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Print - 2009-03-14
Philippines shares lower

Philippines shares lower

Philippines share prices closed 1.2 percent lower on Friday as foreign funds sold local issues, dealers said. The composite index lost 23.57 points to 1,856.10. In the broader market, the all shares index shed 0.1 percent or 1.63 points even though advanc
Published 14 Mar, 2009 12:00am
Indian shares gain 4.95 percent

Indian shares gain 4.95 percent

Indian shares rose 4.95 percent on Friday as Asian markets were lifted by a rally on Wall Street, dealers said. The benchmark 30-share Sensex index closed 412.86 points higher at 8,756.61, its second straight positive finish. Gainers led losers 1,583 to 8
Published 14 Mar, 2009 12:00am
Asian bond spreads narrow

Asian bond spreads narrow

Asian bond spreads narrowed on Friday, reflecting the improving outlook for US banks and signs that US consumer spending is stabilising. An assurance from the chief executive of Bank of America that the lender will make money this year and a smaller-than-
Published 14 Mar, 2009 12:00am
Fridays mid-afternoon trade: stocks little changed

Fridays mid-afternoon trade: stocks little changed

US stocks were little changed in choppy trade on Friday as a brokerages upgrade of Merck boosted healthcare stocks but profit-taking weighed on financials and big-cap technology shares. Merck shares were the top boost to the Dow industrials, up nearly 11
Published 14 Mar, 2009 12:00am
Dollar costs fall

Dollar costs fall

Dollar funding costs fell further on easing worries about the availability of funds after US banks reported that business was improving and as hopes that central banks would add more cash to the banking system boosted sentiment. In Singapore, 3-month doll
Published 14 Mar, 2009 12:00am
Asian bond spreads narrow

Asian bond spreads narrow

Asian bond spreads narrowed on Friday, reflecting the improving outlook for US banks and signs that US consumer spending is stabilising. An assurance from the chief executive of Bank of America that the lender will make money this year and a smaller-than-
Published 14 Mar, 2009 12:00am
Indian rupee rises

Indian rupee rises

The Indian rupee rose to its highest level in a week on Friday, after shares jumped nearly 5 percent and calmed worries over capital outflows from the stock market in the coming days. The partially convertible rupee ended at 51.48/50 per dollar, off an in
Published 14 Mar, 2009 12:00am
Euro hits two-month high versus yen

Euro hits two-month high versus yen

The euro jumped to a two-month high against the yen supported by solid gains on equity markets and by concerns that the Bank of Japan may follow the Swiss National Bank into unconventional policy measures. The single currency pared earlier gains against t
Published 14 Mar, 2009 12:00am
Sterling rises broadly

Sterling rises broadly

Sterling rallied against the dollar on Friday, lifted by brighter sentiment in European stock markets as investors lowered their guard towards riskier assets. The pound also advanced against the euro, but was held fairly close to recent six week lows, wit
Published 14 Mar, 2009 12:00am
Singapore sues another Wall Street Journal editor

Singapore sues another Wall Street Journal editor

The Singapore government is taking legal action against another editor at The Wall Street Journal over articles allegedly casting doubt on the judiciarys integrity, a report said Friday. A High Court Judge granted an application by the attorney-general to
Published 14 Mar, 2009 12:00am
Dozens trapped in Bangladeshs shopping mall fire

Dozens trapped in Bangladeshs shopping mall fire

A fire swept through Bangladeshs largest shopping mall on Friday killing a fireman and leaving dozens of people trapped, police and witnesses said. Atleast 30 people were injured in the fire that engulfed the top floor of the 21-storey building in the cap
Published 14 Mar, 2009 12:00am
Japan orders warships to Somalia

Japan orders warships to Somalia

Japan on Friday ordered two warships to join an anti-piracy mission off Somalia, one of the most active deployments yet for a military restrained by the countrys post-war pacifist constitution. US, European and Chinese naval vessels are already deployed i
Published 14 Mar, 2009 12:00am
Rebels deploy tanks in Madagascar capital

Rebels deploy tanks in Madagascar capital

Dissident soldiers said they deployed tanks in Madagascars capital on Friday and that they would use them to fight any mercenaries hired in a power struggle that has killed 135 people on the Indian Ocean island. The troops have broken away from the tradit
Published 14 Mar, 2009 12:00am
Graft charge hits Malaysia ruling party polls

Graft charge hits Malaysia ruling party polls

Prosecutors charged a top ruling party official with bribery Friday, sending shock waves through Malaysias political ranks ahead of party elections that many fear will be marred by corruption. Norza Zakaria, a member of the United Malays National Organisa
Published 14 Mar, 2009 12:00am
Shia cleric demands release of Iraq shoe-thrower

Shia cleric demands release of Iraq shoe-thrower

A spokesman for radical Shia cleric Moqtada al-Sadr on Friday blasted a court decision to jail the journalist who hurled his shoes at former US president George W. Bush and called for his immediate release. Television reporter Muntazer al-Zaidi, 30, was s
Published 14 Mar, 2009 12:00am
32 rebels killed in Sri Lanka

32 rebels killed in Sri Lanka

Sri Lankan soldiers killed at least 32 Tamil separatists in several battles aimed at capturing the last rebel enclave in the islands war-ravaged norrth, the military said Friday The army has ousted the Tamil Tigers from most of their strongholds in a hard
Published 14 Mar, 2009 12:00am
North Korea satellite danger zone near Japan

North Korea satellite danger zone near Japan

North Korea has specified two ``danger zones - one close to Japan - in its disclosure of a satellite launch plan in an unprecedented move seen as trying to fend off worries it will really be testing missile technology. Pyongyang gave UN agencies co-ordina
Published 14 Mar, 2009 12:00am
UN role key to credible polls in Afghanistan: Ban Ki-moon

UN role key to credible polls in Afghanistan: Ban Ki-moon

The mandate of the UN mission in Afghanistan (UNAMA) should be extended for another year to help ensure credible elections to religitimise government authority, UN chief Ban Ki-moon said in a report released here Friday. Ban recommended that the UNAMA man
Published 14 Mar, 2009 12:00am
Iran dismisses sanctions, launches gas project

Iran dismisses sanctions, launches gas project

President Mahmoud Ahmadinejad dismissed international sanctions against Iran as a "childish idea" on Friday as he officially launched a major natural gas project in the Gulf, Iranian media reported. On Thursday US President Barack Obama said he was extend
Published 14 Mar, 2009 12:00am
Obama, Chinas Yang urge steps on world economy

Obama, Chinas Yang urge steps on world economy

US President Barack Obama and Chinese Foreign Minister Yang Jiechi on Thursday called for urgent steps to revive the world economy and agreed to work to prevent further military confrontations at sea.
Published 14 Mar, 2009 12:00am
Russia place an official bid to host the World Cup

Russia place an official bid to host the World Cup

Russian Football Union (RFU) has sent an official bid for the right to host either the 2018 or the 2022 World Cup to the worlds ruling football body FIFA, local media reported Friday. "We are still in the race. Today the RFU has sent an official bid to FI
Published 14 Mar, 2009 12:00am
Oil-soaked Australian beaches named disaster zones

Oil-soaked Australian beaches named disaster zones

Authorities declared a disaster zone Friday along a stretch of some of Australias most pristine and popular beaches after tons of fuel oil that leaked from a stricken cargo ship blackened the creamy white sand for miles. The government of north-eastern Qu
Published 14 Mar, 2009 12:00am
Torres the key as Liverpool seek to rein in United

Torres the key as Liverpool seek to rein in United

Fernando Torres has handed Liverpool a massive boost ahead of Saturdays must-win clash with Manchester United by predicting that he will be 100 percent fit in time for the lunchtime kick-off. The difference a fit Torres makes to Rafael Benitezs side was p
Published 14 Mar, 2009 12:00am
Pakistan to resist Philippines Davis Cup request

Pakistan to resist Philippines Davis Cup request

Pakistan have vowed to resist any attempt to shift their Davis Cup tennis home tie against the Philippines to a neutral venue over security concerns, a top official said Friday. The Philippine Lawn Tennis Association reportedly made the request in a lette
Published 14 Mar, 2009 12:00am
IPL in trouble as government rejects revised schedule

IPL in trouble as government rejects revised schedule

The Indian Premier League suffered a fresh setback Friday when the government refused to accept the revised schedule submitted by the organisers on security grounds, throwing the event into doubt. The IPLs second season is scheduled to be held April 10 to
Published 14 Mar, 2009 12:00am
Hewitt advances, Sharapova sent packing at Indian Wells

Hewitt advances, Sharapova sent packing at Indian Wells

Two-time champion Lleyton Hewitt reached the second round of the Indian Wells Masters series Thursday, where hell meet the man who bounced him from the first round of the Australian Open. Hewitt, unseeded here as he battles his way back from hip surgery l
Published 14 Mar, 2009 12:00am
New Zealand seek confidence boost against India

New Zealand seek confidence boost against India

New Zealand will seek a confidence-boosting victory in their fourth one-day international against India Saturday, after losing the series 3-0 this week. New Zealand captain Daniel Vettori said Friday that his team, which starts a three-Test series against
Published 14 Mar, 2009 12:00am
Celtic and Rangers clash in League Cup final

Celtic and Rangers clash in League Cup final

Celtic and Rangers clash in the Scottish League Cup final at Hampden on Sunday with both sides desperate to get their hands on the first trophy of the season. It is the first time the Glasgow giants have clashed in the competitions showpiece since 2003 wh
Published 14 Mar, 2009 12:00am
Canadian dollar fuelled by stocks rally

Canadian dollar fuelled by stocks rally

The Canadian dollar strengthened against the US currency on Thursday, fueled by higher oil prices and gains in equity markets that improved market confidence. The currency finished not too far off the sessions high at C$1.2791 to the US dollar, or 78.18 U
Published 14 Mar, 2009 12:00am
Swiss franc down

Swiss franc down

The Swiss franc was slightly weaker against the euro on Friday, hovering close to a two-month low hit after the Swiss National Bank said it would intervene on the foreign exchange markets to fight deflation. The SNB cut interest rates and said on Thursday
Published 14 Mar, 2009 12:00am
Australian dollar jumps to one-month high

Australian dollar jumps to one-month high

The Australian dollar jumped to a one-month high against the Swiss franc on Friday after Switzerlands central bank stunned financial markets by selling its Swiss currency to fight deflation. The Aussie extended gains made offshore to climb to a high of 0.
Published 14 Mar, 2009 12:00am
Asian currencies under hope and intervention fear

Asian currencies under hope and intervention fear

The South Korean won jumped on Friday on investor hopes of a stabilising global economy, but the Singapore dollar and Philippine peso were hurt by fears of possible dollar-buying after the surprise intervention by the Swiss central bank.
Published 14 Mar, 2009 12:00am
Dollar, euro soar versus Swiss franc; SNB intervenes

Dollar, euro soar versus Swiss franc; SNB intervenes

The US dollar and euro jumped against the Swiss franc on Thursday after the Swiss National Bank said it was intervening in the foreign exchange market as it faced the growing risk of deflation. The Swiss central bank said it was implementing its decision
Published 14 Mar, 2009 12:00am
Euro at two-month high

Euro at two-month high

The euro rose to a two-month high against the Swiss franc and the dollar also firmed against the franc on Friday, after the Swiss National Bank said it was intervening in the face of a growing risk of deflation. The Swiss central bank cut rates on Thursda
Published 14 Mar, 2009 12:00am
Yuan firm as Chinese Prime Minister repeats policy

Yuan firm as Chinese Prime Minister repeats policy

The yuan was firm against the dollar in the spot and offshore forwards markets on Friday as Premier Wen Jiabao repeated Chinas pledge to keep it stable. "Our goal is to maintain the basic stability of the yuan at a reasonable and balanced level," Wen told
Published 14 Mar, 2009 12:00am
Hong Kong dollar firms slightly

Hong Kong dollar firms slightly

The Hong Kong dollar nudged higher against the US dollar on Friday helped by a rally in the citys stock market. The local currency rose about 0.01 percent from late Thursday trade in Asia, having earlier hit a session high of 7.7533 against the US dollar.
Published 14 Mar, 2009 12:00am
Jakarta shares up

Jakarta shares up

Indonesian shares ended 1.3 percent higher on Friday, led by buying in bank, telecommunication and automotive blue chips, dealers said. The Jakarta Composite Index gained 17.02 points to 1,327.43 in moderate trade, helped by gains across Asian markets. "L
Published 14 Mar, 2009 12:00am
Malaysian shares end higher

Malaysian shares end higher

Malaysian shares closed up 0.6 percent on Friday amid selective buying and improved sentiment on Wall Streets gains, dealers said. The Kuala Lumpur Composite Index gained 5.06 points to 843.45. Volume was 301.11 million shares worth 487.10 million ringgit
Published 14 Mar, 2009 12:00am
Nikkei soars 5.2 percent

Nikkei soars 5.2 percent

Japans Nikkei average rose 5.2 percent on Friday, its biggest one-day gain in over 3 months as Canon Inc and other exporters surged after data showed US retail sales stabilising and Bank of America reported a return to profit. Banks such as Mitsubishi UFJ
Published 14 Mar, 2009 12:00am
Seoul shares edge lower

Seoul shares edge lower

Seoul shares ended slightly lower after volatile trade on Friday, with technology issues including LG Elec and Hynix Semiconductor rallying, but losses by banks and crude refiners weighing on the index. The Korea Composite Stock Price Index finished down
Published 14 Mar, 2009 12:00am
Thai shares surge 2.35 percent

Thai shares surge 2.35 percent

Thai share prices closed 2.35 percent higher on Friday in line with the regions markets, which rallied following positive retail sales data in the US and gains on Wall Street, dealers said. The Stock Exchange of Thailand (SET) composite index rose 9.75 po
Published 14 Mar, 2009 12:00am
China stocks fall

China stocks fall

Chinas main stock index edged down on Friday, again underperforming regional markets, as investors fretted about mixed economic data and the likelihood of weak corporate earnings for the first quarter. The Shanghai Composite Index hit a high of 2,166.022
Published 14 Mar, 2009 12:00am
Singapore shares climb

Singapore shares climb

Singapore shares soared 5.62 percent on Friday following a rally in the United States and on other regional markets, dealers said. The blue chip Straits Times Index closed 83.99 points higher at 1,577.52 on volume of 1.4 billion shares worth 1.06 billion
Published 14 Mar, 2009 12:00am
US Treasury prices rise

US Treasury prices rise

US Treasury debt prices climbed on Thursday, as robust demand for $11 billion of 30-year bonds soothed initial concerns about investors ability to absorb this weeks massive supply. The post-auction rally encountered resistance by another positive day on W
Published 14 Mar, 2009 12:00am
Wall Street jumps

Wall Street jumps

US stocks rose for a third day on Thursday on relief that a ratings cut by S&P in General Electric was just one notch and that no further cuts loomed, while retail sales data showed some stabilisation in consumer spending. Wall Street closed out its best
Published 14 Mar, 2009 12:00am
US Treasury prices rise

US Treasury prices rise

US Treasury debt prices climbed on Thursday, as robust demand for $11 billion of 30-year bonds soothed initial concerns about investors ability to absorb this weeks massive supply. The post-auction rally encountered resistance by another positive day on W
Published 14 Mar, 2009 12:00am
Hong Kong shares hit best weekly gain in six weeks

Hong Kong shares hit best weekly gain in six weeks

Hong Kong shares jumped 4.4 percent in its fourth day of gains on Friday, leading the main index to its best weekly rise in a month and a half, with China stocks outperforming as investors continued to cheer hints of economic recovery in the mainland.
Published 14 Mar, 2009 12:00am
Taiwan stocks finish firmer

Taiwan stocks finish firmer

Taiwan stocks rose 3 percent on Friday to a four-month closing high on a strong rise in global markets, with AU jumping after a report the LCD makers capacity utilisation rate could increase by the second quarter. The tourism sub-index jumped 6.3 percent
Published 14 Mar, 2009 12:00am
Gulf states need to revisit monetary union date: Bahrain

Gulf states need to revisit monetary union date: Bahrain

Gulf Arab oil producers have to revisit their 2010 target for monetary union, Bahrains central bank governor said on Thursday, as states across the region focus on tackling the fallout from the global financial crisis. Bahrain is one of five states, along
Published 14 Mar, 2009 12:00am
Dhaka asked Kuala Lumpur to revise decision on Bangladeshi workers

Dhaka asked Kuala Lumpur to revise decision on Bangladeshi workers

Bangladesh Thursday asked Malaysian authorities to revise a decision that cancelled visas of some 55,000 Bangladeshi workers in the wake of global recession."We expect something positive after the upcoming Malaysian national elections as we have started n
Published 14 Mar, 2009 12:00am
Solbes sees possible Spain bank recapitalisation

Solbes sees possible Spain bank recapitalisation

Spains Economy Minister Pedro Solbes said on Friday there was a chance some Spanish banks might need to be recapitalised. Spains financial system has so far survived the crisis without rescues or nationalisations but is facing rapidly rising defaults as u
Published 14 Mar, 2009 12:00am
Malaysia to have new budget airline terminal by 2011

Malaysia to have new budget airline terminal by 2011

Malaysias capital will have a new 542-million-dollar budget airline terminal by 2011, replacing the existing facility which is bursting at the seams, authorities said Friday. The current low-cost carrier terminal which opened in 2006 with annual capacity
Published 14 Mar, 2009 12:00am
Samsung Electronics and LG Display expect difficult year

Samsung Electronics and LG Display expect difficult year

Samsung Electronics and LG Display, two of South Koreas top technology companies, are bracing for a very difficult year and remain cautious on any near-term recovery in the battered sector. Consumer demand for electronic gadgets has slumped as the financi
Published 14 Mar, 2009 12:00am
Thai Prime Minister says economy to resume growth in fourth quarter 2009

Thai Prime Minister says economy to resume growth in fourth quarter 2009

Thailands prime minister said on Friday the economy would resume growth in the fourth quarter of 2009 and the country was on track to obtain $2 billion in loans from the World Bank and other lenders. Thailand is suffering from shrinking demand for its exp
Published 14 Mar, 2009 12:00am
EU urges Latam to accept banana deal, drop lawsuits

EU urges Latam to accept banana deal, drop lawsuits

Latin America would have to sign a definitive deal with Europe to cut banana import duties and pledge to end lawsuits if the worlds longest-running trade row is to be wrapped up, Europes farm chief said on Friday. EU regulators have been negotiating with
Published 14 Mar, 2009 12:00am
Brazil retail sales rise

Brazil retail sales rise

Retail sales in Brazil bounced back unexpectedly in January after three months of declines, as auto and motorcycle sales surged after the government slashed taxes on industrial goods, official data showed on Friday. Sales volumes rose 1.4 percent from Dec
Published 14 Mar, 2009 12:00am
Poland wants to join ERM in first half of 2009

Poland wants to join ERM in first half of 2009

Poland wants to join the ERM-2 exchange rate mechanism in the first half of this year in order to meet its target of joining the euro zone on January 1, 2012, Finance Minister Jacek Rostowski was quoted as saying on Friday. In an interview with French dai
Published 14 Mar, 2009 12:00am
Moodys warns on South Africa rating, manufacturing slides

Moodys warns on South Africa rating, manufacturing slides

Moodys warned on Thursday it may downgrade South Africas A2 local currency rating, partly on worries about the economy, as manufacturing and mining data pushed the country further towards recession. The ratings agency said the review reflected fiscal pres
Published 14 Mar, 2009 12:00am
Independents OReilly quits as debt deadline looms

Independents OReilly quits as debt deadline looms

Anthony OReilly will retire from the helm of Independent News & Media and hand the reins to his son Gavin, ending the Irish tycoons career with the fate of their flagship London Independent paper in doubt. Gavin OReilly said his father was leaving of his
Published 14 Mar, 2009 12:00am
Independents OReilly quits as debt deadline looms

Independents OReilly quits as debt deadline looms

Anthony OReilly will retire from the helm of Independent News & Media and hand the reins to his son Gavin, ending the Irish tycoons career with the fate of their flagship London Independent paper in doubt. Gavin OReilly said his father was leaving of his
Published 14 Mar, 2009 12:00am
European tax havens make concessions on bank secrecy

European tax havens make concessions on bank secrecy

Switzerland, Austria and Luxembourg offered to relax strict bank secrecy in some tax evasion cases on Friday in a response to a global crackdown on tax havens that is rattling the offshore banking industry. The three countries made the concessions ahead o
Published 14 Mar, 2009 12:00am
Obama defends economic plans to business leaders

Obama defends economic plans to business leaders

President Barack Obama launched a sweeping defence of his economic and budget proposals on Thursday, saying government had to step in at a time of crisis to push the economy toward growth. Obama, who has spent his first weeks in office trying to stabilise
Published 14 Mar, 2009 12:00am
Hong Kong investors sue Lehman over minibonds

Hong Kong investors sue Lehman over minibonds

A group of Hong Kong investors sued Lehman Brothers and HSBC in the US in their fight to recoup as much as $1.6 billion in losses after the collapse of the Wall Street firm left their bond holdings possibly worthless. Lawyers in the US said the plaintiffs
Published 14 Mar, 2009 12:00am
Hong Kong investors sue Lehman over minibonds

Hong Kong investors sue Lehman over minibonds

A group of Hong Kong investors sued Lehman Brothers and HSBC in the US in their fight to recoup as much as $1.6 billion in losses after the collapse of the Wall Street firm left their bond holdings possibly worthless. Lawyers in the US said the plaintiffs
Published 14 Mar, 2009 12:00am
Opec sees oil demand falling, pressure on prices

Opec sees oil demand falling, pressure on prices

World oil demand is contracting faster than expected, increasing pressure on prices, Opec said on Friday ahead of a key meeting of the group this weekend. The Organisation of the Petroleum Exporting Countries said in its Monthly Oil Market Report that dem
Published 14 Mar, 2009 12:00am
G20 rift deepens ahead of crisis response talks

G20 rift deepens ahead of crisis response talks

Japan joined the US push for more government spending to fight the economic crisis on Friday but G20 unity looked seriously compromised after Paris accused Washington of disregarding the urgent need for tough market regulation. Some progress is being made
Published 14 Mar, 2009 12:00am
US trade gap narrows, consumers slightly less grim

US trade gap narrows, consumers slightly less grim

US consumers mood grew less grim in March, according to a survey released on Friday, while the latest figures showed the US trade deficit narrowed in January to its smallest in more than six years. Despite the improvements, the data hardly reflected robus
Published 14 Mar, 2009 12:00am
Eurozone retail sales dip, labour costs slow

Eurozone retail sales dip, labour costs slow

Eurozone retail sales fell more than expected year-on-year in January and labour costs eased at the end of 2008, data showed on Friday, pointing to a deep recession that may trigger more interest rate cuts. Retail sales in the 16-nation euro area inched u
Published 14 Mar, 2009 12:00am
Gold falls after rally

Gold falls after rally

Gold prices edged down on Friday after rising 2 percent the previous day, but they were supported by news that holdings of a key gold-backed exchange-traded fund rose to another record high. Gold rallied on Thursday when the Swiss National Bank sold Swiss
Published 14 Mar, 2009 12:00am
US gold ends higher

US gold ends higher

US gold futures ended 1.5 percent higher on Thursday as a closely watched credit downgrade of US conglomerate General Electric heightened economic fears, triggering investment inflows to the gold market. Gold for April delivery settled up $13.30, or 1.5 p
Published 14 Mar, 2009 12:00am
Oil prices down in Asian trade

Oil prices down in Asian trade

Oil prices fell back in Asian trade Friday ahead of Opecs weekend meeting to discuss output levels, analysts said. New Yorks main futures contract, light sweet crude for April, dipped 22 cents to 46.81 dollars a barrel. Brent North Sea crude for delivery
Published 14 Mar, 2009 12:00am
Malaysian tin slides

Malaysian tin slides

Malaysian tin tumbled 3.7 percent to a 2-1/2 month low on Friday, due to a sharp drop in London Metal Exchange and swelling supplies, one dealer said.
Published 14 Mar, 2009 12:00am
Malaysian palm oil up

Malaysian palm oil up

Malaysian crude palm oil futures rose on Friday, recovering most of their 3 percent fall from a day earlier, helped by tightness in the physical market, traders said. "In the physical market, we have seen less (palm oil) vehicle movements lately, so the b
Published 14 Mar, 2009 12:00am
US soybean futures soar

US soybean futures soar

US soybean futures on the Chicago Board of Trade rallied on Thursday on a short-covering technical rebound, spurred by the strength in crude oil and the equities which closed higher for a third day, traders said. Commodities have been tracking the stock m
Published 14 Mar, 2009 12:00am
US copper down

US copper down

US copper futures ended a shade off Thursday after hitting their lowest levels in more than a week as a rise in inventories and slower Chinese industrial activity placed a cap on the market. Copper for May delivery eased 0.10 cent to settle at $1.6245 a l
Published 14 Mar, 2009 12:00am
Shanghai copper prices up

Shanghai copper prices up

Copper prices rose 0.6 percent in London and Shanghai, as creeping optimism about Chinas domestic demand growth was offset by the likelihood of slowing imports. Investors were comforted by comments from Chinese Premier Wen Jiabao, who said 595 billion yua
Published 14 Mar, 2009 12:00am
Tokyo rubber rises

Tokyo rubber rises

Tokyo rubber futures rose 4 percent on Friday as a rally in equities and oil markets eased concerns about demand. Futures prices have been caught in a range between 125 and 145 yen recently as global automakers slash production, resulting in slackening ty
Published 14 Mar, 2009 12:00am
New York sugar finishes higher

New York sugar finishes higher

Raw sugar futures settled higher on Thursday as investment fund buying inspired in part by the chance India will buy a large amount of sugar, with brokers saying the surge can easily extend into next week. The key May raw sugar contract increased 0.28 cen
Published 14 Mar, 2009 12:00am
Thailand cuts rice prices

Thailand cuts rice prices

Thailand will buy rice from farmers at 11,800 baht ($328) per tonne under a new intervention scheme starting on March 16 and will keep the grain in stocks, the commerce minister said on Friday. However, the new price is only slightly lower than the 12,000
Published 14 Mar, 2009 12:00am
Canadian canola futures higher

Canadian canola futures higher

ICE Canadian canola futures closed higher Thursday but a lack of speculator trading meant a missed chance for bigger gains, traders said. May canola rose $3.80 to $406.30 on a volume of 2,706 while July was up $4.20 to $406.20 on 1,453 contracts. November
Published 14 Mar, 2009 12:00am
No change on grain market

No change on grain market

No variations were seen on the grain wholesale market on Friday as buyers were busy in preparations for Juma prayers.
Published 14 Mar, 2009 12:00am
Dyes items mixed on Jodia Bazaar

Dyes items mixed on Jodia Bazaar

The trading in Pakistan dyes items showed mixed trend on Jodia Bazaar here on Friday. The following changes were noted.
Published 14 Mar, 2009 12:00am
US rice futures sink

US rice futures sink

US rice futures on the Chicago Board of Trade dived the 50 cent trading limit on Thursday on follow-through technical selling, spurred by USDAs big stocks estimate issued the day before, traders said. March rice ended 36 cents lower at $11.88 per hundredw
Published 14 Mar, 2009 12:00am
Chinas wheat output to dip

Chinas wheat output to dip

Chinas wheat harvest will slip just over 1 percent from last years bumper crop after light damage from a drought, while a 10 percent rise in rapeseed output may be partly offset by lower soyabean planting, the governments main grains agency said in its fi
Published 14 Mar, 2009 12:00am
Solo deal struck on drab cotton market

Solo deal struck on drab cotton market

A solo deal was reported on the cotton market on Friday as main participants were conspicuous by their absence, dealers said. The official spot rate was unmoved at Rs 3200, they said. The phutti prices in both the Punjab and Sindh were at Rs 1550-1650, th
Published 14 Mar, 2009 12:00am
US corn rises

US corn rises

US corn futures on the Chicago Board of Trade rose 5.8 percent on Thursday amid technical buying spurred by stronger equity and crude oil markets, traders said. Corn gained on soyabeans amid hopes more corn would be turned into ethanol and prospects for U
Published 14 Mar, 2009 12:00am
Ukraine forecasts lower wheat, higher maize crop

Ukraine forecasts lower wheat, higher maize crop

Ukraines Agriculture Ministry forecast on Friday the 2009 wheat crop would fall to at least 20 million tonnes from 25.9 million last year, but said the maize crop would rise to 13-14 million tonnes from 11.4 million. "Of the 45 million tonnes (of grain) t
Published 14 Mar, 2009 12:00am
Indian sugar futures fall

Indian sugar futures fall

Indian sugar futures extended their losses on Friday after the government imposed limits on the amount of sugar that can be stocked by traders, a move which could boost supplies in the physical market. The government on Thursday fixed a limit of 200 tonne
Published 14 Mar, 2009 12:00am
Efforts to continue for defusing political crisis through dialogue

Efforts to continue for defusing political crisis through dialogue

A meeting was held on Friday night in the Presidency to take stock of the political situation in the country. The meeting jointly presided over by President Asif Ali Zardari and Prime Minister Syed Yusuf Raza Gilani was attended by Defence Minister Chaudh
Published 14 Mar, 2009 12:00am
FOB Gulf soya and corn export premiums steady

FOB Gulf soya and corn export premiums steady

US soyabean and corn export premiums at the Gulf of Mexico held steady on Thursday but corn basis values were down sharply in the barge market that supplies export elevators, traders said. In the barge market, corn for March shipment traded at 38 cents pe
Published 14 Mar, 2009 12:00am
Efforts to continue for defusing political crisis through dialogue

Efforts to continue for defusing political crisis through dialogue

A meeting was held on Friday night in the Presidency to take stock of the political situation in the country. The meeting jointly presided over by President Asif Ali Zardari and Prime Minister Syed Yusuf Raza Gilani was attended by Defence Minister Chaudh
Published 14 Mar, 2009 12:00am
US Midwest corn and soyabean bids steady to weak

US Midwest corn and soyabean bids steady to weak

Spot corn and soyabean basis bids were steady to weak around the US Midwest on Thursday amid moderate to active corn sales and a rally in the futures market, grain merchants said. Dealers noted active corn sales in western Iowa and moderate in parts of th
Published 14 Mar, 2009 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 89,399 tonnes of cargo including 43,576 tonnes of import and 45,823 tonnes of export, 5,734 loaded and empty containers (TEUs) during last 24 hours ending at 0700 hours on Friday. The freights comprised of 71,892 tonnes of dry car
Published 14 Mar, 2009 12:00am
Sherry resigns?

Sherry resigns?

Information Minister Sherry Rehman resigned from her post late Saturday night. Quoting sources, Aaj TV reported that the information minister tendered her resignation due to differences over media policy. The channel said that the Presidents spokes
Published 14 Mar, 2009 12:00am
Ivory Coast exports 17 percent low quality cocoa

Ivory Coast exports 17 percent low quality cocoa

Ivory Coast has launched a programme aimed at improving cocoa quality, which has fallen dramatically, the countrys cocoa chief said on Friday. "Ten years ago poor quality cocoa represented 5 percent (of cocoa exports) but now it is more than 17 percent,"
Published 14 Mar, 2009 12:00am
Sherry resigns?

Sherry resigns?

Information Minister Sherry Rehman resigned from her post late Saturday night. Quoting sources, Aaj TV reported that the information minister tendered her resignation due to differences over media policy. The channel said that the Presidents spokes
Published 14 Mar, 2009 12:00am
KARACHI CHRONICLE: Salaam Houston!

KARACHI CHRONICLE: Salaam Houston!

Karachi and Houston were declared sister cities at a ceremony held, at City Council Hall of Houston. The day of the ceremony was well chosen, March 8 happens to be International Womens Day. We Karachi women are delighted but the men are not very pleased,
Published 14 Mar, 2009 12:00am
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