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Print - 2010-07-23
Oil cake market rates

Oil cake market rates

An upward tempo was seen on the forward cottonseed oilcake market on Thursday during the day, dealers said. The July contract that had closed at Rs 986.40 opened with 20 paisa gain at Rs 986.60, dealers said. The December vaida which ended at Rs 959.20 op
Published 23 Jul, 2010 12:00am
Lint, phutti prices turn easy on cotton market

Lint, phutti prices turn easy on cotton market

Prices fell marginally on the cotton market on Thursday as picking operations accelerated despite rains in the cotton growing areas, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 6,000, they said. In the ready b
Published 23 Jul, 2010 12:00am
Pressure mounts on cotton prices

Pressure mounts on cotton prices

With early and increasing arrivals of new crop cotton (2010-2011), fiber prices continue to face more pressure. Wholesome monsoon showers over the past week or ten days, particularly in Punjab, are being deemed positive for the growth and development of t
Published 23 Jul, 2010 12:00am
Pressure mounts on cotton prices

Pressure mounts on cotton prices

With early and increasing arrivals of new crop cotton (2010-2011), fiber prices continue to face more pressure. Wholesome monsoon showers over the past week or ten days, particularly in Punjab, are being deemed positive for the growth and development of t
Published 23 Jul, 2010 12:00am
Indonesia parliament okays Nasution as central bank chief

Indonesia parliament okays Nasution as central bank chief

Indonesia's parliament approved the appointment of Darmin Nasution as central bank governor on Thursday, as expected, a move seen as positive for the country's reform drive and for bonds, stocks and the currency. The challenges for Nasution, 61, a monetar
Published 23 Jul, 2010 12:00am
3M profit rises

3M profit rises

Diversified US manufacturer 3M Co reported earnings that beat Wall Street's expectations and raised its forecast for the year, boosted by strong demand in key emerging markets. The company, which makes products ranging from Post-It notes to films used in
Published 23 Jul, 2010 12:00am
3M profit rises

3M profit rises

Diversified US manufacturer 3M Co reported earnings that beat Wall Street's expectations and raised its forecast for the year, boosted by strong demand in key emerging markets. The company, which makes products ranging from Post-It notes to films used in
Published 23 Jul, 2010 12:00am
Japan warns against excessive yen rises

Japan warns against excessive yen rises

Japan warned on Thursday against excessive rises in the yen, as the currency hovers near a seven-month high against the dollar on worries about the US economic outlook. The dollar hit a seven-month low of 86.27 yen last week, putting the focus on whether
Published 23 Jul, 2010 12:00am
UPS quarterly profit soars 90 percent, shares up

UPS quarterly profit soars 90 percent, shares up

United Parcel Service Inc, the world's largest package delivery company, raised its outlook on Thursday on higher ground and export volume, sending shares up 3.5 percent in premarket trading. UPS surpassed Wall Street's expectations for its second- quarte
Published 23 Jul, 2010 12:00am
UPS quarterly profit soars 90 percent, shares up

UPS quarterly profit soars 90 percent, shares up

United Parcel Service Inc, the world's largest package delivery company, raised its outlook on Thursday on higher ground and export volume, sending shares up 3.5 percent in premarket trading. UPS surpassed Wall Street's expectations for its second- quarte
Published 23 Jul, 2010 12:00am
Canada's retail sales slide

Canada's retail sales slide

Canadian retail sales unexpectedly fell in May for the second straight month, led by a drop in building material and garden equipment supplies. Total retail sales slid 0.2 percent in May from April, Statistics Canada said on Thursday. Excluding the auto s
Published 23 Jul, 2010 12:00am
'China will keep working to boost consumption'

'China will keep working to boost consumption'

China will "improve" policy measures to stimulate domestic consumption in the second half of 2010 while trying to balance growth and inflationary pressures, Premier Wen Jiabao said on Thursday. China's growth cooled in the second quarter, but top official
Published 23 Jul, 2010 12:00am
Caterpillar profit tops view, raises forecast

Caterpillar profit tops view, raises forecast

Caterpillar Inc reported a stronger-than-expected quarterly profit and raised its full-year outlook, citing sales growth in emerging markets, especially from customers in mining and energy. The world's largest maker of construction and mining equipment sa
Published 23 Jul, 2010 12:00am
US airline results affirm recovery on track

US airline results affirm recovery on track

US airline results on Thursday provided more evidence that the industry recovery is on track, driving shares higher, but the bumpy economy remains a concern. Continental Airlines Inc, JetBlue Airways, and Alaska Air Group all handily beat Wall Street expe
Published 23 Jul, 2010 12:00am
Billions needed to rebuild Iraqi industry: minister

Billions needed to rebuild Iraqi industry: minister

Improved security is allowing Iraq to rebuild its shattered industry but up to seven billion dollars is needed to help the sector recover from years of war and sanctions, the industry minister told AFP. "At the present estimate, I would think it will requ
Published 23 Jul, 2010 12:00am
China behind two-thirds of all fake EU customs seizures

China behind two-thirds of all fake EU customs seizures

China was the source of 64 percent of all counterfeit goods seized at European Union borders last year while 73 percent of all fake medicines impounded came from the UAE, a EU report said Thursday. From 118 million articles intercepted at ports and other
Published 23 Jul, 2010 12:00am
US home sales at three-month low, jobless claims spike

US home sales at three-month low, jobless claims spike

Sales of previously owned US homes hit a three-month low in June while new claims for jobless benefits surged last week, the latest indications that the economy is on the ropes. Another report on Thursday showed an index of leading indicators, a gauge of
Published 23 Jul, 2010 12:00am
Honda strike in China ends with pay hike

Honda strike in China ends with pay hike

Striking workers at a factory in China that supplies Honda Motor Co went back to work Thursday after agreeing to a 47 percent pay hike, an employee said. The strike at the Atsumitec Co factory in the southern city of Foshan in Guangdong province near Hong
Published 23 Jul, 2010 12:00am
Obama signs 'improper payments' legislation

Obama signs 'improper payments' legislation

President Barack Obama on Thursday signed legislation intended to slash by $50 billion the US taxpayer money improperly paid to dead people, fugitives and those in jail who should not be getting benefits. But that goal, if achieved, would not even halve t
Published 23 Jul, 2010 12:00am
Emaar records 122 percent growth

Emaar records 122 percent growth

Dubai-based real estate giant Emaar Properties, builder of the world's tallest tower posted on Thursday a 122 percent growth in net profits in the first half of 2010 compared to the same period last year. Emaar posted 746 million dirhams in net operating
Published 23 Jul, 2010 12:00am
Emaar records 122 percent growth

Emaar records 122 percent growth

Dubai-based real estate giant Emaar Properties, builder of the world's tallest tower posted on Thursday a 122 percent growth in net profits in the first half of 2010 compared to the same period last year. Emaar posted 746 million dirhams in net operating
Published 23 Jul, 2010 12:00am
Hungary signals IMF deal over; EU goal in question

Hungary signals IMF deal over; EU goal in question

Hungary's prime minister signalled on Thursday he would not renew a safety net with the IMF and would row back on a commitment to cut the budget deficit to European Union-prescribed levels next year. In the latest of a series of comments that have confoun
Published 23 Jul, 2010 12:00am
Eurozone consumer confidence hits 26-month high

Eurozone consumer confidence hits 26-month high

Consumer confidence in the eurozone climbed to a 26-month high in July as the currency area is shaking off the debt crisis, figures showed on Thursday, but its longer-term outlook remains pessimistic. The indicator rose to -14.1 in the 16-country currency
Published 23 Jul, 2010 12:00am
Nokia second quarter profits drop

Nokia second quarter profits drop

Nokia reported a sharp drop in second-quarter profits on Thursday and forecast a weak third quarter, increasing the pressure on embattled chief executive Olli-Pekka Kallasvuo. The firm, which makes every third mobile phone sold in the world, was rocked by
Published 23 Jul, 2010 12:00am
Nokia second quarter profits drop

Nokia second quarter profits drop

Nokia reported a sharp drop in second-quarter profits on Thursday and forecast a weak third quarter, increasing the pressure on embattled chief executive Olli-Pekka Kallasvuo. The firm, which makes every third mobile phone sold in the world, was rocked by
Published 23 Jul, 2010 12:00am
World Bank head cites uncertain, fragile recovery

World Bank head cites uncertain, fragile recovery

World Bank President Robert Zoellick said Wednesday that the global economic crisis pushed 60 million people into poverty and warned that the recovery is still fragile and uncertain in some areas. Zoellick spoke at a news conference where he announced agr
Published 23 Jul, 2010 12:00am
Further easing hinges on jobs: Bernanke

Further easing hinges on jobs: Bernanke

The Federal Reserve may try to push borrowing costs even lower if the job market continues to languish, Fed Chairman Ben Bernanke said on Thursday, offering a hint of what might trigger additional monetary easing. After three quarters of solid growth, the
Published 23 Jul, 2010 12:00am
Asian bonds weaken; NACF gains on debut

Asian bonds weaken; NACF gains on debut

South Korea's NACF bond gained on its trading debut in Asia on Thursday, underpinned by strong investor demand, while the overall market weakened after downbeat economic outlook from the US Federal Reserve. The broad Asia ex-Japan iTraxx investment-grade
Published 23 Jul, 2010 12:00am
Asian bonds weaken; NACF gains on debut

Asian bonds weaken; NACF gains on debut

South Korea's NACF bond gained on its trading debut in Asia on Thursday, underpinned by strong investor demand, while the overall market weakened after downbeat economic outlook from the US Federal Reserve. The broad Asia ex-Japan iTraxx investment-grade
Published 23 Jul, 2010 12:00am
Treasuries rally

Treasuries rally

US Treasuries rallied on Wednesday, with two-year yields at record lows, after Federal Reserve Chairman Ben Bernanke said the economy faced "unusually uncertain" prospects, suggesting low inflation and low interest rates for a long time.
Published 23 Jul, 2010 12:00am
Treasuries rally

Treasuries rally

US Treasuries rallied on Wednesday, with two-year yields at record lows, after Federal Reserve Chairman Ben Bernanke said the economy faced "unusually uncertain" prospects, suggesting low inflation and low interest rates for a long time.
Published 23 Jul, 2010 12:00am
Nikkei stays down

Nikkei stays down

Japan's Nikkei inched down for a fifth straight day of losses and its lowest close in three weeks on Thursday, hurt by a stronger yen after Federal Reserve Chairman Ben Bernanke expressed concern about the US economy. Market players are awaiting the resul
Published 23 Jul, 2010 12:00am
Dow down 1.1 percent, S&P 1.3 percent, Nasdaq 1.6 percent

Dow down 1.1 percent, S&P 1.3 percent, Nasdaq 1.6 percent

Federal Reserve Chairman Ben Bernanke's dour assessment of the US recovery hit US stocks on Wednesday, as his comment that the economy faced "unusually uncertain" prospects rattled investors. Stocks tumbled after Bernanke acknowledged the labour market's
Published 23 Jul, 2010 12:00am
European CDS widen

European CDS widen

European corporate credit default swap spreads widened on Thursday, tracking stocks lower, after US Federal Reserve chairman Ben Bernanke inflamed growing fears about the pace of the US economic recovery. By 0634 GMT, the investment-grade Markit iTraxx Eu
Published 23 Jul, 2010 12:00am
European CDS widen

European CDS widen

European corporate credit default swap spreads widened on Thursday, tracking stocks lower, after US Federal Reserve chairman Ben Bernanke inflamed growing fears about the pace of the US economic recovery. By 0634 GMT, the investment-grade Markit iTraxx Eu
Published 23 Jul, 2010 12:00am
European shares sharply up

European shares sharply up

European shares surged to a one-week closing high on Thursday on strong earnings results and soothing macroeconomic numbers, although their medium-term outlook appeared bearish, analysts said. The FTSEurofirst 300 index of top European shares finished 2.1
Published 23 Jul, 2010 12:00am
Seoul shares slip

Seoul shares slip

Seoul shares fell on Thursday as blue chip technology stocks such as Samsung Electronics slid amid mounting concerns a slowing global recovery may lead to a slump in sales. The Korea Composite Stock Price Index closed down 0.76 percent at 1,735.53 points.
Published 23 Jul, 2010 12:00am
Most Southeast Asian stocks lower

Most Southeast Asian stocks lower

Most Southeast Asian stock markets fell on Thursday, fretting over a downbeat economic view from the US Federal Reserve, and weaknesses in energy prices dampened sentiment in the sector across the region. Malaysia eased 0.4 percent, retreating from a two-
Published 23 Jul, 2010 12:00am
Indian shares rise to 2-1/2 year high

Indian shares rise to 2-1/2 year high

Indian shares gained 0.8 percent on Thursday to their highest close in nearly 2-1/2 years, tracking European markets which reversed early losses as banks in the continent gained ahead of their stress test results. Investor focus remains on the results of
Published 23 Jul, 2010 12:00am
Shanghai and Hong Kong stocks rally

Shanghai and Hong Kong stocks rally

Shanghai shares rallied on Thursday, lifting the Hong Kong market as rising steel prices boosted metal shares while property firms rose on reports that a property tax would not be levied before 2012. Bucking the broad weakness in many other Asian markets
Published 23 Jul, 2010 12:00am
Most Middle East markets lower

Most Middle East markets lower

Kuwait Finance House hit a two-month high on Thursday after reporting above-forecast earnings, helping the country's index rise for a third day in four. Middle East markets remained in a sideways trend, with little to draw in buyers amid uncertainty over
Published 23 Jul, 2010 12:00am
FTSE closes above 5,300 for first time since May 18

FTSE closes above 5,300 for first time since May 18

Britain's top share index jumped 1.9 percent on Thursday, boosted by strong banks ahead of Friday's European stress test results, and by firmer miners and oils as US stocks rallied on earnings and data. At the close the FTSE 100 was up 99.17 points at 5,3
Published 23 Jul, 2010 12:00am
Key dollar rate falls to two-month lows

Key dollar rate falls to two-month lows

Dollar funding costs eased on Thursday with the three-month interbank rate falling below 0.5 percent for the first time in two months and gains in Euro dollar futures implying further declines in the near term. These moves came a day after Fed Chairman Be
Published 23 Jul, 2010 12:00am
Dollar/yuan onshore forwards spread narrows

Dollar/yuan onshore forwards spread narrows

The spread between key onshore and offshore dollar/yuan forwards dropped to nearly flat on Thursday, indicating some success in the People's Bank of China's efforts to dampen speculation in yuan appreciation. The Chinese central bank had fixed a series of
Published 23 Jul, 2010 12:00am
Dollar falls versus yen in Asia

Dollar falls versus yen in Asia

The dollar slid towards a recent seven-month low versus the yen on Thursday after Federal Reserve Chairman Ben Bernanke expressed concern about the US economy but steered clear of hinting about further easing as some had hoped. The euro, which lost sharpl
Published 23 Jul, 2010 12:00am
Dollar falls broadly in London

Dollar falls broadly in London

The US dollar fell broadly on Thursday as better-than-forecast European economic data boosted equities and spurred appetite for risk, with a drop in US lending rates putting additional pressure on the currency. The dollar had earlier fallen close to a sev
Published 23 Jul, 2010 12:00am
Early trade: Euro rallies versus dollar

Early trade: Euro rallies versus dollar

The euro rose more than 1 percent against the dollar on Thursday after data on the US housing market and the eurozone manufacturing and services sectors revived investors' appetite for risk. The yen erased most early gains versus the dollar and dropped sh
Published 23 Jul, 2010 12:00am
Euro plummets in New York

Euro plummets in New York

The euro fell sharply against the dollar while the yen rallied on Wednesday after Federal Reserve Chairman Ben Bernanke expressed concern about the US economy and dampened risk appetite. Bernanke, in testimony prepared for delivery to the Senate Banking C
Published 23 Jul, 2010 12:00am
Bangladesh's interbank forex, interest rates

Bangladesh's interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Thursday. 69.40/69.42 (previous 69.40/69.4010). Call Money Rates: 2.50-3.00 percent (previous 2.50-3.00 percent).
Published 23 Jul, 2010 12:00am
Indian rupee gains

Indian rupee gains

The Indian rupee rose for the second straight day on Thursday boosted by the dollar's sharp losses against major currencies and a rebound in the domestic sharemarket. The partially convertible rupee closed at 47.1250/1350 per dollar, off the day's low of
Published 23 Jul, 2010 12:00am
Won, rupiah fall

Won, rupiah fall

The South Korean won and Indonesian rupiah fell in tandem with regional stocks on Thursday after comments by Federal Reserve chief Ben Bernanke stoked concerns about the US economy. The yen was near a 7-1/2-month high and Asian stocks slid after Bernanke'
Published 23 Jul, 2010 12:00am
Swiss franc rise versus euro

Swiss franc rise versus euro

The Swiss franc rose to its strongest in a week against the euro on Thursday, lifted by a rise in risk aversion after the Federal Reserve's chairman described the outlook for the US economy as "uncertain." The franc was up 0.2 percent against the euro com
Published 23 Jul, 2010 12:00am
Sterling rises versus dollar

Sterling rises versus dollar

Sterling rallied against the dollar on Thursday after strong UK retail sales data suggested that the economy is improving, while eurozone figures boosted demand for riskier currencies. The dollar suffered broadly after Federal Reserve Chairman Ben Bernank
Published 23 Jul, 2010 12:00am
Australian and New Zealand dollars firm

Australian and New Zealand dollars firm

The Australian and New Zealand dollars held their ground on Thursday with investors wary of making any big moves before the release of the results for the stress test of European banks later this week. Europe's bank supervisors are set to publish the resu
Published 23 Jul, 2010 12:00am
Ponting taken to task for toss decision: media

Ponting taken to task for toss decision: media

Skipper Ricky Ponting's decision to bat first with disastrous results for Australia in the second Headingley Test against Pakistan was roundly condemned by the Australian press on Thursday. The Australians were routed for just 88 on the first day for thei
Published 23 Jul, 2010 12:00am
Ponting leads Australia revival

Ponting leads Australia revival

Ricky Ponting led Australia's recovery in the second and final Test against Pakistan at Headingley here on Thursday. Australia were 136 for two in their second innings, just 34 behind, when bad light forced an early close on the second day. Ponting, the A
Published 23 Jul, 2010 12:00am
Japan World Cup bid 'very balanced': FIFA

Japan World Cup bid 'very balanced': FIFA

A FIFA team on Thursday praised Japan's 2022 World Cup bid for its balance between old and new, environmental awareness and a high-tech approach, including a plan for 3-D match telecasts. The group of inspectors from football's governing body made the com
Published 23 Jul, 2010 12:00am
Contador takes giant leap towards third Tour win

Contador takes giant leap towards third Tour win

Spaniard Alberto Contador took a huge step towards a third yellow jersey triumph after matching a series of attacks from Andy Schleck on the Tour de France 17th stage Thursday. Schleck began the final climbing stage of this year's race, a 174km ride from
Published 23 Jul, 2010 12:00am
Marathon man Isner outlasts Muller

Marathon man Isner outlasts Muller

John Isner needed 33 aces and two and a half hours, outlasting Gilles Muller at the Atlanta Tennis Championships as the American registered his first win since making history at Wimbledon. Marathon man Isner beat an inspired Muller 4-6, 7-6 (8/6), 7-6 (9/
Published 23 Jul, 2010 12:00am
Muralitharan gets presidential send-off

Muralitharan gets presidential send-off

World bowling record holder Muttiah Muralitharan was given a presidential send-off on Thursday after he retired with 800 wickets in the bag. Sri Lankan President Mahinda Rajapakse flew in from the capital, Colombo, to the southern coastal town of Galle to
Published 23 Jul, 2010 12:00am
Murali bows out after record 800 wickets; Sri Lanka win

Murali bows out after record 800 wickets; Sri Lanka win

World bowling record-holder Muttiah Muralitharan retired with 800 Test wickets on Thursday as Sri Lanka thumped India by 10 wickets in their first Test. The off-spinner had last man Pragyan Ojha caught at slip by Mahela Jayawardene to reach the landmark a
Published 23 Jul, 2010 12:00am
Gulf storm threatens US efforts to plug spill

Gulf storm threatens US efforts to plug spill

BP Plc oil spill workers in the Gulf of Mexico prepared for a possible evacuation on Thursday as a brewing tropical storm threatened more delays in efforts to end the environmental disaster. Some oil-skimming ships came ashore as Gulf seas grew choppy and
Published 23 Jul, 2010 12:00am
Two Americans killed in helicopter crash

Two Americans killed in helicopter crash

Nato forces say a helicopter has crashed in southern Afghanistan, killing 2 US service members who were aboard. Nato says it is investigating the cause of the crash. Spokeswoman Lieutenant Commander Katie Kendrick says hostile fire has not been ruled out.
Published 23 Jul, 2010 12:00am
US drills pose danger to region: North Korea

US drills pose danger to region: North Korea

North Korea on Thursday denounced planned US-South Korean military drills as a grave danger to the region and criticised new US sanctions as "hostile", urging Washington to focus instead on restarting nuclear weapons talks. The comments by a North Korean
Published 23 Jul, 2010 12:00am
US ends ban on ties with Indonesian special forces

US ends ban on ties with Indonesian special forces

Washington said on Thursday it was dropping a ban on ties with Indonesia's special forces, imposed over human rights abuses in the 1990s, a move that may eventually allow combat training of the once-notorious unit. The decision, announced during a visit b
Published 23 Jul, 2010 12:00am
US slaps sanctions on Afghan Taliban leaders

US slaps sanctions on Afghan Taliban leaders

The United States targeted key leaders of Afghanistan's Taliban with new sanctions, a move that could complicate Afghan efforts to reconcile with insurgents. The action by the Treasury Department on Thursday will freeze the insurgents' assets, ban travel
Published 23 Jul, 2010 12:00am
Abbas warns Fatah to get organised or die

Abbas warns Fatah to get organised or die

Palestinian President Mahmoud Abbas has warned the Fatah party he leads that its days are numbered unless it puts its house in order. His remarks underscore the troubles facing a party in decline since the death of Yasser Arafat, its co-founder, in 2004.
Published 23 Jul, 2010 12:00am
CIA announces new head of spy service

CIA announces new head of spy service

The CIA announced Wednesday it was appointing an experienced spy as the new head of its vast intelligence network, the National Clandestine Service. John Bennett, who joined the Central Intelligence Agency in 1981 after service in the US Marine Corps, wil
Published 23 Jul, 2010 12:00am
South Africa's Tutu to retire from public duties

South Africa's Tutu to retire from public duties

South African Nobel Peace Prize laureate Desmond Tutu, who became a global figure for using his church pulpit to help bring down apartheid, said on Thursday he would retire from public duties later this year. "The time has now come to slow down," Tutu sai
Published 23 Jul, 2010 12:00am
IMF cancels Haiti debt, approves new $60 million loan

IMF cancels Haiti debt, approves new $60 million loan

International Monetary Fund member countries on Wednesday cancelled the $268 million debt Haiti owed to the IMF and approved a new loan worth $60 million to boost international reserves in the earthquake-hit nation. The IMF said in a statement that both s
Published 23 Jul, 2010 12:00am
OSCE to send police monitors to Kyrgyzstan

OSCE to send police monitors to Kyrgyzstan

Eur-ope's main security body on Thursday backed plans to send 52 unarmed police officers to help restore peace in southern Kyrgyzstan, a month after the worst bloodshed in the Central Asian state's modern history. The Organisation for Security and Co-oper
Published 23 Jul, 2010 12:00am
Ban plans meeting to end disarmament deadlock

Ban plans meeting to end disarmament deadlock

UN Secretary-General Ban Ki-moon is inviting nations to a high-level meeting in September on how to revive stalled international disarmament talks, UN diplomats and officials said on Wednesday. The meeting, scheduled for September 24 during the annual Gen
Published 23 Jul, 2010 12:00am
Rocket attack kills three in Baghdad Green Zone: US

Rocket attack kills three in Baghdad Green Zone: US

A rocket attack on Baghdad's international Green Zone on Thursday killed two Ugandans and a Peruvian working for a US security contractor hired to protect US facilities in Iraq, the US embassy said. The fortified Green Zone lies on the bank of the Tigris
Published 23 Jul, 2010 12:00am
Sanctions against Iran endorsed

Sanctions against Iran endorsed

The European Union reached agreement Thursday on a package of sanctions against Iran which targets Tehran's energy sector over its refusal to halt sensitive nuclear work, an EU diplomat said. Ambassadors from the 27 EU member states met in Brussels to end
Published 23 Jul, 2010 12:00am
New York cotton up on tight certified stocks

New York cotton up on tight certified stocks

Cotton futures ended higher Thursday on investor buying as tight deliverable supplies gave nearby months a boost although players were still fretting over the fragile state of global economic recovery, brokers said. The December cotton contract increased
Published 23 Jul, 2010 12:00am
US copper at three-week top

US copper at three-week top

US copper futures closed at their highest since late June on Wednesday, driven by strong technical momentum and indications of a tighter supply/demand market balance. Copper for September delivery surged 9.15 cents, or 3 percent, to settle at $3.0930 per
Published 23 Jul, 2010 12:00am
Shanghai copper up

Shanghai copper up

London copper reversed early losses on Thursday, following a 3 percent rally in the previous session but Shanghai lagged the international market prompting the profitable arbitrage to snap shut. The premium for Shanghai's third month copper contract to th
Published 23 Jul, 2010 12:00am
Copper hits two-month high

Copper hits two-month high

Copper hit its highest in more than two months on Thursday, as a weaker dollar and improving fundamentals supported prices, but gains were capped by concerns about US economic recovery and metals demand. Benchmark copper for three-months delivery on the L
Published 23 Jul, 2010 12:00am
Malaysian palm oil up 2.52 percent

Malaysian palm oil up 2.52 percent

Malaysian crude palm oil gained 2.52 percent on Thursday after hitting two and a half month high on concern that rains may slow palm oil output and as gains in crude oil as well as soyaoil offered support. A brewing La Nina weather pattern which brings he
Published 23 Jul, 2010 12:00am
New York coffee lower, sugar up

New York coffee lower, sugar up

Arabica coffee futures changed direction to close down for the fourth straight day on Wednesday, as the charts weakened and neither producers nor roasters showed much interest. Sugar firmed and cocoa continued its downward. Arabica coffee changed directio
Published 23 Jul, 2010 12:00am
Tokyo rubber futures tumble

Tokyo rubber futures tumble

Key Tokyo rubber futures fell to a six-week low on Thursday as a rise in the yen and worsening chart outlook hurt investor sentiment already soured by increasing supply in producing countries. The key Tokyo Commodity Exchange rubber contract for December
Published 23 Jul, 2010 12:00am
US soyabeans stay up

US soyabeans stay up

US soyabean futures on the Chicago Board of Trade climbed for a second day on Wednesday, buoyed by strength in wheat and corn along with concerns about heat in the Mississippi River Delta soya region, traders said. Soyameal closed higher but soyaoil fell,
Published 23 Jul, 2010 12:00am
London sugar rises

London sugar rises

Liffe October white sugar futures ended $17.50 higher at $559.70 per tonne on Thursday. Nearby supplies remain tight, helping to widen the front month's premium to December. Liffe September robusta coffee settled $19 higher at $1,691 per tonne. ICE arabic
Published 23 Jul, 2010 12:00am
Oil hits 11-week high above $79

Oil hits 11-week high above $79

Oil jumped more than 3 percent to a 11-week high above $79 a barrel on Thursday as a potential tropical storm threatened energy installations in the Gulf of Mexico and strong earnings boosted investor sentiment. Some companies operating in US waters off t
Published 23 Jul, 2010 12:00am
US gold flat

US gold flat

US gold futures ended flat on Wednesday as market consolidated gains a day after a bullish technical reversal, but Federal Reserve Chairman Ben Bernanke's comments sent prices lower after COMEX settlement. COMEX August gold futures settles up 10 cents at
Published 23 Jul, 2010 12:00am
Gold slips in Asia

Gold slips in Asia

Gold slipped more than half a percent on Thursday and could revisit its weakest level in two months as investors sold bullion to cover equities losses ahead of Europe's bank stress test results this week. Gold has fallen more than 6 percent since hitting
Published 23 Jul, 2010 12:00am
Gold pops back above $1,200 in European trade

Gold pops back above $1,200 in European trade

Gold rose briefly back above $1,200 an ounce on Thursday as financial markets rallied broadly, with US stocks jumping 1 percent at the open, European shares higher and oil prices climbing 2.3 percent. The precious metal quickly slipped back below that lev
Published 23 Jul, 2010 12:00am
US MIDDAY: sugar jumps

US MIDDAY: sugar jumps

Raw sugar prices hit their highest level in three weeks early on Thursday, breaking through key resistance, with shipment delays in Brazil helping to tighten nearby supplies. Coffee prices also advanced while cocoa edged lower. October raw sugar on ICE br
Published 23 Jul, 2010 12:00am
US MIDDAY: corn lower

US MIDDAY: corn lower

Corn futures turned lower in midday trading at the Chicago Board of Trade on Thursday as traders locked in profits from early grains. At 11:06 am CDT (1606 GMT), CBOT September corn was down 1-3/4 cents at $3.78 a bushel.
Published 23 Jul, 2010 12:00am
US MIDDAY: wheat and soya up

US MIDDAY: wheat and soya up

Wheat futures at the Chicago Board of Trade surged to their highest level since June 2009 early on Thursday amid fears of drought in Europe cutting crop production there, traders said. Soyabean futures also were strong early amid better-than-expected week
Published 23 Jul, 2010 12:00am
US MIDDAY: copper soars

US MIDDAY: copper soars

US copper futures settled up at a two-month top early on Thursday, with a supportive backdrop of improving fundamentals and strong technical momentum driving the advance, analysts said. Copper for September delivery jumped 7.15 cents, or 2.3 percent, to f
Published 23 Jul, 2010 12:00am
US MIDDAY: gold briefly rises

US MIDDAY: gold briefly rises

Gold rose briefly above $1,200 an ounce early on Thursday as strong US corporate earnings fuelled a cross-asset rally, and lingering sovereign credit risk should provide underlying support to the metal. Gold climbed as the Dow Jones industrial average ral
Published 23 Jul, 2010 12:00am
Fehmida for adopting political approach against terrorism

Fehmida for adopting political approach against terrorism

Dr Fehmida Mirza, Speaker National Assembly, underlined the need for adopting a comprehensive political approach and collective efforts against terrorism, which had undermined regional interests. She said this in her meeting with Ali Ardeshir Larijani, Sp
Published 23 Jul, 2010 12:00am
Unavailability of railways engines hits products' movement: PSO

Unavailability of railways engines hits products' movement: PSO

The cash-strapped Pakistan State Oil (PSO) has expressed serious concern over unavailability of railway engines, which has adversely affected movement of petroleum products to railway fed areas of power sector customers, Business Recorder has learn
Published 23 Jul, 2010 12:00am
COMSATS-CIIT, LU launch dual-degree programme

COMSATS-CIIT, LU launch dual-degree programme

COMSATS Institute of Information Technology (CIIT) is going to launch a Dual Degree programme (DDP) in collaboration with Lancaster University (LU), UK under which both the institutions will award degrees to the students after completing four year studies
Published 23 Jul, 2010 12:00am
'Gilgit-Baltistan budget to be released soon'

'Gilgit-Baltistan budget to be released soon'

Finance Minister Gilgit-Baltistan (GB) Muhammad Ali Akhtar on Thursday said the budget, for the region, would be released by the end of this month or in the first week of August. In a telephonic conversation with APP he said the GB government is in touch
Published 23 Jul, 2010 12:00am
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