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Print - 2009-05-12
Arrangements to conduct PST test finalised

Arrangements to conduct PST test finalised

The University of Sindh (SU) has finalised the arrangements to conduct the Primary School Teachers (PST) test in 20 districts of the Province. A joint meeting of the Sindh Education and Literacy department and SU was convened on Monday to discuss the matt
Published 12 May, 2009 12:00am
16 new buses for special education institutions of Gujranwala

16 new buses for special education institutions of Gujranwala

The special education cum vocational training institutions of Gujranwala district will be getting 16 new buses with rupees 20 million altogether. Commissioner Gujranwala, Khalid Masood Chaudhry made the decision while chairing a meeting here on Monday, wh
Published 12 May, 2009 12:00am
Hino prime movers, high power Dutro models inaugurated

Hino prime movers, high power Dutro models inaugurated

The Prime Minister Yousuf Raza Gilani inaugurated the new Hino Prime Mover and High Power Dutro truck models in a ceremony held at Hotel Carlton on May 9. He was also shown the prototype of Hino Export bus for Middle East and Africa.
Published 12 May, 2009 12:00am
UK's top share index falls

UK's top share index falls

Britain's blue chip index ended down 0.6 percent on Monday, with weaker raw material prices hurting oil producers and miners, but drugmaker AstraZeneca and utility Centrica offered support. The FTSE 100 closed 26.59 points lower at 4,435.5, after rising m
Published 12 May, 2009 12:00am
Indian shares down

Indian shares down

Indian shares fell 1.63 percent on Monday as political uncertainty weighed on investor sentiment ahead of results for the country's general election due at the weekend, dealers said. The 30-share Sensex fell 193.44 points to 11,682.99. Polling in the mont
Published 12 May, 2009 12:00am
European derivative spreads widen

European derivative spreads widen

European credit derivative spreads widened on Monday, tracking a drop in stock markets, as analysts said last week's rally had overshot and as big US banks announced share sales. Cash bond spreads kept their tighter spread levels, analysts said, as more n
Published 12 May, 2009 12:00am
Monday's early afternoon trade: Dow and S&P slip; Nasdaq inches up

Monday's early afternoon trade: Dow and S&P slip; Nasdaq inches up

US stocks mostly fell on Monday, weighed by profit taking after a two-month climb and news of several banks' share offerings that cooled interest in the financial sector. The Nasdaq was slightly higher as buying of big-cap software makers' shares offset p
Published 12 May, 2009 12:00am
European derivative spreads widen

European derivative spreads widen

European credit derivative spreads widened on Monday, tracking a drop in stock markets, as analysts said last week's rally had overshot and as big US banks announced share sales. Cash bond spreads kept their tighter spread levels, analysts said, as more n
Published 12 May, 2009 12:00am
Asian bond spreads widen

Asian bond spreads widen

Asian bond spreads widened on Monday as investors took profits after last week's rally, which saw the iTraxx index posting its best level in seven months on optimism that the worst of the global downturn may be over. "We are seeing mild profit taking afte
Published 12 May, 2009 12:00am
Asian bond spreads widen

Asian bond spreads widen

Asian bond spreads widened on Monday as investors took profits after last week's rally, which saw the iTraxx index posting its best level in seven months on optimism that the worst of the global downturn may be over. "We are seeing mild profit taking afte
Published 12 May, 2009 12:00am
Yen rises broadly, dollar rebounds

Yen rises broadly, dollar rebounds

The dollar rebounded from a four-month low and the yen rose broadly on Monday as investors cashed in on last week's rally in riskier assets such as stocks, boosting the appeal of so-called safer haven currencies.
Published 12 May, 2009 12:00am
Indian rupee falls

Indian rupee falls

The Indian rupee was pulled from three-month peaks on Monday by a fall in shares and on demand for the US dollar from importers and oil refiners, with upcoming election results keeping traders cautious. The partially convertible rupee closed at 49.52/53 p
Published 12 May, 2009 12:00am
Sterling falls across the board

Sterling falls across the board

Sterling fell sharply across the board on Monday, mirroring declines in equities and other currencies perceived as higher risk as investors took profit after last week's strong rally in risky assets. Last week's unexpected Bank of England decision to expa
Published 12 May, 2009 12:00am
Interbank rates continue to fall, stress eases

Interbank rates continue to fall, stress eases

Bank-to-bank dollar funding costs eased on Monday with the three-month rate reaching a fresh low as hopes the embattled financial sector may be recovering continued to help mend the interbank money market.
Published 12 May, 2009 12:00am
New Palestinian government within 48 hours: Abbas

New Palestinian government within 48 hours: Abbas

Palestinian President Mahmoud Abbas announced Monday that a new Palestinian government will be declared within 48 hours - but did not say whether it would be headed by current acting Prime Minister Salam Fayyad. "We have decided to restructure the governm
Published 12 May, 2009 12:00am
US soldier opens fire, kills five fellow troops

US soldier opens fire, kills five fellow troops

A US soldier opened fire on fellow troops Monday, killing five before being taken into custody, the US command said. The shooting occurred at Camp Liberty, a sprawling US base on the western edge of Baghdad near the city's international airport and adjace
Published 12 May, 2009 12:00am
Cambodia court rejects bail for Khmer Rouge 'First Lady'

Cambodia court rejects bail for Khmer Rouge 'First Lady'

Cambodia's UN-backed genocide tribunal on Monday rejected an appeal by the former "First Lady" of the hard-line communist Khmer Rouge government to be released on bail. Ieng Thirith, 77, the regime's one-time social affairs minister, is one of five top ca
Published 12 May, 2009 12:00am
Gordon Brown apologises over dog food, other expenses

Gordon Brown apologises over dog food, other expenses

British Prime Minister Gordon Brown apologised Monday after days of revelations about lawmakers' expenses, including for dog food, as the spotlight turned on opposition Conservatives. Day four of the revelations in a newspaper showed expense claims for re
Published 12 May, 2009 12:00am
61 Afghan schoolgirls treated for apparent gas poisoning

61 Afghan schoolgirls treated for apparent gas poisoning

More than 60 Afghan schoolgirls were admitted to hospital on Monday with symptoms of poisoning, apparently from a gas, in the second case in the same town in two weeks, officials said. Concerned relatives crowded the hospital in the town of Charikar, abou
Published 12 May, 2009 12:00am
Asia to spend $60 billion on navies in five years: analyst

Asia to spend $60 billion on navies in five years: analyst

Asian states led by China, Japan and South Korea are expected to spend some 60 billion dollars to beef up their navies in the next five years, an industry analyst said Monday. That is bigger than what Nato countries - excluding the United States - are for
Published 12 May, 2009 12:00am
Jewish group boycotts EU meeting over alleged Islamist links

Jewish group boycotts EU meeting over alleged Islamist links

A European Union meeting with religious groups on the current economic crisis was dealt a blow on Monday as a leading Jewish organisation boycotted it in protest at the inclusion of allegedly extremist Islamist groups. The London-based Conference of Europ
Published 12 May, 2009 12:00am
Somali pirates free Greek-owned vessel

Somali pirates free Greek-owned vessel

Somali pirates have freed a Greek-owned chemical tanker captured in late March, the shipping firm and a regional maritime group said on Monday, but the company would not say whether any ransom had been paid. "Following regular contact with the captain and
Published 12 May, 2009 12:00am
UN decries Sri Lanka 'bloodbath'; 106 children die

UN decries Sri Lanka 'bloodbath'; 106 children die

The United Nations condemned a 'bloodbath' in Sri Lanka's northern war zone Monday after two days of shelling that a government doctor said killed as many as 1,000 ethnic Tamil civilians - including 106 children. Volunteers dug mass graves in the marshlan
Published 12 May, 2009 12:00am
Aung San Suu Kyi on saline drip

Aung San Suu Kyi on saline drip

Myanmar opposition leader Aung San Suu Kyi is in poor health and on a saline drip after the arrest of her private doctor last week and an unexpected visit from a US swimmer, it was disclosed Monday. Authorities allowed Dr Pyon Mo Ei to visit Suu Kyi Monda
Published 12 May, 2009 12:00am
Pope slams anti-Semitism on Israel visit

Pope slams anti-Semitism on Israel visit

Pope Benedict XVI on Monday denounced anti-Semitism and appealed for Middle East peace based on a two-state solution on the latest leg of a pilgrimage to press for reconciliation. "Sadly, anti-Semitism continues to rear its ugly head in many parts of the
Published 12 May, 2009 12:00am
Japan opposition leader quits

Japan opposition leader quits

Japanese opposition leader Ichiro Ozawa resigned on Monday in a move that is likely to improve his party's prospects in a looming election, after a fundraising scandal dampened its hopes for victory. A political stalemate and voter frustrations with Prime
Published 12 May, 2009 12:00am
WHO says 4,694 people infected with H1N1 flu world-wide

WHO says 4,694 people infected with H1N1 flu world-wide

World Health Organisation (WHO) laboratories have confirmed 4,694 infections with the new strain of H1N1 flu, which the United Nations agency said on Monday has killed at least 53 people. Its official tally, which tends to lag national reports but is cons
Published 12 May, 2009 12:00am
Home boy Djokovic triumphs in Belgrade

Home boy Djokovic triumphs in Belgrade

World number three Novak Djokovic won the inaugural ATP Serbia Open claycourt tournament by beating Polish lucky loser Lukasz Kubot 6-3, 7-6 (7/0) in front of his home crowd here on Sunday. It was the top-seeded Serbian's second tournament triumph of the
Published 12 May, 2009 12:00am
Norway, Denmark and Scotland win extra UEFA places

Norway, Denmark and Scotland win extra UEFA places

UEFA on Monday granted Scotland, Denmark and Norway additional berths in next season's Europa League after they topped the 2008-2009 European fair play ranking for clubs and national sides. One additional club from each country will be allowed into the fi
Published 12 May, 2009 12:00am
Malaysia cancels tournament over swine flu

Malaysia cancels tournament over swine flu

Malaysia has cancelled an international Under-23 football competition involving Mexico and Brazil because of swine flu fears, a senior Malaysian official said Monday. The Inter-Continental Cup was held here for the first time last year, when Nigeria beat
Published 12 May, 2009 12:00am
Frustrated Woods says swing, not injury clouding game

Frustrated Woods says swing, not injury clouding game

A frustrated Tiger Woods scotched any notion that injury was clouding his game after he finished a disappointing eighth at the Players Championship on Sunday. Joint second over night, Woods carded a one-over 73 at TPC Sawgrass in a final round marred by w
Published 12 May, 2009 12:00am
Inter close in on title despite draw

Inter close in on title despite draw

Inter Milan closed in on the Serie A title despite being held to a 2-2 draw at lowly Chievo on Sunday after rivals AC Milan failed to take advantage with a 1-1 stalemate against Juventus. Inter, who lead by seven points with three matches left, could have
Published 12 May, 2009 12:00am
PCB summons Asif on Dubai drugs incident

PCB summons Asif on Dubai drugs incident

A Pakistan committee investigating the Dubai detention of Mohammad Asif on charges of possessing illegal drugs ordered the fast bowler Monday to appear before its panel on June 1. The 27-year-old paceman was stopped at Dubai airport on June 1, 2008 found
Published 12 May, 2009 12:00am
Murray already keen to improve new world ranking

Murray already keen to improve new world ranking

Andy Murray is proud of his new world number three ranking, achieved for the first time Monday as the Scot prepares for his start at the Madrid Masters. But the 21-year-old is hoping for more to come and won't be satisfied with a British best as his skyro
Published 12 May, 2009 12:00am
Bayern finally within reach of top

Bayern finally within reach of top

Champions Bayern Munich could move to the top of the Bundesliga for the first time this season when they take on Bayer Leverkusen on Tuesday. Bayern, who axed Juergen Klinsmann in late April and appointed former coach Jupp Heynckes to steer them through t
Published 12 May, 2009 12:00am
UEFA to decide on Euro 2012 sites

UEFA to decide on Euro 2012 sites

UEFA's executive committee will meet on Tuesday and Wednesday in Bucharest to decide on the sites that will be chosen for the 2012 European Championship in Poland and Ukraine. The committee must choose either to approve two sites in Ukraine and four in Po
Published 12 May, 2009 12:00am
Gasquet suspended in cocaine case

Gasquet suspended in cocaine case

French tennis star Richard Gasquet, who tested positive for cocaine during the Miami Masters in March, was provisionally suspended on Monday, the International Tennis Federation (ITF) told AFP. "His provisional suspension begins today," said Dr Stuart Mil
Published 12 May, 2009 12:00am
More turbulence this week amid USDA data

More turbulence this week amid USDA data

More turbulence is seen ahead for Chicago Board of Trade grain markets with the government's updated end-season stocks forecasts to take center stage this week. Traders are edgy ahead of the US Agriculture Department's May supply-and-demand report to be i
Published 12 May, 2009 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 255,468 tonnes of cargo including 189,088 tonnes of import and 66,380 tonnes of export, 5,297 loaded and empty containers (TEUs) during last 24 hours ending at 0700 hours on Monday. The freights comprised of 189,258 tonnes of dry
Published 12 May, 2009 12:00am
Black Sea wheat a growing force in Middle East market

Black Sea wheat a growing force in Middle East market

Black Sea wheat exports to the Middle East are growing, helped by cheap freight rates and a strong dollar despite some concerns about quality, industry experts and traders said on Sunday. The Middle East has in the past tended to turn to big exporters in
Published 12 May, 2009 12:00am
Saudi to boost grain storage, build flour mill

Saudi to boost grain storage, build flour mill

Saudi Arabia plans to build new silos and a flour mill near Mecca and to expand grain storage capacity at its Red Sea port of Jeddah, a Saudi official said on Sunday. Saudi Arabia, which has said it has enough wheat stocks for six months, is facing pressu
Published 12 May, 2009 12:00am
Syria sees good wheat harvest

Syria sees good wheat harvest

Syria expects a good wheat harvest this year and production could reach 3 million to 4 million tonnes, a Syrian official said on Monday. Suleiman al-Nasser, director general of state-owned General Establishment for Cereal Processing and Trade (Hoboob), al
Published 12 May, 2009 12:00am
Morocco seen importing 2.1 million tonnes of wheat

Morocco seen importing 2.1 million tonnes of wheat

Morocco is expected to import about 600,000 tonnes of durum wheat and 1.5 million tonnes of soft milling wheat in 2009, a representative for Moroccan millers said on Monday. Abdellatif Izem, head of the Moroccan Millers Federation, also told Reuters a goo
Published 12 May, 2009 12:00am
Kansas wheat seen average, crop scouts

Kansas wheat seen average, crop scouts

Crop scouts surveying hundreds of wheat fields through Kansas said they found mostly average to above-average yield potential in the top US wheat-producing state, thanks to recent dousings of beneficial rainfall. Crop potential in neighbouring Oklahoma, a
Published 12 May, 2009 12:00am
South Korean won at six-month high

South Korean won at six-month high

The South Korean won hit its strongest in more than six months on Monday as foreign investors kept buying Seoul stocks after better-than-expected US job data that bolstered appetite for riskier assets. The won, however, gave up some of its early gains as
Published 12 May, 2009 12:00am
Asian currencies up

Asian currencies up

The South Korean won led most Asian currencies to multi-month highs versus the dollar on Monday on signs of a global economic recovery, triggering the Thai central bank to intervene to curb the local unit's strength. Signs of improvements in the global ec
Published 12 May, 2009 12:00am
Yuan slips

Yuan slips

The yuan reversed earlier gains to fall slightly against the dollar in the spot and offshore non-deliverable forwards (NDFs) markets late on Monday, with sentiment hurt by poor Chinese economic data. Spot yuan finished at 6.8230 versus the dollar from Fri
Published 12 May, 2009 12:00am
Dollar retreats

Dollar retreats

The dollar fell on Monday, hitting its lowest in seven weeks on the euro and seven months on the Australian dollar, as investors emboldened by slowing US job losses extended diversification into other currencies. The dollar index hit a fresh four-month lo
Published 12 May, 2009 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Monday. 69.02/69.0250 (previous 69.02/69.0250). Call Money Rates: 0.45-10.00 percent (previous 0.25-10.00 percent.
Published 12 May, 2009 12:00am
Kenyan shilling firms

Kenyan shilling firms

Kenya's currency clawed back some ground versus the dollar on Monday on interbank greenback sales, dealers said. The commercial banks quoted the local currency at 77.40/50 per dollar from 78.00/10 at the close of trading on Friday. "Interbank players have
Published 12 May, 2009 12:00am
Australian dollar at seven-month peaks

Australian dollar at seven-month peaks

The Australian dollar stayed strong near 7-month highs on Monday as hopes the worst of the global economic downturn has passed boosted appetite for riskier assets like stocks and high-yielding currencies. Japan's Nikkei share average rose to its highest i
Published 12 May, 2009 12:00am
Taiwan dollar at 2009 closing high

Taiwan dollar at 2009 closing high

The Taiwan dollar ended at its strongest close in 2009 on Monday, rising on fund inflows and denting safe-haven demand for the greenback, but its climb was kept in check by the central bank. The Taiwan dollar rose to an intraday high of T$33.821, but late
Published 12 May, 2009 12:00am
Hong Kong dollar still strong after intervention

Hong Kong dollar still strong after intervention

The Hong Kong dollar hovered at the top of its trading band against the US dollar for most of Monday, prompting the Hong Kong Monetary Authority (HKMA) to step in again to curb its appreciation. Some dealers said the Hong Kong dollar's strength was due in
Published 12 May, 2009 12:00am
Nikkei hits six-month closing high

Nikkei hits six-month closing high

Japan's Nikkei average rose 0.2 percent on Monday to hit a six-month closing high, rebounding from an earlier dip as financials such as Mizuho Financial Group advanced on optimism about the US banking system and the economy. But Toyota Motor Corp, the wor
Published 12 May, 2009 12:00am
Swiss franc consolidates after big rise

Swiss franc consolidates after big rise

The Swiss franc pulled back slightly against the dollar on Monday, paring some of Friday's substantial gains against the greenback, and was marginally weaker against the euro. The Swiss franc has gained ground versus the dollar in recent sessions as inves
Published 12 May, 2009 12:00am
Thai stocks close 1.41 percent up

Thai stocks close 1.41 percent up

Thai share prices closed 1.41 percent higher on Monday, lifted by US markets amid hopes for a recovery in the world economy, dealers said. The Stock Exchange of Thailand (SET) composite index gained 7.46 points to close at 535.18, while the blue chip SET-
Published 12 May, 2009 12:00am
China's bonds tumble

China's bonds tumble

China's bill and bond yields mostly fell on Monday after a deputy central bank governor said China should maintain its current monetary policy, suggesting a shift to quantitative tightening is unlikely in the near term. Su Ning told a financial conference
Published 12 May, 2009 12:00am
China's bonds tumble

China's bonds tumble

China's bill and bond yields mostly fell on Monday after a deputy central bank governor said China should maintain its current monetary policy, suggesting a shift to quantitative tightening is unlikely in the near term. Su Ning told a financial conference
Published 12 May, 2009 12:00am
Chinese stocks slip

Chinese stocks slip

Chinese stocks fell 1.75 percent on Monday in active trade, retreating from a nine-month intraday high and snapping a seven-day winning streak after economic data and a central banker's comments cast doubt on the economic recovery. China's first confirmed
Published 12 May, 2009 12:00am
Jakarta shares sag

Jakarta shares sag

Indonesian shares ended 1.71 percent lower on Monday on profit-taking after recent sharp gains, weighed by a weak rupiah and falls in several Asian markets, dealers said. The Jakarta Composite Index fell 31.79 points to 1,830.74 in heavy volume. Car distr
Published 12 May, 2009 12:00am
Singapore shares decline

Singapore shares decline

Singapore shares closed 3.22 percent lower on Monday as investors took profits from a recent market rally, analysts said. The blue chip Straits Times Index (STI) shed 72.11 points to 2,166.10 on volume of 4.04 billion shares worth 2.41 billion Singapore d
Published 12 May, 2009 12:00am
Seoul shares up

Seoul shares up

Seoul shares ended slightly firmer on Monday with gains by energy and utility issues such as KEPCO and GS Holdings outweighing losses by key technology and auto exporters. The Korea Composite Stock Price Index (KOSPI) ended up 0.21 percent at 1,415.16 poi
Published 12 May, 2009 12:00am
Australian shares fall

Australian shares fall

Australian share prices closed down 0.40 percent on Monday as profit-takers moved in after a strong start to the session, dealers said. The benchmark S&P/ASX200 ended 15.7 points lower at 3,926 after hitting a high of 3,960, while the broader All Ordinari
Published 12 May, 2009 12:00am
JGBs inch down

JGBs inch down

Japanese government bonds inched down on Monday as dealers sold futures to hedge against a debt auction the following day, while resilience in global stock markets prompted investors to shift money to equities from bonds. The Ministry of Finance will sell
Published 12 May, 2009 12:00am
Malaysian shares dip

Malaysian shares dip

Malaysian shares fell 0.12 percent on Monday due to profit-taking amid a lack of fresh leads, dealers said. Dealers said profit-taking weighed on blue chips and index-linked issues. The Kuala Lumpur Composite Index lost 1.28 points to close at 1,025.50. T
Published 12 May, 2009 12:00am
JGBs inch down

JGBs inch down

Japanese government bonds inched down on Monday as dealers sold futures to hedge against a debt auction the following day, while resilience in global stock markets prompted investors to shift money to equities from bonds. The Ministry of Finance will sell
Published 12 May, 2009 12:00am
Taiwan stocks finish at eight-month high

Taiwan stocks finish at eight-month high

Taiwan stocks rose 0.97 percent on Monday to a fresh eight-month closing high, led by property and financial shares, on hopes of an influx of Chinese investment and a boost from a stronger Taiwan dollar. The main TAIEX share index closed 63.63 points high
Published 12 May, 2009 12:00am
Hong Kong shares close 1.74 percent down

Hong Kong shares close 1.74 percent down

Hong Kong share prices closed 1.74 percent lower on Monday, as profit-taking in financial firms finally ended a seven-session upward surge, dealers said. The benchmark Hang Seng Index closed down 301.92 points at 17,087.95, off an intraday low of 17,032.4
Published 12 May, 2009 12:00am
New Zealand shares fall

New Zealand shares fall

New Zealand share prices closed 1.53 percent lower on Monday, giving up strong early gains when the Australian market lost ground, dealers said. The benchmark NZX-50 index fell 43.92 points to 2,829.22 - after rising 45 points to a six-and-a-half month hi
Published 12 May, 2009 12:00am
Philippines shares surge

Philippines shares surge

Philippines shares closed 1.05 percent higher on Monday, lifted by an upturn on Wall Street, dealers said. The composite index rose 23.57 points to 2,265.55 while the all-shares index gained 0.92 percent to 1,456.38. There were 88 gainers against 25 loser
Published 12 May, 2009 12:00am
French industrial output slumps 1.4 percent

French industrial output slumps 1.4 percent

French industrial output slumped by 1.4 percent in March on a monthly basis, after dropping 0.9 percent in February, the state statistics agency said on Monday. Within the overall figure, manufactured output fell by 1.1 percent on a monthly basis, accordi
Published 12 May, 2009 12:00am
HSBC says profits rise, sees 'robust' growth in China

HSBC says profits rise, sees 'robust' growth in China

Global banking giant HSBC said on Monday that profits were rising strongly on the basis of first-quarter data and it saw "robust" growth in China and India, while remaining cautious for the year. First-quarter pre-tax profits were "well ahead" of the figu
Published 12 May, 2009 12:00am
HSBC says profits rise, sees 'robust' growth in China

HSBC says profits rise, sees 'robust' growth in China

Global banking giant HSBC said on Monday that profits were rising strongly on the basis of first-quarter data and it saw "robust" growth in China and India, while remaining cautious for the year. First-quarter pre-tax profits were "well ahead" of the figu
Published 12 May, 2009 12:00am
AstraZeneca drug beats Plavix in test, shares leap

AstraZeneca drug beats Plavix in test, shares leap

AstraZeneca Plc's experimental heart drug Brilinta has beaten Sanofi-Aventis SA and Bristol-Myers Squibb Co's blockbuster Plavix in a pivotal clinical trial, lifting its shares sharply.
Published 12 May, 2009 12:00am
AstraZeneca drug beats Plavix in test, shares leap

AstraZeneca drug beats Plavix in test, shares leap

AstraZeneca Plc's experimental heart drug Brilinta has beaten Sanofi-Aventis SA and Bristol-Myers Squibb Co's blockbuster Plavix in a pivotal clinical trial, lifting its shares sharply.
Published 12 May, 2009 12:00am
Santos to raise up to $2.3 billion to fund LNG plans

Santos to raise up to $2.3 billion to fund LNG plans

Australian oil and gas producer Santos Ltd is raising up to A$3 billion ($2.3 billion) in a deeply discounted rights offer to reduce debt and help fund its portfolio of liquefied natural gas (LNG) projects. Santos, the country's third-largest oil and gas
Published 12 May, 2009 12:00am
Fuel traders put faith in UAE as fourth trading hub

Fuel traders put faith in UAE as fourth trading hub

The United Arab Emirates is well on its way to becoming the world's fourth major fuel trading hub, making the region as important a swing factor in gasoline and diesel markets as it has long been for crude.
Published 12 May, 2009 12:00am
China to promote moderate growth in money supply, loans

China to promote moderate growth in money supply, loans

China will flexibly use interest rates and reserve ratios, as well as other tools, to promote moderate growth of money supply and lending, deputy central bank governor Su Ning said on Monday. He told a financial conference in Shanghai that it was too earl
Published 12 May, 2009 12:00am
'India April car sales up but sector still shaky'

'India April car sales up but sector still shaky'

Indian car sales grew for a third straight month in April, according to data Monday, but an industry body said it was too soon to say the sector was on the road to recovery. Sales rose 4.2 percent to 102,899 units for April as car buying continued to pick
Published 12 May, 2009 12:00am
Suzuki Motor profits down by two-thirds

Suzuki Motor profits down by two-thirds

Japan's Suzuki Motor Corp said Monday that its net profit slumped by about two-thirds in the year to March but it managed to stay in the black due to relatively robust demand in India. The manufacturer of small cars and motorcycles suffered a 65.8 percent
Published 12 May, 2009 12:00am
Suzuki Motor profits down by two-thirds

Suzuki Motor profits down by two-thirds

Japan's Suzuki Motor Corp said Monday that its net profit slumped by about two-thirds in the year to March but it managed to stay in the black due to relatively robust demand in India. The manufacturer of small cars and motorcycles suffered a 65.8 percent
Published 12 May, 2009 12:00am
ICAP consortium bids for LCH.Clearnet

ICAP consortium bids for LCH.Clearnet

A consortium of 11 banks and interdealer broker ICAP has bid 813 million euros ($1.07 billion) for European independent clearing house LCH.Clearnet, a source close to the consortium said on Monday. The bid, which was submitted Friday, came as the US Depos
Published 12 May, 2009 12:00am
Fazl opposes military operation

Fazl opposes military operation

In the first sitting of 13th session of the National Assembly on Monday, the leader of the opposition Chaudhry Nisar Ali Khan, supported the government for the military action in Swat, Dir and Malakand districts with the concern that his party was not tak
Published 12 May, 2009 12:00am
Honda Insight first hybrid to top Japan auto sales

Honda Insight first hybrid to top Japan auto sales

Honda's Insight, billed as the cheapest gas-electric hybrid on the market, ranked as the top-selling vehicle in Japan for April - the first time a hybrid has clinched that spot. Honda Motor Co has pitched the Insight as an affordable hybrid though such ve
Published 12 May, 2009 12:00am
Fazl opposes military operation

Fazl opposes military operation

In the first sitting of 13th session of the National Assembly on Monday, the leader of the opposition Chaudhry Nisar Ali Khan, supported the government for the military action in Swat, Dir and Malakand districts with the concern that his party was not tak
Published 12 May, 2009 12:00am
Iran moves mobile licence to Zain from Etisalat

Iran moves mobile licence to Zain from Etisalat

Iran has given a consortium led by Kuwait's Mobile Telecommunications Co (Zain) the country's third mobile licence, stripping it from Emirates Telecommunications Corp (Etisalat). A spokesman for Iran's Communications Regulatory Authority told the official
Published 12 May, 2009 12:00am
Parco's ex-refinery pricing formula may be extended

Parco's ex-refinery pricing formula may be extended

The government may extend the ex-refinery pricing formula for Pak Arab Refinery Limited (Parco), based on guaranteed minimum 25 percent rate of return on net equity. Sources said that the tenure of ex-oil refinery pricing formula, based on 25 percent rate
Published 12 May, 2009 12:00am
AIG sells Tokyo headquarters to Nippon Life

AIG sells Tokyo headquarters to Nippon Life

Bailed-out US insurance giant AIG on Monday said it will sell its prime Japanese headquarters in Tokyo to Nippon Life, Japan's largest insurer, for 1.2 billion dollars in cash. American International Group, which is trying to sell off assets to repay a ma
Published 12 May, 2009 12:00am
Parco's ex-refinery pricing formula may be extended

Parco's ex-refinery pricing formula may be extended

The government may extend the ex-refinery pricing formula for Pak Arab Refinery Limited (Parco), based on guaranteed minimum 25 percent rate of return on net equity. Sources said that the tenure of ex-oil refinery pricing formula, based on 25 percent rate
Published 12 May, 2009 12:00am
Growth improves, central bank exit strategies key: Trichet

Growth improves, central bank exit strategies key: Trichet

The global economy is about to turn the corner as growth has already picked up in some countries, and central banks should have exit strategies to avoid inflation risks, leading central bankers said on Monday. After chairing regular talks on the global ec
Published 12 May, 2009 12:00am
CDWP clears 11 projects worth Rs 41.6 billion

CDWP clears 11 projects worth Rs 41.6 billion

The Central Development Working Party (CDWP) of the Planning Commission on Monday cleared 11 development projects, costing Rs 41.6 billion. The meeting was presided over by Planning Commission deputy chairman Aseff Ahmed Ali. The CDWP conceptually cleared
Published 12 May, 2009 12:00am
Uzbekistan and South Korea ink energy, transit accords

Uzbekistan and South Korea ink energy, transit accords

Uzbek and South Korean officials on Monday signed agreements on gas and air transport co-operation as the countries' presidents hailed the nations' ties. South Korean President Lee Myung-Bak noted that about 180,000 ethnic Koreans live in Uzbekistan and t
Published 12 May, 2009 12:00am
Parco''s ex-refinery pricing formula may be extended

Parco''s ex-refinery pricing formula may be extended

The government may extend the ex-refinery pricing formula for Pak Arab Refinery Limited (Parco), based on guaranteed minimum 25 percent rate of return on net equity. Sources said that the tenure of ex-oil refinery pricing formula, based on 25 percent rate
Published 12 May, 2009 12:00am
General Electric makes large donation to US Shanghai Expo efforts

General Electric makes large donation to US Shanghai Expo efforts

General Electric has given US efforts to raise the 60 million dollars needed to ensure a national pavilion at the 2010 Shanghai World Expo a massive boost, organisers said Monday. Fundraising problems have meant the United States is one of only three coun
Published 12 May, 2009 12:00am
July-March period: LSM sector growth depicts eight percent decline

July-March period: LSM sector growth depicts eight percent decline

Large-ccale manufacturing (LSM) sector growth posted a broad-based decline of 8 percent during nine months of the current fiscal year 2008-09 as compared to 6 percent rise during the same period of last fiscal year. Economists said that greater energy cri
Published 12 May, 2009 12:00am
China prices fall for third month

China prices fall for third month

China fell deeper into deflation in April, but a tidal wave of money coursed through the economy on the back of an earlier surge in bank lending and cemented expectations that prices would be rising again before the end of the year. Many economists said m
Published 12 May, 2009 12:00am
July-March period: LSM sector growth depicts eight percent decline

July-March period: LSM sector growth depicts eight percent decline

Large-ccale manufacturing (LSM) sector growth posted a broad-based decline of 8 percent during nine months of the current fiscal year 2008-09 as compared to 6 percent rise during the same period of last fiscal year. Economists said that greater energy cri
Published 12 May, 2009 12:00am
Britain and China agree to allow companies to list

Britain and China agree to allow companies to list

Britain and China struck an accord on Monday allowing the two countries' companies to list on each other's stock exchanges, officials said. The agreement was reached by Britain's finance minister Alistair Darling and Chinese deputy premier Wang Qishan, th
Published 12 May, 2009 12:00am
July-March period: LSM sector growth depicts eight percent decline

July-March period: LSM sector growth depicts eight percent decline

Large-ccale manufacturing (LSM) sector growth posted a broad-based decline of 8 percent during nine months of the current fiscal year 2008-09 as compared to 6 percent rise during the same period of last fiscal year. Economists said that greater energy cri
Published 12 May, 2009 12:00am
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