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Print - 2008-09-30
US Midwest bids for soyabeans and corn steady

US Midwest bids for soyabeans and corn steady

Spot basis bids for soyabeans and corn held steady in most locations around the US Midwest on Monday, but the market had a weak tone in anticipation of a pick-up in the pace of harvest in the coming days, grain dealers said. Farmers have harvested some ea
Published 30 Sep, 2008 12:00am
Russian grain prices on the decline

Russian grain prices on the decline

Russian grain prices declined in rouble terms last week, a fact which some analysts attributed to the strengthening of the Russian currency, while others said a downward trend was forming in the market.
Published 30 Sep, 2008 12:00am
Holiday mood prevails on cotton market

Holiday mood prevails on cotton market

Lacklustre business was again witnessed on the cotton market on Monday as most of the participants kept on the sidelines due to unavailability of transport, dealers said. The official spot rate was unchanged at Rs 3900, they said.
Published 30 Sep, 2008 12:00am
Wheat higher by Rs 200

Wheat higher by Rs 200

Firmness prevailed on the grain market on Monday as most of the commodity items maintained the overnight levels, dealers said. On the cereal side wheat prices were sharply higher by Rs 200 to Rs 2700-2715. Other items fluctuated during the day but settled
Published 30 Sep, 2008 12:00am
Costa Rica postpones rice purchase until next month

Costa Rica postpones rice purchase until next month

Costa Rica's National Rice Corporation on Thursday postponed a purchase for US rough rice until next month because bidding prices in a tender were too high, an official said. "The prices exceeded our expectations," said Oscar Campos, a board member of the
Published 30 Sep, 2008 12:00am
India Reliance sells 2nd October parcel to Koch

India Reliance sells 2nd October parcel to Koch

India's Reliance Industries sold an additional 80,000 tonnes of naphtha for October lifting from Sikka, bringing its total volume for the same month to 160,000 tonnes. The company sold the parcel for second-half October lifting to Koch, traders said on Mo
Published 30 Sep, 2008 12:00am
Copper prices fall sharply

Copper prices fall sharply

London copper prices fell 1.5 percent on Monday, after shedding 2.2 percent in the previous session, as a firm dollar, worries about demand and the form of a US plan to quarantine toxic debt weighed on sentiment. London Metal Exchange copper fell $100 to
Published 30 Sep, 2008 12:00am
Private banks rethinking gold, seen next big buyers

Private banks rethinking gold, seen next big buyers

Private banks could be the next big buyers in the global gold market, helping drive prices higher as they consider restocking bullion bars that were sold off in calmer times, the top HSBC gold trader said on Monday.
Published 30 Sep, 2008 12:00am
Egypt to seek sugar bids after holiday

Egypt to seek sugar bids after holiday

Egypt's Sugar and Integrated Industries Company (SIIC) said on Monday it hoped to buy sugar after the Eid-ul-Fitr holidays, and would seek new bids from October 7. "We hope that after the holidays the price will be lower and we can buy another cargo," Ram
Published 30 Sep, 2008 12:00am
Ghana cocoa purchases slower

Ghana cocoa purchases slower

Cocoa purchases declared by buyers to Ghana's Cocobod for the first week of the 2008/09 crop were 23,217.69 tonnes, down from 122,000 tonnes in the first week of the previous season, an industry source said on Friday.
Published 30 Sep, 2008 12:00am
Oil falls in Asia

Oil falls in Asia

World oil prices fell in Asian trade Monday after a proposed US government bailout of the financial sector moved closer to Congressional approval, dealers said. New York's main contract, light sweet crude for November delivery, fell 1.04 dollars to 105.85
Published 30 Sep, 2008 12:00am
New York cocoa higher

New York cocoa higher

New York cocoa futures drifted lower on Friday amid thin volume, as investors traded on technicals and sat ready for developments in Washington's proposed financial bailout plan, dealers said. Benchmark December cocoa contract rose $3 to finish at $2,743
Published 30 Sep, 2008 12:00am
Chile sees copper prices strong 'for some time'

Chile sees copper prices strong 'for some time'

Chile's government expects copper prices to remain high for some time and a sudden fall-off in demand is unlikely, the major exporter's mine minister told local radio on Friday. Santiago Gonzalez said the price outlook in the medium- to long-term scenario
Published 30 Sep, 2008 12:00am
Soya and corn fall on weak oil

Soya and corn fall on weak oil

US soybean and corn futures fell more than 2 percent to hit a one-week low on Monday, tracking a broader decline in commodities amid financial market concerns as US lawmakers got ready to vote on a $700 billion rescue package. Congressional leaders from b
Published 30 Sep, 2008 12:00am
Funds expand net longs in CBOT corn and soy: CFTC

Funds expand net longs in CBOT corn and soy: CFTC

Large speculators bulked up their net long position on the Chicago Board of Trade corn and soybean markets in the past week and reduced their net short position in wheat amid a continued strong global demand outlook for raw commodities like grains.
Published 30 Sep, 2008 12:00am
Malaysian palm oil falls

Malaysian palm oil falls

Malaysian palm oil futures plunged more than 8 percent on Monday due to losses in crude oil and demand concerns. The benchmark December contract on the Bursa Malaysia Derivatives Exchange lost 188 ringgit, or 8.13 percent, ending at 2,125 ringgit a tonne.
Published 30 Sep, 2008 12:00am
Alitalia rescue plan wins final union clearance

Alitalia rescue plan wins final union clearance

A billion-euro (1.45 billion dollar) rescue plan for Alitalia on Monday won final clearance for takeoff by the near bankrupt Italian flagship's workforce, media reports said. Two unions representing some four-fifths of Alitalia's flight attendants relucta
Published 30 Sep, 2008 12:00am
US consumer spending flat

US consumer spending flat

Hard-pressed US consumers curbed their spending during August despite an unexpected jump in incomes, according to a government report on Monday that implied worry about the economy's direction was deepening.
Published 30 Sep, 2008 12:00am
Central banks inject more cash as bank crisis deepens

Central banks inject more cash as bank crisis deepens

European central banks joined Asian counterparts in pumping more cash into paralysed money markets on Monday, but commercial banks preferred to hoard cash rather than lend to each other as the financial crisis spread in Europe.
Published 30 Sep, 2008 12:00am
Bernanke backs bailout compromise plan

Bernanke backs bailout compromise plan

Federal Reserve chairman Ben Bernanke voiced support Monday for a compromise struck by US lawmakers over the weekend on a massive rescue for the financial sector worth up to 700 billion dollars. "I welcome the agreement by the Congress and the administrat
Published 30 Sep, 2008 12:00am
Treasury opens money market guarantee programme

Treasury opens money market guarantee programme

The US Treasury Department said on Monday its temporary guarantee programme for money market mutual funds for assets held as of September 19 was now in effect for at least three months. The Treasury said each fund regulated by the Securities and Exchange
Published 30 Sep, 2008 12:00am
Treasury opens money market guarantee programme

Treasury opens money market guarantee programme

The US Treasury Department said on Monday its temporary guarantee programme for money market mutual funds for assets held as of September 19 was now in effect for at least three months. The Treasury said each fund regulated by the Securities and Exchange
Published 30 Sep, 2008 12:00am
India to sign Asean trade deal in mid-December

India to sign Asean trade deal in mid-December

India will sign a free trade deal with the Association of Southeast Asian Nations (Asean) as expected in December after around four years of talks, an Indian minister said on Monday. India said last year it wanted to lift two-way trade with Asean to $50 b
Published 30 Sep, 2008 12:00am
Switzerland to slip into recession in coming months

Switzerland to slip into recession in coming months

Switzerland will slip into a short recession in the coming months due to harsh international economic conditions but the worst will be over by 2009, experts at the Swiss economic institute KOF said Monday.
Published 30 Sep, 2008 12:00am
Brussels confident Fortis deal to respect EU rules

Brussels confident Fortis deal to respect EU rules

The European Commission said on Monday it was confident that measures by the Belgian, Dutch and Luxembourg states in a rescue of financial services group Fortis would comply with EU competition rules.
Published 30 Sep, 2008 12:00am
Oil prices should ease in coming months: IEA chief

Oil prices should ease in coming months: IEA chief

Oil prices should ease in coming months but extreme weather conditions and labour disputes in the industry could create new supply bottlenecks, the head of the international energy agency (IEA) said on Monday.
Published 30 Sep, 2008 12:00am
Mauritania promises to stick to fish deal: EU

Mauritania promises to stick to fish deal: EU

EU authorities have received a promise from Mauritania's military rulers that they will make proper use of EU cash in a four-year fishing deal, paving the way for funds to start flowing after nearly a month of delay.
Published 30 Sep, 2008 12:00am
It's everybody's problem, not just Wall Street's

It's everybody's problem, not just Wall Street's

Lawmakers in Washington have been scrambling over the last few days to build enough consensus to pass legislation approving a $700 billion package to help the ailing financial industry. Despite the fact that the present Republican President, the Federal R
Published 30 Sep, 2008 12:00am
Brazil central bank sees local demand key to rate policy

Brazil central bank sees local demand key to rate policy

Brazil's central bank raised its 2008 and 2009 inflation forecasts on Monday and said the expansion of domestic demand would be the primary factor dictating the course of future monetary policy. In its quarterly inflation report, the bank said that the be
Published 30 Sep, 2008 12:00am
Malaysia central bank sees risks from US meltdown

Malaysia central bank sees risks from US meltdown

The US financial crisis is in its early stages and may pose added risks to Malaysia's growth, its central bank head told Reuters in an interview on Monday, though she said it was not time to cut interest rates. Bank Negara Governor Zeti Akhtar Aziz, who h
Published 30 Sep, 2008 12:00am
Germany backs Hypo Real Estate rescue

Germany backs Hypo Real Estate rescue

The government threw a lifeline to cash-strapped lender Hypo Real Estate on Monday in an about-face just days after its finance minister said Germany's bank system was solid. Berlin agreed to provide the bulk of 35 billion euros ($50 billion) in credit gu
Published 30 Sep, 2008 12:00am
Dexia drops on capital hike report, board confers

Dexia drops on capital hike report, board confers

The board of Belgian-French financial group Dexia planned to finalise a response to the financial crisis later on Monday as its shares crashed to a record low on a report it planned a capital hike. The bank's shares in Brussels hit a 12-year low of 6.75 e
Published 30 Sep, 2008 12:00am
Spain's Zeltia in talks to sell anti-psoriasis drug

Spain's Zeltia in talks to sell anti-psoriasis drug

Spanish biotechnology firm Zeltia is in talks with three companies to sell the licence for its Kahalalide F drug to treat acute psoriasis, its chairman said on Monday. "We've decided that Kahalalide be used to treat psoriasis, where we've seen a very posi
Published 30 Sep, 2008 12:00am
Philippine economy sound, liquidity adequate

Philippine economy sound, liquidity adequate

The Philippine economy remains sound despite the global financial crisis and steady inflows of dollars from overseas Filipino workers are helping keep domestic liquidity adequate, the central bank chief said on Monday.
Published 30 Sep, 2008 12:00am
ICAP hit by uncertainty over level of profit growth

ICAP hit by uncertainty over level of profit growth

ICAP, the world's No 1 interdealer broker, expects to grow profits this financial year, but said it was unable to be more specific because of current market turmoil, hammering its shares to a three-year low.
Published 30 Sep, 2008 12:00am
Curacao oil refinery cat cracker snag

Curacao oil refinery cat cracker snag

The cat cracker unit at a 320,000 barrel-per-day oil refinery on the island of Curacao suffered a problem over the weekend, prompting officials to warn residents about pollution, a refinery statement said. The refinery, operated by Venezuelan state oil co
Published 30 Sep, 2008 12:00am
Italy to speed up energy projects approval

Italy to speed up energy projects approval

Italy will create a special body to speed up decisions on much-needed energy projects, Economic Development Minister Claudio Scajola said on Monday. Authorisation of big industrial projects is a lengthy, multi-stage process which requires approvals from c
Published 30 Sep, 2008 12:00am
Swiss economy to slip into brief recession

Swiss economy to slip into brief recession

The Swiss economy is likely to follow other European countries into a brief recession and the Swiss National Bank will try to revive growth by cutting interest rates twice, the KOF research institute said on Monday. Swiss gross domestic product will grow
Published 30 Sep, 2008 12:00am
Hope for market bottom energises US mortgage bonds

Hope for market bottom energises US mortgage bonds

Troubled residential and commercial mortgage assets are posting their biggest rallies in months on expectations the US Treasury's plan to relieve financial institutions of beaten-down assets will help find the elusive floor for nearly $8 trillion in asset
Published 30 Sep, 2008 12:00am
Hope for market bottom energises US mortgage bonds

Hope for market bottom energises US mortgage bonds

Troubled residential and commercial mortgage assets are posting their biggest rallies in months on expectations the US Treasury's plan to relieve financial institutions of beaten-down assets will help find the elusive floor for nearly $8 trillion in asset
Published 30 Sep, 2008 12:00am
Philippines shares rise

Philippines shares rise

Philippines share prices closed 0.4 percent higher on Monday as investors cheered the agreement of a 700 billion-dollar rescue package for the stricken US financial sector, dealers said. The composite index added 10.35 points to 2,607.58.
Published 30 Sep, 2008 12:00am
Singapore shares decline

Singapore shares decline

Singapore shares closed 2.08 percent lower on Monday as the global financial crisis claimed new victims among Europe's ailing banks, dealers said. The blue chip Straits Times Index fell 50.12 points to 2,361.34. Volume totalled one million shares worth 1.
Published 30 Sep, 2008 12:00am
South Korean shares close 1.35 percent lower

South Korean shares close 1.35 percent lower

South Korean shares closed 1.35 percent lower on Monday as steep falls in the won fanned worries about local financial markets, amid lingering concerns about the effectiveness of the US rescue package. The KOSPI index fell 19.97 points to 1,456.36. Volume
Published 30 Sep, 2008 12:00am
Hong Kong shares drop 4.3 percent

Hong Kong shares drop 4.3 percent

Hong Kong share prices closed down 4.3 percent on Monday, as banking giant HSBC bumped up its mortgage rate, sending property stocks tumbling, dealers said. The benchmark Hang Seng Index closed down 801.41 points at 17,880.68. Turnover remained light at 5
Published 30 Sep, 2008 12:00am
US IPOs dwindle in third quarter

US IPOs dwindle in third quarter

The market for initial public offerings in the United States continued its precipitous fall in the third quarter, dropping to levels not seen in more than five years. The IPO market has reached near paralysis after a second quarter, which had been the wor
Published 30 Sep, 2008 12:00am
Australian stocks fall two percent

Australian stocks fall two percent

Australian share prices dropped 2.0 percent on Monday ahead of a vote by US lawmakers on a bailout package for Wall Street costing 700 billion US dollars. The benchmark S&P/ASX 200 slipped 97.4 points to close at 4,807.4 while the broader All Ordinaries w
Published 30 Sep, 2008 12:00am
New Zealand shares close little changed

New Zealand shares close little changed

New Zealand share prices closed barely changed on Monday amid continuing uncertainty over global financial stability, dealers said. The benchmark NZX-50 index rose 0.95 points to 3,188.54 on light turnover worth 65.5 million dollars (44.9 million US). Fal
Published 30 Sep, 2008 12:00am
Thai share prices close 2.86 percent lower

Thai share prices close 2.86 percent lower

Thai share prices closed 2.86 percent lower on Monday amid fears about the global financial crisis following the latest news about troubles in the European financial sector, dealers said. They said Thai market fell due to losses in big-cap energy and bank
Published 30 Sep, 2008 12:00am
Jakarta shares dip

Jakarta shares dip

Indonesian shares closed 0.7 percent lower on Monday, weighed down by falls in most Asian markets amid renewed concerns over the US financial rescue plan, dealers said. The Jakarta Composite Index slipped to 1,832.50 in thin volume, off an intraday low of
Published 30 Sep, 2008 12:00am
Malaysian shares tumble

Malaysian shares tumble

Malaysian share prices eased 0.1 percent on Monday, in thin volume ahead of the Eid-ul-Fitr celebrations marking the end of the Muslim fasting month of Ramazan, dealers said. The Kuala Lumpur Composite Index dropped 0.81 points to close at 1,019.72. Decli
Published 30 Sep, 2008 12:00am
Deutsche Boerse eyes more Chinese IPOs

Deutsche Boerse eyes more Chinese IPOs

Deutsche Boerse will go ahead with plans to open an office in Beijing to attract Chinese IPOs, despite the global financial crisis, a senior official at the exchange said. "We are at the downward phase, but it won't hinder us to promote the Deutsche Boers
Published 30 Sep, 2008 12:00am
Tokyo shares slide

Tokyo shares slide

Japanese shares ended down 1.26 percent on Monday as global financial turmoil claimed fresh victims in Europe and investors waited nervously for the US Congress pass a huge Wall Street bailout plan. The Tokyo Stock Exchange's benchmark Nikkei-225 index lo
Published 30 Sep, 2008 12:00am
Dollar overnight rates steady in Asia

Dollar overnight rates steady in Asia

Short-term US dollar funding rates in Asia remained steady even as news of the biggest bank failure in the United States and stalled negotiations over the government's bailout plan for credit markets raised fresh nervousness. Overnight dollar funds remain
Published 30 Sep, 2008 12:00am
Money market funds fell by $15.65 billion

Money market funds fell by $15.65 billion

Total US money market mutual fund assets decreased by $15.65 billion to $3.398 trillion in the week ended September 24, the Investment Company Institute said on Thursday. Retail money market fund assets fell by $7.27 billion to $1.237 trillion, the indust
Published 30 Sep, 2008 12:00am
Money market funds fell by $15.65 billion

Money market funds fell by $15.65 billion

Total US money market mutual fund assets decreased by $15.65 billion to $3.398 trillion in the week ended September 24, the Investment Company Institute said on Thursday. Retail money market fund assets fell by $7.27 billion to $1.237 trillion, the indust
Published 30 Sep, 2008 12:00am
Dollar gets modest boost in Asia

Dollar gets modest boost in Asia

The dollar rose against other major currencies in Asian trade Monday but came off early highs after US lawmakers reached a consensus on an unprecedented bailout of Wall Street, dealers said. They said the euro was bogged down by fears that Europe's own fi
Published 30 Sep, 2008 12:00am
BoJ injects more funds into financial system

BoJ injects more funds into financial system

Japan's central bank on Monday injected 1.9 trillion yen (17.8 billion dollars) into the Tokyo money market to ease strains caused by recent financial turmoil on Wall Street. It was the ninth consecutive business day that the Bank of Japan (BoJ) has pumpe
Published 30 Sep, 2008 12:00am
ECB announces special 38-day cash loans

ECB announces special 38-day cash loans

The European Central Bank announced on Monday a special 38-day loan to provide eurozone banks with more cash in a bid to balance conditions on extremely tense interbank money markets. The announcement came shortly before the British government announced t
Published 30 Sep, 2008 12:00am
New Zealand dollar gains

New Zealand dollar gains

The New Zealand dollar pushed up on Friday, helped by a weaker US currency and after better-than-expected gross domestic product data suggested the economy will only suffer a mild recession. The kiwi rose about half a cent after data showed the economy co
Published 30 Sep, 2008 12:00am
Pakistan has the highest rate of breast cancer: report

Pakistan has the highest rate of breast cancer: report

Pakistan has the highest rate of breast cancer for any Asian population. It is the commonest cancer observed in females, representing more than one third of female cancers and about one fourth of all malignancies. Every year, approximately 90,000 women ar
Published 30 Sep, 2008 12:00am
Railway passenger traffic drops due to sabotage threats

Railway passenger traffic drops due to sabotage threats

The Pakistan Railway passenger traffic up and down country for this Eid has considerably dropped due to security concerns and sabotage threats. The PR had announced to run five special trains between various cities on September 29 and 30 as thousands of p
Published 30 Sep, 2008 12:00am
Agha Taj Muhammad public park at Sindh university inaugurated

Agha Taj Muhammad public park at Sindh university inaugurated

The Vice Chancellor, Mazharul Haq Siddiqui on Monday inaugurated the renovated Agha Taj Muhammad public park at the residential colony of Sindh University (SU) Jamshoro. The park named after the first registrar of the SU, Agha Taj Muhammad (1947-1962) was
Published 30 Sep, 2008 12:00am
NAB told not to harass Double Shah's wife

NAB told not to harass Double Shah's wife

The Lahore High Court (LHC) has directed the National Accountability Bureau (NAB) not to harass Kausar Nisa, wife of Sibtul Hassan Shah alias Double Shah. A division bench comprising Justice Hasnat Ahmed Khan and Justice M.A. Zafar passed this order on Mo
Published 30 Sep, 2008 12:00am
Farmers' bodies welcome wheat support price

Farmers' bodies welcome wheat support price

Farmers' associations have welcomed the government decision of fixing wheat support price at Rs 950 per 40 kg for the coming crop and termed it a reasonable and timely decision. Although farmers' demand were high, the price is quite reasonable,' the leade
Published 30 Sep, 2008 12:00am
Punjab increases wheat price

Punjab increases wheat price

Punjab Food Department has increased the price of wheat issued to the flourmills from government stocks, from Rs 545 per maund to Rs 690, officials said. Thus the new price of 20kg flour bag, would be Rs 390 (Ex-Mill) after the increase of Rs 145 in the w
Published 30 Sep, 2008 12:00am
CIF Gulf corn and soya steady

CIF Gulf corn and soya steady

US Gulf CIF corn and soyabean basis values held steady Monday amid little fresh export demand and tight supplies of empty barges, trader said. Declines in crude oil and a stronger US dollar seen pressuring CBOT grains, with corn called to open down 12 to
Published 30 Sep, 2008 12:00am
Ukraine seeks new grain export rules

Ukraine seeks new grain export rules

Lawmakers from two major Ukrainian parliamentary factions proposed that parliament revise the purchase system for grain exports, according to a bill published on Monday. The new system would only allow exports of grain produced by the exporters themselves
Published 30 Sep, 2008 12:00am
South African maize, wheat futures fall

South African maize, wheat futures fall

South Africa's benchmark maize and wheat futures closed lower on Monday, following weaker international prices on the Chicago Board of Trade (CBOT), traders said. The most traded December white maize contract ended down 1.99 percent, or 39 rand, at 1,923
Published 30 Sep, 2008 12:00am
Cargo surcharge imposed as Rhine water level falls

Cargo surcharge imposed as Rhine water level falls

Low water cargo surcharges have been imposed for cargo shipping on parts of the river Rhine in central Germany following a fall in water levels, traders said on Wednesday. Water levels at Cologne in central Germany have fallen below the minimum that vesse
Published 30 Sep, 2008 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 266,780 tonnes of cargo including 143,386 tonnes of import, 123,394 tonnes of export cargo and 1,931 loaded and empty containers (TEUs) during last 48 hours ending at 0700 hours on Monday.
Published 30 Sep, 2008 12:00am
Russia name squad for World Cup qualifiers

Russia name squad for World Cup qualifiers

Russia coach Guus Hiddink on Monday named the following 22-man squad for 2010 World Cup, European Group Four qualifiers away to Germany on October 11 and at home to Finland four days later.
Published 30 Sep, 2008 12:00am
Pienaar arrested after alleged assault

Pienaar arrested after alleged assault

South Africa midfielder Steven Pienaar has been arrested following an alleged assault on a woman in Liverpool. Everton star Pienaar, 26, went to a police station voluntarily on Sunday morning and was arrested after officers were called to investigate an i
Published 30 Sep, 2008 12:00am
United penalty row rumbles on

United penalty row rumbles on

Bolton captain Kevin Nolan has revealed that even Manchester United's players couldn't believe Rob Styles gave them a penalty on Saturday. Styles awarded a spot-kick at Old Trafford following Jlloyd Samuel's tackle on Cristiano Ronaldo, even though the Bo
Published 30 Sep, 2008 12:00am
Yousuf gets a Twenty20 lifeline

Yousuf gets a Twenty20 lifeline

The Pakistan Cricket Board (PCB) has thrown a Twenty20 lifeline to senior batsman Mohammad Yousuf after naming him among the probables for a four-nation tournament in Toronto next month. Pakistan's top test and one-day batsman, who has bitterly complained
Published 30 Sep, 2008 12:00am
Morita reaches Japan Open second round

Morita reaches Japan Open second round

Japanese wild card entrant Ayumi Morita repeated her Olympic performance to beat Marina Erakovic of New Zealand in the first round of the Japan Open on Monday. The 18-year-old Morita, who eliminated Erakovic in the first round in Beijing in August, needed
Published 30 Sep, 2008 12:00am
India's new selection chief embarks on World Cup mission

India's new selection chief embarks on World Cup mission

India's newly-appointed chief selector Krishnamachari Srikkanth said on Monday he has set his sights on building a winning team for the 2011 World Cup. "We will develop a team towards the World Cup 2011," the former opening batsman, who played a key role
Published 30 Sep, 2008 12:00am
Don't underestimate Aussies, Tendulkar tells India

Don't underestimate Aussies, Tendulkar tells India

Batting ace Sachin Tendulkar said on Monday Australia would be tough to beat in the upcoming Test series in India despite their lack of experience. Only four Australians - skipper Ricky Ponting, Matthew Hayden, Michael Clarke and Simon Katich - have playe
Published 30 Sep, 2008 12:00am
Shah, Swann named in England squad for India tour

Shah, Swann named in England squad for India tour

Owais Shah and Graeme Swann have been named in England's 15-man squad for the forthcoming two-Test tour of India. Middlesex star Shah pipped Young Cricketer of the Year Ravi Bopara to the last batting spot after a prolific campaign.
Published 30 Sep, 2008 12:00am
Belarus opposition fail to win single seat

Belarus opposition fail to win single seat

Opposition parties in Belarus failed to win a single seat in parliamentary elections seen as a test of the former Soviet state's democracy, the electoral commission said Monday. "Not a single opposition candidate was elected, at least not among those repr
Published 30 Sep, 2008 12:00am
Four dead in Darfur helicopter crash

Four dead in Darfur helicopter crash

A helicopter contracted to UN-led peacekeepers crashed in Sudan's Darfur region on Monday, killing all four crew members, after being fired at, the Sudanese police said. The helicopter was contracted by the joint African Union-United Nations peacekeeping
Published 30 Sep, 2008 12:00am
Israel must give up almost all West Bank: Olmert

Israel must give up almost all West Bank: Olmert

Prime Minister Ehud Olmert said Israel must give up almost the entire occupied West Bank including east Jerusalem as the price for peace with the Palestinians, in an interview published on Monday. "What I am saying to you now has not been said by any Isra
Published 30 Sep, 2008 12:00am
France and India vow to boost civil nuclear cooperation

France and India vow to boost civil nuclear cooperation

Indian and French leaders vowed Monday to boost nuclear energy co-operation at an annual summit on EU-India ties dominated by trade, global warming and the world financial crisis. "France, which has great trust in India and its prime minister, has worked
Published 30 Sep, 2008 12:00am
Technology is no panacea, Gates tells US military

Technology is no panacea, Gates tells US military

Defence Secretary Robert Gates urged the US military on Monday not to believe that technology can solve every problem and suggested quick-fix, low-tech solutions can sometimes be more valuable. The comments reflect Gates' vision of a US military that can
Published 30 Sep, 2008 12:00am
EU agrees on $6.5 billion aid for candidate states

EU agrees on $6.5 billion aid for candidate states

The European Union's executive arm agreed on Monday how to spend 4.5 billion euros ($6.5 billion) in aid to the bloc's candidate countries in 2008-10, giving priority to improving governance and the rule of law. The European Commission's decision brings c
Published 30 Sep, 2008 12:00am
Russia acts to secure Indian defence market

Russia acts to secure Indian defence market

Russia on Monday offered its former Cold War ally India the chance to jointly develop weapon systems in a bid to remain New Delhi's main provider of arms. With India increasingly looking elsewhere for its armament needs, visiting Russian Defence Minister
Published 30 Sep, 2008 12:00am
Four Lebanese soldiers killed in bomb blast

Four Lebanese soldiers killed in bomb blast

Four Lebanese soldiers were killed on Monday in a car bombing targeting an army bus on the outskirts of the restive northern city of Tripoli, security and military officials said. They said 26 soldiers and two civilians were also wounded in the second dea
Published 30 Sep, 2008 12:00am
Lack of funds threatens UN atomic watchdog, says ElBaradei

Lack of funds threatens UN atomic watchdog, says ElBaradei

The International Atomic Energy Agency (IAEA) chief urged 145 member states on Monday to get to grips with an IAEA funding crisis undermining its ability to prevent nuclear proliferation threats. Opening the UN watchdog's annual assembly, Mohamed ElBarade
Published 30 Sep, 2008 12:00am
Russian helicopters for Chad expose EU shortfall

Russian helicopters for Chad expose EU shortfall

The European Union expects Russia to supply it with helicopters for its Chad peace mission despite its dispute with Moscow over Georgia. The 27-nation EU hopes to reach agreement to allow the supply of four Russian transport helicopters in November, EU of
Published 30 Sep, 2008 12:00am
Hekmatyar claims French ambush: report

Hekmatyar claims French ambush: report

Afghan insurgent leader Gulbuddin Hekmatyar has claimed responsibility in a video message for an August ambush that killed 10 French soldiers, an Afghan news agency reported Monday, saying it had seen the footage. In the video statement, Hekmatyar also sa
Published 30 Sep, 2008 12:00am
Egypt desert hostages freed after 10-day ordeal

Egypt desert hostages freed after 10-day ordeal

A group of European tourists and their guides snatched by armed bandits in a remote desert 10 days ago were freed unharmed in a pre-dawn raid by Egyptian special forces on Monday, officials said.
Published 30 Sep, 2008 12:00am
Euro, pound tumble in London

Euro, pound tumble in London

The euro and sterling tumbled more than 2 percent against the dollar on Monday as the impact of the latest financial storm fanned out beyond the United States, forcing bank nationalisation's in Europe. European banking sector troubles, which also sent sha
Published 30 Sep, 2008 12:00am
Interbank dollar rates, spreads high

Interbank dollar rates, spreads high

Interbank dollar borrowing rates remained high and premia paid over US government borrowing rates stayed wide on Friday, with money markets clogged up as US political wrangling appeared to stall the passing of a $700 billion financial crisis bailout plan.
Published 30 Sep, 2008 12:00am
Indian rupee drops to five-year low

Indian rupee drops to five-year low

India's rupee dived to a five-year low on Monday, as weak local and global stocks and month-end dollar demand from oil firms dragged heavily while intervention by state-run banks offered little respite. The partially convertible rupee ended at 46.95/96 pe
Published 30 Sep, 2008 12:00am
Sterling hits 10-day low

Sterling hits 10-day low

Sterling hit a 10-day low against the dollar on Monday after UK lender Bradford & Bingley was nationalised, snapping attention away from US financial sector worries. The deepening banking sector and money market crisis against a backdrop of slowing growth
Published 30 Sep, 2008 12:00am
Indian shares down 3.87 percent

Indian shares down 3.87 percent

Indian shares fell 3.87 percent Monday, as banking stocks slid on concerns of more writedowns across the globe while traders waited for the US Congress to pass the Wall Street bailout. The BSE benchmark 30-share Sensex index closed down 506.43 points at 1
Published 30 Sep, 2008 12:00am
FTSE plummets to three-year low

FTSE plummets to three-year low

Britain's top share index plummeted on Monday to a three-year closing low, part of a global equities slide triggered by tottering banks and ahead of a vote by US lawmakers on a $700 billion rescue plan. The FTSE 100 index ended down 269.7 points, or 5.3 p
Published 30 Sep, 2008 12:00am
Soya, corn fall in Asia

Soya, corn fall in Asia

US soybean and corn futures fell more than 2 percent to hit a one-week low on Monday, tracking a broader decline in commodities amid financial market concerns as US lawmakers got ready to vote on a $700 billion rescue package.
Published 30 Sep, 2008 12:00am
New York cotton futures plummet

New York cotton futures plummet

Cotton futures closed sharply lower Monday on heavy investor liquidation as the market was discouraged by news a bank bailout deal may not win approval in the US Congress, brokers said. The benchmark December cotton contract fell 3.00 cents to finish at t
Published 30 Sep, 2008 12:00am
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