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Print - 2009-03-18
India favourites to avenge New Zealand record

India favourites to avenge New Zealand record

India regroup after outplaying New Zealand in the one-day series with an even more ominous line-up for the first cricket Test starting here Wednesday. With Sachin Tendulkar appearing to be over a stomach strain that restricted his limited-over appearances
Published 18 Mar, 2009 12:00am
AFC Champions League: Gamba on fire as China, Australia celebrate

AFC Champions League: Gamba on fire as China, Australia celebrate

Reigning champions Gamba Osaka maintained their red-hot form to stun FC Seoul 4-2 on Tuesday as Chinas Shandong Luneng got their AFC Champions League campaign back on track in emphatic fashion. Elsewhere, Newcastle Jets handed Australia its first win of t
Published 18 Mar, 2009 12:00am
Antigua ground banned from hosting internationals

Antigua ground banned from hosting internationals

The Sir Vivian Richards Stadium in Antigua will not be allowed to host international cricket for at least 12 months following the pitch fiasco last month, the International Cricket Council (ICC) said on Tuesday. The second test between the West Indies and
Published 18 Mar, 2009 12:00am
Asian currencies boosted by risk appetite

Asian currencies boosted by risk appetite

The South Korean won rebounded nearly 3 percent on Tuesday, leading Asian currencies higher as regional shares gained on tentative signs of stability in the global financial system. The won surged as high as 1,399.9 per dollar, its highest in just over a
Published 18 Mar, 2009 12:00am
Swiss franc falls

Swiss franc falls

The Swiss franc fell against the dollar and euro on Tuesday after the head of the Swiss National Bank was quoted as saying the SNB was committed to preventing a strengthening of the currency. The franc dropped 0.3 percent against the euro compared to the
Published 18 Mar, 2009 12:00am
Australian dollar off 2-1/2-month high

Australian dollar off 2-1/2-month high

The Australian dollar retreated from a 2-1/2-month high against the yen on Tuesday, but remained buoyant as rising stock markets tempted investors to riskier assets. Some uncertainty remained however, after the Reserve Bank of Australia offered few clues
Published 18 Mar, 2009 12:00am
Euro hits five-week highs

Euro hits five-week highs

The euro hit a five-week high against the US dollar on Monday as gains in European stocks signalled investors willingness to take on more risk. European share indexes closed higher for a fifth straight session, but on Wall Street, an early rally fizzled i
Published 18 Mar, 2009 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Tuesday. 68.98/69.04 (previous 69.02/69.05) Call Money Rates: 7.50-12.00 percent (previous 7.50-12.00 percent.
Published 18 Mar, 2009 12:00am
Euro near 11-week high

Euro near 11-week high

The euro climbed back towards an 11-week high against the yen and a five-week high against the dollar on Tuesday as a rise in regional share prices pointed to some recovery in appetite for risk. The yen and the dollar slipped against higher-yielding curre
Published 18 Mar, 2009 12:00am
Hong Kong dollar little changed

Hong Kong dollar little changed

The Hong Kong dollar strengthened slightly against the US dollar on Tuesday after rangebound trade, while interbank rates were steady to a touch firmer from the previous session. One dealer said the spot market spent the day within a 10-tick range and he
Published 18 Mar, 2009 12:00am
Yuan up versus dollar in spot

Yuan up versus dollar in spot

The yuan firmed against the dollar in the spot and offshore forwards markets on Tuesday, despite news of a big fall in Chinas foreign exchange reserves, after the Chinese central bank set a strong yuan mid-point. Traders took the mid-point as a signal of
Published 18 Mar, 2009 12:00am
Nikkei gains 3.2 percent

Nikkei gains 3.2 percent

The Nikkei average climbed 3.2 percent on Tuesday as banks extended gains on improved sentiment about the global financial system and mounting hopes for fresh steps as the US and Japanese central banks head into policy meetings. With a series of short-cov
Published 18 Mar, 2009 12:00am
Jakarta shares slump

Jakarta shares slump

Indonesian shares ended one percent lower on Tuesday, weighed down by selling in commodity-related stocks on lower oil prices, dealers said. The Jakarta Composite Index lost 12.76 points to 1,312.09 on thin trade. "There are fears that if oil continues to
Published 18 Mar, 2009 12:00am
Singapore shares down 1.72 percent

Singapore shares down 1.72 percent

Singapore shares closed 1.72 percent lower on Tuesday after the government said exports fell by 24 percent in February, further confirming the bleak economic outlook. The blue chip Straits Times Index fell 27.29 points to 1,559.03 on volume of 996 million
Published 18 Mar, 2009 12:00am
Seoul shares close at one-month high

Seoul shares close at one-month high

Seoul shares rose 3.4 percent on Tuesday, posting their highest close in a month, as a continued rebound in the won boosted financials while builders rallied on hopes of a real estate tax regulation change. The Korea Composite Stock Price Index finished u
Published 18 Mar, 2009 12:00am
US Treasury prices fall

US Treasury prices fall

US Treasury debt prices fell on Monday ahead of a two-day monetary policy meeting and as stock market gains during most of the trading session dampened the safe-haven bid for lower-risk assets like government debt. Investors are looking ahead to the resul
Published 18 Mar, 2009 12:00am
US Treasury prices fall

US Treasury prices fall

US Treasury debt prices fell on Monday ahead of a two-day monetary policy meeting and as stock market gains during most of the trading session dampened the safe-haven bid for lower-risk assets like government debt. Investors are looking ahead to the resul
Published 18 Mar, 2009 12:00am
China stocks rise three percent

China stocks rise three percent

Chinas share market rose sharply in expanding turnover on Tuesday, led by resource stocks after global copper prices surged and oil rebounded. A rumour that bank reserve ratios might be cut aided property stocks. The Shanghai Composite Index, which gained
Published 18 Mar, 2009 12:00am
Thai shares tumble

Thai shares tumble

Thai share prices closed 0.54 percent lower on Tuesday after negative news from European markets erased morning gains, dealers said. The Stock Exchange of Thailand (SET) composite index lost 2.29 points to close at 422.32 points, while the blue chip SET-5
Published 18 Mar, 2009 12:00am
US stocks decline

US stocks decline

US stocks fell on Monday after American Express Co said the number of people struggling to make credit card payments grew, erasing earlier optimism that banks could return to profit in the downturn. It was Wall Streets first decline after a four-day winni
Published 18 Mar, 2009 12:00am
Taiwan stocks hit five-month closing high

Taiwan stocks hit five-month closing high

Taiwan stocks rose 1.41 percent on Tuesday to a five-month closing high, as growing optimism about the global financial system boosted banking shares such as Cathay Financial and Chinatrust Financial. The main TAIEX share index ended up 70.07 points at 5,
Published 18 Mar, 2009 12:00am
Hong Kong shares end five-day rally

Hong Kong shares end five-day rally

Hong Kong shares snapped a five-session winning streak to drop 0.8 percent on Tuesday as some Chinese counters beat a retreat, but HSBC stemmed losses, rising ahead of a shareholder vote on its rights issue. Also dodging the downdraft, Air China vaulted 7
Published 18 Mar, 2009 12:00am
Bank Muscat plans to sell stake in Indian bank

Bank Muscat plans to sell stake in Indian bank

Omans largest lender Bank Muscat will sell its entire stake in Indias HDFC Bank as it seeks cash to weather a possible rise in provisions this year as the financial crisis bites. Banks across the Gulf, the worlds biggest oil-exporting region, have booked
Published 18 Mar, 2009 12:00am
Philippines jobless rate rises to 7.7 percent

Philippines jobless rate rises to 7.7 percent

The Philippines jobless rate climbed to 7.7 percent in January, the highest since April, data showed on Tuesday, and analysts said it would rise further as the country feels the impact of the financial crisis. About 275,000 people lost their jobs since Oc
Published 18 Mar, 2009 12:00am
US companies face costly refinancing hurdle: Moodys

US companies face costly refinancing hurdle: Moodys

US non-financial companies are facing a costly refinancing hurdle, with about $300 billion of investment-grade bonds maturing by the end of 2011, Moodys Investors Service said on Monday. Tight credit markets could make it more difficult to refund that deb
Published 18 Mar, 2009 12:00am
US companies face costly refinancing hurdle: Moodys

US companies face costly refinancing hurdle: Moodys

US non-financial companies are facing a costly refinancing hurdle, with about $300 billion of investment-grade bonds maturing by the end of 2011, Moodys Investors Service said on Monday. Tight credit markets could make it more difficult to refund that deb
Published 18 Mar, 2009 12:00am
South Korea to propose $12 billion stimulus package

South Korea to propose $12 billion stimulus package

South Korea will soon propose $12 billion of spending plans to boost domestic demand in Asias fourth-largest economy now headed for its first recession in 11 years, a top ruling party official said on Tuesday.
Published 18 Mar, 2009 12:00am
German wise man says economy could shrink 3-4 percent

German wise man says economy could shrink 3-4 percent

Germanys economy could shrink by three to four percent this year, the head of the German governments panel of economic advisers told Reuters on Tuesday. Wolfgang Franz, head of the group known as the five wise men - although it includes one woman - said f
Published 18 Mar, 2009 12:00am
Angry French set for nation-wide strikes

Angry French set for nation-wide strikes

France braces for nation-wide strikes on Thursday that unions say will touch off huge protests for the second time in two months against President Nicolas Sarkozys handling of the economic crisis. Nearly three-quarters of the French believe the strike cal
Published 18 Mar, 2009 12:00am
Indonesia seeks Malaysian help on unemployed migrants

Indonesia seeks Malaysian help on unemployed migrants

Indonesian President Susilo Bambang Yudhoyono called on Malaysia Tuesday to help find a solution to the plight of thousands of migrant workers expected to be made jobless in the global economic crisis. "There are many Indonesian workers there. If there is
Published 18 Mar, 2009 12:00am
Malaysia sees up to 50,000 job losses this year

Malaysia sees up to 50,000 job losses this year

Malaysia has shed 26,000 jobs since the global financial crisis blew up in September and nearly twice as many workers could lose their jobs this year as struggling manufacturers cut output, a senior government official said. "It (unemployment) is going to
Published 18 Mar, 2009 12:00am
Medvedev tells banks to stop harassing companies

Medvedev tells banks to stop harassing companies

President Dmitry Medvedev warned Russian banks against destroying large, crisis-hit companies, in remarks that could signal support for indebted billionaire Oleg Deripaska. "A situation where a certain organisation can halt the work of a big holding, even
Published 18 Mar, 2009 12:00am
Dutch output may take long-term hit from crisis

Dutch output may take long-term hit from crisis

Output of tech economy may emerge from the current crisis at a structurally lower level due to a sharp decline in world trade, putting the governments budget under pressure, a government think tank said on Tuesday. The Centraal Plan Bureau (CPB) confirmed
Published 18 Mar, 2009 12:00am
Passenger figures at British airports down in 2008

Passenger figures at British airports down in 2008

The era of constantly rising air passenger numbers in Britain appears to have come to an end in 2008 which marked the first decline in passenger figures in 17 years, statistics published Monday showed.The Civil Aviation Authority (CAA) said passenger numb
Published 18 Mar, 2009 12:00am
China SMIC upbeat as stimulus aids chip sales

China SMIC upbeat as stimulus aids chip sales

Semiconductor Manufacturing International Corp, Chinas largest contract chip maker, said it has seen a clear rise in orders and improved capacity utilisation rates, as signs mount of a turnaround in the market. The upbeat view from SMIC Chief Executive Ri
Published 18 Mar, 2009 12:00am
Mexico slaps tariffs on US products in truck dispute

Mexico slaps tariffs on US products in truck dispute

Mexico on Monday said it would place tariffs on nearly 90 US products after Washington cancelled a programme that allowed some trucks from Mexico to operate in the United States. There is to be an "increase in customs duty on almost 90 industrial and agri
Published 18 Mar, 2009 12:00am
Rio names new chairman as Chinalco row escalates

Rio names new chairman as Chinalco row escalates

Rio Tinto named a new chairman to help get a planned $19.5 billion tie-up with Chinas Chinalco approved, as Australian politicians opposed to the deal raised their level of protest on Tuesday. Designed to help Rio cut its $39 billion debt burden, the deal
Published 18 Mar, 2009 12:00am
Indian dossier handed over to FIA

Indian dossier handed over to FIA

Indian dossier sought by Pakistani investigation authorities in connection with Mumbai terror attacks were handed over to Federal Investigation Agency (FIA) in a meeting held here at the Ministry of Interior on Tuesday. The meeting presided over by Advise
Published 18 Mar, 2009 12:00am
Chinese foreign exchange reserves post record drop

Chinese foreign exchange reserves post record drop

Chinas official foreign exchange reserves recorded their biggest monthly drop in at least nine years in January, a source familiar with the situation told Reuters on Tuesday. The source, who asked not to be identified, declined to say exactly how big the
Published 18 Mar, 2009 12:00am
Hamid Ali Mirza made new CEC

Hamid Ali Mirza made new CEC

President Asif Ali Zardari has appointed the former judge of Supreme Court of Pakistan Hamid Ali Mirza as new Chief Election Commissioner (CEC), said presidential spokesman on Tuesday. Hamid Ali Mirza was appointed the new CEC on the retirement of Qazi Fa
Published 18 Mar, 2009 12:00am
BoJ offers $10.2 billion loans to banks

BoJ offers $10.2 billion loans to banks

The Bank of Japan will offer up to $10.2 billion in subordinated loans to Japanese banks to bolster their depleted capital, it said on Tuesday, in the latest move to try to prevent lending drying up to companies. Countries around the globe are striving to
Published 18 Mar, 2009 12:00am
Hamid Ali Mirza made new CEC

Hamid Ali Mirza made new CEC

President Asif Ali Zardari has appointed the former judge of Supreme Court of Pakistan Hamid Ali Mirza as new Chief Election Commissioner (CEC), said presidential spokesman on Tuesday. Hamid Ali Mirza was appointed the new CEC on the retirement of Qazi Fa
Published 18 Mar, 2009 12:00am
German investor sentiment at 1-1/2 year high

German investor sentiment at 1-1/2 year high

German analyst and investor sentiment rose unexpectedly in March to its highest level in over 1-1/2 years, boosting hopes Europes largest economy will start recovering towards the middle of the year. The Mannheim-based ZEW economic think tank said on Tues
Published 18 Mar, 2009 12:00am
Indian dossier handed over to FIA

Indian dossier handed over to FIA

Indian dossier sought by Pakistani investigation authorities in connection with Mumbai terror attacks were handed over to Federal Investigation Agency (FIA) in a meeting held here at the Ministry of Interior on Tuesday. The meeting presided over by Advise
Published 18 Mar, 2009 12:00am
Canadian factory sales, productivity fall hard

Canadian factory sales, productivity fall hard

Canadian factory sales slid sharply in January, pulled down by automakers as the North American car market deteriorated, pointing to a further economic contraction and possible central bank credit easing. Manufacturing shipments fell 5.4 percent in Januar
Published 18 Mar, 2009 12:00am
Finance releases data of joint investment companies

Finance releases data of joint investment companies

The Ministry of Finance on Tuesday released operational and financial data of the joint investment companies in Pakistan and credit rating of these foreign investors declared by the rating agencies. According to the data issued by the Ministry of Finance,
Published 18 Mar, 2009 12:00am
Dell unveils worlds thinnest laptop

Dell unveils worlds thinnest laptop

Dell Inc unveiled its "luxury" Adamo laptop on Tuesday, calling it the worlds thinnest notebook as it seeks to compete in the high-end ultraportable market defined by Apple Incs MacBook Air. The sleek, aluminium-encased notebook is 0.65-inches thick and c
Published 18 Mar, 2009 12:00am
Finance releases data of joint investment companies

Finance releases data of joint investment companies

The Ministry of Finance on Tuesday released operational and financial data of the joint investment companies in Pakistan and credit rating of these foreign investors declared by the rating agencies. According to the data issued by the Ministry of Finance,
Published 18 Mar, 2009 12:00am
Nokia to cut 1,700 jobs

Nokia to cut 1,700 jobs

Nokia Oyj will slash 1,700 jobs globally over the coming few months because of falling demand, the worlds top cellphone maker said on Tuesday. Nokia said in January it aimed to cut annual costs at its key handset unit alone by more than 700 million euros
Published 18 Mar, 2009 12:00am
Finance releases data of joint investment companies

Finance releases data of joint investment companies

The Ministry of Finance on Tuesday released operational and financial data of the joint investment companies in Pakistan and credit rating of these foreign investors declared by the rating agencies. According to the data issued by the Ministry of Finance,
Published 18 Mar, 2009 12:00am
SocGen to tighten money-laundering oversight: US Fed

SocGen to tighten money-laundering oversight: US Fed

The US Federal Reserve said Tuesday that French bank Societe Generale had agreed to tighten its money-laundering oversight at its New York branch after "deficiencies" there were found. The Fed said that examiners had "identified compliance and risk manage
Published 18 Mar, 2009 12:00am
Zardari signs order to reinstate judges

Zardari signs order to reinstate judges

The government on Tuesday reinstated all deposed judges including deposed Chief Justice Iftikhar Muhammad Chaudhry to the position they were holding immediately before 3rd day of November 2007. Justice Iftikhar Muhammad Chaudhry will assume office of Chie
Published 18 Mar, 2009 12:00am
WTO meeting to reveal bigger trade finance gap

WTO meeting to reveal bigger trade finance gap

When the World Trade Organisation (WTO) gathers experts on Wednesday to review trade finance, they are likely to hear the shortfall in the sector is far worse than it seemed just four months ago. If so, that would confirm a dangerous vicious spiral, in wh
Published 18 Mar, 2009 12:00am
Zardari signs order to reinstate judges

Zardari signs order to reinstate judges

The government on Tuesday reinstated all deposed judges including deposed Chief Justice Iftikhar Muhammad Chaudhry to the position they were holding immediately before 3rd day of November 2007. Justice Iftikhar Muhammad Chaudhry will assume office of Chie
Published 18 Mar, 2009 12:00am
Obama urges end to finger-pointing on budget

Obama urges end to finger-pointing on budget

President Barack Obama, stepping up lobbying for his record $3.5 trillion budget, called on Tuesday for an end to finger-pointing and challenged Congress to offer constructive changes. "With the magnitude of the challenges we face right now, what we need
Published 18 Mar, 2009 12:00am
China to boost Africa investment fund: Financial Times

China to boost Africa investment fund: Financial Times

China will boost its state-run Africa investment fund by two billion dollars, so as to snap up opportunities left by Western investors leaving the continent, the Financial Times said Tuesday. Since its launch in 2006, the China-Africa Development F
Published 18 Mar, 2009 12:00am
US housing starts surge, inflation slower in February

US housing starts surge, inflation slower in February

New US housing starts and permits unexpectedly rebounded in February, according to data on Tuesday that provided a rare dose of good news for the recession-hit economy and fractured housing market. The Commerce Department said housing starts jumped 22.2 p
Published 18 Mar, 2009 12:00am
Restored judges will not take fresh oath: Khosa

Restored judges will not take fresh oath: Khosa

Attorney General Sardar Latif Khosa on Tuesday said that restored judges will not take a fresh oath. Addressing media at the Supreme Court, Khosa said that the legal fraternity did play a major role in the movement for restoration of sacked judiciary.
Published 18 Mar, 2009 12:00am
Fed delays tighter bank capitalisation rules

Fed delays tighter bank capitalisation rules

The US Federal Reserve said Tuesday that it was delaying by two years tighter limits on banks capital adequacy guidelines because of turmoil in the financial system. The new limits for bank holding companies are now scheduled to take effect on March 31, 2
Published 18 Mar, 2009 12:00am
TIP accuses PS of non-transparency in sales

TIP accuses PS of non-transparency in sales

Pakistan Steel (PS) is not selling its products in a transparent way and is unnecessarily delaying rise in the prices of billets for reasons best known to it, says Transparency International of Pakistan (TIP).
Published 18 Mar, 2009 12:00am
UK minister says did not approve former RBS chief executive pension

UK minister says did not approve former RBS chief executive pension

British treasury minister Paul Myners said on Tuesday he did not approve an annual pension payment of around 700,000 pounds ($984,200) for former Royal Bank of Scotland Chief Executive Fred Goodwin. The UK government has faced criticism for allowing Goodw
Published 18 Mar, 2009 12:00am
TIP accuses PS of non-transparency in sales

TIP accuses PS of non-transparency in sales

Pakistan Steel (PS) is not selling its products in a transparent way and is unnecessarily delaying rise in the prices of billets for reasons best known to it, says Transparency International of Pakistan (TIP).
Published 18 Mar, 2009 12:00am
Oil falls below $47

Oil falls below $47

Oil fell below $47 a barrel on Tuesday, giving up previous sessions gains, as news about US credit card defaults dampened sentiments and rekindled worries about the economic health of the worlds No 1 energy consumer. Poor economic data from the US, which
Published 18 Mar, 2009 12:00am
TIP accuses PS of non-transparency in sales

TIP accuses PS of non-transparency in sales

Pakistan Steel (PS) is not selling its products in a transparent way and is unnecessarily delaying rise in the prices of billets for reasons best known to it, says Transparency International of Pakistan (TIP).
Published 18 Mar, 2009 12:00am
US gold ends lower

US gold ends lower

US gold futures ended lower Monday as economic optimism and concerns about further consolidation in an overbought market kept bullion investors on the sidelines. Gold for April delivery settled down $8.10 at $922.00 an ounce on the COMEX division of the N
Published 18 Mar, 2009 12:00am
Restored judges will not take fresh oath: Khosa

Restored judges will not take fresh oath: Khosa

Attorney General Sardar Latif Khosa on Tuesday said that restored judges will not take a fresh oath. Addressing media at the Supreme Court, Khosa said that the legal fraternity did play a major role in the movement for restoration of sacked judiciary.
Published 18 Mar, 2009 12:00am
Gold slips in Asia

Gold slips in Asia

Gold fell 0.4 percent on Tuesday, coming under pressure from selling by scrap dealers to lock in profits around $920 per ounce, while a rise in regional stock markets suggested some recovery in risk appetite. Trade was slow as Japanese institutional inves
Published 18 Mar, 2009 12:00am
Rice worth $2.5 billion lying unsold

Rice worth $2.5 billion lying unsold

As the next season of rice crop planting is not far off, rice growers, traders and millers are in a state of gloom for, the present stock of exportable superior quality rice worth $2.5 billion is lying unsold and no one in the government is in mood to do
Published 18 Mar, 2009 12:00am
Malaysian tin firms

Malaysian tin firms

Malaysian tin rose 0.95 percent on Tuesday despite losses on the London Metal Exchange with buying from European traders, one dealer said.
Published 18 Mar, 2009 12:00am
Rice worth $2.5 billion lying unsold

Rice worth $2.5 billion lying unsold

As the next season of rice crop planting is not far off, rice growers, traders and millers are in a state of gloom for, the present stock of exportable superior quality rice worth $2.5 billion is lying unsold and no one in the government is in mood to do
Published 18 Mar, 2009 12:00am
Malaysian palm oil rises

Malaysian palm oil rises

Malaysian crude palm oil futures climbed 1.1 percent on Tuesday, supported by sturdier crude and soyoil markets although expectations of slower exports in the second half of March weighed on sentiment. The global benchmark for palm oil in Malaysia, the se
Published 18 Mar, 2009 12:00am
Rice worth $2.5 billion lying unsold

Rice worth $2.5 billion lying unsold

As the next season of rice crop planting is not far off, rice growers, traders and millers are in a state of gloom for, the present stock of exportable superior quality rice worth $2.5 billion is lying unsold and no one in the government is in mood to do
Published 18 Mar, 2009 12:00am
New York sugar settles firm

New York sugar settles firm

Raw sugar futures settled firmer Monday on investor buying as constructive fundamentals appear set to nudge the market higher in the coming weeks, brokers said. The key May raw sugar contract added 0.11 cent to end at 12.99 cents per lb. Trading from 12.7
Published 18 Mar, 2009 12:00am
Buying spree continues on KSE

Buying spree continues on KSE

Buying spree continued at the Karachi share market on Tuesday and KSE-100 index gained 74.99 points to close at 6,138.53 points from Mondays 6063.54. The market opened on a strong positive note and the index hit 6,194.02 points intra-day high, up 130.48 p
Published 18 Mar, 2009 12:00am
US soya up

US soya up

US soyabean futures on the Chicago Board of Trade rallied to a one-month high on Monday, as the fifth day of higher equity markets coupled with a correction in the soya-corn spread spurred buying, traders said. May soyabeans ended 34-1/2 cents higher at $
Published 18 Mar, 2009 12:00am
Buying spree continues on KSE

Buying spree continues on KSE

Buying spree continued at the Karachi share market on Tuesday and KSE-100 index gained 74.99 points to close at 6,138.53 points from Mondays 6063.54. The market opened on a strong positive note and the index hit 6,194.02 points intra-day high, up 130.48 p
Published 18 Mar, 2009 12:00am
US copper up

US copper up

US copper futures settled Monday at their highest levels since early November, as a rally on Wall Street and another steep fall in inventories drove the bullish momentum, with further gains likely in the days ahead, traders said. COMEX estimated futures v
Published 18 Mar, 2009 12:00am
Shanghai copper limit up

Shanghai copper limit up

Shanghai copper futures rose by their 5 percent daily limit on Tuesday, boosted by expectations of a strong recovery in Chinas economy, a day after a nearly similar rise in London on falling inventories. The most-active Shanghai June copper contract rose
Published 18 Mar, 2009 12:00am
Indian sugar futures fall

Indian sugar futures fall

Indian sugar futures fell on Tuesday taking losses to about 3 percent over five sessions, as traders stepped up sales to bring down their stocks and comply with government guidelines. Last Thursday the government fixed a limit of 200 tonnes for sugar stoc
Published 18 Mar, 2009 12:00am
BRIndex30 up 74.58 points

BRIndex30 up 74.58 points

On Tuesday, the BRIndex30 opened at 5,804.09, in the green zone, and remained there throughout the trading time and closing at 5,774.51, with a positive change of 74.58 points, or 1.31 percent. It experienced intra-day high of 5,859.30 and low of 5,717.18
Published 18 Mar, 2009 12:00am
US rice lower

US rice lower

US rice futures closed lower on Monday with a big global stockpile of rice weighing on the market. CBOT May rice closed 17 cents per cwt lower at $11.45-1/2 per cwt. Reuters Summit-Pressure off rice market, but problems remain. Iran may buy Thai rice thro
Published 18 Mar, 2009 12:00am
BRIndex30 up 74.58 points

BRIndex30 up 74.58 points

On Tuesday, the BRIndex30 opened at 5,804.09, in the green zone, and remained there throughout the trading time and closing at 5,774.51, with a positive change of 74.58 points, or 1.31 percent. It experienced intra-day high of 5,859.30 and low of 5,717.18
Published 18 Mar, 2009 12:00am
Tokyo rubber futures rise

Tokyo rubber futures rise

Key Tokyo rubber futues rose on Tuesday, benefiting from a recovery in oil prices and the yen staying weaker. Investors struggled to find fresh news to break prices out of their recent narrow ranges, as weakness in global demand and a bleak economic outlo
Published 18 Mar, 2009 12:00am
Buying spree continues on KSE

Buying spree continues on KSE

Buying spree continued at the Karachi share market on Tuesday and KSE-100 index gained 74.99 points to close at 6,138.53 points from Mondays 6063.54. The market opened on a strong positive note and the index hit 6,194.02 points intra-day high, up 130.48 p
Published 18 Mar, 2009 12:00am
Business improves on grain market

Business improves on grain market

Sizeable trading was seen on the wholesale grain and seeds markets on Tuesday as there was some interest in new purchasing, dealers said. On the seed side, til low type gained Rs 250 to Rs 3600 and better type was up by Rs 200 to Rs 3800, other items main
Published 18 Mar, 2009 12:00am
Nominal activity seen on cotton market

Nominal activity seen on cotton market

Slow business was again seen on the cotton market on Tuesday as leading participants felt there was no visible change on the economic side despite an apparent settlement of judges issues, dealers said. The official spot rate was down by Rs 50 to Rs 3150,
Published 18 Mar, 2009 12:00am
Cameroon cocoa prices slip

Cameroon cocoa prices slip

Cocoa prices at farm-gate in Cameroon fell from recent highs in early March, farmers said on Tuesday, though they were still well above previous seasons. Prices in the worlds fifth-biggest grower peaked in February as main crop supplies dried up and world
Published 18 Mar, 2009 12:00am
No bailout package for poor: Bangladesh Nobel laureate

No bailout package for poor: Bangladesh Nobel laureate

Bangladeshi Nobel Peace Prize winner Muhammad Yunus on Tuesday warned that the global economic crisis will hit the worlds poorest people the hardest and that "there is no bailout package for them." The microfinance pioneer, speaking during a visit to Toky
Published 18 Mar, 2009 12:00am
Indian soyaoil futures up

Indian soyaoil futures up

Indian soyaoil futures rose Tuesday, lifted by gains in Malaysian palm oil prices and higher demand in the spot market on a forecast that supplies of rapeseed oil, a substitute, may be lower than expected. At 1:29 pm (0759 GMT), the March contract was up
Published 18 Mar, 2009 12:00am
Ukraine exports 932,900 tons grain

Ukraine exports 932,900 tons grain

Grain exports through Ukrainian Black Sea ports totalled 932,900 tonnes in March 1-15, the UkrAgroConsult agriculture consultancy said on Tuesday. The consultancy quoted data from ports as showing that wheat exports had totalled 437,800 tonnes, barley 147
Published 18 Mar, 2009 12:00am
Qazi courts start functioning in Swat

Qazi courts start functioning in Swat

Qazi courts, established in the district under the peace agreement between NWFP provincial government and Tehrik-e-Nifaz-e-Shariah Muhammadi (TNSM) started functioning formally to provide speedy justice to people. "Qazis will decide cases in the courts, a
Published 18 Mar, 2009 12:00am
US corn futures higher

US corn futures higher

US corn futures closed higher on gains in equities on Monday and on spillover support from a rally in soya as the 2009 US corn and soyabean acreage bidding war heats up. CBOT May corn closed 3 cents per bushel higher at $3.91-1/2 per bushel.
Published 18 Mar, 2009 12:00am
Europe unlikely to buy Canadian GMO rapeseed soon: Oil World

Europe unlikely to buy Canadian GMO rapeseed soon: Oil World

European purchases of Canadian rapeseed (canola) containing genetically-modified organisms (GMOs) are unlikely in the near future, despite an import ban being lifted, because of ample supplies, Hamburg-based oilseeds analysts Oil World forecast on Tuesday
Published 18 Mar, 2009 12:00am
Malaysias main ruling party bars top politician

Malaysias main ruling party bars top politician

Malaysias main ruling party has barred a senior politician who was running to be the countrys deputy prime minister from party polls for "breaking campaign rules" in an effort to clean up its image. The United Malays National Organisation (UMNO), the linc
Published 18 Mar, 2009 12:00am
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