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Print - 2009-10-31
Venezuela lawmakers approve central bank reform law

Venezuela lawmakers approve central bank reform law

Venezuela's National Assembly on Thursday approved a law to reform the central bank that analysts say will undermine the bank's autonomy and allow President Hugo Chavez access to more state funds. The modification allows the bank to fix special interest r
Published 31 Oct, 2009 12:00am
Equities move both ways on LSE

Equities move both ways on LSE

Equities moved both ways on Lahore Stock Exchange on Friday and ended in the red zone amid descending transaction volume on account of lack of interest on the part of both individual investors and institutions. The LSE-25 index declined by 6.32 points to
Published 31 Oct, 2009 12:00am
Eurozone consumer prices dip

Eurozone consumer prices dip

Consumer prices in the eurozone fell year-on-year for a fifth straight month in October, data showed, but they are expected to start growing in November as oil costs rise above year-earlier levels. The European Union's statistics agency said consumer pric
Published 31 Oct, 2009 12:00am
Equities move both ways on LSE

Equities move both ways on LSE

Equities moved both ways on Lahore Stock Exchange on Friday and ended in the red zone amid descending transaction volume on account of lack of interest on the part of both individual investors and institutions. The LSE-25 index declined by 6.32 points to
Published 31 Oct, 2009 12:00am
Chinese banks to fund $1.5 billion Texas wind farm

Chinese banks to fund $1.5 billion Texas wind farm

China took a big leap into the US renewable energy market Thursday, putting up $1.5 billion for a 36,000-acre (14,569-hectare) wind farm in Texas with the power to light up 180,000 homes. The project is a joint venture with US Renewable Energy Group, a pr
Published 31 Oct, 2009 12:00am
White House defends Clinton's remarks

White House defends Clinton's remarks

The White House is calling ``completely appropriate'' Secretary of State Hillary Rodham Clinton's suggestion that Pakistani officials might know where top terrorists are hiding. White House press secretary Robert Gibbs said Friday that Clinton's public co
Published 31 Oct, 2009 12:00am
US fines BP a record $87 million

US fines BP a record $87 million

The Occupational Safety and Health Administration on Friday issued a record $87 million fine against oil giant BP PLC for failing to correct safety hazards after a 2005 explosion killed 15 workers and injured 170 at its Texas City refinery. The fine - the
Published 31 Oct, 2009 12:00am
White House defends Clinton's remarks

White House defends Clinton's remarks

The White House is calling ``completely appropriate' Secretary of State Hillary Rodham Clinton's suggestion that Pakistani officials might know where top terrorists are hiding. White House press secretary Robert Gibbs said Friday that Clinton's public com
Published 31 Oct, 2009 12:00am
Asian bonds spreads rally

Asian bonds spreads rally

Asian credits rallied on Friday after the world's biggest economy pulled out of recession which encouraged risk takers to pour money into Asian bonds, currencies and stocks. The United States, the destination for a large portion of Asia's exports, economy
Published 31 Oct, 2009 12:00am
NRO to cause harm to parliament's image: Nisar

NRO to cause harm to parliament's image: Nisar

Terming the law and justice standing committee unconstitutional, the Leader of Opposition in the National Assembly, Chaudhry Nisar Ali Khan, has said that National Reconciliation Ordinance (NRO) would make a dent on the image of parliament. "The NRO is a
Published 31 Oct, 2009 12:00am
Asian bonds spreads rally

Asian bonds spreads rally

Asian credits rallied on Friday after the world's biggest economy pulled out of recession which encouraged risk takers to pour money into Asian bonds, currencies and stocks. The United States, the destination for a large portion of Asia's exports, economy
Published 31 Oct, 2009 12:00am
NRO to cause harm to parliament's image: Nisar

NRO to cause harm to parliament's image: Nisar

Terming the law and justice standing committee unconstitutional, the Leader of Opposition in the National Assembly, Chaudhry Nisar Ali Khan, has said that National Reconciliation Ordinance (NRO) would make a dent on the image of parliament. "The NRO is a
Published 31 Oct, 2009 12:00am
Indonesian shares up

Indonesian shares up

Indonesian shares closed 1.01 percent higher Friday thanks to gains in Wall Street and a stronger rupiah, dealers said. The Jakarta Composite Index rose 23.67 points to 2,367.70. Coal miner Indo Tambangraya Megah rose 9.1 percent to 22,750 rupiah, while r
Published 31 Oct, 2009 12:00am
NRO approved by National Assembly committee

NRO approved by National Assembly committee

Law and Justice Committee of the National Assembly Friday approved all but two clauses of the controversial National Reconciliation Ordinance (NRO) with a majority vote after two days' deliberations, which were marred by protests. The government was accus
Published 31 Oct, 2009 12:00am
Wall Street jumps

Wall Street jumps

US stocks logged their best one-day percentage gain in three months on Thursday as investors saw data showing the US economy returned to growth in the third quarter as brightening the outlook for profits. The government's first estimate of US gross domest
Published 31 Oct, 2009 12:00am
NRO approved by National Assembly committee

NRO approved by National Assembly committee

Law and Justice Committee of the National Assembly Friday approved all but two clauses of the controversial National Reconciliation Ordinance (NRO) with a majority vote after two days' deliberations, which were marred by protests. The government was accus
Published 31 Oct, 2009 12:00am
Seoul shares down

Seoul shares down

Seoul shares slipped on Friday, reversing from an opening gain of 1.2 percent despite a strong set of domestic economic data as investors grew more cautious about the fourth-quarter outlook. Autos and tech counters weighed. The Korea Composite Stock Price
Published 31 Oct, 2009 12:00am
Yasin Malik resigns as PSO chairman

Yasin Malik resigns as PSO chairman

Pakistan State Oil Board of Directors Chairman Sardar Yasin Malik has tendered his resignation from his post. According to sources this is the second head of a public sector entity under the administrative control of the Petroleum Ministry who was forced
Published 31 Oct, 2009 12:00am
Treasuries decline

Treasuries decline

US Treasury debt prices fell on Thursday, as data showed the US economy grew at a faster-than-expected pace in the third quarter, raising hopes of an emergence from the worst recession in 70 years. A rebound in US stocks also gnawed at the bid for low-ris
Published 31 Oct, 2009 12:00am
Yasin Malik resigns as PSO chairman

Yasin Malik resigns as PSO chairman

Pakistan State Oil Board of Directors Chairman Sardar Yasin Malik has tendered his resignation from his post. According to sources this is the second head of a public sector entity under the administrative control of the Petroleum Ministry who was forced
Published 31 Oct, 2009 12:00am
Treasuries decline

Treasuries decline

US Treasury debt prices fell on Thursday, as data showed the US economy grew at a faster-than-expected pace in the third quarter, raising hopes of an emergence from the worst recession in 70 years. A rebound in US stocks also gnawed at the bid for low-ris
Published 31 Oct, 2009 12:00am
Yasin Malik resigns as PSO chairman

Yasin Malik resigns as PSO chairman

Pakistan State Oil Board of Directors Chairman Sardar Yasin Malik has tendered his resignation from his post. According to sources this is the second head of a public sector entity under the administrative control of the Petroleum Ministry who was forced
Published 31 Oct, 2009 12:00am
Philippines shares surge

Philippines shares surge

Philippines share prices closed 1.61 percent higher on Friday, thanks to a rise in the US market following data showing the world's biggest economy had emerged from recession, dealers said. The composite index gained 46.17 points to 2,908.50 while the all
Published 31 Oct, 2009 12:00am
Procedure for IT audit under section 177 revised

Procedure for IT audit under section 177 revised

The federal government has harmonised the audit powers of the section 177 of the Income Tax Ordinance 2001 with the sales tax audit powers of the Sales Tax Act, 1990 through Finance (Amendment) Ordinance, 2009. Through promulgation of the Finance (Amendme
Published 31 Oct, 2009 12:00am
Taiwan stocks index drops

Taiwan stocks index drops

Taiwan stocks fell 0.21 percent to end at a fresh one-month low on Friday, as investors sold technology shares such as TSMC on concerns over weaker a outlook in the fourth quarter. The main TAIEX share index ended down 15.61 points to 7,340.08, wrapping u
Published 31 Oct, 2009 12:00am
Procedure for IT audit under section 177 revised

Procedure for IT audit under section 177 revised

The federal government has harmonised the audit powers of the section 177 of the Income Tax Ordinance 2001 with the sales tax audit powers of the Sales Tax Act, 1990 through Finance (Amendment) Ordinance, 2009. Through promulgation of the Finance (Amendme
Published 31 Oct, 2009 12:00am
New Zealand shares gain

New Zealand shares gain

New Zealand shares rose 0.63 percent Friday, in line with world markets after the US announced it had moved out of recession, dealers said. The benchmark NZX-50 index rose 20.00 points to close at 3,215.62 on turnover worth 239.3 million dollars (175.3 mi
Published 31 Oct, 2009 12:00am
Procedure for IT audit under section 177 revised

Procedure for IT audit under section 177 revised

The federal government has harmonised the audit powers of the section 177 of the Income Tax Ordinance 2001 with the sales tax audit powers of the Sales Tax Act, 1990 through Finance (Amendment) Ordinance, 2009. Through promulgation of the Finance (Amendme
Published 31 Oct, 2009 12:00am
Japanese investors eye earnings, Wall Street: analyst

Japanese investors eye earnings, Wall Street: analyst

Japanese investors are expected to take their cue next week from another raft of domestic earnings results as well as the performance of stocks on Wall Street, analysts said Friday. Some market watchers see room for shares to rebound if investors take an
Published 31 Oct, 2009 12:00am
Clinton faces anger at drone attacks

Clinton faces anger at drone attacks

Elders and the parliamentarians from the Federally Administered Tribal Areas (Fata) on Friday demanded of the United States to stop the drone attacks in tribal areas, saying that such attacks are creating hatred against the Americans among the peace-lovin
Published 31 Oct, 2009 12:00am
Nikkei average edges up

Nikkei average edges up

Japan's Nikkei average rose 1.5 percent on Friday, buoyed by shares of tech companies with improved earnings prospects such as Pioneer Corp, while exporters climbed on data showing the US economy had returned to growth. The close of the Nikkei and the bro
Published 31 Oct, 2009 12:00am
Clinton faces anger at drone attacks

Clinton faces anger at drone attacks

Elders and the parliamentarians from the Federally Administered Tribal Areas (Fata) on Friday demanded of the United States to stop the drone attacks in tribal areas, saying that such attacks are creating hatred against the Americans among the peace-lovin
Published 31 Oct, 2009 12:00am
Indian farmers demand higher cane price

Indian farmers demand higher cane price

Farmers in India's biggest cane producing state have threatened to stop selling their produce to mills unless they are paid a higher price, leaders of farmers' bodies said after a protest rally in Uttar Pradesh. Sugar industry officials said farmers had n
Published 31 Oct, 2009 12:00am
EU-Israel trade terms can't apply to occupied areas: EU advisor

EU-Israel trade terms can't apply to occupied areas: EU advisor

The top legal advisor to Europe's highest court on Friday said that preferential EU trade terms with Israel may not apply to goods and services emanating from the Palestinian territories. "In Advocate General (Yves) Bot's opinion, products originating fro
Published 31 Oct, 2009 12:00am
South Africa's jobless rate rises to 24.5 percent

South Africa's jobless rate rises to 24.5 percent

South Africa's unemployment rate rose to 24.5 percent in the third quarter, with manufacturing and retail jobs the worse hit, the government said on Thursday. The jobless rate rose from 23.6 percent in the second quarter, Statistics SA said. The manufactu
Published 31 Oct, 2009 12:00am
Swiss KOF jump points to accelerating recovery

Swiss KOF jump points to accelerating recovery

The Swiss economic recovery is set to gather pace in the coming months, an unexpectedly strong jump in the country's leading KOF growth barometer showed, as exports recover and consumer spending holds up. The Swiss franc initially rose on the buoyant lead
Published 31 Oct, 2009 12:00am
Investment banking props up Deutsche Bank's third quarter results

Investment banking props up Deutsche Bank's third quarter results

A breakdown of Deutsche Bank's third-quarter results underscored the German lender's reliance on the volatile investment banking sector as it more than doubled provisions for bad loans. Germany's flagship bank said on Thursday all divisions were profitabl
Published 31 Oct, 2009 12:00am
Investment banking props up Deutsche Bank's third quarter results

Investment banking props up Deutsche Bank's third quarter results

A breakdown of Deutsche Bank's third-quarter results underscored the German lender's reliance on the volatile investment banking sector as it more than doubled provisions for bad loans. Germany's flagship bank said on Thursday all divisions were profitabl
Published 31 Oct, 2009 12:00am
Huge growth potential in China: Nissan CEO

Huge growth potential in China: Nissan CEO

China's auto sector will continue booming even after government stimulus measures expire, Nissan Motor CEO Carlos Ghosn said Thursday, warning that his company will struggle to meet demand. "The potential of the Chinese market is huge," Ghosn told reporte
Published 31 Oct, 2009 12:00am
ECB director Weber warns banks to brace for end of stimulus measures

ECB director Weber warns banks to brace for end of stimulus measures

Eurozone banks should brace for the end of exceptional credit measures the European Central Bank put in place to help the economy survive the global slump, influential director Axel Weber said Thursday. "Given recent developments on financial markets and
Published 31 Oct, 2009 12:00am
Moody's cuts Portugal ratings outlook to negative

Moody's cuts Portugal ratings outlook to negative

Ratings agency Moody's on Thursday cut the outlook on Portugal's Aa2 debt ratings to negative from stable citing structural economic challenges, rising debt and the government's slow tackling of the problems. The cut follows a similar move by Fitch Rating
Published 31 Oct, 2009 12:00am
Austrian Airlines reports brutal exposure to crisis

Austrian Airlines reports brutal exposure to crisis

Austrian Airlines (AUA), owned by Lufthansa, reported a near four-fold rise in losses in the first nine months of the year on Thursday, saying the crisis was brutal in exposing its weaknesses. The airline, which has been bought by Lufthansa of Germany, fl
Published 31 Oct, 2009 12:00am
Brazil extends appliances tax breaks to stoke jobs

Brazil extends appliances tax breaks to stoke jobs

Brazil will extend tax breaks on home appliances for three months in a bid to boost consumption and consolidate a rebound in Latin America's largest economy, Finance Minister Guido Mantega said on Thursday. The tax breaks on refrigerators, washing machine
Published 31 Oct, 2009 12:00am
China's long-term loans to increase: central bank

China's long-term loans to increase: central bank

Longer-term lending will increase noticeably in China on demand from the property sector while short-term financing will fall, the central bank said in a report on Friday, showing that it intends to keep credit growth accommodative but more balanced in th
Published 31 Oct, 2009 12:00am
Japan to boost JGB market issuance

Japan to boost JGB market issuance

Japan will increase government bond issuance to the market this fiscal year by 2.1 trillion yen ($23.08 billion) to 132.3 trillion yen, the Ministry of Finance said on Friday, at a time when investors are bracing for further rises to debt issuance to cove
Published 31 Oct, 2009 12:00am
Japan to boost JGB market issuance

Japan to boost JGB market issuance

Japan will increase government bond issuance to the market this fiscal year by 2.1 trillion yen ($23.08 billion) to 132.3 trillion yen, the Ministry of Finance said on Friday, at a time when investors are bracing for further rises to debt issuance to cove
Published 31 Oct, 2009 12:00am
Yuan ends up

Yuan ends up

Spot yuan ended marginally firmer on Friday, largely brushing aside a 0.65 percent fall in the dollar as the Chinese central bank showed no intention of allowing the yuan to appreciate in the near term. Spot yuan closed at 6.8275 on Friday, rising slightl
Published 31 Oct, 2009 12:00am
Dollar drifts sideway versus euro

Dollar drifts sideway versus euro

The dollar drifted sideways against the euro on Friday as investors awaited more US data later in the day while the yen rose, helped by month-end demand from Japanese companies. Analysts said month-end dollar selling for yen had been weighing on the US cu
Published 31 Oct, 2009 12:00am
Dollar falls

Dollar falls

The dollar dropped on Thursday after government data showed the US economy expanded in the third quarter, its first quarterly growth in more than a year, eroding the ggreenback's safe-haven allure The US economy grew at a 3.5 percent annual rate in the Ju
Published 31 Oct, 2009 12:00am
Australian dollar regains ground

Australian dollar regains ground

The Australian dollar rebounded on Friday, recouping some of the sharp losses seen earlier this week and reclaiming ground above 91 US cents as profit booking by speculators seemed to run its course. By evening the Aussie was at $0.9161, up from $0.8989 l
Published 31 Oct, 2009 12:00am
Asian currencies: rupiah and won bounce back

Asian currencies: rupiah and won bounce back

The South Korean won and Indonesian rupiah bounced back sharply from multi-week lows as the dollar retreated broadly after better-than-expected US growth data revived appetite for risky assets. The dollar steadied after falling on data showing the world's
Published 31 Oct, 2009 12:00am
Swiss franc feels heat of rising risk appetite

Swiss franc feels heat of rising risk appetite

The Swiss franc is seen drifting further away from potential intervention territory against the euro on Friday after solid US gross domestic product data lent support to investor risk appetite. The franc traded in a fairly tight range in early Friday exch
Published 31 Oct, 2009 12:00am
Hong Kong dollar trapped in narrow range

Hong Kong dollar trapped in narrow range

The Hong Kong dollar held within a narrow range against the US dollar on Friday, while interbank rates were mostly steady and hovered at a similar level to the previous session. The local currency traded between 7.7501 and 7.7503, near the upper end of it
Published 31 Oct, 2009 12:00am
Women no longer 'warm-up' act at World Twenty20

Women no longer 'warm-up' act at World Twenty20

The showpiece men's matches at next year's ICC World Twenty20 in the West Indies will take place before, rather than after, the corresponding women's fixtures, organisers said Thursday. At this year's edition in England, the women's semis and final were p
Published 31 Oct, 2009 12:00am
Australia's Lee out of India series

Australia's Lee out of India series

Australia's pace spearhead Brett Lee was Friday ruled out of the remainder of the one-day series against India, dealing a fresh blow to the injury-ravaged tourists. Lee, 32, will fly home to undergo rehabilitation for an elbow injury that forced him to si
Published 31 Oct, 2009 12:00am
Confident Pakistan leaves to face New Zealand

Confident Pakistan leaves to face New Zealand

Pakistan's 16-man cricket squad left for Dubai early Friday with coach Intikhab Alam confident his team can beat New Zealand in the limited-over series. Pakistan will play three one-day internationals on November 3, 6, 9 in Abu Dhabi and two Twenty20 inte
Published 31 Oct, 2009 12:00am
Weeping Wozniacki puts Serena, Venus in shade

Weeping Wozniacki puts Serena, Venus in shade

Danish teenager Caroline Wozniacki wept and hobbled into WTA Championships folklore on Thursday, relegating Serena and Venus Williams to supporting roles. World number four Wozniacki burst into tears after overcoming Russia's Vera Zvonareva and crippling
Published 31 Oct, 2009 12:00am
Nine missing after California air collision

Nine missing after California air collision

Nine US military and Coast Guard personnel were missing Friday after a mid-air collision between a transport plane and helicopter over the Pacific Ocean, authorities said. As dawn broke early Friday, an extensive search was under way for survivors of the
Published 31 Oct, 2009 12:00am
Indian Prime Minister hosts 'great friend' Bush

Indian Prime Minister hosts 'great friend' Bush

India's premier hosted a lunch on Friday for former US President George W. Bush and called him a "great friend" who played a key role in ending the South Asian country's long nuclear isolation. Prime Minister Manmohan Singh, who enjoyed a strong rapport w
Published 31 Oct, 2009 12:00am
Slumdog child star in tussle with director Boyle over flat

Slumdog child star in tussle with director Boyle over flat

Oscar-winning Slumdog Millionaire director Danny Boyle is embroiled in a tussle with a child-star's family over an apartment in India's western city of Mumbai, a news report said Friday.Rafiq Qureishi, father of the child-star Rubina, met the film-maker w
Published 31 Oct, 2009 12:00am
US scientist pleads not guilty in Israel spy case

US scientist pleads not guilty in Israel spy case

A leading NASA scientist credited with helping discover water on the Moon pleaded not guilty Thursday to charges he tried to sell US defence secrets to Israel for two million dollars. Judge Deborah Robinson rejected a bail request from Stewart David Nozet
Published 31 Oct, 2009 12:00am
China and India could shame rich nations: top UN climate scientist

China and India could shame rich nations: top UN climate scientist

China and India could use their growing clout to shame developed countries into committing to a climate change deal in Copenhagen in December, the UN's top climate scientist said Friday. Rajendra Pachauri, chairman of the Nobel-winning Intergovernmental P
Published 31 Oct, 2009 12:00am
In rare move, Russian president condemns Stalin purges

In rare move, Russian president condemns Stalin purges

The mass killings under Joseph Stalin cannot be justified, President Dmitry Medvedev said Friday, in a rare condemnation by the Kremlin of the Soviet dictator still seen as a hero by many in Russia. Millions of people were killed in purges and forced coll
Published 31 Oct, 2009 12:00am
Colombia deal gives US access to military bases

Colombia deal gives US access to military bases

Colombia granted the United States access to seven military bases on Friday for anti-drug operations, signing a deal that has angered South American countries wary of any US deployment in the region. Colombian Foreign Minister Jaime Bermudez and the US am
Published 31 Oct, 2009 12:00am
Ukraine closes all schools, cinemas over swine flu

Ukraine closes all schools, cinemas over swine flu

Prime Minister Yulia Tymoshenko on Friday ordered a three-week closure of Ukraine's schools and cinemas in the toughest measures adopted yet to combat the swine flu virus in Europe. "From today, all the school establishments in Ukraine - be they private o
Published 31 Oct, 2009 12:00am
Al Qaeda sleeper agent sentenced to more than eight years

Al Qaeda sleeper agent sentenced to more than eight years

A US judge sentenced al Qaeda sleeper agent Ali al-Marri to more than eight years in prison on Thursday, rejecting pleas from prosecutors for a much longer jail term. Judge Michael Mihm expressed fears Marri could re-offend but said a "just sentence" must
Published 31 Oct, 2009 12:00am
Israel endorses draft Iran atom deal as 'first step'

Israel endorses draft Iran atom deal as 'first step'

Israel offered cautious praise on Friday for a UN-drafted, US-backed proposal for dealing with Iran's enriched uranium, calling it "a positive first step" toward denying Tehran the means to make nuclear weaponry. Prime Minister Benjamin Netanyahu raised t
Published 31 Oct, 2009 12:00am
Russia to boost Obama's Nobel with nuclear treaty: report

Russia to boost Obama's Nobel with nuclear treaty: report

Moscow and Washington want to reach a deal on a key nuclear disarmament treaty before US President Barack Obama receives his Nobel Peace Prize on December 10, a Kremlin source was quoted as saying Friday. The source, quoted in the Kommersant daily, said t
Published 31 Oct, 2009 12:00am
Turkey plans to dump dollar in trade with Iran

Turkey plans to dump dollar in trade with Iran

Turkey is seeking to switch to payments in national currencies for $10 billion worth of trade with neighbouring Iran to lessen exchange rate risks and bolster trade volumes, a Turkish government source said on Friday. Turkey has made similar proposals to
Published 31 Oct, 2009 12:00am
Honduran rivals agree a deal to end crisis

Honduran rivals agree a deal to end crisis

Honduras' de facto government has accepted a US-driven deal that opens the door for the return to power of President Manuel Zelaya, toppled in a mmilitary coup four months ago The breakthrough late on Thursday followed renewed pressure from senior US offi
Published 31 Oct, 2009 12:00am
Chirac to be tried on corruption charges

Chirac to be tried on corruption charges

Jacques Chirac will be the first former French president to be tried for corruption, officials said Friday, after charges from his years as mayor of Paris returned to taint the twilight of his long career. Chirac stands accused of giving political allies
Published 31 Oct, 2009 12:00am
Chinese Muslims head to Makkah amid swine flu fears

Chinese Muslims head to Makkah amid swine flu fears

More than 300 Chinese Muslims departed Friday on a pilgrimage to Makkah, state media reported, the first group to leave on the Hajj to Saudi Arabia this year amid concerns about the spread of swine flu. The 332 pilgrims left the north-western province of
Published 31 Oct, 2009 12:00am
Harvard University again world's best

Harvard University again world's best

Harvard University in the United States is once again the world's top institute of higher education for 2009, according to a Chinese ranking that is dominated by American colleges. Stanford University was second, followed by the University of California a
Published 31 Oct, 2009 12:00am
UN chief pleads for extra Afghan security

UN chief pleads for extra Afghan security

United Nations chief Ban Ki-moon pleaded on Thursday for the international community to protect UN staff in Afghanistan after Taliban fighters killed five and wounded nine. Addressing a crisis meeting of the UN Security Council a week before Afghanistan's
Published 31 Oct, 2009 12:00am
Germany to stop development aid to China, India

Germany to stop development aid to China, India

Germany is poised to stop millions of euros in development aid to China and India, its new development minister Dirk Niebel was quoted as saying on Friday. "Battling poverty is more important than ever for Germany. That means we should place our resources
Published 31 Oct, 2009 12:00am
Indian rupee rises

Indian rupee rises

The Indian rupee closed higher for a second straight day on Friday, erasing earlier losses triggered by a fall in local share prices, as exporters sold dollars expecting a further strengthening of the local unit. The partially convertible rupee ended at 4
Published 31 Oct, 2009 12:00am
Short-term rates mixed; Dollar Libor at record low

Short-term rates mixed; Dollar Libor at record low

Some rates on short-term money that banks lend each other edged up on Friday while dollar rates stayed at record lows, as traders looked ahead to central bank policy decisions and statements next week. The Federal Reserve, the European Central Bank, the B
Published 31 Oct, 2009 12:00am
Sterling rises

Sterling rises

Sterling rose against the euro on Friday on the back of perky UK consumer confidence and housing data, but fell by a bigger margin against the dollar as declines in global stocks boosted the US currency across the board. This meant sterling was firmly on
Published 31 Oct, 2009 12:00am
Dollar recovers in London

Dollar recovers in London

The dollar recovered on Friday from its declines the previous day on the back of solid US growth figures, while the Swiss franc fell sharply on market jitters of suspected intervention. Traders said the market was nervous about intervention by or on behal
Published 31 Oct, 2009 12:00am
Friday's early afternoon trade: Wall Street slides

Friday's early afternoon trade: Wall Street slides

US stocks slid on Friday as investors worried the economy's recovery might not be sustainable and financials sank as an influential bank analyst projected a $10 billion write-down for Citigroup. Investors unloaded shares across the board. Wall Street's fa
Published 31 Oct, 2009 12:00am
Malaysian shares up

Malaysian shares up

Malaysian shares closed up 0.12 percent Friday in line with gains on Wall Street and regional markets, dealers said. The Kuala Lumpur Composite Index gained 1.48 points to 1,243.23. Gainers outnumbered losers 450 to 211. "The market's bounce today after a
Published 31 Oct, 2009 12:00am
Indian shares down

Indian shares down

Indian shares fell 0.97 percent on Friday, the fifth straight day of losses, due to concerns over tightening monetary policy and weak corporate earnings, dealers said. The benchmark 30-share Sensex index fell 156.44 points to 15,896.28, a near two-month-l
Published 31 Oct, 2009 12:00am
Thai stocks drop

Thai stocks drop

The Thai stock market fell 0.70 percent Friday after late profit taking wiped out morning gains as investors stayed sceptical over economic recovery, analyst said. The Stock Exchange of Thailand (SET) composite index lost 4.86 points to close at 685.24 po
Published 31 Oct, 2009 12:00am
European bonds: CDS track equity, Commerzbank foresees decoupling

European bonds: CDS track equity, Commerzbank foresees decoupling

European credit default swap indexes tracked a share market slump on Friday as well as a rally on Thursday, but Commerzbank analysts forecast the two markets could decouple within the next three months. "Credit indices largely lost their role as leading i
Published 31 Oct, 2009 12:00am
European bonds: CDS track equity, Commerzbank foresees decoupling

European bonds: CDS track equity, Commerzbank foresees decoupling

European credit default swap indexes tracked a share market slump on Friday as well as a rally on Thursday, but Commerzbank analysts forecast the two markets could decouple within the next three months. "Credit indices largely lost their role as leading i
Published 31 Oct, 2009 12:00am
China's key index post 7.8 percent gain for October

China's key index post 7.8 percent gain for October

Shares in Hong Kong and Shanghai bounced on Friday as solid earnings from top Chinese lenders pushed banks up, while China's remark about sticking to its loose monetary policy lifted overall sentiment. The ChiNext market, China's long-awaited Nasdaq-style
Published 31 Oct, 2009 12:00am
Singapore shares rises

Singapore shares rises

Singapore shares closed 0.71 percent higher Friday, ending three days of losses, after Wall Street rebounded on news the US economy posted its strongest growth in two years, dealers said. The blue chip Straits Times Index advanced 18.82 points to 2,651.13
Published 31 Oct, 2009 12:00am
FTSE slides; posts first monthly fall since June

FTSE slides; posts first monthly fall since June

Britain's top share index fell sharply on Friday, ending the month in negative territory for the first time since June, led lower by commodity stocks and banks as confidence waned after mixed US data. The FTSE 100 closed down 93.17 points, or 1.8 percent,
Published 31 Oct, 2009 12:00am
New York cotton ends firm on booksquaring

New York cotton ends firm on booksquaring

Cotton futures settled higher on Friday on month-end booksquaring as the market defied weakness in other markets caused by a firm dollar, with analysts saying slack demand and the ongoing US harvest could lead to losses next week. The December cotton cont
Published 31 Oct, 2009 12:00am
Copper prices slip

Copper prices slip

Copper prices slipped on Friday on a firmer dollar and as falling equity markets stoked persistent demand worries that were heightened by a flurry of mixed economic data. Benchmark copper on the London Metal Exchange closed at $6,480 a tonne from a close
Published 31 Oct, 2009 12:00am
Oil falls over three percent

Oil falls over three percent

Oil prices fell more than 3 percent to $77 a barrel on Friday, pressured by bearish economic data that dented confidence about a potential recovery in energy demand. US crude for December delivery fell $2.87 to settle at $77 a barrel. In London, Brent cru
Published 31 Oct, 2009 12:00am
London coffee and cocoa dip; sugar rises

London coffee and cocoa dip; sugar rises

Robusta coffee ends off $20 at $1,386 a tonne in London on Friday, weighed by broad-based losses in commodity markets linked to a strengthening dollar. March cocoa in London ends 14 pounds lower at 2,168 pounds a tonne. End of the month profit-taking cont
Published 31 Oct, 2009 12:00am
US gold rises

US gold rises

New York gold futures rose toward $1,050 an ounce on Thursday, ending 1.6 percent higher as the dollar dropped against the euro and as Wall Street rallied after data showed that the US economy grew for the first time in more than a year. December gold set
Published 31 Oct, 2009 12:00am
Gold rises slightly towards $1,050 in Asia

Gold rises slightly towards $1,050 in Asia

Gold prices rose slightly toward $1,050 per ounce on Friday as the dollar remained pressured, buffing up bullion's allure as an alternative to the falling US currency. Gold is now down about 2 percent from record highs above $1,070 hit on October 14, but
Published 31 Oct, 2009 12:00am
Gold slips in Europe

Gold slips in Europe

Gold prices slipped below $1,040 per ounce in Europe on Friday as the dollar extended gains against a basket of currencies, helped by a retreat in risk appetite as US stocks slid after mixed economic data. Spot gold was bid at $1,037.60 an ounce at 1602 G
Published 31 Oct, 2009 12:00am
US MIDDAY: coffee, sugar and cocoa fall

US MIDDAY: coffee, sugar and cocoa fall

Summaries of the ICE Futures US cocoa, coffee and sugar markets early on Friday. December arabica coffee contract fell 1.70 cents to $1.3505 per lb at 11:06 am EDT (1506 GMT). Session range from $1.3465 to $1.3850. Moved lower on pressure from the strong
Published 31 Oct, 2009 12:00am
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