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Print - 2009-01-08
South Korea's Nonghyup may cut corn imports by 20 percent

South Korea's Nonghyup may cut corn imports by 20 percent

South Korea's biggest feed maker Nonghyup Feed may cut corn imports by 20 percent this year due to falling demand from local livestock farmers, and could raise cheaper wheat buys, a senior company official said on Wednesday.
Published 08 Jan, 2009 12:00am
Japan buys wheat and barley

Japan buys wheat and barley

Japan's Ministry of Agriculture bought 11,215 tonnes of feed wheat and 176,320 tonnes of feed barley in a tender under the simultaneous buy and sell (SBS) system that closed on Wednesday, a ministry official said. The volume falls short of its purchase ta
Published 08 Jan, 2009 12:00am
KCBT wheat futures end higher

KCBT wheat futures end higher

Hard red winter wheat futures on the Kansas City Board of Trade ended more than 4 percent higher on Tuesday as fund buying and stronger outside markets lifted wheat prices. The benchmark March ended up 27-3/4 cents, or 4.3 percent, at $6.70 per bushel, wi
Published 08 Jan, 2009 12:00am
US Plains HRW wheat bids steady

US Plains HRW wheat bids steady

Spot basis bids for hard red winter wheat in the US Plains were mostly steady on Wednesday, with farmer selling picking up following recent gains in KCBT futures, traders said. Basis bids in the Goodland area in Kansas were down 5 cents a bushel amid the
Published 08 Jan, 2009 12:00am
US wheat futures higher

US wheat futures higher

US wheat futures rose on Tuesday, led by a 4.3 percent rise in the nearby Chicago Board of Trade contract, due to technical fund buying, traders said. Short covering also added support as traders scrambled to cover open positions as the market rose.
Published 08 Jan, 2009 12:00am
LyondellBasell US units file for bankruptcy

LyondellBasell US units file for bankruptcy

The US operations of LyondellBasell, the world's third-largest petrochemical company, filed for bankruptcy protection under the weight of a massive debt load and slumping demand for its products. The company had taken on billions of dollars in debt obliga
Published 08 Jan, 2009 12:00am
Japan plans to scrap taxes for foreign investors

Japan plans to scrap taxes for foreign investors

Japan plans to end capital gains taxes for foreigners investing in Japanese companies through funds, aiming to kick-start investment that has slowed amid the global economic downturn, a Financial Services Agency official said. Tokyo's benchmark Nikkei sha
Published 08 Jan, 2009 12:00am
California governor vetoes Democrats' budget plan

California governor vetoes Democrats' budget plan

Republican California Governor Arnold Schwarzenegger has vetoed a budget plan pressed by Democrats who control the state legislature, an aide said on Tuesday evening. Schwarzenegger's veto came after Republican lawmakers joined anti-tax activists in a law
Published 08 Jan, 2009 12:00am
Packaging and trucking companies could struggle in 2009

Packaging and trucking companies could struggle in 2009

Corporate bankruptcies could increase in 2009, with companies in packaging, trucking and media most at risk if they do not take decisive actions to revamp their operations, the chief executive of restructuring company AlixPartners said on Tuesday.
Published 08 Jan, 2009 12:00am
Packaging and trucking companies could struggle in 2009

Packaging and trucking companies could struggle in 2009

Corporate bankruptcies could increase in 2009, with companies in packaging, trucking and media most at risk if they do not take decisive actions to revamp their operations, the chief executive of restructuring company AlixPartners said on Tuesday.
Published 08 Jan, 2009 12:00am
Packaging and trucking companies could struggle in 2009

Packaging and trucking companies could struggle in 2009

Corporate bankruptcies could increase in 2009, with companies in packaging, trucking and media most at risk if they do not take decisive actions to revamp their operations, the chief executive of restructuring company AlixPartners said on Tuesday.
Published 08 Jan, 2009 12:00am
CES-HP shows off new netbook, ultra-light PCs

CES-HP shows off new netbook, ultra-light PCs

Hewlett-Packard Co is unveiling a host of cost-conscious PC products, including a new netbook targeted at professionals, a pair of ultra-light notebooks, and a new gaming and multimedia PC. The products were announced on Tuesday ahead of the Consumer Elec
Published 08 Jan, 2009 12:00am
Chile posts trade deficit of $224 million in December

Chile posts trade deficit of $224 million in December

Chile posted a trade deficit of $224 million in December compared with a $837 million surplus a year earlier, while the 2008 surplus narrowed 57 percent from a record to $10.160 billion, the central bank said on Wednesday. The country's trade surplus has
Published 08 Jan, 2009 12:00am
STMicro, Infineon in EU smart chip cartel probe

STMicro, Infineon in EU smart chip cartel probe

Chipmakers STMicroelectronics and Infineon Technologies said on Wednesday the European Commission had raided their premises in October as part of a cartel investigation concerning smart card chips. Dutch chipmaker NXP, spun off by Philips Electronics to a
Published 08 Jan, 2009 12:00am
Indonesia central bank cuts rates, sees room to ease again

Indonesia central bank cuts rates, sees room to ease again

Indonesia's central bank slashed interest rates more than expected on Wednesday and said it may cut again to spur economic growth, just days after the government announced a $6.6 billion fiscal stimulus package. The half-point cut aims to soften the impac
Published 08 Jan, 2009 12:00am
China faces wave of unrest in 2009

China faces wave of unrest in 2009

China faces surging protests and riots in 2009 as rising unemployment stokes discontent, a state-run magazine said in a blunt warning of the hazards to Communist Party control from a sharp economic downturn. The unusually stark report in this week's Outlo
Published 08 Jan, 2009 12:00am
Malaysian tin rises

Malaysian tin rises

Malaysian tin climbed 6.7 percent on Wednesday, aided by a higher finish in London Metal Exchange prices, a dealer said.
Published 08 Jan, 2009 12:00am
New York sugar climbs

New York sugar climbs

Raw sugar futures rallied to finish up 4 percent Tuesday, marking the strongest settlement in two months as fund buying triggered automatic buy orders in hefty volume, brokers said. The key March raw sugar contract jumped 0.45 cent or 3.8 percent to end a
Published 08 Jan, 2009 12:00am
US rice falls

US rice falls

US rough rice futures on the Chicago Board of Trade fell to a two-week low on Tuesday on follow-through selling, traders said. Rice is technically weak. January broke through its 10-day moving average of $15.19 then slipped back. January rice closed 8 cen
Published 08 Jan, 2009 12:00am
Asian physical rubber

Asian physical rubber

Asian physical rubber prices rose again on Wednesday, backed by rising Tokyo futures prices and increasing demand from China, traders said. Chinese buyers returned to the market, buying ahead of the Chinese Lunar New Year holiday at the end of January, th
Published 08 Jan, 2009 12:00am
Bangladesh tea prices rise

Bangladesh tea prices rise

The average price of Bangladesh teas rose 0.73 percent to 123.24 taka ($1.79) per kg at the weekly auction on Tuesday, brokers said. Over 1.53 million kg were sold at 123.24 taka per kg on average, up 0.89 taka from the last sale. The withdrawal percentag
Published 08 Jan, 2009 12:00am
US copper surges

US copper surges

Copper surged to a one-month high above $1.50 a lb in New York futures trade on Tuesday as the early-2009 buying momentum gathered pace amid economic stimulus optimism and an annual portfolio rebalancing by index funds. Copper for March delivery rallied 1
Published 08 Jan, 2009 12:00am
Shanghai copper pares early gains

Shanghai copper pares early gains

London copper prices pared an early 5 percent gain on Wednesday as investor clamour for industrial raw materials ahead of a re-weighting of the Dow Jones AIG and S&P GSCI commodities indices faded. The Dow Jones index is adding weight to copper traded on
Published 08 Jan, 2009 12:00am
Olam unit sees recovery in cotton in late 2009

Olam unit sees recovery in cotton in late 2009

The global cotton business should start to recover as the recession which decimated demand for the fiber begins to gradually lift, said a senior official of the cotton unit of commodities firm Olam International. Cliff White, the Dallas-based senior vice
Published 08 Jan, 2009 12:00am
US soy futures end above $10

US soy futures end above $10

US soybean futures on the Chicago Board of Trade rallied above $10 a bushel in the nearby contract for the first time in three months as the market is technically strong, traders said. Commodity funds were actively buying soybeans and soyoil as fresh mone
Published 08 Jan, 2009 12:00am
Tokyo rubber up

Tokyo rubber up

Key Tokyo rubber futures inched up to a 1-1/2-month high on Wednesday on a weaker yen and a rise in Tokyo share prices, extending gains from the previous day. At 0050 GMT, the key Tokyo Commodity Exchange rubber contract for June delivery was up 1.4 yen o
Published 08 Jan, 2009 12:00am
Oil prices end firm in Asian markets

Oil prices end firm in Asian markets

Oil was steady under $49 on Wednesday, after weak US economic data sparked a bout of profit-taking overnight, outweighing escalating tensions in the Middle East and widening supply cuts from the Russian gas row. The market will be watching for weekly inve
Published 08 Jan, 2009 12:00am
Malaysian palm oil reverses losses

Malaysian palm oil reverses losses

Malaysian palm futures ended slightly higher on Wednesday, recovering from a drop of nearly 6 percent at one stage, thanks to last-minute speculative buying, traders said. The market came under heavy selling pressure in the afternoon session as investors
Published 08 Jan, 2009 12:00am
Abu Dhabi oil capacity to top 3.5 million barrels per day next decade

Abu Dhabi oil capacity to top 3.5 million barrels per day next decade

The Abu Dhabi government's economic plan sees oil production capacity topping the previous target of 3.5 million barrels per day (bpd) over the next decade. The document, outlining the emirate's development plans to 2030, did not say by how much capacity
Published 08 Jan, 2009 12:00am
Asia needs pension reform: OECD

Asia needs pension reform: OECD

Asian nations need to act now to reform their pension systems to deal with demands from a rapidly ageing population over the next two decades, the OECD said here on Wednesday. "Many Asian nations will need to reform their pension systems in order to deliv
Published 08 Jan, 2009 12:00am
German unemployment rise snaps three-year downtrend

German unemployment rise snaps three-year downtrend

German unemployment rose in December for the first time since February 2006, signalling an end to a three-year labour market boom as the global credit crisis hits companies in Europe's largest economy. Unemployment rose by a bigger-than-expected 18,000 in
Published 08 Jan, 2009 12:00am
MGM, Dubai scale back CityCenter

MGM, Dubai scale back CityCenter

The developer of CityCenter, the biggest new development on the Las Vegas Strip, said on Wednesday it had delayed construction on one of the hotels in the complex and cancelled plans to sell some residential units, as the city faces a slump in its casino
Published 08 Jan, 2009 12:00am
M&S axes jobs, British rate cut looms

M&S axes jobs, British rate cut looms

Retailer Marks & Spencer said on Wednesday it was cutting 1,230 jobs after a sharp fall in sales, and job losses in the financial sector added to pressure on the Bank of England to cut interest rates to a record low. M&S, Britain's top clothing retailer,
Published 08 Jan, 2009 12:00am
M&S axes jobs, British rate cut looms

M&S axes jobs, British rate cut looms

Retailer Marks & Spencer said on Wednesday it was cutting 1,230 jobs after a sharp fall in sales, and job losses in the financial sector added to pressure on the Bank of England to cut interest rates to a record low. M&S, Britain's top clothing retailer,
Published 08 Jan, 2009 12:00am
Pay lenders to stem foreclosures

Pay lenders to stem foreclosures

The US government should pay mortgage finance companies to rewrite troubled loans and steer homeowners away from default, according to recommendations from legal and finance scholars released on Wednesday. "(Mortgage) servicers are not properly compensate
Published 08 Jan, 2009 12:00am
US private job losses mount in December

US private job losses mount in December

Job losses and plans to lay off workers hammered the struggling US economy in the final month of 2008, according to private reports that foreshadow grim labour market data from the government on Friday. US private employers shed 693,000 jobs in December,
Published 08 Jan, 2009 12:00am
Strike hits some Indian refineries, natgas supply

Strike hits some Indian refineries, natgas supply

Officials at India's state-run oil firms began a strike on Wednesday, demanding higher wages, hitting output at oilfields and refineries as well as natural gas supply but retail fuel sales were normal, a top official said. State firms dominate India's ene
Published 08 Jan, 2009 12:00am
Bank of America, tycoon sell China bank stakes

Bank of America, tycoon sell China bank stakes

Bank of America Corp, coping with tough economic conditions, raised $2.83 billion by selling part of its stake in China Construction Bank Corp, and Hong Kong's richest tycoon sold a $500 million stake in rival Bank of China. Shares in China's big banks sk
Published 08 Jan, 2009 12:00am
Eurozone PPI in record fall, firms case for rate cut

Eurozone PPI in record fall, firms case for rate cut

Eurozone producer prices logged a record monthly fall in November as energy costs sank, showing inflation could be heading uncomfortably lower for the European Central Bank and firming the case for a rate cut next week. Prices at factory gates in the 15 c
Published 08 Jan, 2009 12:00am
US trade chief urges review of Doha talks

US trade chief urges review of Doha talks

The outgoing US trade chief called on Wednesday for members of the World Trade Organisation to step back and review progress on the Doha trade talks but rejected a suspension of the long-running round. Susan Schwab, who will step down as US Trade Represen
Published 08 Jan, 2009 12:00am
Many EU banks don't use eased accounts rule

Many EU banks don't use eased accounts rule

Many banks in the European Union choose not to use an eased accounting rule which the bloc's leaders had said was urgently needed to help stabilise rocky markets, a survey by regulators showed on Wednesday. The EU forced accounting rule setter, the Intern
Published 08 Jan, 2009 12:00am
ECB policymakers push for wider post-crunch role

ECB policymakers push for wider post-crunch role

European Central Bank policymakers stepped up their efforts on Wednesday to position the bank for a core role in supervising commercial banks and applying lessons from the credit crunch. ECB Executive Board member Lorenzo Bini Smaghi said more co-ordinati
Published 08 Jan, 2009 12:00am
Malaysian share up

Malaysian share up

Malaysian shares rose 0.6 percent Wednesday, as a rally that began in the opening sessions of the New Year began to dwindle, dealers said. The Kuala Lumpur Composite Index gained 5.39 points to close at 927.62. Decliners outnumbered advancing stocks 306 t
Published 08 Jan, 2009 12:00am
Hong Kong shares drop

Hong Kong shares drop

Hong Kong shares dropped 3.4 percent on Wednesday as China Construction Bank slid after Bank of America sold down its stake while telecom stocks retreated after Beijing handed out long-awaited 3G licences. Turnover swelled to HK$90 billion ($11.6 billion)
Published 08 Jan, 2009 12:00am
US stocks rise

US stocks rise

US stocks gained on Tuesday on the increased likelihood of a government stimulus package after the release of minutes from the last Federal Reserve policy meeting painted a dismal picture of the US economy. Investors bet technology stocks would benefit fr
Published 08 Jan, 2009 12:00am
Taiwan stocks extend winning streak

Taiwan stocks extend winning streak

Taiwan stocks rose 1.32 percent on Wednesday to a more than two-month closing high, with smartphone maker HTC leading gains after the company posted a 2008 net profit that was better than analysts had expected. The main TAIEX share index ended 62.58 point
Published 08 Jan, 2009 12:00am
US treasury debt prices end steady

US treasury debt prices end steady

US Treasury debt prices were close to steady on Tuesday, erasing early losses after solid demand for inflation-protected notes caught many traders off guard amid a weak economic environment. Minutes from the Federal Reserve's December meeting highlighted
Published 08 Jan, 2009 12:00am
US treasury debt prices end steady

US treasury debt prices end steady

US Treasury debt prices were close to steady on Tuesday, erasing early losses after solid demand for inflation-protected notes caught many traders off guard amid a weak economic environment. Minutes from the Federal Reserve's December meeting highlighted
Published 08 Jan, 2009 12:00am
Philippines shares gain

Philippines shares gain

Philippines share prices closed 1.7 percent higher Wednesday on expectations that the central bank may cut interest rates as inflation continues to fall, dealers said. The composite index rose 34.31 points to 2,003.89 points. The all-shares index rose 2.0
Published 08 Jan, 2009 12:00am
Seoul shares jump 2.84 percent

Seoul shares jump 2.84 percent

Seoul shares hit a three-month closing high on Wednesday led by technology issues such as Samsung Elec, up on hopes of firmer memory chip pricing, while POSCO rose on a potential output cut. The Korea Composite Stock Price Index finished up 2.84 percent a
Published 08 Jan, 2009 12:00am
China stocks down

China stocks down

Weak banks and other blue chips pulled down China's main stock index on Wednesday, although many second-tier shares gained in active trade. The Shanghai Composite Index, which had climbed 6.39 percent in the previous two days, closed down 0.68 percent at
Published 08 Jan, 2009 12:00am
Nikkei up 1.7 percent to hit two-month closing high

Nikkei up 1.7 percent to hit two-month closing high

The Nikkei average rose 1.7 percent on Wednesday to hit a two-month closing high as exporters such as Honda Motor surged on a softer yen and amid hopes for a US stimulus package to boost the economy. The benchmark logged its first seven-day winning streak
Published 08 Jan, 2009 12:00am
Singapore shares dip

Singapore shares dip

Singapore shares closed down 1.73 percent on Wednesday, giving up earlier gains. The blue chip Straits Times Index fell 33.08 points to 1,880.58 on volume of 2.11 billion shares worth 1.75 billion dollars (1.19 billion US). Losers led gainers 238 to 219 w
Published 08 Jan, 2009 12:00am
New Zealand shares fall

New Zealand shares fall

New Zealand shares closed down 0.69 percent Wednesday, as the strong start to the year ran out of steam, dealers said. The benchmark NZX-50 index was 19.14 points lower at 2,764.24 on light turnover worth 53.4 million dollars (31.9 million US). There were
Published 08 Jan, 2009 12:00am
IMM speculators increase short US dollar positions

IMM speculators increase short US dollar positions

Currency speculators increased short US dollar positions in the latest week, according to data from the Commodity Futures Trading Commission on Monday. The value of the US dollar's net short position was around $942 million in the week ending December 30,
Published 08 Jan, 2009 12:00am
Hong Kong dollar little changed

Hong Kong dollar little changed

The Hong Kong dollar moved in a narrow range on Wednesday amid corporate demand for the US currency, a dealer said. He expected the spot exchange rate to stay in a range of 7.7520 to 7.7550 against the US dollar this week. The local currency is pegged at
Published 08 Jan, 2009 12:00am
Taiwan dollar firms

Taiwan dollar firms

The Taiwan dollar rose on Wednesday on buying by foreign funds investing in local stocks amid a recent market rally, but gains were tempered by central bank moves to keep the local currency from rising too rapidly. The Taiwan dollar rose to a high of T$32
Published 08 Jan, 2009 12:00am
Yuan barely moves against dollar

Yuan barely moves against dollar

The yuan was little changed against the dollar on Wednesday after the Chinese central bank set its daily yuan mid-point only marginally lower, despite the US currency's recent strength in global markets. Traders said that just as the central bank used the
Published 08 Jan, 2009 12:00am
Dollar holds firm near one-month high

Dollar holds firm near one-month high

The dollar edged up against the euro on Wednesday to hover near a one-month high hit the previous day, continuing to draw support from gains in US stocks on hopes for an aggressive stimulus package from the Obama administration. Persistent signs of econom
Published 08 Jan, 2009 12:00am
Dollar rallies broadly

Dollar rallies broadly

The US dollar rose to a three-week high against the euro on Tuesday, helped by persistent signs of economic weakness in the euro zone that may force its central bank to slash interest rates further. The dollar also continued to benefit from a planned US s
Published 08 Jan, 2009 12:00am
South Korean won at one-week high

South Korean won at one-week high

The South Korean won hit a one-week high against the dollar on Wednesday as foreigners posted their biggest daily local stock purchases in 1-1/2 half years on hopes for economic stimulus packages at home and abroad. The won found further support as local
Published 08 Jan, 2009 12:00am
Swiss franc rises

Swiss franc rises

The Swiss franc firmed against the dollar and the euro on Wednesday as lower equity markets prompted investors to move into less risky assets such as the Swissie. "The recovery in the equity markets has stalled and this is positive for the Swiss franc," s
Published 08 Jan, 2009 12:00am
Kenyan shilling steady

Kenyan shilling steady

The Kenyan shilling was unchanged against the dollar on Tuesday as the market awaited resumption of full activities after the festive season. The commercial banks posted the unit at 79.25/35 against the greenback compared with Monday's closing rate of 79.
Published 08 Jan, 2009 12:00am
Canadian dollar gets boost

Canadian dollar gets boost

The Canadian dollar touched its highest level against the US currency in nearly two months on Tuesday, as stronger commodity prices and hopes for economic stimulus packages by western governments boosted sentiment. Bonds were largely higher across the cur
Published 08 Jan, 2009 12:00am
Indonesian rupiah rises on rate cut as Asian trade firms

Indonesian rupiah rises on rate cut as Asian trade firms

The Indonesian rupiah jumped 2 percent on Wednesday, supported by foreign buying of local debt as the central bank slashed rates further, while most Asian currencies gained on improved appetite for risky assets. Bank Indonesia cut its key interest rate by
Published 08 Jan, 2009 12:00am
Murray closing in on British tennis history

Murray closing in on British tennis history

Andy Murray, who had not fully recovered from a career-threatening wrist injury only a year ago, is now being touted as a man who could make tennis history. The 21-year-old world number four from Scotland beat both Federer and Nadal in the same tournament
Published 08 Jan, 2009 12:00am
Davydenko pulls out of Australian Open

Davydenko pulls out of Australian Open

World number five Nikolay Davydenko of Russia said on Wednesday he had withdrawn from this month's Australian Open and the ongoing Chennai Open due to a persistent heel injury. Davydenko, top seed at the 450,000-dollar event in this southern Indian city,
Published 08 Jan, 2009 12:00am
Pietersen and Moores have both resigned

Pietersen and Moores have both resigned

England captain Kevin Pietersen and coach Peter Moores have both resigned, Sky News reported on Wednesday. Pietersen, who was appointed skipper of the test and one-day teams last year after Michael Vaughan resigned, had fallen out with Moores over the run
Published 08 Jan, 2009 12:00am
New Zealand hammer West Indies to level series

New Zealand hammer West Indies to level series

Skipper Daniel Vettori took four cheap scalps as New Zealand crushed the West Indies by seven wickets to level the one-day series 1-1 on Wednesday. Vettori finished with 4-20 from 10 overs in the third of the five-match series after the hosts skittled the
Published 08 Jan, 2009 12:00am
Germany ends US hopes at Hopman Cup

Germany ends US hopes at Hopman Cup

Germany shocked the United States at the Hopman Cup on Wednesday to end the hopes of the top seeds and holders and move within one tie of the mixed teams tournament final. Teenager Sabine Lisicki and Nicolas Kiefer continued their impressive run in Group
Published 08 Jan, 2009 12:00am
PFF Youth Soccer Cup from 10 January

PFF Youth Soccer Cup from 10 January

The top teams of four centers will qualify for coming National U-13 Festival of Football when third edition of PFF U-13Youth Cup will be played simultaneously at 11 venues from 10th-19th January 2009. The main feature of the event is the first-time entry
Published 08 Jan, 2009 12:00am
Ivanovic hangs on against Italian qualifier

Ivanovic hangs on against Italian qualifier

Top seed Ana Ivanovic saved two match points against Italy's Roberta Vinci as she struggled to a 6-7 (4/7), 7-5, 6-1 win in their second round match at the Brisbane International on Wednesday. Ivanovic was expected to easily win the clash with the Italian
Published 08 Jan, 2009 12:00am
Bangladesh call up uncapped teenager for ODIs

Bangladesh call up uncapped teenager for ODIs

Bangladesh on Wednesday named 19-year-old uncapped pacer Rubel Hossain in a 14-man squad for this week's tri-nation one-day tournament and the limited overs series against Zimbabwe later in January. The tournament featuring Bangladesh, Sri Lanka and Zimba
Published 08 Jan, 2009 12:00am
Bangladesh pair fined for ICC code of conduct breaches

Bangladesh pair fined for ICC code of conduct breaches

Bangladesh captain Mohammad Ashraful and wicketkeeper Mushfiqur Rahim have been fined for breaching codes of conduct during the second test loss to Sri Lanka, the International Cricket Council said on Wednesday. Ashraful was docked 15 per cent of his matc
Published 08 Jan, 2009 12:00am
Australia avoid series whitewash

Australia avoid series whitewash

Australia dismissed South Africa for 272 with only 10 balls remaining to win an entertaining third and final Test and avoid a series whitewash at the Sydney Cricket Ground on Wednesday. Graeme Smith, returning to bat with a broken finger, fell to Mitchell
Published 08 Jan, 2009 12:00am
Wanted Afghan leader offers to send fighters to Gaza

Wanted Afghan leader offers to send fighters to Gaza

A fugitive Afghan leader wanted by the United States offered on Wednesday to send fighters to help Hamas against Israel in the Gaza battling in which more than 600 Palestinians have so far died. Gulbuddin Hekmatyar, who leads a force separate from the all
Published 08 Jan, 2009 12:00am
Turkish police detain 40 in coup probe

Turkish police detain 40 in coup probe

Turkish police detained about 40 people including three retired generals on Wednesday, media said, widening an investigation into an alleged plot to topple EU aspirant Turkey's Islamist-rooted AK Party government. Eighty-six people, including retired army
Published 08 Jan, 2009 12:00am
China issues bird flu alert

China issues bird flu alert

China issued a bird flu alert on Wednesday after a woman died of the virus, the first such death in the country in almost a year, and closed poultry markets for disinfecting in a province surrounding Beijing. The World Health Organisation said the woman's
Published 08 Jan, 2009 12:00am
Threats to Gaza sewage put 10,000 lives at risk: World Bank

Threats to Gaza sewage put 10,000 lives at risk: World Bank

Ten thousand people risk drowning in septic waste as Gaza's sewage system is threatened by Israeli bombardment and the inability to operate pumps, the World Bank said on Wednesday. Pumps transferring sewage from large cesspools to filtration basins in nor
Published 08 Jan, 2009 12:00am
Iran biggest Middle East challenge for Obama: White House

Iran biggest Middle East challenge for Obama: White House

President-elect Barack Obama should seek tougher sanctions against Iran, which will be his biggest Middle East challenge, outgoing White House national security adviser Stephen Hadley said on Wednesday. In a speech to be delivered at the Center for Strate
Published 08 Jan, 2009 12:00am
Opposition leader takes over reins of power in Ghana

Opposition leader takes over reins of power in Ghana

Thousands massed in Ghana's capital Wednesday to see president-elect John Atta-Mills take over from John Kufuor, after cliff-hanger elections in this west African country viewed as one of the continent's pioneers of democracy.
Published 08 Jan, 2009 12:00am
Italy, Israel and Iran films among BAFTA nominations

Italy, Israel and Iran films among BAFTA nominations

Israeli war animation movie "Waltz With Bashir", about the 1982 massacre of Palestinians in Beirut, is one of five movies to be nominated for a foreign language BAFTA award, Britain's equivalent of the Oscars. Director Ari Folman was a soldier in the Isra
Published 08 Jan, 2009 12:00am
Somali pirates free Turkish cargo ship, ransom paid

Somali pirates free Turkish cargo ship, ransom paid

Somali pirates released a Turkish cargo ship hijacked in October after its owners paid a ransom, Turkey's Anatolian news agency said on Wednesday. The MV Yasa Neslihan was en route to China on Wednesday after pirates freed it in the Gulf of Aden off the c
Published 08 Jan, 2009 12:00am
US-led forces kill 32 insurgents in Afghanistan

US-led forces kill 32 insurgents in Afghanistan

US-led coalition forces killed 32 insurgents in fighting that erupted in a village in eastern Afghanistan following a raid on a hideout of bomb makers, the US military said on Wednesday. The Taliban who lead the insurgency against the foreign troops and t
Published 08 Jan, 2009 12:00am
Shias in Iraq mark Ashura in show of strength

Shias in Iraq mark Ashura in show of strength

Shias in Iraq gathered in their thousands to observe an annual ritual of mourning on Wednesday, an event that has become a show of strength for a majority whose public worship was repressed by Saddam Hussein. Ashura, the most important day in the Shia cal
Published 08 Jan, 2009 12:00am
Greek PM sacks finance minister in reshuffle

Greek PM sacks finance minister in reshuffle

Greek Prime Minister Costas Karamanlis sacked his finance minister on Wednesday in a cabinet reshuffle to try to shore up his government's popularity, hit by riots, scandals and economic woes. Finance Minister George Alogoskoufis, 53, was replaced by one
Published 08 Jan, 2009 12:00am
Over 60,000 Bhutanese refugees want to resettle: UN

Over 60,000 Bhutanese refugees want to resettle: UN

More than half the Bhutanese refugees living in camps in Nepal for over 18 years want to resettle in Western countries under a scheme started last year, the United Nations refugee agency said on Wednesday. More than 103,000 people of ethnic Nepali origin
Published 08 Jan, 2009 12:00am
Pound rallies versus euro and dollar

Pound rallies versus euro and dollar

Sterling hit a three-week high against the euro on Wednesday, recovering from early losses as investors squared short positions in the currency ahead of an announcement on UK interest rates later in the week.
Published 08 Jan, 2009 12:00am
Dollar, euro, sterling interbank rates ease

Dollar, euro, sterling interbank rates ease

The interbank cost of borrowing dollar, euro and sterling funds mostly fell on Wednesday, according to the daily fixing from the British Bankers' Association, but banks remained reluctant to lend among themselves.
Published 08 Jan, 2009 12:00am
Dollar falls broadly in London

Dollar falls broadly in London

The dollar fell broadly on Wednesday, reversing sharp gains against the euro earlier in the week as concerns over the US economy and expectations for continued low US interest rates overrode earlier optimism. But the euro remained vulnerable as data showe
Published 08 Jan, 2009 12:00am
Indian rupee falls

Indian rupee falls

India's rupee fell on Wednesday as a plunge in the equity market triggered by the country's biggest corporate scandal in memory raised concerns of foreign fund withdrawals, but broad weakness in the US unit limited losses. The partially convertible rupee
Published 08 Jan, 2009 12:00am
Australian dollar stays firm

Australian dollar stays firm

The Australian dollar held firm near three-month peaks on Wednesday as appetite for riskier assets continued to improve on optimism stimulus plans in the world's largest economies would help global growth recover. Media reports said the Japanese governmen
Published 08 Jan, 2009 12:00am
European spreads tighten; new issues pour in

European spreads tighten; new issues pour in

European credit derivative indexes tightened on Wednesday on the prospect of further economic stimulus packages from the United States and other governments, while the new issue market returned with a vengeance. By 1545 GMT, the investment-grade Markit iT
Published 08 Jan, 2009 12:00am
European spreads tighten; new issues pour in

European spreads tighten; new issues pour in

European credit derivative indexes tightened on Wednesday on the prospect of further economic stimulus packages from the United States and other governments, while the new issue market returned with a vengeance. By 1545 GMT, the investment-grade Markit iT
Published 08 Jan, 2009 12:00am
Asian spreads narrow to four-month low

Asian spreads narrow to four-month low

Asian bond spreads narrowed to their lowest in nearly four months on Wednesday, with investors emboldened by the plan of US President-elect Barack Obama to spur the economy through lower taxes and more spending.
Published 08 Jan, 2009 12:00am
Asian spreads narrow to four-month low

Asian spreads narrow to four-month low

Asian bond spreads narrowed to their lowest in nearly four months on Wednesday, with investors emboldened by the plan of US President-elect Barack Obama to spur the economy through lower taxes and more spending.
Published 08 Jan, 2009 12:00am
Indian shares plunge 7.25 percent

Indian shares plunge 7.25 percent

Indian stocks plunged 7.25 percent on Wednesday as investors were hit by a billion-dollar fraud scandal in major software firm Satyam Computer, dealers said. The benchmark 30 share Sensex index fell 749.05 points to 9,586.88, ending a run of four days of
Published 08 Jan, 2009 12:00am
FTSE ends six-day rally

FTSE ends six-day rally

Britain's top share index closed 2.8 percent lower on Wednesday, ending a six-day winning streak, as sliding oil and metal prices knocked commodity stocks, with BP also hit by worries about its earnings outlook. The FTSE 100 closed down 131.41 points at 4
Published 08 Jan, 2009 12:00am
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