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Print - 2011-05-24
US Plains HRW wheat bids higher

US Plains HRW wheat bids higher

Hard red winter wheat basis bids were steady to higher on Monday, rising as much as 20 cents in Kansas on slow farmer selling, dealers said. Bids were generally up 5 to 20 cents per bushel across Kansas, and up 10 cents in parts of Oklahoma. Dealers said
Published 24 May, 2011 12:00am
Prices firm in thin business on cotton market

Prices firm in thin business on cotton market

Firmness prevailed on the cotton market on Monday in process of thin business as a result of ginners' not being interested in bringing down the rates, brokers said. The Karachi Cotton Association (KCA) official spot rate was unchanged at Rs 8,500, they sa
Published 24 May, 2011 12:00am
Kenyan tea mixed on Jodia Bazaar

Kenyan tea mixed on Jodia Bazaar

The trading in Kenyan tea items moved both ways on Jodia Bazaar here on Monday. The following variations were noted.
Published 24 May, 2011 12:00am
Prices tend higher on grain market

Prices tend higher on grain market

Prices moved up on the wholesale grain market on Monday in process of modest trading, dealers said. On the cereal side barley Simdh and Mardan was higher by Rs 100 to Rs 2550, wheat old and new bardan followed same print, gaining Rs 25 to Rs 2450-2465. Gu
Published 24 May, 2011 12:00am
Russian wheat prices stable, barley falls

Russian wheat prices stable, barley falls

Russian wheat prices were broadly stable last week though in the south recovered some of their losses later in the week on rumours about a possible restart to exports which could boost future prices, analysts said on Monday. Barley fell as the government
Published 24 May, 2011 12:00am
US Midwest corn bids firm

US Midwest corn bids firm

Corn spot basis bids were firm at elevators in the eastern US Midwest on Monday while soyabean bids held steady across the region as farmers eyed further gains in prices and delayed sales of each crop, grain merchants said. Growers are bullish following s
Published 24 May, 2011 12:00am
Malawi's maize output seen at 3.8 million tonnes

Malawi's maize output seen at 3.8 million tonnes

Malawi is expected to harvest 3.8 million tonnes of maize this year, up from 3.5 million reaped in the previous year, despite some dry periods during the season, President Bingu wa Mutharika said on Monday. Malawi introduced a fertiliser and seed subsidy
Published 24 May, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 291,338 tonnes of cargo including 213,474 tonnes of import cargo, 77,864 tonnes of export cargo and 3,346 loaded & empty containers during last 48 hours ended at 0700 hours on Monday. The total import cargo of 213,474 tonnes compr
Published 24 May, 2011 12:00am
Thai economy accelerates in first quarter

Thai economy accelerates in first quarter

Thailand's economy grew 2.0 percent in the first quarter from the previous three months due to strong exports and a steady rise in consumer spending, data showed on Monday, reinforcing expectations of a June interest rate rise to curb inflation.
Published 24 May, 2011 12:00am
India wants emerging markets candidate for IMF top job

India wants emerging markets candidate for IMF top job

India favours emerging economies jointly putting forward a candidate to head the International Monetary Fund, even if their bid is ultimately unsuccessful, two Indian finance ministry sources said on Monday. Asia's third-largest economy is working behind
Published 24 May, 2011 12:00am
Rwanda sees private sector credit up 20 percent

Rwanda sees private sector credit up 20 percent

Rwanda expects credit to the private sector to grow by 20 percent in this year and inflation to rise moderately as low food prices cushion the effects of high oil prices, the central bank said on Monday. National Bank of Rwanda Governor Claver Gatete told
Published 24 May, 2011 12:00am
US court orders more hearings on Navy's jet contract

US court orders more hearings on Navy's jet contract

The Supreme Court kept alive a 20-year-old lawsuit over the Navy's cancellation of a $4.8 billion contract for an attack plane built by Boeing Co and General Dynamics Corp. The justices unanimously set aside a US appeals court ruling that the Navy had bee
Published 24 May, 2011 12:00am
Europe on alert for Icelandic volcano ash cloud

Europe on alert for Icelandic volcano ash cloud

Britain said flights could be disrupted from parts of the country on Tuesday by an ash cloud billowing from an Icelandic volcano, but said it did not expect a repeat of last year's travel chaos. Britain's Met Office is predicting the plume of ash from the
Published 24 May, 2011 12:00am
Big banks need special regulation: ECB board member

Big banks need special regulation: ECB board member

It would be justified to draw up regulation against speculation for major banks because their collapse could jeopardise the financial system as a whole, a top European Central Bank official said Monday. The sheer size and interconnectedness of so-called "
Published 24 May, 2011 12:00am
Mexico's FDI rises 10.5 percent from year ago

Mexico's FDI rises 10.5 percent from year ago

Mexico received $4.8 billion in foreign direct investment during the first three months of the year, up 10.5 percent from the same period of 2010, the economy ministry said on Monday. Mexico's finance minister said last month FDI in Mexico should rise thi
Published 24 May, 2011 12:00am
Fitch cuts Belgian rating outlook to negative

Fitch cuts Belgian rating outlook to negative

Fitch Ratings on Monday cut its outlook on Belgium to 'Negative' from 'Stable' because of a protracted political crisis that has left the country without a permanent government for months. Fitch said the move reflected its concerns "over the pace of struc
Published 24 May, 2011 12:00am
Middle East markets: Dubai leads declines

Middle East markets: Dubai leads declines

Dubai shares led a regional decline on Monday as most Gulf Arab markets took their cues from weakness in global stocks, and Egypt's bourse fell from Sunday's six-week high. Doubts about Europe's ability to manage its debt hammered markets on Monday, knock
Published 24 May, 2011 12:00am
Taiwan stocks slip

Taiwan stocks slip

Taiwan stocks fell 1.01 percent to an over one-month closing low on Monday, with iPad supplier Hon Hai Precision trading lower on concerns Apple Inc might shift orders to other producers following a blast at one of the company's plants in China. Hon Hai,
Published 24 May, 2011 12:00am
Indian shares falls

Indian shares falls

Indian shares fell 1.82 percent on Monday, taking their cues from global equities that were dragged down by fresh worries over euro-zone debt, but traders say the recent correction in commodity prices may provide a respite to the local market. Financials
Published 24 May, 2011 12:00am
Nikkei hits five-week low

Nikkei hits five-week low

The Nikkei average fell to a five-week low on Monday after hedge funds unwound positions in construction machinery makers, spurred by Nomura Securities' downgrades on sagging China demand, with investors eyeing more losses for the benchmark after it breac
Published 24 May, 2011 12:00am
Monday's early afternoon trade: US stocks drop over one percent

Monday's early afternoon trade: US stocks drop over one percent

US stocks fell on Monday, with major indexes falling more than 1 percent, on concerns about the eurozone debt crisis and a slowdown in global industrial demand, prompting investors to buy more protection against a further market decline. The CBOE Volatili
Published 24 May, 2011 12:00am
Southeast Asian markets: major bourses at multi-week low

Southeast Asian markets: major bourses at multi-week low

Major Southeast Asian stock markets fell to multi-week lows on Monday as worries that Greece's debt problems could hurt the global economic recovery took a toll on global risk assets and weak commodity markets fuelled a sell-off in resource shares. Stock
Published 24 May, 2011 12:00am
Chinese stocks at 3-1/2-month low

Chinese stocks at 3-1/2-month low

China shares fell to a 3-1/2-month low on Monday, dragging Hong Kong lower, as retail investors piled into a selloff after a spike in money market rates and a softer reading on Chinese manufacturing suggested more weakness ahead.
Published 24 May, 2011 12:00am
Seoul shares fall

Seoul shares fall

Seoul shares fell on Monday as foreign investor selling persisted, with losses led by automakers and refiners including Hyundai Motor and SK Innovation. The Korea Composite Stock Price Index finished down 2.64 percent at 2,055.71 points. KOSPI 200 June fu
Published 24 May, 2011 12:00am
European shares at five-week low

European shares at five-week low

European shares hit a five-week closing low on Monday as a cut in credit ratings for Greece and a "negative" outlook for Italy raised concerns about the eurozone's continuing debt crisis. Charts sent a near-term bearish signal and the Euro STOXX 50 volati
Published 24 May, 2011 12:00am
FTSE at two-month low

FTSE at two-month low

Renewed concerns about the eurozone debt crisis triggered a steep sell-off of Britain's top shares on Monday, led by commodity stocks, with some analysts and investors seeing little on the horizon to tempt investors back into the market. The FTSE 100 inde
Published 24 May, 2011 12:00am
Money markets: ECB rate rise bets pared on eurozone woes

Money markets: ECB rate rise bets pared on eurozone woes

Investors trimmed expectations of how aggressively the ECB will raise interest rates as a result of spreading stress in the sovereign bond market on Monday, but analysts said a rate hike in July remained priced in. The interest rate expectations implied b
Published 24 May, 2011 12:00am
Euro hits record low versus Swiss franc in Asia

Euro hits record low versus Swiss franc in Asia

The euro slid to a two-month low against the dollar and hit a record low against the Swiss franc on Monday, hurt by ongoing worries about the potential for debt restructuring by Greece, with market positioning pointing to the chances of a further drop.
Published 24 May, 2011 12:00am
Early trade in New York: Euro breaks $1.40 on debt fears

Early trade in New York: Euro breaks $1.40 on debt fears

The euro fell broadly on Monday, hitting a two-month low against the US dollar and a record trough against the Swiss franc, with more losses expected on fears the eurozone sovereign debt crisis is spreading. The euro fell beneath key support at $1.40, wit
Published 24 May, 2011 12:00am
Euro tumbles in London

Euro tumbles in London

The euro fell to a two-month low versus the dollar and a record trough against the Swiss franc on Monday, as investors unwound bullish bets on mounting worries about the region's debt with many expecting more losses. The euro fell to as low $1.3968 on tra
Published 24 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 Monday. 73.25/73.34 (previous 73.27/73.29). Call Money Rates: 6.5-12.00 percent (previous 6.5-12.00 percent).
Published 24 May, 2011 12:00am
Indian rupee dips

Indian rupee dips

The Indian rupee hit its weakest level in more than two months on Monday, pressured by the euro's slide and weakness in local equities, but dollar sales by exporters pulled it off lows. The partially convertible rupee ended at 45.23/24 per dollar, half a
Published 24 May, 2011 12:00am
Ringgit, won breach supports

Ringgit, won breach supports

The Malaysian ringgit and the South Korean won broke through major support levels on Monday and appeared poised for further losses, leading falls in emerging Asian currencies, as investors dumped riskier assets amid persistent worries about Greece's debt
Published 24 May, 2011 12:00am
Australian and New Zealand dollars slide

Australian and New Zealand dollars slide

The Australian and New Zealand dollars slid on Monday as persistent concerns about the eurozone debt crisis, a slump in regional stocks and soft commodity prices tempered risk appetite. The Aussie skidded one percent to as low as $1.0545, more than a full
Published 24 May, 2011 12:00am
Swiss franc at record high versus euro

Swiss franc at record high versus euro

The Swiss franc rose to a new record high against the euro on Monday on concerns about the debt crisis in the single currency zone. The euro slipped across the board after Fitch Ratings cut Greece's debt ratings by three notches on Friday, pushing the cou
Published 24 May, 2011 12:00am
Yuan slips

Yuan slips

The yuan snapped three days of gains and eased to 6.50 per dollar on Monday after the People's Bank of China set a weaker mid-point, as the dollar index climbed to a seven-week high on worries over Greek debt. Traders said the mid-point only fell a few pi
Published 24 May, 2011 12:00am
Sterling up versus euro

Sterling up versus euro

Sterling hit a two-month high against the euro on Monday as the single currency fell broadly on eurozone debt worries, but it hovered near a seven-week low versus the dollar as investors cut exposure to riskier assets. The euro fell to 86.64 pence, though
Published 24 May, 2011 12:00am
Japan to host Club World Cup: Blatter pledges cash from FIFA coffers

Japan to host Club World Cup: Blatter pledges cash from FIFA coffers

Japan will host December's Club World Cup as scheduled, FIFA said on Monday, dismissing fears the country's nuclear crisis could force a switch of venue. FIFA president Sepp Blatter met Japanese Prime Minister Naoto Kan to pledge support for the relief ef
Published 24 May, 2011 12:00am
Berdych crashes out of French Open

Berdych crashes out of French Open

Czech sixth seed Tomas Berdych crashed out of Roland Garros on Monday after losing a marathon five-set first-round tie to French qualifier Stephane Robert. Berdych, a semi-finalist here last year and the Wimbledon runner-up, slumped to a 3-6, 3-6, 6-2, 6-
Published 24 May, 2011 12:00am
Djokovic, Federer off to winning starts

Djokovic, Federer off to winning starts

Novak Djokovic took his unbeaten record in 2011 to 38 wins on Monday before Grand Slam king Roger Federer demonstrated to the unstoppable Serb that he is still a French Open force. Second seed Djokovic enjoyed a 6-2, 6-1, 6-3 dismissal of hapless Dutchman
Published 24 May, 2011 12:00am
Afghanistan end Pakistan's pariah status

Afghanistan end Pakistan's pariah status

Afghanistan's cricket team flew to Islamabad on Monday to play three one-day matches against the hosts' second side, ending Pakistan's two-year pariah status as an international host. Afghanistan are the first foreign squad to tour Pakistan since militant
Published 24 May, 2011 12:00am
Indian court summons Swiss Timing in Games scam

Indian court summons Swiss Timing in Games scam

An Indian court on Monday ordered police to summon sports timing company Swiss Timing to face trial in an alleged fraud involving a deal awarded to the firm by Delhi Commonwealth Games organisers. "Summons be issued to its CEO by diplomatic channels, thro
Published 24 May, 2011 12:00am
Iraqi Madrid fan hands over $1,700 in goal dispute

Iraqi Madrid fan hands over $1,700 in goal dispute

An Iraqi Real Madrid supporter had to pay a fan of rival Barcelona $1,700 (1,215 euros) after a row over a disallowed Champions League goal was resolved by their tribes, a relative said Monday. The two-million Iraqi dinar fine settled the dispute that eru
Published 24 May, 2011 12:00am
Sri Lanka cautious on Pakistan tour

Sri Lanka cautious on Pakistan tour

Sri Lanka's cricket officials Monday reacted cautiously to an invitation to tour Pakistan, just two years after players were targeted in a deadly militant ambush in Lahore. The Pakistan Cricket Board announced at the weekend that they had invited Sri Lank
Published 24 May, 2011 12:00am
North Korea's Kim tours east China, economic ties in focus

North Korea's Kim tours east China, economic ties in focus

North Korea's secretive leader Kim Jong-il toured east China on Monday, continuing a visit that suggests he is taking a fresh interest in the success of reforms in Asia's biggest economy and his isolated country's only major benefactor.China's leaders hav
Published 24 May, 2011 12:00am
Belarus unifies rouble exchange rates

Belarus unifies rouble exchange rates

The Belarus central bank said on Monday it would devalue the rouble's official exchange rate and unify all other rates around it, confirming rumours that had earlier boosted the currency on the interbank market. In a statement on its website, the central
Published 24 May, 2011 12:00am
Iraq seeks Iranian gas for power generation

Iraq seeks Iranian gas for power generation

Iraq has signed a tentative deal with Iran to import natural gas to ease its electricity woes, an official said Monday, in a step that deepens economic ties with Tehran as US troops prepare to leave at the end of the year. Iraq's government has been strug
Published 24 May, 2011 12:00am
Eurozone, China PMIs ease as policy bites

Eurozone, China PMIs ease as policy bites

Manufacturers in Europe and China tapped the brakes this month and price pressures eased as tighter policy measures to control inflation began to bite, purchasing managers' indexes showed on Monday. Preliminary purchasing managers' surveys pointed to marg
Published 24 May, 2011 12:00am
IBM overtakes Microsoft's market cap

IBM overtakes Microsoft's market cap

International Business Machines surged past old rival Microsoft Corp in market value for the first time since April 1996, marking the latest twist in the fluctuating fortunes of two of the world's most important technology companies. IBM ruled the compute
Published 24 May, 2011 12:00am
Obama in Ireland, holds talks on economy, trade

Obama in Ireland, holds talks on economy, trade

US President Barack Obama, starting a four-nation tour of Europe in Ireland on Monday, said he wanted to encourage bilateral trade and would do all he could to help the country's economic recovery. Obama will also explore his Irish roots, making a brief v
Published 24 May, 2011 12:00am
Iraq's oil exports yield post-Saddam record income

Iraq's oil exports yield post-Saddam record income

Iraqi oil exports brought in record income in April on the back of rising oil prices, breaking a mark set the previous month, the oil ministry said on Monday. Iraq exported a total of 64.2 million barrels of oil last month, generating $7.342 billion (5.24
Published 24 May, 2011 12:00am
Commerzbank falls on new share issue price

Commerzbank falls on new share issue price

Shares in Commerzbank AG fell 2.8 percent on Monday after Germany's second biggest lender announced a heavy 45 percent discount on a sale of new shares to help the bank repay state aid received in the financial crisis. The bank said late on Sunday it woul
Published 24 May, 2011 12:00am
Saudi billionaire invests $400 million in Glencore

Saudi billionaire invests $400 million in Glencore

Saudi billionaire Prince Alwaleed bin Talal and his investment company have invested $400 million into commodities giant Glencore International PLC. Kingdom Holding Co, which is chaired by Alwaeleed, said Monday that its investment represented 3.6 percent
Published 24 May, 2011 12:00am
Massive telecom scandal: India denies bail to five executives

Massive telecom scandal: India denies bail to five executives

An Indian court denied bail Monday to five top executives accused in a massive telecom scandal that has rocked the Congress-led government, saying the charges against them are too serious. The five face charges of cheating, forgery and abetment to crime i
Published 24 May, 2011 12:00am
Quake may have hurt Japan long-term growth: Moody's

Quake may have hurt Japan long-term growth: Moody's

Japan's return to recession and a bigger-than-expected slump in first-quarter economic growth are negative for its credit rating, Moody's Investors Service said, warning that a delay in recovery could warrant additional fiscal and monetary stimulus.
Published 24 May, 2011 12:00am
Eurozone periphery under pressure over new risks

Eurozone periphery under pressure over new risks

Financial markets piled pressure on peripheral eurozone countries on Monday as investors worried about heightened risks in Spain and Greece and fresh concerns over Italy. A weekend wipe-out of Spain's ruling Socialists in regional and municipal elections
Published 24 May, 2011 12:00am
Armed looters burn Sudan's disputed Abyei: UN

Armed looters burn Sudan's disputed Abyei: UN

Armed looters set fire to parts of Sudan's disputed Abyei border town on Monday, the United Nations said, days after north Sudanese troops seized it, pushing the north and south closer to conflict. North Sudan's army vowed to hold all the territory it too
Published 24 May, 2011 12:00am
Gambian court jails former army, navy chiefs

Gambian court jails former army, navy chiefs

A court in Gambia imposed 20 year jail sentences on Monday on the country's former army and navy chiefs after they were convicted of being involved in a foiled 2006 coup attempt. The case highlights constant security fears in the tiny West African nation.
Published 24 May, 2011 12:00am
Youth groups walk out of Egypt constitution talks

Youth groups walk out of Egypt constitution talks

Two of Egypt's most prominent youth groups walked out of a conference of national dialogue, saying members of ousted President Hosni Mubarak's party were using the meeting to try to return to political life. Many Egyptians fear members of the National Dem
Published 24 May, 2011 12:00am
Gunbattle in Yemen as transition deal collapses

Gunbattle in Yemen as transition deal collapses

Yemeni loyalist forces fought a gunbattle on Monday with opponents of entrenched President Ali Abdullah Saleh one day after he backed out of an accord for him to step down. The clashes in Sanaa cast further dimmed prospects for a political solution to a t
Published 24 May, 2011 12:00am
EU extends sanctions against Iran

EU extends sanctions against Iran

The European Union significantly extended its sanctions against Iran on Monday, reflecting mounting frustration over a lack of progress in nuclear talks with Tehran. EU foreign ministers agreed at a meeting in Brussels to add more than 100 new entities to
Published 24 May, 2011 12:00am
Saudi authorities re-arrest woman for driving

Saudi authorities re-arrest woman for driving

Saudi authorities have re-arrested an activist who defied a ban on female drivers in the conservative kingdom, a security official said Monday. Manal al-Sherif was accused of "violating public order" and ordered held for five days while the case is invest
Published 24 May, 2011 12:00am
Former IMF chief calls charges 'personal nightmare'

Former IMF chief calls charges 'personal nightmare'

Ex-IMF managing director Dominique Strauss-Kahn told former colleagues that the sexual assault charges against him were a "personal nightmare" and insisted he would be cleared. In an email dated Sunday and sent to International Monetary Fund staff around
Published 24 May, 2011 12:00am
Four Nato troops killed in Afghan east

Four Nato troops killed in Afghan east

A roadside bomb killed four service members from the Nato-led International Security Assistance Force (ISAF) in Afghanistan's volatile east on Monday, the coalition said in a statement, one of the worst attacks on foreign troops in recent weeks.
Published 24 May, 2011 12:00am
UK, US launch joint national security forum

UK, US launch joint national security forum

Britain and the United States are to create a new joint forum to assess long-term threats to their national security, a British government source said on Monday. The launch of the new national security strategy board is expected to be announced during US
Published 24 May, 2011 12:00am
Students ransack building in Burkina

Students ransack building in Burkina

Thousands of students demonstrated in Burkina Faso's capital on Monday in support of a teachers' strike over pay and class size, some of them breaking windows and ransacking offices at the education ministry. The normally peaceful West African cotton prod
Published 24 May, 2011 12:00am
Chile exhumes remains of late president Allende

Chile exhumes remains of late president Allende

Chile on Monday exhumed the remains of former president Salvador Allende, hoping to finally determine whether he committed suicide or was murdered during a 1973 coup. Officials hope that a forensic analysis of Allende's remains will resolve a decades-old
Published 24 May, 2011 12:00am
West to deploy helicopters in Libya: French source

West to deploy helicopters in Libya: French source

Western forces plan to use attack helicopters in Libya to help break a military stalemate with forces loyal to Muammar Qadhafi, a French diplomatic source said on Monday. Continued shelling of the rebel-held western outpost of Misrata illustrated the scal
Published 24 May, 2011 12:00am
Malaysian aid ship makes another attempt for Gaza

Malaysian aid ship makes another attempt for Gaza

A Malaysian aid ship that was warned off by Israeli naval forces from the Gaza Strip was attempting another landing Monday after being stranded in Egyptian waters for seven days, activists said. Matthias Chang, who is heading the mission for the Perdana G
Published 24 May, 2011 12:00am
Europe's particle collider smashes another record

Europe's particle collider smashes another record

The world's biggest particle collider set a new record early Monday, a feat that should accelerate the quest to pinpoint the elusive particle known as the Higgs Boson, a senior physicist said. "Last night, a symbolic frontier was crossed," said Michel Spi
Published 24 May, 2011 12:00am
'Pepco infrastructure suffered colossal loss due to windstorm'

'Pepco infrastructure suffered colossal loss due to windstorm'

The recent windstorm and thunderstorm and heavy rain has caused severe damage to the electricity infrastructure in Sahiwal, Bahawalpur and Multan division. The Federal Minister for Water and Power Syed Naveed Qamar and Managing Director Pepco Rasul Khan M
Published 24 May, 2011 12:00am
Amir Khan released on bail

Amir Khan released on bail

Mohajir Qaumi Movement (Haqiqi) leader Amir Khan was released from Central Jail on Monday, Aaj News reported. According to the channel, the Sindh High Court revoked the life term awarded to Amir and ordered his release on bail. MQM H leaders Afaq A
Published 24 May, 2011 12:00am
Clarification

Clarification

A news item appeared in a section of press with reference to some working submitted with the Engineering Development Board (EDB) by Pakistan Steel Melters Association on which we would like to comment as follows:
Published 24 May, 2011 12:00am
Australia sees good start to wheat crop, rains help

Australia sees good start to wheat crop, rains help

Australia, one of the world's top wheat exporting nations, is seeing a good start to the 2011/12 crop season as grain growers accelerate planting, helped by timely rains, farmers and industry analysts say. This solid start is in stark contrast to the nort
Published 24 May, 2011 12:00am
Shanghai copper slides

Shanghai copper slides

London copper fell more than 2 percent on Monday as a stronger dollar weighed on commodities, including oil, with worries about the eurozone crisis hammering the single currency to two-month lows versus the greenback. The third month contract on the Shang
Published 24 May, 2011 12:00am
Copper down on broad decline across

Copper down on broad decline across

Copper fell on Monday as part of a broad decline across asset classes, weighed down by eurozone debt worries and concerns that a cooling economy is crimping demand from top consumer China. Copper, used in power and construction, for delivery in three mont
Published 24 May, 2011 12:00am
Brent, crude fall

Brent, crude fall

Oil prices fell 2 percent on Monday as concerns about the eurozone sovereign debt crisis sent investors out of commodities and into safer havens. The Reuters-Jefferies CRB index, a global benchmark for commodities, lost 1 percent and equities dropped as t
Published 24 May, 2011 12:00am
Tokyo rubber futures rise

Tokyo rubber futures rise

Key Tokyo rubber futures rose on Monday as sentiment improved with firmness in other commodities markets and a steady yen. The key Tokyo Commodity Exchange rubber contract for October delivery rose 4.1 yen or 1 percent to 382.2 yen per kg as of 0024 GMT.
Published 24 May, 2011 12:00am
Malaysian palm oil falls

Malaysian palm oil falls

Malaysian palm oil futures fell more than 1 percent on Monday, as renewed worries about euro-one debt weighed on risk sentiment and helped push prices lower. The benchmark August crude palm oil contract on the Bursa Malaysia Derivatives exchange closed 1
Published 24 May, 2011 12:00am
Liffe cocoa hits six-month low

Liffe cocoa hits six-month low

Liffe September cocoa ended 23 pounds weaker at 1,822 pounds a tonne on Monday, just above a fresh six-month low for the benchmark second month of 1,820 pounds. Market weighed by broad-based losses in commodity markets and a pick-up in the pace of exports
Published 24 May, 2011 12:00am
Gold rises in Asia

Gold rises in Asia

Investors ditched the euro and turned to gold after Fitch cut Greece's debt ratings by three notches, pushing the country deeper into junk, while silver struggled to catch up with gains in bullion. In another sign that the continent's debt problems are es
Published 24 May, 2011 12:00am
Gold rallies to two-week high in European trade

Gold rallies to two-week high in European trade

Gold rallied to its highest in nearly two weeks on Monday after a raft of unsettling news on indebted eurozone nations such as Greece and Italy dented investor confidence. Spot gold rose by as much as 0.67 percent on the day to hit $1,517.49 an ounce, its
Published 24 May, 2011 12:00am
US MIDDAY: cocoa and sugar down

US MIDDAY: cocoa and sugar down

US cocoa futures closed at a 4-1/2-month low early on Monday as cocoa continued to flow out of top grower Ivory Coast after an export ban was lifted, while raw sugar also dropped. The key July raw sugar contract tumbled 0.90 cent, or 4 percent, to settle
Published 24 May, 2011 12:00am
US MIDDAY: grain futures climb

US MIDDAY: grain futures climb

US corn futures climbed nearly 1 percent on Monday, erasing an early decline on concerns that rainy weather will further delay Midwest crop seeding at a time when supplies are the tightest in 15 years. Soyabeans and wheat followed corn higher, overcoming
Published 24 May, 2011 12:00am
US MIDDAY: copper slides

US MIDDAY: copper slides

Copper dived 3 percent on Monday, its biggest one-day loss in nearly two weeks, as slowing manufacturing growth in China and a mounting debt crisis in Europe rattled commodity investors. In New York, the July COMEX contract sank 13.00 cents to settle at $
Published 24 May, 2011 12:00am
US MIDDAY: gold climbs

US MIDDAY: gold climbs

The price of gold climbed to its highest level in nearly two weeks on Monday after a raft of unsettling news on indebted eurozone nations such as Greece and Italy dented investor confidence. The precious metal maintained its positive tone even as the doll
Published 24 May, 2011 12:00am
Gilani links resolution of Kashmir issue with regional peace

Gilani links resolution of Kashmir issue with regional peace

Prime Minister Syed Yousuf Raza Gilani on Monday said regional peace could not be guaranteed until the resolution of the Kashmir issue. "Unless this core issue (Kashmir issue) is resolved, the dream of peace and harmony in the region can not come true," t
Published 24 May, 2011 12:00am
Three traders' organisations merged

Three traders' organisations merged

Three traders' organisations merged to form a new association Peshawar Traders' Alliance to wage joint struggle for the protection of the rights of trading community. The traders' organisation included Markazi Tanzeem-e-Tajiran, Peshawar Cantonment, Anjum
Published 24 May, 2011 12:00am
Government imposing taxes on agriculture inputs: SAB chairman

Government imposing taxes on agriculture inputs: SAB chairman

Abdul Majeed Nizamani, President of Sindh Abadgar Board, while addressing a press conference on Monday at Hyderabad Press Club, said that the government has been imposing taxes on agricultural inputs in the last few months without considering its overall
Published 24 May, 2011 12:00am
Call to unite against Western propaganda

Call to unite against Western propaganda

Iranian Consul General, Abbas Ali Abdullai has said that west has been raging a battle against Muslims declaring them as terrorists and at this critical moment, Muslims are needed to become united to overcome the situation. While inaugurating a photograph
Published 24 May, 2011 12:00am
Lawyers protest against killing of two advocates in Karachi

Lawyers protest against killing of two advocates in Karachi

The legal fraternity throughout the country on Monday observed protest boycott against killing of two advocates in Karachi on Saturday last on the call of Pakistan Bar Council, Punjab Bar Council and the Lahore High Court Bar Association.
Published 24 May, 2011 12:00am
KESC condemns subversive attacks

KESC condemns subversive attacks

The Karachi Electric Supply Company has faced intensified attacks by CBA Union at the utility's offices and assets on Monday morning. About 150 miscreants belonging to CBA Union and its external connivers led by Usman Baloch and Aziz surrounded the KESC's
Published 24 May, 2011 12:00am
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