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Print - 2009-03-27
Kayani visits Royal College of Defence Studies

Kayani visits Royal College of Defence Studies

Chief of Army Staff General Ashfaq Parvez Kayani, who is on an official visit to UK, on Thursday visited Royal College of Defence Studies. Chief of General Staff UK Army General Richard Dannatt accompanied the COAS General Kayani during the visit. On arri
Published 27 Mar, 2009 12:00am
Hong Kong announces $10.3 million package for SMEs

Hong Kong announces $10.3 million package for SMEs

Hong Kong has announced a $10.3 million package for the SME sector of Pakistan to enable it to reach its markets, besides offering local businessmen opportunities to explore joint ventures with its business community and elevate bilateral trade.
Published 27 Mar, 2009 12:00am
Smeda holds Inter-University Business Plans contest

Smeda holds Inter-University Business Plans contest

Small and Medium Enterprises Development Authority (Smeda) in collaboration with (Entrepreneurship EDC and Sarhad University of Information Technology (SUIT) held first NWFP Inter-University Business Plans Competition here at Sarhad University on Thursday
Published 27 Mar, 2009 12:00am
Bank Al-Habib AGM held

Bank Al-Habib AGM held

The Annual General Meeting of Bank AL-Habib was held at its Registered Office in Multan on Thursday. The shareholders approved the Annual Accounts for the year ended December 31, 2008. The payment of 12.5 percent Cash Dividend (Final) and the issue of 27.
Published 27 Mar, 2009 12:00am
Higher exports can truly compensate for revenue loss

Higher exports can truly compensate for revenue loss

The US-Pakistan Business Council and the US Chamber of Commerce have recommended to the Obama administration and the US Congress to reduce tariffs on Pakistani textiles in order to help make Pakistani exports stable and reduce the countrys heavy reliance
Published 27 Mar, 2009 12:00am
Reducing the debt from SBP

Reducing the debt from SBP

Advisor to the Prime Minister on Finance Shaukat Tarin has stated that the government is committed to retiring over 100 billion rupees debt to the State Bank of Pakistan (SBP) this month. This, he added, was part of a commitment made by the government to
Published 27 Mar, 2009 12:00am
Poor sense of priorities

Poor sense of priorities

That our public officials just cannot get their priority right has been proven once again by the Sindh government. As per a report in this paper, it was a while ago when the previous government approved a Rs 276 million project for the setting up of efflu
Published 27 Mar, 2009 12:00am
CCP Order: Price floor prevented competitive bidding on bourses - I

CCP Order: Price floor prevented competitive bidding on bourses - I

ORDER: 1. The Competition Commission of Pakistan (hereinafter the "Commission") took suo moto notice of Circulars/Notices issued by Karachi Stock Exchange (hereinafter "KSE"), Lahore Stock Exchange (hereinafter "LSE") and Islamabad Stock Exchange (
Published 27 Mar, 2009 12:00am
Laid off US workers seek future in college

Laid off US workers seek future in college

Realtor and mortgage broker Jullisa Kalish thrived in the property boom. Now that it has turned to bust, she is back in college working toward what she hopes will be a more robust career -- as a bookkeeper. "With an accounting degree ... I can work in a l
Published 27 Mar, 2009 12:00am
Trade and recession - where are the Doha talks heading?

Trade and recession - where are the Doha talks heading?

When it all started, just after the September 11, 2001, terrorist attacks in the United States, the Doha round of trade talks was dubbed a development round. It was meant to promote global development and correct historic distortions which favoured the we
Published 27 Mar, 2009 12:00am
USF, Telenor sign Rs 930 million contract

USF, Telenor sign Rs 930 million contract

Universal Service Fund (USF) and Telenor have entered into a Rs 930 million contract to provide basic telephony and data services to the population in the yet un-served areas of Mirpur Khas "Lot", consisting of un-served areas in Sanghar, Tharparkar, Umer
Published 27 Mar, 2009 12:00am
Paediatric Nephrology Conference begins

Paediatric Nephrology Conference begins

The third Biennial Paediatric Nephrology Conference, "Kidney diseases in children: Issues and challenges" will begin here on Friday. Professor Afroze Ramzan Sherali and Chairperson of the Pediatric Nephrology Group of the Pakistan Pediatrics Association t
Published 27 Mar, 2009 12:00am
Extending Drone attacks to Balochistan

Extending Drone attacks to Balochistan

US is planning to extend Drone attacks to Balochistan. Already strong anti-US feelings exist amongst the people for Drone attacks in FATA region and operation in Balochistan will add fuel to the fire. In coming days it is feared that US will continue air
Published 27 Mar, 2009 12:00am
Balochistan to be strengthened in all aspects: Kaira

Balochistan to be strengthened in all aspects: Kaira

Federal Minister for Information and Broadcasting Qamar Zaman Kaira has said that present federal government is determined to strengthen Balochistan from all aspects besides increasing its share in the revenue generated through exploitation of its natural
Published 27 Mar, 2009 12:00am
UK-based Kashmiris promoting Pakistans image

UK-based Kashmiris promoting Pakistans image

Chaudhry Muhammad Siddique Advocate, President of the Friends of Mirpur (FoM) organisation said on Thursday that Britain-based Kashmiri expatriates were playing important role in projecting positive image of Pakistan there. He was speaking as chief guest
Published 27 Mar, 2009 12:00am
US move to cut tariffs on Pakistani textiles hailed

US move to cut tariffs on Pakistani textiles hailed

Chairman, Faisalabad Dry Port Trust (FDPT), Sheikh Ashfaq Ahmed, has hailed the US Chamber of Commerce and US-Pakistani Council Report, which made drastic cuts in tariffs on Pakistani textiles. In the report, the US Business groups have welcomed President
Published 27 Mar, 2009 12:00am
Rain lashes Quetta

Rain lashes Quetta

Rainfall lashed the provincial capital and its surrounding areas on Thursday evening following which the weather turned cold in the city. Dark clouds started covering the sky at the afternoon in the city, which consequently led to precipitation in the eve
Published 27 Mar, 2009 12:00am
UAF festival 2009 kicks off today

UAF festival 2009 kicks off today

A five-day University festival 2009 of University of Agriculture Faisalabad (UAF) is going to begin from Friday (today), which will be inaugurated by the Vice Chancellor of the UAF, Professor Dr Iqrar Ahmad Khan. In this connection all organising committe
Published 27 Mar, 2009 12:00am
Pakistani delegation in Saudi Arabia to explore rice market

Pakistani delegation in Saudi Arabia to explore rice market

An eighteen member Pakistani delegation of rice exporters led by chairman Rice Exports Association, Abdur Rahim Janoo called on President Makkah Chamber of Commerce and Industry, Aadil Kaaki in Makkah Al Mukarrmah. Speaking on the occasion, Aadil Kaaki sa
Published 27 Mar, 2009 12:00am
Preparation of uplift plan for Mayo Hospital directed

Preparation of uplift plan for Mayo Hospital directed

The Punjab government has directed to prepare a comprehensive development plan for the Mayo Hospital keeping in view the historical characteristics and architectural design of the old building. An amount of Rs 200 million is being spent for the purchase/
Published 27 Mar, 2009 12:00am
US MIDDAY: gold futures rise

US MIDDAY: gold futures rise

US gold futures climbed on Thursday in mixed, choppy trade as COMEX options expired, and the platinum group metals rose sharply on optimism that US government aid to automakers will boost autocatalyst demand. Gold for April delivery up $2.00 at $937.80 an
Published 27 Mar, 2009 12:00am
US MIDDAY: sugar rebounds

US MIDDAY: sugar rebounds

Raw sugar futures on ICE Futures US at 1213 GMT. May raw sugar contract rose 0.18 cent to 13 cents per lb. Dealing from 12.85 to 13.05 cents. Volume at 4,983 lots.
Published 27 Mar, 2009 12:00am
US MIDDAY: corn, wheat rise; soya falls

US MIDDAY: corn, wheat rise; soya falls

Chicago Board of Trade grains and soy complex trends at 12:22 pm CDT (1722 GMT) Thursday. May wheat up 4 cents at $5.12 a bushel. May corn up 5 cents at $3.90-3/4 a bushel. Soyabeans of May down 2 cents at $9.49 a bushel. Choppy market turns weaker on fea
Published 27 Mar, 2009 12:00am
US MIDDAY: copper rallies

US MIDDAY: copper rallies

US copper futures jumped over 4 percent early Thursday as talk of a possible pick-up in Chinese demand drove the bullish sentiment. Copper for May delivery surged 5.90 cents, or nearly 3.3 percent, to $1.8620 a lb by 10:17 am EDT (1417 GMT) on the New Yor
Published 27 Mar, 2009 12:00am
London gold firms, platinum climbs

London gold firms, platinum climbs

Gold ticked higher in volatile trade on Thursday, underpinned by improving investment appetite and gains in other commodities such as oil and metals and despite the dollar rising against the euro. Platinum touched its highest in six months as dollar weakn
Published 27 Mar, 2009 12:00am
US MIDDAY: coffee, cocoa climb

US MIDDAY: coffee, cocoa climb

Arabica coffee futures rose to a 1-1/2 month high and US cocoa also climbed on Thursday as a weakened dollar and a commodities rally led by crude oil boosted the softs markets in thin trade, traders said. Arabica coffee for May delivery rose 1.90 cent, or
Published 27 Mar, 2009 12:00am
Sugar slips, coffee up in London

Sugar slips, coffee up in London

Sugar futures turned lower on Thursday with concerns about the outlook for demand weighing on the market, dealers said. Coffee prices were higher as oil led an advance in many commodity markets while cocoa on ICE was little changed. Benchmark ICE May raw
Published 27 Mar, 2009 12:00am
Copper jumps three percent

Copper jumps three percent

Copper surged 3 percent to hit 4-1/2 month highs on Thursday, boosted by a rise in US durable goods orders and a jump in new home sales which lifted the outlook for the economy and demand. London Metal Exchange copper for three-month delivery rose to clos
Published 27 Mar, 2009 12:00am
Oil hits a four-month high

Oil hits a four-month high

Oil prices touched a four-month high over $54 a barrel on Thursday tracking Wall Street as better-than-expected economic data improved investor sentiment. US crude rose $1.57 to $54.34 a barrel after hitting $54.66 a barrel earlier in the session - its hi
Published 27 Mar, 2009 12:00am
New York cotton settles lower

New York cotton settles lower

Cotton futures crumbled from investor liquidation to end lower on Thursday and the weak tone of the market may lead to further losses in the coming sessions, brokers said. The key May cotton contract dropped 0.62 cent to end at 43.96 cents per lb, dealing
Published 27 Mar, 2009 12:00am
Banks, miners lift FTSE

Banks, miners lift FTSE

Gains in banks and miners prompted by recovering risk appetite on Thursday outweighed weakness in oils, retailers and utilities, to leave Britains FTSE 100 closing 0.6 percent higher. Britains blue chip index closed 24.95 points higher at 3,925.20, having
Published 27 Mar, 2009 12:00am
Indian shares up 3.47 percent

Indian shares up 3.47 percent

Indian shares rose 3.47 percent on Thursday, crossing the 10,000-point mark as world markets were lifted on improved US economic data, spurring hopes for a global recovery, dealers said. The benchmark 30-share Sensex index rose 335.2 points to 10,003.1, m
Published 27 Mar, 2009 12:00am
Philippines shares higher

Philippines shares higher

Philippines share prices closed 2.51 percent higher on Thursday, boosted by overnight gains on Wall Street, dealers said. The composite index added 48.72 points to 1,988.26, the seventh day of advances. The all shares index added 26.62 points, or 2.12 per
Published 27 Mar, 2009 12:00am
Thursdays mid-afternoon trade: Wall Street surges

Thursdays mid-afternoon trade: Wall Street surges

US stocks rose for a second straight day on Thursday on continued optimism the US recession may be easing, as fourth-quarter economic data and weekly jobless claims that were in line with expectations kept the focus on positive signs earlier in the week.
Published 27 Mar, 2009 12:00am
Chinese shares up

Chinese shares up

Chinese shares closed up 3.06 percent on Thursday as steel, metal and textile stocks regained ground after the government unveiled plans to increase export tax rebates, dealers said. The Shanghai Composite Index, which covers A and B shares, rose 70.15 po
Published 27 Mar, 2009 12:00am
CDS little changed

CDS little changed

Credit default swap spreads were little changed on Thursday, after tightening earlier in the day partly in response to an offer by UK bank Lloyds to buy back subordinated debt. Royal Bank of Scotland came out with a similar offer to exchange subordinated
Published 27 Mar, 2009 12:00am
CDS little changed

CDS little changed

Credit default swap spreads were little changed on Thursday, after tightening earlier in the day partly in response to an offer by UK bank Lloyds to buy back subordinated debt. Royal Bank of Scotland came out with a similar offer to exchange subordinated
Published 27 Mar, 2009 12:00am
Asian bond spreads narrow

Asian bond spreads narrow

Asian bond spreads narrowed on Thursday, lifted by unexpectedly strong US economic data overnight, but expectations of more supply capped gains in South Korean bonds. A rebound in US durable goods orders and higher sales of newly built single-family homes
Published 27 Mar, 2009 12:00am
Asian bond spreads narrow

Asian bond spreads narrow

Asian bond spreads narrowed on Thursday, lifted by unexpectedly strong US economic data overnight, but expectations of more supply capped gains in South Korean bonds. A rebound in US durable goods orders and higher sales of newly built single-family homes
Published 27 Mar, 2009 12:00am
Swiss franc a touch softer

Swiss franc a touch softer

The Swiss franc was a touch softer against the euro and the dollar ahead of updated economic forecasts from Switzerlands leading research institute KOF. The KOF Swiss Economic Institute, which turned negative on the Swiss economy in December, is likely to
Published 27 Mar, 2009 12:00am
Dollar firms versus majors in London

Dollar firms versus majors in London

The dollar firmed against major currencies on Thursday after wild swings the previous day on US Treasury Secretary Timothy Geithners comments on reserve currencies. New Zealands dollar gained roughly 2 percent against the US dollar and yen, lifting other
Published 27 Mar, 2009 12:00am
Sterling slips

Sterling slips

Sterling fell against the dollar and euro on Thursday after data showed UK retail sales were much weaker than expected in February. The pound extended losses as US stocks pared gains and the dollar broadly rose after yields on 1-month Treasury bills brief
Published 27 Mar, 2009 12:00am
Indian rupee rises

Indian rupee rises

The Indian rupee rose on Thursday as an extended share market rally and strength in regional currencies raised hopes that rising risk appetite among investors would lead to sustained fund inflows. The partially convertible rupee ended at 50.59/61 per doll
Published 27 Mar, 2009 12:00am
Lending costs rise across the board

Lending costs rise across the board

The cost of bank-to-bank lending, a key gauge of credit availability, rose across the board on Thursday ahead of the quarter-end, as optimism over the US bank asset plan faded slightly and short-term interest rate swap spreads widened.
Published 27 Mar, 2009 12:00am
Vote on IAEA chief inconclusive after first three rounds

Vote on IAEA chief inconclusive after first three rounds

The race for the top job at the UN atomic agency remained open after the first three rounds of voting Thursday, with neither of the two candidates able to secure a convincing lead. Japanese candidate, Yukiya Amano, 61, had previously been seen as the fron
Published 27 Mar, 2009 12:00am
China calls US report on military gross distortion

China calls US report on military gross distortion

China said Thursday that a Pentagon report warning of Beijings growing military power distorted the truth and urged the United States to stop issuing the annual assessment or risk harming relations. "This report issued by the US side continues to play up
Published 27 Mar, 2009 12:00am
Sarkozy calls on Congo, former foes to work together

Sarkozy calls on Congo, former foes to work together

President Nicolas Sarkozy, in Africa with a team of French executives eager for deals, urged Congo and its former enemies on Thursday to launch a new partnership based on exploiting the regions natural riches. Sarkozys appeal in the Democratic Republic of
Published 27 Mar, 2009 12:00am
Indias ruling coalition loses ally in south

Indias ruling coalition loses ally in south

A government ally in the southern Indian state of Tamil Nadu will forge a new regional alliance in a blow to the ruling Congress partys attempts to secure a national coalition weeks before the general election. The Pattali Makkal Katchi (PMK) party said i
Published 27 Mar, 2009 12:00am
North Korea readies missile, makes new threat

North Korea readies missile, makes new threat

North Korea said on Thursday that if the international community punishes it for next months planned missile launch it will restart a nuclear plant that makes weapons grade plutonium. The secretive state this week put a long-range missile in place for a l
Published 27 Mar, 2009 12:00am
Britain to probe MI5 role in Guantanamo detainee torture

Britain to probe MI5 role in Guantanamo detainee torture

British police have been asked to investigate claims that MI5 colluded in the torture of former Guantanamo detainee Binyam Mohamed, the countrys top law official said Thursday. Attorney General Baroness Janet Scotland said she hoped the investigation woul
Published 27 Mar, 2009 12:00am
Space launch may risk more than condemnation: US

Space launch may risk more than condemnation: US

North Korea would risk international condemnation or "worse" if it were to carry through with plans for a space launch that the United States suspects is cover for a ballistic missile program, US Director of National Intelligence Dennis Blair said on Thur
Published 27 Mar, 2009 12:00am
US software tycoon makes space history

US software tycoon makes space history

US software pioneer Charles Simonyi on Thursday became the first person to travel twice to space as a tourist, as he blasted off to the International Space Station (ISS). Simonyi, 60, along with an American and a Russian astronaut, was launched aboard a R
Published 27 Mar, 2009 12:00am
Cuba loosens spending rule for state companies

Cuba loosens spending rule for state companies

Cuban President Raul Castro has loosened controls on how state companies spend foreign currency in the first sign a recent cabinet shake-up heralds changes in the running of the economy, businessmen and economists said. The Cuban and foreign sources said
Published 27 Mar, 2009 12:00am
New peace envoy gets indefinite mandate in Bosnia

New peace envoy gets indefinite mandate in Bosnia

A new international peace envoy took office in Bosnia on Thursday amid concerns about growing instability there that prompted diplomats to give him an indefinite mandate. Austrias Valentin Inzko immediately pledged to help the Balkan country - scene of a
Published 27 Mar, 2009 12:00am
Continental relocates meeting after worker egg attack

Continental relocates meeting after worker egg attack

Tyre firm Continental said Thursday it will move its next works council meeting from northern France to the Riviera because at the last one angry workers burst in and pelted managers with eggs. "It seemed impossible to hold the works council meeting in Re
Published 27 Mar, 2009 12:00am
Obama calls Afghan president

Obama calls Afghan president

US President Barack Obama called Afghan leader Hamid Karzai late Thursday to tell him Washington has completed a review of its strategy in Afghanistan and the "war on terror", Karzais office said. "The American president gave information on the key points
Published 27 Mar, 2009 12:00am
US must boost Afghanistan intelligence: spy chief

US must boost Afghanistan intelligence: spy chief

The United States must improve its intelligence gathering in Afghanistan, the US Director of National Intelligence Dennis Blair said Thursday. "We need to ramp up the level of intelligence support in Afghanistan," Blair told journalists in his first press
Published 27 Mar, 2009 12:00am
French-Russian mathematician Gromov wins Abel prize

French-Russian mathematician Gromov wins Abel prize

French-Russian mathematician Mikhail Gromov on Thursday won one of the worlds top mathematics award, Norways Abel Prize, for "his revolutionary contributions to geometry," the prize committee said. "Mikhail Gromov is always in pursuit of new questions and
Published 27 Mar, 2009 12:00am
French military to get Pentagon-style Paris Headquarters

French military to get Pentagon-style Paris Headquarters

Frances defence ministry and armed forces are to get a new Pentagon-style headquarters in southern Paris under plans unveiled on Thursday intended to boost military co-operation. Fifteen key ministry and armed forces divisions, currently scattered over a
Published 27 Mar, 2009 12:00am
Taliban attack kills 10 Afghan cops

Taliban attack kills 10 Afghan cops

Taliban fighters on Thursday stormed a police post in southern Afghanistan, killing 10 in the latest in a surge of attacks as the US fine-tuned a new strategy for the war-torn nation. The brazen early morning attack took place in the Nahri Sarraj district
Published 27 Mar, 2009 12:00am
Baghdad car bomb kills at least 20

Baghdad car bomb kills at least 20

A car bomb ripped through a crowd in Baghdad on Thursday, killing at least 20 people, including women and children, a day after the US military said violence in Iraq was at its lowest in six years. The blast occurred near a market in the capitals Shaab ne
Published 27 Mar, 2009 12:00am
Ban picks former New Zealand Prime Minister for development agency

Ban picks former New Zealand Prime Minister for development agency

UN chief Ban Ki-moon has picked former New Zealand prime minister Helen Clark as the new head of the United Nations Development Program (UNDP) to succeed Kemal Dervis of Turkey, the world body said Thursday. UN spokeswoman Michele Montas told a press brie
Published 27 Mar, 2009 12:00am
Taylor and Ryder lead New Zealand charge

Taylor and Ryder lead New Zealand charge

A record-breaking partnership brought centuries for Ross Taylor and Jesse Ryder to steady New Zealand after a shaky start on day one of the second Test against India here Thursday. At stumps New Zealand were 351-4, with Ryder not out on 137 and Taylor bac
Published 27 Mar, 2009 12:00am
Chelsea seek to tap vein of British Asian talent

Chelsea seek to tap vein of British Asian talent

Chelsea have launched an initiative aimed at identifying promising young players from a south Asian background in a bid to address the communitys chronic under-representation in English football. Britain is home to over three million people with family ro
Published 27 Mar, 2009 12:00am
Younus Khan meets PTCL president

Younus Khan meets PTCL president

PTCL in association with Etisalat is enthusiastically planning to develop a lasting relationship with Pakistani cricket and results of this endeavour would soon become visible. This was stated by President and CEO PTCL, Walid Irshaid in a meeting with Pak
Published 27 Mar, 2009 12:00am
PFF D-Certificate football coaching course starts at Lahore

PFF D-Certificate football coaching course starts at Lahore

For becoming a successful football coach, it is necessary to open mind for new ideas with a commitment to face the challenges ahead, said Karachi-based PFF Coaching Instructor Muhammad Siddique Sheikh. While addressing the session of PFF D-Certificate Foo
Published 27 Mar, 2009 12:00am
Australia jittery over India tie after IPL exile

Australia jittery over India tie after IPL exile

Indian tennis authorities on Thursday dismissed Australian requests to have their Davis Cup tie moved as sports teams show increasing wariness about travelling to the country. Australias spokesman Nick Imison told the Times of India that he had asked for
Published 27 Mar, 2009 12:00am
Asian currencies rise

Asian currencies rise

Asian currencies rose on Thursday as stocks rallied from Tokyo to Mumbai, but the gains were capped by the dollars rebound against key currencies and lingering investor concerns about the global economy. The South Korean won jumped 2.5 percent to 1,329.7
Published 27 Mar, 2009 12:00am
England look to Flintoff for inspiration

England look to Flintoff for inspiration

England hope that the return of Andrew Flintoff will spark a revival in the third one-day international against West Indies at Kensington Oval on Friday. Flintoff is set to return to the England line-up from his latest injury - a hip strain - for a match
Published 27 Mar, 2009 12:00am
US dollar falls

US dollar falls

The US dollar fell against major currencies on Wednesday after US Treasury Secretary Timothy Geithner said he was open to expanding the use of the International Monetary Funds special drawing rights. Investors initially interpreted his remarks as an endor
Published 27 Mar, 2009 12:00am
Australian dollar holds ground

Australian dollar holds ground

The Australian dollar held steady near multi-month highs against the US dollar and yen on Thursday as investors took a breather from its recent sharp rally to see if the gains could be sustained. The Aussie was little changed at $0.6987, from $0.6991 late
Published 27 Mar, 2009 12:00am
Kiwi jumps

Kiwi jumps

New Zealands dollar jumped more than 1 percent against the US dollar and the yen on Thursday as investors searching for yield took the view that interest rates there were at or very near the bottom. In an otherwise subdued Asian session, the US dollar edg
Published 27 Mar, 2009 12:00am
Yuan stable

Yuan stable

Spot yuan closed steady against the dollar on Thursday as the Chinese central bank kept its mid-point nearly flat while Chinese officials gave divergent views about the outlook for the worlds third-largest economy. Offshore, yuan appreciation against the
Published 27 Mar, 2009 12:00am
New Zealand shares fall

New Zealand shares fall

New Zealand share prices closed 0.53 percent lower on Thursday, although retail buying interest underpinned the market, dealers said. The benchmark NZX-50 index fell 14.07 points to 2,616.25 on turnover worth 70.3 million New Zealand dollars (40.4 million
Published 27 Mar, 2009 12:00am
Malaysian shares up

Malaysian shares up

Malaysian shares closed 0.80 percent higher on Thursday as foreign funds snapped up banking and construction blue chips, dealers said. The Kuala Lumpur Composite Index gained 6.66 points to 885.47, with advancers outpacing decliners 339 to 128.
Published 27 Mar, 2009 12:00am
Thai share prices jump

Thai share prices jump

Thai share prices closed 0.57 percent higher on Thursday in line with regional markets, dealers said. But they said concerns over political instability in Thailand dampened sentiment as thousands of anti-government protesters massed in Bangkok. The Stock
Published 27 Mar, 2009 12:00am
Nikkei ends firmer

Nikkei ends firmer

Japans Nikkei average rose 1.8 percent to hit a 2-1/2-month closing high on Thursday as exporters such as Sony Corp gained after unexpectedly strong US economic data sparked hopes for an economic recovery. Elpida Memory Inc soared 18 percent to 657 yen af
Published 27 Mar, 2009 12:00am
Singapore shares surge

Singapore shares surge

Singapore shares rose 3.97 percent on Thursday, cheered by strong performances in the US and regional stock markets, dealers said. The blue chip Straits Times Index (STI) gained 67.11 points to close at 1,758.79 on volume of 1.56 billion shares worth 1.41
Published 27 Mar, 2009 12:00am
Seoul shares up

Seoul shares up

Seoul shares finished higher on Thursday led by Hynix Semiconductor and banking issues, with unexpectedly strong US economic data and gains in the won also lending support. The Korea Composite Stock Price Index finished up 1.20 percent at 1,243.80 points,
Published 27 Mar, 2009 12:00am
US bond prices tumble

US bond prices tumble

US Treasuries fell on Wednesday, with benchmark yields reaching their highest levels in a week on concerns over a surge of debt supply to finance the ballooning US deficit. Losses extended on Wednesday afternoon after tepid demand in a record-large auctio
Published 27 Mar, 2009 12:00am
US bond prices tumble

US bond prices tumble

US Treasuries fell on Wednesday, with benchmark yields reaching their highest levels in a week on concerns over a surge of debt supply to finance the ballooning US deficit. Losses extended on Wednesday afternoon after tepid demand in a record-large auctio
Published 27 Mar, 2009 12:00am
US stocks rally

US stocks rally

US stocks rose in a late rally on Wednesday as unexpectedly strong housing and durable goods data fuelled hopes the economy is finally on the mend, offsetting concerns the United States may struggle to fund plans to pull the economy out of recession. Trad
Published 27 Mar, 2009 12:00am
Taiwan stocks at 5-1/2-month highs

Taiwan stocks at 5-1/2-month highs

Taiwan stocks rose 0.75 percent on Thursday to 5-1/2-month closing highs, with DRAM shares rallying after the islands largest DRAM maker Powerchip said the sector was likely to face shortages in the third quarter. The main TAIEX share index climbed 40.18
Published 27 Mar, 2009 12:00am
Hong Kong shares to 11-week high

Hong Kong shares to 11-week high

ICBC notched up its biggest gain in five months, paving the way for a 3.6 percent rally in Hong Kong shares that took them to a 11-week high on Thursday, with other Chinese bank stocks following the strong showing from the countrys top lender.
Published 27 Mar, 2009 12:00am
TUI eyes 2009 profit as travel takes off

TUI eyes 2009 profit as travel takes off

German tourism group TUI AG expects to return to profit this year thanks to divestments and brighter prospects at TUI Travel as British customers start spending again despite economic gloom. TUI, which just sold its Hapag-Lloyd shipping business to a Hamb
Published 27 Mar, 2009 12:00am
TUI eyes 2009 profit as travel takes off

TUI eyes 2009 profit as travel takes off

German tourism group TUI AG expects to return to profit this year thanks to divestments and brighter prospects at TUI Travel as British customers start spending again despite economic gloom. TUI, which just sold its Hapag-Lloyd shipping business to a Hamb
Published 27 Mar, 2009 12:00am
Argentinas monthly growth slowest since December 2002

Argentinas monthly growth slowest since December 2002

Argentinas economy grew 2.3 percent in January from a year earlier, the lowest monthly rate in more than six years as the global crisis hits home, the government said on Wednesday. The figure came in just below the 2.4 percent median forecast given in a R
Published 27 Mar, 2009 12:00am
Taiwan keeps rates on hold, but more cuts seen

Taiwan keeps rates on hold, but more cuts seen

Taiwans central bank surprisingly left interest rates intact at a record low of 1.25 percent on Thursday, its first pause after seven straight cuts aimed at supporting the export-led economy amid a global recession. However, with economy expected to remai
Published 27 Mar, 2009 12:00am
Latvia says IMF not seeking devaluation, talks budget

Latvia says IMF not seeking devaluation, talks budget

The International Monetary Fund (IMF) is not seeking a devaluation in Latvia and an agreement to keep the currency peg to the euro remains in force, Prime Minister Valdis Dombrovskis and the Fund said on Thursday. Dombrovskis was explaining earlier remark
Published 27 Mar, 2009 12:00am
Zara owner Inditex pleases with upbeat 2009 outlook

Zara owner Inditex pleases with upbeat 2009 outlook

Spains Inditex, owner of mid-market fashion chain Zara, reported flat net profit for 2008 on Wednesday but pleased investors with an upbeat outlook for this year, pushing its shares as much as 7 percent higher. Europes biggest clothing retailer said it ai
Published 27 Mar, 2009 12:00am
Go-Ahead plans for sales drop on City routes

Go-Ahead plans for sales drop on City routes

British transport group Go-Ahead Group Plc has prepared for a potential 3 percent slump in rail passenger revenue on its routes into central London in 2009, while also cutting 500 jobs at its aviation division. Chief Executive Keith Ludeman said he was st
Published 27 Mar, 2009 12:00am
Australia housing market underpinned by low rates: RBA

Australia housing market underpinned by low rates: RBA

Australias housing market is in far better shape than many abroad with falling mortgage rates boosting affordability and likely lifting home building later this year, a top central banker said on Thursday. The head of the Reserve Bank of Australias (RBA)
Published 27 Mar, 2009 12:00am
Italys consumer morale falls as job fears grow

Italys consumer morale falls as job fears grow

Italian consumer morale dropped a lot more than expected in March, with concern about job security higher than at any time in the last 15 years and analysts saying the public finally seemed to grasp the severity of the crisis. Research institute ISAEs sea
Published 27 Mar, 2009 12:00am
Swiss economy to shrink 2.4 percent in 2009: KOF

Swiss economy to shrink 2.4 percent in 2009: KOF

Switzerlands economy will shrink by 2.4 percent in 2009 and by a further 0.3 percent the following year, the KOF Economic Research Institute said on Thursday, slashing its previous forecast sharply. The Swiss National Bank also said that the countrys expo
Published 27 Mar, 2009 12:00am
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