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Print - 2010-02-06
Announcement: buy precious gems at Rs two per kg!

Announcement: buy precious gems at Rs two per kg!

Books are considered our best companions. They lead us to a brighter future. But when these companions are treated brutally, it gives us pain and unhappiness. Recently, the news was unveiled that a donkey cart man was caught carrying textbooks, which he h
Published 06 Feb, 2010 12:00am
Chehlum of Hazrat Imam Hussain observed

Chehlum of Hazrat Imam Hussain observed

Chehlum of Hazrat Imam Hussain (RA) and his 72 companions was observed in Multan and across South Punjab with religious zeal and fervour. Processions gathered at Markazi Imambargah from adjacent areas including Khuni Burj, Chowk Shaheedan, Sootri-Wat, Har
Published 06 Feb, 2010 12:00am
Government sincerely working for masses' welfare: Kazmi

Government sincerely working for masses' welfare: Kazmi

Federal Minister for Religious Affairs Syed Hamid Saeed Kazmi said on Friday the PPP-led coalition government is sincerely working for the welfare of people and taking necessary steps to provide all civic amenities on priority basis. Talking to media here
Published 06 Feb, 2010 12:00am
Textile industry backbone of economy: Dr Saleem

Textile industry backbone of economy: Dr Saleem

Development Finance Support Unit of SBP Banking Services Corporation is conducting different cluster group studies including powerlooms industry keeping in view to increase financial outreach, said Chief Manger, State Bank of Pakistan, Dr Muhammad Saleem.
Published 06 Feb, 2010 12:00am
UN urged to implement its resolutions on Kashmir issue

UN urged to implement its resolutions on Kashmir issue

Lahore High Court Bar Association (LHCBA) has urged the United Nations (UN) to resolve the longstanding issue of Kashmir between India and Pakistan in accordance with its resolutions and the aspirations of the Kashmiri people.
Published 06 Feb, 2010 12:00am
Playing cards in capital: a good pastime

Playing cards in capital: a good pastime

Tense and arranging cards carefully, he is eagerly awaiting the forth king of cards. His opponent is doing the best to deny the desired card to him. Here he picks the desired card- Hurrah! It is the card that Chacha Naeem is looking for. He leaps in the a
Published 06 Feb, 2010 12:00am
SSWA condoles death of G H Bhatti

SSWA condoles death of G H Bhatti

Sarhad Sports Writers Association (SSWA) on Friday held condolence meeting over the sad demise of senior sports journalist Gul Hameed Bhatti here at conference room of the Qayyum Sports Complex. President Sarhad Sports Writers Association Azmatullah chair
Published 06 Feb, 2010 12:00am
US MIDDAY: gold hits three-month low

US MIDDAY: gold hits three-month low

US gold futures hit a three-month low early on Friday, briefly trading under $1,050 an ounce, as a dollar rally driven by risk aversion and fiscal fears in some eurozone countries dampened sentiment. April gold down $5.70 at $1,057.30 an ounce at 11:03 am
Published 06 Feb, 2010 12:00am
Listening movies: Mobilink launches new service

Listening movies: Mobilink launches new service

Mobilink Pakistan has launched a new and innovative service allowing users to listen to select movies on their cell phones. Jazz Audio Cinema, launched under the umbrella of Mobilink Jazz, Pakistan's favourite prepaid cellular brand, is the first of its k
Published 06 Feb, 2010 12:00am
US MIDDAY: copper trims losses

US MIDDAY: copper trims losses

US copper futures trimmed losses early on Friday, recovering from earlier 3-1/2-month lows, after labour market data showed the unemployment rate slide in January, even as payrolls fell. Benchmark copper for March delivery was trading down 1.30 cents at $
Published 06 Feb, 2010 12:00am
US MIDDAY: soya up

US MIDDAY: soya up

Soyabean and soyameal futures on the Chicago Board of Trade were higher early on Friday in a technical bounce after both markets market fell to four-month lows on Thursday, traders said. As of 10:09 am CST (1609 GMT), March soyabeans were up 7 cents at $9
Published 06 Feb, 2010 12:00am
US MIDDAY: corn falls

US MIDDAY: corn falls

Corn futures on the Chicago Board of Trade fell to a fresh four-month low at midsession on Friday, pressured by a sell-off in US crude oil futures, traders said. As of 10:52 am CST (1652 GMT), March corn was down 4 cents at $3.50 per bushel after falling
Published 06 Feb, 2010 12:00am
Gold slips in Europe

Gold slips in Europe

Gold slid to three-month lows on Friday as the dollar rose versus the euro amid fears over the eurozone economy, surrendering earlier small gains it made after payrolls data briefly pressured the US currency. Spot gold fell to a low of $1,043.75 and was b
Published 06 Feb, 2010 12:00am
US MIDDAY: coffee, sugar and cocoa lower

US MIDDAY: coffee, sugar and cocoa lower

Summaries of the ICE Futures US cocoa, coffee and sugar markets early on Friday. March arabica coffee contract fell 0.35 cent to $1.3120 per lb at 11:06 am EST (1606 GMT). Session range from $1.3050 to $1.3185. Arabica coffee moved lower in narrow but cho
Published 06 Feb, 2010 12:00am
Oil down four percent

Oil down four percent

Oil slid 4 percent to below $71 per barrel on Friday as a stronger dollar and data showing additional US job cuts as investors fled from risky assets like commodities. It was the second straight session of steep declines, as oil prices on Thursday posted
Published 06 Feb, 2010 12:00am
Liffe sugar, cocoa swept lower

Liffe sugar, cocoa swept lower

March white sugar ended off $18.30 at $724.50 a tonne on Friday after hitting $712.90, the lowest level for the benchmark front month in nearly one month. Sugar weighed by broad-based losses in oil and other commodity markets. May cocoa on Liffe ended 41
Published 06 Feb, 2010 12:00am
Copper stays lower

Copper stays lower

Copper fell to its lowest in more than 3 months on Friday as a stronger dollar and worries over the health of the global economy outweighed mixed US jobs data. Benchmark copper ended at $6,265 a tonne from $6,390 at the close on Thursday. Earlier, the met
Published 06 Feb, 2010 12:00am
US sugar falls

US sugar falls

Raw sugar futures finished at a three-week low Thursday on investor liquidation, a resurgent dollar and switch business, but analysts were not certain the rally was over or could reignite again. March raw sugar contract dropped 0.94 cent, or by 3.29 perce
Published 06 Feb, 2010 12:00am
New York cotton at 12-week low

New York cotton at 12-week low

Cotton futures reeled from investment liquidation to end Friday at a 12-week low caused by falling outside market and the poor tone of fibre contract may lead to further losses next week, analysts said. The key March cotton contract fell 2.37 cents to con
Published 06 Feb, 2010 12:00am
US fines British company for exporting Boeing 747s to Iran

US fines British company for exporting Boeing 747s to Iran

A British aviation company has agreed to pay 15 million dollars in fines as part of a plea agreement to settle charges it illegally exported Boeing 747 aircraft to Iran, the US Justice Department said Friday. Balli Aviation Ltd pled guilty to the charges
Published 06 Feb, 2010 12:00am
UN framework central to climate change talks: Manmohan

UN framework central to climate change talks: Manmohan

The United Nations Framework Convention on Climate Change (UNFCCC) must remain central to global co-operation on climate issues, Indian Prime Minister Manmohan Singh said Friday. Singh, delivering the inaugural address at the annual Delhi Sustainable Deve
Published 06 Feb, 2010 12:00am
J.P Morgan's chief reaps $16 million bonus

J.P Morgan's chief reaps $16 million bonus

Jamie Dimon, chief executive and chairman of Wall Street investment giant J.P. Morgan Chase, reaped a 2009 bonus of about 16 million dollars in shares and options on shares, a bank spokesman said Friday. "All of his bonus is in deferred equity, there is n
Published 06 Feb, 2010 12:00am
Ukraine presidential race ends, tension high

Ukraine presidential race ends, tension high

Ukraine's Yulia Tymoshenko and Viktor Yanukovich head into a final clash for the presidency on Sunday, but the prospect of post-election unrest threatens any quick return to stability, analysts say. Many commentators now predict a narrow victory by Yanuko
Published 06 Feb, 2010 12:00am
Dubai to seek Israel Prime Minister arrest if Mossad behind Hamas death

Dubai to seek Israel Prime Minister arrest if Mossad behind Hamas death

Dubai will issue an arrest warrant for Prime Minister Benjamin Netanyahu if Israel is found to be implicated in the murder of a top militant Palestinian in the emirate, The National newspaper reported on Friday. Dubai police chief Dhahi Khalfan has said t
Published 06 Feb, 2010 12:00am
UA Army curtails plan to cut spending for world bases

UA Army curtails plan to cut spending for world bases

The US Army is curtailing a plan to cut spending on its bases around the world that had raised concerns about services for military families. Secretary of the Army John M. McHugh announced the step Friday in a statement. He said the Army will add $500 mil
Published 06 Feb, 2010 12:00am
Supermarkets 'ransacked' as snow storm smacks Washington

Supermarkets 'ransacked' as snow storm smacks Washington

As the second big snowstorm of the winter began dropping flakes on the US capital Friday, panicked parents grabbed their kids early from school and headed home to brace for what locals are calling "Snowpocalypse." Many stopped off at supermarkets to stock
Published 06 Feb, 2010 12:00am
New Dubai oilfield could start production in 2011

New Dubai oilfield could start production in 2011

Dubai's newly discovered oilfield could begin production next year, the debt-laden Gulf city-state said on Friday. The oilfield is expected to help boost Dubai's electric output to 10,000 megawatts in 2012, from the current 7,500 megawatts, according to a
Published 06 Feb, 2010 12:00am
Obama pays tribute to CIA agents killed in Afghanistan

Obama pays tribute to CIA agents killed in Afghanistan

President Barack Obama travelled to the CIA headquarters Friday to pay tribute to seven agents killed in a suicide attack in Afghanistan, Central Intelligence Agency officials said. The president arrived at the Langley, Virginia headquarters of the agency
Published 06 Feb, 2010 12:00am
Ivory Coast probe finds voters' list 'fraudulent'

Ivory Coast probe finds voters' list 'fraudulent'

Investigators have found evidence of "fraud" in a voters' list being compiled for Ivory Coast's long delayed polls, a judicial source said Friday, as the opposition called for the election to be held in a month. The election has already been delayed six t
Published 06 Feb, 2010 12:00am
US threatens to bypass EU on terror fight amid data row

US threatens to bypass EU on terror fight amid data row

The United States has warned that it may stop working with EU institutions on terrorist data exchange if the European parliament next week blocks a bilateral deal on the issue. "If the European parliament overturns the agreement," which allows Washington
Published 06 Feb, 2010 12:00am
Yuan volatilities at two-year low

Yuan volatilities at two-year low

Benchmark offshore dollar/yuan one-year volatilities fell to their lowest in more than two years as the US dollar index climbing to more than seven-month highs decreased yuan appreciation pressures for now. One-year volatilities hit an intraday low of 3.7
Published 06 Feb, 2010 12:00am
Indian rupee falls to 2010 low

Indian rupee falls to 2010 low

The Indian rupee dropped to its lowest in 2010 on Friday as rising risk aversion among global investors on concerns about the debt of some European countries saw them pull funds from stocks and emerging markets. The partially convertible rupee ended at 46
Published 06 Feb, 2010 12:00am
Dollar rallies versus currencies basket in London

Dollar rallies versus currencies basket in London

The dollar hit a seven-month high against a currency basket on Friday, boosted by risk aversion as the cost of insuring the debt of some eurozone nations against default hit record highs on worries over their fiscal positions.
Published 06 Feb, 2010 12:00am
Sterling falls to 8-1/2 month low

Sterling falls to 8-1/2 month low

Sterling fell to an eight-and-a-half month low against the dollar on Friday as concerns over eurozone sovereign debt problems boosted the appeal of the greenback as a safe-haven currency. Worries about debt problems in the eurozone have extended beyond Gr
Published 06 Feb, 2010 12:00am
Swiss franc drops from high

Swiss franc drops from high

The Swiss franc dropped from a 15 month high versus the euro on Friday, with traders in Asia saying the Swiss National Bank had stepped in and bought euros to push the Swiss unit lower. The euro has been under pressure in the past month on concerns about
Published 06 Feb, 2010 12:00am
US rates ease on sovereign debt concerns

US rates ease on sovereign debt concerns

Short-term US interest rates eased and US rate-sensitive Euribor futures rallied, driving their implied rates sharply lower on Friday while the benchmark interbank lending rate for euros was set at a record low.
Published 06 Feb, 2010 12:00am
Aussie dollar panned on sovereign risk woes

Aussie dollar panned on sovereign risk woes

The Aussie dollar fell to multi-month lows on Friday as investors fretted about sovereign debt problems in Europe amid concerns strained budgets could force fiscal retrenchment in many developed nations. The Aussie hit a 4-month low at $0.8639, shedding t
Published 06 Feb, 2010 12:00am
US rates ease on sovereign debt concerns

US rates ease on sovereign debt concerns

Short-term US interest rates eased and US rate-sensitive Euribor futures rallied, driving their implied rates sharply lower on Friday while the benchmark interbank lending rate for euros was set at a record low.
Published 06 Feb, 2010 12:00am
FTSE falls on recovery jitters

FTSE falls on recovery jitters

Britain's top share index fell 1.5 percent on Friday on fears over the health of the global recovery as US employment data failed to impress, while ICAP tumbled following a warning on profits. ICAP, the world's biggest interdealer broker, topped the blue
Published 06 Feb, 2010 12:00am
Indian shares fall 2.7 percent

Indian shares fall 2.7 percent

Indian shares fell 2.7 percent on Friday to their lowest close in three months, as global selloff over Europe's sovereign debt problems and US jobs worries raised fresh concerns over world recovery and dented sentiment.
Published 06 Feb, 2010 12:00am
European CDS index widest in four months

European CDS index widest in four months

European corporate credit default swap spreads were wider on Friday, with the Markit Europe iTraxx CDS index at its widest since October last year. Weak equity markets, nervousness over sovereign risk and a more bearish view of the economic outlook have a
Published 06 Feb, 2010 12:00am
Friday's afternoon trade: Wall Street remains down

Friday's afternoon trade: Wall Street remains down

US stocks fell on Friday, failing to recover from the previous day's brutal selloff, after US jobs data pointed to a slow recovery and investors worried about the health of the eurozone's weakest economies. "Continued worries about the credit situations i
Published 06 Feb, 2010 12:00am
European CDS index widest in four months

European CDS index widest in four months

European corporate credit default swap spreads were wider on Friday, with the Markit Europe iTraxx CDS index at its widest since October last year. Weak equity markets, nervousness over sovereign risk and a more bearish view of the economic outlook have a
Published 06 Feb, 2010 12:00am
After US deal, Taiwan to buy helicopters from Europe

After US deal, Taiwan to buy helicopters from Europe

Taiwan said on Friday it would buy up to 20 military helicopters from a European manufacturer less than a week after Washington infuriated China by proposing a $6.4 billion arms deal for the island which Beijing claims as its own. The Taiwan deal with Eur
Published 06 Feb, 2010 12:00am
US, wary of China, mulls satellite substitutes

US, wary of China, mulls satellite substitutes

The Pentagon is mulling ways to curb its reliance on its eyes and ears in space, concerned about a perceived threat to its satellites from China, a top Air Force official said Thursday. Gary Payton, deputy under secretary for space programs, voiced concer
Published 06 Feb, 2010 12:00am
Danish navy storms ship, frees 25 from Somali pirates

Danish navy storms ship, frees 25 from Somali pirates

Danish special forces have stormed a ship captured by Somali pirates and freed 25 crew members with no casualties, a European Union naval spokesman and the Danish navy said Friday. The Antigua and Barbuda-flagged Ariella sent a distress call in the early
Published 06 Feb, 2010 12:00am
UN wildlife agency backs ban on bluefin tuna trade

UN wildlife agency backs ban on bluefin tuna trade

The UN's wildlife trade agency on Friday said it backed a proposed ban on the international trade in bluefin tuna, a prized delicacy in Asia, which is due to be examined by 175 countries next month. "We are recommending that the parties approve the propos
Published 06 Feb, 2010 12:00am
Chinese envoy to visit North Korea; US activist to go free

Chinese envoy to visit North Korea; US activist to go free

A senior Chinese Communist Party official will visit North Korea as early as Saturday, in what appears to be a move to press Pyongyang to return to nuclear disarmament talks, a South Korean news agency said on Friday. The North said separately it was rele
Published 06 Feb, 2010 12:00am
Croatian army sends troops on vacation

Croatian army sends troops on vacation

The Croatian army, suffering under national budget constraints, has sent almost a half of its troops on a prolonged holiday, Zagreb media reported Friday. "All brigades without operational tasks will be on vacation" until springtime, general Slavko Baric,
Published 06 Feb, 2010 12:00am
Rome airport's night-time security flawed

Rome airport's night-time security flawed

The international terminal at Rome's main airport has no effective security for two hours every night, a report in an Italian weekly said on Friday. L'Espresso said that between 1:00 am and 3:00 am (0000 and 0200 GMT) every day, standard security measures
Published 06 Feb, 2010 12:00am
Blast in Afghanistan kills three

Blast in Afghanistan kills three

A motorcycle bomb struck a crowd watching a dog fight Friday in southern Afghanistan, killing at least three people and wounding more than two dozen others. The blast on the outskirts of Lashkar Gah, capital of Helmand province, came as US Marines and the
Published 06 Feb, 2010 12:00am
US offers anti-IED aid to Nato allies in Afghanistan

US offers anti-IED aid to Nato allies in Afghanistan

The United States promised on Friday to provide armoured vehicles, ground penetrating radar and other equipment to Nato allies to help protect their troops in Afghanistan from increasingly deadly roadside bombs. US Defence Secretary Robert Gates told a ga
Published 06 Feb, 2010 12:00am
Nato agrees steps to fill yawning budget gap

Nato agrees steps to fill yawning budget gap

Nato defence ministers have agreed a package of measures to fill a gaping budget shortfall of hundreds of millions of euros, alliance Secretary General Anders Fogh Rasmussen announced Friday. "Ministers have agreed a package of measures to ensure that our
Published 06 Feb, 2010 12:00am
Senator blocks all Obama nominees amid tanker feud

Senator blocks all Obama nominees amid tanker feud

A US Senator has taken the extraordinary step of blocking more than 70 of US President Barack Obama's nominees amid a dispute over a lucrative US Air Force tanker deal, senate aides said Friday. Senator Richard Shelby, the top Republican on the Senate Ban
Published 06 Feb, 2010 12:00am
EU to suspend Sri Lanka trading privileges over rights

EU to suspend Sri Lanka trading privileges over rights

EU nations have decided to suspend Sri Lanka's preferential trade status because of the island's human rights record and will make the formal move later this month, officials said Friday. "European ambassadors have taken the decision. The EU Commission's
Published 06 Feb, 2010 12:00am
European missile shield to protect against Iran: US

European missile shield to protect against Iran: US

A planned US anti-missile shield in Europe is intended to protect against the "emergent threat" from Iran, the US State Department said Thursday. "Our revised approach is tailored to address the emergent threat coming to the region from Iran," said depart
Published 06 Feb, 2010 12:00am
US army says failures behind deadly attack on Afghan base

US army says failures behind deadly attack on Afghan base

The US military Friday blamed a lack of leadership, diversion of vital assets and failure to recognise a growing threat for an insurgent attack on a remote base that killed eight US soldiers. The attack in early October on the base near the Pakistan borde
Published 06 Feb, 2010 12:00am
Brazil central bank minutes signal rate hike

Brazil central bank minutes signal rate hike

Brazil's economic recovery could fuel inflationary pressures, central bank policy makers said on Thursday, reinforcing analyst views the bank was laying the ground for its first interest rate hike since 2008. With recent stimuli chipping away at the remai
Published 06 Feb, 2010 12:00am
Thai central bank sees gradual monetary tightening

Thai central bank sees gradual monetary tightening

Thailand's central bank expects to tighten monetary policy this year as inflationary pressures grow, but rising prices are not yet a problem and rate rises will be gradual, a Bank of Thailand deputy governor said on Wednesday. "Any rate adjustment that wi
Published 06 Feb, 2010 12:00am
Vietnam 2010 FDI inflows seen up at $11 billion

Vietnam 2010 FDI inflows seen up at $11 billion

Disbursement of foreign direct investment (FDI) in Vietnam could rise 10 percent to between $10 billion and $11 billion this year, thanks to the global economic recovery, a government minister was quoted as saying.
Published 06 Feb, 2010 12:00am
Asian currencies: won leads slide

Asian currencies: won leads slide

The South Korean won led Asian currencies lower on Friday as investors dumped riskier assets on jitters over debt problems in Europe, prompting central banks in Indonesia and the Philippines to intervene to support their currencies. Asian stocks dipped, w
Published 06 Feb, 2010 12:00am
Hong Kong dollar falls

Hong Kong dollar falls

The Hong Kong dollar fell against a broadly stronger US dollar on Friday, as risk averson hammered global stock markets after an unexpected rise in US jobless claims and on concerns over the fiscal problems in the euro zone area. The local currency was qu
Published 06 Feb, 2010 12:00am
Euro falls versus dollar

Euro falls versus dollar

The euro plunged to a fresh seven-month low against the dollar on Thursday amid growing concerns over the fiscal health of debt-laden euro zone countries. European Central Bank President Jean-Claude Trichet predicted many members in the bloc will have lar
Published 06 Feb, 2010 12:00am
Euro leaps after Swiss central bank seen buying

Euro leaps after Swiss central bank seen buying

Switzerland's central bank was seen selling francs in Asian trading time on Friday, sending the euro leaping higher after it hit a 15-month low against the franc and helping it rise above an eight-month trough against the dollar. The euro has been under r
Published 06 Feb, 2010 12:00am
Seoul shares post lowest drop

Seoul shares post lowest drop

Seoul shares posted their lowest close in over two months on Friday with financials leading declines, as investors fled for safety amid global market falls on escalating European sovereign debt worries. The Korea Composite Stock Price Index (KOSPI) finish
Published 06 Feb, 2010 12:00am
Hong Kong, China shares fall

Hong Kong, China shares fall

Shares in Hong Kong and China fell on Friday, joining a global stock market rout, as investors dumped riskier assets on worries over sovereign debt problems in the eurozone and poor jobs data in the United States. Hong Kong shares retreated to their lowes
Published 06 Feb, 2010 12:00am
Taiwan stocks sink 4.3 percent

Taiwan stocks sink 4.3 percent

Taiwan stocks shed 4.3 percent on Friday, marking its biggest daily percentage fall in nearly 13 months, as investors dumped tech stocks such as UMC after Wall Street losses on rising debt problems in Europe. The main TAIEX share index dropped 324.21 poin
Published 06 Feb, 2010 12:00am
Korean bond prices rise

Korean bond prices rise

South Korean treasury bonds rose on Friday in a regional flight to safer assets on concerns over European debt problems and the US job market conditions. The finance ministry is set to issue 2.5 trillion won ($2.14 billion) in five-year treasury bonds on
Published 06 Feb, 2010 12:00am
Korean bond prices rise

Korean bond prices rise

South Korean treasury bonds rose on Friday in a regional flight to safer assets on concerns over European debt problems and the US job market conditions. The finance ministry is set to issue 2.5 trillion won ($2.14 billion) in five-year treasury bonds on
Published 06 Feb, 2010 12:00am
Temasek double to $10 billion bonds

Temasek double to $10 billion bonds

Singapore sovereign wealth fund Temasek said on Friday it doubled the size of its borrowing programme to $10 billion to allow for future bond issues. Moody's affirmed its Aaa rating on Temasek and said the increase in the size of the MTN allowed the Singa
Published 06 Feb, 2010 12:00am
Treasuries surge

Treasuries surge

US Treasury debt prices surged on Thursday as investors fled stocks and other riskier assets on fears European debt problems will spread and after an unexpected increase in US jobless claims. Yields on benchmark 10-year Treasury notes and two-year Treasur
Published 06 Feb, 2010 12:00am
Temasek double to $10 billion bonds

Temasek double to $10 billion bonds

Singapore sovereign wealth fund Temasek said on Friday it doubled the size of its borrowing programme to $10 billion to allow for future bond issues. Moody's affirmed its Aaa rating on Temasek and said the increase in the size of the MTN allowed the Singa
Published 06 Feb, 2010 12:00am
Treasuries surge

Treasuries surge

US Treasury debt prices surged on Thursday as investors fled stocks and other riskier assets on fears European debt problems will spread and after an unexpected increase in US jobless claims. Yields on benchmark 10-year Treasury notes and two-year Treasur
Published 06 Feb, 2010 12:00am
Dow slips 2.61 percent

Dow slips 2.61 percent

The Dow briefly fell below the crucial 10,000 mark on Thursday as stocks suffered their worst losses in more than nine months. Escalating sovereign debt problems in Europe and an unexpected rise in jobless claims put investors on the defensive just ahead
Published 06 Feb, 2010 12:00am
Japanese stocks edge down

Japanese stocks edge down

The Nikkei average fell almost 3 percent to a two-month closing low on Friday as risk aversion rose on growing sovereign debt problems in Europe, although Toyota shares managed to find a floor despite mounting recall woes. Mitsui & Co and other resource-l
Published 06 Feb, 2010 12:00am
Southeast Asia stocks tumble

Southeast Asia stocks tumble

Southeast Asian stock markets fell on Friday as growing concern about debt problems in Europe and US job data triggered broad selling in regional heavyweights, pulling indexes in Singapore and Malaysia to three-month lows. Singapore's stock index dropped
Published 06 Feb, 2010 12:00am
Asian debt spreads widen

Asian debt spreads widen

Asian credit spreads widened on Friday, hit by growing signs of sovereign debt problems in the euro zone and poor US jobs data that hurt demand for risky assets. The volatile market conditions forced India's state-run lender Bank of Baroda to postpone its
Published 06 Feb, 2010 12:00am
Asian debt spreads widen

Asian debt spreads widen

Asian credit spreads widened on Friday, hit by growing signs of sovereign debt problems in the euro zone and poor US jobs data that hurt demand for risky assets. The volatile market conditions forced India's state-run lender Bank of Baroda to postpone its
Published 06 Feb, 2010 12:00am
Japan downplays fiscal toughness

Japan downplays fiscal toughness

Japan should not prioritise fiscal discipline above other concerns, National Strategy Minister Yoshito Sengoku said on Friday, raising doubts whether the government will tighten its grip on bulging public debt. Bond investors are worried about Japan's run
Published 06 Feb, 2010 12:00am
OECD sees growing signs of recovery

OECD sees growing signs of recovery

There are growing signs of economic recovery in the world's biggest economies, the OECD said on Friday on the basis of its index of leading indicators. The OECD said its Composite Leading Indicators for December "provide stronger signals of an expansionar
Published 06 Feb, 2010 12:00am
G7 finance ministers gather in Canada's far north

G7 finance ministers gather in Canada's far north

G7 finance ministers and central bankers arrived in Canada's far north Friday for two days of talks aimed at keeping a tentative global economic recovery on course. They will gather for a dinner meeting at 6:45 pm (2345 GMT) at a hotel restaurant in this
Published 06 Feb, 2010 12:00am
Japan downplays fiscal toughness

Japan downplays fiscal toughness

Japan should not prioritise fiscal discipline above other concerns, National Strategy Minister Yoshito Sengoku said on Friday, raising doubts whether the government will tighten its grip on bulging public debt. Bond investors are worried about Japan's run
Published 06 Feb, 2010 12:00am
Syngenta plans buyback as 2010 outlook brightens

Syngenta plans buyback as 2010 outlook brightens

The world's largest agrochemicals company Syngenta's plans to return $750 million to shareholders this year as demand picks up, with a $200 million share buyback and an unchanged dividend. The Swiss group, which makes products to kill weeds and insects an
Published 06 Feb, 2010 12:00am
Syngenta plans buyback as 2010 outlook brightens

Syngenta plans buyback as 2010 outlook brightens

The world's largest agrochemicals company Syngenta's plans to return $750 million to shareholders this year as demand picks up, with a $200 million share buyback and an unchanged dividend. The Swiss group, which makes products to kill weeds and insects an
Published 06 Feb, 2010 12:00am
Air Products makes $5.1 billion bid to buy Airgas

Air Products makes $5.1 billion bid to buy Airgas

Air Products and Chemicals Inc launched an unsolicited $5.1-billion cash bid to buy rival Airgas Inc on Friday in a move to create the largest industrial gas company in North America. Air Products' $60-per-share bid represents a 38-percent premium over Ai
Published 06 Feb, 2010 12:00am
BG Group targets strong growth as profits fall

BG Group targets strong growth as profits fall

British gas producer BG Group Plc said it was targeting strong growth in oil and gas production in the coming decade but near-term weakness and a bigger than expected drop in profits hit shares. BG said it expected to grow output at the upper end of its c
Published 06 Feb, 2010 12:00am
BG Group targets strong growth as profits fall

BG Group targets strong growth as profits fall

British gas producer BG Group Plc said it was targeting strong growth in oil and gas production in the coming decade but near-term weakness and a bigger than expected drop in profits hit shares. BG said it expected to grow output at the upper end of its c
Published 06 Feb, 2010 12:00am
No agreement yet on A400M financing: Germany

No agreement yet on A400M financing: Germany

A400M customer nations have not yet agreed on financing for the project, said German Defence Minister Karl-Theodor Zu Guttenberg on Friday, as delays and cost overruns threaten to scupper it. His remarks come after France's defence minister told reporters
Published 06 Feb, 2010 12:00am
BlueGold says not behind oil fall

BlueGold says not behind oil fall

BlueGold Capital, a hedge fund managing $1.5 billion, said it was not responsible for recent crude price falls after market talk it had sold long positions helped send oil down 5 percent on Thursday. "We utterly and completely deny it," Dennis Crema, chie
Published 06 Feb, 2010 12:00am
Rates 'appropriate', says Philippine bank

Rates 'appropriate', says Philippine bank

The Philippines central bank said Friday its interest rate policy was "appropriate" after data showed inflation eased slightly in January. The 4.3 percent rise in prices was just below the 4.4 percent seen in December and lower than the bank's forecast of
Published 06 Feb, 2010 12:00am
Beware of bubbles, IMF Latin America chief warns

Beware of bubbles, IMF Latin America chief warns

High commodity prices and a strong tide of capital inflows pose the biggest long-term threat to South American economies, the International Monetary Fund's top official for the region told Reuters. "The problem for South America is how to manage abundance
Published 06 Feb, 2010 12:00am
IMF says mission to visit Serbia for loan talks

IMF says mission to visit Serbia for loan talks

The International Monetary Fund said Friday it would send a mission to Serbia next week to assess the country's bid for a third instalment of an IMF standby loan. The mission, due to arrive for a two-week visit on Monday, is to review whether Serbia has m
Published 06 Feb, 2010 12:00am
French champagne house Piper Heidsieck slashes jobs

French champagne house Piper Heidsieck slashes jobs

French champagne house Piper Heidsieck announced Friday it would cut a quarter of its staff in France after the recession caused a sharp drop in sales. Revenues have dropped 42 percent since March last year at the champagne house that specialises in high-
Published 06 Feb, 2010 12:00am
China's foreign exchange rates add $71 billion in 2009 reserves

China's foreign exchange rates add $71 billion in 2009 reserves

Changes in foreign exchange rates and asset valuations contributed $71 billion to China's foreign exchange reserve growth in 2009, China's State Administration of Foreign Exchange (SAFE) said in a statement on Friday. It accounted for 15.7 percent of Chin
Published 06 Feb, 2010 12:00am
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