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Print - 2009-08-26
Century Insurance reports losses

Century Insurance reports losses

Century Insurance Company Ltd has reported a loss after tax of Rs 53.990 million during the six months ending June 30. According to result despatched to Karachi Stocks Exchange (KSE) here on Tuesday, the pre-tax loss of the company touch Rs 38.578 million
Published 26 Aug, 2009 12:00am
Century Insurance reports losses

Century Insurance reports losses

Century Insurance Company Ltd has reported a loss after tax of Rs 53.990 million during the six months ending June 30. According to result despatched to Karachi Stocks Exchange (KSE) here on Tuesday, the pre-tax loss of the company touch Rs 38.578 million
Published 26 Aug, 2009 12:00am
US MIDDAY: copper slips

US MIDDAY: copper slips

US copper futures opened lower in a profit-taking retreat Tuesday morning, despite a double-dose of economic data that pointed to a further improved outlook for the world's largest economy. Benchmark copper for December delivery dipped 4.40 cents, or 1.5
Published 26 Aug, 2009 12:00am
US MIDDAY: gold bounces

US MIDDAY: gold bounces

US gold futures rebounded on Tuesday as the dollar weakened against the euro, and the metal should rise further only if supported by rising inflationary expectations, analysts said. December gold up $5.80 to 949.50 an ounce at 10:27 am EDT (1427 GMT) on t
Published 26 Aug, 2009 12:00am
US MIDDAY: corn down

US MIDDAY: corn down

CBOT December corn was down 11-1/2 cents per bushel at $3.24 and on improving crop condition ratings in the United States, traders said.
Published 26 Aug, 2009 12:00am
US MIDDAY: wheat higher

US MIDDAY: wheat higher

Wheat futures on the Chicago Board of Trade rose to a 1-1/2-week high early Tuesday on follow-through short covering after Monday's strong technical close, traders said. Kansas City Board of Trade and Minneapolis wheat markets were also higher early, foll
Published 26 Aug, 2009 12:00am
US MIDDAY: soya jumps

US MIDDAY: soya jumps

Chicago Board of Trade spot soyabeans jumped to a 1-1/2 week top early Tuesday, with the nearby spread firming more than 10 cents a bushel on tight stocks, traders said. September soya was up 14 cents at $10.94 a bushel near 10 am CDT while the back month
Published 26 Aug, 2009 12:00am
Gold springs back in London trade

Gold springs back in London trade

Gold extended gains on Tuesday as the dollar weakened against a basket of currencies, boosting interest in the precious metal as an alternative asset. Spot gold was bid at $948.00 an ounce at 1440 GMT, against $941.40 an ounce late in New York on Monday.
Published 26 Aug, 2009 12:00am
US MIDDAY: cocoa soars

US MIDDAY: cocoa soars

Summaries of the ICE Futures US cocoa, coffee and sugar markets. December arabica coffee contract up 0.10 cent to $1.2260 per lb at 11:08 am EDT (1508 GMT). Session range from $1.2170 to $1.2370. Market little changed as origin sellers waited for higher p
Published 26 Aug, 2009 12:00am
Cocoa advances in London

Cocoa advances in London

Cocoa futures on ICE broke through the $3,000 level for the first time in more than one year on Tuesday in largely technically-driven trading against the backdrop of a global deficit. London prices also advanced, setting a five-month peak. Sugar futures r
Published 26 Aug, 2009 12:00am
Oil prices sink four percent

Oil prices sink four percent

Oil prices sank four percent on Tuesday as dealers rushed to take profits from a rally that had culminated in a 10-month peak earlier in the day. US crude oil dropped $3 to $71.37 a barrel, down from a peak of $75, in the biggest percentage loss since Aug
Published 26 Aug, 2009 12:00am
Copper slips

Copper slips

Copper fell on Tuesday as investors retreated on mounting worries recent price gains may have been overdone and on concern about slowing Chinese demand. Three-month copper on the London Metal Exchange closed at $6,311 a tonne, from $6,418 at the close on
Published 26 Aug, 2009 12:00am
FTSE at near 11-month high

FTSE at near 11-month high

Britain's top share index set a near 11-month closing high on Tuesday as economic figures from the United States helped turn the market positive, with stronger oils and banks outweighing weaker mining stocks. The index ended 20.57 points higher at 4,916.8
Published 26 Aug, 2009 12:00am
New York cotton ends lower

New York cotton ends lower

Cotton futures settled lower on Tuesday on technically-inspired investor sales, but late short-covering pared the market's losses, brokers said. The December cotton contract in New York shed 0.92 cent to end at 58.15 cents per lb, moving from 58 to 59.61
Published 26 Aug, 2009 12:00am
European CDS recover on positive macro data

European CDS recover on positive macro data

European credit default swaps were slightly wider on Tuesday after recovering from an early morning slump as shares rallied on data showing gains in US house prices and consumer confidence. By 1438 GMT, the investment-grade Markit iTraxx Europe index was
Published 26 Aug, 2009 12:00am
Tuesday's early afternoon trade: US stocks move higher

Tuesday's early afternoon trade: US stocks move higher

US stocks climbed on Tuesday, briefly hitting 2009 highs after strong housing and consumer confidence data, while Ben Bernanke's renomination as Fed chairman ended uncertainty about the central bank's leadership as the economy recovers. Consumer confidenc
Published 26 Aug, 2009 12:00am
European CDS recover on positive macro data

European CDS recover on positive macro data

European credit default swaps were slightly wider on Tuesday after recovering from an early morning slump as shares rallied on data showing gains in US house prices and consumer confidence. By 1438 GMT, the investment-grade Markit iTraxx Europe index was
Published 26 Aug, 2009 12:00am
Indian shares rise

Indian shares rise

Indian shares edged up 0.4 percent on Tuesday to their best close in almost three weeks, led by top vehicle maker Tata Motors on a brokerage upgrade and outsourcers such as Wipro as the rupee weakened. Trading was choppy and the undercurrent weakening as
Published 26 Aug, 2009 12:00am
Asian bond spreads widen

Asian bond spreads widen

Asian bond spreads widened on Tuesday, as the market took a breather after four days of gains tracking weak equities, but Indonesian sovereign bond prices rose on a government plan to raise more revenue. Indonesia's new tax chief told Reuters the governme
Published 26 Aug, 2009 12:00am
Asian bond spreads widen

Asian bond spreads widen

Asian bond spreads widened on Tuesday, as the market took a breather after four days of gains tracking weak equities, but Indonesian sovereign bond prices rose on a government plan to raise more revenue. Indonesia's new tax chief told Reuters the governme
Published 26 Aug, 2009 12:00am
Thai shares rise

Thai shares rise

The Thai stock market gained 0.35 percent Tuesday owing to bargain hunting in energy shares, an analyst said. The Stock Exchange of Thailand (SET) composite index edged up 2.26 points to close at 655.46, while the blue chip SET-50 index was up 0.43 points
Published 26 Aug, 2009 12:00am
Sterling hits 2-1/2 month low

Sterling hits 2-1/2 month low

Sterling hit its lowest mark in two-and-a-half months against the euro on Tuesday as interest rate and bond yield spreads moved against it, and lost ground against the dollar despite equities recouping earlier losses.
Published 26 Aug, 2009 12:00am
Malaysian shares down

Malaysian shares down

Malaysian shares closed down 0.29 percent Tuesday in line with weaker regional markets, dealers said. The Kuala Lumpur Composite Index lost 3.40 points to 1,171.09. Losers outnumbered gainers 354 to 269. "Technology stocks fell the most, with the sub-inde
Published 26 Aug, 2009 12:00am
Yen gains broadly in London

Yen gains broadly in London

The yen rose broadly on Tuesday, advancing in particular against the euro and sterling as a retreat in European shares from a 10-month high the previous day undermined demand for currencies considered to be high-risk.
Published 26 Aug, 2009 12:00am
Indian rupee drops

Indian rupee drops

The Indian rupee weakened on Tuesday as a choppy sharemarket failed to provide clarity on the direction of foreign fund flows and month-end dollar demand from importers gained momentum. The partially convertible rupee closed at 48.75/76 per dollar, off an
Published 26 Aug, 2009 12:00am
Syria recalls its envoy to Iraq in tit-for-tat move

Syria recalls its envoy to Iraq in tit-for-tat move

Damascus recalled its ambassador to Iraq on Tuesday after Baghdad ordered home its envoy and demanded the handover of two men allegedly behind a deadly truck bombing last week, the foreign ministry said. "In response to the recalling by the Iraqi governme
Published 26 Aug, 2009 12:00am
Uighur exile airs prison killing allegation

Uighur exile airs prison killing allegation

Rebiya Kadeer, the leader of China's Uighur minority in exile, has highlighted a report that nearly 200 inmates were "tortured" to death in prison. The allegations came as a war of words intensifies between Beijing and the 62-year-old former businesswoman
Published 26 Aug, 2009 12:00am
New US deaths make 2009 Afghan war's deadliest

New US deaths make 2009 Afghan war's deadliest

Four US servicemen were killed by a roadside bomb in Afghanistan on Tuesday, making 2009 the deadliest year for the growing contingent of foreign troops since the overthrow of the Taliban in 2001. The deaths highlighted the steadily worsening violence in
Published 26 Aug, 2009 12:00am
Jackson killed by drugs cocktail: court documents

Jackson killed by drugs cocktail: court documents

Lethal levels of a powerful anesthetic killed Michael Jackson, according to court documents that placed the pop star's personal physician under mounting police scrutiny.
Published 26 Aug, 2009 12:00am
Young Afghan Guantanamo inmate freed, returns home

Young Afghan Guantanamo inmate freed, returns home

Mohammad Jawad, one of the youngest detainees to be held at the US detention facility in Guantanamo Bay, Cuba, said on Tuesday after his return home to Afghanistan he had been abused and humiliated during six years in custody. A teenager when he was held,
Published 26 Aug, 2009 12:00am
Bridge collapse kills two, injures 20 in India

Bridge collapse kills two, injures 20 in India

A section of a century-old bridge collapsed, killing two people and injuring 20 others in eastern India on Tuesday following heavy monsoon rains. A truck, two cars and a cart carrying people plunged nearly 20 feet (6 meters) into the Sakari river in Navad
Published 26 Aug, 2009 12:00am
Fayyad unveils plan for Palestinian state in two years

Fayyad unveils plan for Palestinian state in two years

Palestinian prime minister Salam Fayyad on Tuesday unveiled his government's plans to create a de facto state in two years as international efforts to restart Middle East peace talks grind on. The Palestinian government is determined to build state instit
Published 26 Aug, 2009 12:00am
Strike halts South African platinum group's biggest mine

Strike halts South African platinum group's biggest mine

The world's No 2 platinum producer, Impala Platinum, said on Tuesday a strike by workers had halted its largest operations in South Africa, and it was unclear how long the industrial action would last. The strike by 10,000 workers at Impala Platinum (Impl
Published 26 Aug, 2009 12:00am
Somalia in worst humanitarian crisis in 18 years: UN

Somalia in worst humanitarian crisis in 18 years: UN

Persistent violence and a prolonged drought have plunged Somalia into its worst humanitarian crisis since civil war erupted two decades ago, with a third of its 10 million people needing relief aid, a UN report said Tuesday. One in every five children is
Published 26 Aug, 2009 12:00am
North Korea invites US envoy for nuclear talks

North Korea invites US envoy for nuclear talks

North Korea has invited the US envoy overseeing ties with the prickly state to visit for nuclear talks next month, South Korean media said on Tuesday, reaching out to Washington as the United States pushes sanctions against Pyongyang. Reclusive North Kore
Published 26 Aug, 2009 12:00am
Iran puts leading reformers on trial

Iran puts leading reformers on trial

An Iranian prosecutor called on Tuesday for "maximum punishment" of a senior reformer for acting against national security, a crime punishable by death, in the fourth mass trial of moderates after the disputed election. Saeed Hajjarian, disabled after an
Published 26 Aug, 2009 12:00am
Politicians refuse to attend Ahmadinejad's Iftar

Politicians refuse to attend Ahmadinejad's Iftar

A majority of Iranian parliament deputies refused to attend an Iftar hosted by President Mahmoud Ahmadinejad, the Tehran daily Etemad reported Tuesday. While claiming that only 20 out of the total 290 lawmakers turned up at the Iftar dinner Sunday night,
Published 26 Aug, 2009 12:00am
China still faces challenges to recovery: planner

China still faces challenges to recovery: planner

China continues to face significant challenges to its economic recovery, including weak demand for its exports, the head of the main planning agency was cited as saying on Tuesday. The comments by Zhang Ping, head of the National Development and Reform Co
Published 26 Aug, 2009 12:00am
Dubai mortgages rise in second quarter

Dubai mortgages rise in second quarter

Dubai mortgage values rose to 8 billion UAE dirhams ($2.18 billion) in the second quarter of 2009 from 7 billion dirhams in the first quarter as banks made lending more attractive, a property report said on Monday. The United Arab Emirates, of which Dubai
Published 26 Aug, 2009 12:00am
Cairn says India's targets challenging

Cairn says India's targets challenging

Cairn Energy said its large Indian oilfields would begin producing oil this week, but warned on Tuesday that meeting targets for the next stages of the development was becoming "increasingly challenging". Cairn, which also reported a swing to a loss in th
Published 26 Aug, 2009 12:00am
South Korea's central bank concerned as mortgage loans jump

South Korea's central bank concerned as mortgage loans jump

South Korean central bankers were worried that extra-loose monetary policy could pump up house price bubbles, July meeting minutes show, as second-quarter mortgage lending rose at the fastest annual pace in more than two years. Despite such concerns, all
Published 26 Aug, 2009 12:00am
ADB to lend $500 million stimulus to Philippines

ADB to lend $500 million stimulus to Philippines

The Asian Development Bank (ADB) said Monday it had approved a loan of 500 million dollars for the Philippines for short-term stimulus under a new anti-economic crisis facility. This will be the first loan under the ADB's Countercyclical Support Facility
Published 26 Aug, 2009 12:00am
Thai auto exports halved in July: trade group

Thai auto exports halved in July: trade group

Thai auto exports plummeted by nearly 50 percent year-on-year in July as overseas demand continued to decline, an industry group said Tuesday. The Federation of Thai Industries (FTI) said vehicle shipments fell by 48.68 percent year-on-year to 36,555 unit
Published 26 Aug, 2009 12:00am
Reform key to push economy to high growth: Indian Finance Minister

Reform key to push economy to high growth: Indian Finance Minister

Economic reforms are needed to steer the Indian economy to a 9 percent growth path, while the immediate challenge is to tackle poor monsoon rains, Finance Minister Pranab Mukherjee said on Tuesday. The economy will grow at around 6 percent in the current
Published 26 Aug, 2009 12:00am
Indonesia to raise tax revenue, curb evasion

Indonesia to raise tax revenue, curb evasion

Indonesia's new tax chief said on Monday he would take a tough stance against tax-dodgers in order to raise tax revenues, adding that the largest tax case in Southeast Asia's biggest economy will come to court soon. Mochamad Tjiptardjo, who took over as h
Published 26 Aug, 2009 12:00am
Russia regains foothold in Mongolia's uranium mines

Russia regains foothold in Mongolia's uranium mines

Mongolia welcomed Russia as its partner in a uranium mining venture on Tuesday as part of a wider pact to boost co-operation in infrastructure and farming, raising concerns for the Canadian miner that owns the deposit. Russian and Mongolian state-owned co
Published 26 Aug, 2009 12:00am
Sinopec speeds ahead with investment plans

Sinopec speeds ahead with investment plans

China's Sinopec Corp, the world's No 2 oil refiner, plans to keep investing at a brisk pace through 2011 though margin pressure may mean quarterly profits fall back from record levels. Sinopec will spend 120 billion yuan ($17.57 billion) in each of the ne
Published 26 Aug, 2009 12:00am
Eurozone outlook still uncertain: ECB member

Eurozone outlook still uncertain: ECB member

Signs of economic growth in Germany and France in the second quarter are positive, but the outlook for the eurozone is still uncertain, European Central Bank Executive Board Member Jose Manuel Gonzalez-Paramo said on Tuesday. "The situation is still very
Published 26 Aug, 2009 12:00am
Bangladesh to get $735 million IMF boost by September

Bangladesh to get $735 million IMF boost by September

The International Monetary Fund will allocate special drawing rights (SDRs) worth $735 million to Bangladesh by early September to strengthen its foreign exchange reserves to counter the global recession, an IMF official said on Monday.
Published 26 Aug, 2009 12:00am
J-League manager slammed as 'unqualified' by FA chief

J-League manager slammed as 'unqualified' by FA chief

J-League Urawa Reds manager Volker Finke has been slammed by Japan's football chief after chiding one of his players for not falling down when he was bumped inside the penalty area. "I cannot believe it. He is not qualified to be a manager. He should be e
Published 26 Aug, 2009 12:00am
Mauresmo wins New Haven opener

Mauresmo wins New Haven opener

Top seed Svetlana Kuznetsova and two-time major champion Amelie Mauresmo and got off to successful starts at the WTA Pilot Pen tournament on Monday. Mauresmo stopped Japanese ace Ai Sugiyama 6-4, 6-1 in the first round and Russian Kuznetsova beat China's
Published 26 Aug, 2009 12:00am
ICC's umpires rules need change: Bird

ICC's umpires rules need change: Bird

Former English test umpire Dickie Bird has joined the chorus of people imploring the International Cricket Council (ICC) to change their rules to ensure the best officials are appointed to the biggest series. Under ICC regulations, umpires are banned from
Published 26 Aug, 2009 12:00am
Pakistan wary of wounded Australians

Pakistan wary of wounded Australians

Pakistan are bracing themselves for an Australia backlash at next month's Champions Trophy in South Africa after Ricky Ponting's side lost the Ashes series to England. Pakistan are drawn in the same group as defending champions Australia and Pakistan capt
Published 26 Aug, 2009 12:00am
Fit-again Kiwis ready for Sri Lanka challenge

Fit-again Kiwis ready for Sri Lanka challenge

New Zealand will field a full-strength team in Wednesday's second cricket Test against Sri Lanka after the tourists were plagued by a stomach bug in the first match. New Zealand had 13 of their 15 players laid low by upset stomachs and viral fever during
Published 26 Aug, 2009 12:00am
Indian skipper Bhutia celebrates 100 caps with goal

Indian skipper Bhutia celebrates 100 caps with goal

India skipper Bhaichung Bhutia scored a goal to cap a memorable 100th national team appearance, leading the hosts to victory over Kyrgyzstan in a five-nation tournament. The 33-year-old striker scored off a solo effort and then earned a penalty after bein
Published 26 Aug, 2009 12:00am
Fatwa exempts Egypt players from fasting

Fatwa exempts Egypt players from fasting

Egypt's top religious institution has exempted the national football team from fasting during the holy month of Ramazan ahead of an international tournament, officials said, but the players have refused. The fatwa or religious edict, which comes ahead of
Published 26 Aug, 2009 12:00am
Liverpool slump to home defeat by Aston Villa

Liverpool slump to home defeat by Aston Villa

Liverpool lost for the second time in three Premier League matches on Monday, slumping to a 3-1 home defeat by Aston Villa. An own goal by Lucas Leiva and a glancing header from Curtis Davies gave Villa a 2-0 interval lead before Fernando Torres pulled on
Published 26 Aug, 2009 12:00am
Iraq eyes $1.2 billion fees in oil deals, 25 percent stake

Iraq eyes $1.2 billion fees in oil deals, 25 percent stake

Iraq will seek $1.2 billion in non-recoverable signature bonuses in a second round of bidding for oilfield contracts, and will take a quarter stake in the new hydrocarbon projects, Iraqi officials said on Tuesday. The first round of tenders in June disapp
Published 26 Aug, 2009 12:00am
Greek fires under control, government under attack

Greek fires under control, government under attack

Wildfires that tore through suburbs of Athens and forced thousands of people to flee their homes were contained on Tuesday as the government's handling of the disaster became an election issue. Likely to face voters early next year, the conservative gover
Published 26 Aug, 2009 12:00am
Student in Vietnam throws acid at teacher who failed him

Student in Vietnam throws acid at teacher who failed him

A former student at a Ho Chi Minh City university threw acid at a teacher who had failed him, injuring the teacher and 13 students, a doctor said Tuesday."The lecturer and one student are in critical condition," said Dr Huynh Thi Ngoc Quynh, head of the e
Published 26 Aug, 2009 12:00am
Key stock and currency market movements

Key stock and currency market movements

The latest close of key indices on major world stock exchanges and the London closing values of the euro, the Japanese yen, the British pound and gold bullion (previous day's closes in brackets).

Published 26 Aug, 2009 12:00am
Malaysian judge orders review of caning sentence

Malaysian judge orders review of caning sentence

A Malaysian Islamic appeals court judge has ordered a review of the caning sentence for a woman caught drinking alcohol, paving the way for her to be exempted from the punishment. Women's Minister Shahrizat Jalil said on Tuesday that the Chief Appeals Jud
Published 26 Aug, 2009 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Tuesday (August 25, 2009).

Published 26 Aug, 2009 12:00am
Lockerbie bomber release reignites demand for answers

Lockerbie bomber release reignites demand for answers

As the furore over the Lockerbie bomber's release subsides, calls for an independent probe into the 1988 atrocity are growing - with victims' relatives demanding answers. At the same time the bomber himself has vowed to reveal details to prove his innocen
Published 26 Aug, 2009 12:00am
Recovery of sugar advances: SBP starts strict monitoring of banks/DFIs

Recovery of sugar advances: SBP starts strict monitoring of banks/DFIs

With strict monitoring of banks and DFIs for recovery of outstanding advances against sugar stocks, the State Bank of Pakistan (SBP) has decided not to grant another extension to the sugar mills for retirement of loans obtained during the sugarcane season
Published 26 Aug, 2009 12:00am
South African runner in gender row returns home a heroine

South African runner in gender row returns home a heroine

World champion South African runner Caster Semenya, whose victory has been overshadowed by a gender testing row, returned home to a heroine's welcome on Tuesday. Furious South Africans have accused the International Association of Athletics Federations (I
Published 26 Aug, 2009 12:00am
Recovery of sugar advances: SBP starts strict monitoring of banks/DFIs

Recovery of sugar advances: SBP starts strict monitoring of banks/DFIs

With strict monitoring of banks and DFIs for recovery of outstanding advances against sugar stocks, the State Bank of Pakistan (SBP) has decided not to grant another extension to the sugar mills for retirement of loans obtained during the sugarcane season
Published 26 Aug, 2009 12:00am
Four cops killed in suicide attack in Chechnya

Four cops killed in suicide attack in Chechnya

At least four policemen were killed Tuesday by a suicide attacker in the troubled Caucasus province of Chechnya, officials said according to a report by Interfax. The suicide bomber blew himself up at a petrol station in the town of Mesker-Yurt, some 20 k
Published 26 Aug, 2009 12:00am
Recovery of sugar advances: SBP starts strict monitoring of banks/DFIs

Recovery of sugar advances: SBP starts strict monitoring of banks/DFIs

With strict monitoring of banks and DFIs for recovery of outstanding advances against sugar stocks, the State Bank of Pakistan (SBP) has decided not to grant another extension to the sugar mills for retirement of loans obtained during the sugarcane season
Published 26 Aug, 2009 12:00am
South Korean satellite fails to orbit properly

South Korean satellite fails to orbit properly

South Korea launched its first space rocket on Tuesday but failed to put a scientific satellite into its planned orbit in a setback for the country's nascent space programme. The launch was expected to rile prickly North Korea, which was hit by UN sanctio
Published 26 Aug, 2009 12:00am
Swift assistance: Pakistan fails to secure timing commitment

Swift assistance: Pakistan fails to secure timing commitment

Pakistan failed on Tuesday to secure swift aid from donors to help the cash-strapped country improve security and rebuild the north-west after an army offensive against the Taliban displaced millions of people. Donor countries pledged some $5.7 billion in
Published 26 Aug, 2009 12:00am
Maoist rebels blow up rail station, torch vehicles in India

Maoist rebels blow up rail station, torch vehicles in India

Maoist rebels carried out a spate of attacks in eastern India Tuesday, blowing up a railway station and a wedding hall and torching over a dozen trucks and vehicles, officials said. No casualties were reported in the attacks which came on the final day of
Published 26 Aug, 2009 12:00am
Swift assistance: Pakistan fails to secure timing commitment

Swift assistance: Pakistan fails to secure timing commitment

Pakistan failed on Tuesday to secure swift aid from donors to help the cash-strapped country improve security and rebuild the north-west after an army offensive against the Taliban displaced millions of people. Donor countries pledged some $5.7 billion in
Published 26 Aug, 2009 12:00am
Bangladesh grants oil, gas blocks in disputed waters

Bangladesh grants oil, gas blocks in disputed waters

Bangladesh has awarded three offshore exploration blocks to American and Irish companies to search for oil and gas in the disputed waters of the Bay of Bengal, an official said Tuesday. The country's highest cabinet committee on economic affairs awarded t
Published 26 Aug, 2009 12:00am
Swift assistance: Pakistan fails to secure timing commitment

Swift assistance: Pakistan fails to secure timing commitment

Pakistan failed on Tuesday to secure swift aid from donors to help the cash-strapped country improve security and rebuild the north-west after an army offensive against the Taliban displaced millions of people. Donor countries pledged some $5.7 billion in
Published 26 Aug, 2009 12:00am
Australian dollar lower

Australian dollar lower

The Australian dollar dipped on Tuesday as struggling Asian stocks curbed demand for riskier currencies, but gave a boost to bids for safe-haven bond futures. The Aussie eased to $0.8350, from $0.8387 here late Monday. It fell over a yen to 78.41 yen, fro
Published 26 Aug, 2009 12:00am
Rigi says US ordered attacks

Rigi says US ordered attacks

Abdolhamid Rigi who is awaiting execution in Iran said on Tuesday that his militant group received orders from the United States to launch terror attacks inside the Islamic republic. Abdolhamid Rigi, brother of shadowy Jundallah (Soldiers of God) group le
Published 26 Aug, 2009 12:00am
Asian currencies ease

Asian currencies ease

The Philippine peso hit a two-month low on Tuesday, tracking its offshore weakness as local stocks faltered, while the Indonesian rupiah fell on month-end dollar demand. Asian stocks reversed the previous day's solid gains, led by a 5 percent slide in Sha
Published 26 Aug, 2009 12:00am
Rigi says US ordered attacks

Rigi says US ordered attacks

Abdolhamid Rigi who is awaiting execution in Iran said on Tuesday that his militant group received orders from the United States to launch terror attacks inside the Islamic republic. Abdolhamid Rigi, brother of shadowy Jundallah (Soldiers of God) group le
Published 26 Aug, 2009 12:00am
Canada's dollar notches fifth straight gain

Canada's dollar notches fifth straight gain

Canada's dollar rose against the US dollar for the fifth straight session on Monday, touching its highest in more than two weeks, after retail sales topped expectations and raised optimism about the economy. But most of the gains evaporated later in the s
Published 26 Aug, 2009 12:00am
Swiss franc flat

Swiss franc flat

The Swiss franc was trading flat against the dollar and euro on Tuesday as markets were gearing up for a string of central bank speeches later in the session for clues on SNB monetary policy. Swiss National Bank Vice-Chairman Philipp Hildebrand is due to
Published 26 Aug, 2009 12:00am
Egypt postpones fresh Palestinian unity talks

Egypt postpones fresh Palestinian unity talks

Egypt postponed hosting a new round of Palestinian reconciliation talks set to take place on Tuesday, officials from the rival Hamas and Fatah factions said. Mahmoud Al-Aloul, a member of Palestinian President Mahmoud Abbas's Fatah Central Committee, said
Published 26 Aug, 2009 12:00am
Frenchman hurt in new 'exploding iPhone' incident

Frenchman hurt in new 'exploding iPhone' incident

A French security guard said Tuesday he had received a faceful of glass when the screen of his iPhone exploded, the second such reported incident in France. Yassine Bouhadi, a 26-year-old supermarket watchman from the south-eastern town of Villevieille, s
Published 26 Aug, 2009 12:00am
Dollar edges up

Dollar edges up

The dollar edged up against the euro and yen on Monday in extremely thin trade as Wall Street surrendered early gains and traders adjusted positions ahead of US consumer and housing data due this week. Solid euro zone data and an upbeat assessment on the
Published 26 Aug, 2009 12:00am
Bangladesh interbank forex and interest rates

Bangladesh interbank forex and interest rates

Interbank buy/sell rates for the taka against the dollar on Tuesday. 69.06/69.06 (previous 69.06/69.06). Call Money Rates: 0.15-2.75 percent (previous 0.10-2.75 percent).
Published 26 Aug, 2009 12:00am
Several Pakistani workers among 50 killed in Afghan blast

Several Pakistani workers among 50 killed in Afghan blast

A massive bomb ripped through the downtown area of the troubled Afghan city of Kandahar Tuesday, killing up to 50 people and wounding dozens near hotels and government offices, officials said. The truck bomb ripped through 10 residential buildings, trappi
Published 26 Aug, 2009 12:00am
Hong Kong dollar little changed

Hong Kong dollar little changed

The Hong Kong dollar was stuck in a narrow range against the US dollar on Tuesday as concerns about the volatile stock market were offset by the territory's stable currency, making it an ideal place to park funds, dealers said. The local currency traded b
Published 26 Aug, 2009 12:00am
Several Pakistani workers among 50 killed in Afghan blast

Several Pakistani workers among 50 killed in Afghan blast

A massive bomb ripped through the downtown area of the troubled Afghan city of Kandahar Tuesday, killing up to 50 people and wounding dozens near hotels and government offices, officials said. The truck bomb ripped through 10 residential buildings, trappi
Published 26 Aug, 2009 12:00am
Yen up as shares drop

Yen up as shares drop

The yen headed higher on Tuesday as share markets fell and investor interest in higher-yielding currencies ebbed, while currencies took in their stride news that Federal Reserve chief Ben Bernanke would be reappointed. A US administration official said Pr
Published 26 Aug, 2009 12:00am
New Zealand share rally

New Zealand share rally

New Zealand share prices closed 0.42 percent higher Tuesday as interest in some cyclical stocks outweighed weakness in regional markets, dealers said. The benchmark NZX-50 index rose 12.83 points to 3,080.51 on thin turnover worth 60 million dollars (41.1
Published 26 Aug, 2009 12:00am
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