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Print - 2009-09-15
RTO appoints officials for TFKs

RTO appoints officials for TFKs

Regional Tax Office, Lahore has appointed Directors/Co-ordinators/Managers at all the 30 Tax Facilitation Kiosks (TFK) being established in the region to facilitate the taxpayers for filing of Income Tax Returns for the Tax Year 2009 from 15th September,
Published 15 Sep, 2009 12:00am
Gold price down by Rs 200 per tola

Gold price down by Rs 200 per tola

Gold price on Monday declined to Rs 30,500 per tola from historic high of Rs 30,700 on the local market, traders said. Price of 10 grams gold has also dipped to Rs 26,142 from Rs 26,342, while its global price was quoted at $996 per ounce down from $1006.
Published 15 Sep, 2009 12:00am
Ban imposed on operation of illegal hydrants

Ban imposed on operation of illegal hydrants

The government of Sindh, in exercise of the powers conferred under section 144 Cr.PC, has imposed ban on operation of all illegal hydrants/water connections within the limits of City District Government Karachi for a period of 60 days with immediate effec
Published 15 Sep, 2009 12:00am
KPT, CDGK row over responsibility: piles of coal posing health hazards

KPT, CDGK row over responsibility: piles of coal posing health hazards

The people of Keamari, particularly the commuters, are nowadays facing a potential health and environmental hazard, as over a dozen small mountains of coal are lying in the open and awaiting disposal at MA Jinnah Road from Jinnah Bridge to Khamis Gate for
Published 15 Sep, 2009 12:00am
Sugar shoots up to Rs 60 per kg

Sugar shoots up to Rs 60 per kg

Retail price of sugar surged to between Rs 55 and Rs 60 per kg because of the shortage of the commodity on the wholesale market against the soaring demand, traders said. In many parts of the city, sugar has become unavailable on the retail side because th
Published 15 Sep, 2009 12:00am
Alleged cartelisation: CCP to give presentation to ECC today

Alleged cartelisation: CCP to give presentation to ECC today

The Competition Commission of Pakistan (CCP) will give presentation to the Economic Coordination Committee (ECC) of the Cabinet on Tuesday (today) in the wake of reported cartelisation by sugar, cars, cement and milk industries. Sources told Business R
Published 15 Sep, 2009 12:00am
Social security hospitals being provided full facilities

Social security hospitals being provided full facilities

Provincial Minister for Labour and Human Resource, Muhammad Ashraf Khan Sohna has said that all social security hospitals in the province are being provided with necessary healthcare facilities so that complete medical cover could be ensured to a maximum
Published 15 Sep, 2009 12:00am
Provision of books to students: PTB asked to evolve strategy

Provision of books to students: PTB asked to evolve strategy

Chief Minister Punjab Muhammad Shahbaz Sharif has directed Punjab Textbook Board (PTB) to evolve a comprehensive strategy for provision of books to students, as it is essential for polishing their talent and equipping them with the latest knowledge. He wa
Published 15 Sep, 2009 12:00am
Oil price hedging: tread carefully into new waters

Oil price hedging: tread carefully into new waters

The Economic Coordination Committee (ECC) of the Cabinet is scheduled to discuss proposals for oil hedging, submitted by the Deutsche Bank as the appointed advisor. Given the unprecedented fluctuations in international oil prices that peaked in July 2008
Published 15 Sep, 2009 12:00am
Musharraf's juicy stories

Musharraf's juicy stories

At any point of time, London acts as a 'safe haven' - mostly in the name of political asylum - for some two thousand fugitives from justice. If and when convicted (highly unlikely to be tried in the first place) Pervez Musharraf, like most of them, may re
Published 15 Sep, 2009 12:00am
The inability to see the obvious

The inability to see the obvious

In spite of all claims about economic policy-making being tuned to reducing external dependence, the one distortion that is routinely regretted by the policy-makers, without finding ways of containing, it is the trade deficit. For unexplained reasons, all
Published 15 Sep, 2009 12:00am
Keep the land in the country

Keep the land in the country

This is a two-part article discussing both the pros and cons of the government's plan to lease out farming land to foreign investors. The second part will be published tomorrow. The recent news that Saudi Arabia is negotiating with Pakistan to lease agric
Published 15 Sep, 2009 12:00am
Parc working on new sugarcane varieties

Parc working on new sugarcane varieties

Pakistan Agricultural Research Council (Parc) is actively involved to develop new varieties of sugarcane to help overcome shortage of sugar in the country. "We are working diligently to develop new varieties of sugarcane and have already developed varieti
Published 15 Sep, 2009 12:00am
Startling disclosures

Startling disclosures

The media is flooded with starling disclosures by retired Military Officers, who served on very highly sensitive posts during the period of Martial Law Dictators. It is ironical that when our country is in the grip of various internal and external problem
Published 15 Sep, 2009 12:00am
Sugar crisis

Sugar crisis

At present, the country is facing a crisis of sugar, with higher prices and shortages, and the government is forced to further import the commodity and will have to spend a huge amount, in view of the shortage of the commodity world-wide. This is, in fact
Published 15 Sep, 2009 12:00am
Pakistanis get first mobile chat messenger

Pakistanis get first mobile chat messenger

Pakistani net users can get MiM (Mobile Instant Messenger) Max99, which is Pakistan's first java-based mobile instant chat messenger, compatible with most of the GPRS enabled mobile phones, pocket PCs and other mobile devices. Max99 messenger is cheaper a
Published 15 Sep, 2009 12:00am
PTV to telecast live Mehfil-e-Shabina from Ramazan 26

PTV to telecast live Mehfil-e-Shabina from Ramazan 26

Keeping alive its past traditions, Pakistan Television would telecast live three-day Mehfil-e-Shabina from September 17 (Ramazanul Mubarak 26). Central point of the Mehfil-e-Shabina would be Faisal Mosque Islamabad.
Published 15 Sep, 2009 12:00am
International Democracy Day being marked today

International Democracy Day being marked today

The world is celebrating the democracy day on Tuesday (today), September 15, to underline the importance of democracy, highlight the challenges it faces and project opportunities it offers.
Published 15 Sep, 2009 12:00am
WHO-supported study shows 2.6 million young people die every year

WHO-supported study shows 2.6 million young people die every year

A World Health Organisation (WHO) supported study of global and regional patterns of mortality in young people shows 2.6 million young people die every year. The first study of global patterns of death among people aged between 10-24 years of age has foun
Published 15 Sep, 2009 12:00am
Balochistan provincial assembly working without legislative committees

Balochistan provincial assembly working without legislative committees

Balochistan Assembly is the only provincial assembly out of total four provincial assemblies of the country which is working without the legislative committees particularly Public Accounts Committee (PAC). APP learnt on Monday that other three provincial
Published 15 Sep, 2009 12:00am
Pakistan, Malaysia for formation of Joint Business Council

Pakistan, Malaysia for formation of Joint Business Council

Federation of Pakistan Chamber of Commerce and Industry (FPCCI) and National Chamber of Commerce and Industry of Malaysia (NCCIM) will make efforts for the formation of Joint Business Council to bridge private businesses through their Chambers of Commerce
Published 15 Sep, 2009 12:00am
PIA asked not to accept Palpa's 'unjust' demands

PIA asked not to accept Palpa's 'unjust' demands

Senate Standing Committee on Defence and Defence Production asked the PIA management not to give in to blackmailing tactics of Palpa especially with regard to unjustified hefty increase in salaries, which would further increase the economic crunch being f
Published 15 Sep, 2009 12:00am
US MIDDAY: wheat falls, corn steadies

US MIDDAY: wheat falls, corn steadies

Chicago Board of Trade wheat futures fell early Monday, pressured by ample US and global supplies, traders said. CBOT wheat closed higher Friday in a mild rebound after notching contract lows last week. September wheat has not traded as of 11 am; December
Published 15 Sep, 2009 12:00am
US MIDDAY: soybean and soyameal fall

US MIDDAY: soybean and soyameal fall

Front-month September soyabean and soyameal futures on the Chicago Board of Trade plunged at midsession on Monday as traders scrambled to exit positions ahead of the contracts' expiration at midday, traders said. The contracts were trading without daily l
Published 15 Sep, 2009 12:00am
US MIDDAY: copper plunges

US MIDDAY: copper plunges

Copper sank to a near two-week low below $2.80 a lb in New York futures trade early on Monday, as a rebound in the dollar helped to extend a recent price pullback in the industrial metal from overextended levels, brokers said. Copper for December delivery
Published 15 Sep, 2009 12:00am
US MIDDAY: gold slips

US MIDDAY: gold slips

US gold futures lost ground when the dollar firmed early on Monday, but mostly held above $1,000 an ounce, traders said. December gold was down $3.60 at $1,002.80 an ounce on the COMEX division of the New York Mercantile Exchange. The range seesawed aroun
Published 15 Sep, 2009 12:00am
Gold slips in Europe

Gold slips in Europe

Gold came under pressure in Europe on Monday from a recovery in the dollar index and fears the metal's run-up to 18-month highs last week was overdone. The precious metal recovered some of its early losses, however, as the dollar retreated from highs, all
Published 15 Sep, 2009 12:00am
US MIDDAY: coffee, sugar jump; cocoa down

US MIDDAY: coffee, sugar jump; cocoa down

Summaries of the ICE Futures US cocoa, coffee and sugar markets early on Monday. December arabica coffee contract surged 4.05 cents or 3.2 percent to $1.3060 per lb at 10:59 am EDT (1459 GMT). Wide session range from $1.2510 to $1.3130. Arabica futures re
Published 15 Sep, 2009 12:00am
London sugar and coffee higher

London sugar and coffee higher

Cocoa futures fell in a slight correction to last week's contract high in London and 14-month peaks in New York, easing along with other commodity markets. Sugar futures rose, however, buoyed by bullish fundamentals while arabica coffee prices advanced on
Published 15 Sep, 2009 12:00am
Oil falls slightly

Oil falls slightly

Oil fell on Monday, weighed down by trader concerns that the top US commodities exchange could tighten enforcement of position limits and about a US decision to impose special duties on Chinese tires. The duties could open the door for a host of trade com
Published 15 Sep, 2009 12:00am
Copper slides

Copper slides

Copper slid to its lowest in more than a week on Monday as analysts started to talk about falling imports and the possibility of higher exports by China, the world's largest consumer of industrial metals. Aluminium and nickel fell to $1,802 a tonne and $1
Published 15 Sep, 2009 12:00am
FTSE posts highest level in nearly a year

FTSE posts highest level in nearly a year

Britain's top share index closed up 0.2 percent on Monday as buoyant banks and defensive stocks countered weak miners and oils, keeping the index above 5,000 amid optimism over the pace of the rally seen since March. The FTSE 100 closed up 7.38 points at
Published 15 Sep, 2009 12:00am
New York cotton futures settle higher

New York cotton futures settle higher

Cotton futures closed higher on Monday on another round of investor short-covering as fiber contracts built on their gains of last week and may edge up in the days ahead, brokers said. The December cotton contract in New York rose 0.97 cent to conclude at
Published 15 Sep, 2009 12:00am
Monday's midday trade: Wall Street flat amid US-China trade spat

Monday's midday trade: Wall Street flat amid US-China trade spat

US stocks were little changed on Monday after the United States imposed special duties on Chinese tires, raising investors' concerns about trade friction between the two economic powers. The decision by US President Barack Obama could open the door to a h
Published 15 Sep, 2009 12:00am
European CDS edge wider after week-long rally

European CDS edge wider after week-long rally

European credit default swaps widened slightly on Monday, breaking a week-long tightening streak spurred partly by a strong advance in equity markets. There are concerns the rally in credit spreads might have run too far, especially as October is seen as
Published 15 Sep, 2009 12:00am
European CDS edge wider after week-long rally

European CDS edge wider after week-long rally

European credit default swaps widened slightly on Monday, breaking a week-long tightening streak spurred partly by a strong advance in equity markets. There are concerns the rally in credit spreads might have run too far, especially as October is seen as
Published 15 Sep, 2009 12:00am
Indian shares slip

Indian shares slip

Indian shares fell 0.31 percent on Monday, snapping a six-day rally as investors took profits with the markets at a 15-month high, dealers said. The benchmark 30-share Sensex index fell 50.11 points to 16,214.19. The markets opened weak and remained slugg
Published 15 Sep, 2009 12:00am
Libor rates at record lows; sterling OIS tightens

Libor rates at record lows; sterling OIS tightens

A crucial sterling interest rate spread tightened to its narrowest level in two years on Monday, suggesting a marked recovery in confidence since the Lehmans crisis a year ago shattered financial markets. Stronger market conditions were also reflected in
Published 15 Sep, 2009 12:00am
Banks, oils drag European shares lower

Banks, oils drag European shares lower

European shares fell on Monday, snapping six days of gains, as weaker banks and energy shares outpaced positive food producers, while a US-China trade row also hurt sentiment. The pan-European FTSEurofirst 300 index of top shares closed down 0.3 percent a
Published 15 Sep, 2009 12:00am
Malaysian shares down

Malaysian shares down

Malaysian shares closed down 0.41 percent Monday following losses on regional bourses and Wall Street overnight, dealers said. The Kuala Lumpur Composite Index shed 4.92 points to close at 1,203.36 with a volume of 547.71 million shares worth 951.26 milli
Published 15 Sep, 2009 12:00am
Sterling slips

Sterling slips

Sterling retreated on Monday from one-week highs hit against the dollar as weaker equity markets spurred profit-taking in riskier currencies and investors braced for a raft of UK economic data later this week. Sterling also lost ground versus the euro on
Published 15 Sep, 2009 12:00am
Dollar gains broadly in London

Dollar gains broadly in London

The dollar gained against most currencies on Monday as falling global stocks spurred profit taking and the United States and China became embroiled in their latest trade spat. A 1.1 percent fall in European shares lifted the dollar half a percent on the d
Published 15 Sep, 2009 12:00am
Indian rupee falls

Indian rupee falls

The Indian rupee dropped to its lowest level in more than a week on Monday, pushed around by choppy shares and a strong dollar, but remained within the range it has traded for the past month. The partially convertible rupee closed at 48.74/75 per dollar,
Published 15 Sep, 2009 12:00am
Steinmeier goes on attack after German TV debate

Steinmeier goes on attack after German TV debate

Social Democratic challenger Frank-Walter Steinmeier followed up an assured performance in a pre-election debate by accusing Chancellor Angela Merkel on Monday of lacking substance and new ideas. Steinmeier's SPD have been trailing Merkel's conservatives
Published 15 Sep, 2009 12:00am
IAEA formally appoints Japan's Amano as new chief

IAEA formally appoints Japan's Amano as new chief

The International Atomic Energy Agency (IAEA) on Monday formally appointed Yukiya Amano of Japan as its new director general from December 1, succeeding Mohamed ElBaradei. The 150 member states of the UN nuclear watchdog approved Amano - who has been Toky
Published 15 Sep, 2009 12:00am
Iraqi court orders release of shoe thrower

Iraqi court orders release of shoe thrower

An Iraqi court on Monday ordered the release from jail of a reporter who attained world-wide fame when he hurled his shoes at then US President George W. Bush last December, his lawyer said. Once an obscure TV reporter, Muntazer al-Zaidi had been expected
Published 15 Sep, 2009 12:00am
US cannot halt Afghanistan, Iraq war, says Osama bin Ladin

US cannot halt Afghanistan, Iraq war, says Osama bin Ladin

Osama bin Laden warned President Barack Obama that he is "powerless" to halt the wars in Afghanistan and Iraq and must rethink his policy on Israel, in the al Qaeda leader's first message for three months. The message, which accused "neo-conservatives" of
Published 15 Sep, 2009 12:00am
Iran's talks with world powers to start next month

Iran's talks with world powers to start next month

Iran and world powers seeking to resolve a dispute over Tehran's nuclear programme will start talks on October 1, in what a senior US official described as an "important first step." In Vienna, the head of the United Nations nuclear watchdog urged the UN
Published 15 Sep, 2009 12:00am
Jupiter had temporary moon for 12 years

Jupiter had temporary moon for 12 years

Jupiter snared a passing comet in the middle of the last century, eventually releasing it 12 years later, astronomers reported on Monday. Data presented at the European Planetary Science Congress in Potsdam, near Berlin, showed that the biggest planet of
Published 15 Sep, 2009 12:00am
US attends UN rights council for first time

US attends UN rights council for first time

The United States attended its first formal meeting of the UN Human Rights Council on Monday, saying it will try to promote dialogue at a body it once avoided and heavily criticised. The US was elected in June to the 47-nation council, which was criticise
Published 15 Sep, 2009 12:00am
Gaza water supplies in danger of 'collapse': UN

Gaza water supplies in danger of 'collapse': UN

The Gaza Strip's underground water supplies are "in danger of collapse" following years of overuse and a devastating war Israel waged in the territory at the turn of the year, the UN said Monday. "The underground water supplies, upon which 1.5 million Pal
Published 15 Sep, 2009 12:00am
Honduras standoff delays Human Rights Council start

Honduras standoff delays Human Rights Council start

Disagreement over who should represent Honduras at the United Nations marred the opening session of the UN Human Rights Council on Monday, which will tackle the heated question alongside Gaza and other issues. Latin American delegations led by Argentina a
Published 15 Sep, 2009 12:00am
Jet makes emergency foam landing at German airport

Jet makes emergency foam landing at German airport

A passenger jet made an emergency landing Monday on a protective layer of foam at Germany's Stuttgart airport after having problems with its landing gear. One passenger was lightly injured and a stewardess was taken to a hospital for observation, said Con
Published 15 Sep, 2009 12:00am
Netanyahu calls for tougher sanctions now on Iran

Netanyahu calls for tougher sanctions now on Iran

Israeli Prime Minister Benjamin Netanyahu said on Monday the time had come for tougher sanctions against Iran over its nuclear programme. "I believe that now is the time to start harsh sanctions against Iran - if not now then when? These harsh sanctions c
Published 15 Sep, 2009 12:00am
Bangladeshis protest offshore gas-leasing to foreign firms

Bangladeshis protest offshore gas-leasing to foreign firms

A six-hour strike called by a leftist citizens' group protesting a government decision to lease three offshore gas blocks to foreign companies partially disrupted business activity Monday in the Bangladesh capital.The demonstrators urged the government to
Published 15 Sep, 2009 12:00am
Clijsters caps comeback with US Open win

Clijsters caps comeback with US Open win

Kim Clijsters of Belgium won the US Open for the second time on Sunday, defeating Caroline Wozniacki of Denmark 7-5, 6-3 to complete one of the most stunning comebacks in modern sports history. In so doing, she became the first mother to win a Grand Slam
Published 15 Sep, 2009 12:00am
Strauss tells England to get over Pietersen and Flintoff

Strauss tells England to get over Pietersen and Flintoff

England captain Andrew Strauss says the ongoing absence of star players Kevin Pietersen and Andrew Flintoff cannot be used as an excuse for his side's poor one-day international (ODI) form. Top-order batsman Pietersen (Achilles) and all-rounder Flintoff (
Published 15 Sep, 2009 12:00am
Pakistan can beat any team, says Miandad

Pakistan can beat any team, says Miandad

Javed Miandad said Monday Pakistan is blessed with the best bowling attack in the world and can beat any team provided the squad overcomes its batting problems. Pakistani players are immersed in a five-day training camp in preparation for next week's Cham
Published 15 Sep, 2009 12:00am
Pakistan to play New Zealand in UAE

Pakistan to play New Zealand in UAE

Pakistan will play four one-day internationals against New Zealand in Abu Dhabi and two Twenty20 matches in Dubai next month, an official said Monday. "We have held successful discussions with the United Arab Emirates (UAE) officials and have planned four
Published 15 Sep, 2009 12:00am
Liverpool seals 'largest sponsor deal' in club's history

Liverpool seals 'largest sponsor deal' in club's history

Liverpool football club announced late Sunday a sponsorship deal with British bank Standard Chartered, reportedly worth 80 million pounds over four years. The deal starting in July 2010 was the "largest commercial agreement in Liverpool's history," a stat
Published 15 Sep, 2009 12:00am
Hong Kong dollar hovers near upper limit

Hong Kong dollar hovers near upper limit

The Hong Kong dollar inched higher but held within a narrow range on Monday as market attention was fixed on a steady stream of IPO activity. The local currency traded between 7.7501 and 7.7503 on the day, near the upper end of its tight band to the US do
Published 15 Sep, 2009 12:00am
Australian dollar retreats from one-year high

Australian dollar retreats from one-year high

The Australian dollar pulled away from recent one-year highs on Monday, dragged down by bout of short covering in US dollar positions and by lower commodity prices and stock markets. The Aussie fell to around $0.8562, from $0.8643 late on Friday, and down
Published 15 Sep, 2009 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Monday. 69.06/69.06 (previous 69.06/69.06). Call Money Rates: 3.00-7.50 percent (previous 2.75-7.25 percent).
Published 15 Sep, 2009 12:00am
Yuan ends flat

Yuan ends flat

The yuan ended nearly flat against the dollar on Monday after the US currency hovered around one-year lows against a basket of currencies, but trade tensions between China and the United States checked gains. The US dollar index rose 0.58 percent to 77.05
Published 15 Sep, 2009 12:00am
Taiwan dollar falls

Taiwan dollar falls

The Taiwan dollar weakened on Monday, after hitting a three-month high on Friday, due to foreign fund outflows as the stock market fell. Investors were also prompted to take profit in risky assets after Wall Street ended five days of gains in the previous
Published 15 Sep, 2009 12:00am
Dollar climbs

Dollar climbs

The dollar rose broadly on Monday with the Australian and New Zealand dollars down sharply as speculators covered short positions that had pushed the greenback to one-year lows. The higher-yielding Australian dollar lost about 1 percent against the dollar
Published 15 Sep, 2009 12:00am
Asian currencies fall

Asian currencies fall

The Indian rupee and Indonesian rupiah were Asia's biggest losers on Monday as a broad bout of profit-taking helped the US dollar recover part of more than a week-long downtrend. Meanwhile, spreads remained wide between non-deliverable forwards (NDFs) on
Published 15 Sep, 2009 12:00am
Swiss franc slips

Swiss franc slips

The Swiss franc was slightly firmer against the euro on Monday, but pulled back from a one year high against the dollar as the greenback rallied against major currencies after plumbing year lows on Friday. The franc was bid up against the euro compared to
Published 15 Sep, 2009 12:00am
China shares up on unfrozen IPO funds; Hong Kong shares down

China shares up on unfrozen IPO funds; Hong Kong shares down

Hong Kong shares fell 1.08 percent on Monday, tracking a softer tone in overseas markets and ignoring a firmer China market as investors were reluctant to bet on further gains by local stocks after the recent rally. The Hong Kong market gained more than 1
Published 15 Sep, 2009 12:00am
Australian shares fall 1.41 percent

Australian shares fall 1.41 percent

Australian share prices closed down 1.41 percent in thin trade on Monday as the market followed negative leads from Wall Street and Asia, dealers said. The benchmark S&P/ASX200 index fell 65 points to 4,531.1, while the broader All Ordinaries index droppe
Published 15 Sep, 2009 12:00am
China regulator to review IPOs for Nasdaq-style board

China regulator to review IPOs for Nasdaq-style board

China's securities regulator will review initial public offering applications this week from seven companies seeking to list on the nation's planned Nasdaq-style market, state media reported Monday. The firms aim to raise a combined 2.2 billion yuan (322.
Published 15 Sep, 2009 12:00am
Philippines shares lower

Philippines shares lower

Philippines share prices closed 1.71 percent lower on Monday on profit-taking, dealers said. The composite index fell 49.10 points to close at 2,821.73. The all-shares index shed 1.2 percent, or 22.28 points, to close at 1,800.66. A total of 4.68 million
Published 15 Sep, 2009 12:00am
Taiwan stocks post biggest loss

Taiwan stocks post biggest loss

Taiwan stocks ended 1.09 percent lower on Monday, posting their worst single-day drop in two weeks, led by tech heavyweights such as AU Optronics on concerns about their fourth-quarter outlook. The main TAIEX share index finished 80.19 points lower at 7,2
Published 15 Sep, 2009 12:00am
Singapore shares fall

Singapore shares fall

Singapore shares closed 1.54 percent lower Monday, dragged down by tumbling property stocks after the government announced new measures to curb real estate speculation. The blue chip Straits Times Index fell 41.29 points to 2,639.74 on volume of 2.40 bill
Published 15 Sep, 2009 12:00am
Nikkei slides

Nikkei slides

Japan's Nikkei stock average fell more than two percent in moderate trade on Monday, with Toyota Motor Corp and other exporters battered as the dollar hit a 7-month low against the yen. But Japan Airlines (JAL) climbed nearly 8 percent following news that
Published 15 Sep, 2009 12:00am
Thai share lower

Thai share lower

The Thai stock market lost 1.91 percent Monday in line with regional markets and a stumble on Wall Street last week, an analyst said. The Stock Exchange of Thailand (SET) composite index fell 13.49 points to close at 694.32, while the blue chip SET-50 ind
Published 15 Sep, 2009 12:00am
Seoul shares off year-high

Seoul shares off year-high

Seoul shares retreated from their yearly high on Monday, with Hankook Tire hit hard after a US decision to slap steep duties on tire imports from China sparked concerns about competition in export markets. Technology stocks, including Samsung Electronics
Published 15 Sep, 2009 12:00am
JGBs gain

JGBs gain

Japanese government bonds gained on Monday, with the five-year yield dropping to a four-year low, after the yen's broad surge sent Tokyo shares sharply lower. The yen's rise also fanned deflation concerns as a stronger Japanese currency reduces the cost o
Published 15 Sep, 2009 12:00am
New Zealand shares end 0.27 percent lower

New Zealand shares end 0.27 percent lower

New Zealand share prices closed 0.27 percent lower on Monday in typically lacklustre trading at the start of the week, dealers said. The benchmark NZX-50 index fell 8.51 points to 3,128.67 on thin turnover worth 54.4 million dollars (38.0 million US). The
Published 15 Sep, 2009 12:00am
JGBs gain

JGBs gain

Japanese government bonds gained on Monday, with the five-year yield dropping to a four-year low, after the yen's broad surge sent Tokyo shares sharply lower. The yen's rise also fanned deflation concerns as a stronger Japanese currency reduces the cost o
Published 15 Sep, 2009 12:00am
Cambodia helped by huge Chinese investment: Prime Minister

Cambodia helped by huge Chinese investment: Prime Minister

Cambodian Prime Minister Hun Sen said Monday that a total of 6.7 billion dollars in Chinese loans and investment capital is being used to rebuild the country's infrastructure. Hun Sen said the money was being spent on development work including six hydrop
Published 15 Sep, 2009 12:00am
Indonesian shares down

Indonesian shares down

Indonesian shares ended 1.38 percent lower Monday on profit-taking in banks and commodity-related shares and ahead of end-of-Ramazan holidays, dealers said. The Jakarta Composite Index lost 33.24 points to 2,382.70.
Published 15 Sep, 2009 12:00am
Former BoE member astounded US government didn't save Lehman

Former BoE member astounded US government didn't save Lehman

The former deputy Governor of the Bank of England said he was "astounded" the US government let Lehman Brothers go under, and that the bank's collapse marked a clear moment when people lost confidence in the markets. Sir John Gieve said in an interview wi
Published 15 Sep, 2009 12:00am
South Korea's finance minister reaffirms rate rise Premature

South Korea's finance minister reaffirms rate rise Premature

The debt-servicing ability of South Koreans improved in the second quarter, reinforcing the case for an early interest rate increase, but the finance minister reaffirmed that it was too soon to lift borrowing costs. The financial assets of South Koreans r
Published 15 Sep, 2009 12:00am
Dutch may continue stimulus spending into 2011

Dutch may continue stimulus spending into 2011

The Dutch government could continue stimulating the economy into 2011 if there is little or no economic growth, Dutch Finance Minister Wouter Bos said in a television interview on Monday. "We have some measures continuing into 2010. If there is not suffic
Published 15 Sep, 2009 12:00am
Gatehouse Islamic bank to make money next year

Gatehouse Islamic bank to make money next year

British Islamic bank Gatehouse expects to turn in a profit next year and will become more aggressive in its pursuit of deals, the group's new chief executive told Reuters in an interview. Richard Thomas - the bank's head after its Kuwaiti owner The Securi
Published 15 Sep, 2009 12:00am
China tells local governments use or lose stimulus cash

China tells local governments use or lose stimulus cash

China's finance ministry on Monday ordered local governments to use money allotted to them under a 4 trillion yuan ($585 billion) stimulus package quickly and efficiently, or else risk losing out on future spending. The central government could "delay or
Published 15 Sep, 2009 12:00am
Wipro sees pick-up in European business in second quarter

Wipro sees pick-up in European business in second quarter

Wipro Ltd, India's No 3 outsourcing firm, is seeing a pick-up in growth momentum in Europe in this quarter on increased demand and stability in billing rates, a senior official said on Monday. Wipro saw good opportunities in Europe as some economies reviv
Published 15 Sep, 2009 12:00am
Vietnam to hold base rate at seven percent for rest of year

Vietnam to hold base rate at seven percent for rest of year

Vietnam's central bank plans to hold its benchmark base rate unchanged at 7 percent for the rest of the year, a state-run newspaper on Monday quoted a bank official as saying. The newspaper Thoi Bao Kinh Te Vietnam (Vietnam Economic Times) quoted Nguyen N
Published 15 Sep, 2009 12:00am
Tanzania to hit 2009 GDP growth target

Tanzania to hit 2009 GDP growth target

Tanzania will achieve its economic growth forecast of 5 percent in 2009 thanks to tourism receipts and a rise in the value of its agricultural exports, central bank governor Benno Ndulu said on Monday. Tanzania, the second largest economy in the five-nati
Published 15 Sep, 2009 12:00am
Cadbury steps up defence, third quarter seen brought forward

Cadbury steps up defence, third quarter seen brought forward

British bid target Cadbury is set to beef up its defence against Kraft this week as CEO Todd Stitzer addresses investors and it ponders an early third-quarter update, analysts and fund managers said. Stitzer speaks at a long-arranged Stanford Bernstein co
Published 15 Sep, 2009 12:00am
Japan MOF watching currency moves closely

Japan MOF watching currency moves closely

Japan's top finance bureaucrat Yasutake Tango said on Monday that officials are watching currency moves closely but declined to comment on specific levels. The yen briefly hit a seven-month high against the dollar on Monday, while the greenback fell broad
Published 15 Sep, 2009 12:00am
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