ▼ -0.46 (-1.15%)
AIRLINK 128.00 Decreased By ▼ -1.06 (-0.82%)
BOP 6.83 Increased By ▲ 0.08 (1.19%)
CNERGY 4.70 Increased By ▲ 0.21 (4.68%)
DCL 8.50 Decreased By ▼ -0.05 (-0.58%)
DFML 41.50 Increased By ▲ 0.68 (1.67%)
DGKC 82.95 Increased By ▲ 1.99 (2.46%)
FCCL 33.04 Increased By ▲ 0.27 (0.82%)
FFBL 74.00 Decreased By ▼ -0.43 (-0.58%)
FFL 11.96 Increased By ▲ 0.22 (1.87%)
HUBC 110.75 Increased By ▲ 1.17 (1.07%)
HUMNL 14.42 Increased By ▲ 0.67 (4.87%)
KEL 5.24 Decreased By ▼ -0.07 (-1.32%)
KOSM 7.68 Decreased By ▼ -0.04 (-0.52%)
MLCF 39.00 Increased By ▲ 0.40 (1.04%)
NBP 64.00 Increased By ▲ 0.49 (0.77%)
OGDC 194.10 Decreased By ▼ -0.59 (-0.3%)
PAEL 25.77 Increased By ▲ 0.06 (0.23%)
PIBTL 7.35 Decreased By ▼ -0.04 (-0.54%)
PPL 155.35 Decreased By ▼ -0.10 (-0.06%)
PRL 25.90 Increased By ▲ 0.11 (0.43%)
PTC 18.08 Increased By ▲ 0.58 (3.31%)
SEARL 82.40 Increased By ▲ 3.75 (4.77%)
TELE 7.75 Decreased By ▼ -0.11 (-1.4%)
TOMCL 33.50 Decreased By ▼ -0.23 (-0.68%)
TPLP 8.51 Increased By ▲ 0.11 (1.31%)
TREET 16.70 Increased By ▲ 0.43 (2.64%)
TRG 56.80 Decreased By ▼ -1.42 (-2.44%)
UNITY 27.63 Increased By ▲ 0.14 (0.51%)
WTL 1.38 Decreased By ▼ -0.01 (-0.72%)
BR100 10,551 Increased By 106 (1.01%)
BR30 31,336 Increased By 146.6 (0.47%)
KSE100 98,428 Increased By 630.2 (0.64%)
KSE30 30,692 Increased By 211.4 (0.69%)
Nov 25, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2008-08-28
US thrifts set aside $14 billion for losses in second quarter

US thrifts set aside $14 billion for losses in second quarter

The US savings and loan industry set aside a record $14 billion for bad debt provisions in the second quarter, almost double the amount from the first quarter, the Office of Thrift Supervision (OTS) said on Wednesday. Industrywide, the thrifts posted a ne
Published 28 Aug, 2008 12:00am
Mortgage applications up first time in three weeks

Mortgage applications up first time in three weeks

US mortgage applications rose for the first time in three weeks as interest rates edged lower, an industry group said on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications, which includes both purchase
Published 28 Aug, 2008 12:00am
US durable goods orders show surprising strength

US durable goods orders show surprising strength

New orders for long-lasting US manufactured goods jumped a surprising 1.3 percent in July as businesses ramped up spending plans and demand for a wide array of items rose, a government report showed on Wednesday. Strong demand for manufactured goods may e
Published 28 Aug, 2008 12:00am
More people living below poverty line

More people living below poverty line

The World Bank said on Tuesday more people are living in extreme poverty in developing countries than previously thought as it adjusted the recognised yardstick for measuring global poverty to $1.25 a day from $1. The poverty-fighting institution said the
Published 28 Aug, 2008 12:00am
General Motors to set up engine plant in India

General Motors to set up engine plant in India

General Motors Corp will sign an agreement with the western state of Maharashtra for an engine and transmission plant on Thursday, as it steps up the pace in one of the world's fastest-growing auto markets.
Published 28 Aug, 2008 12:00am
Mattel awarded $100 million in Barbie-Bratz spat

Mattel awarded $100 million in Barbie-Bratz spat

A US jury has awarded Barbie-maker Mattel Inc 100 million dollars in damages in its copyright fight against MGA Entertainment, whose popular Bratz doll has given Barbie a run for her money. The judge will have to decide on the final figure, but the Califo
Published 28 Aug, 2008 12:00am
Oil market well supplied, no need for Opec hike: Iran

Oil market well supplied, no need for Opec hike: Iran

A senior Iranian oil official said there was enough crude in the market and no need for the Organisation of the Petroleum Exporting Countries to hike output, the Oil Ministry's website reported on Wednesday. Oil prices have tumbled from a record peak of $
Published 28 Aug, 2008 12:00am
Dubai Financial signs $1.5 billion Islamic loan

Dubai Financial signs $1.5 billion Islamic loan

Dubai Financial Group has signed a $1.5 billion, three-year syndicated Islamic loan, the arranging banks announced on Wednesday. The murabaha facility, which closed oversubscribed, pays a profit rate of 200 basis points (bps). Proceeds will be used to exp
Published 28 Aug, 2008 12:00am
Myanmar to hold gems auction despite trading ban

Myanmar to hold gems auction despite trading ban

Military-run Myanmar announced Wednesday it would hold a mid-year auction of precious gems in Yangon, despite economic sanctions banning their international trade. Jade, pearls and precious gems will be among the lots on sale, an official said. "The mid-y
Published 28 Aug, 2008 12:00am
Iraq and China agree $3 billion oil service deal

Iraq and China agree $3 billion oil service deal

Iraq and China have agreed the terms of a $3 billion oil service contract, Iraq's oil minister said on Wednesday, announcing the first major oil contract with a foreign firm since the fall of Saddam Hussein. The contract is for the Adhab oilfield and repl
Published 28 Aug, 2008 12:00am
PetroChina second quarter falls on refining squeeze

PetroChina second quarter falls on refining squeeze

PetroChina Co Ltd, Asia's top oil and gas producer, reported a sharp fall in quarterly earnings due to a squeeze on refining margins, but high crude prices fuelled a surge in profits at two other energy firms in the region. Global crude oil prices jumped
Published 28 Aug, 2008 12:00am
PetroChina second quarter falls on refining squeeze

PetroChina second quarter falls on refining squeeze

PetroChina Co Ltd, Asia's top oil and gas producer, reported a sharp fall in quarterly earnings due to a squeeze on refining margins, but high crude prices fuelled a surge in profits at two other energy firms in the region. Global crude oil prices jumped
Published 28 Aug, 2008 12:00am
China Mobile second quarter beats forecast, to offer 3G by June 2009

China Mobile second quarter beats forecast, to offer 3G by June 2009

China Mobile beat forecasts with quarterly profit growth of 51 percent, lifting its shares 4 percent, and said it will begin offering long-awaited 3G services across the world's top telecoms market by June 2009. On Wednesday, the world's largest wireless
Published 28 Aug, 2008 12:00am
China Mobile second quarter beats forecast, to offer 3G by June 2009

China Mobile second quarter beats forecast, to offer 3G by June 2009

China Mobile beat forecasts with quarterly profit growth of 51 percent, lifting its shares 4 percent, and said it will begin offering long-awaited 3G services across the world's top telecoms market by June 2009. On Wednesday, the world's largest wireless
Published 28 Aug, 2008 12:00am
China eyes shift in VAT regime to boost investment

China eyes shift in VAT regime to boost investment

Rummaging through its policy toolkit, China is finally on the verge of an overhaul of its valued-added tax system that will give its softening economy a boost by encouraging firms to invest more. Under the current "production-based" VAT regime, firms may
Published 28 Aug, 2008 12:00am
Mitsubishi plans big expansion in solar power

Mitsubishi plans big expansion in solar power

Japan's Mitsubishi Electric Corp said Wednesday it will spend 50 billion yen (458 million dollars) to boost solar power cell production four-fold by early 2012 amid growing interest in renewable energies. The group said it will build a new facility on the
Published 28 Aug, 2008 12:00am
Hyundai Heavy, three others, bid for South Korean shipyard

Hyundai Heavy, three others, bid for South Korean shipyard

Hyundai Heavy Industries, the world's largest shipyard, and three other South Korean firms submitted bids Wednesday for Daewoo Shipbuilding and Marine Engineering. State-run Korea Development Bank (KDB), which is arranging the sale, said steelmaker POSCO,
Published 28 Aug, 2008 12:00am
World mobile phone sales growth slowing

World mobile phone sales growth slowing

Growth in world-wide sales of mobile telephones will slow sharply in 2008 as consumers face increased economic difficulties, a report by Gartner research institute showed on Wednesday. The US-based industry research unit predicted 11 percent growth in glo
Published 28 Aug, 2008 12:00am
South Korea to build 10 more nuclear plants by 2030

South Korea to build 10 more nuclear plants by 2030

South Korea said Wednesday it will build 10 more nuclear power plants by 2030 and increase its renewable energy resources as part of a 100-billion-dollar plan to reduce its dependence on fossil fuels. South Korea, a highly industrialised nation with few n
Published 28 Aug, 2008 12:00am
British home builder Taylor Wimpey posts huge loss

British home builder Taylor Wimpey posts huge loss

Home builder Taylor Wimpey said Wednesday that it suffered a massive first-half net loss of 1.419 billion pounds because of "challenging" housing markets in Britain, Spain and the United States. Taylor Wimpey, which operates across all three countries, sa
Published 28 Aug, 2008 12:00am
Taiwan's dismal orders signal slowing Asian exports

Taiwan's dismal orders signal slowing Asian exports

A drop in Taiwan's export orders growth to a five-year low in July shows that Asia's exports engine is stuttering and heralds a bumpy ride in months ahead for the region's economies. Taiwan's orders, a barometer for global electronics demand and the islan
Published 28 Aug, 2008 12:00am
'Developing nations trying to break WTO impasse'

'Developing nations trying to break WTO impasse'

Developing nations are working on a compromise which they hope can help break a deadlock in global trade talks, Indonesian Trade Minister Mari Pangestu said Wednesday. The Group of 33 (G33) developing states' secretariat was working to convene a meeting o
Published 28 Aug, 2008 12:00am
Asean, Australia and New Zealand trade pact near: minister

Asean, Australia and New Zealand trade pact near: minister

Negotiations for an Asean bloc free trade deal with Australia and New Zealand are nearly completed, Indonesian Trade Minister Mari Pangestu said Wednesday. "I think we're nearly there. We still have one or two pending issues," Pangestu told reporters on t
Published 28 Aug, 2008 12:00am
Chile unveils $1 billion package to tackle inflation

Chile unveils $1 billion package to tackle inflation

Chile's government on Friday announced a $1 billion package of measures to curb inflation running at 1994 highs and to boost slowing growth. The measures include a temporary reduction on tax on fuel, and cutting a tax on cheques and electronic transfers.
Published 28 Aug, 2008 12:00am
US fund Lone Star says Berlin overestimated worth of IKB bank

US fund Lone Star says Berlin overestimated worth of IKB bank

The new owners of German bank IKB had harsh words on Wednesday for German officials following the sale of a lender that flirted with bankruptcy amid the international financial crisis. Karsten von Koeller, the head of US fund Lone Star's German unit, told
Published 28 Aug, 2008 12:00am
US fund Lone Star says Berlin overestimated worth of IKB bank

US fund Lone Star says Berlin overestimated worth of IKB bank

The new owners of German bank IKB had harsh words on Wednesday for German officials following the sale of a lender that flirted with bankruptcy amid the international financial crisis. Karsten von Koeller, the head of US fund Lone Star's German unit, told
Published 28 Aug, 2008 12:00am
Taiwan stocks at one-week high

Taiwan stocks at one-week high

Taiwan stocks rose 1.67 percent to a more than one-week closing high on Wednesday, as investors bought beaten-down shares including Cathay Real Estate and as major laptop PC makers jumped on hopes of rising orders. The main TAIEX share index closed up 116
Published 28 Aug, 2008 12:00am
Hong Kong shares rise 1.9 percent

Hong Kong shares rise 1.9 percent

Hong Kong shares closed 1.9 percent higher on Wednesday, lifted by sharp post-earnings relief rallies in index heavyweights China Mobile and China Life. The market posted most of its gains in the post-lunch session, an encore of Tuesday's late rally, driv
Published 28 Aug, 2008 12:00am
US stocks up on energy shares

US stocks up on energy shares

The Dow and S&P 500 rose on Tuesday as hurricane fears lifted oil prices and boosted energy shares, blunting the effect of a report that showed a growing number of problem US banks. Trading volume was light and volatile, but traders said energy prices wer
Published 28 Aug, 2008 12:00am
Thai share prices jump

Thai share prices jump

Thai share prices closed 1.06 percent higher on Wednesday as they rebounded following losses in the previous session amid political demonstrations in Bangkok, dealers said. They said investors seemed confident the government had adopted a clear approach t
Published 28 Aug, 2008 12:00am
US Treasury prices steady

US Treasury prices steady

US Treasury debt prices ended steady on Tuesday after shaking off an upbeat tilt to the day's economic reports, stabilisation in the stock market and positioning for new supplies due later this week. The flight-to-safety bid that lifted bond values on Mon
Published 28 Aug, 2008 12:00am
US Treasury prices steady

US Treasury prices steady

US Treasury debt prices ended steady on Tuesday after shaking off an upbeat tilt to the day's economic reports, stabilisation in the stock market and positioning for new supplies due later this week. The flight-to-safety bid that lifted bond values on Mon
Published 28 Aug, 2008 12:00am
Philippines shares little firmer

Philippines shares little firmer

Philippines share prices closed 0.3 percent higher on Wednesday due to bargain-hunting following the downturn in the previous session, dealers said. The composite index gained 9.05 points to 2,646.70 points. The all-share index rose 0.3 percent to 1,639.8
Published 28 Aug, 2008 12:00am
Indian shares tumble

Indian shares tumble

Indian shares closed 1.28 percent lower on Wednesday in choppy trade ahead of the release of India's inflation data on Thursday which analysts expect will edge up further, dealers said. The benchmark 30-share Sensex index fell 185.43 points to 14,296.79,
Published 28 Aug, 2008 12:00am
Singapore shares end little changed

Singapore shares end little changed

Singapore share prices closed little changed on Wednesday with few fresh leads to ignite investor interest, dealers said. The blue chip Straits Times Index was off 2.10 points to 2,705.09. Volume totalled 759 million shares worth 905 million Singapore dol
Published 28 Aug, 2008 12:00am
China stocks close slightly lower

China stocks close slightly lower

China's main stock index fell slightly on Wednesday, led by airlines after they reported first-half earnings, while brokerages climbed on fresh rumours that regulators might act to support the market. The Shanghai Composite Index ended down 0.34 percent a
Published 28 Aug, 2008 12:00am
Nikkei falls, exporters and property weigh

Nikkei falls, exporters and property weigh

The Nikkei average dipped 0.2 percent on Wednesday, led lower by exporters like Honda Motor Co Ltd amid concerns about the global economic outlook while property shares dropped after the collapse of another builder. The market's fall was cushioned by gain
Published 28 Aug, 2008 12:00am
Malaysian shares fall

Malaysian shares fall

Malaysian share prices ended 0.3 percent lower on Wednesday as foreign funds withdrew from the market over domestic political uncertainty and ahead of the 2009 budget announcement, dealers said. The Kuala Lumpur Composite Index shed 2.85 points to close a
Published 28 Aug, 2008 12:00am
Yuan rebounds versus dollar

Yuan rebounds versus dollar

The yuan rebounded against the dollar in the spot and forwards markets on Wednesday as the US currency weakened globally, and after suspected indirect intervention by the central bank to support the yuan. Before trade began, the Chinese central bank set t
Published 28 Aug, 2008 12:00am
Euro zone gloom lifts US dollar to six-month highs

Euro zone gloom lifts US dollar to six-month highs

The dollar climbed to six-month highs against the euro on Tuesday, boosted by a jump in US consumer confidence and expectations of euro-zone interest rate cuts as investors braced for a possible recession in the region. The euro tumbled versus the dollar
Published 28 Aug, 2008 12:00am
Dollar dips versus euro in Tokyo

Dollar dips versus euro in Tokyo

The dollar fell against the euro on Wednesday, after hitting a six-month high the previous day as German business morale slumped to multi-year lows and reinforced views the European Central Bannk will eventually cut rates. The euro had slid on Tuesday aft
Published 28 Aug, 2008 12:00am
New Zealand dollar inches up

New Zealand dollar inches up

The New Zealand dollar inched up on Wednesday, helped by a softer US dollar, as traders awaited a business confidence survey due later in the day. NZ dollar trades a high of $0.7009, extending gains after hitting a two-week low of $0.6898 on Tuesday, as t
Published 28 Aug, 2008 12:00am
Most Asians recover from multi-month troughs

Most Asians recover from multi-month troughs

Most Asian currencies, including the Malaysian ringgit, the South Korean won and the Thai baht, rebounded from multi-month lows on Wednesday as the US dollar paused in its climb against other major currencies. The euro edged higher against the dollar on s
Published 28 Aug, 2008 12:00am
Hong Kong dollar ends little changed

Hong Kong dollar ends little changed

The Hong Kong dollar was modestly higher against the US dollar on Wednesday after moving in a narrow range, while interbank rates were steady and hovered at a similar level to the previous session. The local currency was trading at 7.8079/80 per US dollar
Published 28 Aug, 2008 12:00am
India stock funds seen at $500 billion: Morgan Stanley

India stock funds seen at $500 billion: Morgan Stanley

Morgan Stanley said on Wednesday equity assets managed by Indian mutual funds would surge nearly 14 times to $500 billion by 2017 as a wealthier and growing younger population becomes more willing to take on risks. Equity assets in India now stand at near
Published 28 Aug, 2008 12:00am
India stock funds seen at $500 billion: Morgan Stanley

India stock funds seen at $500 billion: Morgan Stanley

Morgan Stanley said on Wednesday equity assets managed by Indian mutual funds would surge nearly 14 times to $500 billion by 2017 as a wealthier and growing younger population becomes more willing to take on risks. Equity assets in India now stand at near
Published 28 Aug, 2008 12:00am
Philippines unveils 2009 spending plan of $31 billion

Philippines unveils 2009 spending plan of $31 billion

The Philippine government asked Congress on Wednesday to approve a 15.4 percent increase in its budget next year for subsidies to shield the economy from high food and fuel prices and investment to boost growth. Budget Secretary Roland Andaya proposed a 1
Published 28 Aug, 2008 12:00am
Bundesliga may overtake Serie A in rich league

Bundesliga may overtake Serie A in rich league

Germany's Bundesliga is likely to overtake Italy's Serie A as the second richest European league this season, a report said on Wednesday. The Italian top flight is expected to generate 1.43 billion euros ($2.1 billion) in revenue in the 2008/09 season, se
Published 28 Aug, 2008 12:00am
England thrash South Africa to go two up in series

England thrash South Africa to go two up in series

Stuart Broad returned a career-best five for 23 to help England thrash South Africa by 10 wickets in the second one-day international at Nottingham on Tuesday. The visitors went 2-0 down in the five-match series after collapsing to 83 all out in 23 overs,
Published 28 Aug, 2008 12:00am
ICC leads tributes on centenary of Bradman's birth

ICC leads tributes on centenary of Bradman's birth

The International Cricket Council (ICC) hailed Don Bradman as "a byword for brilliance" on Wednesday, the centenary of the cricketer's birth. "No name in cricket conjures up such widespread awe and respect as that of Sir Donald Bradman," ICC president Dav
Published 28 Aug, 2008 12:00am
Chelsea likely to sign Robinho

Chelsea likely to sign Robinho

Premier League leaders Chelsea expect to sign unsettled Brazilian forward Robinho from Real Madrid in the next 48 hours, chief executive Peter Kenyon said on Wednesday. "We are ever confident that it (the transfer) will get done but I think we have always
Published 28 Aug, 2008 12:00am
Injury forces Mushtaq retirement

Injury forces Mushtaq retirement

Sussex's legendary former Pakistan international spinner Mushtaq Ahmed confirmed Wednesday that he has been forced to retire because of a persistent knee injury. Mushtaq won three county championships, a C&G Trophy and the Totesport Division Two title wit
Published 28 Aug, 2008 12:00am
Montgomerie wants win to help his chances of Cup wild card

Montgomerie wants win to help his chances of Cup wild card

Briton Colin Montgomerie is determined to come up with his first win of the year to help him land one of European Ryder Cup captain Nick Faldo's two wild cards. Faldo makes his two choices on Sunday, after Europe's top-10 automatic qualifiers have been de
Published 28 Aug, 2008 12:00am
India to benefit from Asian Cup berth

India to benefit from Asian Cup berth

India could be transformed into a regional power over the next three years after their AFC Challenge Cup victory earlier this month qualified them for the 2011 Asian Cup, according to the side's captain Baichung Bhutia. "It was a massive victory because w
Published 28 Aug, 2008 12:00am
LPGA players told they must speak English from 2009

LPGA players told they must speak English from 2009

The world's top women golfers will be required to speak English from 2009 under new rules introduced by the LPGA Tour. "We're focusing on the fact that we're in the sports entertainment business and we have to interact with fans and sponsors," LPGA deputy
Published 28 Aug, 2008 12:00am
Ivanovic wins, Federer cr uises

Ivanovic wins, Federer cr uises

Ana Ivanovic needed every scrap of her youthful ebullience on Tuesday to narrowly avoid the humiliation of becoming the first top-seeded woman to lose in the opening round of the US Open. It took the 20-year-old Serbian just over two hours to make her sta
Published 28 Aug, 2008 12:00am
'80 Taliban killed in airstrikes'

'80 Taliban killed in airstrikes'

Nearly 80 suspected Taliban militants were killed in coalition airstrikes and clashes with Afghan forces, while four Afghan policemen were killed in a roadside bomb blast in southern region, officials said Wednesday.
Published 28 Aug, 2008 12:00am
After Hillary, Bill Clinton's turn to boost Obama

After Hillary, Bill Clinton's turn to boost Obama

Bill Clinton once vowed to fight for voters "until the last dog dies." On Wednesday he shows how hard he will fight for Democratic presidential hopeful Barack Obama on the Clintons' last big day of the 2008 campaign.
Published 28 Aug, 2008 12:00am
Thousands gather for a sight of two-headed baby

Thousands gather for a sight of two-headed baby

Thousands of people gathered at a clinic in western Bangladesh see a double-headed baby boy born to a farm worker, media reports said Wednesday.The mass circulation newspaper Ittefaq quoted medical personnel in small town of Keshabpur, west of Dhaka as sa
Published 28 Aug, 2008 12:00am
Iran says can hit Israel with missiles if attacked

Iran says can hit Israel with missiles if attacked

Iran could hit back at Israel with missiles if the Jewish state attacked it and could also rely on allies in the region to strike, the commander of the Islamic Republic's Revolutionary Guards said on Wednesday. Israel, like the United States, has not rule
Published 28 Aug, 2008 12:00am
EU fears Russia may target Ukraine after Georgia

EU fears Russia may target Ukraine after Georgia

Russia might have its eye on other neighbouring countries such as Ukraine and Moldova after its armed forces stormed Georgia, French Foreign Minister Bernard Kouchner said on Wednesday. Russia's armed forces overpowered Georgia's troops earlier this month
Published 28 Aug, 2008 12:00am
Islamists endorse Anwar in bid for power

Islamists endorse Anwar in bid for power

Malaysia's leading opposition figure, Anwar Ibrahim, cleared a major hurdle in his race to win power when an Islamist party endorsed him on Wednesday as leader of an anti-government alliance. The move by Parti Islam Se-Malaysia (PAS) came after Anwar's co
Published 28 Aug, 2008 12:00am
New British coin marks London 2012 Games

New British coin marks London 2012 Games

Britain's Royal Mint unveiled a coin Wednesday created to mark the Olympic handover from Beijing to London. The two pound (2.5 euro, 3.7 dollar) coin features one hand passing the Olympic flag to another, as well as the logo of the London 2012 Olympics.
Published 28 Aug, 2008 12:00am
Miliband warns Russia not to start a new cold war

Miliband warns Russia not to start a new cold war

British Foreign Secretary David Miliband warned Russia Wednesday not to start a new Cold War, and suggested the European Union and Nato should review their relations with Moscow. "Russia is not yet reconciled to the new map of this region," he said after
Published 28 Aug, 2008 12:00am
Indian police told to shoot religious rioters

Indian police told to shoot religious rioters

Indian police were ordered to shoot on sight to end Hindu-Christian clashes on Wednesday as Pope Benedict XVI "firmly condemned" violence that has killed at least nine people. Parts of eastern Orissa state have been rocked by Hindu-Christian clashes since
Published 28 Aug, 2008 12:00am
Eleven Asian workers die in Dubai fire

Eleven Asian workers die in Dubai fire

Eleven Asian workers, most of them Indians, died in a fire that broke out in a cramped hostel in Dubai while they were asleep, reports said on Wednesday. Another six workers were injured in the dawn blaze on Tuesday, newspapers in the United Arab Emirates
Published 28 Aug, 2008 12:00am
1,300-year-old mummy unearthed

1,300-year-old mummy unearthed

Archaeologists have unearthed a well-preserved 1,300-year-old female mummy in a residential area of the Peruvian capital. The woman was from the Wari culture, said archaeologist Isabel Flores, who heads work at the Huaca Pucllana, a mud-brick complex seve
Published 28 Aug, 2008 12:00am
Researchers turn living cells into insulin-makers

Researchers turn living cells into insulin-makers

Researchers have transformed ordinary cells into insulin-producing cells in a living mouse, improving symptoms of diabetes in a major step towards regenerative medicine. The technique, called direct reprogramming, bypasses the need for stem cells - the bo
Published 28 Aug, 2008 12:00am
US agreed troop pullout compromise

US agreed troop pullout compromise

The United States asked Iraq for permission to maintain a troop presence there to 2015, but US and Iraqi negotiators agreed to limit authorisation to 2011, Iraqi President Jalal Talabani said. "It was a US proposal for the date which is 2015, and an Iraqi
Published 28 Aug, 2008 12:00am
Sterling hits near 12-year low

Sterling hits near 12-year low

Sterling hit a near 12-year low on a trade-weighted basis on Wednesday and was mired close to a two-year low versus the dollar, weighed by worries about UK economic weakness and a deterioration in the eurozone.
Published 28 Aug, 2008 12:00am
Dollar retreats in London

Dollar retreats in London

The dollar retreated on Wednesday as dealers cashed in on the currency's jump the previous session to 2008 highs against a basket of currencies while hawkish rhetoric from a European Central Bank policymaker lifted the euro.
Published 28 Aug, 2008 12:00am
Indian rupee gains

Indian rupee gains

The Indian rupee gained on Wednesday as the central bank sold dollars for a second straight session after month-end demand for the US unit from oil firms threatened to push the rupee above 44 per dollar.
Published 28 Aug, 2008 12:00am
European credit spreads edge wider

European credit spreads edge wider

Fresh euro bond supply pushed European credit spreads slightly wider on Wednesday, traders said, despite stocks making gains partly on the back of stronger-than-expected US durable goods data. By 1440 GMT, the investment-grade Markit iTraxx Europe index w
Published 28 Aug, 2008 12:00am
European credit spreads edge wider

European credit spreads edge wider

Fresh euro bond supply pushed European credit spreads slightly wider on Wednesday, traders said, despite stocks making gains partly on the back of stronger-than-expected US durable goods data. By 1440 GMT, the investment-grade Markit iTraxx Europe index w
Published 28 Aug, 2008 12:00am
Asian bond spreads flat

Asian bond spreads flat

The cost of protection against Thailand's debt rose amid fears about political instability, while Asian bond spreads were flat on Wednesday amid continued caution about global economic growth and the financial sector. Thailand's five-year credit default s
Published 28 Aug, 2008 12:00am
Asian bond spreads flat

Asian bond spreads flat

The cost of protection against Thailand's debt rose amid fears about political instability, while Asian bond spreads were flat on Wednesday amid continued caution about global economic growth and the financial sector. Thailand's five-year credit default s
Published 28 Aug, 2008 12:00am
Britain's top share index rises

Britain's top share index rises

Britain's blue chip index reversed initial losses to rise more than 1 percent on Wednesday as commodities tracked energy and metal prices higher, while banks also rose as strong US data pushed stocks positive. The FTSE 100 ended up 57.4 points, or 1.1 per
Published 28 Aug, 2008 12:00am
New York cotton

New York cotton

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

Published 28 Aug, 2008 12:00am
New York cotton

New York cotton

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

Published 28 Aug, 2008 12:00am
New York cotton futures settle firmer

New York cotton futures settle firmer

Cotton futures finished firmer on Tuesday, lifted by news that Hurricane Gustav in the central Caribbean was speeding up as it headed north-west and some participants feared its impact may impair US crops, brokers said. Key December cotton futures settled
Published 28 Aug, 2008 12:00am
US copper lower

US copper lower

US copper futures fell to their lowest point in nearly a week on Tuesday, pressured by a firm dollar, rising stocks in London, and signs that economic weakness was spreading abroad, analysts said.
Published 28 Aug, 2008 12:00am
Copper, lead jump

Copper, lead jump

Copper rose on Wednesday as the dollar softened and lead rose more than 10 percent on a technical rebound. "The whole commodity complex is higher and the dollar is a bit weaker - so it is just a reaction of the oversold situation in lead," said analyst Eu
Published 28 Aug, 2008 12:00am
Oil rises as Gustav threatens US Gulf

Oil rises as Gustav threatens US Gulf

Oil rose on Wednesday on forecasts that Tropical Storm Gustav will intensify into a hurricane as it ploughs toward the US oil and natural gas platforms in the Gulf of Mexico. Further support came from weekly US government inventory data that showed an une
Published 28 Aug, 2008 12:00am
US soyabean futures fall

US soyabean futures fall

US soyabean futures on the Chicago Board of Trade ended slightly lower on Tuesday, recovering from a big sell-off earlier that was triggered by a strengthening dollar, traders said. "There were two opposing forces at work today - the firmer dollar and a r
Published 28 Aug, 2008 12:00am
London sugar sets 21-month high

London sugar sets 21-month high

White sugar prices soared to a 21-month high on Wednesday, propelled by nearby supply tightness, surging crude oil and a weak dollar. Cocoa and coffee also advanced with renewed fund buying interest evident in soft commodities after the setbacks of the la
Published 28 Aug, 2008 12:00am
US gold up

US gold up

US gold futures held onto gains to end higher on Tuesday, erasing initial losses as higher crude oil prices due to hurricane worries more than offset a dollar rally. December settled up $2.40 at $828.10 an ounce on COMEX division of the New York Mercantil
Published 28 Aug, 2008 12:00am
Gold extends gains in Asia

Gold extends gains in Asia

Gold extended gains on Wednesday as fears of rising inflation, tensions between Russia and the West and a rebounding euro spurred speculative buying. Platinum gained more than 1 percent to track gold but gains maybe limited with automakers still on the si
Published 28 Aug, 2008 12:00am
Gold rises in London

Gold rises in London

Gold climbed in Europe on Wednesday as oil prices rose, boosting the precious metal's appeal as an inflation hedge, and as the dollar retreated from a six-month high hit this week. Oil firmed more than $2 a barrel as fears grew that tropical storm Gustav
Published 28 Aug, 2008 12:00am
US MIDDAY: coffee, cocoa up

US MIDDAY: coffee, cocoa up

Arabica coffee trading on ICE Futures US jumped to an eight-week high in early trade on Wednesday, in a commodity-wide rally as the dollar fell, while cocoa futures got an additional fundamental boost, traders said. Arabica coffee for December delivery su
Published 28 Aug, 2008 12:00am
US MIDDAY: sugar plummets

US MIDDAY: sugar plummets

Raw sugar futures traded on ICE Futures US lost more than 4 percent late on Wednesday as funds liquidated holdings after key resistance held at 14.45 cents, traders said. By 12:45 pm EDT (1645 GMT), the benchmark October sugar contract fell as 0.61 cent,
Published 28 Aug, 2008 12:00am
US MIDDAY: corn dips

US MIDDAY: corn dips

September corn was 7-1/4 cents lower at $5.68 a bushel, new-crop December was down 7-1/2 at $5.86-1/2 early on Wednesday. Support for September at 200-day moving average of $5.67-1/2, resistance at 100-day MA of $6.29-3/4.
Published 28 Aug, 2008 12:00am
US MIDDAY: wheat falls

US MIDDAY: wheat falls

September wheat was down 28 cents at $8.02-1/2 a bushel; December was down 28-1/2 at $8.26 early on Wednesday. Sliding on forecasts for much-needed rain to fall in wheat areas of Australia and Argentina. Selling escalated as September dipped below support
Published 28 Aug, 2008 12:00am
US MIDDAY: soyabeans lower

US MIDDAY: soyabeans lower

September soyabean futures were down 4-3/4 cents at $13.32-3/4 a bushel, new-crop November was down 9-1/2 cents at $13.35 early on Wednesday. Pressured by the weakness in wheat and forecasts for increased rains this week across the US Midwest.
Published 28 Aug, 2008 12:00am
US MIDDAY: copper firms

US MIDDAY: copper firms

US copper futures rose more than one percent early on Wednesday as the combination of a down dollar and stronger crude oil prices underpinned the red metal's morning advance, analysts said.
Published 28 Aug, 2008 12:00am
US MIDDAY: gold gains

US MIDDAY: gold gains

US gold futures rose amid light volume early on Wednesday, extending the previous session's gains as the rise in crude oil and the drop in the dollar prompted buying of bullion as an alternative investment. December gold was up $7.10 at $835.20 an ounce o
Published 28 Aug, 2008 12:00am
NWFP Assembly passes two privilege motions

NWFP Assembly passes two privilege motions

The NWFP Assembly Wednesday referred two privilege motions to concerned committees tabled against the authorities of Frontier House in Islamabad and Erra (Earthquake Relief and Rehabilitation Authority). The motion against Frontier House authorities was t
Published 28 Aug, 2008 12:00am
Previous Day