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Nov 17, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2010-07-17
US wheat prices rise to 13-month high

US wheat prices rise to 13-month high

US wheat prices on the Chicago Board of Trade soared more than 6 percent Thursday to their highest level in 13 months, fuelled by crop concerns across Europe, particularly in drought-stricken Russia. CBOT soyabeans and corn followed wheat higher, finding
Published 17 Jul, 2010 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 117,209 tonnes of cargo including 80,027 tonnes of import cargo and 37,182 tonnes of export cargo during last 24 hours ended at 0700 hours on Friday. The total import cargo of 80,027 tonnes comprised of 22,887 tonnes of containeri
Published 17 Jul, 2010 12:00am
Bears dominate spot rate, ready business on cotton market

Bears dominate spot rate, ready business on cotton market

Bearish trend persisted on the cotton market on Thursday as mills were making new deals to keep themselves safe from any apprehension, dealers said. The Karachi Cotton Association (KCA) official spot rate was extended overnight fall by Rs 200 to Rs 6,700,
Published 17 Jul, 2010 12:00am
TCP to decide fate of two sugar contracts today

TCP to decide fate of two sugar contracts today

Trading Corporation of Pakistan (TCP) is to decide the fate of two sugar contracts of 150,000 tons awarded to two different importers, on Saturday (July 17), as both parties are said to have virtually defaulted, well-informed sources told Business Reco
Published 17 Jul, 2010 12:00am
No deal on grain market

No deal on grain market

Not a single deal was reported on the wholesale grain and seed market on Friday, as all-most all the market players were busy in preparations for Juma prayers.
Published 17 Jul, 2010 12:00am
TCP to decide fate of two sugar contracts today

TCP to decide fate of two sugar contracts today

Trading Corporation of Pakistan (TCP) is to decide the fate of two sugar contracts of 150,000 tons awarded to two different importers, on Saturday (July 17), as both parties are said to have virtually defaulted, well-informed sources told Business Reco
Published 17 Jul, 2010 12:00am
Kirana items higher on Jodia Bazar

Kirana items higher on Jodia Bazar

The trading in Kirana items moved higher on Jodia Bazar here on Friday. The following variations were noted.
Published 17 Jul, 2010 12:00am
TCP to decide fate of two sugar contracts today

TCP to decide fate of two sugar contracts today

Trading Corporation of Pakistan (TCP) is to decide the fate of two sugar contracts of 150,000 tons awarded to two different importers, on Saturday (July 17), as both parties are said to have virtually defaulted, well-informed sources told Business Reco
Published 17 Jul, 2010 12:00am
General Electric ends long profit slump, but revenue falls short

General Electric ends long profit slump, but revenue falls short

General Electric Co posted its first quarterly profit increase in more than two years on Friday, but a sharper-than-expected drop in revenue spooked investors and its shares fell about 3 percent. A 4 percent slide in second-quarter revenue overshadowed an
Published 17 Jul, 2010 12:00am
Talks on APTTA: ''domestic industry''s interests being compromised''

Talks on APTTA: ''domestic industry''s interests being compromised''

Pakistani negotiators are compromising the interests of domestic industry in talks with Afghanistan on Washington-pushed Afghanistan-Pakistan Transit Trade Agreement (APTTA), official insiders and industry sources told Business Recorder. However, I
Published 17 Jul, 2010 12:00am
General Electric ends long profit slump, but revenue falls short

General Electric ends long profit slump, but revenue falls short

General Electric Co posted its first quarterly profit increase in more than two years on Friday, but a sharper-than-expected drop in revenue spooked investors and its shares fell about 3 percent. A 4 percent slide in second-quarter revenue overshadowed an
Published 17 Jul, 2010 12:00am
Talks on APTTA: 'domestic industry's interests being compromised'

Talks on APTTA: 'domestic industry's interests being compromised'

Pakistani negotiators are compromising the interests of domestic industry in talks with Afghanistan on Washington-pushed Afghanistan-Pakistan Transit Trade Agreement (APTTA), official insiders and industry sources told Business Recorder. However, I
Published 17 Jul, 2010 12:00am
Price hike for Nano, world's cheapest car

Price hike for Nano, world's cheapest car

The makers of the world's cheapest car, the Nano, said Friday it was raising the price of the snub-nosed four-door vehicle as it announced plans to ramp up production. Launched in 2009 with a price tag as low as 123,000 rupees (2,629 dollars) by Tata Moto
Published 17 Jul, 2010 12:00am
Talks on APTTA: 'domestic industry's interests being compromised'

Talks on APTTA: 'domestic industry's interests being compromised'

Pakistani negotiators are compromising the interests of domestic industry in talks with Afghanistan on Washington-pushed Afghanistan-Pakistan Transit Trade Agreement (APTTA), official insiders and industry sources told Business Recorder. However, I
Published 17 Jul, 2010 12:00am
Zurich braces for property loan losses in UK, Ireland

Zurich braces for property loan losses in UK, Ireland

Swiss insurer Zurich Financial Services AG has sharply raised provisions to shield against property loan losses in UK and Ireland, highlighting lenders' concerns about Europe's struggling real estate markets. The group, which was financing commercial prop
Published 17 Jul, 2010 12:00am
Transporters'' strike: trade under ATTA comes to a standstill

Transporters'' strike: trade under ATTA comes to a standstill

The transportation of cargo from Pakistan to Afghanistan under Afghan Transit Trade Agreement (ATTA) has come to a standstill due to transporters'' strike on two sides of the Durand Line. The country''s ports are likely to face congestion as hundreds of c
Published 17 Jul, 2010 12:00am
Google profit misses Wall Street view, shares fall

Google profit misses Wall Street view, shares fall

Google Inc missed Wall Street's profit estimates in its second quarter after a spike in expenses offset a 24 percent revenue jump, a rare stumble for a company accustomed to shattering financial expectations.
Published 17 Jul, 2010 12:00am
Transporters' strike: trade under ATTA comes to a standstill

Transporters' strike: trade under ATTA comes to a standstill

The transportation of cargo from Pakistan to Afghanistan under Afghan Transit Trade Agreement (ATTA) has come to a standstill due to transporters' strike on two sides of the Durand Line. The country's ports are likely to face congestion as hundreds of con
Published 17 Jul, 2010 12:00am
Google profit misses Wall Street view, shares fall

Google profit misses Wall Street view, shares fall

Google Inc missed Wall Street's profit estimates in its second quarter after a spike in expenses offset a 24 percent revenue jump, a rare stumble for a company accustomed to shattering financial expectations.
Published 17 Jul, 2010 12:00am
Transporters' strike: trade under ATTA comes to a standstill

Transporters' strike: trade under ATTA comes to a standstill

The transportation of cargo from Pakistan to Afghanistan under Afghan Transit Trade Agreement (ATTA) has come to a standstill due to transporters' strike on two sides of the Durand Line. The country's ports are likely to face congestion as hundreds of con
Published 17 Jul, 2010 12:00am
India's non-food mfg inflation picking up

India's non-food mfg inflation picking up

India's non-food manufacturing inflation is picking up, a top government adviser said on Friday, in a sign broader inflation is becoming demand-driven, keeping pressure on the central bank to tighten monetary policy. The Reserve Bank of India (RBI), which
Published 17 Jul, 2010 12:00am
General Kayani gets two-year extension: Aaj News

General Kayani gets two-year extension: Aaj News

The government has decided to give a two-year extension to the incumbent Chief of Army Staff General Ashfaq Parvez Kayani, Aaj News reported late Friday night. Quoting sources, the channel claimed that a notification in this respect is likely to be
Published 17 Jul, 2010 12:00am
Germany rejects job-loss claims over air tax

Germany rejects job-loss claims over air tax

The German government Friday rejected airlines' claims that its proposed new 26-euro (33-dollar) tax on airport departures would result in the loss of thousands of jobs. As part of a sweeping austerity package designed to save more than 80 billion euros o
Published 17 Jul, 2010 12:00am
General Kayani gets two-year extension: Aaj News

General Kayani gets two-year extension: Aaj News

The government has decided to give a two-year extension to the incumbent Chief of Army Staff General Ashfaq Parvez Kayani, Aaj News reported late Friday night. Quoting sources, the channel claimed that a notification in this respect is likely to be
Published 17 Jul, 2010 12:00am
Mexico central bank holds interest rates steady

Mexico central bank holds interest rates steady

Mexico left bank lending rates at a 6-1/2-year low on Friday to boost the still weak economy but policymakers said factory exports were growing quickly and consumer spending showed signs of improvement. The central bank said it was leaving its target for
Published 17 Jul, 2010 12:00am
India 'should call off Pakistan talks': BJP

India 'should call off Pakistan talks': BJP

India's main opposition demanded the government pull out of faltering peace talks with Pakistan on Friday and said a meeting between foreign ministers from the countries had achieved nothing. India's Foreign Minister S.M. Krishna and his Pakistani counter
Published 17 Jul, 2010 12:00am
Malaysia cuts subsidies in surprise move

Malaysia cuts subsidies in surprise move

Malaysia surprisingly hiked fuel and sugar prices on Friday to reduce expensive subsidies, a controversial move that will save the government more than 230 million dollars this year alone. But the decision could have serious political repercussions for Pr
Published 17 Jul, 2010 12:00am
India 'should call off Pakistan talks': BJP

India 'should call off Pakistan talks': BJP

India's main opposition demanded the government pull out of faltering peace talks with Pakistan on Friday and said a meeting between foreign ministers from the countries had achieved nothing. India's Foreign Minister S.M. Krishna and his Pakistani counter
Published 17 Jul, 2010 12:00am
SEC creates units for financial firms, ABS

SEC creates units for financial firms, ABS

The US Securities and Exchange Commission said on Friday it created three expert units to focus on big financial companies, complex securities and securities offerings. The new offices within the division of corporate finance largely mirror the industries
Published 17 Jul, 2010 12:00am
Pakistan must punish Mumbai attackers: Krishna

Pakistan must punish Mumbai attackers: Krishna

Efforts to improve the strained ties between India and Pakistan will fail if Islamabad does not act against terror emanating from its territory, India's external affairs minister warned Friday. S.M. Krishna also said Pakistan should actively pursue new in
Published 17 Jul, 2010 12:00am
BP stops oil spewing into Gulf, well pressure rises

BP stops oil spewing into Gulf, well pressure rises

BP Plc's stricken oil well showed no sign of leaking on Friday after a new cap stopped crude from flowing into the Gulf of Mexico, but President Barack Obama cautioned there was more work to do before the guusher was permanently stopped BP was conducting
Published 17 Jul, 2010 12:00am
Pakistan must punish Mumbai attackers: Krishna

Pakistan must punish Mumbai attackers: Krishna

Efforts to improve the strained ties between India and Pakistan will fail if Islamabad does not act against terror emanating from its territory, India's external affairs minister warned Friday. S.M. Krishna also said Pakistan should actively pursue new in
Published 17 Jul, 2010 12:00am
EU agrees key criteria for testing health of banks

EU agrees key criteria for testing health of banks

European Union governments have agreed the key criteria of stress tests for the bloc's banks, EU sources said on Friday, and senior policymakers voiced optimism about their results. Under the agreement, each of the 91 banks being tested will publish its r
Published 17 Jul, 2010 12:00am
Pak-US Strategic Dialogue: water dispute with India tops agenda

Pak-US Strategic Dialogue: water dispute with India tops agenda

Water dispute with India will be on top of the agenda from Pakistan in the upcoming Strategic Dialogue with the US, it has been reliably learnt. Sources said the agenda of Strategic Dialogue has been reprioritised and water dispute with India was placed o
Published 17 Jul, 2010 12:00am
US consumer prices drop, sentiment sours

US consumer prices drop, sentiment sours

Weak energy costs pushed US consumer prices down for a third straight month in June while consumer sentiment dropped to a near one-year low in July, highlighting the sluggishness of the economic recovery. However, prices excluding food and energy rose 0.2
Published 17 Jul, 2010 12:00am
Pak-US Strategic Dialogue: water dispute with India tops agenda

Pak-US Strategic Dialogue: water dispute with India tops agenda

Water dispute with India will be on top of the agenda from Pakistan in the upcoming Strategic Dialogue with the US, it has been reliably learnt. Sources said the agenda of Strategic Dialogue has been reprioritised and water dispute with India was placed o
Published 17 Jul, 2010 12:00am
Serbian, Russian firms agree on exploring Bosnia oilfields

Serbian, Russian firms agree on exploring Bosnia oilfields

Serbian oil company NIS, controlled by Russian energy giant Gazprom, and Russian state-run firm Zarubezneft on Friday agreed to cooperate to explore oilfields in north Bosnia. "We expect that this project in Republika Srpska will be broadened on the whole
Published 17 Jul, 2010 12:00am
Animosity grows

Animosity grows

Pakistan on Friday said that last minute hitch on Indian side led to a deadlock in the process of preparing a road-map for the resumption of Composite Dialogue between the two countries. Addressing a news conference after certificates distribution ceremon
Published 17 Jul, 2010 12:00am
Total fined for British oil depot fire

Total fined for British oil depot fire

French oil giant Total and four other companies responsible for a huge explosion at a British oil depot must pay fines and costs of more than nine million pounds (13.8 million dollars, 10.6 million euros), a court ruled Friday. Total received the stiffest
Published 17 Jul, 2010 12:00am
Animosity grows

Animosity grows

Pakistan on Friday said that last minute hitch on Indian side led to a deadlock in the process of preparing a road-map for the resumption of Composite Dialogue between the two countries. Addressing a news conference after certificates distribution ceremon
Published 17 Jul, 2010 12:00am
Bank of America, Citi results show hurdles ahead

Bank of America, Citi results show hurdles ahead

Bank of America and Citigroup posted better-than-expected quarterly earnings on lower credit losses, but their shares fell as the banks highlighted the challenge of boosting revenue in a stagnant economy. As with J.P. Morgan Chase & Co, which reported on
Published 17 Jul, 2010 12:00am
RBS may seek more after $100 million Goldman payout

RBS may seek more after $100 million Goldman payout

Royal Bank of Scotland may pursue Goldman Sachs for substantially more than the $100 million it received as part of a settlement over the marketing of a subprime mortgage product. RBS said on Friday it would "carefully consider all of its options" after G
Published 17 Jul, 2010 12:00am
Goldman Sachs agrees $550 million settlement

Goldman Sachs agrees $550 million settlement

Embattled US bank Goldman Sachs will pay a record 550 million dollars to settle government fraud charges, the Securities and Exchange Commission said Thursday. Facing allegations of defrauding investors, the storied investment bank admitted it had made a
Published 17 Jul, 2010 12:00am
Asian bond spreads widen

Asian bond spreads widen

Asian bond spreads widened on Friday as investors shed riskier assets following disappointing US economic data, while recent issues such as PTT Exploration and Production (PTTEP) fell on profit taking. The Asia ex-Japan iTraxx investment-grade index widen
Published 17 Jul, 2010 12:00am
Asian bond spreads widen

Asian bond spreads widen

Asian bond spreads widened on Friday as investors shed riskier assets following disappointing US economic data, while recent issues such as PTT Exploration and Production (PTTEP) fell on profit taking. The Asia ex-Japan iTraxx investment-grade index widen
Published 17 Jul, 2010 12:00am
Southeast Asian stocks mostly up

Southeast Asian stocks mostly up

Southeast Asian stock markets mostly rose on Friday, with Indonesia near a record high and Singapore hitting its highest in more than 10 weeks as investors sought out shares in companies likely to report good results. Indonesia, the region's best performe
Published 17 Jul, 2010 12:00am
Nikkei tumbles

Nikkei tumbles

Japan's Nikkei average fell nearly 3 percent on Friday for its worst one-day percentage loss in over a month as investors took profits before a long weekend, worried that the yen could rise further towards 15-year highs against the dollar. Trade was thin
Published 17 Jul, 2010 12:00am
Wall Street recoups losses on BP, Goldman

Wall Street recoups losses on BP, Goldman

US stocks ended little changed on Thursday, recouping losses late in the day, led by a sudden turnaround in Goldman Sachs and BP. BP's US-listed shares jumped 7.6 percent after the company said no oil is leaking from its blown-out well in the Gulf of Mexi
Published 17 Jul, 2010 12:00am
European CDS indices widen

European CDS indices widen

European corporate credit default swap spreads edged wider on Friday on uncertainty about the health of the US economy and corporate earnings, but BP credit default swaps tightened after it capped its oil leak. Markets were nervous ahead of key company re
Published 17 Jul, 2010 12:00am
European CDS indices widen

European CDS indices widen

European corporate credit default swap spreads edged wider on Friday on uncertainty about the health of the US economy and corporate earnings, but BP credit default swaps tightened after it capped its oil leak. Markets were nervous ahead of key company re
Published 17 Jul, 2010 12:00am
Treasuries gain

Treasuries gain

US Treasuries rallied on Thursday, pushing two-year yields to a record low as faltering manufacturing growth and declining producer prices painted a bond-positive picture of a slowing economy and low inflation. Regional factory activity reports from the N
Published 17 Jul, 2010 12:00am
Treasuries gain

Treasuries gain

US Treasuries rallied on Thursday, pushing two-year yields to a record low as faltering manufacturing growth and declining producer prices painted a bond-positive picture of a slowing economy and low inflation. Regional factory activity reports from the N
Published 17 Jul, 2010 12:00am
Indian shares rise for second week

Indian shares rise for second week

Indian shares rose for the second week and closed 0.3 percent higher on Friday, propped up by gains in Tata Consultancy Services as brokerages cheered the top outsourcer's forecast-beating quarterly earnings by raising their target prices.
Published 17 Jul, 2010 12:00am
Hong Kong, Chinese stocks flat

Hong Kong, Chinese stocks flat

China's key stock index ended flat on Friday in thin volume, rebounding from a decline in the morning but capped by further signs that big corporate fundraisings would continue to keep a lid on share prices. Stocks in Hong Kong also ended flat as bargain-
Published 17 Jul, 2010 12:00am
Seoul shares fall

Seoul shares fall

Seoul shares slipped on Friday, pressured by concerns that slowing economic growth in China, South Korea's biggest export market, could take a toll on exports such as flat panels from LG Display. The Korea Composite Stock Price Index (KOSPI) ended down 0.
Published 17 Jul, 2010 12:00am
FTSE 100 posts lowest close in a week

FTSE 100 posts lowest close in a week

Weaker banks, dented by lacklustre results from US peers, dragged Britain's top share index to the lowest close in a week on Friday while commodity stocks also retreated on a gloomy macro-economic outlook. Strength from BP, up 1.3 percent, limited losses.
Published 17 Jul, 2010 12:00am
Euro rates extend gains

Euro rates extend gains

Bank-to-bank euro funding costs rose again on Friday with the three-month rate hitting a 10-1/2 month high, while the equivalent overnight index swap scaled a one-year peak, adjusting to falling excess liquidity. These moves came after the overnight Eonia
Published 17 Jul, 2010 12:00am
Sterling falls versus euro

Sterling falls versus euro

Sterling fell on Friday, hitting its lowest level against the euro since June 1 as rising European money market rates and higher equities stoked demand for the single currency. Better-than-expected US corporate earnings this week, including from Bank of A
Published 17 Jul, 2010 12:00am
Dollar weakens in Asia

Dollar weakens in Asia

The dollar weakened on Friday, crawling towards a seven-month trough against the yen after a series of US data this week underscored a slackening in the economy's recovery. Market players closely watched whether the dollar could hold above its July 1 low
Published 17 Jul, 2010 12:00am
Euro hits fresh two-month high in London

Euro hits fresh two-month high in London

The euro hit a fresh two-month high versus the dollar on Friday, supported by rising European money market rates which took it close to barriers at $1.30 while a deteriorating US economic outlook dented the dollar. The dollar slid to a two-and-a-half mont
Published 17 Jul, 2010 12:00am
Early trade: Euro falls from two-month high

Early trade: Euro falls from two-month high

The euro stepped back after touching a two-month high versus a broadly weaker dollar on Friday, as investors bet that gains supported by rising European money market rates were overdone. In afternoon trade in New York, the euro was slightly lower at $1.29
Published 17 Jul, 2010 12:00am
Dollar falls broadly, euro soars in New York

Dollar falls broadly, euro soars in New York

The US dollar fell broadly on Thursday and the euro soared to a two-month high above $1.29 as soft inflation and manufacturing data added to concerns about the strength of the US economy. US producer prices declined for a third straight month, the Labour
Published 17 Jul, 2010 12:00am
Australian and New Zealand dollars dip

Australian and New Zealand dollars dip

The Australian and New Zealand dollars dropped on Friday against a surging yen, in part as Japanese margin investors cut long positions into a holiday weekend and ahead of looming rule changes. The Aussie had already been hit by sharp short squeeze in the
Published 17 Jul, 2010 12:00am
Indian rupee slips

Indian rupee slips

The Indian rupee weakened on Friday as dollar demand for defence purchases and some unwinding of short euro asia positions in the non-deliverable forwards market weighed. The partially convertible rupee closed at 46.80/81 per dollar, off the day's low of
Published 17 Jul, 2010 12:00am
Won edges up; Singapore dollar near two-week high

Won edges up; Singapore dollar near two-week high

The South Korean won edged up against the dollar on Friday on fund inflows, while the Singapore dollar hovered near a two-week high against the Malaysian ringgit after this week's rosy economic data. The US dollar stuck near 2-1/2-month lows against a bas
Published 17 Jul, 2010 12:00am
Key dollar/yuan volumes at six-week low

Key dollar/yuan volumes at six-week low

Benchmark dollar/yuan offshore implied volatilities fell to a six-week low on Friday as investors felt less urgency to hedge against the prospect of yuan appreciation amid increasing signs China may hesitate to let its currency rise sharply. Benchmark one
Published 17 Jul, 2010 12:00am
Bosnia risks exclusion from FIFA and UEFA competitions

Bosnia risks exclusion from FIFA and UEFA competitions

Bosnia's Football Federation (NSBIH) has risked suspension from FIFA and UEFA competitions after rejecting a request to reform its statute, Bosnian state radio reported on Friday. Soccer's ruling bodies had warned that failure to replace the NSBIH's tripa
Published 17 Jul, 2010 12:00am
Pakistan among 34 Asian participants of London Olympics qualifier

Pakistan among 34 Asian participants of London Olympics qualifier

Asian Football Confederation (AFC) has confirmed Asian entries for the qualifying rounds of the 2012 London Olympics Football Tournament to be played in 2011. As many as 34 teams, including Pakistan will fight it out for three (or four) spots in the men's
Published 17 Jul, 2010 12:00am
Rashid Latif to join Afghanistan as batting coach

Rashid Latif to join Afghanistan as batting coach

Former Pakistan captain Rashid Latif said Friday he would become Afghanistan's batting coach and try to bring the nascent team into play with other Asian nations. "I have decided to join the Afghanistan team as batting coach and help them improve at inter
Published 17 Jul, 2010 12:00am
ICC chief hints at Test Championship by 2013

ICC chief hints at Test Championship by 2013

International Cricket Council (ICC) chief executive Haroon Lorgat has hinted England could play host to an inaugural Test championship in 2013. The ICC, cricket's governing body, have been weighing up the possibility of introducing a Test championship as
Published 17 Jul, 2010 12:00am
Liverpool, Juventus, Ajax learn European fates

Liverpool, Juventus, Ajax learn European fates

Some of Europe's biggest clubs learnt their immediate fates in continental competition on Friday when the third-round qualifying draws for the Champions League and Europa League were made. Liverpool and Juventus have 45 league titles and seven European Cu
Published 17 Jul, 2010 12:00am
Modi snubs disciplinary panel

Modi snubs disciplinary panel

Suspended Indian Premier League (IPL) chief Lalit Modi declined to attend a disciplinary hearing Friday before an Indian cricket board panel that he insists is biased against him. Instead Modi sent a team of lawyers before the Board of Control for Cricket
Published 17 Jul, 2010 12:00am
ICC adopts 'whereabouts' drug rules

ICC adopts 'whereabouts' drug rules

The International Cricket Council (ICC) has adopted the 'whereabouts' drug-testing procedure, the global governing body said Friday. The new rules will come into force on August 1 and have the support of the Word Anti-Doping Agency (WADA). In athletics, w
Published 17 Jul, 2010 12:00am
World champion Semenya wins comeback race

World champion Semenya wins comeback race

South Africa's world 800 metres champion Caster Semenya won her comeback race on Thursday after an enforced break of almost a year following controversial gender tests. Semenya won in two minutes 4.22 seconds in the south-eastern Finnish town of Lappeenra
Published 17 Jul, 2010 12:00am
Maradona set to stay on

Maradona set to stay on

Diego Maradona is set to stay as Argentina coach despite their loss to Germany in the World Cup quarter-finals, amid reports Friday the Argentine Federation would offer him the chance to stay on for the next tournament in neighbouring Brazil in 2014.
Published 17 Jul, 2010 12:00am
Afridi quits Test cricket after record Australia win

Afridi quits Test cricket after record Australia win

Captain Shahid Afridi added to the turmoil afflicting Pakistan cricket on Friday by announcing his decision to quit the Test arena after his side were beaten within four days by Australia at Lord's. Afridi, 30, was persuaded by the Pakistan Cricket Board
Published 17 Jul, 2010 12:00am
EU judges bar extradition of Kosovo man to US

EU judges bar extradition of Kosovo man to US

A panel of three European judges serving in Kosovo rebuffed a US request for the extradition of a Kosovo Albanian man wanted on terrorism charges, the European Union mission said on Friday. Bajram Asllani, 29, was arrested on June 17 by Kosovo and EU poli
Published 17 Jul, 2010 12:00am
Typhoon grazes China, Vietnam evacuates thousands

Typhoon grazes China, Vietnam evacuates thousands

Southern China battened down on Friday as Typhoon Conson hit the edge of a tourist island and Vietnam deployed nearly 3,000 troops to areas in the path of the storm that gathered strength over the South China Sea. Swollen rivers and landslides have killed
Published 17 Jul, 2010 12:00am
Nato and Russia split on efforts to relaunch security dialogue

Nato and Russia split on efforts to relaunch security dialogue

A sharp split emerged Friday between Russia and Nato over how to relaunch their security dialogue, highlighting a lingering mutual mistrust two years after the Russia-Georgia war. The 28 Nato nations rejected a new treaty proposed by Moscow to revamp the
Published 17 Jul, 2010 12:00am
Some Afghan provinces to be handed over by spring: UK

Some Afghan provinces to be handed over by spring: UK

Afghan forces should be able to take control of several provinces from Western troops by next spring, a senior British official said on Thursday, scaling back a previous British and Nato goal of starting handovers in 2010. "It is our expectation that betw
Published 17 Jul, 2010 12:00am
Merkel urges China to open up markets

Merkel urges China to open up markets

German Chancellor Angela Merkel on Friday prodded China to ease access to its markets, as the world's top two exporting nations signed a series of deals reportedly worth several billion dollars. After meeting Premier Wen Jiabao and overseeing the signing
Published 17 Jul, 2010 12:00am
Heavy rains, floods kill 24 in Yemen and Saudi

Heavy rains, floods kill 24 in Yemen and Saudi

Fierce rains and floods have killed 24 people in north-west Yemen and south-west Saudi Arabia and cut off several villages, local media and government officials said on Friday. Heavy downpours in Yemen's Wasab Safil district forced a dam to burst, the Int
Published 17 Jul, 2010 12:00am
Rare earthquake shakes Washington, but not Obama

Rare earthquake shakes Washington, but not Obama

A rare 3.6-magnitude quake rattled Washington and the surrounding area early Friday, startling locals but failing to rouse the commander-in-chief from his slumber in the White House. The quake struck 35 kilometers (20 miles) north-west of the US federal c
Published 17 Jul, 2010 12:00am
Foreigners among 30 dead in Iraq hotel blaze

Foreigners among 30 dead in Iraq hotel blaze

Guests leapt desperately to their deaths from upper-floor windows as a fire tore through a hotel in northern Iraq killing 30 people, 14 of them foreigners, police and medics said on Friday. Citizens of Australia, Britain, Canada and several Asian and Sout
Published 17 Jul, 2010 12:00am
Russian parliament enlarges powers of KGB successor

Russian parliament enlarges powers of KGB successor

The Russian parliament on Friday passed a controversial bill expanding what rights groups warn are the already formidable powers of the successor to the Soviet-era KGB security service. Rights activists and some lawmakers say the bill would essentially pu
Published 17 Jul, 2010 12:00am
Turkey unveils its own drone plane for first time

Turkey unveils its own drone plane for first time

Turkey on Friday unveiled its first drone airplane, a surveillance craft able to fly for 24-hour stretches over the rugged mountains where Kurdish rebels are waging a deadly insurgency. Turkey's eagerness to produce its own military technology mirrors its
Published 17 Jul, 2010 12:00am
In US spy case, man gets life, wife 81 months

In US spy case, man gets life, wife 81 months

A US judge on Friday sentenced a former State Department worker who is the great grandson of Alexander Graham Bell to life in prison without possibility of parole for spying for Cuba and sentenced the man's wife to more than 5 years behind bars for helpin
Published 17 Jul, 2010 12:00am
New York cotton ends firmer but in tight band

New York cotton ends firmer but in tight band

Cotton futures edged up to a firm close Friday on investor buying as the market consolidated, and brokers said the next move depends on outside markets. The key December cotton contract added 0.49 cent to close at 73.96 cents per lb, trading between 73.13
Published 17 Jul, 2010 12:00am
US copper gains

US copper gains

US copper futures closed with modest gains on Thursday, supported by a broadly weaker dollar and holding firm despite mixed US and Chinese economic data that fed near-term demand concerns. Copper for September delivery rose 0.35 cent to settle at $3.0120
Published 17 Jul, 2010 12:00am
Shanghai copper up

Shanghai copper up

Shanghai copper edged up on Friday while London prices slipped, as concerns over the prospects for the global economy continued to dominate sentiment, with prices expected to remain stuck in tight ranges. Shanghai's benchmark third-month copper futures co
Published 17 Jul, 2010 12:00am
Copper sinks to 10-day low

Copper sinks to 10-day low

Copper fell on Friday to a 10-day low on a sharp drop in US stocks and as poor macro economic data renewed fears about the strength of economic recovery in the United States. Benchmark copper on the London Metal Exchange fell to $6,490 a tonne, its lowest
Published 17 Jul, 2010 12:00am
Tokyo rubber futures inch up

Tokyo rubber futures inch up

Tokyo rubber futures edged higher on Friday on the back of demand in the physical market, but weaker oil prices capped gains, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for December delivery rose 1.5 yen to settle at 263.9
Published 17 Jul, 2010 12:00am
New York sugar and coffee up

New York sugar and coffee up

Sugar finished mostly higher on Thursday, as a large vessel line-up to load the sweetener in top producer Brazil caused port congestion. Chart-based buying pushed arabica coffee futures closer toward last month's 12-year peak. In cocoa, dealers focused on
Published 17 Jul, 2010 12:00am
US soyabeans end higher

US soyabeans end higher

US soyabean futures closed higher on Thursday on spillover support from a soaring wheat market and some forecasts for hotter and drier weather in the US in late July and August. Big export sales of US soya also supportive. CBOT August up 21-1/2 cents per
Published 17 Jul, 2010 12:00am
Malaysian palm oil rises

Malaysian palm oil rises

Malaysian crude palm oil rose 1.58 percent on Friday after reaching a six-week high on concern erratic weather may cut competitive crop yields and on strong demand ahead of Ramadan in August. The benchmark October contract on Bursa Malaysia's Derivatives
Published 17 Jul, 2010 12:00am
Liffe cocoa soars

Liffe cocoa soars

Liffe September cocoa closed at 2,445 pounds per tonne, up 26 pounds on Friday. Nearly all the physical stocks of cocoa that back futures trading of the commodity in London were snapped up on Friday after the July contract expired, fuelling fears of a Sep
Published 17 Jul, 2010 12:00am
Oil falls to $76

Oil falls to $76

Oil fell to around $76 a barrel on Friday, dropping alongside equities markets as weak US consumer sentiment and falling consumer prices lowered investor appetite for risk. Data released on Friday showed US consumer prices fell for a third straight month
Published 17 Jul, 2010 12:00am
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