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Print - 2009-10-28
Government urged to ban yarn export to stabilise prices

Government urged to ban yarn export to stabilise prices

The speculators have virtually taken over the local cotton and yarn market where rates of almost all yarn brands and counts have gone up by Rs 15 to Rs 70 per bundle during last 15 days, which is an unprecedented hike during last decade. APCPA Chairman Ak
Published 28 Oct, 2009 12:00am
India advises citizens against travel to Pakistan

India advises citizens against travel to Pakistan

India has advised its citizens against travel to Pakistan, citing security reasons, the home (interior) ministry said on Tuesday, as ties between the two countries continue strained. Thousands of Indian pilgrims, mainly Sikhs, travel to Pakistan's Punjab
Published 28 Oct, 2009 12:00am
Thailand to sell rice in government-to-government deals

Thailand to sell rice in government-to-government deals

Thailand, the world's biggest rice exporter, plans to sell 950,000 tonnes of rice from its stocks through government-to-government deals by the end of 2009, the commerce minister said on Tuesday. "Our strategy is to drain rice out of the country in a bid
Published 28 Oct, 2009 12:00am
Vietnam's October coffee exports jump

Vietnam's October coffee exports jump

Vietnam's October coffee shipments leapt 54 percent from a year ago, but traders said the sharp rise reflected old contract volumes and that trading was effectively on hold, waiting for falling London prices to turn. October is the first month of Vietnam'
Published 28 Oct, 2009 12:00am
Indonesian sugar output seen below government forecast

Indonesian sugar output seen below government forecast

Indonesia's 2009 sugar output will match last year's 2.57 million tonnes, but fall short of the government's forecast for 2.7 million tonnes as erratic weather cut the sugar content in cane, an official said on Tuesday. This year's output will also be wel
Published 28 Oct, 2009 12:00am
Oil cake market rates

Oil cake market rates

Upward trend was seen on the forward cottonseed oilcake market on Tuesday in process of trading, dealers said. The December vaida, which closed at 908.30 opened with a rise of 20 paisa at Rs 908.50, and the January contract that ended at Rs 951.80 opened
Published 28 Oct, 2009 12:00am
Lint prices, spot rate back on upward march on cotton market

Lint prices, spot rate back on upward march on cotton market

Downfall proved short-lived as prices went up on the cotton market on Tuesday amid shrinking business activity, dealers said. The official spot rate moved up modestly, gaining Rs 25 to Rs 3725, brokers said. In the ready business rates improved modestly a
Published 28 Oct, 2009 12:00am
Moong, masoor sharply lower on grain market

Moong, masoor sharply lower on grain market

Sluggish business was seen on the wholesale grain and seed markets on Tuesday as most of the items maintained the overnight levels in process of trading, dealers said. On the cereal side moong Punjab was lower by Rs 125 to Rs 4375 masoor Canada followed s
Published 28 Oct, 2009 12:00am
Top EU official slams German economic policy

Top EU official slams German economic policy

Germany's fiscal policy is unsustainable for future generations and risks setting a bad example for other European nations, the eurozone's top finance official was quoted as saying on Tuesday. Jean-Claude Juncker, prime minister of Luxembourg and chairman
Published 28 Oct, 2009 12:00am
Dollar 'world's strongest currency': Japanese minister

Dollar 'world's strongest currency': Japanese minister

Japan's finance minister said Tuesday that the dollar was still the world's strongest currency and it was natural for Tokyo to keep large stockpiles of the greenback. "It is clear that the dollar is still the world's strongest currency," Finance Minister
Published 28 Oct, 2009 12:00am
US wants further yuan rise; China says need time

US wants further yuan rise; China says need time

The United States welcomes the rise in the yuan's exchange rate in recent years but wants the currency to climb further, visiting Commerce Secretary Gary Locke said on Tuesday. However, a Chinese trade official said that despite pressure for the yuan to a
Published 28 Oct, 2009 12:00am
Italy raids Swiss banks as tax amnesty row deepens

Italy raids Swiss banks as tax amnesty row deepens

Police raided 76 branches and offices of Swiss banks in Italy on Tuesday, raising tensions between the two countries over a tax amnesty which Rome hopes will bring back billions of euros illegally held abroad. The Italian tax agency said hundreds of polic
Published 28 Oct, 2009 12:00am
EU gives go-ahead for Pepsi bottler deal

EU gives go-ahead for Pepsi bottler deal

The EU's competition watchdog on Tuesday cleared the plan by PepsiCo, the maker of Pepsi soft drinks, to acquire full control of its two key bottlers for 7.8 billion dollars, creating one of the largest food and beverage companies. "After examining the op
Published 28 Oct, 2009 12:00am
US Job market rut deepens, consumer gloom

US Job market rut deepens, consumer gloom

US consumer confidence deteriorated sharply in October as the worst job market in a quarter century heightened concerns about the future, more than outweighing modest improvements in the housing sector. Despite the stability in house prices, which saw a f
Published 28 Oct, 2009 12:00am
India, China and Russia seek role in Afghan policy

India, China and Russia seek role in Afghan policy

The foreign ministers of Russia, China and India said on Tuesday that the world must remain engaged in Afghanistan, with Moscow seeking a greater role for regional powers in stabilising the war-torn country. The appeal by the three big powers comes at a t
Published 28 Oct, 2009 12:00am
Forum seeks ways to assess world well-being rather than wealth

Forum seeks ways to assess world well-being rather than wealth

International experts Tuesday debated ways to measure the world's well-being, in line with G20 calls for statisticians to take into account people's happiness and not just their economic output. The global economic crisis "has revealed the growing gap bet
Published 28 Oct, 2009 12:00am
India, China and Russia seek role in Afghan policy

India, China and Russia seek role in Afghan policy

The foreign ministers of Russia, China and India said on Tuesday that the world must remain engaged in Afghanistan, with Moscow seeking a greater role for regional powers in stabilising the war-torn country. The appeal by the three big powers comes at a t
Published 28 Oct, 2009 12:00am
BP to temporarily manage India market operations from Dubai

BP to temporarily manage India market operations from Dubai

BP Plc will temporarily manage its Indian supply and trading business from Dubai after four of its five-member team quit in the last two months, official sources said on Tuesday. "This is an interim arrangement. BP Singapore is exploring options to implem
Published 28 Oct, 2009 12:00am
BP's profit halves

BP's profit halves

BP Plc beat third-quarter earnings forecasts by a big margin in a sign Chief Executive Tony Hayward's restructuring plans were delivering results, with cost cuts ahead of targets and oil and gas output up strongly. BP said third-quarter replacement cost n
Published 28 Oct, 2009 12:00am
BP's profit halves

BP's profit halves

BP Plc beat third-quarter earnings forecasts by a big margin in a sign Chief Executive Tony Hayward's restructuring plans were delivering results, with cost cuts ahead of targets and oil and gas output up strongly. BP said third-quarter replacement cost n
Published 28 Oct, 2009 12:00am
LSM witnesses 0.17 percent growth in July-August

LSM witnesses 0.17 percent growth in July-August

Large Scale Manufacturing (LSM) witnessed 0.17 percent growth during the first two months of current fiscal year over the same period of last year, according to Federal Bureau of Statistics (FBS). This growth was computed on the basis of production data o
Published 28 Oct, 2009 12:00am
India begins tightening monetary policy

India begins tightening monetary policy

India's central bank laid the groundwork on Tuesday for a rise in interest rates by tightening credit to the commercial property sector, lifting its inflation forecast and warning of the threat of asset price bubbles. As expected, the Reserve Bank of Indi
Published 28 Oct, 2009 12:00am
LSM witnesses 0.17 percent growth in July-August

LSM witnesses 0.17 percent growth in July-August

Large Scale Manufacturing (LSM) witnessed 0.17 percent growth during the first two months of current fiscal year over the same period of last year, according to Federal Bureau of Statistics (FBS). This growth was computed on the basis of production data o
Published 28 Oct, 2009 12:00am
Sarkozy announces 1.65-billion-euro farm aid plan

Sarkozy announces 1.65-billion-euro farm aid plan

President Nicolas Sarkozy on Tuesday announced an "unprecedented" 650-million-euro (970-million-dollar) aid plan for French farmers along with one billion euros in loans to the sector. "There is no question of France abandoning its agriculture," Sarkozy s
Published 28 Oct, 2009 12:00am
LSM witnesses 0.17 percent growth in July-August

LSM witnesses 0.17 percent growth in July-August

Large Scale Manufacturing (LSM) witnessed 0.17 percent growth during the first two months of current fiscal year over the same period of last year, according to Federal Bureau of Statistics (FBS). This growth was computed on the basis of production data o
Published 28 Oct, 2009 12:00am
Eurozone bank lending contracts for the first time: ECB

Eurozone bank lending contracts for the first time: ECB

Bank lending to the eurozone private sector shrank in September for the first time on record, the European Central Bank said on Tuesday, a stark warning that any recovery is fraught with uncertainty. Lending contracted by 0.3 percent in September, a bank
Published 28 Oct, 2009 12:00am
US charges two suspects with plotting attacks in Denmark

US charges two suspects with plotting attacks in Denmark

US authorities charged two men for plotting terror attacks abroad, including on the Danish newspaper that published caricatures of the Hazrat Muhammed (PBUH) in 2005, the Department of Justice said Tuesday. The men, who live in the Chicago area, were iden
Published 28 Oct, 2009 12:00am
Australian business confidence jumps to seven-year high

Australian business confidence jumps to seven-year high

Australian business confidence has shot up to a near seven-year high after the economy's strong performance in the global downturn, a survey said on Tuesday. National Australia Bank's (NAB) quarterly survey showed a 20-point leap to positive 16, the highe
Published 28 Oct, 2009 12:00am
US charges two suspects with plotting attacks in Denmark

US charges two suspects with plotting attacks in Denmark

US authorities charged two men for plotting terror attacks abroad, including on the Danish newspaper that published caricatures of the Hazrat Muhammed (PBUH) in 2005, the Department of Justice said Tuesday. The men, who live in the Chicago area, were iden
Published 28 Oct, 2009 12:00am
China to drive private investment with stimulus

China to drive private investment with stimulus

China will aim to encourage more private investment in the next phase of its 4 trillion yuan ($585 billion) stimulus package, which has been instrumental in reviving the economy, the National Development and Reform Commission said on Tuesday. The massive
Published 28 Oct, 2009 12:00am
Thousands protest bailout bonuses at Chicago bank meeting

Thousands protest bailout bonuses at Chicago bank meeting

Thousands of protesters chanted "the banks got bailed out we got sold out" as they marched through the streets of Chicago on their way to a meeting of US bankers Tuesday. Carrying signs proclaiming "Hold Wall Street accountable" and "Foreclosures ruin com
Published 28 Oct, 2009 12:00am
Tata Steel India second quarter net down 49.5 percent

Tata Steel India second quarter net down 49.5 percent

Tata Steel Ltd, the world's No 8 steel maker by output, on Tuesday said quarterly profit fell by half, missing forecast, on falling prices, sending its shares down. The company, which acquired Europe's second-largest steelmaker Corus in 2007, said standal
Published 28 Oct, 2009 12:00am
Thousands protest bailout bonuses at Chicago bank meeting

Thousands protest bailout bonuses at Chicago bank meeting

Thousands of protesters chanted "the banks got bailed out we got sold out" as they marched through the streets of Chicago on their way to a meeting of US bankers Tuesday. Carrying signs proclaiming "Hold Wall Street accountable" and "Foreclosures ruin com
Published 28 Oct, 2009 12:00am
Tata Steel India second quarter net down 49.5 percent

Tata Steel India second quarter net down 49.5 percent

Tata Steel Ltd, the world's No 8 steel maker by output, on Tuesday said quarterly profit fell by half, missing forecast, on falling prices, sending its shares down. The company, which acquired Europe's second-largest steelmaker Corus in 2007, said standal
Published 28 Oct, 2009 12:00am
Thousands protest bailout bonuses at Chicago bank meeting

Thousands protest bailout bonuses at Chicago bank meeting

Thousands of protesters chanted "the banks got bailed out we got sold out" as they marched through the streets of Chicago on their way to a meeting of US bankers Tuesday. Carrying signs proclaiming "Hold Wall Street accountable" and "Foreclosures ruin com
Published 28 Oct, 2009 12:00am
US industries cite higher demand in third quarter

US industries cite higher demand in third quarter

More US industries are experiencing an increase in demand and profits, a survey showed on Monday, further proof the economy started growing again in the third quarter after a prolonged recession. In its latest industry survey, the NAoBE said the improved
Published 28 Oct, 2009 12:00am
Obama unveils historic power grid reform

Obama unveils historic power grid reform

President Barack Obama Tuesday announced the largest modernisation of the US electricity grid in history, in a 3.4-billion-dollar bid to launch a new era of renewable energy consumption. The president toured the largest solar energy plant in the United St
Published 28 Oct, 2009 12:00am
French consumer mood improves despite job cuts

French consumer mood improves despite job cuts

French household confidence rose for the third straight month in October, official data showed on Tuesday, as consumers shrugged off accelerating job cuts in the euro zone's second largest economy. Consumer confidence edged up to -35 in October, from -36
Published 28 Oct, 2009 12:00am
Obama unveils historic power grid reform

Obama unveils historic power grid reform

President Barack Obama Tuesday announced the largest modernisation of the US electricity grid in history, in a 3.4-billion-dollar bid to launch a new era of renewable energy consumption. The president toured the largest solar energy plant in the United St
Published 28 Oct, 2009 12:00am
South Koreans upbeat on economy, but government cautious

South Koreans upbeat on economy, but government cautious

South Korean consumer confidence hit a 7-1/2-year high in October, keeping the Bank of Korea on course to raise interest rates early next year as the government repeated its warning against any hasty action. The Bank of Korea consumer sentiment index, com
Published 28 Oct, 2009 12:00am
Obama unveils historic power grid reform

Obama unveils historic power grid reform

President Barack Obama Tuesday announced the largest modernisation of the US electricity grid in history, in a 3.4-billion-dollar bid to launch a new era of renewable energy consumption. The president toured the largest solar energy plant in the United St
Published 28 Oct, 2009 12:00am
Bank of Canada raps financial industry over pay

Bank of Canada raps financial industry over pay

Bank of Canada Governor Mark Carney delivered a blunt rebuke to the global financial industry on Monday, saying it had shown insensitivity over high compensation and calling on it to get on board with reforms. "Relief is in danger of giving way to hubris,
Published 28 Oct, 2009 12:00am
FBR to announce monthly reward scheme for its officials shortly

FBR to announce monthly reward scheme for its officials shortly

The Federal Board of Revenue (FBR) would soon announce monthly reward scheme for tax officials'' to give monetary rewards on the basis of achieving revenue collection targets. Sources told Business Recorder here on Tuesday that FBR''s monthly rewar
Published 28 Oct, 2009 12:00am
Sri Lanka's president orders state bank lending cuts

Sri Lanka's president orders state bank lending cuts

Sri Lanka's president on Tuesday ordered state banks to slash lending rates by almost half, after repeated cuts by the central bank failed to bring down commercial lending rates, the president's office said. The decision by President Mahinda Rajapaksa in
Published 28 Oct, 2009 12:00am
FBR to announce monthly reward scheme for its officials shortly

FBR to announce monthly reward scheme for its officials shortly

The Federal Board of Revenue (FBR) would soon announce monthly reward scheme for tax officials' to give monetary rewards on the basis of achieving revenue collection targets. Sources told Business Recorder here on Tuesday that FBR's monthly reward
Published 28 Oct, 2009 12:00am
Toshiba loses about $630 million in first half

Toshiba loses about $630 million in first half

Japanese high-tech giant Toshiba Corp said Tuesday that it had lost about 630 million dollars in the six months to September due to a strong yen and weak economy. Toshiba estimated its first-half net loss at 58 billion yen, based on preliminary results, c
Published 28 Oct, 2009 12:00am
FBR to announce monthly reward scheme for its officials shortly

FBR to announce monthly reward scheme for its officials shortly

The Federal Board of Revenue (FBR) would soon announce monthly reward scheme for tax officials' to give monetary rewards on the basis of achieving revenue collection targets. Sources told Business Recorder here on Tuesday that FBR's monthly reward
Published 28 Oct, 2009 12:00am
Toshiba loses about $630 million in first half

Toshiba loses about $630 million in first half

Japanese high-tech giant Toshiba Corp said Tuesday that it had lost about 630 million dollars in the six months to September due to a strong yen and weak economy. Toshiba estimated its first-half net loss at 58 billion yen, based on preliminary results, c
Published 28 Oct, 2009 12:00am
BoI chief''s absence: Prime Minister demands explanation

BoI chief''s absence: Prime Minister demands explanation

Prime Minister Syed Yusuf Raza Gilani has asked the Ministry of Investment to explain the reasons behind the absence of Chairman Board of Investment Saleem H Mandviwala from the important event of Pak-Turkish chief executive officers forum presided over b
Published 28 Oct, 2009 12:00am
McCann to head UBS US wealth unit, no sale plans

McCann to head UBS US wealth unit, no sale plans

Merrill Lynch veteran Robert McCann, the new head of UBS's loss-making US wealth management unit, said he had no plans to sell the business that was battered by a high-profile tax row. McCann, who led the wealth management business at Merrill Lynch until
Published 28 Oct, 2009 12:00am
BoI chief's absence: Prime Minister demands explanation

BoI chief's absence: Prime Minister demands explanation

Prime Minister Syed Yusuf Raza Gilani has asked the Ministry of Investment to explain the reasons behind the absence of Chairman Board of Investment Saleem H Mandviwala from the important event of Pak-Turkish chief executive officers forum presided over b
Published 28 Oct, 2009 12:00am
Thai fourth quarter GDP seen growing 3-4 percent

Thai fourth quarter GDP seen growing 3-4 percent

Thailand's economy is expected to grow 3-4 percent in the fourth quarter of this year from a year earlier after a likely contraction of 3.5-4.0 percent in the third, a senior Finance Ministry official said on Tuesday. Gross domestic product is expected to
Published 28 Oct, 2009 12:00am
BoI chief's absence: Prime Minister demands explanation

BoI chief's absence: Prime Minister demands explanation

Prime Minister Syed Yusuf Raza Gilani has asked the Ministry of Investment to explain the reasons behind the absence of Chairman Board of Investment Saleem H Mandviwala from the important event of Pak-Turkish chief executive officers forum presided over b
Published 28 Oct, 2009 12:00am
South Africa faces big fiscal deficit

South Africa faces big fiscal deficit

South Africa's fiscal deficit will spike to 7.6 percent of output this year in the face of high public spending to boost growth and create jobs, the finance minister announced in his mid-term budget Tuesday. In his maiden budget, Finance Minister Pravin G
Published 28 Oct, 2009 12:00am
Black Day observed by Kashmiris

Black Day observed by Kashmiris

Kashmiris on both sides of the Line of Control and all across the world observed Black Day on Tuesday, to convey to the international community that they reject India's illegal occupation on their soil. The Kashmir Media Service reported that call for obs
Published 28 Oct, 2009 12:00am
Hong Kong, Shanghai shares at multi-week lows

Hong Kong, Shanghai shares at multi-week lows

Shares in China and Hong Kong closed at multi-week lows on Tuesday, as weak overseas markets prompted investors to pocket recent gains, while energy and metals stocks retreated on soft commodity prices. In Shanghai, China's key stock index sank 2.83 perce
Published 28 Oct, 2009 12:00am
Black Day observed by Kashmiris

Black Day observed by Kashmiris

Kashmiris on both sides of the Line of Control and all across the world observed Black Day on Tuesday, to convey to the international community that they reject India's illegal occupation on their soil. The Kashmir Media Service reported that call for obs
Published 28 Oct, 2009 12:00am
Wall Street declines

Wall Street declines

US stocks fell for a second straight session on Monday as investors ditched home builders and financials on fears lawmakers may let a federal home buyer tax credit expire, while commodity shares succumbed to pressure from the higher US dollar. Trading was
Published 28 Oct, 2009 12:00am
Thai share prices higher

Thai share prices higher

The Thai stock market was up 0.38 percent Tuesday on bargain hunting in property shares, an analyst said. The Stock Exchange of Thailand (SET) composite index rose 2.71 points to close at 714.54, and the blue chip SET-50 index closed up 1.32 points at 506
Published 28 Oct, 2009 12:00am
Treasuries tumble

Treasuries tumble

US Treasury bond prices fell sharply on Monday as investors gasped at another record round of new debt auctions and fretted over the possible timing of a Federal Reserve policy reversal. Solid results for a sale of $7 billion in five-year inflation-protec
Published 28 Oct, 2009 12:00am
Treasuries tumble

Treasuries tumble

US Treasury bond prices fell sharply on Monday as investors gasped at another record round of new debt auctions and fretted over the possible timing of a Federal Reserve policy reversal. Solid results for a sale of $7 billion in five-year inflation-protec
Published 28 Oct, 2009 12:00am
Another brigadier targeted, escapes unhurt

Another brigadier targeted, escapes unhurt

A Brigadier of Pakistan Army narrowly escaped an attempt on his life when two unidentified gunmen targeted his jeep in I-9 sector of the federal capital on Tuesday morning. The I-9 Police, Anti-Terrorist Squad and other law enforcement agencies rushed to
Published 28 Oct, 2009 12:00am
Indonesian shares 1.72 percent down

Indonesian shares 1.72 percent down

Indonesian shares closed 1.72 percent lower Tuesday led by conglomerate Bakrie group, which accounts for about a quarter of trading, on concerns over debt management, dealers said. The Jakarta Composite Index lost 42.51 points to 2,425.20.
Published 28 Oct, 2009 12:00am
Another brigadier targeted, escapes unhurt

Another brigadier targeted, escapes unhurt

A Brigadier of Pakistan Army narrowly escaped an attempt on his life when two unidentified gunmen targeted his jeep in I-9 sector of the federal capital on Tuesday morning. The I-9 Police, Anti-Terrorist Squad and other law enforcement agencies rushed to
Published 28 Oct, 2009 12:00am
Seoul shares edge down

Seoul shares edge down

Seoul shares shed 0.5 percent on Tuesday weighed by falls in memory chip issues such as Samsung Electronics and shipbuilders, but gains in auto makers including Hyundai Motor boosted markets. The Korea Composite Stock Price Index (KOSPI) finished down 0.4
Published 28 Oct, 2009 12:00am
No sugar mill started boilers'' light-up yet

No sugar mill started boilers'' light-up yet

No sugar mill in the country has yet started boilers light-up - an initial stage of sugarcane crushing - to meet the government deadline. Now a large number of mills are expected to default on loan repayment to banks on or before October 31, the last date
Published 28 Oct, 2009 12:00am
Taiwan stocks drop

Taiwan stocks drop

Taiwan stocks ended down 0.14 percent on Tuesday as overnight losses on Wall Street induced profit taking, but gains in Asustek provided some support after reporting better-than-expected earnings. The main TAIEX share index closed 11.06 points lower at 7,
Published 28 Oct, 2009 12:00am
No sugar mill started boilers' light-up yet

No sugar mill started boilers' light-up yet

No sugar mill in the country has yet started boilers light-up - an initial stage of sugarcane crushing - to meet the government deadline. Now a large number of mills are expected to default on loan repayment to banks on or before October 31, the last date
Published 28 Oct, 2009 12:00am
Tokyo stocks slip

Tokyo stocks slip

The Nikkei average lost 1.5 percent on Tuesday as Astellas Pharma sank after saying it was terminating development of an arthritis drug, while resource-linked stocks were hurt by lower oil prices. Blue chip exporters such as Honda Motor Co also dragged on
Published 28 Oct, 2009 12:00am
No sugar mill started boilers' light-up yet

No sugar mill started boilers' light-up yet

No sugar mill in the country has yet started boilers light-up - an initial stage of sugarcane crushing - to meet the government deadline. Now a large number of mills are expected to default on loan repayment to banks on or before October 31, the last date
Published 28 Oct, 2009 12:00am
Malaysian shares flat

Malaysian shares flat

Malaysian shares ended flat Tuesday with the market in negative territory throughout the day, dealers said. The Kuala Lumpur Composite Index edged up 0.38 points to 1,260.30 on volume of 1.01 billion shares worth 1.32 billion ringgit (388.52 million dolla
Published 28 Oct, 2009 12:00am
Philippines shares lower

Philippines shares lower

Philippines share prices closed 0.20 percent lower on Tuesday, pulled down by a tumble on Wall Street, dealers said. The composite index fell 5.79 points to 2,935.74 while the all-shares index fell 0.31 percent to 1,846.71. There were 49 gainers against 7
Published 28 Oct, 2009 12:00am
Yuan down

Yuan down

Spot yuan closed slightly lower against the dollar on Tuesday after the Chinese central bank set the yuan's mid-point at a one-month low and the United States said it sought more progress on yuan appreciation. The United States welcomed the rise in the yu
Published 28 Oct, 2009 12:00am
Dollar eases

Dollar eases

The dollar eased against a basket of currencies on Tuesday, trimming some of the previous day's sharp gains as investor selling of stretched higher-yielding currencies and the euro paused. The euro had its steepest drop since early August on Monday, falli
Published 28 Oct, 2009 12:00am
Dollar rallies

Dollar rallies

The US dollar rose broadly on Monday, rebounding from a 14-month low against the euro as falling stock and commodity prices prompted investors to lock in recent gains in other currencies. Traders were also reluctant to push the euro higher given the huge
Published 28 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 Tuesday. 69.14/69.15 (previous 69.15/69.15). Call Money Rates: 2.50-6.75 percent (previous 2.00-6.75 percent).
Published 28 Oct, 2009 12:00am
Australian dollar off lows

Australian dollar off lows

The Australian dollar stayed well below recent 14-month peaks on Tuesday, hurt by profit taking in long positions by investors, although buying by funds and others at dips checked a sharper decline. The Aussie was at $0.9182, recovering from a low of $0.9
Published 28 Oct, 2009 12:00am
Asian currencies: rupiah and peso at multi-week lows

Asian currencies: rupiah and peso at multi-week lows

A rebound in the US dollar touched off a wave of profit-taking in Asian currencies on Tuesday, with the high-yielding Indonesian rupiah falling as much as one percent. Analysts said that while Asian currencies may give up some of the sharp gains they have
Published 28 Oct, 2009 12:00am
Hong Kong dollar stays strong

Hong Kong dollar stays strong

The Hong Kong dollar remained at the top of its trading band against the US dollar on Tuesday amid a persistent inflow of funds into the territory and despite a correction in the stock market. "I wouldn't be surprised if the HKMA steps in again later in t
Published 28 Oct, 2009 12:00am
Asia soccer consultancy sees exponential growth potential

Asia soccer consultancy sees exponential growth potential

Asia's big appetite for soccer offers European clubs a fabulous opportunity for commercial growth but so far they have only flirted with the region's one billion fans, said the head of consulting firm Football Asia. While leading English clubs such as Man
Published 28 Oct, 2009 12:00am
Chigumbura helps Zimbabwe sink Bangladesh in one-dayer

Chigumbura helps Zimbabwe sink Bangladesh in one-dayer

A sparkling all-round display by Elton Chigumbura led Zimbabwe to a five-wicket victory over Bangladesh in Tuesday's opening one-day international. The medium-pacer picked up three for 27 as Bangladesh were bowled out for 186 in 46.5 overs. Chigumbura the
Published 28 Oct, 2009 12:00am
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