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Print - 2010-01-16
UK commercial property values rise most in 23 years

UK commercial property values rise most in 23 years

British commercial property values rose 3 percent in December, the largest monthly rise since records started 23 years ago, as the market's recovery accelerated after a two-year downturn, data showed on Friday.
Published 16 Jan, 2010 12:00am
Swiss banks lose billions in Italy tax amnesty

Swiss banks lose billions in Italy tax amnesty

An Italian tax amnesty will drain top Swiss wealth managers UBS, Credit Suisse and Julius Baer of as much as $18 billion in client withdrawals, hitting already weakened offshore banking and heralding more mergers, analysts believe.
Published 16 Jan, 2010 12:00am
China's foreign exchange reserves, bank loans jump in 2009

China's foreign exchange reserves, bank loans jump in 2009

China's foreign exchange reserves, the world's largest, grew 23 percent in 2009 and bank lending for the year blew past government targets, keeping pressure on policymakers to take more action to cool the economy.
Published 16 Jan, 2010 12:00am
Russia-Belarus row affects oil flows again

Russia-Belarus row affects oil flows again

An unresolved row over Russian oil supplies to Belarus escalated again with Moscow reducing flows to Belarussian refineries, traders said on Friday, in a move likely to revive fears of supply disruptions to Europe.
Published 16 Jan, 2010 12:00am
JPMorgan loan losses overshadow higher fourth quarter

JPMorgan loan losses overshadow higher fourth quarter

JPMorgan Chase & Co reported deep losses on mortgage and credit card loans in the fourth quarter, dashing hopes that consumer credit is on the mend and sending the bank's shares down 2.1 percent.
Published 16 Jan, 2010 12:00am
Venezuela shutters 619 retail stores

Venezuela shutters 619 retail stores

Venezuela has temporarily shuttered 619 retail stores for price gouging in the wake of the devaluation of the country's currency last week, official news agency ABN said Thursday. "Many of the store owners had hiked their prices up to 80 percent," said Pu
Published 16 Jan, 2010 12:00am
China sets index futures trading rules to limit risk

China sets index futures trading rules to limit risk

China's securities regulator is seeking to set a high bar on allowing ordinary investors to trade the country's new financial instruments such as stock index futures, it revealed on Friday.
Published 16 Jan, 2010 12:00am
JAL draws on emergency funds as bankruptcy looms

JAL draws on emergency funds as bankruptcy looms

Japan Airlines moved a step closer to bankruptcy on Friday by drawing down $1.6 billion in emergency funding and with the government setting Tuesday as the day to officially start a state-led restructuring.
Published 16 Jan, 2010 12:00am
UC RUSAL IPO fully subscribed by investors

UC RUSAL IPO fully subscribed by investors

The initial public offering of Russia's UC RUSAL was fully subscribed by institutional investors on the third day of its bookbuilding process, people familiar with the matter said on Thursday, in a positive indication of demand for Hong Kong's first-ever
Published 16 Jan, 2010 12:00am
Seoul shares gain led by techs, shipbuilders

Seoul shares gain led by techs, shipbuilders

Seoul shares rose on Friday led by techs including Samsung Electronics, which hit a fresh historical high, and shipbuilders such as Daewoo Shipbuilding. The Korea Composite Stock Price Index (KOSPI) finished up 0.95 percent at 1,701.80 points.
Published 16 Jan, 2010 12:00am
Wall Street struggles higher after weak retail report

Wall Street struggles higher after weak retail report

Wall Street looked past disappointing data on US retail sales and posted modest gains on Thursday as traders banked on positive news on corporate earnings. The Dow Jones Industrial Average rose 29.78 points (0.28 percent) to end at 10,710.55, reversing a
Published 16 Jan, 2010 12:00am
South Korean bonds fall

South Korean bonds fall

South Korean treasury bonds lost ground on Friday as a strong stock market and bond sale plans prompted debt investors to take profit on recent gains. A softer tone on rate policy from the Bank of Korea had a limited impact on the market as many investors
Published 16 Jan, 2010 12:00am
South Korean bonds fall

South Korean bonds fall

South Korean treasury bonds lost ground on Friday as a strong stock market and bond sale plans prompted debt investors to take profit on recent gains. A softer tone on rate policy from the Bank of Korea had a limited impact on the market as many investors
Published 16 Jan, 2010 12:00am
US Treasury prices gain

US Treasury prices gain

US Treasuries advanced on Thursday after the government reported weaker-than-forecast December US retail sales and a higher-than-expected number of new jobless claims in the latest week. "It looks like the economy is still relatively weak," said Gary Thay
Published 16 Jan, 2010 12:00am
US Treasury prices gain

US Treasury prices gain

US Treasuries advanced on Thursday after the government reported weaker-than-forecast December US retail sales and a higher-than-expected number of new jobless claims in the latest week. "It looks like the economy is still relatively weak," said Gary Thay
Published 16 Jan, 2010 12:00am
Taiwan stocks end at 19-month high

Taiwan stocks end at 19-month high

Taiwan stocks rose 0.81 percent on Friday to a 19-month closing high, led by Asustek Computer on Intel's stronger-than-expected quarterly earnings, which pointed to firm demand for PCs. The main TAIEX share index rose 66.91 points to 8,356.89, its highest
Published 16 Jan, 2010 12:00am
Chinese stocks recover, Hong Kong shares tumble

Chinese stocks recover, Hong Kong shares tumble

Chinese key stock index ended 0.3 percent higher on Friday, with property issues strong on earnings and bonus share plans and after improved foreign direct investment (FDI) data for December. The Shanghai Composite Index ended at 3,224.152 points, eking o
Published 16 Jan, 2010 12:00am
Nikkei closes at 15-month high, buoyed by techs

Nikkei closes at 15-month high, buoyed by techs

Japan's Nikkei average hit a 15-month high on Friday, boosted by tech shares such as Advantest Corp that climbed after Intel Corp reported a quarterly profit that beat expectations, underscoring hopes for a 2010 tech sector recovery.
Published 16 Jan, 2010 12:00am
Toronto stocks decline

Toronto stocks decline

Toronto's main stock index fell on Thursday, hurt by weakening oil prices and by gold producers that failed to find support even though gold prices turned higher. Miners Goldcorp and Barrick Gold were among some of the index's top overall decliners, unabl
Published 16 Jan, 2010 12:00am
Asian bond Philippine yields up on policy outlook

Asian bond Philippine yields up on policy outlook

Philippine peso bond yields inched up on Friday as investors pared exposure ahead of a debt auction next week and on expectations that the central bank may soon raise rates on some of its lending facilities.
Published 16 Jan, 2010 12:00am
Asian bond Philippine yields up on policy outlook

Asian bond Philippine yields up on policy outlook

Philippine peso bond yields inched up on Friday as investors pared exposure ahead of a debt auction next week and on expectations that the central bank may soon raise rates on some of its lending facilities.
Published 16 Jan, 2010 12:00am
Model Town Club defeat Apollo Club

Model Town Club defeat Apollo Club

Model Town Cricket Club gained full points when they defeated Apollo Club in Group-C match of Colonel Fateh Sher Khan Memorial Cricket Cup 2010 on Friday. Apollo Cricket Club piled up 194-9 in 40 over with Ansar 44, Salman Ali 25, Waqar Tariq 25. Man of t
Published 16 Jan, 2010 12:00am
Maradona to resume coaching duties

Maradona to resume coaching duties

Diego Maradona resumes his Argentina coaching duties this weekend after a two-month FIFA ban for insulting reporters by visiting his team's World Cup base in Pretoria. Maradona completed the suspension on Friday after being sanctioned for lewd comments he
Published 16 Jan, 2010 12:00am
Smith century puts South Africa on top

Smith century puts South Africa on top

Graeme Smith hit a pugnacious century as South Africa took control before heavy rain stopped play on the second day of the fourth and final Test against England at the Wanderers Stadium on Friday. Smith was out for 105 shortly before a thunderstorm floode
Published 16 Jan, 2010 12:00am
Elena crushes hobbling Serena

Elena crushes hobbling Serena

Russia's Elena Dementieva defeated a hobbling Serena Williams 6-3 6-2 at the Olympic tennis centre on Friday to win the Sydney International for the second year in a row. Dementieva completely outplayed the American world number one, who was troubled by a
Published 16 Jan, 2010 12:00am
India to host two Tests against South Africa

India to host two Tests against South Africa

South Africa will play two Tests and three one-day internationals on their tour of India next month, the Board of Control for Cricket in India said on Friday. The first test will be played in Nagpur from Feb. 6-10 and the second Test Kolkata from Feb. 14-
Published 16 Jan, 2010 12:00am
Preki and Dooley named to US Hall of Fame

Preki and Dooley named to US Hall of Fame

Two-time Major League Soccer Most Valuable Player Preki and Thomas Dooley were elected Thursday to the America's football Hall of Fame. Dooley and Preki were both on the 1998 US World Cup team, and the two started back-to-back MLS All-Star games in 1998-9
Published 16 Jan, 2010 12:00am
Sohail vows to make a strong come-back in IPL, Twenty20

Sohail vows to make a strong come-back in IPL, Twenty20

Pakistan's left-arm pacer Sohail Tanvir has vowed to get fit for the third season of the Indian Premier League (IPL) and the ICC World Twenty20 after missing his team's limited-overs series against Australia due to a knee injury.
Published 16 Jan, 2010 12:00am
Yousuf calls Salman selfish, lazy as Pakistan wilt in Australia

Yousuf calls Salman selfish, lazy as Pakistan wilt in Australia

Pakistan captain Mohammad Yousuf has branded team-mate Salman Butt "selfish" after being run out by the opener to leave tourists in a seemingly hopeless position at the end of day two of third and final cricket Test against Australia on Friday.
Published 16 Jan, 2010 12:00am
Bondarenko and Peer through to Hobart final

Bondarenko and Peer through to Hobart final

Ukraine's Alona Bondarenko upset top seed Anabel Medina Garrigues on Friday to join Israel's Shahar Peer in the final of the Hobart International. Bondarenko recovered after losing the first set to beat the Spaniard 4-6 6-3 6-4 and reach her first WTA fin
Published 16 Jan, 2010 12:00am
U-21 cricket team to take part in South Asian Games

U-21 cricket team to take part in South Asian Games

Pakistan Cricket Board (PCB) on Friday decided that Pakistan Under-21 Cricket Team will participate in the 11th South Asian Games scheduled in Bangladesh in February this year. The decision was taken after a meeting between Chairman PCB Ejaz Butt and Pres
Published 16 Jan, 2010 12:00am
Boxing team to participate in South Asian Games

Boxing team to participate in South Asian Games

Pakistan Boxing Team is proceeding to Bangladesh on January 26, to take part in the 11th South Asian Games commencing from January 29 at Dhaka. Pakistan Boxing Federation (PBF) has already announced 7-member team comprising Mohammad Waseem (51kg), Niamat
Published 16 Jan, 2010 12:00am
Bosch to close British factory with loss of 900 jobs

Bosch to close British factory with loss of 900 jobs

German engineering giant Bosch is set to close a British car parts factory with the loss of 900 jobs, said the company, blaming the economic downturn which has hit the automotive industry hard.
Published 16 Jan, 2010 12:00am
Bosch to close British factory with loss of 900 jobs

Bosch to close British factory with loss of 900 jobs

German engineering giant Bosch is set to close a British car parts factory with the loss of 900 jobs, said the company, blaming the economic downturn which has hit the automotive industry hard.
Published 16 Jan, 2010 12:00am
China's tax revenues up 9.1 percent

China's tax revenues up 9.1 percent

China's tax revenues grew 9.1 percent to 6.31 trillion yuan ($924.4 billion) in 2009, beating the budget target set at the beginning of last year, the State Administration of Taxation said on Friday. Beijing had budgeted for an 8 percent increase in tax r
Published 16 Jan, 2010 12:00am
Paris defends opposition to Renault plans

Paris defends opposition to Renault plans

France fired back at Brussels on Friday, saying it was right to ask Renault to scrap its plans to move its Clio car production to Turkey as the group agreed last year to save jobs in return for state aid. The EU competition watchdog is demanding an explan
Published 16 Jan, 2010 12:00am
Bangladesh to follow accommodative monetary policy

Bangladesh to follow accommodative monetary policy

Bangladesh should maintain an accommodative monetary policy to spur the economy, central bank governor Atiur Rahman told Reuters ahead of Tuesday's announcement of the bank's official policy bias. The monetary policy stance between January and June, which
Published 16 Jan, 2010 12:00am
France says Obama bank tax suitable for US

France says Obama bank tax suitable for US

US President Obama's plans to tax banking liabilities are appropriate for the United States while France's steps are suited for its domestic situation, French Economy Minister Christine Lagarde said on Friday.
Published 16 Jan, 2010 12:00am
EU could deepen CO2 cuts quickly, tackle cars

EU could deepen CO2 cuts quickly, tackle cars

The European Union's nominee for climate commissioner said the EU should move as quickly as possible to deepen its emissions cuts, possibly by tightening current curbs on cars and tackling those from lorries. Denmark's Connie Hedegaard said on Friday the
Published 16 Jan, 2010 12:00am
New car sales drop 1.6 percent in Europe in 2009

New car sales drop 1.6 percent in Europe in 2009

Cash-for-clunkers schemes succeeded only in limiting the drop in new car sales in Europe last year, with new registrations down 1.6 percent compared to 2008, the European carmakers body said on Friday.
Published 16 Jan, 2010 12:00am
Tata brings Nano minicar to Detroit

Tata brings Nano minicar to Detroit

India's Tata brought its Nano minicar to Detroit Thursday to show the Motor City what the world's cheapest car looks like. The Nano was unveiled for the first time in the United States at the Detroit science center, just a few miles away from where Tata's
Published 16 Jan, 2010 12:00am
Michelin to shut Japanese plant

Michelin to shut Japanese plant

French tyre maker Michelin announced Friday it would close its Japanese plant, which employs about 380 people, and move the production to other sites in Asia, Europe and North America. The company blamed the move on the global economic crisis and the high
Published 16 Jan, 2010 12:00am
Michelin to shut Japanese plant

Michelin to shut Japanese plant

French tyre maker Michelin announced Friday it would close its Japanese plant, which employs about 380 people, and move the production to other sites in Asia, Europe and North America. The company blamed the move on the global economic crisis and the high
Published 16 Jan, 2010 12:00am
TCS posts net profit up 34 percent

TCS posts net profit up 34 percent

India's largest software exporter Tata Consultancy Services (TCS) on Friday said consolidated net profit rose 34 percent in the third quarter, beating forecasts, as outsourcing orders improved. Net profit was 18.24 billion rupees (390 million dollars) for
Published 16 Jan, 2010 12:00am
TCS posts net profit up 34 percent

TCS posts net profit up 34 percent

India's largest software exporter Tata Consultancy Services (TCS) on Friday said consolidated net profit rose 34 percent in the third quarter, beating forecasts, as outsourcing orders improved. Net profit was 18.24 billion rupees (390 million dollars) for
Published 16 Jan, 2010 12:00am
Turkish 2009 budget gap triples, but below forecast

Turkish 2009 budget gap triples, but below forecast

Turkey's budget deficit surged to 52.2 billion lira ($36 billion) last year, much lower than a previous estimate but triple the 2008 shortfall, the finance ministry said on Friday. The gap was equivalent to 5.5 percent of gross domestic product, Finance M
Published 16 Jan, 2010 12:00am
Sea ice disrupts major Sinopec offshore oilfield

Sea ice disrupts major Sinopec offshore oilfield

Crude production at Shengli offshore oilfield, Sinopec Corp's largest, has been disrupted by thick ice floes in Bohai Bay off north China, industry officials and state media said on Friday. Shengli produced about 554,800 barrels per day in 2008.
Published 16 Jan, 2010 12:00am
Taiwan to let China QDIIs buy $500 million of stocks

Taiwan to let China QDIIs buy $500 million of stocks

Taiwan will let China's qualified domestic institutional investors (QDII) buy local stocks worth up to $500 million, the Financial Supervisory Commission said on Friday, falling short of market expectations.
Published 16 Jan, 2010 12:00am
IMF's Kahn to visit Tokyo, Hong Kong

IMF's Kahn to visit Tokyo, Hong Kong

International Monetary Fund chief Dominique Strauss-Kahn will travel to Tokyo and Hong Kong next week for talks with top officials and to address a forum on Asia's role in the global economy. Strauss-Kahn will meet with high-level Japanese government offi
Published 16 Jan, 2010 12:00am
Sterling gains on UK data, policymaker comment

Sterling gains on UK data, policymaker comment

Sterling hit its highest in nearly four weeks against the dollar on Wednesday, lifted by comments from a Bank of England policymaker which were seen as hawkish and helped by better-than-expected UK data.
Published 16 Jan, 2010 12:00am
Dollar mixed in Asia as investors eye data

Dollar mixed in Asia as investors eye data

The dollar was mixed in Asian trade on Friday as lacklustre US economic data cooled speculation that the Federal Reserve might raise interest rates sooner than previously expected, dealers said. At the same time the euro was also weighed down by uncertain
Published 16 Jan, 2010 12:00am
Dollar ticks higher after Trichet comments

Dollar ticks higher after Trichet comments

The dollar edged higher against the euro on Thursday after the head of the European Central Bank warned of risks to the eurozone's fragile economic recovery and mixed US economic data. The single European currency slipped to 1.4501 dollars, down from 1.45
Published 16 Jan, 2010 12:00am
Canadian dollar ends flat

Canadian dollar ends flat

The Canadian dollar was little changed against the US currency on Thursday morning as a broad based drop in the greenback after weaker-than-expected US economic data was offset by steady commodity prices.
Published 16 Jan, 2010 12:00am
Swiss franc follows euro down versus dollar

Swiss franc follows euro down versus dollar

The Swiss franc stayed close to ten month highs against the euro but tracked the single currency down against the dollar and yen on weak US economic data and market rumours German Chancellor Angela Merkel might resign.
Published 16 Jan, 2010 12:00am
Taiwan dollar falls

Taiwan dollar falls

The Taiwan dollar fell on Friday to a one-week closing low as the central bank bought US dollars after foreign fund inflows had pushed the Taiwan currency up amid a global appetite for high-risk currencies, dealers said.
Published 16 Jan, 2010 12:00am
Yuan ends flat; China FDI improves

Yuan ends flat; China FDI improves

The yuan ended flat against the dollar on Friday after the Chinese central bank set the local currency's mid-point only one-pip higher, brushing aside improved foreign direct investment (FDI) data for December. Yao Jian, commerce ministry spokesman, told
Published 16 Jan, 2010 12:00am
Iran arrests dissident cleric, warns against protest calls

Iran arrests dissident cleric, warns against protest calls

Iran has stepped up pressure on the opposition, arresting a dissident cleric and warning against using SMS and email messages to organise anti-government protests, reports said on Friday. Mid-ranking cleric Mohammad Taghi Khalaji, who was close to late di
Published 16 Jan, 2010 12:00am
China names new Tibet governor

China names new Tibet governor

China on Friday named as its new Tibet governor a military veteran who vowed to ensure stability in the Himalayan region, two years after massive unrest prompted a huge security crackdown. Padma Choling, 58, an ethnic Tibetan and a 17-year veteran of the
Published 16 Jan, 2010 12:00am
Upto 10,000 troops in Haiti by Monday: Mullen

Upto 10,000 troops in Haiti by Monday: Mullen

Up to 10,000 US troops will be in and around Haiti by Monday to help distribute aid and prevent potential rioting among desperate earthquake survivors, the top US military officer said Friday, as President Obama pledged long-term reconstruction help to Pr
Published 16 Jan, 2010 12:00am
Desperate Haitians await foreign disaster relief

Desperate Haitians await foreign disaster relief

Thousands of people injured in Haiti's massive earthquake spent a third night twisted in pain, lying on sidewalks and waiting for help as their despair turned to anger. "We've been out here waiting for three days and three nights but nothing has been done
Published 16 Jan, 2010 12:00am
Six militants killed in Yemen air strike

Six militants killed in Yemen air strike

Six al Qaeda militants were killed in an air strike in northern Yemen on Friday in a stepped-up campaign by the Yemeni government against the Islamist militant group. "Two cars carrying eight dangerous al Qaeda members were hit in an area between Saada an
Published 16 Jan, 2010 12:00am
Osama's photo digitally updated for age, beard

Osama's photo digitally updated for age, beard

The US State Department has updated its 1998 file photo of al Qaeda leader Osama bin Laden, digitally altering it to account for a decade of age and possible changes in his facial hair. There is a $25 million bounty on bin Laden's head for the Sept. 11, 2
Published 16 Jan, 2010 12:00am
Pandemic flu still active in parts of world: WHO

Pandemic flu still active in parts of world: WHO

The H1N1 flu virus is spreading most actively in North Africa, South Asia and parts of Europe, the World Health Organisation said on Friday. Raising its official global death toll from the pandemic to nearly 14,000, the WHO also said that while India's in
Published 16 Jan, 2010 12:00am
Hamas urges Egypt to halt Gaza border wall

Hamas urges Egypt to halt Gaza border wall

Hamas leader Khaled Meshaal called on Egypt on Friday to stop building an underground wall along its border with Gaza, which the Islamist group says would put further strain on the isolated enclave. Egypt is constructing an underground barrier to stem Pal
Published 16 Jan, 2010 12:00am
North Korea threatens to cut dialogue with South

North Korea threatens to cut dialogue with South

North Korea threatened Friday to break off all dialogue with South Korea unless Seoul apologises for an alleged contingency plan to handle regime collapse in the communist state. In a day of mixed signals, the North also announced it would accept food aid
Published 16 Jan, 2010 12:00am
Russia gives green light to European Court reform

Russia gives green light to European Court reform

Russian lawmakers voted Friday to ratify a key protocol on reforming the European Court of Human Rights, clearing the way for the long-delayed reform after years of resistance from Moscow.
Published 16 Jan, 2010 12:00am
Thai Airways charges former-boss

Thai Airways charges former-boss

Thai Airways has charged its former executive chairman 6,000 dollars for excess luggage that he failed to pay for on a flight in an incident which led to his resignation, the flag carrier said Friday.
Published 16 Jan, 2010 12:00am
Japan to halt refuelling mission in Indian Ocean

Japan to halt refuelling mission in Indian Ocean

Japanese Defence Minister Toshimi Kitazawa issued an order Friday to end Japan's refuelling mission in the Indian Ocean in support of US-led anti-terrorism operations in and around Afghanistan.
Published 16 Jan, 2010 12:00am
Crisis effects will last for years: World Bank

Crisis effects will last for years: World Bank

The world will likely continue to live with ripple effects from the financial crisis for years, World Bank President Robert Zoellick said on Friday. Speaking at a news conference in Berlin, Zoellick said the World Bank estimated that a further 64 million
Published 16 Jan, 2010 12:00am
Friday's early afternoon trade: US stocks fall on JPMorgan results

Friday's early afternoon trade: US stocks fall on JPMorgan results

US stocks slid on Friday after JPMorgan Chase & Co reported deep fourth-quarter loan losses that raised concerns about earnings for the banking industry. JPMorgan, the first major bank to report quarterly results, shed 2 percent to $43.78 while other bank
Published 16 Jan, 2010 12:00am
European corporate CDS indices widen

European corporate CDS indices widen

European corporate CDS indexes were wider on Friday, guided by weakness in sovereign issues on concern over Greece's financial woes. By 1110 GMT, the investment-grade Markit iTraxx Europe index was at 72.5 basis points, according to data from Markit, 2 ba
Published 16 Jan, 2010 12:00am
European corporate CDS indices widen

European corporate CDS indices widen

European corporate CDS indexes were wider on Friday, guided by weakness in sovereign issues on concern over Greece's financial woes. By 1110 GMT, the investment-grade Markit iTraxx Europe index was at 72.5 basis points, according to data from Markit, 2 ba
Published 16 Jan, 2010 12:00am
Indian shares extend rise

Indian shares extend rise

Indian shares eased 0.2 percent on Friday as investors locked in profits in stocks such as Reliance Industries and Infosys Technologies, but stretched weekly run of gains to four in a row. Activity is expected to be cautious ahead of the central bank's po
Published 16 Jan, 2010 12:00am
European shares rise in early trade

European shares rise in early trade

European shares rose in early trade on Friday, extending a winning run to three sessions, after results at US chipmaker Intel boosted hopes of a strong earnings season. At 0809 GMT, the FTSEurofirst 300 index of top European shares was up 0.3 percent at 1
Published 16 Jan, 2010 12:00am
UK's top share index falls

UK's top share index falls

Britain's top share index ended 0.8 percent lower on Friday, echoing falls on Wall Street after disappointing US data weighed on sentiment with miners and banks, spearheads of the recent recovery, the heaviest fallers.
Published 16 Jan, 2010 12:00am
Sterling rises versus euro

Sterling rises versus euro

Sterling gained against a broadly weaker euro on Friday, hitting a four-month high as concerns over Greece's debt situation weighed on the single currency. Gains in the pair also helped the pound edge up to a one-month high against the dollar, although it
Published 16 Jan, 2010 12:00am
Indian rupee at one-week low

Indian rupee at one-week low

The Indian rupee touched a one-week low on Friday weighed down by choppy domestic equities and the dollar's rise against the euro overseas. The partially convertible rupee ended at 45.78/79 per dollar, off the day's trough of 45.83, its weakest since Jan.
Published 16 Jan, 2010 12:00am
Euro falls broadly in London

Euro falls broadly in London

The euro fell broadly on Friday as concerns about the struggling Greek economy highlighted weakness in the eurozone and bolstered expectations interest rates in the region will stay low for months. The euro extended losses, hitting the day's low against t
Published 16 Jan, 2010 12:00am
Shanghai copper lower

Shanghai copper lower

Copper in Shanghai edged lower on Friday as a weaker technical outlook and concerns about inventories vied with optimism about Chinese demand and the prospect of tighter supplies in the future. Benchmark third-month Shanghai copper ended down 300 yuan at
Published 16 Jan, 2010 12:00am
Copper falters; nickel stocks hit record 161,994 tonnes

Copper falters; nickel stocks hit record 161,994 tonnes

Copper prices slipped on Friday, as inventories rose, the dollar firmed and investors started to fret about demand growth for industrial metals. Benchmark copper on the London Metal Exchange traded at $7,437 a tonne in official rings from $7,490 at the cl
Published 16 Jan, 2010 12:00am
IEA downgrades 2010 oil demand forecast

IEA downgrades 2010 oil demand forecast

The International Energy Agency on Friday revised down its forecast for world oil demand in 2010, saying trade would be "sluggish" in rich nations and growth would come only from emerging economies. The IEA forecast that demand would be 1.44 million barre
Published 16 Jan, 2010 12:00am
Oil slips below $79

Oil slips below $79

Oil prices slipped to below $79 per barrel on Friday as expectations for reduced heating demand in the United States, a stronger dollar and high oil inventories pressured prices.
Published 16 Jan, 2010 12:00am
Gold falls towards $1,130 in Europe, ETF boosts palladium

Gold falls towards $1,130 in Europe, ETF boosts palladium

Gold fell towards $1,130 per ounce on Friday as a rising dollar made the metal costlier for non-US investors, but palladium hit an 18-month high as traders continued to see strong investment demand. Currency markets were not moving in gold's favour as the
Published 16 Jan, 2010 12:00am
US MIDDAY: corn, wheat down; soya steadies

US MIDDAY: corn, wheat down; soya steadies

Chicago Board of Trade grains and soya complex late pre-opening calls at 9:20 a.m. CST (1520 GMT) on Friday. Wheat down 3 to 5 cents per bushel. Slow exports of US wheat, a firm dollar and abundant global stockpile of wheat combining to weigh on wheat fut
Published 16 Jan, 2010 12:00am
US MIDDAY: copper slips

US MIDDAY: copper slips

US copper futures were soft in early trade on Friday, continuing a phase of consolidation from this week's sharp swings as US industrial production data met expectations and provided no fresh direction for industrial commodities.
Published 16 Jan, 2010 12:00am
US MIDDAY: gold tumbles

US MIDDAY: gold tumbles

Gold fell to around $1,130 per ounce on Friday as a dollar rise dampened investor sentiment, but palladium hit a 18-month high on strong investment demand related to the US exchange traded funds.
Published 16 Jan, 2010 12:00am
PPP acknowledges US support for Boulton Market victims

PPP acknowledges US support for Boulton Market victims

Pakistan People's Party information secretary Fozia Wahab on Friday lauded the United States for one billion rupees pledge for revival of business activities in Boulton Market of Karachi.
Published 16 Jan, 2010 12:00am
CAMP holds lawyers' training on countering women trafficking

CAMP holds lawyers' training on countering women trafficking

Experts on Friday lamented the non-implementation of relevant laws, lack of social support, harmful traditional practices and lack of awareness among public as leading factors contributing towards growing menace of women trafficking in NWFP.
Published 16 Jan, 2010 12:00am
100 development projects still await funds for revival

100 development projects still await funds for revival

As many as 100 development projects still await the funds allocation for their revival those were discontinued or postponed during the year 2008-09 by the Planning Commission as part of rationalisation of PSDP throw-forward liability.
Published 16 Jan, 2010 12:00am
Asfandyar hails US assistance for Swat people

Asfandyar hails US assistance for Swat people

Awami National Party (ANP) Chief Asfandyar Wali Khan on Friday acknowledged Washington's financial support for people of war-affected Swat Valley and termed the initiative as a positive step to ensure rehabilitation of the victim families.
Published 16 Jan, 2010 12:00am
Tax embezzlement case: SHC admits bail plea of former banker

Tax embezzlement case: SHC admits bail plea of former banker

A former empl-oyee of National Bank of Pakistan (NBP) was admitted to pre-arrest bail in a corruption case pertaining to Sindh Development and Maintenance of Infrastructure Fee (SDMIF), a tax levied in 1994.
Published 16 Jan, 2010 12:00am
Increase in electricity rates

Increase in electricity rates

I want to share that, the Finance Minister Shaukat Tarin, in a press conference after his return from Dubai, where the scheduled quarterly review with the International Monetary Fund (IMF) staff took place, revealed that a 12 percent increase in power tar
Published 16 Jan, 2010 12:00am
What limits RBI's desire to raise policy rate?

What limits RBI's desire to raise policy rate?

Demand for bank loans in India is coming back to life but because loan growth is sluggish, the central bank will take time to tighten monetary policy in spite of a pick-up in inflation. As growth in Asia's third-largest economy gathers speed after the dow
Published 16 Jan, 2010 12:00am
Pursuit of justice in tax matters

Pursuit of justice in tax matters

In the Indian subcontinent income tax was introduced in 1860. It was then assessed by the panchayat and an assessee feeling aggrieved by the assessment could appeal to the Collector of the district, whose order was final.
Published 16 Jan, 2010 12:00am
The 'ifs' and 'buts' of capitalism

The 'ifs' and 'buts' of capitalism

Is Pakistan following any reasonable theory or practice? Earlier one had thought that the donors could do the needful and fill the gap by meeting the shortfalls. This is incorrect for the donors have their own agenda. The theories have a western bias and
Published 16 Jan, 2010 12:00am
Not to mistake Pakistan's forbearance for weakness

Not to mistake Pakistan's forbearance for weakness

It's not that General Deepak Kapoor is the first Indian army chief to threaten Pakistan; such threats do periodically emanate from New Delhi and receive appropriate ripostes.
Published 16 Jan, 2010 12:00am
US policies: recalcitrance is an attitude that is shown

US policies: recalcitrance is an attitude that is shown

Richard Holbrooke, Special United States Representative for Afghanistan and Pakistan, returned to this country after a considerable interval if one takes into account his earlier frequent visits to the region. His absence from the scene had given birth to
Published 16 Jan, 2010 12:00am
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