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Print - 2009-10-15
US state of Colorado may cut wages as prices fall

US state of Colorado may cut wages as prices fall

Labour officials in the US state of Colorado have proposed lowering the state's minimum wage starting January 1, 2010 to track a decrease in the cost of living, highlighting the potential impact of falling prices on the economy. Colorado is one of 10 US s
Published 15 Oct, 2009 12:00am
BRIndex30 up 119.7 points

BRIndex30 up 119.7 points

On Wednesday, the BRIndex30 opened at 8,388.58 and closed at 8,508.28 points with a net positive change of 119.7 points and percentage change of 1.43. It experienced intra-day high of 8,569.08 and low of 8,388.58 points. The volume amounted to 166,030,412
Published 15 Oct, 2009 12:00am
Malaysian palm oil up

Malaysian palm oil up

Malaysian palm oil futures ended slightly higher on Wednesday, easing from a near four-week high earlier in the session that was fuelled by a rally in crude oil prices and hopes of improving exports. With cargo surveyors due to report Malaysia's October 1
Published 15 Oct, 2009 12:00am
Share market depicts positive trend

Share market depicts positive trend

The Karachi share market on Wednesday depicted positive trend and KSE-100 index gained 118.21 points to close at 9,804.61 points from 9,686.40 points. The index hit 6,867.94 points intra-day high and, due to active buying by local investors, trading volum
Published 15 Oct, 2009 12:00am
Oil surges to 2009 high of 75 dollars a barrel

Oil surges to 2009 high of 75 dollars a barrel

Oil surged for a fifth day on Wednesday to a 2009 high of $75.12 a barrel, boosted by a weak dollar and surprisingly strong China trade data that underscored a recovery in the world's second-largest oil user. US weekly oil inventory data from the American
Published 15 Oct, 2009 12:00am
Share market depicts positive trend

Share market depicts positive trend

The Karachi share market on Wednesday depicted positive trend and KSE-100 index gained 118.21 points to close at 9,804.61 points from 9,686.40 points. The index hit 6,867.94 points intra-day high and, due to active buying by local investors, trading volum
Published 15 Oct, 2009 12:00am
EADS chief calls for more help for exporters

EADS chief calls for more help for exporters

Europe should beef up support for industry and put exporters first after the financial crisis exposed the "mirages of speculation", the head of Airbus parent EADS said in remarks published on Wednesday. "I am convinced that Europe must play its industrial
Published 15 Oct, 2009 12:00am
Share market depicts positive trend

Share market depicts positive trend

The Karachi share market on Wednesday depicted positive trend and KSE-100 index gained 118.21 points to close at 9,804.61 points from 9,686.40 points. The index hit 6,867.94 points intra-day high and, due to active buying by local investors, trading volum
Published 15 Oct, 2009 12:00am
Over 50,000 Nissan vehicles recalled in China

Over 50,000 Nissan vehicles recalled in China

A Chinese joint venture involving Japan's Nissan Motors will recall nearly 52,000 cars in China due to safety defects in the steering system, the country's product-quality watchdog said. The recall by Dongfeng Motor Co Ltd covers 18,146 X-Trail sport util
Published 15 Oct, 2009 12:00am
China, Russia, Central Asian allies tackle crisis

China, Russia, Central Asian allies tackle crisis

The prime ministers of China, Russia and four Central Asian nations on Wednesday promised closer co-operation to overcome the global financial crisis. The six nations had "reached important consensus in deepening co-operation and jointly tackling the econ
Published 15 Oct, 2009 12:00am
J.P Morgan profit soars

J.P Morgan profit soars

J.P. Morgan Chase & Co said quarterly profit rocketed to $3.6 billion, topping Wall Street expectations, as stock underwriting and bond trading revenue surged. The second-largest US bank said its dividend could rise early next year. But Chief Financial Of
Published 15 Oct, 2009 12:00am
J.P Morgan profit soars

J.P Morgan profit soars

J.P. Morgan Chase & Co said quarterly profit rocketed to $3.6 billion, topping Wall Street expectations, as stock underwriting and bond trading revenue surged. The second-largest US bank said its dividend could rise early next year. But Chief Financial Of
Published 15 Oct, 2009 12:00am
US retail sales hint consumer demand improving

US retail sales hint consumer demand improving

Sales at US retailers fell in September as car-buying incentives expired, but excluding autos they were up a second straight month, raising cautious optimism consumer spending could support economic recovery. Retail sales fell 1.5 percent last month, the
Published 15 Oct, 2009 12:00am
Venezuela and Cuba to start laying fiber optic cable

Venezuela and Cuba to start laying fiber optic cable

Installation of 1,630 kilometers (1,013 miles) of fiber optic cable between Cuba and Venezuela will start Wednesday, Venezuela's science and technology chief said. Cuba claims that not having access to US Internet firms' services has kept it from extendin
Published 15 Oct, 2009 12:00am
Foreign bank branches agree to bonus curbs: Britain

Foreign bank branches agree to bonus curbs: Britain

Foreign bank branches operating in Britain have agreed to measures to curb bankers' bonuses agreed at last month's Group of 20 summit in Pittsburgh, they announced Wednesday alongside the government here. It follows recent moves by leading British banks t
Published 15 Oct, 2009 12:00am
Inquiry into PSM affairs: Ministry may be grilled over report delay

Inquiry into PSM affairs: Ministry may be grilled over report delay

The Ministry of Industries and Production is likely to be grilled by the Senate Standing Committee on Industries and Production on Friday for misrepresenting an inquiry report on the financial mismanagement in Pakistan Steel Mills (PSM), well-informed sou
Published 15 Oct, 2009 12:00am
BoJ delays credit market exit after government pressure

BoJ delays credit market exit after government pressure

The Bank of Japan deferred a decision on Wednesday on withdrawing support for corporate finance after the government pressed the central bank to consider the economic cost of its retreat from credit markets. Finance Minister Hirohisa Fujii kept up the pre
Published 15 Oct, 2009 12:00am
Inquiry into PSM affairs: Ministry may be grilled over report delay

Inquiry into PSM affairs: Ministry may be grilled over report delay

The Ministry of Industries and Production is likely to be grilled by the Senate Standing Committee on Industries and Production on Friday for misrepresenting an inquiry report on the financial mismanagement in Pakistan Steel Mills (PSM), well-informed sou
Published 15 Oct, 2009 12:00am
UK jobless rise smaller than feared, still more to come

UK jobless rise smaller than feared, still more to come

The number of Britons claiming jobless benefit rose by its smallest amount in almost 1-1/2 years in September, according to official data, in a sign the worst of the job-shedding due to the recession may be over. But lay-offs are likely to last throughout
Published 15 Oct, 2009 12:00am
Inquiry into PSM affairs: Ministry may be grilled over report delay

Inquiry into PSM affairs: Ministry may be grilled over report delay

The Ministry of Industries and Production is likely to be grilled by the Senate Standing Committee on Industries and Production on Friday for misrepresenting an inquiry report on the financial mismanagement in Pakistan Steel Mills (PSM), well-informed sou
Published 15 Oct, 2009 12:00am
Strong China trade, loan figures back recovery case

Strong China trade, loan figures back recovery case

China reported surprisingly strong trade figures on Wednesday, providing fresh evidence that the world's third-largest economy is firmly on the path to recovery and that global demand is improving too. Exports in September fell 15.2 percent from a year ea
Published 15 Oct, 2009 12:00am
Business Recorder exclusive: Food security is all about security

Business Recorder exclusive: Food security is all about security

For one billion people around the world, the daily effort to grow, buy, or sell food is the defining struggle of their lives. This matters to them, and to all of us. Consider the daily life of the world's typical small farmer. She lives in a rural village
Published 15 Oct, 2009 12:00am
Eurozone industrial output accelerates

Eurozone industrial output accelerates

Euro zone industrial output accelerated month-on-month in August and July production was revised upwards, data showed, providing evidence the area's economy is likely to have started growing in the third quarter. Industrial output in the 16-country zone r
Published 15 Oct, 2009 12:00am
Business Recorder exclusive: Food security is all about security

Business Recorder exclusive: Food security is all about security

For one billion people around the world, the daily effort to grow, buy, or sell food is the defining struggle of their lives. This matters to them, and to all of us. Consider the daily life of the world's typical small farmer. She lives in a rural village
Published 15 Oct, 2009 12:00am
Intel glides past Street expectations

Intel glides past Street expectations

Intel Corp's quarterly outlook and results soared past expectations on Tuesday, sending shares 7 percent higher and fuelling optimism over a tech sector recovery before the crucial holiday season. Intel's rosier than expected forecast and comments about r
Published 15 Oct, 2009 12:00am
ST relief on fresh, liquid and dried milk withdrawn

ST relief on fresh, liquid and dried milk withdrawn

The Federal Board of Revenue (FBR) has withdraw sales tax exemption on the fresh, liquid and dried milk with addition of sugar or any other sweetening matter whether packed or not and dried milk without addition of sugar or any other sweetening matter, wh
Published 15 Oct, 2009 12:00am
India regulator approves first genetically modified vegetable

India regulator approves first genetically modified vegetable

Indian regulators approved on Wednesday the introduction of genetically modified aubergines, potentially making them the first transgenic vegetable to be grown on local farms, a top official told AFP. The much-awaited clearance by the state-run Geneticall
Published 15 Oct, 2009 12:00am
ST relief on fresh, liquid and dried milk withdrawn

ST relief on fresh, liquid and dried milk withdrawn

The Federal Board of Revenue (FBR) has withdraw sales tax exemption on the fresh, liquid and dried milk with addition of sugar or any other sweetening matter whether packed or not and dried milk without addition of sugar or any other sweetening matter, wh
Published 15 Oct, 2009 12:00am
Bank of China executive to take up senior IMF post

Bank of China executive to take up senior IMF post

A Bank of China executive will take up a senior post at the International Monetary Fund (IMF), a person with direct knowledge of the situation said on Tuesday, as China seeks more power in the Washington-based agency. Executive Vice President Zhu Min, a f
Published 15 Oct, 2009 12:00am
ST relief on fresh, liquid and dried milk withdrawn

ST relief on fresh, liquid and dried milk withdrawn

The Federal Board of Revenue (FBR) has withdraw sales tax exemption on the fresh, liquid and dried milk with addition of sugar or any other sweetening matter whether packed or not and dried milk without addition of sugar or any other sweetening matter, wh
Published 15 Oct, 2009 12:00am
ASML third quarter bookings fuel technology recovery hopes

ASML third quarter bookings fuel technology recovery hopes

ASML's ramped up third quarter order bookings well ahead of expectations as customers boosted investments but shares in the Dutch chip equipment maker reversed in late trading Wednesday as analysts said some of the good news was already priced into the st
Published 15 Oct, 2009 12:00am
ST relief on fresh, liquid and dried milk withdrawn

ST relief on fresh, liquid and dried milk withdrawn

The Federal Board of Revenue (FBR) has withdraw sales tax exemption on the fresh, liquid and dried milk with addition of sugar or any other sweetening matter whether packed or not and dried milk without addition of sugar or any other sweetening matter, wh
Published 15 Oct, 2009 12:00am
ASML third quarter bookings fuel technology recovery hopes

ASML third quarter bookings fuel technology recovery hopes

ASML's ramped up third quarter order bookings well ahead of expectations as customers boosted investments but shares in the Dutch chip equipment maker reversed in late trading Wednesday as analysts said some of the good news was already priced into the st
Published 15 Oct, 2009 12:00am
$11.406 billion loans obtained from IMF since 1958: Tarin

$11.406 billion loans obtained from IMF since 1958: Tarin

Minister for Finance Shaukat Tarin on Wednesday informed the National Assembly that the total loans obtained from the International Monetary Fund (IMF) since 1958 amount to $11.406 billion. In a written replay, he informed the house that the question of A
Published 15 Oct, 2009 12:00am
South Korea adds most jobs in 10 months

South Korea adds most jobs in 10 months

South Korea added the most jobs in 10 months in September over a year earlier as companies boosted operations to meet growing demand, data showed on Wednesday, adding to market expectations for an interest rate rise soon. Asia's fourth-largest economy add
Published 15 Oct, 2009 12:00am
$11.406 billion loans obtained from IMF since 1958: Tarin

$11.406 billion loans obtained from IMF since 1958: Tarin

Minister for Finance Shaukat Tarin on Wednesday informed the National Assembly that the total loans obtained from the International Monetary Fund (IMF) since 1958 amount to $11.406 billion. In a written replay, he informed the house that the question of A
Published 15 Oct, 2009 12:00am
WTO-style body may be needed for banking sector: FSA

WTO-style body may be needed for banking sector: FSA

A global body with legal powers may be needed over time to enforce the world's new financial rules, Britain's Financial Services Authority (FSA) said on Wednesday. The FSA's newly appointed and first director of international affairs, Verena Ross, said th
Published 15 Oct, 2009 12:00am
$11.406 billion loans obtained from IMF since 1958: Tarin

$11.406 billion loans obtained from IMF since 1958: Tarin

Minister for Finance Shaukat Tarin on Wednesday informed the National Assembly that the total loans obtained from the International Monetary Fund (IMF) since 1958 amount to $11.406 billion. In a written replay, he informed the house that the question of A
Published 15 Oct, 2009 12:00am
Swiss banks uncertain, worried about future: survey

Swiss banks uncertain, worried about future: survey

Geneva's banks and trading houses are worried about the future allure of Switzerland as an international banking centre, according to a new survey. The annual poll conducted by Geneve Place Financiere, an association representing the city's nearly 6,000 f
Published 15 Oct, 2009 12:00am
India's central bank likely to hold rates

India's central bank likely to hold rates

India's central bank is likely to hold interest rates at a near decade-low in its policy review this month and the monetary stance can continue until inflationary pressures rise, a top policy adviser said. The Reserve Bank of India (RBI) holds its quarter
Published 15 Oct, 2009 12:00am
Indian government may give Air India $1 billion bailout

Indian government may give Air India $1 billion bailout

The Indian government said Wednesday it may give ailing flagship carrier Air India a one-billion-dollar bailout on condition that the state-run airline cuts costs. "What the government is looking at is (injecting) 50 billion rupees (one billion dollars) i
Published 15 Oct, 2009 12:00am
Rio ups iron ore, copper output on recovery signs

Rio ups iron ore, copper output on recovery signs

Global miner Rio Tinto struck a positive note for a global recovery in minerals markets on Wednesday, raising its 2009 iron ore and copper production targets amid early signs of a turnaround. Rio's positive assessment came moments after top importer China
Published 15 Oct, 2009 12:00am
Sardar Yaqoob resigns as AJK Prime Minister

Sardar Yaqoob resigns as AJK Prime Minister

Prime Minister of AJK, Sardar Yaqoob Khan announced that he had resigned as Prime Minister just to avoid a political controversy in the Legislative Assembly. Dispelling impression of pressure of no-confidence motion or other, Sardar Yaqoob said, "I have t
Published 15 Oct, 2009 12:00am
Philippines shares close flat

Philippines shares close flat

Philippines share prices closed flat on Wednesday on a dearth of market-moving news, dealers said. The composite index edged up 0.61 points, or 0.02 percent, to close at 2,930.70, while the all shares index added 2.18 points or 0.12 percent to 1,849.33. A
Published 15 Oct, 2009 12:00am
Austria calls on Israel to halt settlements

Austria calls on Israel to halt settlements

Austrian Foreign Minister Michael Spindelegger called on Israel Wednesday to cease building settlements in occupied territory as a way of advancing the peace process in the Middle East. "We want a credible halt to the illegal settlement policy, including
Published 15 Oct, 2009 12:00am
Two-thirds of Americans still back death penalty

Two-thirds of Americans still back death penalty

Nearly two-thirds of Americans support the death penalty, showing little change over the past decade, and half say it should be used more often, Gallup's annual survey showed Tuesday. Around 65 percent of the 1,013 adults surveyed said they were in favour
Published 15 Oct, 2009 12:00am
First refugees sent from Britain to Baghdad since war

First refugees sent from Britain to Baghdad since war

A group of Iraqi asylum seekers in Britain will this week be sent back to Baghdad for the first time since the start of the Iraq war in 2003, refugee groups here said Wednesday. The International Federation of Iraqi Refugees said around 40 Iraqis currentl
Published 15 Oct, 2009 12:00am
Iraqi parliament delays key vote on electoral law

Iraqi parliament delays key vote on electoral law

The Iraqi parliament said on Wednesday that a key vote among MPs on a new electoral law intended to establish a more transparent system for polls due in January has been delayed until next week. The bill has stalled amid opposition among some members of p
Published 15 Oct, 2009 12:00am
'Godfather' singer Al Martino dies

'Godfather' singer Al Martino dies

Al Martino, the chart-topping Italian-American crooner of ballads such as "Spanish Eyes" and "Volare" who played the wedding singer in "The Godfather," has died age 82, reports said Wednesday. Martino's career spanned half a century, and at his peak in th
Published 15 Oct, 2009 12:00am
Indian Maoists kill three at football match

Indian Maoists kill three at football match

Suspected Maoist rebels in eastern India opened fire at a prize-giving ceremony after a local football match, killing three people, police said Wednesday. Among those shot dead were two bodyguards for a former member of parliament who was presenting the t
Published 15 Oct, 2009 12:00am
'World's shortest man' comes of age in Nepal

'World's shortest man' comes of age in Nepal

Khagendra Thapa Magar from Nepal, thought to be the world's smallest living man at just 22 inches (56 centimetres), has turned 18 and now hopes to be officially recognised for his record size. Four years ago, Thapa had his application for a Guinness World
Published 15 Oct, 2009 12:00am
Four Dutch tourists killed in China balloon accident

Four Dutch tourists killed in China balloon accident

Four Dutch tourists were killed in the scenic Chinese town of Yangshuo on Wednesday when their hot-air balloon burst into flames and plummeted 150 metres (500 feet) to the ground, state media reported. The victims were among a group of seven people, inclu
Published 15 Oct, 2009 12:00am
7,500 couples 'blessed' at Unification Church mass wedding

7,500 couples 'blessed' at Unification Church mass wedding

Some 7,500 South Korean and overseas couples exchanged or reaffirmed marriage vows Wednesday in a ceremony organised by the Unification Church - its biggest mass wedding for many years. Reverend Sun Myung Moon, the 89-year-old founder of the controversial
Published 15 Oct, 2009 12:00am
Younus 'badly hurt' by match-fixing claims

Younus 'badly hurt' by match-fixing claims

Disgruntled Pakistan captain Younus Khan said Wednesday that match-fixing claims were behind his shocking offer to resign and that he was hurt by an investigation into his team's Champions Trophy defeats. Younus tendered his resignation on Tuesday at a me
Published 15 Oct, 2009 12:00am
Pakistan fully safe for hosting mega sporting activities: President

Pakistan fully safe for hosting mega sporting activities: President

President Asif Ali Zardari on Wednesday said that Pakistan is fully safe and secure for hosting mega sporting activities and urged the International Hockey Federation to arrange major Hockey events in Pakistan to demonstrate it to the world. The President
Published 15 Oct, 2009 12:00am
Del Potro joins casualty list, Nadal advances

Del Potro joins casualty list, Nadal advances

Top seed Rafa Nadal marched into the last 16 of the Shanghai Masters with a thoroughly entertaining 6-2 6-7 6-4 victory over American James Blake on Wednesday. US Open champion Juan Martin Del Potro, however, joined the growing casualty list at the $3.24-
Published 15 Oct, 2009 12:00am
PIA to continue with promotion of sports

PIA to continue with promotion of sports

PIA would continue to promote, train and develop cricketing talent, hockey, football and other sports to support growth amongst the youth enabling them to become world class sportsmen and sportswomen.
Published 15 Oct, 2009 12:00am
Sania reaches Japan Open quarter-finals

Sania reaches Japan Open quarter-finals

India's Sania Mirza became the first player to reach the quarter-finals of the Japan Open Wednesday, beating Viktoriya Kutuzova of Ukraine in straight sets. The 22-year-old Mirza, who won the Australian Open mixed doubles with Mahesh Bhupathi this season,
Published 15 Oct, 2009 12:00am
India unveil eight World Cup venues

India unveil eight World Cup venues

Mumbai will host the final and Mohali one of the semi-finals, according to the allocation of India's share of matches in the 2011 cricket World Cup announced on Wednesday. India, which co-hosts the showpiece event with Sri Lanka and Bangladesh in February
Published 15 Oct, 2009 12:00am
Asian currencies: rupiah outperforms, baht restrained by central bank

Asian currencies: rupiah outperforms, baht restrained by central bank

The high-yielding Indonesian rupiah outperformed its peers on Wednesday as the US dollar lost ground globally, but the Thai baht's strength was tempered by suspected central bank intervention. The dollar slid to its weakest level in 14 months against a ba
Published 15 Oct, 2009 12:00am
US dollar hits 14-month low

US dollar hits 14-month low

The US dollar fell to a 14-month low on Tuesday against major currencies, with investors betting the United States is likely to bring up the rear in a global economic recovery led by Asia and commodity-producing countries. The euro rose to nearly $1.49, i
Published 15 Oct, 2009 12:00am
Dollar resumes broad slide lows

Dollar resumes broad slide lows

The dollar tumbled to 14-month lows on Wednesday, hurt by persistent expectations for low US interest rates, investor appetite for commodity currencies and expectations that Japan at least was not ready to break its fall. It skidded to its lowest levels s
Published 15 Oct, 2009 12:00am
Australian dollar hits 14-month highs

Australian dollar hits 14-month highs

The Australian dollar extended its sizzling rally to fresh 14-month highs on Wednesday as a broad sell-off in the US currency gathered momentum, while investors added to their long positions in higher-yielding currencies. The Aussie also found support fro
Published 15 Oct, 2009 12:00am
Hong Kong dollar stays strong

Hong Kong dollar stays strong

The Hong Kong dollar was stuck at the top of its trading band against the US dollar on Wednesday, which might prompt the Hong Kong Monetary Authority (HKMA) to step in again to prevent the local currency from rising beyond its fixed range, as money poured
Published 15 Oct, 2009 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Wednesday. 69.08/69.09 (previous 69.07/69.09). Call Money Rates: 1.75-7.00 percent (previous 0.50-7.00 percent).
Published 15 Oct, 2009 12:00am
Swiss franc hovers near 15-month peaks

Swiss franc hovers near 15-month peaks

The Swiss franc was trading on Wednesday in sight of 15-months highs against the dollar as persistent expectations of low US interest rates hit the greenback across the board. "Dollar/Swiss franc remains heavy and has potential to test parity in the near
Published 15 Oct, 2009 12:00am
Key NDFs implied yuan appreciation at 14-month high

Key NDFs implied yuan appreciation at 14-month high

The yuan climbed to its highest level on the dollar in nearly 14 months in benchmark offshore non-deliverable forwards (NDFs) on Wednesday as Chinese trade data showed a slowing in the pace of the decline in exports and the dollar fell on global markets.
Published 15 Oct, 2009 12:00am
Nikkei drifts lower

Nikkei drifts lower

Japan's Nikkei average lost 0.2 percent on Wednesday, hit by profit-taking after five days of gains, with exporters such as Canon Inc pressured by a stronger yen. Bank shares such as Mizuho Financial Group slipped after their US peers fell ahead of earnin
Published 15 Oct, 2009 12:00am
US aid bill: document to subside furore, says Qureshi

US aid bill: document to subside furore, says Qureshi

Foreign minister voiced hope Wednesday that a furor at home over a giant US aid package would subside after US lawmakers gave written guarantees it would not violate the Pakistan's sovereignty. Foreign Minister Shah Mehmood Qureshi rushed to Washington af
Published 15 Oct, 2009 12:00am
MOL discovers new gas in Tal Block

MOL discovers new gas in Tal Block

Hungarian oil and gas firm has made a new discovery of gas and condensate at the Maramzai-1 well in the Tal Block in Pakistan, the company said on Wednesday. The production of the well is 1.1 million cubic metres of gas per day and 228 cubic meters of con
Published 15 Oct, 2009 12:00am
Sardar Yaqoob resigns as AJK Prime Minister

Sardar Yaqoob resigns as AJK Prime Minister

Prime Minister of AJK, Sardar Yaqoob Khan announced that he had resigned as Prime Minister just to avoid a political controversy in the Legislative Assembly. Dispelling impression of pressure of no-confidence motion or other, Sardar Yaqoob said, "I have t
Published 15 Oct, 2009 12:00am
New Zealand house prices rise, rate hike seen on horizon

New Zealand house prices rise, rate hike seen on horizon

New Zealand's housing sector recovered to its best position in a year in September and the central bank said it would end some emergency support measures amid an improving economy, bolstering expectations of interest rate rises early next year.
Published 15 Oct, 2009 12:00am
Dow ends above 10,000 mark

Dow ends above 10,000 mark

The Dow industrials pierced the 10,000 level on Wednesday for the first time in a year on surprisingly robust company results and better-than-expected retail sales. Based on the latest available data, the Dow Jones industrial average was up 144.88 points,
Published 15 Oct, 2009 12:00am
Malaysian shares make gains

Malaysian shares make gains

Malaysian shares rose 1.08 percent on Wednesday due to gains in banks, construction heavyweights and government-linked stocks, dealers said. The Kuala Lumpur Composite Index gained 13.33 points to a new closing high of 1,246.84. Advancers led losers 574 t
Published 15 Oct, 2009 12:00am
Dow ends above 10,000 mark

Dow ends above 10,000 mark

The Dow industrials pierced the 10,000 level on Wednesday for the first time in a year on surprisingly robust company results and better-than-expected retail sales. Based on the latest available data, the Dow Jones industrial average was up 144.88 points,
Published 15 Oct, 2009 12:00am
Taiwan aims to expand futures trading

Taiwan aims to expand futures trading

Taiwan aims to allow trading in futures on individual stocks before the end of the year, giving the local derivatives market a major boost, financial officials said on Wednesday. The Taiwan Futures Exchange said it was preparing new rules and would submit
Published 15 Oct, 2009 12:00am
Dow ends above 10,000 mark

Dow ends above 10,000 mark

The Dow industrials pierced the 10,000 level on Wednesday for the first time in a year on surprisingly robust company results and better-than-expected retail sales. Based on the latest available data, the Dow Jones industrial average was up 144.88 points,
Published 15 Oct, 2009 12:00am
Jakarta shares up

Jakarta shares up

Indonesian shares closed 1.61 percent higher on Wednesday as stronger oil prices inspired buying in commodity-related stocks after recent pullbacks, dealers said. The Jakarta Composite Index gained 39.73 points to 2,511.72 in moderate volume. Traders said
Published 15 Oct, 2009 12:00am
MOL discovers new gas in Tal Block

MOL discovers new gas in Tal Block

Hungarian oil and gas firm has made a new discovery of gas and condensate at the Maramzai-1 well in the Tal Block in Pakistan, the company said on Wednesday. The production of the well is 1.1 million cubic metres of gas per day and 228 cubic meters of con
Published 15 Oct, 2009 12:00am
Hong Kong shares end 1.95 percent higher

Hong Kong shares end 1.95 percent higher

Hong Kong shares ended 1.95 percent higher on Wednesday, with sentiment lifted by better-than-expected economic data out of China and further US dollar weakness boosting commodities stocks, dealers said. The benchmark Hang Seng Index finished 419.12 point
Published 15 Oct, 2009 12:00am
MOL discovers new gas in Tal Block

MOL discovers new gas in Tal Block

Hungarian oil and gas firm has made a new discovery of gas and condensate at the Maramzai-1 well in the Tal Block in Pakistan, the company said on Wednesday. The production of the well is 1.1 million cubic metres of gas per day and 228 cubic meters of con
Published 15 Oct, 2009 12:00am
Wall Street falters

Wall Street falters

US stocks weakened on Tuesday as disappointing sales from Johnson & Johnson (J&J) stirred jitters about the strength of earnings, snapping the S&P 500's six-day winning streak. With the last two earnings periods characterised by cost cutting, investors ha
Published 15 Oct, 2009 12:00am
Gilani, Putin vow to boost economic ties

Gilani, Putin vow to boost economic ties

Pakistan and Russia on Wednesday agreed to strengthen their bilateral and economic ties in a bid to give new dimension to their relationship. Prime Minister Syed Yousuf Raza Gilani and his Russian counterpart Vladimir Putin, who met on the sidelines of th
Published 15 Oct, 2009 12:00am
US aid bill: document to subside furore, says Qureshi

US aid bill: document to subside furore, says Qureshi

Foreign minister voiced hope Wednesday that a furor at home over a giant US aid package would subside after US lawmakers gave written guarantees it would not violate the Pakistan's sovereignty. Foreign Minister Shah Mehmood Qureshi rushed to Washington af
Published 15 Oct, 2009 12:00am
Chinese shares rally

Chinese shares rally

Chinese shares closed up 1.17 percent on Wednesday, led by hopes for good third-quarter results in the property sector while better-than-expected trade data also boosted sentiment, dealers said. The Shanghai Composite Index, which covers both A and B shar
Published 15 Oct, 2009 12:00am
India urges China to stop projects in AJK

India urges China to stop projects in AJK

India urged China on Wednesday to stop building projects inside the Azad Kashmir region, the latest salvo prompted by a decades-long border dispute between the Asian giants. The sharp exchanges between the two sides underline the fragility of their relati
Published 15 Oct, 2009 12:00am
Taiwan stocks close near 16-month high

Taiwan stocks close near 16-month high

Taiwan stocks rose 1.31 percent to their highest close in nearly 16 months on Wednesday, with chip makers including TSMC rising after Intel reported quarterly earnings that beat market expectations. The main TAIEX share index closed up 99.15 points at 7,6
Published 15 Oct, 2009 12:00am
India urges China to stop projects in AJK

India urges China to stop projects in AJK

India urged China on Wednesday to stop building projects inside the Azad Kashmir region, the latest salvo prompted by a decades-long border dispute between the Asian giants. The sharp exchanges between the two sides underline the fragility of their relati
Published 15 Oct, 2009 12:00am
Seoul shares soar

Seoul shares soar

Seoul shares rose on Wednesday, lifted by foreign buying and solid gains in POSCO amid earnings optimism ahead of its quarterly results announcement, but shipping issues weighed on the index. Analysts said relatively modest falls in US markets and a bulli
Published 15 Oct, 2009 12:00am
US Treasury prices jump

US Treasury prices jump

US Treasury debt prices jumped on Tuesday, recovering from the worst selloff in more than a month, as falling stocks and suggestions of a sluggish economic recovery revived a safety bid for bonds. Investors bid heavily for new Treasury bills at auctions a
Published 15 Oct, 2009 12:00am
US Treasury prices jump

US Treasury prices jump

US Treasury debt prices jumped on Tuesday, recovering from the worst selloff in more than a month, as falling stocks and suggestions of a sluggish economic recovery revived a safety bid for bonds. Investors bid heavily for new Treasury bills at auctions a
Published 15 Oct, 2009 12:00am
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