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Print - 2011-05-04
Man Group raises $1.5 billion for Japan hedge fund

Man Group raises $1.5 billion for Japan hedge fund

Man Group, Europe's largest listed hedge fund firm, signalled the start of a new alternatives investment boom when unveiling a $1.5 billion fund in Japan, its biggest product launch since the financial crisis. The computer-driven Nomura Global Trend fund
Published 04 May, 2011 12:00am
ADB sees quick recovery for Japan firms

ADB sees quick recovery for Japan firms

Japanese factories whose shipments to Asia and beyond were disrupted by a March earthquake disaster should resume normal operations in about three months, the Asian Development Bank head said Tuesday. Many of the factories in Japan's north-east, although
Published 04 May, 2011 12:00am
Infineon thrives on cars, hikes outlook

Infineon thrives on cars, hikes outlook

Infineon's decision to exit the wireless business to focus on chips for cars and energy efficiency has paid off, helping the German group produce strong second-quarter results and raise its full-year outlook. Infineon, spun off from engineering group Siem
Published 04 May, 2011 12:00am
Pfizer drugs wilt, lower-margin units shine

Pfizer drugs wilt, lower-margin units shine

Pfizer Inc reported disappointing quarterly revenue on declining demand for its prescription medicines, exposing the risks the world's biggest drugmaker would face if it sells better-performing units like its nutritional products business. Ian Read, the c
Published 04 May, 2011 12:00am
Middle East markets: most Gulf indices fall

Middle East markets: most Gulf indices fall

Most Gulf Arab markets gave back gains on Tuesday as investors await local catalysts and petrochemical stocks reacted to an oil price decline. Petrochemical stocks headed losses on the Saudi bourse, with Saudi Basic Industries Corp and Saudi Arabian Ferti
Published 04 May, 2011 12:00am
Indian shares at six-week low

Indian shares at six-week low

Indian shares fell 2.4 percent on Tuesday to its lowest close in nearly six weeks after the central bank raised interest rates by a hefty 50 basis points, triggering concerns the aggressive tightening will dent corporate earnings. The benchmark stock inde
Published 04 May, 2011 12:00am
Southeast Asian stocks weaker

Southeast Asian stocks weaker

Southeast Asian stock markets fell on Tuesday, led by financials and resources as worries over the fragile nature of the global economic recovery and the prospect of further monetary tightening weighed on sentiment. Thailand , the region's best performer
Published 04 May, 2011 12:00am
Tuesday's early afternoon trade: Nasdaq, S&P decline

Tuesday's early afternoon trade: Nasdaq, S&P decline

The S&P and Nasdaq declined on Tuesday as commodity-related shares fell, with investors seeing pullbacks by some sectors that have gained the most in recent months. Among Nasdaq decliners, shares of Sears Holdings fell more than 9 percent after the compan
Published 04 May, 2011 12:00am
US stocks slip

US stocks slip

US stocks slipped on Monday, as an early bounce on Osama bin Laden's death gave way to questions around the longevity of the market's recent rally. The impact of bin Laden's death by US forces on financial markets prompted a quick flurry of buying, which
Published 04 May, 2011 12:00am
Treasuries flat

Treasuries flat

US Treasury prices traded flat on Monday as traders concluded the global war on terror and related safety bids for bonds will continue even after US forces killed al Qaeda leader Osama bin Laden. Bond prices fell overnight on initial optimism that the dea
Published 04 May, 2011 12:00am
Treasuries flat

Treasuries flat

US Treasury prices traded flat on Monday as traders concluded the global war on terror and related safety bids for bonds will continue even after US forces killed al Qaeda leader Osama bin Laden. Bond prices fell overnight on initial optimism that the dea
Published 04 May, 2011 12:00am
Seoul shares fall

Seoul shares fall

Seoul shares slipped on Tuesday, weighed by falls in automakers and refiners including Hyundai Motor and S-Oil, and amid investor caution ahead of a holiday this week. The Korea Composite Stock Price Index ended down 1.27 percent at 2,200.73 points. The K
Published 04 May, 2011 12:00am
China stocks up, Hong Kong falls

China stocks up, Hong Kong falls

China shares rose on light volume on Tuesday helped by defensive sectors, though may follow Hong Kong stocks lower as investors persistently move money out of commodity-related sectors on uncertainty over the growth outlook. Utilities, in particular indep
Published 04 May, 2011 12:00am
European stocks snap winning run

European stocks snap winning run

European stocks sagged on Tuesday, snapping their eight-session winning run in a broad retreat led by mining and oil shares, but analysts said the pull-back was technical and the market's upward trend remained intact. The FTSEurofirst 300 index of top Eur
Published 04 May, 2011 12:00am
Taiwan stocks down

Taiwan stocks down

Taiwan stocks ended down 0.69 percent on Tuesday, with HTC Corp plunging by the maximum daily limit after the smartphone maker was downgraded by some brokerages. Fund managers said HTC shares would consolidate for a while after the company gave a neutral
Published 04 May, 2011 12:00am
Australian shares lower

Australian shares lower

Australian stocks declined 0.8 percent on Tuesday, weighed by worries over the impact of the high Aussie dollar on profits, but ending off their lows after the central bank kept official interest rates steady. The Reserve Bank held interest rates steady a
Published 04 May, 2011 12:00am
UK's top share index rises

UK's top share index rises

Drugmakers helped Britain's top share index rise modestly on Tuesday, buoyed by deal activity in the United States, as traders mooted the possibility that a recent equity rally may falter. Miners hampered the FTSE 100's progress though, hurt by easing met
Published 04 May, 2011 12:00am
Yuan takes breather

Yuan takes breather

The yuan pulled back slightly against the dollar on Tuesday from a slew of recent record highs, as the People's Bank of China fixed a marginally weaker mid-point, signalling the central bank will stick to gradualism in reforming the country's currency reg
Published 04 May, 2011 12:00am
Sterling tumbles versus euro

Sterling tumbles versus euro

Sterling tumbled to its lowest in over a year versus the euro on Tuesday and also fell against the dollar after disappointing UK manufacturing data prompted investors to push back forecasts of a UK interest rate rise. The euro rose 1 percent on the day to
Published 04 May, 2011 12:00am
Dollar struggles in Asia

Dollar struggles in Asia

The dollar struggled to pull away from a three-year trough on Tuesday with higher-yielding currencies such as the Australian dollar still seen in favour even as markets become more concerned over stretched positions. A steep fall in silver the previous da
Published 04 May, 2011 12:00am
Dollar finds respite in London

Dollar finds respite in London

The dollar edged off three-year lows on Tuesday as a build-up of bets to sell it based on loose US monetary policy ran out of steam, though gains against the euro were capped by good demand on dips for the shared currency. The dollar index, which tracks i
Published 04 May, 2011 12:00am
Dollar slumps in early trade

Dollar slumps in early trade

The dollar was near a 17-month trough against the euro and hit a record low against the Swiss franc on Tuesday as expectations US interest rates would stay low indefinitely dulled demand for the greenback. Among major currencies, only sterling was down sh
Published 04 May, 2011 12:00am
Dollar index gains; euro hits 17-month high

Dollar index gains; euro hits 17-month high

The US dollar index edged higher on Monday after falling to a three-year trough, but is seen poised to move lower again as investors seek higher rates offered abroad and shun the low-yielding greenback. News that US forces killed al Qaeda leader Osama bin
Published 04 May, 2011 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 Tuesday. 72.97/73.03 (previous 72.94/73.00). Call Money Rates: 5.00-7.25 percent (previous 4.75-7.50 percent).
Published 04 May, 2011 12:00am
Australian and New Zealand dollars ease

Australian and New Zealand dollars ease

The Australian and New Zealand dollars pared some of their recent hefty gains on Tuesday as weaker stock markets in the region gave a bit of a reprieve to the US dollar, which had been hovering three-year lows. The Aussie subdued at $1.0895, from $1.0940
Published 04 May, 2011 12:00am
Indian rupee falls

Indian rupee falls

The Indian rupee fell on Tuesday tracking a shaky start in local shares and a firmer dollar overseas, and traders awaited the central bank's monetary policy at around 0530 GMT for direction. At 10:10 am (0440 GMT), the partially convertible rupee was at 4
Published 04 May, 2011 12:00am
Won and peso decline

Won and peso decline

The South Korean won and the Philippine peso suffered as investors reduced their stretched positions in emerging Asian currencies with the dollar struggling to rebound but the regional currencies cut losses as their bullish trend is seen intact.
Published 04 May, 2011 12:00am
Money market: focus shifts on front-end before ECB meeting

Money market: focus shifts on front-end before ECB meeting

The European Central Bank's meeting on Thursday could be decisive for bets on a June rate rise, but may have only a slight impact further out the curve and on expectations of how aggressive monetary tightening will be. Money markets are split over whether
Published 04 May, 2011 12:00am
Swiss franc flat

Swiss franc flat

The Swiss franc hovered on Tuesday following weaker than expected economic data, after it came off a new all-time high against the dollar as the greenback rallied on news of the death of al Qaeda leader Osama bin Laden. The franc was flat against the euro
Published 04 May, 2011 12:00am
Argentina slaps $1.3 million tax penalty on Ford

Argentina slaps $1.3 million tax penalty on Ford

The Argentinian tax authority said Tuesday it had fined Ford $1.3 million (5.5 million pesos) for failing to accurately declare autoparts imported from Brazil. Ford must pay the fine within 15 days or its foreign company operating license will be suspende
Published 04 May, 2011 12:00am
Argentina slaps $1.3 million tax penalty on Ford

Argentina slaps $1.3 million tax penalty on Ford

The Argentinian tax authority said Tuesday it had fined Ford $1.3 million (5.5 million pesos) for failing to accurately declare autoparts imported from Brazil. Ford must pay the fine within 15 days or its foreign company operating license will be suspende
Published 04 May, 2011 12:00am
Nissan wins contract for NYC's Taxi of Tomorrow

Nissan wins contract for NYC's Taxi of Tomorrow

Japan's Nissan Motor Co Ltd has won New York's 10-year contract to build the next generation of taxis for the city, Mayor Michael Bloomberg said on Tuesday. Turkish manufacturer Karsan Otomotiv and US automaker Ford Motor Co were the other two finalists i
Published 04 May, 2011 12:00am
Year after Greek bailout, EU ponders rejigged package

Year after Greek bailout, EU ponders rejigged package

An influential member of Germany's governing coalition backed the possibility on Tuesday of easing the terms of Greece's eurozone bailout, a move that might help Athens better weather the debt crisis. Michael Meister, deputy parliamentary leader of Chance
Published 04 May, 2011 12:00am
UK manufacturing PMI hits seven-month low

UK manufacturing PMI hits seven-month low

British manufacturing expanded at its slowest pace in 7 months in April and a slowdown in new orders dimmed hopes that the UK economy would pick up after a weak recovery at the start of the year. The Markit/CIPS manufacturing PMI headline index fell to 54
Published 04 May, 2011 12:00am
US factory orders surge, car sales up

US factory orders surge, car sales up

US factory orders surged in March, posting a fifth straight monthly increase that showed a healthy manufacturing sector well placed to support economic recovery. The Commerce Department said on Tuesday new orders for manufactured goods rose 3 percent to a
Published 04 May, 2011 12:00am
BP to pay $25 million penalty over Alaska oil spill

BP to pay $25 million penalty over Alaska oil spill

BP has agreed to pay a $25 million civil penalty plus interest to settle a federal investigation into a 2006 pipeline oil spill on Alaska's North Slope, according to court papers filed on Tuesday. The oil spill in Alaska is one of several environmental an
Published 04 May, 2011 12:00am
House panel okays new way to fund US home mortgages

House panel okays new way to fund US home mortgages

A bill to create a new market for financing mortgages that would help wean the $10.6 trillion US mortgage market off government support advanced in the House of Representatives on Tuesday. The bill aims to establish a market for covered bonds, securities
Published 04 May, 2011 12:00am
Saab rescued by Chinese automaker

Saab rescued by Chinese automaker

A privately-owned Chinese auto maker has come to the rescue of Saab, paving the way for the Swedish marque's new model to be made in China by pumping cash into a company in danger of collapse. The Chinese alliance comes only a year after tiny Dutch superc
Published 04 May, 2011 12:00am
India toughens stance, lifts rates by 50 bps

India toughens stance, lifts rates by 50 bps

India's central bank stepped up its fight against stubbornly high inflation on Tuesday, raising interest rates by a bigger-than-expected 50 basis points and vowing to battle price pressures even at the cost of some economic growth. The rate rise exceeded
Published 04 May, 2011 12:00am
WTO chief urges 'constructive' push for trade talks

WTO chief urges 'constructive' push for trade talks

World Trade Organisation chief Pascal Lamy on Tuesday urged trading nations to take a constructive and higher level approach to coax a deal out of the ailing decade-old Doha round of free trade talks. Lamy called on the 153 members "to listen to each othe
Published 04 May, 2011 12:00am
Oman opens door to Islamic banks

Oman opens door to Islamic banks

Oman will finally open the door to Islamic banking and let conventional lenders run Shariah-compliant operations in a bid to keep investment funds in the Gulf state and grab a share of the rapidly growing industry. A central bank official told Reuters on
Published 04 May, 2011 12:00am
EU, Japan race to overcome obstacles to trade deal

EU, Japan race to overcome obstacles to trade deal

Japan and the EU are racing to leapfrog obstacles holding up a much-anticipated free trade deal between the world's third economic power and its leading market, officials said on Tuesday. With little over three weeks to go before an EU-Japan summit provid
Published 04 May, 2011 12:00am
Canada's Conservatives score massive election win

Canada's Conservatives score massive election win

Canada's Conservatives stormed to a decisive victory in Monday's federal election, winning 54 percent of the seats in Parliament and securing a stable four-year term in power after vowing to focus on the economy. The Conservatives grabbed 167 seats in Can
Published 04 May, 2011 12:00am
Libyan refugees flee fighting by land and sea

Libyan refugees flee fighting by land and sea

Fighting between rebels and forces loyal to Muammar Qadhafi is forcing thousands of refugees to flee western Libya on foot to the Tunisian border and by boat to Europe, the United Nations said on Tuesday. Rebels said they expected billions of dollars in c
Published 04 May, 2011 12:00am
Commission suspects Kyrgyz military role in clashes

Commission suspects Kyrgyz military role in clashes

Kyrgyz security forces may have been complicit in ethnic clashes that killed 470 people last year, an independent commission said on Tuesday, urging the government to investigate the military's role in the violence. The Kyrgyzstan Inquiry Commission, chai
Published 04 May, 2011 12:00am
Spain jails Somali pirates for 439 years

Spain jails Somali pirates for 439 years

A court in Spain Tuesday sentenced two Somali men to jail terms of 439 years each for their role in the hijacking of a Spanish fishing trawler and its crew in October 2009. The two, Abdou Willy and Raagegeesey Adji Hamanwere, were detained by Spanish mari
Published 04 May, 2011 12:00am
Mubarak, Ben Ali and Qadhafi assets frozen in Switzerland

Mubarak, Ben Ali and Qadhafi assets frozen in Switzerland

Assets totalling 960.4 million dollars belonging to North African autocrats and dictators have been frozen by Swiss banks, Foreign Minister Micheline Calmy-Rey said Tuesday, according to Swiss media. The minister cited the figure of 830 million Swiss fran
Published 04 May, 2011 12:00am
Syrian forces crack down on protesters

Syrian forces crack down on protesters

Syrian security forces swept into the coastal city of Banias on Tuesday, a protest leader said, taking control of another urban centre from demonstrators challenging the authoritarian rule of President Bashar al-Assad. "They moved into the main market are
Published 04 May, 2011 12:00am
Palestinian factions sign unity deal in Cairo

Palestinian factions sign unity deal in Cairo

Palestinian factions signed a reconciliation deal in Cairo on Tuesday to end the divide between the West Bank and Gaza and hold elections in a year in an agreement Israel called a blow to peace. Representatives of 13 factions, including Palestinian presid
Published 04 May, 2011 12:00am
EU wins super-observer status at UN

EU wins super-observer status at UN

The European Union on Tuesday secured super-observer status at the United Nations after overcoming objections from small states that they could see their influence eroded. A vote was passed by the 192-nation UN General Assembly after high-powered lobbying
Published 04 May, 2011 12:00am
101 journalists killed across the globe in 2010

101 journalists killed across the globe in 2010

The number of journalists killed across the globe last year hit 101, the second highest figure since the 1990s, the International Press Institute (IPI) said Tuesday. The most dangerous region was Asia, with 40 journalists killed, 15 of them in Pakistan, t
Published 04 May, 2011 12:00am
Journalists pay heavy price in Arab uprisings: UN

Journalists pay heavy price in Arab uprisings: UN

UN human rights chief Navi Pillay paid tribute on Tuesday to the heavy price paid by local and international journalists in uprisings in the Middle East and North Africa. In an address to mark World Press Freedom Day, Pillay remarked that "three-quarters
Published 04 May, 2011 12:00am
Beware al Qaeda revenge, Middle East media warn

Beware al Qaeda revenge, Middle East media warn

Middle East papers including in Osama bin Laden's homeland Saudi Arabia on Tuesday hailed the al Qaeda chief's death as a victory for US President Barack Obama, but they also warned of possible retaliation. Some newspapers questioned the US special forces
Published 04 May, 2011 12:00am
Bin Laden hailed as martyr at Khartoum rally

Bin Laden hailed as martyr at Khartoum rally

Around 1,000 Sudanese Muslims gathered on Tuesday at a square in Khartoum, where Osama Bin Laden lived in the 1990s, hailing al Qaeda's slain leader as a "martyr" and shouting anti-US slogans. "Death to America!" and "Mohammed's army will return," the cro
Published 04 May, 2011 12:00am
Bin Laden not armed: White House

Bin Laden not armed: White House

Al Qaeda leader Osama bin Laden was not armed when US special forces stormed his compound in Pakistan but he did resist before he was shot, White House spokesman Jay Carney said on Tuesday. Carney said bin Laden's wife "rushed the US assaulter" and was sh
Published 04 May, 2011 12:00am
Should bin Laden have been captured and tried?

Should bin Laden have been captured and tried?

While many world leaders applauded the US operation that killed al Qaeda leader Osama bin Laden, there were concerns in parts of Europe that the United States was wrong to act as policeman, judge and executioner. US Attorney General Eric Holder defended t
Published 04 May, 2011 12:00am
'Pressure group hindrance in action against environmental polluters'

'Pressure group hindrance in action against environmental polluters'

Supreme Court has directed Ministry of Environment to take action against environmental polluters, but a pressure group within the industrial sector has been effective in blocking the actions over the last two years. This was stated by Secretary, Ministry
Published 04 May, 2011 12:00am
PIA's 54th Annual General Meeting held

PIA's 54th Annual General Meeting held

Pakistan International Airline's 54th Annual General Meeting was held at a local hotel. Managing Director PIA, Nadeem Khan Yousufzai in his first address to the shareholders at the meeting said that year 2010 proved to be a challenging year. While the glo
Published 04 May, 2011 12:00am
HCCI workshop on May 5

HCCI workshop on May 5

Small and Medium Enterprise Development Authority (Smeda), Ministry of Industries Production, Government of Pakistan and Youth Affairs Department, Government of Sindh in co-ordination with Hyderabad Chamber of Commerce & Industry (HCCI) is organising one-
Published 04 May, 2011 12:00am
Samsung launches GALAXY S II

Samsung launches GALAXY S II

Samsung Electronics Co Ltd, has announced the launch of GALAXY S II, its flagship Android(tm)-powered smartphone. The Samsung GALAXY S II succeeds Samsung's best-selling GALAXY S, which sold a record of 14 million units since last year. The GALAXY S II fe
Published 04 May, 2011 12:00am
Sketches of suspects of Birch Club blast issued

Sketches of suspects of Birch Club blast issued

Law Enforcement Agencies (LEAs) on Tuesday issued the sketches of three more suspects of Birch club blast that claimed 19 lives and left over fifty injured. Needless to mention, on April 25, Sindh police claimed to have arrested a notorious terrorist name
Published 04 May, 2011 12:00am
Rains end West Indies losing run

Rains end West Indies losing run

Mohammad Hafeez' second career hundred was upstaged by rain and a blistering 76 from Lendl Simmons that condemned Pakistan to a one-run defeat under the Duckworth-Lewis Method in the fourth One-day International on Monday. Pakistan were left to nurse thei
Published 04 May, 2011 12:00am
Tillakaratne to take fixing allegations to ICC

Tillakaratne to take fixing allegations to ICC

Former Sri Lanka test captain Hashan Tillakaratne said Tuesday he will tell the International Cricket Council that matches were fixed during his career. Tillakaratne, a politician in Sri Lanka's opposition, said he will reveal the names of those involved
Published 04 May, 2011 12:00am
Flower renews England contract

Flower renews England contract

Andy Flower has signed a new contract to remain in the role of England team director, the England and Wales Cricket Board confirmed on Tuesday. The former Zimbabwe captain, 43, took over from Peter Moores in January 2009 and has since guided the team to t
Published 04 May, 2011 12:00am
PCB ends fixing row with Australia

PCB ends fixing row with Australia

Pakistan cricket authorities on Tuesday settled a row with the head of the Australian board over comments he made in the wake of a damaging spot-fixing scandal that hit the South Asian team last year. Three leading Pakistan players, including former Test
Published 04 May, 2011 12:00am
Prolonged power outages hitting industry in Sialkot

Prolonged power outages hitting industry in Sialkot

Prolonged electricity load shedding has crippled the production activities and exporters' community was unable to accomplish foreign orders within time. The government was creating step by step hurdles by increasing electricity and petroleum prices result
Published 04 May, 2011 12:00am
Moot on economy management commences today

Moot on economy management commences today

Lahore School of Economics is holding its seventh annual conference on 'Management of Pakistan Economy' from May 4th - May 6th at the Burki Campus. The theme of this year's conference is "Financial Sector Development and Management'. Shahid H. Kardar, Gov
Published 04 May, 2011 12:00am
'Loadshedding will come down in two days with oil supply'

'Loadshedding will come down in two days with oil supply'

Managing Director (MD) Pakistan Electric Power Company (Pepco) Rasul Khan Mehsud said Tuesday the power load shedding would come down in two days with oil supply to the thermal units. The total power shortfall due to poor supply of furnace oil was 4000MW
Published 04 May, 2011 12:00am
PML-N for restructuring of parliamentary panel

PML-N for restructuring of parliamentary panel

Pakistan Muslim League-Nawaz has demanded reconstitution of parliamentary committee on appointment of judges in the superior courts after joining treasury benches by Pakistan Muslim League-Q.
Published 04 May, 2011 12:00am
CIPE holds workshop on corporate governance

CIPE holds workshop on corporate governance

A two-day workshop on corporate governance was launched by the Centre for International Private Enterprise (CIPE) here on Tuesday in collaboration with International Finance Corporation-a member of the World Bank Group-and Pakistan Microfinance Network.
Published 04 May, 2011 12:00am
Hot, dry weather likely

Hot, dry weather likely

Weather remained hot and dry in most parts of the country on Tuesday as the nation braved another day of long load shedding of electricity for 10 to 15 hours, which also caused short supply of clean drinking water due to closure of tube wells in the citie
Published 04 May, 2011 12:00am
Petition seeking ban on Musharraf's party

Petition seeking ban on Musharraf's party

An application has been filed before the Lahore High Court praying to restrain former president Pervez Musharraf from taking part in politics and banning his party. The application was filed by Rana Illumddin Ghazi in a pending matter against Pervez Musha
Published 04 May, 2011 12:00am
Jimmy for promoting soft image of Pakistan

Jimmy for promoting soft image of Pakistan

Prominent artist of international repute Jimmy Engineer has said that he firmly believes in using his God-given artistic capabilities for promoting soft image of the Motherland for helping the needy and destitute people through charity.
Published 04 May, 2011 12:00am
Special package for cottage industry demanded

Special package for cottage industry demanded

The economic revival will remain a dream until a special package is announced in the upcoming budget for the cottage industry. The Pakistan Industrial and Traders Association Front (PIAF) Chairman Sohail Lashari expressed these views while speaking at a r
Published 04 May, 2011 12:00am
JI slams PPP for its anti-worker policies

JI slams PPP for its anti-worker policies

Secretary General Jamaat-i-Islami, Liaquat Baloch has said PPP's claims of being a labour friendly party have been proved false because of its anti-worker policies. He expressed deep concern over the workers plight in the Pakistan Steel Mill and said that
Published 04 May, 2011 12:00am
New York cotton settles higher

New York cotton settles higher

US cotton futures finished higher on Tuesday on investor buying inspired in part by floods in parts of the US Delta, and drought in Texas provided support for fibre contracts, analysts said. The key July cotton contract on ICE Futures US rose 3.06 cents t
Published 04 May, 2011 12:00am
Arabicas rally

Arabicas rally

Arabica coffee futures jumped to a 34-year peak on Monday due to tight supplies of high-quality beans while raw sugar slid to its lowest level in almost eight months as bumper stockpiles reached the market. Cocoa retreated from a six-week peak reached Fri
Published 04 May, 2011 12:00am
Malaysian palm oil flat

Malaysian palm oil flat

Malaysian palm oil futures ended almost flat on Tuesday after a long weekend holiday as gains from a rebound in exports last month were erased by prospects of higher output. But continued growth in exports this month could reverse declines in palm oil, wh
Published 04 May, 2011 12:00am
Liffe robusta coffee higher, sugar hits seven-month low

Liffe robusta coffee higher, sugar hits seven-month low

Liffe July robusta coffee rose $56 to close at $2,611 a tonne on Tuesday, having earlier hit a contract high of $2,619. Market supported by surge in ICE arabicas to a fresh 34-year peak. Liffe August white sugar fell $5.60 to close at $609.50 a tonne afte
Published 04 May, 2011 12:00am
US soyabeans lower

US soyabeans lower

US soyabean futures ended lower on Monday, although prices edged off earlier lows as gains in the US dollar also eased, traders said. Spot soyabean prices climbed early to a session high of $14, a technical resistance point, but lacked upside momentum and
Published 04 May, 2011 12:00am
US copper bounces

US copper bounces

Copper bounced to a firm finish on Monday, with technical momentum kicking in near its year-to-date lows, but softer manufacturing data from the world's top two consumers kept short-term demand worries front and centre. The July COMEX copper contract firm
Published 04 May, 2011 12:00am
Shanghai copper down

Shanghai copper down

Shanghai copper inched down on Tuesday under the weight of a firmer dollar and economic uncertainty ahead of US economic data this week, including key non-farm payroll numbers for April due on Friday. The most active Shanghai July copper contract closed 0
Published 04 May, 2011 12:00am
Copper climbs

Copper climbs

Copper climbed off seven-week lows to end positive on Tuesday after better-than-expected US factory orders underlined a recovery in the world's top economy, although a slowdown in Chinese growth curbed upside momentum. Copper for three-month delivery on t
Published 04 May, 2011 12:00am
Oil falls over two percent

Oil falls over two percent

Oil prices dropped more than 2 percent on Tuesday as an interest rate increase by India added to concerns about demand and gains in the dollar helped spark a technical sell-off. Brent crude broke under its 20-day moving average for the first time since No
Published 04 May, 2011 12:00am
US gold, silver fall

US gold, silver fall

Gold fell from a record high on Monday and silver notched its biggest one-day loss in seven weeks after the killing of Osama bin Laden sapped the safe-haven premium out of precious metals. Silver bounced off early lows after falling as much as 11 percent,
Published 04 May, 2011 12:00am
Gold steadies in Asia

Gold steadies in Asia

Gold prices held steady on Tuesday, as investors weighed the news of Osama bin Laden's death against other factors including low interest rates in the United States and global inflation concerns. The death of al Qaeda's leader accelerated spot gold's drop
Published 04 May, 2011 12:00am
Gold eases in London

Gold eases in London

Gold fell on Tuesday from record highs above $1,570 an ounce the previous day, as the dollar rose and as safe-haven buying of the metal lost some momentum following the death of al Qaeda leader Osama bin Laden. Spot silver also came under selling pressure
Published 04 May, 2011 12:00am
US MIDDAY: coffee settles at 34-year high

US MIDDAY: coffee settles at 34-year high

Arabica coffee futures finished at the highest level in 34 years on Tuesday, but ended the day well off its highs that neared $3.09 per lb in a choppy combination of profit-taking and short-covering. The key July raw sugar contract rose 0.18 cent to finis
Published 04 May, 2011 12:00am
US MIDDAY: soya falls

US MIDDAY: soya falls

US soyabean futures fell on Tuesday, their fifth decline in the last six sessions, pressured by a lack of demand from China, the world's top soya buyer, and spillover weakness from crude oil and gold. Wheat turned lower, following nearby corn and soyabean
Published 04 May, 2011 12:00am
US MIDDAY: copper soars

US MIDDAY: copper soars

Copper bounced from a seven-week low to end up on Tuesday, buoyed by surprisingly strong US factory orders data that underscored recovery optimism in Western economies, even as Chinese growth slowed. Gains fed through across base metals, with aluminium hi
Published 04 May, 2011 12:00am
US MIDDAY: silver plummets

US MIDDAY: silver plummets

Silver fell sharply for a second straight session Tuesday and was set for its biggest two-day loss since December 2008 as speculators sold heavily after the US commodity exchange raised silver futures for a third time in the last seven days. After reachin
Published 04 May, 2011 12:00am
All economic sectors: this is era of efficient management, says Dar

All economic sectors: this is era of efficient management, says Dar

Senator Ishaq Dar of PML-N said on Tuesday that Pakistan can meet current global economic challenges by increasing management efficiency through dynamic young professionals trained by high-reputed institutions like Chartered Institute of Management Accoun
Published 04 May, 2011 12:00am
Indus Motors delivers all Corolla orders

Indus Motors delivers all Corolla orders

The Indus Motors Company (IMC) honoured its commitment by delivering all Corolla orders for the month of April without any major delay despite facing supply constraints in auto parts from Japan, IMC spokesman said in a press release issued here on Tuesday
Published 04 May, 2011 12:00am
Afridi lauds students' services during IPO conference

Afridi lauds students' services during IPO conference

Chairman Intellectual Property Organisation (IPO) Pakistan Hameedullah Jan Afridi has said that students were the asset of the country and their energies and capabilities should be utilised for the development of the country.
Published 04 May, 2011 12:00am
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