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Nov 14, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2008-09-10
US Treasury prices rally

US Treasury prices rally

US Treasury prices reversed early losses on Monday and rallied on mortgage-related buying of longer-dated Treasuries after the government took control of embattled mortgage giants Fannie Mae and Freddie Mac.
Published 10 Sep, 2008 12:00am
Seoul shares fall, led by exporters

Seoul shares fall, led by exporters

Seoul shares fell 1.5 percent on Tuesday after gaining more than 5 percent in the previous session, with declines led by technology exporters that had posted the biggest gains on Monday. The Korea Composite Stock Price Index closed at 1,454.50 points.
Published 10 Sep, 2008 12:00am
Singapore shares drop

Singapore shares drop

Singapore shares closed 0.88 percent lower on Tuesday after a rally sparked by the US government's bailout of two ailing mortgage giants fizzled out, dealers said. The blue chip Straits Times Index (STI) fell 23.82 points to 2,673.21 on volume of 746.44 m
Published 10 Sep, 2008 12:00am
Tokyo stocks fall

Tokyo stocks fall

The Nikkei average fell 1.8 percent on Tuesday, a day after the US government's bailout of top mortgage firms sparked a broad market rally, with exporters sliding on a firmer yen and uncertainty over the global economy. Shippers such as Kawasaki Kisen Kai
Published 10 Sep, 2008 12:00am
New Zealand shares end flat

New Zealand shares end flat

New Zealand share prices closed little changed on Tuesday as a strong rise in number two stock Contact Energy outweighed a disappointing showing by market leader Telecom, dealers said. The benchmark NZX 50 index gained 1.98 points or 0.06 percent to 3,376
Published 10 Sep, 2008 12:00am
Philippines shares decline

Philippines shares decline

Philippines share prices closed 0.3 percent lower on Tuesday as many investors stayed on the sidelines, waiting for positive developments, dealers said. The composite index fell 7.01 points to 2,721.52. The all-share index fell 3.98 points to 1,675.47 poi
Published 10 Sep, 2008 12:00am
Jakarta shares close down 3.9 percent

Jakarta shares close down 3.9 percent

Indonesian shares slumped to end down 3.9 percent on Tuesday on foreign selling in commodity-related stocks, dealers said. They said there were fears that commodity prices will continue to fall in a weakening global economy. The Jakarta Composite Index fe
Published 10 Sep, 2008 12:00am
Bangladesh trade gap tops $7.5 billion as import soars

Bangladesh trade gap tops $7.5 billion as import soars

Bangladesh's trade deficit surged by 51 percent to $7.52 billion in the fiscal year 2007/08, reflecting the soaring cost of food and fuel imports, central bank officials said on Tuesday. The cost of food grain imports quadrupled from a year ago between Ju
Published 10 Sep, 2008 12:00am
Economic nationalism worries EU business in China

Economic nationalism worries EU business in China

A rising tide of economic nationalism in China is deterring investment by European companies and hampering access to the domestic market, the European Union Chamber of Commerce in China said on Tuesday.
Published 10 Sep, 2008 12:00am
Manila says likely no more sovereign debt issue

Manila says likely no more sovereign debt issue

The Philippines may likely opt not to issue more sovereign debt this year and cut its domestic borrowings for the rest of the year due to its healthy cash position, National Treasurer Roberto Tan said on Tuesday. "We will study our cash position," Tan tol
Published 10 Sep, 2008 12:00am
Manila says likely no more sovereign debt issue

Manila says likely no more sovereign debt issue

The Philippines may likely opt not to issue more sovereign debt this year and cut its domestic borrowings for the rest of the year due to its healthy cash position, National Treasurer Roberto Tan said on Tuesday. "We will study our cash position," Tan tol
Published 10 Sep, 2008 12:00am
Dollar hits one-year peak in Asia

Dollar hits one-year peak in Asia

The dollar rose to a one-year peak against a basket of currencies on Tuesday, pushed higher by falls in the euro and the Australian dollar as the yen surged on a renewed flight to safety. After a respite on Monday when global stocks rallied on a US govern
Published 10 Sep, 2008 12:00am
US dollar rallies broadly in New York

US dollar rallies broadly in New York

The US dollar rallied to a one-year peak against a basket of currencies on Monday, as the government's take-over of the country's two biggest mortgage finance agencies boosted confidence in the US financial sector. The bailout of the beleaguered Freddie M
Published 10 Sep, 2008 12:00am
Hong Kong dollar up

Hong Kong dollar up

The Hong Kong dollar edged higher against the US dollar on Tuesday amid corporate demand for funds, but some dealers said the upside could be capped by a volatile stock market. The local currency was trading at 7.8005/08 per US dollar at 0333 GMT, up 0.04
Published 10 Sep, 2008 12:00am
Asian currencies hurt by strong US dollar

Asian currencies hurt by strong US dollar

Asian currencies pared day-earlier gains on Tuesday as initial excitement over the US government's seizure of its two troubled mortgage giants gave way to worries over economic growth. The US dollar hit a one-year high against a broad basket of currencies
Published 10 Sep, 2008 12:00am
Swiss franc recovers

Swiss franc recovers

The Swiss franc pared some of recent losses against other major currencies on Tuesday as investors turned more cautious on riskier assets again on renewed economic concerns. "Risk aversion remains the main driver for the franc," said Ronald Plasser, analy
Published 10 Sep, 2008 12:00am
Moussa says angry with Palestinian groups

Moussa says angry with Palestinian groups

The head of the Arab League said on Tuesday that he was angry with fractious Palestinian political groups and that sanctions against them were being discussed by Arab governments. Egypt, the main mediator between often rival Palestinian groups, has been h
Published 10 Sep, 2008 12:00am
Sri Lanka says shoots down rebel plane after raid

Sri Lanka says shoots down rebel plane after raid

The Sri Lankan military said it had shot down a Tamil Tiger plane for the first time on Tuesday after the rebels launched a pre-dawn air raid and ground assault on a military base which killed at least 25 people. But the rebels denied their plane had been
Published 10 Sep, 2008 12:00am
'Chances for Zimbabwe deal slim'

'Chances for Zimbabwe deal slim'

Prospects for a power-sharing deal in Zimbabwe look remote and the current round of negotiations which resumed on Tuesday is unlikely to produce a breakthrough, a senior ruling ZANU-PF party official said. A new round of talks began in Harare on Monday be
Published 10 Sep, 2008 12:00am
Shock and dismay in Britain at 'airliner bombing' verdicts

Shock and dismay in Britain at 'airliner bombing' verdicts

The outcome of Britain's "liquid bomb plot" trial in which eight Islamic extremists were accused of "mass murder on the scale of the September 11 attacks" by planning to blow up trans-Atlantic airliners has caused dismay among government and intelligence
Published 10 Sep, 2008 12:00am
Russia plans 7,600 force in Georgia rebel regions

Russia plans 7,600 force in Georgia rebel regions

Russia's military announced plans on Tuesday to station about 7,600 troops in Georgia's separatist regions, a sharp increase on the numbers deployed before Moscow sent in troops last month. Russian Foreign Minister Sergei Lavrov said troops would stay in
Published 10 Sep, 2008 12:00am
Jewish settlers glad to see Olmert go

Jewish settlers glad to see Olmert go

The head of the main Jewish settlers organisation in the occupied West Bank will not be sorry to see Israeli Prime Minister Ehud Olmert resign in a corruption scandal. Olmert was elected in 2006 on a platform to remove dozens of isolated settlements in th
Published 10 Sep, 2008 12:00am
Kim may have had stroke

Kim may have had stroke

North Korean leader Kim Jong-il may have had a stroke within the past couple of weeks, a US intelligence official said on Tuesday. "It does appear that Kim Jong-il has suffered a health setback, potentially a stroke," the official said, speaking on condit
Published 10 Sep, 2008 12:00am
North Korea fetes birthday, questions over Kim

North Korea fetes birthday, questions over Kim

North Korea celebrated its 60th birthday with a triumphal military parade on Tuesday just as the hermit state appears to be backing away from a disarmament deal, but analysts questioned why leader Kim Jong-il failed to appear. South Korea's military said
Published 10 Sep, 2008 12:00am
Congo sends troops to contain Ugandan rebels

Congo sends troops to contain Ugandan rebels

The Congolese army is deploying troops in a remote northern border region to try to box in Ugandan Lord's Resistance Army (LRA) rebels and stop them attacking civilians, a UN military spokesman said on Tuesday. Lieutenant-Colonel Jean-Paul Dietrich said t
Published 10 Sep, 2008 12:00am
US frees cameraman working for Baghdad TV station

US frees cameraman working for Baghdad TV station

The US military has released an Iraqi cameraman who works for a television station in Baghdad after detaining him in a raid last week. Cameraman Omar Hisham told Reuters he was freed on Friday, a day after being detained along with his father and two brot
Published 10 Sep, 2008 12:00am
Mysteries of universe at focus of giant project

Mysteries of universe at focus of giant project

Scientists at a vast underground Swiss laboratory will launch an experiment on Wednesday to re-enact the "Big Bang" on a small scale to explain the origins of the universe and how it came to harbour life. The Large Hadron Collider, or LHC, will use giant
Published 10 Sep, 2008 12:00am
Petrova warms to Bali with easy win

Petrova warms to Bali with easy win

Russian Nadia Petrova made the adjustment to searing tropical heat Tuesday, posting a 6-3, 6-1 opening win over Japan's Aiko Nakamura to reach the second round of the Bali Open. The fourth seed, who lost in the US Open third round to the third seed here F
Published 10 Sep, 2008 12:00am
Vaughan handed central contract

Vaughan handed central contract

Former captain Michael Vaughan, who stood down during this year's series defeat by South Africa, is among 12 players given central contracts, the England and Wales Cricket Board (ECB) said on Tuesday. Vaughan, desperately short of runs for England and his
Published 10 Sep, 2008 12:00am
Sidebottom faces Stanford fitness test

Sidebottom faces Stanford fitness test

England pace bowler Ryan Sidebottom will have to prove his fitness before being given the chance to earn one million dollars (500,000 pounds) in the winner-takes-all Stanford Twenty20 clash in November.
Published 10 Sep, 2008 12:00am
Pressure on Argentina as Brazil star rises

Pressure on Argentina as Brazil star rises

Olympic glory may have gone to Argentina but it is Brazil's star which is currently rising in the Latin American World Cup qualifiers. A weekend draw against Paraguay was Argentina's fourth winless match whereas Brazil are on the up after following up on
Published 10 Sep, 2008 12:00am
Hearing on Shoaib's appeal against ban postponed

Hearing on Shoaib's appeal against ban postponed

A hearing on fast bowler Shoaib Akhtar's appeal against an 18-month ban was postponed Tuesday because the judge was not available, a lawyer for the Pakistan Cricket Board said. The 33-year-old paceman is appealing the ban and a fine of seven million rupee
Published 10 Sep, 2008 12:00am
'Brutal' Ribery on course for Champions League

'Brutal' Ribery on course for Champions League

Bayern Munich midfielder Franck Ribery is on course to play in the Champions League later this month and has impressed coach Jurgen Klinsmann with his "brutal" rehab work following ankle surgery. French star Ribery tore ankle ligaments playing for France
Published 10 Sep, 2008 12:00am
Ganguly may quit international cricket

Ganguly may quit international cricket

Former India captain Sourav Ganguly may quit international cricket "sooner rather than later" with him facing the axe for the upcoming home series against Australia, a report said Tuesday. The 36-year-old was left out of the Rest of India squad for the fi
Published 10 Sep, 2008 12:00am
Federer wins fifth US Open in a row for 13th Slam crown

Federer wins fifth US Open in a row for 13th Slam crown

Roger Federer won his 13th Grand Slam crown and fifth consecutive US Open title on Monday, defeating British sixth seed Andy Murray 6-2, 7-5, 6-2 to move one Slam title shy of the all-time record. Federer's 56th career crown moved him into sole possession
Published 10 Sep, 2008 12:00am
Nadal heads Spanish hopes

Nadal heads Spanish hopes

Spain's skipper Emilio Sanchez Vicario unveiled Tuesday his five-man squad for the Davis Cup semi-final against the United States with world number one Rafa Nadal his linchpin. Nadal, semi-finalist at the just finished US Open but who dethroned Roger Fede
Published 10 Sep, 2008 12:00am
UK hails mighty Murray

UK hails mighty Murray

British newspapers and former players insisted Tuesday that Andy Murray was destined for Grand Slam success despite losing in straight sets to Roger Federer in the US Open final. The tenacious Scot, 21, was the first British player to reach a Grand Slam f
Published 10 Sep, 2008 12:00am
UAE ambassador takes up Baghdad post

UAE ambassador takes up Baghdad post

The United Arab Emirates ambassador to Iraq took up his post on Tuesday, becoming the first Arab ambassador in Baghdad since Egypt's envoy was kidnapped and killed in 2005. Iraqi Vice President Tareq al-Hashemi hailed the arrival of ambassador Abdullah Ib
Published 10 Sep, 2008 12:00am
World wants Obama to be next US president: poll

World wants Obama to be next US president: poll

Most people across the world would prefer Democrat Barack Obama to win the US presidential election over his Republican rival John McCain, a new poll spanning 22 countries showed Tuesday. The BBC World Service survey found the most common view in all nati
Published 10 Sep, 2008 12:00am
For White House rivals, dust still not settled from 9/11

For White House rivals, dust still not settled from 9/11

Seven years on, al Qaeda's catastrophic attacks on the United States go a long way to defining this year's White House race even as Barack Obama and John McCain put on a veneer of unity to commemorate Thursday's anniversary.
Published 10 Sep, 2008 12:00am
Saudi Arabia to release Iraqi prisoners

Saudi Arabia to release Iraqi prisoners

Saudi Arabia will repatriate all Iraqi prisoners in Saudi jails under a new agreement, Iraq's national security advisor said on Tuesday, a move that could help slowly warming ties between the two nations. The agreement, struck during a visit by national s
Published 10 Sep, 2008 12:00am
Democrats criticise Bush's troop plan for both wars

Democrats criticise Bush's troop plan for both wars

Top US Democrats on Tuesday criticised President George W. Bush for not sending enough resources to Afghanistan to combat soaring violence and for pulling too few American troops out of Iraq.
Published 10 Sep, 2008 12:00am
Russia criticises US for pulling nuclear deal

Russia criticises US for pulling nuclear deal

Russia said on Tuesday it regretted a decision by US President George W. Bush to freeze a major bilateral civilian nuclear pact but said Moscow wanted nuclear co-operation with the United States to continue. The United States said on Monday that Bush woul
Published 10 Sep, 2008 12:00am
EU and Ukraine eye new pact on ties in 2009

EU and Ukraine eye new pact on ties in 2009

Leaders of the European Union and Ukraine agreed on Tuesday to deepen ties, but the 27-nation EU stopped short of offering Kiev a firm membership pledge. "We are convinced that in 2009 we will sign a very symbolic document cementing relations between Ukra
Published 10 Sep, 2008 12:00am
Angry South Asia flood victims protest in streets

Angry South Asia flood victims protest in streets

Fresh monsoon flooding brought more death and distress across South Asia on Tuesday, while many of the hundreds of thousands of flood victims in relief camps complained of poor facilities. Seven people drowned when overnight rains caused more flooding in
Published 10 Sep, 2008 12:00am
Serb parliament embraces EU with early pact

Serb parliament embraces EU with early pact

Serbia overwhelmingly backed a European Union pre-membership pact on Tuesday as well as an energy pact with Russia, in what the prime minister called a bid to build a bridge between the East and West. The 250-seat parliament voted 140 to 28 for the Stabil
Published 10 Sep, 2008 12:00am
Ghaffur suspended amid discrimination claim in UK

Ghaffur suspended amid discrimination claim in UK

Britain's most senior Asian policeman, who has brought a discrimination case against the Metropolitan Police, has been temporarily relieved of his duties, Scotland Yard said on Tuesday. Assistant Commissioner Tarique Ghaffur will go on immediate leave fol
Published 10 Sep, 2008 12:00am
Indian pair, debutants make Booker Prize shortlist

Indian pair, debutants make Booker Prize shortlist

Authors from India, Britain, Australia and Ireland, including two debut novelists, were among the six shortlisted for the 2008 Booker Prize on Tuesday. One of the literary world's most prestigious awards, the annual Booker Prize goes to the best work of f
Published 10 Sep, 2008 12:00am
US plans $7 billion missile-defence sale to UAE

US plans $7 billion missile-defence sale to UAE

The Bush administration is planning to sell the United Arab Emirates an advanced US missile defence system valued at up to $7 billion that could be used to defend against Iran, people who have attended briefings on the matter said on Monday.
Published 10 Sep, 2008 12:00am
Ike hits western Cuba, oil threat eases

Ike hits western Cuba, oil threat eases

Strong winds howled in the streets of Havana and thousands huddled in shelters as Hurricane Ike made its second Cuban landfall on Tuesday on a path that began to look less threatening for the heart of US oil production in the Gulf of Mexico.
Published 10 Sep, 2008 12:00am
Israel minister suggests kidnapping Iran president

Israel minister suggests kidnapping Iran president

A former top agent of Israel's intelligence agency Mossad suggested on Tuesday that Iranian President Mahmoud Ahmadinejad be snatched and dragged before the International Court of Justice.
Published 10 Sep, 2008 12:00am
'PPP yet to decide new co-chairman'

'PPP yet to decide new co-chairman'

Spokesperson of Pakistan People's Party Farhatullah Babar said on Tuesday that the new Co-chairman of the party has not yet been decided and earlier statements about it have no standing. "There is no reality about Faryal Talpur as new Co-chairperson of PP
Published 10 Sep, 2008 12:00am
Yuan rises versus dollar on strong mid-point

Yuan rises versus dollar on strong mid-point

China's yuan rose against the dollar on Tuesday after the central bank set its daily reference rate at a higher level, signalling it did not want a downtrend in the Chinese currency. Despite a substantial gain by the US Dollar Index on Monday, the Chinese
Published 10 Sep, 2008 12:00am
Indian rupee slumps

Indian rupee slumps

The Indian rupee dropped to fresh near two-year lows on Tuesday, weighed down by the dollar's broad strength against a basket of currencies, but central bank intervention checked a sharper decline. The partially convertible rupee ended at 44.84/85 per dol
Published 10 Sep, 2008 12:00am
Sterling strengthens

Sterling strengthens

Sterling strengthened against the dollar and euro on Tuesday, as dealers shrugged off yet more soft UK economic data and took advantage of the pound's slide to recent multi-year lows to buy it back at cheaper levels. A string of weak manufacturing output,
Published 10 Sep, 2008 12:00am
Dollar rallies versus majors in London

Dollar rallies versus majors in London

The dollar hit session highs versus a basket of currencies on Tuesday, while the yen surged broadly as investors concluded US action to save two top mortgage agencies did not alter fundamentals. A souring global growth outlook, that could not be papered o
Published 10 Sep, 2008 12:00am
Australian dollar tumbles to one-year low

Australian dollar tumbles to one-year low

The Australian dollar retreated to its lowest in over a year on Tuesday as investors quickly returned to worrying about slowing global growth and shied away from riskier trades in stocks and commodity currencies. The Aussie dollar got only fleeting suppor
Published 10 Sep, 2008 12:00am
European credit spreads broaden

European credit spreads broaden

European credit spreads widened on Tuesday, with fresh concerns about Lehman Brothers' capital needs eroding a short and sharp rally after the bailout of mortgage lenders Fannie Mae and Freddie Mac. By 1547 GMT, the investment-grade Markit iTraxx Europe i
Published 10 Sep, 2008 12:00am
European credit spreads broaden

European credit spreads broaden

European credit spreads widened on Tuesday, with fresh concerns about Lehman Brothers' capital needs eroding a short and sharp rally after the bailout of mortgage lenders Fannie Mae and Freddie Mac. By 1547 GMT, the investment-grade Markit iTraxx Europe i
Published 10 Sep, 2008 12:00am
Malaysian shares plunge

Malaysian shares plunge

Malaysian share prices ended down 0.7 percent on Tuesday as investors unwound positions ahead of opposition leader Anwar Ibrahim's scheduled court appearance on sodomy charges, dealers said. The Kuala Lumpur Composite Index fell 7.38 points to close at 1,
Published 10 Sep, 2008 12:00am
Tuesday's midday trade: financials drag down market

Tuesday's midday trade: financials drag down market

US stocks sank on Tuesday as fears about further problems in the financial sector resurfaced on anxiety about the ability of Lehman Brothers to raise much-needed capital. Shares of Lehman skidded more than 30 percent, suffering their biggest percentage de
Published 10 Sep, 2008 12:00am
Indian shares down

Indian shares down

Indian shares ended 0.30 percent down on Tuesday as investors locked in gains a day after global markets soared on a US bailout of two ailing mortgage lenders, dealers said. The benchmark 30-share Sensex index fell 44.21 points to 14,900.76 after recoveri
Published 10 Sep, 2008 12:00am
Asian bond spreads widen

Asian bond spreads widen

Asian bond spreads moved out on Tuesday as the sharp tightening in the previous session was seen as overdone in light of expectations for more weakness in the US housing sector and global economy. Spreads had tightened sharply on Monday after the US gover
Published 10 Sep, 2008 12:00am
Asian bond spreads widen

Asian bond spreads widen

Asian bond spreads moved out on Tuesday as the sharp tightening in the previous session was seen as overdone in light of expectations for more weakness in the US housing sector and global economy. Spreads had tightened sharply on Monday after the US gover
Published 10 Sep, 2008 12:00am
Britain's top share index falls

Britain's top share index falls

Britain's benchmark index ended lower on Tuesday as falling metal and oil prices dragged on heavyweight commodity stocks, while Washington's plan to take control of two mortgage lenders supported banks. The FTSE 100 was down 30.7 points, or 0.6 percent at
Published 10 Sep, 2008 12:00am
US rice limit-up

US rice limit-up

US rough rice futures on the Chicago Board of Trade rose the daily trading limit by midmorning on Monday on concerns about US harvest delays following recent heavy rains, traders said. As of 10:30 am CDT (1430 GMT), most-active November rice was up the 50
Published 10 Sep, 2008 12:00am
New York cotton futures tumble

New York cotton futures tumble

Cotton futures finished softer on Tuesday on investment fund liquidation and tumbling commodity markets, with analysts saying the glum mood may lead to further losses this week. Key December cotton futures fell 1.32 cents to finish at 64.28 cents per lb.
Published 10 Sep, 2008 12:00am
Copper buckles under mounting demand worries

Copper buckles under mounting demand worries

Copper slipped to a 7-1/2-month low and aluminium to a seven-month trough on Tuesday as the market worried about demand growth, particularly in China, the world's top consumer of industrial metals. Three-month copper on the London Metal Exchange hit $6,77
Published 10 Sep, 2008 12:00am
Brent crude falls below $100 a barrel

Brent crude falls below $100 a barrel

Brent crude oil slipped below the key level of 100 dollars a barrel Tuesday for the first time since April 2, sinking as low as 99.30 dollars in London. The sharp decline in Brent North Sea crude for October delivery came after Opec''s chief signalled the
Published 10 Sep, 2008 12:00am
Brent crude falls below $100 a barrel

Brent crude falls below $100 a barrel

Brent crude oil slipped below the key level of 100 dollars a barrel Tuesday for the first time since April 2, sinking as low as 99.30 dollars in London. The sharp decline in Brent North Sea crude for October delivery came after Opec's chief signalled the
Published 10 Sep, 2008 12:00am
Brent crude falls below $100 a barrel

Brent crude falls below $100 a barrel

Brent crude oil slipped below the key level of 100 dollars a barrel Tuesday for the first time since April 2, sinking as low as 99.30 dollars in London. The sharp decline in Brent North Sea crude for October delivery came after Opec's chief signalled the
Published 10 Sep, 2008 12:00am
Soft commodities decline

Soft commodities decline

Sugar, cocoa and coffee futures fell on Tuesday, tracking losses in many other commodities and oil, as a firm dollar helped fuel fund long liquidation. "Having been the hot ticket in the first half of the year, commodities are now seen as a sick dog," tra
Published 10 Sep, 2008 12:00am
London gold plummets

London gold plummets

Gold fell sharply, losing three percent on Tuesday, as investors continued to take money out of commodities following a broad rally in the US dollar. The sell-off spilled over into other precious metals, with silver and platinum dropping to their lowest i
Published 10 Sep, 2008 12:00am
US MIDDAY: coffee, cocoa down

US MIDDAY: coffee, cocoa down

Arabica coffee and US cocoa futures dropped in early trade on Tuesday, as longs liquidated positions on the heels of weak outside markets, traders said. Arabica coffee for December delivery was down 2.15 cents at $1.4085 per lb, by 9:10 am EDT (1310 GMT),
Published 10 Sep, 2008 12:00am
US MIDDAY: sugar slips

US MIDDAY: sugar slips

Raw sugar futures on ICE Futures US at 1240 GMT. October raw sugar contract was down 0.02 cent at 12.35 cents per lb. Volume was at 11,067 lots. Trading range from 12.30 to 12.48 cents.
Published 10 Sep, 2008 12:00am
US MIDDAY: corn weakens

US MIDDAY: corn weakens

September corn was down 11 cents at $5.22 per bushel, December was down 11 at $5.38. Lower on spillover pressure from crude oil and good crop weather in the US Midwest.
Published 10 Sep, 2008 12:00am
US MIDDAY: wheat weakens

US MIDDAY: wheat weakens

September wheat was down 15-3/4 cents at $7.07 per bushel, December was down 19-3/4 at $7.24. Extending this week's decline to the lowest spot wheat price in more than a year on spillover weakness from crude oil, corn and soyabeans, along with ongoing pre
Published 10 Sep, 2008 12:00am
US MIDDAY: soyabeans lower

US MIDDAY: soyabeans lower

September soyabean futures were down 14-1/2 cents at $11.80 per bushel, November was down 16-1/2 at $11.75-1/2. Lower on spillover pressure from crude oil and good Midwest crop weather for late-filling soyabeans. September soyameal was down $1.90 at $332.
Published 10 Sep, 2008 12:00am
US MIDDAY: copper drops

US MIDDAY: copper drops

US copper futures fell to a new 7-1/2-month low early Tuesday as ongoing strength in the dollar continued to fuel the market's downside momentum, with traders expecting a test of $3 a lb this week. Copper for December delivery was trading 4.00 cents lower
Published 10 Sep, 2008 12:00am
US MIDDAY: gold falls

US MIDDAY: gold falls

US gold futures started with mild losses then slid further in early Tuesday dealings when oil prices gave up ground after revised hurricane reports seemed to show Ike would bypass most US Gulf Coast oil operations and when the dollar turned up against the
Published 10 Sep, 2008 12:00am
EDB to link industries with international experts

EDB to link industries with international experts

The Engineering Development Board (EDB) has embarked on a comprehensive programme of linking various industries of Pakistan with international experts to enhance value-added products for export as well as increase production, a top EDB official said.
Published 10 Sep, 2008 12:00am
'20 percent MPAs can move no confidence against chief minister'

'20 percent MPAs can move no confidence against chief minister'

A resolution for a vote of no-confidence moved by not less than 20 per cent of the total membership of the provincial assembly may be passed against the Chief Minister. Senior Advocate and leading legal expert, M.Irshad Chaudhary told APP here on Tuesday
Published 10 Sep, 2008 12:00am
MoU signed to set up cleaning mechanism at Sandspit beach

MoU signed to set up cleaning mechanism at Sandspit beach

A memorandum of understanding (MoU) was signed between WWF Pakistan and Dawood Corporation Private Limited at Karachi to collaborate for the establishment of a regular beach cleaning mechanism at Sandspit Beach, Karachi. Dr Ghulam Akbar, Regional Director
Published 10 Sep, 2008 12:00am
Benazir Income Support cards to be issued next month: Naveed

Benazir Income Support cards to be issued next month: Naveed

Federal Finance Minister Syed Naveed Qamar has said that ensuring economic stability and democratic norms are the best revenge for the assassination of Shaheed Mohtarma Benazir Bhutto. The present government has initiated a number of projects to improve t
Published 10 Sep, 2008 12:00am
Aptma Chairman congratulates Zardari

Aptma Chairman congratulates Zardari

Chairman All Pakistan Textile Mills Association (APTMA) Punjab Zone, Akber Sheikh, has congratulated Asif Ali Zardari, Co-Chairman Pakistan Peoples Party (PPP), on his assumption of the Office of the President of Pakistan. The Presidency of Pakistan is a
Published 10 Sep, 2008 12:00am
PIA's losses

PIA's losses

PIA has declared an after tax loss of Rs 18 billion for the last six months period from January to June 2008. It is the highest recorded per month loss declared by PIA, since the time the airline has gone into a nosedive due to mismanagement, poor plannin
Published 10 Sep, 2008 12:00am
New York's Pakistanis pray for new start seven years after 9/11

New York's Pakistanis pray for new start seven years after 9/11

Pakistani-born builder Abdul Sageer is about to complete New York's newest mosque, but his face falls, seven years after the 9/11 attacks, when he wonders who will reconstruct his immigrant community. "Yes, we're putting up a building," says Sageer, 60, "
Published 10 Sep, 2008 12:00am
Good Morning: Savera waits for schooling in Zardari era

Good Morning: Savera waits for schooling in Zardari era

For all the joy and the jubilation, the optimism, and the cheer, the buoyancy and the bonhomie that has come with the installation of new President, Asif Ali Zardari, it surely is relevant to ask: what next? How soon will come the good news that this coun
Published 10 Sep, 2008 12:00am
How are games played in political processes?

How are games played in political processes?

In Denver, Colorado, an African-American was chosen for the first time as the presidential candidate of a major political party on the 45th anniversary of Martin Luther King's "I have a Dream" speech on the steps of the Lincoln Memorial. That Barack Obama
Published 10 Sep, 2008 12:00am
Inexcusable inefficiency

Inexcusable inefficiency

At a time the federal and provincial governments are making drastic cuts in their respective developmental budgets due to paucity of resources, the Asian Development Bank (ADB) is reported to have cancelled $400 million interest-free loan meant for an acc
Published 10 Sep, 2008 12:00am
Coming up to people's expectations

Coming up to people's expectations

At the very outset it must be said that whosoever advised President Zardari to address his maiden press conference jointly with Afghan President Hamid Karzai had very little sense of history. For his relentless blame-game against our country and its secur
Published 10 Sep, 2008 12:00am
Turkish Airlines keen to start daily flight for Pakistan

Turkish Airlines keen to start daily flight for Pakistan

The Turkish Airlines, the national flag carrier, is keen to start a daily flight from Istanbul to Karachi, Lahore and Islamabad. This was stated by the Chief Executive Officer of the Turkish Airlines, Dr Temel Kotil, in an interview here.
Published 10 Sep, 2008 12:00am
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