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Oct 05, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2009-10-27
JGBs retreat on Treasuries

JGBs retreat on Treasuries

Japanese government bonds fell on Monday, with the 10-year yield touching a fresh 2-1/2 month high, as supply worries continued to weigh on the market and after US Treasuries retreated on aggravated concerns that the Federal Reserve may depart from its lo
Published 27 Oct, 2009 12:00am
A stable Pakistan vital to region: Tayyip

A stable Pakistan vital to region: Tayyip

Turkish Prime Minister Recep Tayyip Erdogan on Monday assured Pakistan of his country's full support to combat terrorism and extremism for maintaining peace and stability in the world. In his historical address to the joint session of the Parliament, the
Published 27 Oct, 2009 12:00am
JGBs retreat on Treasuries

JGBs retreat on Treasuries

Japanese government bonds fell on Monday, with the 10-year yield touching a fresh 2-1/2 month high, as supply worries continued to weigh on the market and after US Treasuries retreated on aggravated concerns that the Federal Reserve may depart from its lo
Published 27 Oct, 2009 12:00am
A stable Pakistan vital to region: Tayyip

A stable Pakistan vital to region: Tayyip

Turkish Prime Minister Recep Tayyip Erdogan on Monday assured Pakistan of his country's full support to combat terrorism and extremism for maintaining peace and stability in the world. In his historical address to the joint session of the Parliament, the
Published 27 Oct, 2009 12:00am
Singapore shares flat

Singapore shares flat

Singapore shares closed flat Monday as investor doubts over the pace of the global recovery crept in, dealers said. The blue chip Straits Times Index gained 1.28 points or 0.05 percent to 2,716.62. Volume totalled 1.27 billion shares worth 952 million Sin
Published 27 Oct, 2009 12:00am
14 Americans killed in two Afghan helicopter crashes

14 Americans killed in two Afghan helicopter crashes

Helicopter crashes killed 14 Americans on Monday, including three DEA agents after a firefight with suspected Taliban drug traffickers. It was the deadliest day for the US in Afghanistan in more than four years. The casualties also marked the Drug Enforce
Published 27 Oct, 2009 12:00am
Taiwan stocks rise

Taiwan stocks rise

Taiwan stocks ended up 0.25 percent on Monday as media reports that Taiwan and China could speed up negotiation on an economic agreement fuelled gains in financial shares like Chinatrust Financial. The main TAIEX share index finished up 19.12 points at 7,
Published 27 Oct, 2009 12:00am
14 Americans killed in two Afghan helicopter crashes

14 Americans killed in two Afghan helicopter crashes

Helicopter crashes killed 14 Americans on Monday, including three DEA agents after a firefight with suspected Taliban drug traffickers. It was the deadliest day for the US in Afghanistan in more than four years. The casualties also marked the Drug Enforce
Published 27 Oct, 2009 12:00am
Philippines shares higher

Philippines shares higher

Philippines share prices closed 0.29 percent higher Monday with sentiment lifted by gains in Asian bourses despite a weak lead from the US, dealers said. The composite index added 8.54 points to 2,941.53 while the all shares index gained 4.51 points or 0.
Published 27 Oct, 2009 12:00am
MoP puts CNG price hike proposal on ice

MoP puts CNG price hike proposal on ice

The Petroleum Ministry has put on ice its own proposal regarding increase in compressed natural gas (CNG) prices from next month after strong opposition by the Planning Commission and possible political ramifications, sources told Business Recorder </i
Published 27 Oct, 2009 12:00am
Chinese shares higher

Chinese shares higher

China's key stock index edged up 0.06 percent on Monday with blue chips firmer on expectations of upbeat earnings while health-related shares rose and travel shares sank after the United States declared H1N1 flu a national emergency. The Shanghai Composit
Published 27 Oct, 2009 12:00am
MoP puts CNG price hike proposal on ice

MoP puts CNG price hike proposal on ice

The Petroleum Ministry has put on ice its own proposal regarding increase in compressed natural gas (CNG) prices from next month after strong opposition by the Planning Commission and possible political ramifications, sources told Business Recorder </i
Published 27 Oct, 2009 12:00am
Indonesian shares ends flat

Indonesian shares ends flat

Indonesian shares closed flat Monday with late selling in telecoms and bank stocks, dealers said. The Jakarta Composite Index edged down 0.24 points or 0.01 percent to 2,467.71 in light trade. "The market consolidated after Friday's 1.4 percent gain," a t
Published 27 Oct, 2009 12:00am
MoP puts CNG price hike proposal on ice

MoP puts CNG price hike proposal on ice

The Petroleum Ministry has put on ice its own proposal regarding increase in compressed natural gas (CNG) prices from next month after strong opposition by the Planning Commission and possible political ramifications, sources told Business Recorder </i
Published 27 Oct, 2009 12:00am
China yields rise

China yields rise

Chinese bill and bond yields mostly rose on Monday after Vice-Premier Li Keqiang said China's economic recovery was now solid, reinforcing expectations of strong economic growth. Loose global liquidity may cause commodity and oil prices to continue surgin
Published 27 Oct, 2009 12:00am
China yields rise

China yields rise

Chinese bill and bond yields mostly rose on Monday after Vice-Premier Li Keqiang said China's economic recovery was now solid, reinforcing expectations of strong economic growth. Loose global liquidity may cause commodity and oil prices to continue surgin
Published 27 Oct, 2009 12:00am
Seoul shares extend gain

Seoul shares extend gain

Seoul shares reversed earlier losses to end 1 percent higher on Monday as stronger than expected GDP data lifted sentiment and fuelled foreign buying appetite, with auto and retail issues leading gains. Gross domestic product data confirmed that South Kor
Published 27 Oct, 2009 12:00am
Taiwan dollar steady

Taiwan dollar steady

The Taiwan dollar closed steady in thin trade on Monday as US dollar buying by the central bank offset gains in the local currency from exporter deals and light foreign fund inflows. Foreign institutions bought a net T$7.128 billion ($216 million) in Taiw
Published 27 Oct, 2009 12:00am
Swiss franc up

Swiss franc up

The Swiss franc pushed towards parity against the dollar on Monday and traded flat against the euro as investors eyed key macroeconomic data due out later in the week. Data due on Thursday is expected to show US gross domestic product grew 3.3 percent in
Published 27 Oct, 2009 12:00am
Australian dollar bounces from lows

Australian dollar bounces from lows

The Australian dollar recouped some of its losses on Monday after a report from China suggested authorities there were looking to diversify the country's foreign exchange reserves. The Aussie had fallen to $0.9190 after lower-than-forecast producer price
Published 27 Oct, 2009 12:00am
Dollar falls to 14-month low

Dollar falls to 14-month low

The dollar fell to a 14-month low against the euro on Monday as a Chinese report saying Beijing should increase its holdings of euros and yen in its foreign reserves led investors to sell the greenback. The yen also got a boost from the opinion piece in t
Published 27 Oct, 2009 12:00am
Bangladesh interbank forex and interest rates

Bangladesh interbank forex and interest rates

Interbank buy/sell rates for the taka against the dollar on Monday. 69.15/69.15 (previous 69.15/69.15). Call Money Rates: 2.00-6.75 percent (previous 2.00-6.75 percent).
Published 27 Oct, 2009 12:00am
Asian currencies: Singapore dollar, baht track firmer euro

Asian currencies: Singapore dollar, baht track firmer euro

The Singapore dollar and Thai baht tracked a firmer euro on Monday after a report fanned speculation that China may diversify its foreign exchange reserves away from the US dollar. The dollar fell to a 14-month low against the euro after a Chinese central
Published 27 Oct, 2009 12:00am
Yuan ends up

Yuan ends up

Spot yuan ended up slightly against the dollar on Monday after China's vice premier said China would stick to appropriately loose monetary policy. Vice Premier Li Keqiang told an international tax conference on Monday that China's economic recovery had be
Published 27 Oct, 2009 12:00am
Leftist, former-president head for Uruguay vote run-off

Leftist, former-president head for Uruguay vote run-off

Former left-wing guerrilla fighter Jose Mujica finished first in Uruguay's presidential election but faces a run-off against a conservative to steer one of Latin America's most stable economies, official results showed on Monday. With ballots counted at n
Published 27 Oct, 2009 12:00am
Dubai investigator testifies in Chechen slaying

Dubai investigator testifies in Chechen slaying

A hand-drawn map showing the murder site of a former Chechen warlord was found in a Dubai apartment linked to two suspects in the slaying earlier this year, a police investigator testified Monday. The testimony provided the first public details of the pol
Published 27 Oct, 2009 12:00am
Mongolian Prime Minister steps down for health reasons

Mongolian Prime Minister steps down for health reasons

Mongolian Prime Minister Sanjaa Bayar tendered his resignation Monday due to health reasons, a government spokeswoman said, creating new political uncertainty in the poor but resource-rich Asian nation. "Today the prime minister has handed in his resignat
Published 27 Oct, 2009 12:00am
UN food agency says 200 million more people hungry

UN food agency says 200 million more people hungry

Most of the developing world is paying more for food despite drops in commodity market prices during the global economic slowdown, with 200 million people joining the ranks of the hungry in the past two years, the UN World Food Program said Monday. The ag
Published 27 Oct, 2009 12:00am
Governor blames 'human failure' for Baghdad carnage

Governor blames 'human failure' for Baghdad carnage

Baghdad's governor on Monday blamed "human failure" for the bombings in the heart of the capital that killed around 100 people, as Iraqi leaders kept up efforts to reach accord on a key election law. Dr Salah Abdul Razzaq, the governor, said his office ha
Published 27 Oct, 2009 12:00am
Mixed signals for Michael Jackson album sales

Mixed signals for Michael Jackson album sales

The new Michael Jackson record "This Is It" hits stores around the world on Monday, kicking off a week of money-spinning events dedicated to the "king of pop", but the outlook for the two-disc album is decidedly mixed. Experts predict that it will top cha
Published 27 Oct, 2009 12:00am
Top US general in Tajikistan for talks: official

Top US general in Tajikistan for talks: official

General David Petraeus, the commander of US forces in Afghanistan and Iraq, flew into Tajikistan Monday for top-level talks with the government in Dushanbe, US and Tajik officials said. Petraeus, whose visit comes as US President Barack Obama weighs sendi
Published 27 Oct, 2009 12:00am
German 'veil martyr' trial opens under tight security

German 'veil martyr' trial opens under tight security

A man accused of killing a pregnant Egyptian woman in court in a frenzied anti-Islamic attack went on trial in Germany Monday in a case that inflamed tempers throughout the Muslim world. Prosecutors say the defendant, Alex Wiens, then 28, stabbed Marwa al
Published 27 Oct, 2009 12:00am
Saudi man beheaded for killing relative

Saudi man beheaded for killing relative

A Saudi man was beheaded by the sword on Monday after being sentenced to death for shooting a relative during a dispute, the interior ministry said. Eid bin Mifrih al-Zahrani was executed in Al-Laith near Mekkah for killing his cousin, the ministry said,
Published 27 Oct, 2009 12:00am
Swiss bank employee gambled away $2.8 million

Swiss bank employee gambled away $2.8 million

Swiss police say a bank employee has admitted stealing millions from the bank's safe to fund her $60-89,000 a week gambling habit. Police in the northern canton of Schaffhausen say the 41-year-old woman confessed to embezzling $2.8 million over the course
Published 27 Oct, 2009 12:00am
Sri Lanka to probe US war crimes allegations

Sri Lanka to probe US war crimes allegations

The Sri Lankan government on Monday said it would investigate war crimes allegations made against its troops in a US State Department report. Human Rights Minister Mahinda Samarasinghe said President Mahinda Rajapakse would shortly name a committee to loo
Published 27 Oct, 2009 12:00am
Indian president heads to Britain

Indian president heads to Britain

Indian President Pratibha Patil left Monday for Britain, where she will join Queen Elizabeth II to launch the Commonwealth Games torch relay ahead of the event in New Delhi next year. The Queen will hand the Commonwealth Games baton to Patil on Thursday b
Published 27 Oct, 2009 12:00am
New date for Marseille-PSG to be set on Thursday

New date for Marseille-PSG to be set on Thursday

A new date will be set on Thursday for the match between Marseille and Paris Saint-Germain that was postponed due to an outbreak of swine flu at PSG, the French Professional League (LFP) announced on Monday. Marseille had requested that the match - origin
Published 27 Oct, 2009 12:00am
Spaniard Ramos sacked as CSKA Moscow coach

Spaniard Ramos sacked as CSKA Moscow coach

Spaniard Juande Ramos was sacked as CSKA Moscow coach on Monday following Sunday's 3-1 defeat by Russian Premier League rivals FK Moscow, the club said. "As of today the contract of Juande Ramos was terminated by mutual consent," CSKA said on their websit
Published 27 Oct, 2009 12:00am
PFF picks 70 players for national camp

PFF picks 70 players for national camp

Pakistan Football Federation (PFF)'s President, Makhdoom Syed Faisal Saleh Hayat has approved 70 players in the build up for the National U-19 football team to appear in the 36th AFC U-19 Championship (Group-D) 2009 to be played from 8th-16th December 200
Published 27 Oct, 2009 12:00am
Leave only lbws to umpires, says Tendulkar

Leave only lbws to umpires, says Tendulkar

Umpires should be left to adjudge only leg-before decisions while technology takes care of the rest, according to Indian batting legend Sachin Tendulkar. Tendulkar, 36, who begins his 21st year in international cricket next month, even advocated rotating
Published 27 Oct, 2009 12:00am
Venus, Serena not ready for retirement

Venus, Serena not ready for retirement

Venus and Serena Williams, ghetto-kids turned multi-millionaire senior citizens of women's tennis, go into the WTA Championships here insisting that retirement is not an option. In the last two years, the American sisters have seen former rivals Kim Clijs
Published 27 Oct, 2009 12:00am
Injuries torment Australia

Injuries torment Australia

Australia are grappling with injury worries over three of their key pacemen ahead of the second match of their one-day international series against India. Pace spearhead Brett Lee is struggling with a sore elbow, while Mitchell Johnson and James Hopes are
Published 27 Oct, 2009 12:00am
Younus Khan ready for more responsibility

Younus Khan ready for more responsibility

Pakistan captain Younus Khan said Monday he was ready to shoulder more responsibility after withdrawing his resignation over match-fixing allegations. In his first public appearance since resuming the captaincy last month following overwhelming support fr
Published 27 Oct, 2009 12:00am
Ten killed in Maoist-hit central India

Ten killed in Maoist-hit central India

Four policemen died in a Maoist landmine attack in central India and six rebels were killed in a shoot-out, officials said Monday, as government troops prepare to tackle a growing insurgency. The police officers were killed on Sunday about 450 kilometres
Published 27 Oct, 2009 12:00am
Gaddafi 'sorry' for UK policewoman's death

Gaddafi 'sorry' for UK policewoman's death

Libyan leader Muammar Gaddafi said "we are sorry" for the 1984 killing of a British policewoman outside the Libyan embassy in London which led Britain to suspend ties between the two countries for years. Yvonne Fletcher died after being hit by shots fired
Published 27 Oct, 2009 12:00am
Sri Lanka denies Tiger chief executed after surrender

Sri Lanka denies Tiger chief executed after surrender

The Sri Lankan government rejected on Monday fresh accusations that Tamil Tiger separatist leader Velupillai Prabhakaran was executed after surrendering to security forces. Sri Lanka's military announced on May 18 the killing of Prabhakaran, who led a 37-
Published 27 Oct, 2009 12:00am
Bangladesh attorney general receives death threat

Bangladesh attorney general receives death threat

Bangladesh's attorney general received a death threat Monday that demanded the release of prisoners convicted in the 1975 assassination of the country's founder, Sheikh Mujibur Rahman. An anonymous letter sent to Mahbubey Alam's office at the Supreme Cour
Published 27 Oct, 2009 12:00am
South Korea's court convicts disgraced stem cell scientist

South Korea's court convicts disgraced stem cell scientist

A South Korean court Monday imposed a suspended prison term on a disgraced scientist whose claims of stem-cell breakthroughs rocked the scientific world until his research was found to be faked. The Seoul court passed a two-year sentence suspended for thr
Published 27 Oct, 2009 12:00am
US military trains Georgian troops for Afghanistan mission

US military trains Georgian troops for Afghanistan mission

Georgian forces on Monday launched a joint training exercise with the US military ahead of the deployment of hundreds of Georgian troops next spring in Afghanistan, the defence ministry said. US military co-operation with pro-Western Georgia has strained
Published 27 Oct, 2009 12:00am
Madoff associate found dead

Madoff associate found dead

Florida investor and philanthropist Jeffry Picower, accused of making billions of dollars in his friend Bernard Madoff's fraud scheme, died Sunday after he was found at the bottom of his swimming pool, police said. Picower's wife discovered her husband at
Published 27 Oct, 2009 12:00am
Fidel Castro's sister worked with CIA in Cuba

Fidel Castro's sister worked with CIA in Cuba

The younger sister of Fidel and Raul Castro, Juanita Castro, collaborated with the US Central Intelligence Agency against her brothers' rule in Cuba before going into exile in Miami in 1964, she said on Sunday. Juanita Castro, 76, who has not spoken to ei
Published 27 Oct, 2009 12:00am
Saudi king waives lashing for female journalist

Saudi king waives lashing for female journalist

The Saudi king has waived the lashing a court ordered against a woman for working at a Lebanese television channel that aired a sexual confessions programme, an official said on Monday. "He (King Abdullah) has asked the ministry of justice to drop the las
Published 27 Oct, 2009 12:00am
Iran hints at acceptance of atom deal with powers

Iran hints at acceptance of atom deal with powers

Iran said on Monday it could endorse a UN deal for it to send potential nuclear fuel abroad for processing, contradicting lawmakers who rejected the plan sought by world powers as a trap. The remark by Foreign Minister Manouchehr Mottaki was the most posi
Published 27 Oct, 2009 12:00am
Flight attendant strike at Iberia

Flight attendant strike at Iberia

Spanish airline Iberia has cancelled around 440 flights because of a strike by flight attendants seeking pay increases. An Iberia official says the two-day strike will affect about a quarter of its Monday and Tuesday flights. Madrid's Barajas airport is t
Published 27 Oct, 2009 12:00am
North Korea completes launch site for larger missiles: report

North Korea completes launch site for larger missiles: report

North Korea has completed work on a new west coast site capable of launching improved intercontinental ballistic missiles, according to senior South Korean officials quoted by Yonhap news agency. The Dongchang-ri base has been under construction for sever
Published 27 Oct, 2009 12:00am
Judge warns Karadzic over boycott at start of genocide trial

Judge warns Karadzic over boycott at start of genocide trial

Radovan Karadzic boycotted the start of his UN genocide trial on Monday, forcing an adjournment for a day as the judge accused the Bosnian Serb wartime leader of obstructing the process. Karadzic, the political leader during Bosnia's 1992-95 war which lef
Published 27 Oct, 2009 12:00am
Afghan police open fire at demonstration

Afghan police open fire at demonstration

Afghan police Monday opened fire and turned a water cannon on demonstrators angry about allegations that Western troops torched a copy of Holy Quran, wounding at least three people, officials and witnesses said. Clashes erupted as police tried to prevent
Published 27 Oct, 2009 12:00am
French EU presidency cost one million euros per day

French EU presidency cost one million euros per day

The French 2008 presidency of the European Union was one of the costliest in history, with the government spending an average of 1 million euros (currently about 1.5 million dollars) a day, the online edition of the daily le Figaro reported Monday.
Published 27 Oct, 2009 12:00am
Spanish and French troops leave Kyrgyzstan base

Spanish and French troops leave Kyrgyzstan base

French and Spanish troops have left Kyrgyzstan's Manas air base, a staging post for US-led military operations in Afghanistan, but may return, a Kyrgyz government source and diplomats said on Monday. Ex-Soviet Kyrgyzstan cancelled deals with France and Sp
Published 27 Oct, 2009 12:00am
Provincial governor escapes assassination attempt

Provincial governor escapes assassination attempt

The governor of the eastern Afghan province of Nangarhar escaped unhurt Monday when an attacker opened fire on his convoy, a government spokesman said. Gul Agha Sherzai was en route to the provincial capital Jalalabad when an assailant equipped with a rif
Published 27 Oct, 2009 12:00am
Abdullah demands sacking of Afghan election chief

Abdullah demands sacking of Afghan election chief

Presidential candidate Abdullah Abdullah demanded on Monday the firing of Afghanistan's Independent Election Commission (IEC) chief and suspension of three cabinet ministers ahead of a run-off poll. Abdullah called for the "immediate dismissal" of Azizull
Published 27 Oct, 2009 12:00am
US man jailed in China for selling skulls

US man jailed in China for selling skulls

A Chinese-American academic has been sentenced to eight years in prison for selling human skulls unearthed in China to buyers overseas, state media reported Monday. The 44-year-old US national, only identified by his surname Ding, was sentenced on Septemb
Published 27 Oct, 2009 12:00am
Iran would need 18 months for atom bomb: diplomats

Iran would need 18 months for atom bomb: diplomats

Intelligence agencies estimate that it would probably take Iran a minimum of 18 months to develop a nuclear weapon if it chose to build one, Western diplomats and intelligence officials said. For years the US Central Intelligence Agency, Britain's MI6, Is
Published 27 Oct, 2009 12:00am
Australian shares ends down

Australian shares ends down

Australian share prices dropped 0.60 percent on Monday as investors stayed on the sidelines following a poor lead from the United States and weaker resources stocks, dealers said. The benchmark SP/ASX200 fell 29.1 points to 4,830.3 while the broader All O
Published 27 Oct, 2009 12:00am
Dollar, euro Libor set fresh all-time lows

Dollar, euro Libor set fresh all-time lows

Interbank lending costs fell on Monday after a surprise contraction in Britain's third-quarter economic growth boosted bets the Bank of England would expand its quantitative easing program. Those bets occurred even though US Treasuries prices retreated in
Published 27 Oct, 2009 12:00am
Dollar slips

Dollar slips

The dollar slipped on Monday, hitting a 14-month low against the euro following a Chinese report saying Beijing should increase its holdings of euros and yen in its foreign reserves. On an otherwise quiet day, investors jumped on the report as an excuse t
Published 27 Oct, 2009 12:00am
Sterling hobbles versus dollar, euro

Sterling hobbles versus dollar, euro

Sterling hit a one-week low against the dollar and the euro on Monday after a surprise contraction in UK economic growth dashed recent optimism the country is recovering. Last Friday's data prompted investors to acknowledge it is too early for the Bank of
Published 27 Oct, 2009 12:00am
Indian rupee eases

Indian rupee eases

The Indian rupee erased intraday gains to ease on Monday, as weaker equities raised concerns whether this year's robust capital inflows could be sustained, and traders awaited the central bank's rate decision on Tuesday.
Published 27 Oct, 2009 12:00am
Iran approves 1.5 billion euro bond issue plan

Iran approves 1.5 billion euro bond issue plan

Iran's government has approved a plan to issue a bond worth up to 1.5 billion euros on international markets to help finance priority development projects, state broadcaster IRIB reported on Monday. The proposal was made by the Economy Ministry and Centra
Published 27 Oct, 2009 12:00am
Iran approves 1.5 billion euro bond issue plan

Iran approves 1.5 billion euro bond issue plan

Iran's government has approved a plan to issue a bond worth up to 1.5 billion euros on international markets to help finance priority development projects, state broadcaster IRIB reported on Monday. The proposal was made by the Economy Ministry and Centra
Published 27 Oct, 2009 12:00am
Malaysian stocks tumble

Malaysian stocks tumble

Malaysian shares ended down 0.57 percent Monday due to disappointment over last week's budget announcement, dealers said. The Kuala Lumpur Composite Index fell 7.18 points to 1,259.92.
Published 27 Oct, 2009 12:00am
European stocks stay down; ING plummets

European stocks stay down; ING plummets

European stocks fell for a third session in a row on Monday as a sharp drop in oil and a rebound in the dollar sparked a late selloff, with ING sinking 18 percent after it unveiled plans to split up the company. Insurance shares took a beating after the D
Published 27 Oct, 2009 12:00am
Indian shares lower

Indian shares lower

Indian shares fell 0.42 percent on Monday, weighed down by index heavyweights as investors took profits with stock prices at near-16-month highs, dealers said. The benchmark 30-share Sensex index fell 70.31 points to 16,740.5. Energy giant Reliance Indust
Published 27 Oct, 2009 12:00am
European spreads widen marginally

European spreads widen marginally

European credit derivatives indices widened marginally on Monday in a very quiet credit market. The primary market remained favourable. Long-dated telecom issuance from Telefonica and Telecom Portugal were the highlights as both companies sold 10-year deb
Published 27 Oct, 2009 12:00am
European spreads widen marginally

European spreads widen marginally

European credit derivatives indices widened marginally on Monday in a very quiet credit market. The primary market remained favourable. Long-dated telecom issuance from Telefonica and Telecom Portugal were the highlights as both companies sold 10-year deb
Published 27 Oct, 2009 12:00am
Monday's afternoon trade: Wall Street falls

Monday's afternoon trade: Wall Street falls

US stocks fell on Monday as financial shares tumbled over concern that a federal tax credit for home buyers would expire and as commodity-related shares lost ground on falling oil prices. The S&P Financials index dropped 1.7 percent and a Dow Jones index
Published 27 Oct, 2009 12:00am
UK's top share index falls

UK's top share index falls

Britain's FTSE 100 share index ended 1 percent lower on Monday, with mining and energy stocks suffering as the US dollar rose and commodity prices fell, while a sharp decline in ING put pressure on financials. The index ended down 50.83 points at 5,191.74
Published 27 Oct, 2009 12:00am
New York cotton futures settle higher

New York cotton futures settle higher

Cotton futures settled higher on Monday as the market gyrated in a band, with players watching the movement of the dollar to determine the next move of the market, brokers said. The December cotton contract rose 0.03 cent to end at 67.41 cents per lb, dea
Published 27 Oct, 2009 12:00am
Copper hits 13-month high

Copper hits 13-month high

Copper touched a 13-month high before reversing gains in late trade on Monday, as a firmer dollar offset data showing hefty imports of the metal into China. Copper for three-months delivery on the London Metal Exchange closed at $6,613 a tonne, from a clo
Published 27 Oct, 2009 12:00am
Oil falls below $79

Oil falls below $79

Oil fell more than 2 percent to below $79 a barrel on Monday on concerns that a sluggish economic recovery will keep fuel demand low. Investors scaled back their commodities holdings following a recent rally for raw goods. Equities fell and the US dollar
Published 27 Oct, 2009 12:00am
London cocoa sets 24-1/2 year high

London cocoa sets 24-1/2 year high

March cocoa in London ended 1 pound higher at 2,208 pounds a tonne, underpinned by a weak pound on Monday. The market had earlier climbed to a new 24-1/2 year high for the second month of 2,226 pounds. December white sugar in London ended $9.30 lower at $
Published 27 Oct, 2009 12:00am
Gold at 10-day trough in European trade

Gold at 10-day trough in European trade

Gold prices fell to their lowest in 10 days in Europe on Monday, taking a cue from currencies as the dollar bounced off 14-month lows against the euro, with weak physical demand for the precious metal also weighing. Spot gold was bid at $1,046.05 an ounce
Published 27 Oct, 2009 12:00am
US MIDDAY: coffee and sugar climb

US MIDDAY: coffee and sugar climb

Summaries of the ICE Futures US cocoa, coffee and sugar markets early on Monday. December arabica coffee contract rose 0.70 cent to $1.3785 per lb at 11:10 am EDT (1510 GMT). Session range from $1.3550 to $1.3920. Arabica coffee futures consolidated after
Published 27 Oct, 2009 12:00am
US MIDDAY: corn, soya and wheat slip

US MIDDAY: corn, soya and wheat slip

Chicago Board of Trade corn and soyabeans slipped early Monday amid profit-taking triggered by outlooks for US harvest weather to improve next week, traders said. Wheat followed corn and soya lower. December wheat down 13-1/4 at $5.34-1/2; deferreds down
Published 27 Oct, 2009 12:00am
US MIDDAY: copper climbs

US MIDDAY: copper climbs

US copper futures climbed to a 13-month high Monday morning, buoyed by strong Chinese import figures in September and the dollar's dive to a 14-month low against the euro. Copper for December delivery up 2.75 cents at $3.0620 a lb by 10:22 am EDT (1422 GM
Published 27 Oct, 2009 12:00am
US MIDDAY: gold eases

US MIDDAY: gold eases

US gold futures edged lower in mixed trade on Monday as a flat dollar failed to give the metal a clear direction, and some bullion traders stayed on the sidelines ahead of option expirations. December gold futures down $1 at $1,055.40 an ounce at 10:52 am
Published 27 Oct, 2009 12:00am
PIAF urges government to take prudent decision to stabilise economy

PIAF urges government to take prudent decision to stabilise economy

The Pakistan Industrial and Traders Association Front (PIAF) has appealed the government not to neglect the declining condition of economy while fighting terrorism as economy simply needs prudent decisions and setting the priorities right. The industrial
Published 27 Oct, 2009 12:00am
Review of unplanned cotton and yarn export demanded

Review of unplanned cotton and yarn export demanded

Fashion designer Ayesha Shiraz Monday called for reviewing the country's export policy, saying that unplanned and unrestricted export of cotton and cotton yarn would have an adverse effect on the export of Pakistan's value-added apparels and garments.
Published 27 Oct, 2009 12:00am
Livestock industry: PBIT to create pro-investment climate

Livestock industry: PBIT to create pro-investment climate

The Punjab Board of Investment and Trade (PBIT) will create a pro-investment business operation procedure in the resource-rich sector of livestock and dairy development. This support will be a part of a wider goal to steadily elevate Punjab's average grow
Published 27 Oct, 2009 12:00am
Impact of recession

Impact of recession

The global recession that started in the fourth quarter of 2008 is expected to continue till mid-2010. It has affected, more or less, all the countries but the world has not witnessed anything as ruthless in terms of an economic crisis as was in the Great
Published 27 Oct, 2009 12:00am
'Out to target CCP'

'Out to target CCP'

Your editorial of 18 October, 2009, under the above caption, came in the wake of commentaries pouring on policy signals with reference to Noble Prizes '09 in Economics to Elinor Ostrom and Oliver Williamson. Work of both the laureates has to do with devel
Published 27 Oct, 2009 12:00am
Which way is Pakistan headed?

Which way is Pakistan headed?

Are we winning the war against terror? The plain and simple answer is No. There is no use living in denial. Few years down the road, our God given country will be more like Afghanistan or Somalia, no ifs and buts knowing the quality of our managers of sta
Published 27 Oct, 2009 12:00am
Murder in Quetta

Murder in Quetta

It was clearly a target-killing. Shafiq Ahmed Khan, the Balochistan education minister and a PPP representative in the Raisani provincial cabinet, was in the sight of elements that are systematically playing havoc with ethnic harmony in the province, part
Published 27 Oct, 2009 12:00am
Pakistan will miss the global economic upturn

Pakistan will miss the global economic upturn

The International Monetary Fund's (IMF) report titled Regional Economic Outlook has been released on its website; however its presentation on 29 October in Pakistan has been postponed. The reasons for the postponement, would no doubt, have to do with cont
Published 27 Oct, 2009 12:00am
Stage set for Asian Buffalo Congress

Stage set for Asian Buffalo Congress

The stage is set for a three-day Asian Buffalo Congress in the city tomorrow and the National Buffalo Fair on October 30, to be attended by 80 delegates from 25 countries and over 1400 from Pakistan. Secretary Livestock and Dairy Development, Punjab, Moha
Published 27 Oct, 2009 12:00am
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