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Nov 09, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2009-12-23
Russia resumes Turkmen gas imports, slashes volumes

Russia resumes Turkmen gas imports, slashes volumes

Russia will resume Turkmen gas imports next year at less than half the volumes agreed in deals before a supply dispute between the ex-Soviet states prompted Ashgabat to develop new markets in China and Iran. Gazprom, Russia's state-run gas export monopoly
Published 23 Dec, 2009 12:00am
Iraq initials deal for Halfaya oilfield

Iraq initials deal for Halfaya oilfield

Iraq's Oil Ministry initialled a deal on Tuesday with China National Petroleum Company (CNPC), Total and Petronas for Halfaya, another of the deals it hopes will turn Iraq into a major global exporter. The Halfaya oilfield, in southern Iraq, has estimated
Published 23 Dec, 2009 12:00am
Dubai needs creativity to pay debt without taxes

Dubai needs creativity to pay debt without taxes

Dubai must raise funds to feed its mushrooming debt but the Gulf emirate dreads imposing taxes to avoid breaking a business model that helped turn it from a lazy fishing town to a regional trade and tourism hub. Selling some prized assets appears to be an
Published 23 Dec, 2009 12:00am
EU ministers vote to extend duties on Asian shoe

EU ministers vote to extend duties on Asian shoe

European Union ministers voted on Tuesday to extend import duties on shoes from China and Vietnam by 15 months, a move likely to anger China, major European retailers and consumer groups. "The shoes proposal was adopted," one of the officials involved in
Published 23 Dec, 2009 12:00am
Russia's richest man sets up oligarchs' bank

Russia's richest man sets up oligarchs' bank

Russia's richest man Mikhail Prokhorov will pool funds with three other oligarchs that will chase distressed banks and firms, creating an unusual joint war chest for some of Russia's most aggressive portfolio investors. Prokhorov's MFK bank said on Tuesda
Published 23 Dec, 2009 12:00am
UK drops probe into banks' overdraft charges

UK drops probe into banks' overdraft charges

Britain's consumer watchdog has dropped a two-and-a-half year probe into overdraft charges that could have cost banks billions of pounds, following a surprise court ruling in favour of the country's lenders last month. The Office of Fair Trading (OFT), ho
Published 23 Dec, 2009 12:00am
Exxon finalises Japan deal for PNG gas project

Exxon finalises Japan deal for PNG gas project

Energy giant Exxon Mobil Tuesday said it had finalised an agreement to supply Japan's Osaka Gas from its 15 billion US dollar liquefied natural gas project (LNG) in Papua New Guinea. United States-based Exxon said the contract was for the supply of about
Published 23 Dec, 2009 12:00am
Hot cocoa prices mean less chocolate in treats

Hot cocoa prices mean less chocolate in treats

Soaring cocoa prices, at 30-year peaks, could drive confectioners towards milk chocolate from healthier dark chocolate, and to downsize bars and use cheaper alternative ingredients. European cocoa traders and consultants said the almost doubling of cocoa
Published 23 Dec, 2009 12:00am
China to raise state pensions again

China to raise state pensions again

China decided on Tuesday to raise state pensions, marking the sixth straight year in which it has boosted payments to retirees as part of a broader drive to promote more domestic consumption. The State Council, or cabinet, will raise pensions next year by
Published 23 Dec, 2009 12:00am
Thai central bank raises prospect of no rate rise in 2010

Thai central bank raises prospect of no rate rise in 2010

Thailand's central bank governor held out the prospect on Tuesday that the record low interest rate of 1.25 percent could stay unchanged all through 2010 if inflation remained within the monetary authority's target range. The comments from Tarisa Watanaga
Published 23 Dec, 2009 12:00am
US mortgage industry grapples with new Disclosures

US mortgage industry grapples with new Disclosures

The biggest changes to home loan disclosures since the 1970s are around the corner and many in the industry are warning that misunderstandings will create a logjam of confusion just as housing tries to recover. A complete overhaul of the "good faith estim
Published 23 Dec, 2009 12:00am
Toyota, Volkswagen to end distributor contract in Japan

Toyota, Volkswagen to end distributor contract in Japan

Toyota Motor will stop distribution of Volkswagen vehicles in Japan, the two firms said Tuesday. Toyota will stop the contract at the end of 2010, as Volkswagen restructures its global sales strategy amid the global economic crisis, the two firms said in
Published 23 Dec, 2009 12:00am
'Misunderstandings' with China are bygones: French Prime Minister

'Misunderstandings' with China are bygones: French Prime Minister

French Prime Minister Francois Fillon told Chinese students Tuesday that any "misunderstandings" between Paris and Beijing were a thing of the past, following a heated row last year over Tibet. Fresh from sealing lucrative business deals during an officia
Published 23 Dec, 2009 12:00am
Actelion sees $80 million hit from ruling

Actelion sees $80 million hit from ruling

Actelion, Europe's largest biotech company, forecast an $80 million hit to 2009 operating profit after an arbitration panel ruled against a unit in a dispute with a Japanese drug firm. It is the second piece of bad news for Actelion this week, coming just
Published 23 Dec, 2009 12:00am
DFM to buy Nasdaq Dubai for $121 million

DFM to buy Nasdaq Dubai for $121 million

Dubai Financial Market said it has bid to buy Nasdaq Dubai in a deal worth $121 million to broaden the Gulf Arab bourse's asset class offering and boost revenues. The merger proposal, which had been expected for months, comes at a time when Dubai is strug
Published 23 Dec, 2009 12:00am
Seoul shares edge up

Seoul shares edge up

South Korean plant builders, led by Doosan Heavy Industries, jumped on Tuesday, pulling Seoul shares higher in quiet trade on expectations a Korean consortium was close to winning a $40 billion deal from the Middle East.
Published 23 Dec, 2009 12:00am
JGBs drop on US Treasuries

JGBs drop on US Treasuries

Japanese government bonds fell on Tuesday, hurt by falling US Treasuries and as a rise in Tokyo stocks to a three-month closing high dented investor demand for debt. The yield curve steepened as midterm JGB yields climbed less relative to those of longer-
Published 23 Dec, 2009 12:00am
JGBs drop on US Treasuries

JGBs drop on US Treasuries

Japanese government bonds fell on Tuesday, hurt by falling US Treasuries and as a rise in Tokyo stocks to a three-month closing high dented investor demand for debt. The yield curve steepened as midterm JGB yields climbed less relative to those of longer-
Published 23 Dec, 2009 12:00am
Taiwan stocks finish firmer

Taiwan stocks finish firmer

Taiwan stocks rose 0.88 percent to their highest close in 1-1/2 years on Tuesday, with UMC and other chip shares leading the way on growing optimism over technology demand in 2010. The main TAIEX share index rose 68.73 points to 7,856.00, the highest clos
Published 23 Dec, 2009 12:00am
Hong Kong shares surge

Hong Kong shares surge

Hong Kong shares added 0.69 percent on Tuesday on bargain buying following five consecutive falls, with sentiment buoyed by overnight gains on Wall Street, dealers said. The benchmark Hang Seng Index rose 143.94 points to 21,092.04. Turnover was 45.96 bil
Published 23 Dec, 2009 12:00am
US stocks up

US stocks up

US stocks rose on Monday, with the Nasdaq hitting a 15-month high after a healthcare reform bill advanced in the Senate and brokerages upgraded two Dow components on improving profit prospects. Healthcare stocks rose after a bill to overhaul the US health
Published 23 Dec, 2009 12:00am
Malaysian shares up

Malaysian shares up

Malaysian shares closed up 0.38 percent on Tuesday on bargain hunting and in line with stronger regional markets, dealers said. The Kuala Lumpur Composite Index (KLCI) gained 4.76 points to 1,260.42. Advancers outnumbered losers 327 to 235. "The index bre
Published 23 Dec, 2009 12:00am
US Treasury prices fall

US Treasury prices fall

US Treasury debt prices fell on Monday as stronger near-term economic growth outlooks drove investors to favour riskier assets like stocks over safe-haven securities like US government debt. "It is nervousness about growth and the potential for inflation
Published 23 Dec, 2009 12:00am
US Treasury prices fall

US Treasury prices fall

US Treasury debt prices fell on Monday as stronger near-term economic growth outlooks drove investors to favour riskier assets like stocks over safe-haven securities like US government debt. "It is nervousness about growth and the potential for inflation
Published 23 Dec, 2009 12:00am
Philippines shares decline

Philippines shares decline

Philippines share prices closed 0.14 percent lower on Tuesday as the market consolidated amid a lack of any major news, dealers said. The composite index fell 4.40 points to 3,016.16 points while the all-shares index fell 0.14 percent to 1,888.93 points.
Published 23 Dec, 2009 12:00am
Singapore shares climb

Singapore shares climb

Singapore shares closed 1.33 percent higher on Tuesday, boosted by fund managers buying stocks for year-end portfolio improvement, analysts said. The blue chip Straits Times Index gained 37.01 points to 2,823.82. Volume totalled 1.21 billion shares worth
Published 23 Dec, 2009 12:00am
Thai share higher

Thai share higher

The Thai stock market rose 1.29 percent on Tuesday boosted by gains in Wall Street and key regional markets, an analyst said. The Stock Exchange of Thailand (SET) composite index gained 9.23 points to close at 724.40, and the blue chip SET-50 index added
Published 23 Dec, 2009 12:00am
Nikkei hits three-month closing high

Nikkei hits three-month closing high

Japan's Nikkei average rose 1.9 percent to a three-month closing high on Tuesday as a weaker yen lifted exporters, while Isuzu Motors jumped on a report that the truck maker wants to develop new diesel engines for General Motors. Chip-related stocks got a
Published 23 Dec, 2009 12:00am
Chinese shares tumble

Chinese shares tumble

Chinese shares closed down 2.32 percent on Tuesday led by property developers on continued concerns over potential measures to rein in the real estate market, dealers said. The Shanghai Composite Index, which covers both A and B shares, was down 72.45 poi
Published 23 Dec, 2009 12:00am
Dollar and yuan dive on thin pre-Christmas trade

Dollar and yuan dive on thin pre-Christmas trade

Benchmark dollar/yuan non-deliverable forwards (NDFs) fell more than one percent in late trade on Tuesday, the biggest single-day loss in nearly one year as dealers said recent dollar short-covering eased in the forward market while the US currency stabil
Published 23 Dec, 2009 12:00am
Dollar pushes to two-month high

Dollar pushes to two-month high

The dollar rose further against the yen on Tuesday, hitting a two-month high and keeping pressure on the euro, as year-end unwinding of short positions supported it along with higher Treasury yields. Yields on US Treasury debt have climbed this week and e
Published 23 Dec, 2009 12:00am
US dollar jumps to six-week high

US dollar jumps to six-week high

The dollar hit a six-week high against the yen on Monday as traders bought back the greenback after selling it heavily for most of the year and braced for US economic growth to pick up steam in 2010. The euro dipped below $1.43, near a 3-1/2-month low, as
Published 23 Dec, 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. 69.15/69.20 (previous 69.15/69.20) Call Money Rates: 2.75-8.00 percent (previous 2.75-8.25 percent).
Published 23 Dec, 2009 12:00am
Hong Kong dollar remains weak

Hong Kong dollar remains weak

The Hong Kong dollar remained weak against a broadly firmer USD, despite a rebound in the stock market. The currency traded between 7.7552 and 7.7570, near Friday's low of 7.7585 in New York trade - its weakest since March 5. HK central bank said it was n
Published 23 Dec, 2009 12:00am
Australian dollar on skids

Australian dollar on skids

The Australian dollar hit fresh 11-week lows against a broadly firmer US dollar on Tuesday as US yields jumped to four-month highs, crimping the local currency's interest rate advantage. The Aussie slipped to $0.8787, from $0.8870 late here on Monday, hav
Published 23 Dec, 2009 12:00am
Peso falls, charts point to ringgit weakness

Peso falls, charts point to ringgit weakness

The Malaysian ringgit and Philippine peso fell on Tuesday, undermined by the dollar's broad strength amid expectations of a stronger growth outlook for the world's largest economy. The dollar hit a two-month high against the yen and kept up the pressure o
Published 23 Dec, 2009 12:00am
Swiss franc off nine-month peak

Swiss franc off nine-month peak

The Swiss franc was trading below nine-month peak against the euro in thin holiday conditions on Tuesday after an intervention scare a day earlier, but was expected to hold ground against the single currency. "The interest differential on the money market
Published 23 Dec, 2009 12:00am
Federer and Serena named ITF World Champs

Federer and Serena named ITF World Champs

Roger Federer has been named International Tennis Federation (ITF) champion for the fifth time with Serena Williams taking the women's award for the second time. They will receive their awards at the annual ITF World Champions Dinner on June 1 in Paris, d
Published 23 Dec, 2009 12:00am
Arrests down at English grounds

Arrests down at English grounds

The number of arrests at English soccer grounds dropped last season, according to Home Office figures released on Tuesday. In the 2008-09 season police made 3,752 arrests in or around stadiums, equivalent to one arrest per game, which was a two percent re
Published 23 Dec, 2009 12:00am
England coach unhappy with review system

England coach unhappy with review system

England coach Andy Flower on Tuesday expressed his unhappiness with the umpire's decision review system (UDRS) being trialled in the test series with South Africa. "I can't say that I am enjoying the review system that much but it is here to stay for the
Published 23 Dec, 2009 12:00am
After Ntini, South Africa seek next black pearl

After Ntini, South Africa seek next black pearl

South African cricket's celebration of Makhaya Ntini's 100th Test was tinged with concern about the shortage of obvious successors to take over as a black African standard bearer in the sport. Gerald Majola, chief executive of Cricket South Africa, said u
Published 23 Dec, 2009 12:00am
Messi named World Player of the Year

Messi named World Player of the Year

Barcelona and Argentina striker Lionel Messi was crowned World Player of the Year by world football's ruling body FIFA on Monday. Messi, whose goals this year helped Barcelona win the Champions League final and World Club Cup final, thus succeeds Real Mad
Published 23 Dec, 2009 12:00am
PFF Football Coaching Course from January 4

PFF Football Coaching Course from January 4

Islamabad will host PFF D-Certificate Football Coaching Course from 4th-9th January 2010 at Islamabad's Jinnah Stadium, said PFF Secretary General Ahmed Yar Khan Lodhi here on Tuesday. He said,On the directives of Pakistan Football Federation (PFF) Presid
Published 23 Dec, 2009 12:00am
Top flight Bulgarian players under tax scrutiny

Top flight Bulgarian players under tax scrutiny

A total of 261 Bulgarian top flight football players are under scrutiny for suspected tax evasion, the national revenue agency announced Tuesday. Most of the players, 97, come from Sofia, the agency added in a statement without disclosing their identity o
Published 23 Dec, 2009 12:00am
Mortaza to return as Bangladesh captain

Mortaza to return as Bangladesh captain

Pace bowler Mashrafe Mortaza will return as Bangladesh captain for a tri-series in January subject to a fitness test, the Bangladesh Cricket Board (BCB) said on Tuesday. Mortaza was first nominated as Bangladesh captain in July for a tour of West Indies b
Published 23 Dec, 2009 12:00am
Hamas offers amnesty to Gaza drug dealers

Hamas offers amnesty to Gaza drug dealers

The Hamas-run government in Gaza on Tuesday offered a temporary amnesty to drug dealers who turn themselves in and supply information about the illicit trade. "The interior ministry wants to give the opportunity to those wishing to repent from dealing dru
Published 23 Dec, 2009 12:00am
European Court rules Bosnia constitution unfair

European Court rules Bosnia constitution unfair

Europe's top human rights court ruled on Tuesday that the constitution of Bosnia, created as part of the country's post-civil war settlement, discriminated against citizens who were not Serb, Croat or Muslim. The ruling by the European Court of Human Righ
Published 23 Dec, 2009 12:00am
Former South Korea prime minister charged with graft

Former South Korea prime minister charged with graft

South Korean prosecutors Tuesday charged former Prime Minister Han Myeong-Sook with taking a 50,000 dollar bribe from a business executive while she was in office, officials said. The former liberal prime minister denies the allegations and says the probe
Published 23 Dec, 2009 12:00am
Former Bush adviser named Obama 'cyber czar'

Former Bush adviser named Obama 'cyber czar'

Nearly a year after taking office, US President Barack Obama named Howard Schmidt, a former Bush administration adviser and Microsoft executive, as his cybsersecurity co-ordinator on Tuesday. "Howard will have the important responsibility of orchestrating
Published 23 Dec, 2009 12:00am
Indian government under fire for Copenhagen accord

Indian government under fire for Copenhagen accord

Opposition parties in India Tuesday slammed the government over the Copenhagen climate accord, saying the document betrayed the developing world and did not protect India's national interests. India's Federal Environment Minister Jairam Ramesh, a key inte
Published 23 Dec, 2009 12:00am
International community has betrayed Gaza: aid groups

International community has betrayed Gaza: aid groups

The international community has betrayed the people of Gaza by failing to end an Israeli blockade to allow the territory to be rebuilt, a group of 16 rights groups said in a report on Tuesday. The report argued that Israel was in violation of internationa
Published 23 Dec, 2009 12:00am
Prince William spends night on London street

Prince William spends night on London street

A cold alley in central London is a far cry from a palace _ but it was the spot Prince William chose to sleep recently to highlight the plight of homeless British teenagers. He spent a chilly night near Blackfriars Bridge last week with Seyi Obakin, the c
Published 23 Dec, 2009 12:00am
Ethiopia sentences five to death over coup plot

Ethiopia sentences five to death over coup plot

An Ethiopian court sentenced five people to death on Tuesday and 33 others to life in prison for plotting to assassinate officiaals and topple the government Four of the five were sentenced in absentia while the fifth, opposition leader Melaku Tefera, was
Published 23 Dec, 2009 12:00am
British army accused of 'waterboarding' suspect in 1970s

British army accused of 'waterboarding' suspect in 1970s

Evidence is emerging that the British army used waterboarding during interrogations on prisoners in Northern Ireland during the Troubles, according to a report Tuesday. The technique was allegedly used during at least one interrogation of a prisoner who w
Published 23 Dec, 2009 12:00am
Colombia's Uribe orders rescue of kidnapped governor

Colombia's Uribe orders rescue of kidnapped governor

Colombian President Alvaro Uribe on Tuesday ordered troops to hunt down and rescue a state governor who authorities said was kidnapped by leftist FARC guerrillas in a brazen night-time assault on his home. The rebel kidnapping of a governor on Monday unde
Published 23 Dec, 2009 12:00am
Nepal Maoists set a month's deadline to return to power

Nepal Maoists set a month's deadline to return to power

Nepal's former Maoist rebels gave the government a month on Tuesday to pave the way for a unity government headed by them or face an indefinite countrywide shutdown in a conflict that threatens a fragile peace process. The Maoists, who waged a decade-long
Published 23 Dec, 2009 12:00am
Ash fall brings new fears near Philippine volcano

Ash fall brings new fears near Philippine volcano

The Philippines' most active volcano belched out choking ash Tuesday as authorities, fearing a major eruption, struggled to deal with thousands of evacuees crammed into shelters. The ash spread over a wide terrain by Mount Mayon, about 330 kilometres (200
Published 23 Dec, 2009 12:00am
Serbia officially submits EU membership application

Serbia officially submits EU membership application

Serbia on Tuesday officially submitted its European Union membership application to the Swedish EU presidency in Stockholm. Serb President Boris Tadic handed over the application to Swedish Prime Minister Fredrik Reinfeldt in a brief ceremony at the prime
Published 23 Dec, 2009 12:00am
December is 'a very real deadline' for Iran: White House

December is 'a very real deadline' for Iran: White House

December is "a very real deadline" for the international community ahead of possible new sanctions on Iran and its nuclear program, White House spokesman Robert Gibbs warned Tuesday. Earlier Tuesday Iran's president Mahmoud Ahmadinejad again rejected a ye
Published 23 Dec, 2009 12:00am
US health bill clears second Senate hurdle

US health bill clears second Senate hurdle

US Senate Democrats cleared the second of three 60-vote hurdles on President Barack Obama's healthcare overhaul on Tuesday, moving the landmark legislation one step closer to passage by Christmas. For the second consecutive day, Democrats mustered 60 part
Published 23 Dec, 2009 12:00am
73 Saudis killed in fight against Yemeni rebels

73 Saudis killed in fight against Yemeni rebels

Seventy-three Saudis have been killed and 26 are missing since fighting broke out in November between Saudi forces and Yemeni rebels, a Saudi minister told reporters on Tuesday. "The confrontation on the southern border" has resulted in "73 martyrs and 26
Published 23 Dec, 2009 12:00am
Iran nuclear trigger report a forgery: Ahmadinejad

Iran nuclear trigger report a forgery: Ahmadinejad

A leaked memo appearing to show Tehran's efforts to design an atomic bomb trigger was forged by the United States, Iran's President Mahmoud Ahmadinejad told a US news programme. Ahmadinejad was asked by ABC News about a report in London's Times newspaper
Published 23 Dec, 2009 12:00am
Relieved Eurostar passengers finally reach London

Relieved Eurostar passengers finally reach London

Relieved passengers stepped off the first Eurostar trains in nearly four days on Tuesday, but thousands more waiting to travel were angry at the prospect of having their Christmas holidays ruined. The first of the distinctive yellow, silver and blue train
Published 23 Dec, 2009 12:00am
Grounded European flights add to Christmas travel woes

Grounded European flights add to Christmas travel woes

Mass flight cancellations heaped fresh misery on European travellers Tuesday, as the freezing weather that has caused at least 90 deaths on the continent brought chaos to Christmas holiday plans. Passengers stranded by snow-blocked roads, delayed trains a
Published 23 Dec, 2009 12:00am
No deadline for Afghan troop withdrawal: Nato

No deadline for Afghan troop withdrawal: Nato

The head of Nato said on Tuesday there would be no deadline for the exit of allied troops from Afghanistan, as fears grow among Afghans that foreign forces will leave before their own troops are able to guarantee security. Nato Secretary-General Anders Fo
Published 23 Dec, 2009 12:00am
US repeating Soviet mistake: Russian envoy

US repeating Soviet mistake: Russian envoy

The United States is repeating the same mistakes the Soviet army made when it occupied Afghanistan, Russia's ambassador to Kabul said. "But maybe these mistakes are unavoidable," Ambassador Andrey Avetisyan told the German Press Agency dpa ahead of the 30
Published 23 Dec, 2009 12:00am
Brown appeals for Chinese clemency over death row Briton

Brown appeals for Chinese clemency over death row Briton

Prime Minister Gordon Brown has written to the Chinese government to express his "dismay" that a British citizen is due to be executed there and appealed for clemency, his office said Tuesday. Akmal Shaikh, a 53-year-old father-of-three whose supporters s
Published 23 Dec, 2009 12:00am
Israel won't pay 'any price' to free soldier

Israel won't pay 'any price' to free soldier

Israel said on Tuesday it was not prepared to agree to all of Hamas's demands in a German-mediated deal to exchange a captive Israeli soldier for hundreds of Palestinian prisoners. A Hamas official said a German mediator had arrived in the Gaza Strip to c
Published 23 Dec, 2009 12:00am
Guantanamo 'hell on Earth': former detainee

Guantanamo 'hell on Earth': former detainee

A Somali just home from eight years in the US jail at Guantanamo Bay told AFP the prison was "hell on Earth", and alleged torture there had scarred some of his fellow inmates. Mohamed Saleban Bare, who arrived in his hometown of Hargeisa on Saturday, said
Published 23 Dec, 2009 12:00am
Lithuania had secret CIA jails, investigation finds

Lithuania had secret CIA jails, investigation finds

The US Central Intelligence Agency (CIA) ran a secret prison in Lithuania where al Qaeda suspects may have been held, a parliamentary probe in the Baltic state found on Tuesday. The head of Lithuania's domestic intelligence agency has already resigned as
Published 23 Dec, 2009 12:00am
Iran says Iraq border incident a 'misunderstanding'

Iran says Iraq border incident a 'misunderstanding'

Iran on Tuesday described a border incident with Iraq, which caused oil prices to rise late last week, as a "misunderstanding" and called for experts from both countries to look into border demarcation issues. The statement came two days after Iraqi offic
Published 23 Dec, 2009 12:00am
Outcome 'not acceptable': South Africa

Outcome 'not acceptable': South Africa

South African negotiators said on Tuesday the outcome of the Copenhagen climate talks was disappointing and unacceptable, largely due to a flawed process that damaged trust among delegations. Buyelwa Sonjica, minister of environmental affairs, told report
Published 23 Dec, 2009 12:00am
Copenhagen accord was a 'disaster': Sweden

Copenhagen accord was a 'disaster': Sweden

Sweden described the Copenhagen climate change summit as a "disaster" and a "great failure" on Tuesday, ahead of a meeting of European Union environment ministers to discuss how to rescue the process. The European Union went to Copenhagen with the hope of
Published 23 Dec, 2009 12:00am
China says Britain sowing discord in climate politics

China says Britain sowing discord in climate politics

China condemned claims ascribed to Britain's climate change minister that it had "hijacked" negotiations in Copenhagen, saying on Tuesday the accusations were an attempt to sow discord among poor countries. The sharp words from Chinese Foreign Ministry sp
Published 23 Dec, 2009 12:00am
Sterling dips

Sterling dips

Sterling fell to a two-month low against the dollar on Tuesday, stung by data showing the economy contracted more than expected in the third quarter which stoked concerns that the UK is poised for an anaemic recovery. Britain's economy shrank by 0.2 perce
Published 23 Dec, 2009 12:00am
Dollar strengthens in London

Dollar strengthens in London

The dollar was well supported against the yen on Tuesday after hitting a two-month high earlier as US bond yields surged on expectations for US economic growth. The euro trimmed gains against the dollar after US ratings firm Moody's cut Greece's rating by
Published 23 Dec, 2009 12:00am
US Treasury-bill yields turn positive

US Treasury-bill yields turn positive

Yields on the fastest maturing US government debt rose above zero on Tuesday for the first time in three weeks as investors eased up on buying cash assets after meeting year-end targets. In Tuesday's auction, US one-month bills fetched a high rate of half
Published 23 Dec, 2009 12:00am
US Treasury-bill yields turn positive

US Treasury-bill yields turn positive

Yields on the fastest maturing US government debt rose above zero on Tuesday for the first time in three weeks as investors eased up on buying cash assets after meeting year-end targets. In Tuesday's auction, US one-month bills fetched a high rate of half
Published 23 Dec, 2009 12:00am
India rupee firms

India rupee firms

The Indian rupee firmed slightly on Tuesday, finding support as local shares snapped a three-day losing streak but then contained by demand for dollars from crude refiners. The partially convertible rupee ended at 46.80/81 per dollar, off an intraday low
Published 23 Dec, 2009 12:00am
Tuesday's midday trade: Wall Street rises

Tuesday's midday trade: Wall Street rises

US stocks rose on Tuesday, pushing the benchmark S&P 500 up briefly to a 14-month high, as data on existing home sales pointed to more stabilisation in housing, bolstering optimism about the economic recovery and prospects for profits.
Published 23 Dec, 2009 12:00am
Asian bond spreads narrow

Asian bond spreads narrow

Asian bond spreads tightened to their narrowest in 19 months tailing a tech-led rally in regional stocks, but rising US Treasury yields and a slew of new debt offerings in the new year are causing some concern. The Asia ex-Japan iTraxx investment-grade in
Published 23 Dec, 2009 12:00am
Asian bond spreads narrow

Asian bond spreads narrow

Asian bond spreads tightened to their narrowest in 19 months tailing a tech-led rally in regional stocks, but rising US Treasury yields and a slew of new debt offerings in the new year are causing some concern. The Asia ex-Japan iTraxx investment-grade in
Published 23 Dec, 2009 12:00am
European CDS tightens

European CDS tightens

European corporate credit default swap spreads were tighter on Friday, helped by a buoyant mood across equity markets. Sovereign risk was in the spotlight again after Moody's Investors Service cut its rating on Greece's debt to A2 from A1, a move which ha
Published 23 Dec, 2009 12:00am
European CDS tightens

European CDS tightens

European corporate credit default swap spreads were tighter on Friday, helped by a buoyant mood across equity markets. Sovereign risk was in the spotlight again after Moody's Investors Service cut its rating on Greece's debt to A2 from A1, a move which ha
Published 23 Dec, 2009 12:00am
Indian shares gain

Indian shares gain

Indian stocks rose 0.55 percent Tuesday, snapping three days of losses, as investors bought into metal and banking chips, dealers said. The 30-share benchmark Sensex ended the day 90.8 points up at 16,692. Regional markets rose on hopes of a US economic r
Published 23 Dec, 2009 12:00am
Britain's top share index gains

Britain's top share index gains

Britain's FTSE 100 share index gained 0.7 percent on Tuesday, boosted by heavyweight oils and pharmas as a fairly broad-based pre-Christmas rally moved into its second session. At the close the index was up 34.67 points at 5,328.66, but still over 50 poin
Published 23 Dec, 2009 12:00am
British soldier killed in second suspected friendly fire case

British soldier killed in second suspected friendly fire case

A British soldier has been shot and killed in southern Afghanistan, in what the Ministry of Defence said on Tuesday could have been the second death from friendly fire in as many days. The soldier died from wounds sustained during a firefight near a patro
Published 23 Dec, 2009 12:00am
French ruling party plans bill on burqa ban

French ruling party plans bill on burqa ban

France's ruling UMP party plans to present a bill to parliament in January on banning full Islamic veils in all public places and not just in certain buildings, a senior party official said on Tuesday. The bill would be accompanied by a resolution related
Published 23 Dec, 2009 12:00am
English priest says shoplifting okay at times

English priest says shoplifting okay at times

An English priest is giving some unconventional holiday advice - shoplifting may be OK. Rev. Tim Jones was rebuked by fellow clergy and shop owners Tuesday after delivering a Sunday sermon in which he said it was sometimes acceptable for desperate people
Published 23 Dec, 2009 12:00am
Israel gives response to Hamas prisoner swap offer

Israel gives response to Hamas prisoner swap offer

Israel said Tuesday that it would not bargain "at any cost" to secure the release of a soldier held by Hamas militants in the Gaza Strip, and relayed a list of Palestinian prisoners that it wants to deport as part of a proposed swap between two bitter foe
Published 23 Dec, 2009 12:00am
Kyrgyz opposition journalist dies after attack

Kyrgyz opposition journalist dies after attack

A prominent Kyrgyz opposition journalist died in hospital on Tuesday, nearly a week after he was thrown out of a tall building in Kazakhstan with his hands tied behind his back, police said. Gennady Pavlyuk had been in a coma since the attack on December
Published 23 Dec, 2009 12:00am
Gay marriage legalised in Mexico City

Gay marriage legalised in Mexico City

Mexico City lawmakers have approved allowing gay marriage, becoming the first in Latin America to do so. City legislators have passed the bill 39-20 with five lawmakers absent. Gay marriage is allowed in seven countries and some parts of the United States
Published 23 Dec, 2009 12:00am
Karzai says family murder under probe

Karzai says family murder under probe

Afghanistan's Interior Ministry is investigating the killing of an 18 year-old cousin of President Hamid Karzai, allegedly bloody revenge for the death of another relative 30 years earlier, the Afghan leader said on Tuesday. Waheed Karzai was shot in fron
Published 23 Dec, 2009 12:00am
Balloon boy couple face 42,000-dollar bill for hoax

Balloon boy couple face 42,000-dollar bill for hoax

The Colorado couple responsible for the "balloon boy" hoax which captivated audiences around the world are facing a 42,000-dollar bill for the stunt, their lawyer said Tuesday. Attorney David Lane said Richard Heene and his wife Mayumi had been ordered to
Published 23 Dec, 2009 12:00am
New York cotton futures lower

New York cotton futures lower

Cotton futures finished lower Tuesday on investor profit-taking although many players were out for the year-end holidays and brokers said dealings should stay thin this week and next. The cotton market will close early on Thursday, December 24, and be shu
Published 23 Dec, 2009 12:00am
Copper falls

Copper falls

Copper fell nearly one percent on Tuesday, weighed by growing stockpiles of the metal and a stronger dollar which was buoyed by US economic data. "The fundamentals of copper aren't that fantastic at the moment and I think we are seeing some recognition of
Published 23 Dec, 2009 12:00am
London sugar nears record high

London sugar nears record high

White sugar futures on Liffe rallied on Tuesday to close in on last week's record peak, with investors driven by prospects of South Asian and Indonesian demand. Arabica coffee futures fell further from last week's 16-month high while London cocoa edged hi
Published 23 Dec, 2009 12:00am
Oil rises above $74

Oil rises above $74

Oil prices rose slightly in thin pre-holiday trade on Tuesday, ahead of weekly inventory data which is expected to show a draw in US crude stocks. Crude stockpiles fell nearly 1 million barrels last week, as refiners drew down inventories, according to a
Published 23 Dec, 2009 12:00am
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