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Print - 2011-07-07
Vietnam to delay rice stockpile due to high prices

Vietnam to delay rice stockpile due to high prices

Vietnamese rice exporters will delay for an indefinite period an industry plan to buy 1 million tonnes of milled summer-autumn paddy for a three-month stockpile due to high prices, state-run newspapers cited industry officials as saying on Wednesday.
Published 07 Jul, 2011 12:00am
Indonesia may import more rice to keep healthy stock levels

Indonesia may import more rice to keep healthy stock levels

Indonesia may import more rice this year to keep healthy stock levels after earlier saying it has enough of the food staple to avoid overseas purchases, and is awaiting a trade ministry permit to determine volumes, government officials said.
Published 07 Jul, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 46,670 tonnes of cargo including 25,000 tonnes of import cargo, 21,670 tonnes of export cargo and 2,892 loaded & empty containers during last 24 hours ended at 0700 hours on Wednesday. The total import cargo of 25,000 tonnes compr
Published 07 Jul, 2011 12:00am
Oil cake market rates

Oil cake market rates

Minor change was witnessed on the forward cottonseed oilcake market on Wednesday. The July contract that had closed at Rs 1426.60 opened with 10 paisa loss at Rs 1426.50. The December vaida which ended at Rs 1315.00 no change in the opening session, they
Published 07 Jul, 2011 12:00am
Cotton prices may dip below Rs 7,000 on high yield projections

Cotton prices may dip below Rs 7,000 on high yield projections

Prices fell further and may also touch an one-year old level if rates slide continues on the cotton market owing to good phutti arrivals, dealers said on Wednesday. The Karachi Cotton Association (KCA) official spot rate further was lowered after shedding
Published 07 Jul, 2011 12:00am
HRW wheat bids steady to firmer

HRW wheat bids steady to firmer

Hard red winter wheat basis bids were steady to firmer on Wednesday amid active harvesting and rolling of bids to post against September futures. Harvest of the new US HRW wheat crop was 56 percent completed as of July 3, according to a government report
Published 07 Jul, 2011 12:00am
Rates start moving higher on grain market

Rates start moving higher on grain market

Bullish sentiment was seen on the wholesale grain market on Wednesday in process of modest trading, dealers said. On the cereals side, masoor Canada was up by Rs 500 to Rs 6000 and masoor dal Canada followed the same pattern, gain Rs 1000 to Rs 7500, whea
Published 07 Jul, 2011 12:00am
World Bank managing director screened for Nigerian cabinet position

World Bank managing director screened for Nigerian cabinet position

World Bank managing director Ngozi Okonjo-Iweala appeared before Nigeria's Senate on Wednesday to be screened by lawmakers for a possible position in President Goodluck Jonathan's new administration. Government sources have said Okonjo-Iweala, a respected
Published 07 Jul, 2011 12:00am
AirAsia plans to boost Airbus deal

AirAsia plans to boost Airbus deal

AirAsia has drawn up plans to buy an extra 100 Airbus A320neo jets, potentially taking its record-breaking order to 300, a source with direct knowledge of ongoing discussions said. Such a deal would make the Malaysia-based low-cost airline one of the worl
Published 07 Jul, 2011 12:00am
Cyprus dismisses bailout

Cyprus dismisses bailout

Cyprus's finance minister on Wednesday dismissed suggestions the island may be a candidate for a bailout, saying its financing needs were minimal and had almost been met for the year. Financial website Stockwatch quoted Charilaos Stavrakis as saying Cypru
Published 07 Jul, 2011 12:00am
Canada's building permits jump

Canada's building permits jump

The value of building permits issued in Canada in May soared 20.9 percent, nearly erasing the steep 21.5 percent plunge in April thanks to non-residential plans, according to Statistics Canada data on Wednesday. Market operators had forecast a much more m
Published 07 Jul, 2011 12:00am
ADB, Swiss Re boost Asian trade financing

ADB, Swiss Re boost Asian trade financing

The Asian Development Bank (ADB) and reinsurer Swiss Re announced an agreement Wednesday to boost regional trade by guaranteeing financing risks for exporters and importer in poor countries. The guarantee means banks can be more comfortable lending to the
Published 07 Jul, 2011 12:00am
Republicans hammer Obama on debt talks eve

Republicans hammer Obama on debt talks eve

US President Barack Obama's Republican foes denounced his handling of cash-strapped Washington's debt woes Wednesday, on the eve of White House talks seeking a deal to avert an early August default. Republican Senate Minority Leader Mitch McConnell said t
Published 07 Jul, 2011 12:00am
Lagarde says will push on with IMF reforms

Lagarde says will push on with IMF reforms

New International Monetary Fund Managing Director Christine Lagarde pledged on Wednesday to push ahead with reforms to give fast-growing emerging markets greater sway at the global lender. At a news conference on her second day on the job, Lagarde said th
Published 07 Jul, 2011 12:00am
Taiwan inflation at highest level since 2008

Taiwan inflation at highest level since 2008

Taiwan said Wednesday inflation hit a two-and-a-half-year-high of 1.93 percent in June, on the back of higher fuel costs and a sharp rise in fruit prices after a health scandal. The year-on-year hike in the consumer price index - the highest since Novembe
Published 07 Jul, 2011 12:00am
WTO calls on EU to phase out crisis state aid

WTO calls on EU to phase out crisis state aid

The World Trade Organisation called on Wednesday on the European Union to phase out state aid to the private sector during the financial crises, so as not to hinder long-term restructuring. In its review of Brussels' trade policies, the WTO said the extra
Published 07 Jul, 2011 12:00am
US services growth slows, but silver lining in jobs

US services growth slows, but silver lining in jobs

Growth in the US economy's vast services sector remained sluggish in June as new orders fell, but economists said a steady employment reading pointed to job growth later in the year. Wednesday's picture of labour market conditions in the Institute for Sup
Published 07 Jul, 2011 12:00am
German industry orders rise; foreign demand drops

German industry orders rise; foreign demand drops

German industry orders rose in May, due mainly to big-ticket domestic purchases, but foreign demand dropped in a fresh sign the pace of growth in Europe's largest economy is set to ease. Orders rose 1.8 percent on the month in May, the Economy Ministry sa
Published 07 Jul, 2011 12:00am
Indonesian strike disrupts work at US mining giant

Indonesian strike disrupts work at US mining giant

Production at a major mine run by US firm Freeport McMoRan in Indonesia's Papua region was disrupted Wednesday as a strike by thousands of workers demanding better wages entered a third day. More than 8,000 workers have been protesting outside the company
Published 07 Jul, 2011 12:00am
Australia lifts ban on live cattle exports to Indonesia

Australia lifts ban on live cattle exports to Indonesia

Australia's government removed a month-long ban on live cattle exports to neighbouring Indonesia on Wednesday, saying it was satisfied the A$320 million trade could resume after a furore over mistreatment of livestock. The minority government has been und
Published 07 Jul, 2011 12:00am
China raises rates, shrugs off slowing growth

China raises rates, shrugs off slowing growth

China raised interest rates for the third time this year on Wednesday, making clear that taming inflation remains a top priority even as the growth pace of its vast economy gently eases. The 25-basis-point increase in lending and deposit rates underscored
Published 07 Jul, 2011 12:00am
Dubai World sheds property arms; names new CFO, MD

Dubai World sheds property arms; names new CFO, MD

Indebted conglomerate Dubai World shifted ownership of its troubled property units Nakheel and Limitless to the government, concluding a complex restructuring process, it said on Wednesday. The state-owned flagship firm also named Andy Watson as managing
Published 07 Jul, 2011 12:00am
EU slams ratings agencies after Portugal downgraded

EU slams ratings agencies after Portugal downgraded

European politicians accused credit rating agencies on Wednesday of anti-European bias after Moody's downgrade of Portugal's debt to "junk" cast new doubt on EU efforts to rescue distressed eurozone states without debt restructuring. European Commission P
Published 07 Jul, 2011 12:00am
South East Asian markets: Malaysia hits all-time high

South East Asian markets: Malaysia hits all-time high

Most Southeast Asian bourses fell on Wednesday as renewed debt worries in the eurozone hurt sentiment, with the initial buying spree in Thai stocks after last weekend's election stalling as the market waited for the formation of a new government. The sell
Published 07 Jul, 2011 12:00am
Australian shares rise

Australian shares rise

Australian shares rose 0.2 on Wednesday, boosted by gains in miners on higher metal prices but dragged by losses in top banks on concern funding costs could rise, further pressuring profit margins. Top banks all declined after Moody's cut Portugal's ratin
Published 07 Jul, 2011 12:00am
Hong Kong, China shares lower

Hong Kong, China shares lower

Chinese banks dragged shares in Hong Kong and Shanghai below key technical support levels on Wednesday after Singapore state investor Temasek Holdings (Private) Ltd sold off a combined $3.6 billion stake in two of the China's top banks. More weakness may
Published 07 Jul, 2011 12:00am
Wednesday's early afternoon trade: Wall Street bounces off session highs

Wednesday's early afternoon trade: Wall Street bounces off session highs

US stocks bounced off session highs on Wednesday after investors shrugged off a downgrade of Portugal's credit rating and an interest-rate hike in China. Transports ranked among the top advancers as the Dow Jones Transportation Average rose 1.4 percent to
Published 07 Jul, 2011 12:00am
US stocks mostly flat

US stocks mostly flat

US stocks ended a thinly traded session mostly flat on Tuesday as investors paused after last week's surge, though continually light volume suggested the market could encounter more choppy trading. The Nasdaq closed higher for its sixth straight day, help
Published 07 Jul, 2011 12:00am
Taiwan stocks higher

Taiwan stocks higher

Taiwan stocks closed 0.46 percent higher on Wednesday, with smartphone maker HTC climbing 3.3 percent ahead of its second-quarter earnings due later in the afternoon. The main TAIEX index rose 40 points to 8,824.44, after opening flat. LCD makers and elec
Published 07 Jul, 2011 12:00am
Treasuries rise

Treasuries rise

New worries that the most severe elements of Europe's debt crisis are in danger of spreading, including Portugal's first ratings downgrade to junk, rekindled US Treasuries' safe-haven appeal and ended a five-day selloff. Prices rose early on fears a plan
Published 07 Jul, 2011 12:00am
Treasuries rise

Treasuries rise

New worries that the most severe elements of Europe's debt crisis are in danger of spreading, including Portugal's first ratings downgrade to junk, rekindled US Treasuries' safe-haven appeal and ended a five-day selloff. Prices rose early on fears a plan
Published 07 Jul, 2011 12:00am
Indian shares fall

Indian shares fall

Indian shares fell for the second consecutive session and ended down 0.1 percent in choppy trade on Wednesday, taking cues from global markets and as investors held back from taking major positions ahead of upcoming quarterly results. Financials led the l
Published 07 Jul, 2011 12:00am
Nikkei rises to post-quake high

Nikkei rises to post-quake high

The Nikkei average rose to a post-quake high on Wednesday, gaining for a seventh session in its longest winning streak in two years, helped by continued buying by Asian and European investors and with worries fading about slower global growth.
Published 07 Jul, 2011 12:00am
Seoul shares up

Seoul shares up

Seoul shares rose on Wednesday, buoyed by strong foreign demand as gains in shipbuilders and insurance issues lent support. The Korea Composite Stock Price Index ended up 0.44 percent at 2,171.19 points, a sixth session of gains in a row. KOSPI 200 Septem
Published 07 Jul, 2011 12:00am
European shares snap winning streak

European shares snap winning streak

European shares snapped a seven-session winning streak on Wednesday after a Moody's downgrade of Portugal's sovereign credit to "junk" status fanned the flames of the eurozone debt crisis ahead of a regional interest rate-setting meeting. The European Cen
Published 07 Jul, 2011 12:00am
UK's top share index falls

UK's top share index falls

The FTSE 100's eight-day winning streak came to a halt on Wednesday as worries over debt contagion in Europe and the demand outlook in China hit banking and commodity stocks. Britain's top share index closed 21.11 points or 0.4 percent lower at 6,002.92,
Published 07 Jul, 2011 12:00am
Money markets: peripheral turmoil seen as threat to ECB rate cycle

Money markets: peripheral turmoil seen as threat to ECB rate cycle

Escalating credit concerns in the eurozone periphery on Wednesday were not seen denting the European Central Bank's intention to raise interest rates on Thursday, but left the outlook for further rate hikes this year hanging in the balance.
Published 07 Jul, 2011 12:00am
Australian and New Zealand dollars perk up

Australian and New Zealand dollars perk up

The Australian and New Zealand dollars drifted higher against the greenback on Wednesday, heartened by a modest recovery in the euro as a negative reaction to overnight news of Portugal's credit downgrade fizzled out. The Aussie dollar rose as high as $1.
Published 07 Jul, 2011 12:00am
Yuan flat

Yuan flat

The yuan closed nearly flat versus the dollar on Wednesday as the market took a wait-and-see attitude on how the People's Bank of China will pace the currency's appreciation amid signs of an economic slowdown. The yuan rose 1.94 percent against the dollar
Published 07 Jul, 2011 12:00am
Euro nudges up in Asia

Euro nudges up in Asia

The euro regained some ground on Wednesday as short-term players covered short positions ahead of a European Central Bank policy meeting, following a steep fall against the Swiss franc and the dollar after Moody's slashed Portugal's credit rating to junk.
Published 07 Jul, 2011 12:00am
Euro extends losses in London

Euro extends losses in London

The euro extended losses and commodity currencies fell on Wednesday after China raised rates for the third time this year, driving investors to shed exposure in riskier assets in a market already shaken by Portugal's rating being cut to junk. Investors cu
Published 07 Jul, 2011 12:00am
Midday trade in New York: euro remains down versus dollar

Midday trade in New York: euro remains down versus dollar

The euro slid for a second straight session against the US dollar on Wednesday as a Chinese interest rate hike raised global growth concerns in a market already rattled by a downgrade of Portugal's debt to junk. In midday New York trading, the euro was do
Published 07 Jul, 2011 12:00am
Euro ends six days rally

Euro ends six days rally

The euro fell against the dollar and the Swiss franc on Tuesday, snapping six straight days of gains, after Moody's cut Portugal's credit rating to junk. Weak eurozone data and concerns on China had already weighed on risk sentiment and boosted safe-haven
Published 07 Jul, 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 Wednesday. 74.27/74.31 (previous 74.28/74.29). Call Money Rates: 7.50-12.00 percent (previous 6.00-10.00 percent).
Published 07 Jul, 2011 12:00am
Swiss franc slips

Swiss franc slips

The Swiss franc slipped against the euro and was near flat versus the dollar on Wednesday, giving back some of the previous session's hefty gains against both currencies after broadening concerns over debt hit risk appetite. The franc was down 0.1 percent
Published 07 Jul, 2011 12:00am
Indian rupee weakens

Indian rupee weakens

The Indian rupee weakened in choppy Wednesday session, plunging from a two-month high touched against the dollar earlier, dragged by losses in the euro and China's rate hike. The partially convertible rupee ended at 44.4750/4850 per dollar, after touching
Published 07 Jul, 2011 12:00am
Won nears 34-month peak, peso climbs

Won nears 34-month peak, peso climbs

The Philippine peso hit a two-month high on Wednesday on views that the country may use the currency to fight inflation and the South Korean won flirted with a nearby 34-month peak as there was no sign Seoul was buying dollars. Demand by real money accoun
Published 07 Jul, 2011 12:00am
Sterling falls versus dollar

Sterling falls versus dollar

Sterling fell against a broadly firmer dollar on Wednesday, tracking losses in the euro versus the US currency as China's rate hike and eurozone peripheral debt worries led investors to dump risky currencies and seek safety in the greenback. Also dogging
Published 07 Jul, 2011 12:00am
Turkey jails seven in match-fixing probe

Turkey jails seven in match-fixing probe

Turkish court jailed seven people pending trial on Wednesday as part of a major match-fixing investigation which has cast a shadow over the country's multi-billion-dollar soccer league. The seven suspects, including the former chairmen of Diyarbakirspor a
Published 07 Jul, 2011 12:00am
Lancashire fined after Pakistan's Junaid Khan error

Lancashire fined after Pakistan's Junaid Khan error

English cricket county Lancashire have been fined £250 by England and Wales Cricket Board after an admin error meant Pakistan's fast bowler Junaid Khan was unregistered when he made his debut in both LV= County Championship and Friends Life T20 last month
Published 07 Jul, 2011 12:00am
Mexico, New Zealand bow out

Mexico, New Zealand bow out

New Zealand earned a dramatic 2-2 draw with Mexico after the equaliser came with the last kick of the Group B game as both teams took their bow at the women's World Cup. Mexico led 2-0 after 30 minutes thanks to Stephany Mayor and Maribel Dominguez, but t
Published 07 Jul, 2011 12:00am
England rest legs, Japan lick wounds

England rest legs, Japan lick wounds

England took a well deserved break Wednesday after reaching the women's World Cup quarter-finals as Group B toppers while second placed Japan were left to rue dropping their first points. England's 2-0 win over Japan on Tuesday to reach the last eight was
Published 07 Jul, 2011 12:00am
Players to blame for team's problems, says Intikhab Alam

Players to blame for team's problems, says Intikhab Alam

A small cabal of Pakistan's cricketers had interfered in the team's management, leaked confidential information and contributed to a divisive culture, the team's long-term manager has said. The team has been riven by controversy in the past three years wi
Published 07 Jul, 2011 12:00am
Li Na rejects government post

Li Na rejects government post

Li Na, the first Chinese Grand Slam singles title winner after her success at the French Open, rejected an offer to take up a government post - the latest in a series of rewards from her country. The 29-year-old returned to China to a hero's welcome after
Published 07 Jul, 2011 12:00am
Pakistan hockey matches rescheduled

Pakistan hockey matches rescheduled

The training camp of national senior hockey team is in progress in Amsterdam and players are learning finer points of the team under the able guidance of Dutch coach Michael Van Dan. The camp, which started from July 3 is a part of green shirts preparatio
Published 07 Jul, 2011 12:00am
Sri Lanka tour: White retains Twenty20 captaincy but dropped from ODIs

Sri Lanka tour: White retains Twenty20 captaincy but dropped from ODIs

Cameron White was retained Wednesday as captain of Australia's Twenty20 team for their upcoming tour of Sri Lanka but dropped from the One-day squad in what he said was "a kick in the guts". The 27-year-old has had a poor recent run of form and was replac
Published 07 Jul, 2011 12:00am
Cavendish bags 16th win as Hushovd keeps yellow

Cavendish bags 16th win as Hushovd keeps yellow

Britain's Mark Cavendish of HTC-Highroad claimed his 16th career win in the Tour de France when he powered to victory in the race's fifth stage on Wednesday. Norwegian Thor Hushovd, of the Garmin-Cervelo team, kept the race leader's yellow jersey after th
Published 07 Jul, 2011 12:00am
European clubs hunt for Asian bargains

European clubs hunt for Asian bargains

Europe's wealthy football clubs are sniffing around the hottest young talent in Asia as they scour the worldwide transfer market for prospects that will not break the bank. With many top sides baulking at hugely inflated prices for European players, clubs
Published 07 Jul, 2011 12:00am
Olympic joy at last for Pyeongchang and Asia

Olympic joy at last for Pyeongchang and Asia

Pyeongchang finally achieved their dream of hosting the Winter Olympics when they were awarded the 2018 edition at their third attempt. The South Korean candidate did it in style too as they needed just one round of voting by the 95 International Olympic
Published 07 Jul, 2011 12:00am
Turkish president approves new cabinet

Turkish president approves new cabinet

Turkey's president on Wednesday approved his new cabinet, including a minister to oversee Turkey's European Union bid, as the prime minister vowed to pursue economic stability, an active foreign policy and reforms to improve rights and freedoms. President
Published 07 Jul, 2011 12:00am
Japan grounds entire F-15 fighter fleet

Japan grounds entire F-15 fighter fleet

Japan has grounded its entire F-15 fighter fleet following the crash of one of the jets into the East China Sea, officials said Wednesday. Japan's Defence Ministry ordered the fleet to remain on the ground pending an investigation into the cause of the cr
Published 07 Jul, 2011 12:00am
Obama reverses military suicide letter policy

Obama reverses military suicide letter policy

President Barack Obama reversed Wednesday the longstanding US policy of not sending out condolence letters to the families of American troops who commit suicide while deployed in combat zones. Obama, in a written statement, said he had carried out an exte
Published 07 Jul, 2011 12:00am
Libyan rebels push towards Tripoli

Libyan rebels push towards Tripoli

Rebel fighters seized a village south of the Libyan capital and another group advanced towards Tripoli from the east on Wednesday in the biggest push in weeks towards Muammar Qadhafi's main stronghold. Rebels firing their rifles into the air in celebratio
Published 07 Jul, 2011 12:00am
Militants may try bomb implants to attack: US

Militants may try bomb implants to attack: US

Militants are showing renewed interest in using a surgically implanted bomb to blow up a commercial flight, though there is no indication an attack is imminent, a US security official said on Wednesday, citing new intelligence. US authorities have warned
Published 07 Jul, 2011 12:00am
Police arrest lawmakers in southern India

Police arrest lawmakers in southern India

Police say they have arrested about 50 people, including some lawmakers, during protests demanding the creation of a new state in southern India. Senior police official A.K. Khan says two state lawmakers and a member of Parliament were among those arreste
Published 07 Jul, 2011 12:00am
Saudi plane makes emergency landing in India

Saudi plane makes emergency landing in India

A Jeddah-bound Saudi Airlines plane made an emergency landing at an airport in southern India after the crew detected the smell of smoke, an airport official said. The plane, carrying around 210 passengers and crew, landed safely at Chennai airport, the o
Published 07 Jul, 2011 12:00am
Iran fires anti-ship missiles near key Gulf strait

Iran fires anti-ship missiles near key Gulf strait

Iran's elite Revolutionary Guards on Wednesday launched several anti-ship missiles near the strategic Strait of Hormuz, the country's Arabic-language television channel Al-Alam reported. The Guards fired two Khalij Fars (Persian Gulf) anti-ship missiles w
Published 07 Jul, 2011 12:00am
India's minister in Bangladesh amid 'anti-Indian' row

India's minister in Bangladesh amid 'anti-Indian' row

India's top diplomat arrived in Bangladesh on Wednesday keen to placate his hosts after comments by the prime minister last week calling many Bangladeshis "anti-Indian" caused uproar. External Affairs Minister S.M. Krishna said that New Delhi attached "th
Published 07 Jul, 2011 12:00am
Chinese to be taught in all Swedish schools

Chinese to be taught in all Swedish schools

Within a decade, all Swedish primary schools should offer Chinese lessons, Sweden's education minister was quoted as saying Wednesday, insisting the move was needed to improve competitiveness. "I want to see Sweden become the first country in Europe to in
Published 07 Jul, 2011 12:00am
Opposition-led strike in Bangladesh turns violent

Opposition-led strike in Bangladesh turns violent

At least 50 people were injured in Bangladesh in clashes between protesters and police on Wednesday, the first day of a two-day strike called by opposition parties to protest against the abolition of a system of holding national elections under a non-part
Published 07 Jul, 2011 12:00am
Ukraine's Tymoshenko expelled from stormy trial

Ukraine's Tymoshenko expelled from stormy trial

The judge in the trial of Yulia Tymoshenko on Wednesday expelled the charismatic Ukrainian ex-prime minister from court after a stormy session that saw scuffles between her supporters and the police. Judge Rodion Kireyev expelled Tymoshenko from the court
Published 07 Jul, 2011 12:00am
Iran and Iraq ink accords, vow to put past behind

Iran and Iraq ink accords, vow to put past behind

Baghdad and Tehran pledged on Wednesday to strengthen ties and put the past behind them, even as Washington accuses Iran of supplying new and more lethal weapons to anti-US militias. Iran and Iraq, which fought a 1980-1988 war that was one of the bloodies
Published 07 Jul, 2011 12:00am
Ahmadinejad opposes sex segregation at universities

Ahmadinejad opposes sex segregation at universities

Iran's President Mahmoud Ahmadinejad on Wednesday ordered the immediate cancellation of plans to segregate sexes at some universities, blasting the move as "shallow and unwise," his website reported. "In some universities, single-gender courses and classe
Published 07 Jul, 2011 12:00am
Filipino officials ban Chinese diplomat amid spat

Filipino officials ban Chinese diplomat amid spat

Philippine officials have banned a senior Chinese diplomat from meetings for alleged rude behaviour, in the latest fallout from a feud over the potentially oil-rich Spratly Islands, officials said. Department of Foreign Affairs officials said Tuesday that
Published 07 Jul, 2011 12:00am
Cameron backs phone hacking probe

Cameron backs phone hacking probe

Prime Minister David Cameron promised an inquiry on Wednesday into a "disgusting" phone hacking scandal at Rupert Murdoch's News International that has outraged Britain and cast a shadow over the mogul's plans to buy control of broadcaster BSkyB.
Published 07 Jul, 2011 12:00am
Bahrain jails three for spying for Iran

Bahrain jails three for spying for Iran

Bahrain has sentenced one of its citizens and two foreigners to 10 years in prison for spying for Iran's Revolutionary Guards, Akhbar al-Khaleej newspaper reported on Wednesday. Bahrain's high criminal court sentenced "three defendants to 10 years in pris
Published 07 Jul, 2011 12:00am
Japan considers stress tests for nuclear reactors

Japan considers stress tests for nuclear reactors

Japan's government is considering conducting stress tests on nuclear reactors to ease safety concerns which have blocked the restart of idled reactors since the March quake and tsunami, but is likely to delay the nation's first nuclear restart since the d
Published 07 Jul, 2011 12:00am
Private guards outnumber police worldwide

Private guards outnumber police worldwide

Private security companies employ up to 25.5 million people across the world, exceeding the number of police officers, and hold up to 3.7 million firearms, a survey said Wednesday. "The global trend towards downsizing government, including public security
Published 07 Jul, 2011 12:00am
Syrian forces round up dozens in Hama

Syrian forces round up dozens in Hama

Syrian forces rounded up dozens of people around Hama on Wednesday, a day after shooting dead 22 people, activists said, and Amnesty International said Syria may have committed crimes against humanity in an earlier crackdown.
Published 07 Jul, 2011 12:00am
9/11 'mastermind' accused of Aramco attack plan

9/11 'mastermind' accused of Aramco attack plan

The alleged mastermind of the 9/11 attacks, Khalid Sheikh Mohammed, also plotted to attack Saudi state oil giant Aramco, the kingdom's attorney general said at a hearing in the trial of al Qaeda suspects. Mohammed and alleged co-conspirator Ramzi Binalshi
Published 07 Jul, 2011 12:00am
Afghanistan transition 'train' steaming ahead: UN

Afghanistan transition 'train' steaming ahead: UN

Security generally is improving in Afghanistan, making it a favourable time to transfer power to the Kabul government and hold peace talks with the Taliban, the UN special envoy to the country said Wednesday. International diplomat Staffan de Mistura decl
Published 07 Jul, 2011 12:00am
Departure of second Gaza aid boat thwarted

Departure of second Gaza aid boat thwarted

A second boat of pro-Palestinian campaigners which had expected to set sail for Gaza Wednesday was forced to remain in Greece, leaving a lone yacht at sea out of an intended flotilla of 10. The "Juliano", flying a Sierra Leonean flag and hired by Greek, N
Published 07 Jul, 2011 12:00am
New York cotton remains down

New York cotton remains down

Cotton futures finished lower on Wednesday as the market fell for the fifth session in a row as soft commercial demand and a rate increase in top consumer China undermined the market and could point to further losses in fibre contracts, brokers said. The
Published 07 Jul, 2011 12:00am
US copper stays up

US copper stays up

Copper closed up for a sixth straight day on Tuesday, charging to its loftiest in more than two months, as supply threats in Chile and upbeat US data added fuel to the rally. The near one-percent gain in the copper price bucked the typical bearish impact
Published 07 Jul, 2011 12:00am
Shanghai copper rises

Shanghai copper rises

The most-active September copper contract on the Shanghai Futures Exchange rose 0.6 percent to close at 70,770 yuan per tonne on Wednesday. Prices were being supported by supply disruptions in Chile and Indonesia. An unusually severe winter storm has hit
Published 07 Jul, 2011 12:00am
Copper declines

Copper declines

Copper fell on Wednesday after China raised interest rates and Moody's downgraded Portugal's debt to "junk", but supply disruptions at some of the world's top copper mines kept a floor under prices. Three-month copper on the London Metal Exchange closed a
Published 07 Jul, 2011 12:00am
Oil flat, buffeted by demand worry as volume ebbs

Oil flat, buffeted by demand worry as volume ebbs

Oil prices stayed near flat on Wednesday, buffeted in low-volume trade as an interest rate hike by China and Europe's debt woes kept demand concerns in focus ahead of weekly reports expected to show a drop in US crude stocks. China's rate rise, the third
Published 07 Jul, 2011 12:00am
Tokyo and Shanghai rubber rise

Tokyo and Shanghai rubber rise

Key Tokyo rubber futures rose to a three-week high on Wednesday, supported by other commodities markets which rallied the day before on views a second-quarter slump was overdone, but trading was expected to be rangebound given a lack of fresh incentives.
Published 07 Jul, 2011 12:00am
Malaysian palm hits new eight-month low

Malaysian palm hits new eight-month low

Malaysian palm oil futures fell on Wednesday and hit a new eight-month low as investors factored in a higher output cycle and worries about weaker demand in the second half of the year. The benchmark September crude palm oil contract on Bursa Malaysia De
Published 07 Jul, 2011 12:00am
New York cocoa at two-month top

New York cocoa at two-month top

US cocoa soared above its long-term moving averages to close at a two-month peak on Tuesday, while raw sugar also finished firm, paring losses after hitting a contract high on concern about a smaller Brazilian crop. Arabica coffee futures also finished st
Published 07 Jul, 2011 12:00am
Liffe sugar lower

Liffe sugar lower

Liffe August white sugar ended $1.20 lower at $770.10 a tonne on Wednesday. Market retreated from the prior session's contract high with prices weighed by China sales as well as macroeconomic concerns after China raised interest rates and Portugal's credi
Published 07 Jul, 2011 12:00am
US gold hits 1-1/2 week high

US gold hits 1-1/2 week high

Gold prices shot up to a 1-1/2-week high on Tuesday , as risk-averse investors bought the precious metal on concerns about the Chinese economic outlook, the Greek debt crisis and a Moody's downgrade of Portugal's debt. Spot gold rose to $1,515.19 an ounce
Published 07 Jul, 2011 12:00am
Gold jumps in Asia

Gold jumps in Asia

Spot gold rose to a 1-1/2-week high on Wednesday, supported by a weaker dollar and renewed worries about the eurozone's debt problem after Moody's slashed Portugal's credit rating to junk. Spot gold rose to $1,518.44, its highest since June 24, before eas
Published 07 Jul, 2011 12:00am
Gold hits two-week high in European trade

Gold hits two-week high in European trade

Gold prices hit a two-week high on Wednesday, extending the previous session's 1.3 percent rise, as a rate hike from China put inflation concerns back in the spotlight, and as worries over eurozone and US debt lifted the metal's haven appeal. Spot gold wa
Published 07 Jul, 2011 12:00am
US MIDDAY: soft commodities down

US MIDDAY: soft commodities down

Soft commodity futures reeled Wednesday from investor sales rekindled by Portugal's credit downgrade and China's interest rate rise in a largely slow session. Sugar, cocoa and coffee futures posted losses although they were all pared late in the session b
Published 07 Jul, 2011 12:00am
US MIDDAY: wheat drops

US MIDDAY: wheat drops

US wheat futures fell on Wednesday, one day after notching their biggest gain in seven weeks, as traders locked in profits due to seasonal harvest pressure and concerns that the recent price declines have failed to generate much interest on the export mar
Published 07 Jul, 2011 12:00am
US MIDDAY: copper down

US MIDDAY: copper down

Copper closed lower early on Wednesday, snapping a six-day rally that saw prices touch their highest since late April, as another rate hike in China and further debt troubles in Europe lessened risk appetite. In New York, the key September COMEX contract
Published 07 Jul, 2011 12:00am
US MIDDAY: gold soars

US MIDDAY: gold soars

Gold prices rose for a third day to the highest in two weeks on Wednesday, as a rate hike in China put inflation concerns back in the spotlight, and as worries over eurozone debt stoked safe haven buying. After rising in tandem with oil and grains a day a
Published 07 Jul, 2011 12:00am
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