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Print - 2010-08-25
14 die in Nepal tourist plane crash

14 die in Nepal tourist plane crash

A small plane headed for the Everest region crashed in bad weather near the Nepalese capital on Tuesday, killing all 14 people on board, including four Americans, a Japanese and a British national. The Agni Air plane was returning to Kathmandu after poor
Published 25 Aug, 2010 12:00am
Shopkeepers fined for overcharging

Shopkeepers fined for overcharging

The price control magistrates of the City District Government Lahore on Tuesday inspected 1,082 shops and held 259 shopkeepers guilty of overcharging and selling low quality products. According to a city government's spokesperson, the magistrates fined 21
Published 25 Aug, 2010 12:00am
Shahbaz condoles MNA's mother's death

Shahbaz condoles MNA's mother's death

Punjab Chief Minister, Shahbaz Sharif has expressed deep sense of sorrow and grief over sad demise of mother of Member National Assembly Humair Hayat Khan Rokhari. In his condolence message the Chief Minister prayed that may Allah Almighty rest the depart
Published 25 Aug, 2010 12:00am
Profit after tax of FABL increased

Profit after tax of FABL increased

The profit after tax of Faysal Bank Limited has increased to Rs 1,733.779 million in the half year period that ended on June 30 2010 as compared to Rs 467.072 million earned in the corresponding period in 2009. The board of directors of the bank in a meet
Published 25 Aug, 2010 12:00am
Profit after tax of FABL increased

Profit after tax of FABL increased

The profit after tax of Faysal Bank Limited has increased to Rs 1,733.779 million in the half year period that ended on June 30 2010 as compared to Rs 467.072 million earned in the corresponding period in 2009. The board of directors of the bank in a meet
Published 25 Aug, 2010 12:00am
JCR-VIS assigns 5 Star rating to Faysal Fund

JCR-VIS assigns 5 Star rating to Faysal Fund

Faysal Asset Management Ltd (FAML) has announced that Faysal Balanced Growth Fund is the only fund in Mutual Fund Association of Pakistan's Balanced Funds category to have been assigned a 5 Star rating for 2010-2011 by JCR-VIS based on its best performanc
Published 25 Aug, 2010 12:00am
JCR-VIS assigns 5 Star rating to Faysal Fund

JCR-VIS assigns 5 Star rating to Faysal Fund

Faysal Asset Management Ltd (FAML) has announced that Faysal Balanced Growth Fund is the only fund in Mutual Fund Association of Pakistan's Balanced Funds category to have been assigned a 5 Star rating for 2010-2011 by JCR-VIS based on its best performanc
Published 25 Aug, 2010 12:00am
Intel, Nokia joint innovation centre inaugurated

Intel, Nokia joint innovation centre inaugurated

lntel Corporation, Nokia and the University of Oulu officially opened the Intel and Nokia Joint Innovation Centre on Tuesday. It will employ about two dozen R&D professionals and become the latest member of Intel's European Research Network, Intel labs Eu
Published 25 Aug, 2010 12:00am
JCR-VIS reaffirms JDW Sugar Mills ratings

JCR-VIS reaffirms JDW Sugar Mills ratings

JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the entity ratings of JDW Sugar Mills Limited (JDW) at 'A-/A-2' (single A minus/A-Two) and rating of the company's Rs 1.7bn TFC issue at 'A' (single A). Outlook on the assigned ratings is 'Sta
Published 25 Aug, 2010 12:00am
JCR-VIS reaffirms JDW Sugar Mills ratings

JCR-VIS reaffirms JDW Sugar Mills ratings

JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the entity ratings of JDW Sugar Mills Limited (JDW) at 'A-/A-2' (single A minus/A-Two) and rating of the company's Rs 1.7bn TFC issue at 'A' (single A). Outlook on the assigned ratings is 'Sta
Published 25 Aug, 2010 12:00am
One killed, six injured as bus overturns

One killed, six injured as bus overturns

One person was killed and six other injured when a bus overturned while saving a motorcycle rider near Fareed Dogran on Tuesday morning. According to rescue 1122, a bus was heading toward Pakpattan city when it overturned while saving a motorbike rider ne
Published 25 Aug, 2010 12:00am
Al Ghazi declares Rs 7.50 per share interim dividend

Al Ghazi declares Rs 7.50 per share interim dividend

Al Ghazi Tractors profit after tax increased to Rs 997.805 million in the half year period ended on June 30, 2010 as compared to Rs 878.467 million earned in the corresponding period in 2009. The company's earning per share increased to Rs 23.24 in the pe
Published 25 Aug, 2010 12:00am
Al Ghazi declares Rs 7.50 per share interim dividend

Al Ghazi declares Rs 7.50 per share interim dividend

Al Ghazi Tractors profit after tax increased to Rs 997.805 million in the half year period ended on June 30, 2010 as compared to Rs 878.467 million earned in the corresponding period in 2009. The company's earning per share increased to Rs 23.24 in the pe
Published 25 Aug, 2010 12:00am
Askari Bank earns Rs 714 million profit

Askari Bank earns Rs 714 million profit

The profit after tax of Askari Bank increased to Rs 714.221 million in the half-year period ended on June 30, 2010 as compared to Rs 585.231 million earned in the corresponding period in 2009. The board of directors of the bank in its meeting on Tuesday d
Published 25 Aug, 2010 12:00am
Askari Bank earns Rs 714 million profit

Askari Bank earns Rs 714 million profit

The profit after tax of Askari Bank increased to Rs 714.221 million in the half-year period ended on June 30, 2010 as compared to Rs 585.231 million earned in the corresponding period in 2009. The board of directors of the bank in its meeting on Tuesday d
Published 25 Aug, 2010 12:00am
Imported relief goods: authorities directed to ensure clearance

Imported relief goods: authorities directed to ensure clearance

Munir Qureshi, Member Customs during his visit to Karachi directed the customs authorities to ensure the clearance of imported relief goods on immediate basis. In a statement issued on Tuesday, the Member Customs has reviewed the existing procedure for th
Published 25 Aug, 2010 12:00am
US condemns suicide attacks in Wana

US condemns suicide attacks in Wana

The US embassy in Pakistan on Tuesday strongly condemned the suicide and bomb attacks in Wana, Parachinar, and Peshawar on August 23, which killed and injured several innocent people. "These attacks are especially brutal as so many people in the region ar
Published 25 Aug, 2010 12:00am
AHI introduces Index Tracker Fund

AHI introduces Index Tracker Fund

Arif Habib Investments (AHI) is introducing 'AH Dow Jones Safe Pakistan Titans 15 Index Fund' (AHDJPF). It is the first and only Pakistani fund structured on an index by an international index provider; Dow Jones Indexes. The fund is based on the Dow Jone
Published 25 Aug, 2010 12:00am
AHI introduces Index Tracker Fund

AHI introduces Index Tracker Fund

Arif Habib Investments (AHI) is introducing 'AH Dow Jones Safe Pakistan Titans 15 Index Fund' (AHDJPF). It is the first and only Pakistani fund structured on an index by an international index provider; Dow Jones Indexes. The fund is based on the Dow Jone
Published 25 Aug, 2010 12:00am
Over 6,000 students become ACCA affiliates

Over 6,000 students become ACCA affiliates

Results from the latest examinations of ACCA show that more than 6,000 students around the world successfully completed their final papers to become affiliates and moved closer to the membership of the global body for professional accountants.
Published 25 Aug, 2010 12:00am
PEF designs CSVS to ensure transparency

PEF designs CSVS to ensure transparency

Punjab Education Foundation (PEF) has designed "Centralised Students' Verification System" (CSVS) to ensure transparent partnership with the partner schools. It will also facilitate the partner schools to remotely access their students' data through inter
Published 25 Aug, 2010 12:00am
Qubo Saeed Khan and two UCs inundated

Qubo Saeed Khan and two UCs inundated

Due to breaches in Saifullah Magsi Canal near Shahdadkot, Qubo Saeed Khan and its two Union Councils were inundated on Tuesday. Thousands of people were stranded in Qubo Saeed Khan and the two UCs - Hazarwah and Dago Dero. The provincial irrigation depart
Published 25 Aug, 2010 12:00am
Rescue, relief activities may continue till October 30

Rescue, relief activities may continue till October 30

Rescue and relief activities in flood-hit areas are likely to continue till October 30, 2010, according to sources in National Disaster Management Authority (NDMA). Rescue operations are now limited to Sindh, Balochistan, Kalam in Khyber Pakhtunkhwa (KP)
Published 25 Aug, 2010 12:00am
NetSol actively collecting donations

NetSol actively collecting donations

NetSol Technologies has activated all its offices in Pakistan, USA, UK, China and Australia for cash donations to help the government in its relief work for flood-affected people. NetSol Technologies Chairman and Chief Executive Officer, Salim Ghauri said
Published 25 Aug, 2010 12:00am
Denmark donates $9.5 million

Denmark donates $9.5 million

Danish government has announced a donation of $9.5 million humanitarian emergency aid for the flood affectees of Pakistan. This places Denmark among the international donors that have given the most per capita in emergency aid following the natural disast
Published 25 Aug, 2010 12:00am
Fishermen help scouring for flood survivors

Fishermen help scouring for flood survivors

Fishermen are helping scour the flooded countryside of the southern province of Sindh for people marooned in the deluge and now running out of food. More than three weeks after torrential monsoon rains fell over the upper Indus river basin, many people ac
Published 25 Aug, 2010 12:00am
Super Flood at Kotri Barrage

Super Flood at Kotri Barrage

River Indus at Kotri Barrage is flowing at Super Flood and it would remain the same for further few days, irrigation officials said on Tuesday. They said the River Indus at Kotri is in super flood where the upstream is recorded at 9,12,582 cusecs while th
Published 25 Aug, 2010 12:00am
USAID administrator arrives

USAID administrator arrives

Dr Rajiv Shah, Administrator of US Agency for International Development (USAID), arrived in Pakistan Tuesday to consult with the government of Pakistan on the extensive US response to the country's devastating floods.
Published 25 Aug, 2010 12:00am
Sindh government needs over Rs 150 billion

Sindh government needs over Rs 150 billion

Sindh government requires more than Rs 150 billion for rehabilitation of flood affected people and the infrastructure in various districts badly damaged by the natural disaster in the province, Business Recorder has learnt.
Published 25 Aug, 2010 12:00am
More rains, thundershowers predicted

More rains, thundershowers predicted

The meteorological department said on Tuesday that strong monsoon currents are penetrating over upper parts of Pakistan that would cause more rains/thundershowers in parts of the country during next three days (Tuesday - Thursday), as follows:
Published 25 Aug, 2010 12:00am
Nadra activates all its facilities

Nadra activates all its facilities

National Database and Registration Authority (Nadra) has activated all its facilities for the flood victims all over the country to get their duplicate computerised national identity cards (CNICs) free of cost.
Published 25 Aug, 2010 12:00am
50 Japanese troops join relief, rescue operations

50 Japanese troops join relief, rescue operations

The first group of 50 Japanese Ground Self-Defence Force troops has joined the relief and rescue operation of Pakistan army on Tuesday. This group arrived on Sunday in Pakistan to provide relief to people in regions devastated by major floods.
Published 25 Aug, 2010 12:00am
Each family to be paid Rs 5,000 to Rs 10,000

Each family to be paid Rs 5,000 to Rs 10,000

The Central Zakat Council has approved Rs 1150 million as assistance for the flood affected people of Sindh province, it is learnt. Sources told Business Recorder that the Department of Auqaf, Religious Affairs, Zakat and Ushr, Sindh government, ha
Published 25 Aug, 2010 12:00am
Javed Hashmi visits relief camps

Javed Hashmi visits relief camps

Pakistan Muslim League (Nawaz) central leader Makhdoom Javed Hashmi visited a number of relief camps established in Multan city in spite of his critical condition. He met the flood-affected victims and assured them food and other assistance till their ret
Published 25 Aug, 2010 12:00am
'Saudi people resolved to stand by Pakistan'

'Saudi people resolved to stand by Pakistan'

The government and the people of Saudi Arabia are solidly behind the Pakistani people in their present affliction of floods, JI Deputy Secretary General, Dr Farid Ahmed Paracha said after his return from the visit to the holy land, here on Tuesday.
Published 25 Aug, 2010 12:00am
PL&DD department holding consultative session today

PL&DD department holding consultative session today

Punjab Livestock and Dairy Development (PL&DD) Department is holding a consultative session on Wednesday (today) to chalk out a 'post-flood plan' for rehabilitation of 29 per cent displaced and affected livestock population out of the total 19.5 million l
Published 25 Aug, 2010 12:00am
Australian medical task force arrives in Multan

Australian medical task force arrives in Multan

Australian Medical Task Force on Monday arrived in Multan to provide health services to communities affected by the unprecedented floods. The Task Force is in addition to the $35 million worth of flood Australia assistance already provided to Pakistan, sa
Published 25 Aug, 2010 12:00am
ZONG's free phone allows survivors to call for help

ZONG's free phone allows survivors to call for help

ZONG - the fastest growing network of the country has given free handsets, SIMs & EDGE Dongles to International Organisation for Migration (IOM) to provide free phone service to flood victims to get vital information, seek help and access relief services
Published 25 Aug, 2010 12:00am
Chief minister Punjab visits various flood-hit areas of Southern Punjab

Chief minister Punjab visits various flood-hit areas of Southern Punjab

Punjab Chief Minister Muhammad Shahbaz Sharif visited various flood-hit areas of South Punjab on Tuesday. This was revealed in information of DGPR received here on Tuesday. He went to Rahim Yar Khan, Muzaffargarh, and Rajanpur and besides inspecting relie
Published 25 Aug, 2010 12:00am
Women and children more at risk during natural calamities

Women and children more at risk during natural calamities

Speakers of a seminar have stressed special focus on women and children during relief work, as both segments are exposed to exploitation during natural calamities. The Women Workers Help Line (WWHL) organised the seminar on the topic "Role of Women in Sou
Published 25 Aug, 2010 12:00am
President seeks China's help in reconstruction of infrastructure

President seeks China's help in reconstruction of infrastructure

Chinese Ambassador, Liu Jian called on President Asif Ali Zardari at Aiwan-e-Sadr on Tuesday. Matters pertaining to the flood situation in Pakistan, Chinese assistance for the flood affected people and bilateral relations and mutual co-operation were disc
Published 25 Aug, 2010 12:00am
Government pursuing three-pronged strategy: Prime Minister

Government pursuing three-pronged strategy: Prime Minister

Prime Minister Syed Yusuf Raza Gilani has reiterated the three-pronged strategy of the government to tackle the problems in the aftermath of the devastating floods in the country. Talking to Khurram Jehangir Wattoo, MNA and Ms Rubina Shaheen Wattoo, MPA,
Published 25 Aug, 2010 12:00am
Malaysians actively providing aid

Malaysians actively providing aid

Malaysians from all walks of life have been actively participating in providing humanitarian assistance to the flood-affected people in Pakistan. The Malaysians have so far donated Rs 6.2 million in the 'Prime Minister's Flood Relief Fund 2010'; a local m
Published 25 Aug, 2010 12:00am
Pakistan bracing for diseases after floods: Gilani

Pakistan bracing for diseases after floods: Gilani

Pakistan's medical system has been badly hit by weeks of flooding, with hundreds of health facilities damaged and tens of thousands of medical workers displaced, the prime minister said Tuesday as the country braced for the spread of disease. Prime Minist
Published 25 Aug, 2010 12:00am
EU, USAID teams meet Foreign Minister separately

EU, USAID teams meet Foreign Minister separately

The European Union (EU) Commissioner for Humanitarian Assistance, Kristalina Georgieva and Administrator USAID Rajiv Shah held separate meetings with Foreign Minister Shah Mehmood Qureshi along with their delegation and discussed the situation in the afte
Published 25 Aug, 2010 12:00am
PIAF not to hold Iftar parties during election campaign

PIAF not to hold Iftar parties during election campaign

Pakistan Industrial and Traders Associations Front (PIAF) will not hold Iftar parties during election campaign of candidates in the forthcoming LCCI polls and the funds, thus saved, would be donated to the flood affectees.
Published 25 Aug, 2010 12:00am
Fan-makers association gives cheques of Rs 912,000

Fan-makers association gives cheques of Rs 912,000

Punjab Governor Salmaan Taseer here on Tuesday meeting delegation of Fan Manufacturing Association said that traders, industrialists and local organisations should sustain the flood affectees through self-help, in order to share a burden of government in
Published 25 Aug, 2010 12:00am
PIA's cargo training course under way

PIA's cargo training course under way

A five-week PIA DGR Cargo Training Course is being held in Lahore for the first time, which is offered to the cargo assistants hired by PIA. A PIA spokesman Tuesday said the first batch consists of 18 participants from Lahore, Sailkot and Dera Ghazi Khan.
Published 25 Aug, 2010 12:00am
KBD necessary for protection against future floods: Taseer

KBD necessary for protection against future floods: Taseer

Punjab Governor Salman Taseer has said that construction of Kalabagh dam on river Indus has become all the more necessary to save the nation from future devastating floods. In an interview on a private TV channel, Taseer said the government would have to
Published 25 Aug, 2010 12:00am
WWHL organises South Asian Women Conference

WWHL organises South Asian Women Conference

Sita Kumari, Member Parliament, Nepal has said that the women's movement in Nepal is very strong. All Nepal Women Association (ANWA) is struggling for women rights since last sixty years. In Nepal the parliament has 33 percent women representation. South
Published 25 Aug, 2010 12:00am
PCGA executive body elected unopposed

PCGA executive body elected unopposed

Fifteen members of Pakistan Cotton Ginners Association (PCGA)'s central executive committee were elected unopposed for the year 2010-11. According to election commission, total 16 candidates filed their candidature for the 15 vacant seats of executive com
Published 25 Aug, 2010 12:00am
Insecticide spray begins in Punjab districts

Insecticide spray begins in Punjab districts

Pursuant with the directions of Chief Minister Punjab, Muhammad Shahbaz Sharif, insecticide spray and fogging has been started in Layyah, Rajanpur, Muzaffargarh and DG Khan for controlling infections, diseases and malaria. Secretary Health, Fawad Hassan F
Published 25 Aug, 2010 12:00am
Sialkot Chamber condemns killing of two brothers

Sialkot Chamber condemns killing of two brothers

President Sialkot Chamber of Commerce and Industry (SCCI), Muhammad Ishaq Butt has strongly condemned the brutal killing of two young brothers by the people in front of police, Rescue 1122 and citizens and termed the incident a naked aggression against th
Published 25 Aug, 2010 12:00am
Professional exams: UHS raises bar for awarding distinctions

Professional exams: UHS raises bar for awarding distinctions

The Academic Council of the University of Health Sciences (UHS) has raised the bar for awarding distinctions in various professional examinations including MBBS and BDS, from 80-per cent to 95-per cent marks from annual examinations 2010. The 8th meeting
Published 25 Aug, 2010 12:00am
Government bows down before sugar mafia

Government bows down before sugar mafia

It seems that the government has bowed down before the strong sugar mafia as it has not taken any action against them despite the fact that they have been exploiting the helpless consumers for the last few months by jacking the per kilogram price of the c
Published 25 Aug, 2010 12:00am
ICCI meeting in Pakistan after lapse of 10 years

ICCI meeting in Pakistan after lapse of 10 years

The forthcoming meeting of Islamic Chamber of Commerce and Industry (ICCI), an apex trade body of the Muslim countries, will be held in Pakistan in November, 2010. The Presidents of all the Chambers of Islamic countries will participate in the upcoming me
Published 25 Aug, 2010 12:00am
World Bank team meets vice-chancellor PU

World Bank team meets vice-chancellor PU

A six-member World Bank team called on Punjab University vice-chancellor Professor Dr Mujahid Kamran on Tuesday. The purpose of the meeting is to discuss the reforms in education system as well as expanding the existing participation rate in higher educat
Published 25 Aug, 2010 12:00am
Lolak Khwaja's family seeks protection

Lolak Khwaja's family seeks protection

The family members of a youth Lolak Khwaja who was shot dead in broad daylight on Kutchary Road demanded of the authorities to provide them protection. People who killed Khwaja are now threatening the relatives of dire consequences and demanding withdrawa
Published 25 Aug, 2010 12:00am
Aptma annual election process begins

Aptma annual election process begins

Annual election's process at the All Pakistan Textile Mills Association (APTMA) has been started with chances of neck of neck contests between the rivals for the office of central Chairman, said sources. Nomination papers were filed at the central as well
Published 25 Aug, 2010 12:00am
Climate change and floods

Climate change and floods

While a much-needed debate is still to be initiated on the role of human negligence in adding to the misery caused by the floods, another factor behind the phenomenal floods is gradually coming under focus. Senior US officials have joined scientists in bl
Published 25 Aug, 2010 12:00am
Terrorist attacks

Terrorist attacks

On this Monday also, the merchants of death were busy as usual. They bombed a mosque-cum-seminary in South Waziristan killing 36 and injuring many more, triggered a landmine killing seven participants of a meeting of tribal elders in Kurram Agency and exp
Published 25 Aug, 2010 12:00am
His appeal to 'patriotic generals'

His appeal to 'patriotic generals'

One wonders how to explain Altaf Hussain's sudden outburst of anger against corrupt politicians and feudal lords. From 1988 onwards his party has joined hands alternately with PPP, PML-N and Q-League whom he now accuses of being dominated by feudal lords
Published 25 Aug, 2010 12:00am
GOOD MORNING: Altaf certainly making all the right noises

GOOD MORNING: Altaf certainly making all the right noises

There is so much that has been said and written with sadness, anxiety and anger so far on the Pakistan floods 2010, which is about three weeks since it began hitting land and people, and so much more that will come in the days ahead. But one would like to
Published 25 Aug, 2010 12:00am
China fights to rein in its globe-topping energy use

China fights to rein in its globe-topping energy use

Rising economic powerhouse China is struggling to keep its hunger for energy in bounds. It overtook Japan in the second quarter as the world's second-largest economy, falling behind only the United States, and has also become the number one consumer of en
Published 25 Aug, 2010 12:00am
Balochistan's grievances

Balochistan's grievances

The situation in Balochistan is worsening with every passing day and is calling for swift and concrete actions to address the grievances of Baloch people.
Published 25 Aug, 2010 12:00am
Making more money the KESC way

Making more money the KESC way

Not being satisfied with frequent increase in tariff granted to the KESC by our generous government notwithstanding the extremely poor service provided to the consumers in Karachi, the KESC has now adopted a novel method of making more money.
Published 25 Aug, 2010 12:00am
US MIDDAY: gold rallies

US MIDDAY: gold rallies

Gold rallied by nearly 1 percent early on Tuesday, breaking a two-day losing streak after another round of negative US data undermined the dollar and whet investor appetite for perceived safe-haven assets. Spot gold was at $1,232.20 an ounce at 1520 GMT,
Published 25 Aug, 2010 12:00am
US MIDDAY: copper plunges

US MIDDAY: copper plunges

US copper futures ended sharply lower on Tuesday, after a report that US existing home sales plummeted in July sparked concerns about the demand outlook for the metal. Copper for September delivery fell 5.05 cents, or 1.53 percent, to close at $3.241 per
Published 25 Aug, 2010 12:00am
US MIDDAY: corn, wheat and soya down

US MIDDAY: corn, wheat and soya down

Corn futures on the Chicago Board of Trade fell early Tuesday, pressured by long liquidation and a surprise improvement in weekly US crop condition ratings from the US Agriculture Department. Wheat futures also slipped as much-needed rain fell in parts of
Published 25 Aug, 2010 12:00am
US MIDDAY: coffee, sugar and cocoa fall

US MIDDAY: coffee, sugar and cocoa fall

Coffee, sugar and cocoa futures fell sharply early on Tuesday, swept along in a broad-based fall in oil and most other commodity markets as faltering stock markets reflected concern on anaemic economic recovery. ICE benchmark December arabica coffee hit a
Published 25 Aug, 2010 12:00am
Gold springs back

Gold springs back

Gold rallied by nearly 1 percent on Tuesday, breaking a two-day losing streak after another round of negative US data undermined the dollar and whet investor appetite for perceived safe-haven assets. Gold prices earlier fell by more than 1 percent as the
Published 25 Aug, 2010 12:00am
Gold tumbles in Asia

Gold tumbles in Asia

Gold slipped to its lowest level in nearly a week on Tuesday as weaker equities prompted speculators to sell bullion to cover losses, but an expected drop in US existing homes sales could spur a rebound. Lower prices attracted bargain hunters from Indones
Published 25 Aug, 2010 12:00am
US gold lower

US gold lower

US gold futures ended slightly lower on Monday as a stronger dollar against the euro made the greenback-denominated metal more expensive for holders of other currencies. COMEX December gold futures settle down 30 cents a $1,228.50 an ounce on the COMEX di
Published 25 Aug, 2010 12:00am
Oil slumps a fifth day

Oil slumps a fifth day

Oil fell for a fifth straight session on Tuesday, sliding to a near-seven week intraday low as weak US economic data fuelled concerns about the oil demand outlook while stockpiles hover at record highs. US refined products futures continued their slide.
Published 25 Aug, 2010 12:00am
Copper tumbles

Copper tumbles

Copper tumbled to its lowest in nearly a month on Tuesday as weak housing market data from the world's largest economy, the United States, reinforced worries about growth and demand. Following copper's lead, aluminium hit its lowest in more than a month;
Published 25 Aug, 2010 12:00am
Shanghai copper falls

Shanghai copper falls

Copper prices in Shanghai fell about half a percent on Tuesday, and a dearth of compelling data to support bullish or bearish positions will trap prices in ranges. Benchmark third-month Shanghai copper lost 270 yuan to 56,920 yuan at close, at a 507 yuan
Published 25 Aug, 2010 12:00am
US copper slightly up

US copper slightly up

US copper futures ended slightly higher on Monday, rebounding from last week's losses, helped by technical support. Copper for September delivery rose 0.05 cents to close at $3.2915 per lb on the COMEX metals division of the New York Mercantile Exchange.
Published 25 Aug, 2010 12:00am
Tokyo rubber futures lower

Tokyo rubber futures lower

Tokyo rubber futures ended lower on Tuesday, weighed by stronger Japanese yen, weak oil prices and uncertainty on rubber demand amid fragile auto industry outlook, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange for January del
Published 25 Aug, 2010 12:00am
US soya futures mostly up

US soya futures mostly up

US soyabean futures on the Chicago Board of Trade closed mostly higher on Monday on brisk export demand and spillover from a rally in wheat, traders said. Additional support from concerns about dry weather; the eastern US Midwest had timely weekend rains
Published 25 Aug, 2010 12:00am
Liffe coffee tumbles

Liffe coffee tumbles

Liffe November robusta coffee settled $137 lower at $1,640 per tonne on Tuesday as fund selling, triggering a similar fall in ICE arabicas after arabica coffee hit a near 13-year high on Monday. Liffe October white sugar futures ended $7.90 lower at $569.
Published 25 Aug, 2010 12:00am
Malaysian palm oil at three-week low

Malaysian palm oil at three-week low

Malaysian crude palm oil futures fell to a three-week low on Tuesday on technical selling and a slowdown in demand thanks to a surge in cash prices. Palm oil has lost 5.7 percent so far this year thanks to expectations of bountiful supply of US soybeans a
Published 25 Aug, 2010 12:00am
New York coffee retreats

New York coffee retreats

Arabica coffee retreated on profit-taking after touching a near 13-year high on Monday, but analysts said a shortage of high-quality beans and bullish technical charts indicated the potential for further gains. Sugar and cocoa futures held quietly steady.
Published 25 Aug, 2010 12:00am
New York cotton at four-month top

New York cotton at four-month top

Cotton futures ended on Tuesday at a 4-month top as trade/mill and fund buying swiftly erased losses from a commodity-wide selling spree triggered by fears of a weak global economic recovery, analysts said. ICE Futures US benchmark December cotton contrac
Published 25 Aug, 2010 12:00am
US home sales at multiyear lows, stoke recovery fears

US home sales at multiyear lows, stoke recovery fears

Sales of previously owned US homes took a record plunge in July to their slowest pace in 15 years as the wind went out of the housing sector's sails and underlined a struggling economy. Tuesday's report from the National Association of Realtors was the la
Published 25 Aug, 2010 12:00am
Canola sowing to be encouraged in flood-hit areas

Canola sowing to be encouraged in flood-hit areas

A meeting in the Presidency on the impact of floods on food and agriculture, decided to encourage farmers to sow canola in the flood-affected areas early next month by assisting them with seed, inputs and land preparation to make optimal utilisation of th
Published 25 Aug, 2010 12:00am
Asian debt spreads at one-month high

Asian debt spreads at one-month high

Asian debt spreads jumped to their highest in a month on Tuesday, tracking weak equities on worries about the global economy, but dealers said the outlook remained upbeat given continued strong investor demand for regional credits.
Published 25 Aug, 2010 12:00am
Canola sowing to be encouraged in flood-hit areas

Canola sowing to be encouraged in flood-hit areas

A meeting in the Presidency on the impact of floods on food and agriculture, decided to encourage farmers to sow canola in the flood-affected areas early next month by assisting them with seed, inputs and land preparation to make optimal utilisation of th
Published 25 Aug, 2010 12:00am
Asian debt spreads at one-month high

Asian debt spreads at one-month high

Asian debt spreads jumped to their highest in a month on Tuesday, tracking weak equities on worries about the global economy, but dealers said the outlook remained upbeat given continued strong investor demand for regional credits.
Published 25 Aug, 2010 12:00am
Canola sowing to be encouraged in flood-hit areas

Canola sowing to be encouraged in flood-hit areas

A meeting in the Presidency on the impact of floods on food and agriculture, decided to encourage farmers to sow canola in the flood-affected areas early next month by assisting them with seed, inputs and land preparation to make optimal utilisation of th
Published 25 Aug, 2010 12:00am
Ahmadinejad to visit Pakistan

Ahmadinejad to visit Pakistan

President Mahmoud Ahmadinejad will soon travel to flood-hit Pakistan to witness first hand the impact of the natural disaster that has engulfed Iran's eastern neighbour, the interior minister said Tuesday. "The president has decided to personally visit th
Published 25 Aug, 2010 12:00am
0.675 million tons of wheat stocks damaged by floods

0.675 million tons of wheat stocks damaged by floods

The floods have damaged up to 675,000 tons wheat lying under open sky, Agriculture Ministry officials said. They said that according to initial estimates Pakistan has sustained loss of $20.25 million by the flood. Sources said that the flood had damaged d
Published 25 Aug, 2010 12:00am
Australian wheat grower AWB backs $1 billion Agrium bid

Australian wheat grower AWB backs $1 billion Agrium bid

Canadian fertiliser maker Agrium Inc moved closer to securing its $1.07 billion take-over of Australia's AWB Ltd after the nation's largest wheat exporter formally backed the offer. AWB dropped an earlier recommendation to support a lower bid by domestic
Published 25 Aug, 2010 12:00am
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