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Print - 2009-06-10
AJK government to upgrade electrification system

AJK government to upgrade electrification system

AJK government has proposed plan in forthcoming annual fiscal year 2009-10 budget for the uplift of the electrification system. The plan include improvement of existing supply lines, and installation of new express feeders and high power transformers in a
Published 10 Jun, 2009 12:00am
Exports of finished textile products stressed

Exports of finished textile products stressed

'Pakistan's textile exporters should export finished products to foreign countries instead of shipping raw cotton so that maximum foreign exchange should be earned for the country.' Stressing upon the need for value addition, the Federal Minister for Text
Published 10 Jun, 2009 12:00am
Growing terrorism damages cultural activities

Growing terrorism damages cultural activities

Growing incidents of terrorism and failure of the government to overcome the situation have caused damaged cultural activities across the country, particularly in Multan. In normal days, one can witness dozens of drum beaters on the roads of Multan, who p
Published 10 Jun, 2009 12:00am
US MIDDAY: gold rises

US MIDDAY: gold rises

US gold futures rose in choppy trade on Tuesday, rebounding from the previous session's losses as the dollar fell and oil gained, but near-term weakness could continue after bullion failed to break above the $1,000 level last week. August up $2.10 at $954
Published 10 Jun, 2009 12:00am
Majority Pakistanis like moderate amount of spices in food: report

Majority Pakistanis like moderate amount of spices in food: report

Majority of the Pakistanis (50 per cent) like to have normal amount of spices in their food as compared to the 23 percent of the respondents who claimed to like very spicy food. According to a Gillani Research Foundation survey carried out by Gallup Pakis
Published 10 Jun, 2009 12:00am
Fertiliser dealer held for black marketing

Fertiliser dealer held for black marketing

A fertiliser dealer and his assistant caught red handed while black marketing various types of fertiliser, and were handed over to the police here. Additional Assistant Director Agriculture Liaqatpur, Chaudhry M. Ashfaq, along with Trinda Muhammad Panah p
Published 10 Jun, 2009 12:00am
US MIDDAY: cocoa, coffee and sugar climb

US MIDDAY: cocoa, coffee and sugar climb

Summaries of the ICE Futures US cocoa, coffee and sugar markets early on Tuesday. July arabica coffee contract gained 1.65 cents to trade at $1.3170 per lb at 11:04 am EDT (1504 GMT). Session range from at $1.2875 to $1.3385.
Published 10 Jun, 2009 12:00am
US MIDDAY: wheat, corn and soya up

US MIDDAY: wheat, corn and soya up

Chicago Board of Trade grains and soya complex at 12:26 am CDT (1726 GMT) on Tuesday. July wheat up 13-1/4 cents per bushel at $6.11-1/4. Support from weak dollar but gains limited by abundant wheat supply and slow export sales of US wheat. July corn up 8
Published 10 Jun, 2009 12:00am
US MIDDAY: copper jumps

US MIDDAY: copper jumps

US copper futures jumped 3 percent Tuesday morning as renewed weakness in the dollar, firmer crude oil and general upbeat economic sentiment helped keep prices buoyed near 7-1/2-month highs.
Published 10 Jun, 2009 12:00am
Gold climbs in Europe

Gold climbs in Europe

Gold firmed on Tuesday as the dollar weakened against the euro, boosting interest in the precious metal as a currency hedge. Spot gold was bid at $953.70 an ounce at 1428 GMT, against $950.05 an ounce late in New York on Monday. It earlier touched a high
Published 10 Jun, 2009 12:00am
London cocoa, coffee and sugar rise

London cocoa, coffee and sugar rise

Fund and investor buying drove London futures to a two-month peak and US cocoa futures to a four-month high and on Tuesday, triggered by a weakening dollar and a strengthening commodities complex, dealers said.
Published 10 Jun, 2009 12:00am
Oil jumps nearly three percent to $70 a barrel

Oil jumps nearly three percent to $70 a barrel

Oil jumped nearly 3 percent to settle at a seven-month high of $70 a barrel on Tuesday on the weaker dollar and a US government report revising global demand expectations higher for the first time since September. US crude settled up $1.92 at $70.01 a bar
Published 10 Jun, 2009 12:00am
New York cotton futures settle higher

New York cotton futures settle higher

Cotton futures settled higher on Monday on investor short-covering and trade buying as the market rebounded after sinking to a 6-week low last week, brokers said. The July cotton contract climbed 0.56 cent to close at 55.67 cents per lb.
Published 10 Jun, 2009 12:00am
Copper hits eight-month high

Copper hits eight-month high

Copper rose to an 8-month high above $5,000 a tonne on Tuesday, as improving economic sentiment and a weaker dollar supported industrial metals, while aluminium hit a 6-month high on signs of stronger demand.
Published 10 Jun, 2009 12:00am
UK's top share index ends flat

UK's top share index ends flat

Britain's leading share index ended flat on Tuesday, with commodity stocks tracking gains in raw material prices as the dollar eased but cigarette makers and pharmaceutical companies fell. The FTSE 100 closed down 0.43 points at 4,404.79 in a choppy sessi
Published 10 Jun, 2009 12:00am
European CDS mixed; secondary market loses lustre

European CDS mixed; secondary market loses lustre

European credit spreads were mixed on Tuesday, partly reflecting a slowdown in primary issuance and uncertainty over whether a rally in secondary market spreads can be sustained. In the primary market, there was just one benchmark bond from the Irish util
Published 10 Jun, 2009 12:00am
Tuesday's afternoon trade: Wall Street higher

Tuesday's afternoon trade: Wall Street higher

The Nasdaq rose on Tuesday after an improved outlook from Texas Instruments lifted technology stocks, but gains on other indexes were limited as plans by big banks to repay government bailout funds raised concerns whether the move would help the economy r
Published 10 Jun, 2009 12:00am
European CDS mixed; secondary market loses lustre

European CDS mixed; secondary market loses lustre

European credit spreads were mixed on Tuesday, partly reflecting a slowdown in primary issuance and uncertainty over whether a rally in secondary market spreads can be sustained. In the primary market, there was just one benchmark bond from the Irish util
Published 10 Jun, 2009 12:00am
Asian bond spreads widen

Asian bond spreads widen

Asian bond spreads widened slightly on Tuesday, as investors unloaded some of their holdings to make way for new issues. State-owned Korea Hydro and Nuclear Power received more than $8 billion in orders for a sale of five-year dollar bonds, and may price
Published 10 Jun, 2009 12:00am
Asian bond spreads widen

Asian bond spreads widen

Asian bond spreads widened slightly on Tuesday, as investors unloaded some of their holdings to make way for new issues. State-owned Korea Hydro and Nuclear Power received more than $8 billion in orders for a sale of five-year dollar bonds, and may price
Published 10 Jun, 2009 12:00am
Building collapses after firecrackers blast

Building collapses after firecrackers blast

Tension gripped the Quetta Town area after firecrackers stored in a ground-plus-one building exploded on Tuesday. However, no loss of life was reported in the incident. According to SHO Sachal Police, Inayatullah Narejo, the building, located near Super H
Published 10 Jun, 2009 12:00am
SDC to start 'Home IT Business' training programme

SDC to start 'Home IT Business' training programme

Skill Development Council, Ministry of Labour and Manpower is launching a new training programme titled as "Home IT Business" from June 20 in Islamabad. Announcing the launch of Home IT Business Course, SDC said "it will empower individuals to start their
Published 10 Jun, 2009 12:00am
KESC launches public 'Speak-Up' campaign

KESC launches public 'Speak-Up' campaign

The Karachi Electric Supply Company (KESC) on Tuesday launched its public "Speak-Up" campaign facilitating the consumers who now can contact the central offices of the utility directly in order to expedite the redress of general complaints and to eradicat
Published 10 Jun, 2009 12:00am
MoC mulling to create hedge fund for facilitating exporters

MoC mulling to create hedge fund for facilitating exporters

Ministry of Commerce (MoC) is contemplating to create a hedge fund to facilitate exporters, Secretary Ministry of Commerce, Suleman Ghani informed business community on Tuesday. Speaking at a meeting of the Karachi Chamber of Commerce and Industry (KCCI),
Published 10 Jun, 2009 12:00am
MoC mulling to create hedge fund for facilitating exporters

MoC mulling to create hedge fund for facilitating exporters

Ministry of Commerce (MoC) is contemplating to create a hedge fund to facilitate exporters, Secretary Ministry of Commerce, Suleman Ghani informed business community on Tuesday. Speaking at a meeting of the Karachi Chamber of Commerce and Industry (KCCI),
Published 10 Jun, 2009 12:00am
Government urged to resume cotton hedge trading

Government urged to resume cotton hedge trading

Cotton brokers have urged the government for resumption of 'Hedge Trading' with immediate effect to safeguard the interests of all segments of cotton economy. Addressing a press conference here on Tuesday, Muhammad Naseem Usman, chairman of Karachi Cotton
Published 10 Jun, 2009 12:00am
Infrastructure development top priority: Shahbaz

Infrastructure development top priority: Shahbaz

Punjab Chief Minister, Muhammad Shahbaz Sharif, has said that government is paying special attention to infrastructure development and a number of projects are being executed in the province. He said that Chinese companies could extend co-operation in the
Published 10 Jun, 2009 12:00am
Mukhtar for enhanced defence, economic ties with Germany

Mukhtar for enhanced defence, economic ties with Germany

Federal Minister for Defence, Chaudhry Ahmed Mukhtar on Tuesday proposed an enhanced interaction between the German defence equipment production companies and defence production establishments of Pakistan. "Co-operation in defence production is beneficial
Published 10 Jun, 2009 12:00am
Gondal terms LHCBA poll fraud

Gondal terms LHCBA poll fraud

The Lahore High Court Bar Association (LHCBA) President, Munawar Gondal held a meeting of executive committee where room meant for president office has been declared extension of ladies bar room. The meeting also rejected June 06 election and termed it fr
Published 10 Jun, 2009 12:00am
Iesco power shutdown notice

Iesco power shutdown notice

According to Iesco, power supply will remain suspended due to maintenance works as per following schedule. 10 June, Modern Flour Mill Feeder, from 0700 to 1500 hours. 13, 16 and 20 June, Rehmatabad Feeder, from 0800 to 1200 hours.
Published 10 Jun, 2009 12:00am
Karachi Citizen's Participation Trust set up

Karachi Citizen's Participation Trust set up

Nazim Karachi Syed Mustafa Kamal has announced to establish Karachi Citizen's Participation Trust that would be used for the development and progress of the city.
Published 10 Jun, 2009 12:00am
Government will reinstate sacked UBL employees: minister

Government will reinstate sacked UBL employees: minister

A seven-member delegation of sacked employees of United Bank Limited (UBL) headed by Muhammad Anwar Usmani, Chairman Central Action Committee for sacked employees met Federal Minister for Labour and Manpower Syed Khursheed Ahmad Shah and Senator Raza Rabb
Published 10 Jun, 2009 12:00am
Shahbaz sees wide scope of trade cooperation between Pakistan and China

Shahbaz sees wide scope of trade cooperation between Pakistan and China

Punjab Chief Minister Muhammad Shahbaz Sharif has said that there is a wide scope of co-operation between Pakistan and China in various sectors and the economic future of Pakistan depends upon close trade and industrial relations with China. He said that
Published 10 Jun, 2009 12:00am
Kashmiris sit-in, demonstrate outside UN office

Kashmiris sit-in, demonstrate outside UN office

The Kashmiris have staged a demonstration and a sit-in in Islamabad, protesting against the rape and murder of two innocent Kashmiri women by Indian occupation troops in occupied Kashmir (IoK). The demonstration and sit in was organised by Azad Jammu Kash
Published 10 Jun, 2009 12:00am
FROM A RINGSIDE SEAT

FROM A RINGSIDE SEAT

The credibility issue would remain the biggest problem of the present government. This was also evident in the Senate on Tuesday when this issue again transpired when the Minister of State for Communication Chaudhry Imtiaz Warriach was responding to diffe
Published 10 Jun, 2009 12:00am
Turkmenistan offers to export more power

Turkmenistan offers to export more power

Ambassador of Turkmenistan to Pakistan, H.E Sapar Berdiniyazov called on the Federal Minister for Water and Power, Raja Pervez Ashraf on Tuesday and discussed matters of mutual interest, bilateral trade and for enhancing the economic co-operation in vario
Published 10 Jun, 2009 12:00am
Euro climbs versus dollar in London

Euro climbs versus dollar in London

The dollar fell on Tuesday, pausing for breath following gains in the past few days as investors assessed the likelihood of an earlier-than-expected interest rate hike in the United States. The euro climbed, reversing losses suffered after an unexpected f
Published 10 Jun, 2009 12:00am
Indian rupee recovers

Indian rupee recovers

The Indian rupee recovered from a an early fall to end stronger on Tuesday as rising share prices reinforced expectations of higher capital inflows in the coming months. The partially convertible rupee ended at 47.48/49 per dollar, about 0.2 percent highe
Published 10 Jun, 2009 12:00am
Three-month dollar Libor falls near record low

Three-month dollar Libor falls near record low

Short-term costs to borrow dollars fell on Tuesday on reduced concerns that the Federal Reserve might raise interest rates sooner than the market expects. Rate-hike worries also retreated on news the government approved 10 of the largest US banks to pay b
Published 10 Jun, 2009 12:00am
Labour minister Malik cleared of breaking rules

Labour minister Malik cleared of breaking rules

Junior Justice Minister Shahid Malik, who stepped down after he was drawn into a controversy over his parliamentary expenses, was cleared of wrongdoing on Tuesday and appointed to a new government post. Malik stepped down temporarily last month pending an
Published 10 Jun, 2009 12:00am
Next 18 months key to Afghan victory: Pentagon

Next 18 months key to Afghan victory: Pentagon

The Pentagon's top leaders say that the next year to 18 months will be key in determining if the war in Afghanistan is being won. Both Defence Secretary Robert Gates and Joint Chiefs Chairman Mike Mullen said they are more optimistic now than in recent mo
Published 10 Jun, 2009 12:00am
Sterling rises sharply

Sterling rises sharply

Sterling rose sharply against a broadly weaker dollar and gained versus the euro on Tuesday, helped by further signs the UK housing market is stabilising. A survey by the Royal Institution of Chartered Surveyors showed house prices in England and Wales fe
Published 10 Jun, 2009 12:00am
Japanese takes lead in straw poll for IAEA helm

Japanese takes lead in straw poll for IAEA helm

A Japanese diplomat took a clear lead over four rivals in a straw poll held on Tuesday to identify a frontrunner to take over the UN nuclear agency, but it was not enough to defuse fears of another election impasse. Japan's Yukiya Amano drew almost twice
Published 10 Jun, 2009 12:00am
Reporters' families seek mercy, North Korea makes threat

Reporters' families seek mercy, North Korea makes threat

Relatives of two US journalists sentenced to 12 years hard labour in North Korea called on the reclusive state to show compassion, while Pyongyang threatened to use nuclear weapons if outside countries invade. Monday's harsh sentence by a top North Korean
Published 10 Jun, 2009 12:00am
Blast near US convoy kills one Afghan

Blast near US convoy kills one Afghan

A blast near a US troop convoy in eastern Afghanistan killed at least one child and wounded scores of civilians on Tuesday, a provincial governor said. The US military said that one person was reported killed and that three US soldiers and several Afghan
Published 10 Jun, 2009 12:00am
Rafsanjani asks Iran leader to secure 'clean' election

Rafsanjani asks Iran leader to secure 'clean' election

Former Iranian president Akbar Hashemi Rafsanjani pleaded for a clean election after he and his family were attacked in an electoral debate, the official IRNA news agency reported on Tuesday. "In the time left (until Friday's poll), it seems necessary tha
Published 10 Jun, 2009 12:00am
European court rules against Turkey in abuse case

European court rules against Turkey in abuse case

The European Court of Human Rights (ECHR) on Tuesday ruled Turkey had denied a citizen her "right to life" by failing to prevent her murder by her son-in-law and ordered it to pay damages. It was the first time the court ruled against a state for failing
Published 10 Jun, 2009 12:00am
US envoy assures Israel of strong alliance

US envoy assures Israel of strong alliance

US envoy George Mitchell assured Israel on Tuesday the United States would remain its close ally despite differences over Jewish settlements and peacemaking with the Palestinians. Mitchell told President Shimon Peres his goal was to create conditions for
Published 10 Jun, 2009 12:00am
China denounces Parisian honour to Dalai Lama

China denounces Parisian honour to Dalai Lama

China on Tuesday expressed "strong discontent" that Paris had honoured the Dalai Lama, warning the act would harm Sino-French relations. Socialist mayor Bertrand Delanoe on Sunday made the Dalai Lama an honorary citizen of the French capital. "We expresse
Published 10 Jun, 2009 12:00am
Barroso seeks new term as EU Commission chief

Barroso seeks new term as EU Commission chief

European Commission President Jose Manuel Barroso declared his candidacy for a second five-year term on Tuesday after electoral gains for his centre-right allies strengthened his bid. Barroso, a Portuguese conservative, has headed the EU's executive since
Published 10 Jun, 2009 12:00am
Computer injuries on rise, youths most at risk: study

Computer injuries on rise, youths most at risk: study

Blurry vision and wrist pain are among the well-known health perils of computer use, but a study released Tuesday shows a rise in previously overlooked injuries due to computer equipment falling over. Researchers found a 732-percent rise in "acute compute
Published 10 Jun, 2009 12:00am
Sarkozy's friend stripped of mayor post for bribing voters

Sarkozy's friend stripped of mayor post for bribing voters

French entrepreneur Serge Dassault, a close friend of President Nicolas Sarkozy, has been stripped of his mayor's post in Corbeil-Essonnes, near Paris, for bribing voters, French media reported Tuesday. France's highest administrative court, the Council o
Published 10 Jun, 2009 12:00am
Six dead in Ukraine coal mine disaster

Six dead in Ukraine coal mine disaster

At least six miners were killed and seven missing Tuesday after a coal mining accident in eastern Ukraine, regional officials said, as relatives kept a tearful vigil at the mine. "Six people are dead. Searches are ongoing for seven other miners," Marina N
Published 10 Jun, 2009 12:00am
Mogadishu civilians endure near daily atrocities: UN

Mogadishu civilians endure near daily atrocities: UN

Civilians in Somalia's capital Mogadishu are enduring near daily atrocities from shelling to rape and hostage-taking, the UN refugee agency said on Tuesday. More than 117,000 people have fled the city since May 8 when the latest round of fighting between
Published 10 Jun, 2009 12:00am
24 injured as high-rise acid attacker strikes again in Hong Kong

24 injured as high-rise acid attacker strikes again in Hong Kong

Police in Hong Kong were Tuesday hunting a mystery high-rise attacker who throws bottles of acid from tower blocks onto shoppers after the culprit struck for a third time.Twenty-four people including a 4-year-old girl were injured after being splashed wit
Published 10 Jun, 2009 12:00am
Zuma vows no change to economic policies

Zuma vows no change to economic policies

President Jacob Zuma said Tuesday he would not deviate from South Africa's existing "prudent" macro-economic policies, despite his promises to create 500,000 jobs by the end of the year. In his state of the nation address last week, Zuma stuck to campaign
Published 10 Jun, 2009 12:00am
Piracy is 'tip of iceberg' of Somalia's crises: Italian foreign minister

Piracy is 'tip of iceberg' of Somalia's crises: Italian foreign minister

Piracy off Somalia is only the "tip of the iceberg" in the multiple crises facing the Horn of Africa country, Italian Foreign Minister Franco Frattini said Tuesday. "Piracy is only part of the problem, the tip of the iceberg," Frattini said at the start o
Published 10 Jun, 2009 12:00am
Saudis gleeful at Lebanon vote, now look to Iran's

Saudis gleeful at Lebanon vote, now look to Iran's

Saudi Arabia, which has led Arab attempts to hold back Iranian influence in the Middle East, has reacted triumphantly to the victory of its pro-US allies in Lebanon's elections this week. The surprise win by the incumbent Sunni Muslim-led bloc backed by W
Published 10 Jun, 2009 12:00am
Sudan court sentences 12 Darfur rebels to death

Sudan court sentences 12 Darfur rebels to death

A Sudanese court sentenced 12 members of the Darfur rebel Justice and Equality Movement (JEM) to death on Tuesday for taking part in a brazen 2008 assault on Khartoum in which more than 200 people were killed. The ruling, thought to be the last in a serie
Published 10 Jun, 2009 12:00am
Indian foreign minister urges students in Australia to show restraint

Indian foreign minister urges students in Australia to show restraint

India's foreign minister Tuesday urged Indian students in Australia to stay calm in the wake of a series of racial attacks on them in recent weeks. "I would like our Indian students to be patient ... restrained. They have gone there to pursue higher studi
Published 10 Jun, 2009 12:00am
Bangladesh vitamin drive reportedly sickens 400 children, kills one

Bangladesh vitamin drive reportedly sickens 400 children, kills one

Authorities in Bangladesh have launched an investigation into the reported death of a baby and illnesses among 400 other children following a nation-wide administration of Vitamin A and de-worming medicines, media reports said Tuesday.The health ministry
Published 10 Jun, 2009 12:00am
Three Afghan presidential candidates barred

Three Afghan presidential candidates barred

Three candidates for Afghanistan's presidential vote have been barred for flouting candidacy requirements such as a ban on men linked to illegal armed groups, a commission announced Tuesday. Independent Electoral Complaints Commission (ECC) chairman Grant
Published 10 Jun, 2009 12:00am
Shell pays $15.5 million to settle Nigeria deaths lawsuit

Shell pays $15.5 million to settle Nigeria deaths lawsuit

Royal Dutch Shell has agreed to pay 15.5 million dollars to settle a lawsuit accusing it of human rights abuses brought by the families of activists executed in Nigeria. The case was due to go to court in New York next week, but Shell settled in a move it
Published 10 Jun, 2009 12:00am
Hail storm kills 23 in eastern China

Hail storm kills 23 in eastern China

A severe hail storm that swept through eastern China has killed at least 23 people and injured more than 200, the local government and state media said Tuesday. The storm hit 15 cities and 63 counties across Anhui province late last week, packing winds of
Published 10 Jun, 2009 12:00am
Swiss franc flat

Swiss franc flat

The Swiss franc was unchanged against the dollar on Tuesday after losing ground against the greenback in the previous two sessions, although few clear indicators offered traders any real direction. The franc ticked up against the euro, but gave scant indi
Published 10 Jun, 2009 12:00am
Australian dollar takes a breath

Australian dollar takes a breath

The Australian dollar bounced off its lowest level in more than a week on Tuesday, but weaker Asian stock markets tempered its gains and put a brake on its three-month long rally. The Aussie steadied around $0.7921 in quiet trade, off a low of $0.7828 str
Published 10 Jun, 2009 12:00am
Asian currencies: rupiah and Singapore dollar lose steam

Asian currencies: rupiah and Singapore dollar lose steam

The Indonesian rupiah led a decline in Asian currencies on Tuesday as the dollar firmed broadly, while the Malaysian ringgit suffered after Fitch cut the country's long-term local currency ratings. Asian stocks fell for a second straight session while the
Published 10 Jun, 2009 12:00am
Ireland downgrade weighs on euro

Ireland downgrade weighs on euro

The euro fell broadly on Monday, hurt by a rating agency's second downgrade on Ireland's sovereign debt, while the dollar extended gains as Treasury yields continued to rise following last week's stronger-than-expected US jobs data. Ratings agency Standar
Published 10 Jun, 2009 12:00am
Dollar steady

Dollar steady

The dollar was steady against a basket of currencies on Tuesday, staying below a two-week high scaled after US jobs data last week stoked expectations for a Federal Reserve rate rise later this year. The euro faced some selling pressure after the Wall Str
Published 10 Jun, 2009 12:00am
Yuan ends slightly up

Yuan ends slightly up

The yuan edged up slightly against the dollar on Tuesday after the Chinese central bank set the currency's mid-point, or reference rate, almost unchanged. Despite the currency's apparent stability, the People's Bank of China has allowed the yuan to dip fr
Published 10 Jun, 2009 12:00am
Nikkei slips as exporter shares fall

Nikkei slips as exporter shares fall

Japan's Nikkei average fell 0.8 percent on Tuesday, as exporter shares such as Honda Motor Co fell back after leading the benchmark to an eight-month closing high the previous day. Shares sensitive to moves in commodity prices like trading house Mitsubish
Published 10 Jun, 2009 12:00am
Philippines shares drop

Philippines shares drop

Philippines share prices closed 1.17 percent lower on Tuesday as profit-taking continued, dealers said. The composite index fell 29.47 points to 2,488.26 while the all-shares index fell 1.31 percent to 1,598.85. There were 27 gainers, 89 losers and 46 unc
Published 10 Jun, 2009 12:00am
Hong Kong dollar inches up

Hong Kong dollar inches up

The Hong Kong dollar inched higher against the US dollar on Tuesday, while long-dated interbank rates continued to track US dollar rates higher on speculation the Federal Reserve could raise interest rates later this year. The local currency was up 0.01 p
Published 10 Jun, 2009 12:00am
Thai share prices rally

Thai share prices rally

Thai shares gained 1.28 percent on Tuesday, closing at an eight-month high on speculative buying of energy shares after oil prices rose, an analyst said. The Stock Exchange of Thailand (SET) composite index was up 7.70 points to close at 607.73 while the
Published 10 Jun, 2009 12:00am
Singapore shares make slight gains

Singapore shares make slight gains

Singapore shares closed 0.69 percent higher on Tuesday but gains were limited by investors consolidating their gains from a recent rally, dealers said. The blue chip Straits Times Index rose 16.17 points to 2,349.87 on volume of 2.45 billion shares worth
Published 10 Jun, 2009 12:00am
US Treasury prices sag

US Treasury prices sag

US Treasury prices fell on Monday, sending yields to seven-month highs, as fears that the US Federal Reserve will raise interest rates sooner than expected swept through the bond market. The losses were an aftershock of Friday's selling, which followed a
Published 10 Jun, 2009 12:00am
US Treasury prices sag

US Treasury prices sag

US Treasury prices fell on Monday, sending yields to seven-month highs, as fears that the US Federal Reserve will raise interest rates sooner than expected swept through the bond market. The losses were an aftershock of Friday's selling, which followed a
Published 10 Jun, 2009 12:00am
Malaysian shares fall

Malaysian shares fall

Malaysian shares closed down 0.10 percent on Tuesday on selling in blue chips including top bank Maybank, dealers said. The Kuala Lumpur Composite Index lost 1.06 points to 1,071.79. Losers outnumbered gainers 311 to 306. "Sustained selling in blue chips
Published 10 Jun, 2009 12:00am
US stocks end flat

US stocks end flat

US stocks rebounded late on Monday to end flat, shrugging off lighter-than-expected sales from McDonald's and lowered iPhone prices from Apple. The three major US stock indexes had fallen more than 1 percent before rallying in the last hour of trading, le
Published 10 Jun, 2009 12:00am
Seoul shares fall

Seoul shares fall

Seoul shares wiped out early gains to close lower on Tuesday as drops in regional markets weighed on sentiment, with losses led by key technology and steel issues including Hynix Semiconductor. The Korea Composite Stock Price Index (KOSPI) ended down 1.54
Published 10 Jun, 2009 12:00am
China shares slightly firmer

China shares slightly firmer

Chinese shares closed up 0.71 percent on Tuesday, off early lows as financial companies rebounded on bargain hunting, dealers said. The Shanghai Composite Index, which covers A and B shares, was up 19.55 points to 2,787.89 on turnover of 133.4 billion yua
Published 10 Jun, 2009 12:00am
Taiwan stocks at one-month low

Taiwan stocks at one-month low

Taiwan stocks fell 3.22 percent on Tuesday to a near one-month closing low, with technology shares including HTC Corp leading the decline after reporting weaker-than-expected May sales. The main TAIEX share index closed 213.63 points lower at 6,414.39, it
Published 10 Jun, 2009 12:00am
China's Hu to attend first BRIC summit

China's Hu to attend first BRIC summit

China said Tuesday that President Hu Jintao would attend the first official BRIC summit in Russia, during which the reform of international financial institutions would be high on the agenda. Hu will leave China on Sunday for a five-day trip to Yekaterinb
Published 10 Jun, 2009 12:00am
Hong Kong shares slip 1.07 percent

Hong Kong shares slip 1.07 percent

Hong Kong share prices closed 1.07 percent lower on Tuesday, as investors grabbed profits following recent rallies in the property sector, dealers said. The benchmark Hang Seng Index lost 194.90 points to end at 18,058.49. Turnover was 71.93 billion Hong
Published 10 Jun, 2009 12:00am
HSBC launches China joint venture to speed up insurance push

HSBC launches China joint venture to speed up insurance push

Europe's biggest bank, HSBC Holdings, has received regulatory approval to launch an insurance joint venture in China, as part of its drive to boost income from insurance. HSBC and Beijing-based National Trust Ltd will each hold 50 percent of the new compa
Published 10 Jun, 2009 12:00am
Australian business mood improves as stimulus flows

Australian business mood improves as stimulus flows

Australian business confidence boasted its biggest jump since 2001 while job advertisements fell at the slowest pace in 13 months in May, adding to signs the economy was responding to fiscal and monetary stimulus. The readings from two separate surveys of
Published 10 Jun, 2009 12:00am
Bank of France less gloomy, trade deficit narrows

Bank of France less gloomy, trade deficit narrows

The Bank of France forecast a marginally less gloomy outlook for the French economy in the second quarter and trade figures for April released on Tuesday showed a slight narrowing in the deficit. The Bank of France revised its forecast for the second quar
Published 10 Jun, 2009 12:00am
China's auto sales soar 34 percent in May

China's auto sales soar 34 percent in May

Auto sales in China soared 34 percent year on year in May, with passenger car purchases growing strongly due to government stimulus measures, an industry association said Tuesday. More than 1.1 million cars were bought last month, bringing sales in the fi
Published 10 Jun, 2009 12:00am
Romanian economy enters recession

Romanian economy enters recession

The Romanian economy shrank 4.6 percent in first quarter 2009 compared with the previous three months, official data showed on Tuesday, confirming that the country had entered a recession. Romanian gross domestic product contracted 3.4 percent in the fina
Published 10 Jun, 2009 12:00am
Japan set to delay fiscal goal as debt climbs

Japan set to delay fiscal goal as debt climbs

Japan's top economic advisory panel proposed a new long-term fiscal reform target on Tuesday as the government ramps up spending to get the world's second-biggest economy out of its deepest recession of modern times. The shift comes at a time when Japanes
Published 10 Jun, 2009 12:00am
Japan set to delay fiscal goal as debt climbs

Japan set to delay fiscal goal as debt climbs

Japan's top economic advisory panel proposed a new long-term fiscal reform target on Tuesday as the government ramps up spending to get the world's second-biggest economy out of its deepest recession of modern times. The shift comes at a time when Japanes
Published 10 Jun, 2009 12:00am
South Korean president sounds less cautious on economy

South Korean president sounds less cautious on economy

South Korea's president on Tuesday sounded a slightly less cautious note on the economy, reinforcing bond investors' bets that local interest rates have hit bottom and may rise from early next year. President Lee Myung-bak said during a regular cabinet me
Published 10 Jun, 2009 12:00am
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