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Nov 15, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2009-05-20
Coffee rises in London

Coffee rises in London

Arabica coffee futures on ICE rose to the highest levels in more than seven months on Tuesday boosted by fund buying while sugar prices eased as producer selling emerged following this week's run-up, dealers said.
Published 20 May, 2009 12:00am
Gold firms in Europe

Gold firms in Europe

Gold was firmer in Europe on Tuesday as an unexpected fall in US housing starts to record lows in April sharpened risk aversion, supporting the metal's appeal as a safe store of value. Weakness in the dollar is also underpinning prices.
Published 20 May, 2009 12:00am
Oil hits six-month topon spate of US refinery problems

Oil hits six-month topon spate of US refinery problems

Oil prices rose on Tuesday, touching a six-month high over $60 a barrel as a flurry of US refinery problems stoked supply fears leading into peak summer driving season. US crude settled 62 cents higher at $59.65 a barrel, after earlier reaching $60.48 a b
Published 20 May, 2009 12:00am
Copper pares gains

Copper pares gains

Copper trimmed gains after jumping more than 3 percent on Tuesday as an unexpected fall in US housing data dampened stock market induced optimism that the worst was over in the global economic downturn. Copper for three-months delivery on the London Metal
Published 20 May, 2009 12:00am
Indian sugar futures fall

Indian sugar futures fall

Indian sugar futures extended the previous session's losses on Tuesday, depressed by sluggish spot demand and hopes of higher imports due to a strong rupee, analysts said. India has allowed imports of raw and white sugar with some restrictions to bridge t
Published 20 May, 2009 12:00am
General Kayani briefs Nato commanders

General Kayani briefs Nato commanders

Pakistan's military chief, General Ashfaq Parvez Kayani, briefed Nato's top officers on Tuesday about the fighting in north-western Pakistan, where the army is conducting a major offensive against Taliban militants, officials said.
Published 20 May, 2009 12:00am
General Kayani briefs Nato commanders

General Kayani briefs Nato commanders

Pakistan's military chief, General Ashfaq Parvez Kayani, briefed Nato's top officers on Tuesday about the fighting in north-western Pakistan, where the army is conducting a major offensive against Taliban militants, officials said.
Published 20 May, 2009 12:00am
Britain's Commons speaker quits

Britain's Commons speaker quits

The speaker of the House of Commons resigned Tuesday over an MPs' expenses scandal which has plunged Britain into its worst political crisis for years and outraged voters. Michael Martin became the first person to quit the prestigious post since 1695 afte
Published 20 May, 2009 12:00am
Britain's Commons speaker quits

Britain's Commons speaker quits

The speaker of the House of Commons resigned Tuesday over an MPs' expenses scandal which has plunged Britain into its worst political crisis for years and outraged voters. Michael Martin became the first person to quit the prestigious post since 1695 afte
Published 20 May, 2009 12:00am
Obama unveils 'historic' car efficiency standards

Obama unveils 'historic' car efficiency standards

President Barack Obama Tuesday unveiled "historic" efficiency and greenhouse gas standards for US cars, in a rare moment of unity between auto firms and environmentalists on climate change. "For the first time in history, we have set in motion a national
Published 20 May, 2009 12:00am
Obama unveils 'historic' car efficiency standards

Obama unveils 'historic' car efficiency standards

President Barack Obama Tuesday unveiled "historic" efficiency and greenhouse gas standards for US cars, in a rare moment of unity between auto firms and environmentalists on climate change. "For the first time in history, we have set in motion a national
Published 20 May, 2009 12:00am
Obama unveils ''historic'' car efficiency standards

Obama unveils ''historic'' car efficiency standards

President Barack Obama Tuesday unveiled "historic" efficiency and greenhouse gas standards for US cars, in a rare moment of unity between auto firms and environmentalists on climate change. "For the first time in history, we have set in motion a national
Published 20 May, 2009 12:00am
Security forces locked in fierce street battle with militants

Security forces locked in fierce street battle with militants

Militants in Pakistan are getting reinforcement from Afghan Taliban and extremists from different countries bordering Afghanistan are taking part in insurgency in Swat and other parts of Malakand, besides Federally Administered Tribal Areas (Fata), said I
Published 20 May, 2009 12:00am
Security forces locked in fierce street battle with militants

Security forces locked in fierce street battle with militants

Militants in Pakistan are getting reinforcement from Afghan Taliban and extremists from different countries bordering Afghanistan are taking part in insurgency in Swat and other parts of Malakand, besides Federally Administered Tribal Areas (Fata), said I
Published 20 May, 2009 12:00am
UAE exploits Asian workers on 'culture' island: HRW

UAE exploits Asian workers on 'culture' island: HRW

Human Rights Watch accused the United Arab Emirates on Tuesday of exploiting thousands of Asian workers hired to build museums and art galleries on a showcase island. Rights groups have criticised conditions in which labourers work in the UAE, a Gulf Arab
Published 20 May, 2009 12:00am
UAE exploits Asian workers on 'culture' island: HRW

UAE exploits Asian workers on 'culture' island: HRW

Human Rights Watch accused the United Arab Emirates on Tuesday of exploiting thousands of Asian workers hired to build museums and art galleries on a showcase island. Rights groups have criticised conditions in which labourers work in the UAE, a Gulf Arab
Published 20 May, 2009 12:00am
Chinese team to provide 30 CNG buses in first phase

Chinese team to provide 30 CNG buses in first phase

The Chinese delegation headed by Jamshaid Ullah, General Manager, Rimedyne Refrigeration System Co Ltd, committed to export 30 CNG buses in the first phase for Islamabad, while CDA informed that they need 500 CNG buses for Islamabad which is environment f
Published 20 May, 2009 12:00am
Samjahuta to run with Indian rake from next month

Samjahuta to run with Indian rake from next month

Samjahuta Express (401 Up/402 Down) operating between Pakistan and India will run with Indian Rake from June 4 to December 3, 2009. According to Railways sources here, currently the train is running with Pakistani rake. After completion of six months with
Published 20 May, 2009 12:00am
IPI gas pipeline project: Pakistan and Iran may sign GSPA soon

IPI gas pipeline project: Pakistan and Iran may sign GSPA soon

Pakistan and Iran are expected to sign gas sales purchase agreement (GSPA) on Iran-Pakistan-India (IPI) gas pipeline project after conclusion of talks to be held in Tehran on May 23-25. According to the sources, a delegation, led by Advisor to Prime Minis
Published 20 May, 2009 12:00am
City Council condemns land mafia, attack on Ismail Brohi

City Council condemns land mafia, attack on Ismail Brohi

The City Council through passing a unanimous resolution on Tuesday expressed its great concern over the growing influence of land mafia in the city which is busy in occupying the government lands and requested the government to stop the land grabbers.
Published 20 May, 2009 12:00am
UHS sends mobile hospitals for Swat, Dir DPs

UHS sends mobile hospitals for Swat, Dir DPs

University of Health Sciences (UHS) has sent two mobile hospitals with 16 doctors, besides nurses, to Mardan, Swabi, Malakand and Swat. The mobile hospitals will provide medical cover to the displaced persons (DPs) in the relief camps.
Published 20 May, 2009 12:00am
UK's top share index rises

UK's top share index rises

Britain's top share index closed 0.8 percent firmer on Tuesday, pushed up by financials and miners, though gains were limited by figures that showed new US housing starts fell to record lows. The FTSE 100 closed 0.8 percent or 35.80 points higher at 4,482
Published 20 May, 2009 12:00am
Malaysian shares higher

Malaysian shares higher

Malaysian shares ended up 1.13 percent on Tuesday on buying activity in key heavyweights and secondliners, dealers said. The Kuala Lumpur Composite Index climbed 11.48 points to 1,023.49 with a volume of 1.754 billion shares worth 1.60 billion ringgit (45
Published 20 May, 2009 12:00am
Indian shares up in choppy trade

Indian shares up in choppy trade

Indian shares rose 0.12 percent on Tuesday in volatile trade the day after posting a record single-day gain following the Congress party-led alliance's election win, dealers said. The benchmark 30-share Sensex closed 17.82 points higher at 14,302.03, retr
Published 20 May, 2009 12:00am
European credit derivatives tightened

European credit derivatives tightened

European credit derivatives tightened on Tuesday, with banks leading the way on reports some US banks may repay bailout money and the UK is talking with investors about selling stakes in part-nationalised banks. By 1533 GMT, the investment-grade Markit iT
Published 20 May, 2009 12:00am
European credit derivatives tightened

European credit derivatives tightened

European credit derivatives tightened on Tuesday, with banks leading the way on reports some US banks may repay bailout money and the UK is talking with investors about selling stakes in part-nationalised banks. By 1533 GMT, the investment-grade Markit iT
Published 20 May, 2009 12:00am
Tuesday's early afternoon trade: Wall Street moves higher

Tuesday's early afternoon trade: Wall Street moves higher

US stocks moved higher on Tuesday as investors bet that April's slide in US housing starts and permits signalled that the housing market may soon stabilise as the supply of new homes dwindles. International Business Machines, up 1.2 percent to $105.79, an
Published 20 May, 2009 12:00am
Asian bond spreads narrow

Asian bond spreads narrow

Asian bond spreads narrowed on Tuesday as a rally in US stocks overnight lifted risk appetite, but gains were capped ahead of a series of new issues. Wall Street shares gained after US home improvement retailer Lowe's posted better-than-forecast results t
Published 20 May, 2009 12:00am
Asian bond spreads narrow

Asian bond spreads narrow

Asian bond spreads narrowed on Tuesday as a rally in US stocks overnight lifted risk appetite, but gains were capped ahead of a series of new issues. Wall Street shares gained after US home improvement retailer Lowe's posted better-than-forecast results t
Published 20 May, 2009 12:00am
Indian rupee trims gains

Indian rupee trims gains

The Indian rupee extended its post-election rally on Tuesday but ended off a five-month high hit in early trade due to suspected central bank intervention to stem its rise and a flat close in the stock market. The partially convertible rupee ended at 47.7
Published 20 May, 2009 12:00am
Dollar falls broadly in London

Dollar falls broadly in London

The dollar fell broadly on Tuesday, dented by rising stocks and renewed optimism about the global economy which diminished demand for safer assets and bolstered perceived higher risk currencies. The euro extended gains versus the dollar after a surprising
Published 20 May, 2009 12:00am
Dollar Libor/OIS spread tightest in over one year

Dollar Libor/OIS spread tightest in over one year

The cost of borrowing dollars between banks plumbed lifetime lows on Tuesday and a key credit spread compressed to its tightest in over a year, reflecting returning confidence in money markets nursed by central banks.
Published 20 May, 2009 12:00am
MI5 lacked resources to stop London 7/7 bombings

MI5 lacked resources to stop London 7/7 bombings

Britain's security services could not have prevented the 2005 London suicide attacks because they lacked the resources to investigate the plot's ringleader properly, a report by senior parliamentarians said on Tuesday. Indeed the domestic spy agency MI5 c
Published 20 May, 2009 12:00am
Sterling rises versus majors

Sterling rises versus majors

Sterling rose against other major currencies on Tuesday, hitting its highest levels this year against the dollar, as pessimism about Britain's economy and financial sector eased. A rise in UK share prices buoyed the pound, with sterling climbing as high a
Published 20 May, 2009 12:00am
US promoting terrorism, says Khamenei

US promoting terrorism, says Khamenei

Iran's leading authority accused the United States on Tuesday of promoting terrorism in border areas and using arms and money against the Islamic state, in his latest verbal attack on Tehran's arch enemy. Supreme Leader Ayatollah Ali Khamenei's comments i
Published 20 May, 2009 12:00am
Heavy defeat may leave India's BJP in the wilderness

Heavy defeat may leave India's BJP in the wilderness

India's opposition Bharatiya Janata Party faces an uncertain future after a heavy election defeat, as its mix of Hindu-revivalism and promise of strong governance failed to convince its traditional middle-class base. The BJP could not capitalise on proble
Published 20 May, 2009 12:00am
Russia, US hold talks on cutting nuclear weapons

Russia, US hold talks on cutting nuclear weapons

The United States and Russia on Tuesday held talks aimed at cutting stockpiles of nuclear weapons, a move that could herald a thaw in relations between the former Cold War foes. US President Barack Obama and Russian President Dmitry Medvedev last month ag
Published 20 May, 2009 12:00am
China wants to work with EU, but warns over Dalai Lama

China wants to work with EU, but warns over Dalai Lama

Premier Wen Jiabao will attend a summit with Europe this week to show Beijing's desire to work with the EU, China said Tuesday, while warning European nations against welcoming the Dalai Lama. Wen will attend the China-EU summit in Prague Wednesday, meeti
Published 20 May, 2009 12:00am
UN chief announces Sri Lanka trip

UN chief announces Sri Lanka trip

UN Secretary General Ban Ki-moon said he will visit Sri Lanka on Friday and called for immediate progress on reconciliation following the government's declaration of victory over Tamil Tiger rebels. "We urgently need to treat the wounds of a war that has
Published 20 May, 2009 12:00am
Angry French workers briefly black-out Cannes

Angry French workers briefly black-out Cannes

Some 300 angry French electricity and gas workers briefly blacked out theatres at the Cannes film festival Tuesday during a protest march through the streets of the glitzy Riviera town. Squads of riot police kept demonstrators off the seaside Croisette bo
Published 20 May, 2009 12:00am
Asean says Suu Kyi trial a 'grave concern'

Asean says Suu Kyi trial a 'grave concern'

Myanmar's Southeast Asian neighbours expressed "grave concern" on Tuesday at the trial of democracy icon Aung San Suu Kyi, but the chair of their regional group, Thailand, ruled out sanctions. A day after European Union ministers said they hoped to cajole
Published 20 May, 2009 12:00am
Israeli settlers reject Obama call to halt building

Israeli settlers reject Obama call to halt building

Jewish settler leaders on Tuesday shrugged off US President Barack Obama's call for Israel to halt settlement building in the occupied West Bank, saying Palestinians needed to "halt terror first". Dani Dayan, chairman of the West Bank settlers' umbrella o
Published 20 May, 2009 12:00am
New Palestinian government sworn in

New Palestinian government sworn in

A new Palestinian government, again headed by Western-backed Salam Fayyad, was sworn in on Tuesday. The new cabinet took the oath of office at the Palestinian Authority (PA) headquarters in the West Bank town of Ramallah. Ten of the 23 ministers are Fatah
Published 20 May, 2009 12:00am
US-Europe missile defence won't work: think tank

US-Europe missile defence won't work: think tank

A planned US anti-missile system, hotly opposed by Russia, to defend Europe against the threat of missile attack from Iran would not work, a new study by a US-based think tank said Tuesday. The study by the New York-based EastWest Institute found the prop
Published 20 May, 2009 12:00am
Nepal's Maoists block government formation

Nepal's Maoists block government formation

Maoist lawmakers in Nepal forced the adjournment of parliament for a second day Tuesday, blocking a multi-party bid to form a new government and resolve the country's political crisis. Shouting slogans against the president, the MPs stormed the well of th
Published 20 May, 2009 12:00am
Pentagon says Guantanamo closing on track

Pentagon says Guantanamo closing on track

The US Defence Department says it still expects the prison at Guantanamo Bay to be closed by January 2010 as President Barack Obama has ordered. Republicans in Congress contend the prison should remain open until there are solid plans for where to send th
Published 20 May, 2009 12:00am
Atlantis astronauts release Hubble Space Telescope

Atlantis astronauts release Hubble Space Telescope

US astronauts aboard the shuttle Atlantis released the Hubble Space Telescope on Tuesday, after the US space agency's final mission to repair and upgrade the orbiting observatory. Astronauts released the telescope at 1257 GMT, sending Hubble "back on its
Published 20 May, 2009 12:00am
Anti-piracy body backs off on maritime force

Anti-piracy body backs off on maritime force

An international piracy conference on Tuesday backed off tough proposals calling for an international naval taskforce to be set up under UN auspices to fight Somali pirates after members disagreed over implementation. The measure was aimed at fighting a s
Published 20 May, 2009 12:00am
Islamic extremism a threat in Germany, far-right crime on the rise

Islamic extremism a threat in Germany, far-right crime on the rise

German Interior Minister Wolfgang Schaeuble warned Tuesday that Islamic extremism was a real threat to Germany, as the government published its annual report of the nation's domestic intelligence service. "We have not moved out of the sights of Islamists
Published 20 May, 2009 12:00am
Almost 3,000 troops held for Bangladesh mutiny

Almost 3,000 troops held for Bangladesh mutiny

Police in Bangladesh are holding 2,971 soldiers in custody for staging a mutiny at a military base in the capital three months ago in which dozens of officers were killed, a top official said Tuesday. The revolt raised fears for Prime Minister Sheikh Hasi
Published 20 May, 2009 12:00am
Self-regulation to blame for crisis: Saudi central bank head

Self-regulation to blame for crisis: Saudi central bank head

Saudi central bank chief Mohammad al-Jasser on Tuesday blamed an ideology of self-regulation in the banking sector for the global economic crisis and called for comprehensive policing of banks. "The current crisis has shown beyond any doubt that self-regu
Published 20 May, 2009 12:00am
French police raid banks in investor probe

French police raid banks in investor probe

French police raided the offices of bank Natixis and parents Banques Populaires and Caisses d'Epargne early Tuesday as part of a probe begun last week following complaints by retail investors, a police source said. Mutual banks Banques Populaires and Cais
Published 20 May, 2009 12:00am
Gift of car tests Zuma government in South Africa

Gift of car tests Zuma government in South Africa

South Africa's transport minister faced calls on Tuesday to return a luxury car he was given by contractors, in what has become a test of new President Jacob Zuma's promises to run a clean government. Zuma, sworn in 10 days ago, is under close scrutiny be
Published 20 May, 2009 12:00am
Afghanistan says no plan to put ex-envoy in charge

Afghanistan says no plan to put ex-envoy in charge

Afghan president Hamid Karzai has no plan to install former US ambassador Zalmay Khalilzad as "chief executive" of his country, a spokesman said on Tuesday, denying a report in the New York Times. The US newspaper, citing unidentified US and Afghan offici
Published 20 May, 2009 12:00am
Biden seeks to bolster still divided Bosnia

Biden seeks to bolster still divided Bosnia

US Vice President Joe Biden arrived in Bosnia on Tuesday hoping to bolster a country still plagued by instability and ethnic division 14 years after the end of Europe's worst conflict since World War Two. The United States brokered the 1995 peace deal tha
Published 20 May, 2009 12:00am
Netanyahu tells US lawmakers Iran a threat

Netanyahu tells US lawmakers Iran a threat

Israeli Prime Minister Benjamin Netanyahu met Tuesday with lawmakers as he pressed his case that dealing with the threat from Iran and its nuclear program was essential to the Mideast peace process. Winding up a three-day trip after talks with President B
Published 20 May, 2009 12:00am
China brushes aside Zhao's Tiananmen memoirs

China brushes aside Zhao's Tiananmen memoirs

A Chinese government spokesman on Tuesday brushed aside questions about a top official purged for opposing the armed crackdown on pro-democracy protesters in 1989, saying the official verdict on the demonstrations still stood. Zhao Ziyang, who died in 200
Published 20 May, 2009 12:00am
US banks to lose billions over commercial property

US banks to lose billions over commercial property

Commercial real-estate loans could bring losses of 100 billion dollars at 940 small and midsized US banks by the end of 2010, according to a study published Tuesday by the Wall Street Journal. In all, these loans funding the construction of shopping malls
Published 20 May, 2009 12:00am
Bill Clinton to be UN special envoy to Haiti

Bill Clinton to be UN special envoy to Haiti

US ex-president Bill Clinton is to be named UN special envoy to Haiti, a UN official said Monday, confirming a report carried by The Miami Herald daily. The official, who spoke on condition of anonymity, said the formal announcement would be made at UN he
Published 20 May, 2009 12:00am
International grind getting to Gayle

International grind getting to Gayle

West Indies captain Chris Gayle admitted the volume of international cricket his side were being asked to play was starting to get to him following their Test series humbling by England. The West Indies were thrashed by an innings and 83 runs at the River
Published 20 May, 2009 12:00am
Nadal seals spot for ATP season finale in London

Nadal seals spot for ATP season finale in London

World number one Rafael Nadal has booked a place in the end-of-season ATP World Tour finals being staged in London for the first time, organisers said on Tuesday. Nadal, the Australian Open, French Open and Wimbledon champion, will be joined at the Novemb
Published 20 May, 2009 12:00am
Shakhtar and Werder braced for tilt at immortality

Shakhtar and Werder braced for tilt at immortality

History beckons for the winners of the UEFA Cup final between Germany's Werder Bremen and Shakhtar Donetsk of Ukraine in Istanbul on Wednesday night. Both sides are appearing in the competition's final for the first time, with Shakhtar bidding to become t
Published 20 May, 2009 12:00am
Wapda's good display at Kathmandu hailed

Wapda's good display at Kathmandu hailed

Pakistan Football Federation (PFF) President Faisal Saleh Hayat has congratulated Pakistan Wapda football team for their stubborn, committed and high-spirited display in Group-A of 5th AFC President's Cup Qualifier 2009. Undefeated Pakistan Wapda put up h
Published 20 May, 2009 12:00am
Ijaz Ahmed freed on bail

Ijaz Ahmed freed on bail

Former star Pakistan batsman Ijaz Ahmed was freed on bail on Tuesday ahead of his trial on fraud charges for allegedly giving a client bad cheques worth over one million dollars. Ahmed said he was relieved to get bail after a six-week spell in jail. "We w
Published 20 May, 2009 12:00am
Rashid excels as Karachi Afroze clinch seniors cricket cup title

Rashid excels as Karachi Afroze clinch seniors cricket cup title

Former Pakistani captain Rashid Latif put up excellent all-round performance, as Sajid Ali-led Karachi Afroze annexed the 11th National Seniors Cricket Cup title on Tuesday. Karachi Afroze repaired early set back to beat Lahore Whites by 6 wickets at the
Published 20 May, 2009 12:00am
Zong XI beat Mobilink XI

Zong XI beat Mobilink XI

In a fascinating display of breathtaking cricket, Zong XI defeated Mobilink XI by two wickets at the Gymkhana Cricket Ground, Said Pur Village here, said a press released issued on Tuesday. Mobilink won the toss and batting first reached 253 in their allo
Published 20 May, 2009 12:00am
Asian currencies: Indian rupee hits five-month high

Asian currencies: Indian rupee hits five-month high

The Indian rupee hit a five-month high on Tuesday after the decisive win for the ruling coalition in national elections, while most Asian currencies rose as hopes of a global economic recovery boosted risk appetite. The world's top policy makers offered t
Published 20 May, 2009 12:00am
South Africa airline increases flights for IPL fans

South Africa airline increases flights for IPL fans

South Africa's national carrier said Tuesday it will increase flights between Johannesburg and Mumbai to ferry cricket fans ahead of final Indian Premier League (IPL) matches this weekend. "This comes as a result of an increase in demand for seats from sp
Published 20 May, 2009 12:00am
Australian dollar holds ground

Australian dollar holds ground

The Australian dollar held ground above 76 US cents on Tuesday after comments from the central bank chief affirmed expectations domestic interest rates will be held steady for some time yet. Reserve Bank of Australia (RBA) Governor Glenn Stevens said on T
Published 20 May, 2009 12:00am
Swiss franc ticks down

Swiss franc ticks down

The Swiss franc ticked down against the euro on Tuesday but the currencies remained stuck in a range as markets are wary of further interventions from the Swiss National Bank. The franc fell 0.1 percent against the euro compared to the New York close, tra
Published 20 May, 2009 12:00am
Dollar up versus yen

Dollar up versus yen

The dollar rose against the yen on Monday as a rally in stocks revived risk appetite and comments from a Japanese official spurred speculation authorities in Japan may intervene to slow its currency's rise. The rise in world equities and strengthening cru
Published 20 May, 2009 12:00am
Yen dips as stocks climb

Yen dips as stocks climb

The yen dipped against major currencies on Tuesday, extending losses made the previous day, as a rally in Tokyo shares supported risk appetite, in turn leading investors to shift funds to riskier currencies. The Australian dollar rose towards recent seven
Published 20 May, 2009 12:00am
Hong Kong dollar recovers modestly

Hong Kong dollar recovers modestly

The Hong Kong dollar regained some ground on Tuesday, consolidating after it hit a nine-week low against the US dollar in the previous session. The market showed little immediate reaction to news that Joseph Yam, chief executive of the Hong Kong Monetary
Published 20 May, 2009 12:00am
Yuan ends up, firmer range seen

Yuan ends up, firmer range seen

The yuan ended higher against the dollar on Tuesday but kept to range-bound trading as China's central bank appeared to have set a new, slightly higher effective peg for the yuan against the dollar in its reference rate. Spot yuan closed at 6.8246 versus
Published 20 May, 2009 12:00am
Philippines shares make gains

Philippines shares make gains

Philippines share prices closed 1.33 percent higher on Tuesday, buoyed by gains on Wall Street overnight, dealers said. The composite index added 30.21 points to close at 2,309.58 while the all-shares index added 1.27 percent, or 18.72 points, to 1,484.56
Published 20 May, 2009 12:00am
Nikkei rises on weaker yen

Nikkei rises on weaker yen

Japan's Nikkei average gained 2.8 percent on Tuesday, making up ground lost the previous day with exporters such as Canon Inc lifted by a sharp slide in the yen and easing worries about the US economy and consumer spending. Japan's top bank, Mitsubishi UF
Published 20 May, 2009 12:00am
Chinese stocks hit 9-1/2-month high

Chinese stocks hit 9-1/2-month high

Chinese stocks climbed to a nine-and-a-half-month closing high in active turnover on Tuesday, lifted by rising overseas markets while non-ferrous metal shares were strong and ample liquidity continued to buoy the market. The Shanghai Composite Index ended
Published 20 May, 2009 12:00am
Jakarta shares close 4.57 percent higher

Jakarta shares close 4.57 percent higher

Indonesian shares jumped 4.57 percent on Tuesday to close at a high for 2009, driven by foreign buying in bank and commodity-related stocks, dealers said. The Jakarta Composite Index gained 82.45 points to 1,886.01 on huge volume of 8.2 trillion rupiah (7
Published 20 May, 2009 12:00am
US Treasury prices fall

US Treasury prices fall

US Treasury debt prices fell on Monday as hopes that the recession was easing drove up stocks and lured investors away from safe-haven government bonds. Stocks rose as solid results from No 2 US home improvement retailer Lowe's Cos Inc raised hopes that c
Published 20 May, 2009 12:00am
US Treasury prices fall

US Treasury prices fall

US Treasury debt prices fell on Monday as hopes that the recession was easing drove up stocks and lured investors away from safe-haven government bonds. Stocks rose as solid results from No 2 US home improvement retailer Lowe's Cos Inc raised hopes that c
Published 20 May, 2009 12:00am
Seoul shares climb

Seoul shares climb

Seoul shares posted a 7-1/2-month closing high on Tuesday as techs advanced on renewed economic hopes, while a stronger won boosted steelmakers and banks including KB Financial Group. The Korea Composite Stock Price Index (KOSPI) gained 2.99 percent to 1,
Published 20 May, 2009 12:00am
Singapore shares jump

Singapore shares jump

Singapore shares closed 3.83 percent higher on Tuesday in line with major Asian bourses amid renewed hopes for a recovery from the global downturn. The blue chip Straits Times Index added 83.38 points to end at 2,260.36 on volume of 2.52 billion shares wo
Published 20 May, 2009 12:00am
US stocks up

US stocks up

US stocks rallied on Monday as better-than-expected results from the No 2 US home improvement retailer, Lowe's Cos Inc, helped spark broad-based buying on hopes the recession is easing and consumer spending is stabilising. Investors' optimism extended to
Published 20 May, 2009 12:00am
Hong Kong shares finish at 7-1/2-month high

Hong Kong shares finish at 7-1/2-month high

Hong Kong shares rallied 3.1 percent to close at a 7-1/2 months high, in its third straight day of gains on Tuesday as signs of an early turnaround in the global economy lured investors in droves. Shares in HSBC shot up 6.3 percent to finish at four-month
Published 20 May, 2009 12:00am
Taiwan stocks end firmer

Taiwan stocks end firmer

Taiwan stocks rose 1.18 percent on Tuesday to a more than eight-month closing high after a Wall Street rally sparked hopes the global recession is easing, boosting financial shares such as Cathay Financial. The main TAIEX index rose to as high as 6,784.26
Published 20 May, 2009 12:00am
Gazprom to pay lowest dividend since 2000

Gazprom to pay lowest dividend since 2000

The Russian state told its gas monopoly Gazprom to cut its 2008 dividend by 86 percent to its lowest level since 2000, the firm said on Monday, as it faces a sharp fall in gas demand in its main markets. Gazprom, the world's largest gas producer and suppl
Published 20 May, 2009 12:00am
EU executive wants ECB to chair new risk body

EU executive wants ECB to chair new risk body

The European Central Bank should chair a new pan-European Union body to monitor excessive risks from banks but have no binding powers, a draft EU document showed in a rebuff for Europe's banking capital Britain.
Published 20 May, 2009 12:00am
Nissan says Japan green car orders surge in May

Nissan says Japan green car orders surge in May

Nissan Motor Co said on Tuesday orders for its eco-friendly cars are up 30 percent in Japan so far in May from the same period a year earlier, helped by the government's new tax incentives for low-emission cars. With the addition of the NV200 Vanette ligh
Published 20 May, 2009 12:00am
South Africa's economy set for second negative quarter

South Africa's economy set for second negative quarter

South Africa looks set for a second consecutive quarter of negative growth, central bank Governor Tito Mboweni said on Tuesday, tipping the continent's biggest economy into recession. But he added there appeared to be a tentative change in the investor mo
Published 20 May, 2009 12:00am
Krugman says worst of world economic crisis over

Krugman says worst of world economic crisis over

The worst of the global economic crisis is probably over but any early recovery is unlikely due to massive debts world-wide, Nobel prize-winning economist Paul Krugman said Tuesday. "I share the optimism that the worst is maybe over," he said in a speech
Published 20 May, 2009 12:00am
Workers halt strike at Baidu

Workers halt strike at Baidu

Workers at China's biggest Internet search engine postponed a two-week-long strike Monday, despite failing to reach an agreement over compensation issues, a US-based financial newspaper said. Representatives of several hundred employees of Baidu Inc ended
Published 20 May, 2009 12:00am
Australian central bank sees gradual recovery, rates steady

Australian central bank sees gradual recovery, rates steady

Australia's central bank signalled on Tuesday it was likely to keep interest rates on hold at a record low of 3 percent as it awaited more evidence of a lasting economic recovery, but cautioned against expectations for a dramatic return to growth. Reserve
Published 20 May, 2009 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Tuesday (May 19, 2009).

Published 20 May, 2009 12:00am
China ready to implement more measures if economy slows

China ready to implement more measures if economy slows

Recent economic data suggests China will meet its 8 percent growth target this year but Beijing will take additional measures if the economy starts losing momentum again, an official at the top economic planning body said on Monday.
Published 20 May, 2009 12:00am
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