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Nov 24, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2009-09-30
US MIDDAY: gold drops

US MIDDAY: gold drops

US gold futures dropped slightly in choppy trade on Tuesday as a dollar rise prompted bullion investors to lock in profits, but strong technical support should keep the metal from falling further. December gold futures down $1.20 to $992.90 an ounce at 10
Published 30 Sep, 2009 12:00am
US MIDDAY: soya turns down

US MIDDAY: soya turns down

Chicago Board of Trade soyabeans turned down early on Tuesday after an early climb on outlooks for US farmers to harvest a record large soya crop, traders said. November soya was down 2-3/4 cents at $9.16-3/4 a bushel by 10:13 am CDT.
Published 30 Sep, 2009 12:00am
US MIDDAY: copper rises

US MIDDAY: copper rises

US copper futures edged higher early on Tuesday after data showing an unexpected drop in consumer confidence countered better-than-expected housing data, leaving prices mired in narrow ranges. Copper for December delivery up 1.00 cent at $2.7370 a lb by 1
Published 30 Sep, 2009 12:00am
US MIDDAY: sugar rallies; coffee and cocoa lower

US MIDDAY: sugar rallies; coffee and cocoa lower

Summaries of the ICE Futures US cocoa, coffee and sugar markets early on Tuesday. December arabica coffee contract fell 1.20 cents to $1.2595 per lb at 11:10 am EDT (1510 GMT). Session range from $1.2560 to $1.2740. Arabica coffee futures weak on the firm
Published 30 Sep, 2009 12:00am
US MIDDAY: wheat plummets, corn up

US MIDDAY: wheat plummets, corn up

Wheat futures fell sharply at the Chicago Board of Trade early on Tuesday amid pressure from expectations for growing supplies amid continued light demand, traders said. At 11:24 am CDT (1624 GMT), CBOT December wheat was down 9 cents at $4.46-3/4 a bushe
Published 30 Sep, 2009 12:00am
Gold recovers in London; further losses on the card

Gold recovers in London; further losses on the card

Gold recovered from earlier losses on Tuesday but analysts expect the generally higher dollar to weigh on sentiment and possibly trigger a further sharp sell-off. Spot gold was bid at $990.10 a troy ounce at 1432 GMT from $989.95 late in New York on Monda
Published 30 Sep, 2009 12:00am
London sugar hits record high

London sugar hits record high

December white sugar ended $17.50 or nearly 3 percent higher at $611.00 per tonne on Tuesday after soaring to a record peak for the front month of $617.70. Market buoyed by concerns about excessive rains during harvesting in Brazil. March cocoa ended 12 p
Published 30 Sep, 2009 12:00am
Oil falls slightly

Oil falls slightly

Oil prices fell slightly on Tuesday as US consumer confidence data weighed on markets and the government revised downward US demand for July. US consumer confidence fell unexpectedly in September as the worst job prospects in 26 years fuelled worries over
Published 30 Sep, 2009 12:00am
Copper stays flat on Chinese demand concern

Copper stays flat on Chinese demand concern

Copper traded flat on Tuesday after supportive buying from China waned as the world's top metals consumer approaches a holiday period, while investors assessed the latest macro data from the United States. Copper for three-months delivery on the London Me
Published 30 Sep, 2009 12:00am
Shanghai copper up

Shanghai copper up

Shanghai copper rose 1.3 percent on Tuesday and London futures traded off the previous session's near six-week low as Chinese investors wind down ahead of National Day and Autumn Festival holidays. Market open interest across Shanghai copper stands at 338
Published 30 Sep, 2009 12:00am
US copper lower

US copper lower

US copper futures ended lower on Monday but up from their lowest levels in more than five weeks as a stronger tone in equities helped stem early pressure from rising inventories and slowing Chinese demand. Copper for December delivery shed 1.35 cents to c
Published 30 Sep, 2009 12:00am
New York cotton ends lower

New York cotton ends lower

Cotton futures closed lower on Tuesday on investor sales as technical pressure and possible harvest pressure depressed fibre contracts, with brokers saying the next move will depend on outside markets and the dollar. The December cotton contract declined
Published 30 Sep, 2009 12:00am
FTSE closes lower

FTSE closes lower

Britain's leading share index closed 0.1 percent lower on Tuesday as disappointing US data, falls from miners and index heavyweight Vodafone outweighed buoyant financials. The FTSE 100 closed 5.98 points, or 0.1 percent, lower at 5,159.72, after a choppy
Published 30 Sep, 2009 12:00am
European CDS slightly tightened

European CDS slightly tightened

European credit default swap spreads were slightly tighter on Tuesday, while spreads on European travel company TUI were boosted strongly by the company's refinancing. By 1505 GMT, the investment-grade Markit iTraxx Europe index was at 84.50 basis points,
Published 30 Sep, 2009 12:00am
European CDS slightly tightened

European CDS slightly tightened

European credit default swap spreads were slightly tighter on Tuesday, while spreads on European travel company TUI were boosted strongly by the company's refinancing. By 1505 GMT, the investment-grade Markit iTraxx Europe index was at 84.50 basis points,
Published 30 Sep, 2009 12:00am
Indian shares gain

Indian shares gain

Indian shares rose 0.96 percent on Tuesday as fund buying resumed on the back of global recovery hopes after an overnight rally on Wall Street, dealers said. The benchmark 30-share Sensex index closed 159.91 points higher at 16,852.91. The market opened s
Published 30 Sep, 2009 12:00am
Tuesday's midday trade: Wall Street dips

Tuesday's midday trade: Wall Street dips

US stocks fell slightly on Tuesday after data on consumer confidence and home prices gave a mixed picture of the economy. "When a bad piece of data comes out, especially after a run like this, people tend to be hesitant," said Doug Roberts, chief investme
Published 30 Sep, 2009 12:00am
Philippine bonds up from three-day fall; new issue eyed

Philippine bonds up from three-day fall; new issue eyed

Philippine sovereign bonds bounced from a three-day fall, as gains in stocks sparked some bargain hunting, but persistent market talk that the government may issue global debt before the end of the year capped gains. "Prices have come down a bit in the la
Published 30 Sep, 2009 12:00am
Philippine bonds up from three-day fall; new issue eyed

Philippine bonds up from three-day fall; new issue eyed

Philippine sovereign bonds bounced from a three-day fall, as gains in stocks sparked some bargain hunting, but persistent market talk that the government may issue global debt before the end of the year capped gains. "Prices have come down a bit in the la
Published 30 Sep, 2009 12:00am
Interbank euro borrowing costs near daily lows

Interbank euro borrowing costs near daily lows

The interbank cost of borrowing euros held near daily lows on Tuesday as the ECB prepared to launch an offer of long-term funding while UK consumer lending stayed subdued despite central bank efforts to get cash circulating. In the United States, an index
Published 30 Sep, 2009 12:00am
Sterling strengthens

Sterling strengthens

Sterling strengthened on Tuesday after it emerged that the Bank of England may not be planning to lower the interest rate it pays on commercial banks' reserves any time soon, a move that would have effectively loosened monetary policy further.
Published 30 Sep, 2009 12:00am
Indian rupee weakens

Indian rupee weakens

The Indian rupee weakened on Tuesday on customary month-end dollar buying by refiners to pay for imports, but higher share prices helped check its losses. The partially convertible rupee ended at 48.10/11 per dollar, about 0.3 percent weaker than its Frid
Published 30 Sep, 2009 12:00am
Dollar edges up

Dollar edges up

The dollar edged up against the yen on Tuesday, correcting steep losses made the previous day as Japan's finance minister backtracked over its tolerance of a stronger yen. The US currency clawed back from an eight-month low hit against its Japanese counte
Published 30 Sep, 2009 12:00am
Iran warns West against 'past mistakes'

Iran warns West against 'past mistakes'

Iran said on Tuesday it would refuse to discuss a newly declared nuclear plant at forthcoming international talks and cautioned Western powers it could curb co-operation further if they repeated "past mistakes". An Iranian MP suggested parliament might se
Published 30 Sep, 2009 12:00am
EU leaders fret over Europe's future in Irish vote

EU leaders fret over Europe's future in Irish vote

Europe's big powers are banking on Irish voters backing reforms to make the European Union a stronger player on the world stage and avert a crisis they fear could paralyse the 27-nation bloc. Irish approval for the EU's Lisbon treaty in a referendum on Fr
Published 30 Sep, 2009 12:00am
US urges Israel to probe Gaza crimes to boost peace

US urges Israel to probe Gaza crimes to boost peace

The United States called on its close ally Israel on Tuesday to conduct credible investigations into allegations of war crimes committed by its forces in Gaza, saying it would help the Middle East peace process. Michael Posner, US Assistant Secretary of S
Published 30 Sep, 2009 12:00am
Roadside bombs kill 36 civilians in Afghanistan

Roadside bombs kill 36 civilians in Afghanistan

A roadside bomb believed to have been planted on a road by Taliban militants struck a bus Tuesday in southern Afghanistan, killing 30 passengers and wounding 39 other civilians, officials said. Two other roadside bombs in eastern and southern Afghanistan
Published 30 Sep, 2009 12:00am
Saudi Arabia flogs teenagers after rare riots

Saudi Arabia flogs teenagers after rare riots

Saudi Arabia flogged a group of teenagers after a rare riot in Khobar in which shops and restaurants were ransacked, a witness and local newspapers said on Tuesday. Human rights activists and liberals condemned Monday's flogging which Saudi newspapers sai
Published 30 Sep, 2009 12:00am
China willing to improve US defence ties

China willing to improve US defence ties

China on Tuesday said that it was willing to improve military relations with the United States, but also called on Washington to handle arms sales to self-ruled Taiwan cautiously. "China takes a positive attitude on improving military exchanges with the U
Published 30 Sep, 2009 12:00am
Typhoon kills 32 in Vietnam; Philippine toll at 246

Typhoon kills 32 in Vietnam; Philippine toll at 246

A powerful typhoon slammed into central Vietnam on Tuesday, killing 32 people and flooding towns and villages along the country's long coastline after leaving a trail of destruction in the Philippines. The death toll in the Philippines from Typhoon Ketsan
Published 30 Sep, 2009 12:00am
Indonesia passes controversial graft court bill

Indonesia passes controversial graft court bill

Indonesia's parliament on Tuesday passed a controversial corruption court bill that anti-graft watchdogs said was likely to undermine the fight against endemic corruption in Southeast Asia's biggest economy. Indonesia needs billions of dollars in domestic
Published 30 Sep, 2009 12:00am
Top US and Nato officials tackle Afghan war in London

Top US and Nato officials tackle Afghan war in London

London will host a trio of military commanders and senior officials working on Afghanistan this week, with pressure building on President Barack Obama to decide on a new strategy for the eight-year conflict. General Stanley McChrystal, the commander of US
Published 30 Sep, 2009 12:00am
Budget of Spanish royal family frozen due to economic crisis

Budget of Spanish royal family frozen due to economic crisis

The annual budget of Spain's King Juan Carlos, 71, and his family will be frozen in 2010 owing to the country's economic downturn, according to an austere draft state budget tabled by Economy Minister Elena Salgado on Tuesday. The royal family will have 8
Published 30 Sep, 2009 12:00am
Nigerian peacekeeper killed in Darfur ambush

Nigerian peacekeeper killed in Darfur ambush

A Nigerian peacekeeper was killed and two Kenyan colleagues were wounded in Sudan's troubled Darfur region when armed men ambushed their convoy, the joint UN/African Union force told Reuters on Tuesday. The attack underlined the insecurity that persists i
Published 30 Sep, 2009 12:00am
50 feared dead in Indian boat capsize

50 feared dead in Indian boat capsize

At least 50 people, many of them women and children, were feared to have drowned after an overloaded boat capsized in eastern India, officials said Tuesday. Passengers were returning from a festival when the boat overturned in a river in the impoverished
Published 30 Sep, 2009 12:00am
No change in venue, schedule of National Games

No change in venue, schedule of National Games

NWFP Minister for Sports, Culture and Tourism Syed Aqil Shah has said that the 31st National Games will not be shifted from Peshawar and will be held here as per schedule. This, he said, while presiding over an emergency meeting of the NWFP Olympic Associ
Published 30 Sep, 2009 12:00am
Mushtaq rejects full-time role with England

Mushtaq rejects full-time role with England

Former Pakistan test player Mushtaq Ahmed will stay on as England's spin bowling consultant despite rejecting an offer to make it a permanent role. "Initially I had a short contract with the England and Wales Cricket Board and they then offered me a full-
Published 30 Sep, 2009 12:00am
PCB announces Domestic Season 2009-2010 calendar

PCB announces Domestic Season 2009-2010 calendar

Pakistan Cricket Board (PCB) has announced the Calendar for its Domestic Season 2009-10. The domestic season already started with Regional inter-district U-19 tournament, which will be completed on 18th October followed by Quaid-e-Azam Trophy First Class
Published 30 Sep, 2009 12:00am
French soccer fan dies in Serbia after attack

French soccer fan dies in Serbia after attack

A 28-year-old French soccer fan died in a Belgrade hospital on Tuesday after being injured in violence ahead of a Europa League match between Partizan Belgrade and Toulouse earlier this month. Brice Taton sustained multiple injuries to his head and chest
Published 30 Sep, 2009 12:00am
Apologetic Tevez sinks West Ham

Apologetic Tevez sinks West Ham

Carlos Tevez refused to celebrate as his double-strike inspired Manchester City's 3-1 win over his former club West Ham on Monday. While Tevez won't win any popularity contests at Manchester United after his acrimonious switch to City, he is fondly regard
Published 30 Sep, 2009 12:00am
Punjab Sports Academy to be upgraded

Punjab Sports Academy to be upgraded

The provincial government would upgrade Punjab Sports Academy (PSA) with the provision of more facilities for professional training apart from capacity building of the coaches and technical staff of the Punjab Sports Department. Provincial Minister for Sp
Published 30 Sep, 2009 12:00am
Historic Arsenal stadium is reborn

Historic Arsenal stadium is reborn

The former home of Arsenal, one of England's most historic football clubs, has undergone a remarkable conversion into flats - but their sales have been caught offside by the credit crunch. The final whistle blew on Highbury Stadium in north London on May
Published 30 Sep, 2009 12:00am
Clarke heads home as Australia chase semis place

Clarke heads home as Australia chase semis place

Star Australia batsman Michael Clarke pulled out of the ICC Champions Trophy on Tuesday after failing to recover from a back injury. Vice-captain Clarke has been unable to train since arriving in South Africa last week following a 6-1 drubbing of England
Published 30 Sep, 2009 12:00am
India need a miracle to survive

India need a miracle to survive

India go into their crucial Champions Trophy match against an under-strength West Indies here on Wednesday requiring little short of a miracle to avoid elimination. Mahendra Singh Dhoni's team are forced to rely as much on other sides' performances as the
Published 30 Sep, 2009 12:00am
Sharapova shines as rivals flop at Pan Pacific Open

Sharapova shines as rivals flop at Pan Pacific Open

Russian big-hitter Maria Sharapova Tuesday overwhelmed Samantha Stosur of Australia in a swift 6-0, 6-1 victory as other top players suffered early exits at the Pan Pacific Open. Former world number one Sharapova fired seven aces and hit a first-serve per
Published 30 Sep, 2009 12:00am
PAF chief for promoting spirit of fair play in sports

PAF chief for promoting spirit of fair play in sports

Asian Football Confederation (AFC) Disciplinary Committee's Chairman Syed Faisal Saleh Hayat has appealed to players, referees, fans and officials throughout Asia to help praise and promote the spirit of fair play in sports. "Fair play is essential to our
Published 30 Sep, 2009 12:00am
Swiss franc stays firm

Swiss franc stays firm

The Swiss franc remained firm against the euro on Tuesday, keeping market speculation about an intervention from the Swiss National Bank alive. "The SNB has renewed its pledge to fight a rise in the franc," said Ronald Plasser, fixed income portfolio mana
Published 30 Sep, 2009 12:00am
Mexico withdraws bid for 2018 or 2022 World Cup

Mexico withdraws bid for 2018 or 2022 World Cup

Mexico, which has twice staged the World Cup, has withdrawn bids to hold the 2018 or 2022 tournaments, a senior Mexican Football Federation (Femexfut) official said. "The decision is based on two factors, the world economic situation and the investment ne
Published 30 Sep, 2009 12:00am
Asian currencies: won leads rally, rupiah recovers from lows

Asian currencies: won leads rally, rupiah recovers from lows

Inflows into a rising stock market buoyed the South Korean won and helped it rally nearly one percent against the dollar on Tuesday, even as the US currency edged up against the jittery yen. The Indonesian rupiah also had a big intra-day swing, boosted by
Published 30 Sep, 2009 12:00am
Australian dollar up

Australian dollar up

The Australian dollar jumped over a cent while bill and bond futures were hammered after talk that local interest rate hikes may be raised in November and December resurfaced once more. The Aussie spiked and bill futures slid after central bank watcher Te
Published 30 Sep, 2009 12:00am
Hong Kong dollar firmed slightly

Hong Kong dollar firmed slightly

The Hong Kong dollar nudged higher against the US dollar on Tuesday, with sentiment lifted by a rebound in the city's stock market. The local currency strengthened to 7.7501, near the upper end of its tight band to the US dollar. Hong Kong stocks recovere
Published 30 Sep, 2009 12:00am
Yen pulls back from eight-month high

Yen pulls back from eight-month high

The dollar rebounded from an eight-month low against the yen on Monday after Japan's finance minister appeared to tone down comments suggesting he was comfortable with the Japanese currency's strength. The dollar earlier dropped below 89 yen after Hirohis
Published 30 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 Tuesday. 69.06/69.06 (previous 69.06/69.06). Call Money Rates: 3.00-9.25 percent (previous 5.00-11.00 percent).
Published 30 Sep, 2009 12:00am
Dollar gains on yen

Dollar gains on yen

The dollar rose against the yen on Tuesday as its rebound from an eight-month low prompted investors to trim short positions and after Japan's finance minister said intervention was possible in extreme cases. After backtracking on Monday from remarks sugg
Published 30 Sep, 2009 12:00am
Yuan steady

Yuan steady

The yuan ended almost flat against the dollar on Tuesday after the Chinese central bank fixed a lower mid-point, with demand for the US dollar limited ahead of the National Day holidays, dealers said. The People's Bank of China set the daily yuan mid-poin
Published 30 Sep, 2009 12:00am
Malaysian shares rise

Malaysian shares rise

Malaysian share prices closed up 0.19 percent on Tuesday in line with regional markets, dealers said. The Kuala Lumpur Composite Index gained 2.26 points to 1,208.21 on volume of 594.3 million shares worth 723.1 million ringgit (207.4 million dollars). Ad
Published 30 Sep, 2009 12:00am
Nikkei edges up

Nikkei edges up

Japan's Nikkei average rose 0.9 percent on Tuesday, with exporters such as Kyocera Corp rebounding after the yen pulled back from an eight-month high against the dollar. The yen has come down from the previous day's peak after Japanese Finance Minister Hi
Published 30 Sep, 2009 12:00am
Jakarta shares up

Jakarta shares up

Indonesian shares ended 1.92 percent higher on Tuesday as gains across the region inspired bargain buying in most bank and auto stocks, dealers said. The Jakarta Composite Index gained 46.01 points to 2,443.83. "Local funds dominated buying despite profit
Published 30 Sep, 2009 12:00am
Chinese shares slightly down

Chinese shares slightly down

Chinese shares closed down 0.33 percent on Tuesday amid concerns that securities regulators may quicken the pace of initial public offerings to soak up liquidity in the market, dealers said. The Shanghai Composite Index, which covers both A and B shares,
Published 30 Sep, 2009 12:00am
US bonds rally further on Fed's inflation assurance

US bonds rally further on Fed's inflation assurance

US 30-year Treasury bonds rallied on Monday, pushing yields to four-month lows, as investors remained heartened by last week's assurances that the Federal Reserve will preempt inflation before it takes off. Fed Governor Kevin Warsh said on Friday the cent
Published 30 Sep, 2009 12:00am
US bonds rally further on Fed's inflation assurance

US bonds rally further on Fed's inflation assurance

US 30-year Treasury bonds rallied on Monday, pushing yields to four-month lows, as investors remained heartened by last week's assurances that the Federal Reserve will preempt inflation before it takes off. Fed Governor Kevin Warsh said on Friday the cent
Published 30 Sep, 2009 12:00am
Singapore shares soar

Singapore shares soar

Singapore shares closed 1.30 percent higher on Tuesday with sentiment boosted by Wall Street's overnight gains, dealers said. The blue chip Straits Times Index was 34.06 points firmer at 2,663.31. Volume totalled 2.51 billion shares worth 1.59 billion Sin
Published 30 Sep, 2009 12:00am
Seoul shares end firmer

Seoul shares end firmer

Seoul shares ended firm on Tuesday propelled by firm gains in technology and retail issues including Samsung Electronics and Lotte Shopping, while KOGAS rallied on natural gas development hopes. The Korea Composite Stock Price Index (KOSPI) finished up 0.
Published 30 Sep, 2009 12:00am
US stocks snap three-day losing streak

US stocks snap three-day losing streak

US stocks rallied on Monday, snapping a three-day losing streak, as a spurt of corporate take-overs in the technology and health-care sectors fuelled optimism about share values. Mergers and acquisitions are typically viewed as bullish as it suggests comp
Published 30 Sep, 2009 12:00am
Taiwan stocks log best gain in one month

Taiwan stocks log best gain in one month

Taiwan stocks rose 2 percent to post their biggest daily gain in one month on Tuesday, helped by TSMC, after the government said it would allow contract chipmakers and flat-panel companies to acquire rivals in China. The main TAIEX share index finished 14
Published 30 Sep, 2009 12:00am
Hong Kong shares close 2.06 percent higher

Hong Kong shares close 2.06 percent higher

Hong Kong share prices closed 2.06 percent higher on Tuesday as bargain-hunting snapped a four-day losing streak, with sentiment boosted by a rally on Wall Street. The benchmark Hang Seng Index finished 424.76 points up at 21,013.17. Turnover was 49.49 bi
Published 30 Sep, 2009 12:00am
Thai share prices climb

Thai share prices climb

The Thai stock market rose 0.90 percent on Tuesday with sentiment boosted by a Wall Street rally overnight, analysts said. The Stock Exchange of Thailand (SET) composite index gained 6.41 points to close at 715.29 and the blue chip SET-50 index was up 5.5
Published 30 Sep, 2009 12:00am
Philippines shares higher

Philippines shares higher

Philippines share prices closed 0.81 percent higher on Tuesday, lifted by a rebound on Wall Street, dealers said. The composite index gained 22.67 points to 2,807.32 while the all-shares index rose 0.43 percent to 1,788.32 points. There were 58 gainers ag
Published 30 Sep, 2009 12:00am
Latin America on road to recovery: World Bank

Latin America on road to recovery: World Bank

The worst of the global economic crisis is over and Latin America, led by a resilient Brazil, should see its economy grow about 3 percent next year, a World Bank official said on Monday. Augusto de la Torre, the World Bank's chief economist for Latin Amer
Published 30 Sep, 2009 12:00am
Canadian consumer confidence rises for seventh month

Canadian consumer confidence rises for seventh month

Consumer confidence in Canada improved for a seventh straight month in September, with people's willingness to make big-ticket purchases showing the biggest gain, the Conference Board of Canada said on Tuesday. The board's index of consumer confidence ros
Published 30 Sep, 2009 12:00am
Bank of Canada says worried by currency rates

Bank of Canada says worried by currency rates

Bank of Canada Governor Mark Carney renewed a warning on Monday about persistent strength in the Canadian dollar and its possible effects on returning inflation to the Bank of Canada's target range. In a speech, he allowed that some of the currency's rise
Published 30 Sep, 2009 12:00am
RUSAL re-starts $2 billion Hong Kong IPO

RUSAL re-starts $2 billion Hong Kong IPO

UC RUSAL, the aluminium firm controlled by Russian magnate Oleg Deripaska, has re-started plans for a Hong Kong stock listing to raise about $2 billion at a time when it is trying to restructure large debts. Hong Kong witnessed its biggest IPO of the year
Published 30 Sep, 2009 12:00am
RUSAL re-starts $2 billion Hong Kong IPO

RUSAL re-starts $2 billion Hong Kong IPO

UC RUSAL, the aluminium firm controlled by Russian magnate Oleg Deripaska, has re-started plans for a Hong Kong stock listing to raise about $2 billion at a time when it is trying to restructure large debts. Hong Kong witnessed its biggest IPO of the year
Published 30 Sep, 2009 12:00am
South Korea central bank sees higher interest rates

South Korea central bank sees higher interest rates

A South Korean central banker raised the possibility of higher interest rates as far back as August, adding to evidence that Asia's fourth-largest economy may be the first G20 country to tighten monetary policy. Minutes of a Bank of Korea August 11 meetin
Published 30 Sep, 2009 12:00am
Angola, IMF reach understanding for loans

Angola, IMF reach understanding for loans

The International Monetary Fund has reached a preliminary deal with Angola that could lead to significant loans to help the African nation cope with a global economic downturn and lower oil prices, the IMF said on Tuesday. In a statement, IMF mission chie
Published 30 Sep, 2009 12:00am
ENOC hires former BP trader to lead crude trading

ENOC hires former BP trader to lead crude trading

Emirates National Oil Co (ENOC) has hired a former BP trader to cover crude in Singapore, industry sources said on Monday, as the state firm joins others in expanding in a sector that is emerging from the downturn. Adrian Querzoli, who is from Adelaide, A
Published 30 Sep, 2009 12:00am
Kuwait sovereign fund denies losing $94 billion

Kuwait sovereign fund denies losing $94 billion

Kuwait Investment Authority (KIA), the Gulf state sovereign wealth fund, on Tuesday denied a United Nations claim its assets slumped by 94 billion dollars due to the global financial crisis. KIA acting managing director Othman Ibrahim al-Issa said in a st
Published 30 Sep, 2009 12:00am
Australian central bank sees risk of housing price bubble

Australian central bank sees risk of housing price bubble

A top Australian central banker warned on Tuesday that housing prices could rise too fast if interest rates were kept low for too long, fanning speculation that monetary policy would be tightened as soon as November. Expectations of rate hikes had already
Published 30 Sep, 2009 12:00am
US chief executives still not ready to hire, spend

US chief executives still not ready to hire, spend

US chief executives are not ready to step up hiring or capital spending, though a majority expect sales to rise over the next six months, according to a Business Roundtable survey released on Tuesday. The survey said 40 percent expect to cut US jobs over
Published 30 Sep, 2009 12:00am
Kuwait sovereign fund denies losing $94 billion

Kuwait sovereign fund denies losing $94 billion

Kuwait Investment Authority (KIA), the Gulf state sovereign wealth fund, on Tuesday denied a United Nations claim its assets slumped by 94 billion dollars due to the global financial crisis. KIA acting managing director Othman Ibrahim al-Issa said in a st
Published 30 Sep, 2009 12:00am
Siemens downbeat on business

Siemens downbeat on business

German industrial conglomerate Siemens said its order intake fell more than a fifth in its fiscal fourth quarter through September, indicating that recovery is not yet underway. Chief Financial Officer Joe Kaeser told a webcast investor event in London on
Published 30 Sep, 2009 12:00am
Japanese Prime Minister bans 'descent from heaven' jobs

Japanese Prime Minister bans 'descent from heaven' jobs

Japan's Prime Minister Yukio Hatoyama on Tuesday banned ministries from helping retired bureaucrats parachute into cushy jobs in government-linked agencies and the firms they formerly supervised. Hatoyama's centre-left Democratic Party of Japan (DPJ), whi
Published 30 Sep, 2009 12:00am
Siemens downbeat on business

Siemens downbeat on business

German industrial conglomerate Siemens said its order intake fell more than a fifth in its fiscal fourth quarter through September, indicating that recovery is not yet underway. Chief Financial Officer Joe Kaeser told a webcast investor event in London on
Published 30 Sep, 2009 12:00am
India's nuclear plans big opportunity for global players: Singh

India's nuclear plans big opportunity for global players: Singh

India's nuclear energy industry is poised for a major expansion which would provide huge opportunities for the global nuclear industry, Prime Minister Manmohan Singh said on Tuesday. India's nuclear programme had the potential of yielding 470,000 megawatt
Published 30 Sep, 2009 12:00am
Zardari invites Italian businessmen

Zardari invites Italian businessmen

Leading Italian investors, business executives and industrialists evinced keen interest for investment in diverse fields including agriculture, transport, oil and gas, textile, infrastructure and other sectors at an Investment Conference presided over by
Published 30 Sep, 2009 12:00am
South African mine discovers massive 507 carat white diamond

South African mine discovers massive 507 carat white diamond

Mining group Petra Diamonds has discovered a 507.55 carat white diamond at South Africa's Cullinan mine, one of the largest high-quality rough diamonds ever found, the firm said Tuesday. "This spectacular gemstone was recovered on Thursday 24 September an
Published 30 Sep, 2009 12:00am
Zardari invites Italian businessmen

Zardari invites Italian businessmen

Leading Italian investors, business executives and industrialists evinced keen interest for investment in diverse fields including agriculture, transport, oil and gas, textile, infrastructure and other sectors at an Investment Conference presided over by
Published 30 Sep, 2009 12:00am
New threat letter sent to Sarkozy

New threat letter sent to Sarkozy

President Nicolas Sarkozy has received another threatening letter containing a bullet, just days after a man was charged over dozens of mysterious death threats, a judicial official said Tuesday. The anonymous author of the letter that arrived at the Elys
Published 30 Sep, 2009 12:00am
Zardari invites Italian businessmen

Zardari invites Italian businessmen

Leading Italian investors, business executives and industrialists evinced keen interest for investment in diverse fields including agriculture, transport, oil and gas, textile, infrastructure and other sectors at an Investment Conference presided over by
Published 30 Sep, 2009 12:00am
'Hitler' skull belonged to woman

'Hitler' skull belonged to woman

A skull fragment thought to come from Adolf Hitler is in fact that of an unidentified woman, according to a US study that has resurrected questions about the Nazi leader's death. The bone, bearing a bullet hole, has been held up to support the theory that
Published 30 Sep, 2009 12:00am
Indian court bans illegal worship sites

Indian court bans illegal worship sites

India's Supreme Court slapped a ban Tuesday on the construction of illegal places of worship on public sites such as streets and parks, reports said. Most Indian cities and towns are dotted with illegal worship sites built on roads, parks, railway station
Published 30 Sep, 2009 12:00am
Israel gets two more German submarines

Israel gets two more German submarines

Israel has taken delivery of two German submarines ordered four years ago, a military spokesman said on Tuesday. "We have received two Dolphin-class submarines built in Germany," he said, on condition of anonymity. The submarines, called U212s, can launch
Published 30 Sep, 2009 12:00am
Brown talks tough, woos mainstream

Brown talks tough, woos mainstream

Prime Minister Gordon Brown reached out to Britain's "mainstream majority" on Tuesday, promising to clean up politics and get tough on crime to try to prevent a crushing election defeat next year. His speech sought to win back disaffected middle class vot
Published 30 Sep, 2009 12:00am
SBP policy rate unchanged at 13 percent

SBP policy rate unchanged at 13 percent

As strongly expected, the State Bank of Pakistan on Tuesday announced that its policy rate would remain unchanged at 13 percent amid fear of fiscal slippages and concerned that inflation may not have peaked and uncertainty regarding the outcome of ongoing
Published 30 Sep, 2009 12:00am
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