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Print - 2011-07-28
Argentina allows export of 450,000 tonnes of wheat

Argentina allows export of 450,000 tonnes of wheat

Argentina's government approved the export of another 450,000 tonnes of 2010/11 wheat on Tuesday, saying farmers had declared additional stocks. Argentina is a major wheat exporter, but the government restricts international shipments to ensure domestic s
Published 28 Jul, 2011 12:00am
Buyers boycott Bangladesh tea auction in protest over tax

Buyers boycott Bangladesh tea auction in protest over tax

Buyers boycotted the weekly tea auction in Bangladesh on Tuesday in protest against the imposition of a new tax by the government, brokers and traders said. "Buyers refrained from participating in the auction in protest over a newly imposed tax at source
Published 28 Jul, 2011 12:00am
Kenya's first half tea exports down on poor rainfall

Kenya's first half tea exports down on poor rainfall

Kenya's tea production for the first half of the year fell 16 percent year on year due to hot and dry weather and poorly distributed rainfall in tea growing areas, sending exports lower, the tea board said on Wednesday. Tea output fell to 178.4 million kg
Published 28 Jul, 2011 12:00am
Canadian canola futures rally off three-week low

Canadian canola futures rally off three-week low

ICE Canadian canola futures rallied off a three-week low on Tuesday, following US grains and soya higher, traders said. Soyabeans and corn gained on heat threat to US crops, spilling over support to canola. Warm Canadian Prairie weather with some showers
Published 28 Jul, 2011 12:00am
Asian wheat buyers to step up buying after June slowdown

Asian wheat buyers to step up buying after June slowdown

Asian wheat buyers are likely to boost purchases to cover supplies for September and October after a slowdown in buying since June on volatile prices, traders said on Wednesday. Indonesia is expected to buy 150,000 tonnes for September, and 200,000 tonnes
Published 28 Jul, 2011 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 94,358 tonnes of cargo including 53,536 tonnes of import cargo, 40,822 tonnes of export cargo and 2,416 loaded & empty containers during last 24 hours ended at 0700 hours on Wednesday. The total import cargo of 53,536 tonnes compr
Published 28 Jul, 2011 12:00am
Oil cake market rates

Oil cake market rates

Falling trend was seen on the forward cottonseed oilcake market on Wednesday in process of trading, dealers said. The December contract That had ended at Rs 1316.20 commenced with a fall of 50 paisa at Rs 1315.70. The January vaida which started at Rs 119
Published 28 Jul, 2011 12:00am
Prices up as growers show no interest in selling at lower rates

Prices up as growers show no interest in selling at lower rates

Growers' strategy not to sell cotton at lower-than-expected levels boosted the spot rate and prices in ready business on the cotton market on Wednesday, dealers said The Karachi Cotton Association (KCA) official spot rate was raised by Rs 200 to Rs 5200,
Published 28 Jul, 2011 12:00am
Downward trend in prices witnessed on grain market

Downward trend in prices witnessed on grain market

Bearish sentiment was seen on the wholesale grain market on Wednesday as many commodities tended lower particularly wheat prices continued fall in process of trading, dealers said. On the cereal side, most of the items fell, particularly wheat continued d
Published 28 Jul, 2011 12:00am
Peugeot, Nissan smarting after Japan quake

Peugeot, Nissan smarting after Japan quake

Car makers showed the impact of the Japan disaster with France's PSA Peugeot Citroen warning 2011 profits would be hit and Japan's Nissan Motor posting a 10 percent profit fall. The earthquake and tsunami that devastated Japan in March had a knock-on effe
Published 28 Jul, 2011 12:00am
Peugeot, Nissan smarting after Japan quake

Peugeot, Nissan smarting after Japan quake

Car makers showed the impact of the Japan disaster with France's PSA Peugeot Citroen warning 2011 profits would be hit and Japan's Nissan Motor posting a 10 percent profit fall. The earthquake and tsunami that devastated Japan in March had a knock-on effe
Published 28 Jul, 2011 12:00am
Russia faces crisis if Putin returns: Kremlin advisers

Russia faces crisis if Putin returns: Kremlin advisers

Russia faces a massive crisis including economic collapse and social tensions if Vladimir Putin rather than Dmitry Medvedev stands in presidential polls, two Kremlin advisers warned Wednesday. In the most vocal call yet for President Medvedev to seek a se
Published 28 Jul, 2011 12:00am
IMF warns France on deficit, slowing growth

IMF warns France on deficit, slowing growth

France will probably need extra action to cut its public deficit in 2012 and 2013 as falling growth threatens to complicate economic recovery, the International Monetary Fund said on Wednesday. The IMF forecast that growth in France, the eurozone's second
Published 28 Jul, 2011 12:00am
India's mining scam 'caused $3.6 billion loss to government'

India's mining scam 'caused $3.6 billion loss to government'

An Indian judge investigating corrupt mining practices in a resource-rich southern state said Wednesday that illegal extraction had cost the public $3.6 billion. He accused politicians in Karnataka, including the state's chief minister B.S. Yeddyurappa, o
Published 28 Jul, 2011 12:00am
Chasm between US black, white wealth biggest ever

Chasm between US black, white wealth biggest ever

The wealth gap between whites and minorities in the United States has reached the widest in a quarter century after the economic crisis hit nonwhites the hardest, a study released on Tuesday showed. The median wealth of white households is 20 times greate
Published 28 Jul, 2011 12:00am
Nasdaq chief dampens merger speculation

Nasdaq chief dampens merger speculation

Nasdaq OMX Group Chief Executive Robert Greifeld dampened speculation that his exchange would jump back into the global merger frenzy, cautioning on Wednesday that it could be tough to extract value from such an investment. On a public conference call dis
Published 28 Jul, 2011 12:00am
Conflicting statements cast doubt on eurozone deal

Conflicting statements cast doubt on eurozone deal

Contrasting statements by eurozone politicians to domestic audiences have underlined the fragility of last week's deal to rescue Greece and unsettled financial markets already on edge because of the US debt impasse. Greek Prime Minister George Papandreou
Published 28 Jul, 2011 12:00am
US manufactured goods demand sinks, businesses wary

US manufactured goods demand sinks, businesses wary

Demand for long-lasting US manufactured goods fell in June and a gauge of business spending plans slipped, supporting views that the economy will not emerge quickly from its current soft patch. Weak receipts for transportation equipment pushed down durabl
Published 28 Jul, 2011 12:00am
German inflation hits three-month high

German inflation hits three-month high

German inflation hit a three-month high this month after an unexpectedly strong upward push from oil prices, data showed on Wednesday, adding pressure for a further European Central Bank interest rate rise this year. Preliminary data from Germany's statis
Published 28 Jul, 2011 12:00am
Bangladesh trade deficit yawns

Bangladesh trade deficit yawns

Bangladesh's trade deficit widened 49 percent to $7.69 billion in the 2010-11 fiscal year that ended in June from $5.15 billion the year before due to soaring fuel and food import costs, the central bank said on Wednesday. The central bank said it expecte
Published 28 Jul, 2011 12:00am
Boeing profit rises; shares rally

Boeing profit rises; shares rally

Boeing Co's quarterly profit beat expectations as operating margins improved and it contained costs, sending shares of the company higher. The world's largest aerospace and defence company also raised its 2011 earnings forecast, but the range it gave was
Published 28 Jul, 2011 12:00am
Boeing profit rises; shares rally

Boeing profit rises; shares rally

Boeing Co's quarterly profit beat expectations as operating margins improved and it contained costs, sending shares of the company higher. The world's largest aerospace and defence company also raised its 2011 earnings forecast, but the range it gave was
Published 28 Jul, 2011 12:00am
Moody's profit beats estimates

Moody's profit beats estimates

Moody's Corp, owner of one of the three major debt-rating agencies, reported a 56 percent rise in second-quarter profit, but cautioned that the second half of the year would be difficult. The company, which was sending a top executive to testify in Washin
Published 28 Jul, 2011 12:00am
Moody's profit beats estimates

Moody's profit beats estimates

Moody's Corp, owner of one of the three major debt-rating agencies, reported a 56 percent rise in second-quarter profit, but cautioned that the second half of the year would be difficult. The company, which was sending a top executive to testify in Washin
Published 28 Jul, 2011 12:00am
Lehman's 'flip' appeal flops in landmark ruling

Lehman's 'flip' appeal flops in landmark ruling

A subsidiary of fallen Wall Street bank Lehman Brothers lost its final battle to overturn a key UK ruling over a swap dispute with Australian creditors in a decision dubbed a "game changer" by lawyers. The UK's Supreme Court unanimously upheld previous UK
Published 28 Jul, 2011 12:00am
Iraq and Italy sign preliminary refinery pact

Iraq and Italy sign preliminary refinery pact

Iraq's oil ministry has inked a preliminary pact with an Italian group for a refinery to produce 200,000 barrels per day of gasoline and diesel fuel for the domestic market, an official said. "This is a six-month contract with the Karbala Refinery Corpora
Published 28 Jul, 2011 12:00am
Santander takes UK insurance claims

Santander takes UK insurance claims

Spain's Banco Santander SA took a surprise hit to cover mis-selling of UK insurance policies, cleaning up its British arm's balance sheet ahead of an expected flotation next year. The eurozone's biggest bank took a charge of 620 million euros ($901 millio
Published 28 Jul, 2011 12:00am
Rival US debt plans in doubt, alternatives sought

Rival US debt plans in doubt, alternatives sought

Republicans and Democrats rushed to rework rival deficit reduction plans on Wednesday, but with the fate of both proposals heavily in doubt top lawmakers pursued a behind-the-scenes compromise to avert a crippling US debt default. With the deadline less t
Published 28 Jul, 2011 12:00am
Rival US debt plans in doubt, alternatives sought

Rival US debt plans in doubt, alternatives sought

Republicans and Democrats rushed to rework rival deficit reduction plans on Wednesday, but with the fate of both proposals heavily in doubt top lawmakers pursued a behind-the-scenes compromise to avert a crippling US debt default. With the deadline less t
Published 28 Jul, 2011 12:00am
Most Gulf bourses decline

Most Gulf bourses decline

Egypt's bourse fell for a seventh session on mounting political tension on Wednesday ahead of former President Hosni Mubarak's trial, and most Gulf markets fell amid global uncertainty. In Egypt, the latest in a series of mass protests, has been scheduled
Published 28 Jul, 2011 12:00am
Nikkei average falls

Nikkei average falls

The Nikkei stock average fell on Wednesday as concerns mount over a deadlock in talks to raise the US debt ceiling, but expectations of improved Japanese corporate earnings could help it stay near four-month highs. With US lawmakers sharply divided over h
Published 28 Jul, 2011 12:00am
Wednesday's early afternoon trade: Wall Street slides

Wednesday's early afternoon trade: Wall Street slides

Wall Street fell on Wednesday as troubling signs from US corporations and falling demand for long-lasting manufactured goods discouraged investors already nervous about faltering debt talks in Washington. A profit warning from Juniper Networks, which sent
Published 28 Jul, 2011 12:00am
Debt talks buffet stocks; chipmakers shine

Debt talks buffet stocks; chipmakers shine

The stalemate in US debt talks dragged down stocks for a second day on Tuesday, and light volume showed investors remained reluctant to make bets despite another round of healthy earnings. Declining issues solidly outpaced advancing ones, even though majo
Published 28 Jul, 2011 12:00am
Debt talks buffet stocks; chipmakers shine

Debt talks buffet stocks; chipmakers shine

The stalemate in US debt talks dragged down stocks for a second day on Tuesday, and light volume showed investors remained reluctant to make bets despite another round of healthy earnings. Declining issues solidly outpaced advancing ones, even though majo
Published 28 Jul, 2011 12:00am
Taiwan stocks at three-week high

Taiwan stocks at three-week high

Taiwan stocks rose 0.26 percent to a three-week closing high on Wednesday, though Formosa Plastics fell on concerns over the effect of a small fire at a complex operated by parent Formosa Plastics Group. Apple suppliers, such as Catcher Technology and Gen
Published 28 Jul, 2011 12:00am
Treasuries climb

Treasuries climb

US Treasuries prices rose on Tuesday as US stock market declines renewed the safe-haven bid for bonds despite nagging worries over a possible US default that could slam the value of government debt. Fears the government will run out of cash by August 2 if
Published 28 Jul, 2011 12:00am
Treasuries climb

Treasuries climb

US Treasuries prices rose on Tuesday as US stock market declines renewed the safe-haven bid for bonds despite nagging worries over a possible US default that could slam the value of government debt. Fears the government will run out of cash by August 2 if
Published 28 Jul, 2011 12:00am
Indian shares stay lower

Indian shares stay lower

Indian shares fell for the second session on Wednesday, with financials under pressure, and investors stayed cautious on expectations of more monetary tightening after the central bank's aggressive rate increase on Tuesday. Equities were weak globally on
Published 28 Jul, 2011 12:00am
Hong Kong shares dip; Shanghai index rises

Hong Kong shares dip; Shanghai index rises

China shares got a lift from property developers while the Hong Kong market slipped as insurers fell and the continuing gridlock in the US debt talks weighed on turnover. The lack of progress on nailing a way to raise the US debt ceiling and address the b
Published 28 Jul, 2011 12:00am
South East Asian markets: Indonesia sets fresh all-time high

South East Asian markets: Indonesia sets fresh all-time high

Southeast Asian stock markets pushed higher in moderate volume on Wednesday as optimism over earnings helped lift appetite for financial stocks and big-caps although the deadlock in the US debt talks remained a worry. Stocks in Indonesia set fresh all-tim
Published 28 Jul, 2011 12:00am
Seoul shares stage comeback

Seoul shares stage comeback

Seoul shares rebounded from early losses to close up 0.3 percent on Wednesday, helped by LG Electronics turning higher in afternoon trade following its second quarter results. "Views that (LG Elec) results weren't that bad helped relieve pressure over the
Published 28 Jul, 2011 12:00am
European shares end at one-week low

European shares end at one-week low

European shares fell to a one-week closing low on Wednesday, led by banks on concerns a stalemate in talks over the US debt ceiling could trigger a default or rating cut, and on persistent fears of contagion in the eurozone debt crisis. Banks were the wor
Published 28 Jul, 2011 12:00am
UK's top share index falls

UK's top share index falls

Financials led Britain's top share index lower on Wednesday, on concerns that deeply-divided US lawmakers would fail to agree to a deal to avoid a default on the country's debts. The UK benchmark index closed 73.15 points, or 1.2 percent lower at 5,856.58
Published 28 Jul, 2011 12:00am
Aussie dollar cracks 29-year peak

Aussie dollar cracks 29-year peak

The Aussie tore to a 29-year peak against a depressed US dollar on Wednesday, while debt futures slumped as an alarmingly high inflation report put a rate hike back on the agenda for this year. The Aussie shot up more than a cent to $1.1063, cracking the
Published 28 Jul, 2011 12:00am
Sterling dips

Sterling dips

Sterling dipped slightly on Wednesday after disappointing UK factory data, but remained within sight of a six-week high versus a weak dollar and looked set to retain support in the absence of a deal to raise the US debt ceiling. The pound was down 0.2 per
Published 28 Jul, 2011 12:00am
Dollar sinks in Asia

Dollar sinks in Asia

The dollar sank to a three-month low against a basket of major currencies on Wednesday as markets fretted about the prospect of a US debt default and downgrade, while they cautiously waited to see if Japan would intervene to weaken the yen. Traders bettin
Published 28 Jul, 2011 12:00am
Dollar slides in London

Dollar slides in London

The dollar hit a record low against the Swiss franc and a four-month low against the yen on Wednesday and was poised for further losses as talks aimed at averting a US debt ratings downgrade or default remained deadlocked. With Democrat and Republican law
Published 28 Jul, 2011 12:00am
Midday trade in New York: dollar springs back

Midday trade in New York: dollar springs back

The dollar rebounded on Wednesday as investors took a respite from selling it given no fresh news on US debt negotiations, though uncertainty around the talks should keep the rally short-lived. In midday New York trading, the dollar was little changed ver
Published 28 Jul, 2011 12:00am
Dollar drops broadly

Dollar drops broadly

The dollar dropped broadly on Tuesday and investors expected it to continue to depreciate as long as US lawmakers fail to reach a compromise on a budget plan to prevent the country from defaulting on its debt. The dollar hit a record low against the Swiss
Published 28 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. 74.66/74.75 (previous 74.62/74.69). Call Money Rates: 7.50-11.00 percent (previous 8.00-12.00 percent).
Published 28 Jul, 2011 12:00am
Yuan falls

Yuan falls

The yuan closed lower against the dollar on Wednesday after hitting an all-time high for a sixth straight trading day, as the People's Bank of China took advantage of a weak dollar to engineer further appreciation in the Chinese currency. Spot yuan closed
Published 28 Jul, 2011 12:00am
Indian rupee retreats

Indian rupee retreats

The Indian rupee pulled back from a near three-year high on Wednesday, dragged by a retreating euro on renewed concerns on Greece's debt crisis, chipping away comfort from central bank's dollar-inflow boosting hefty rate increase on Tuesday. The partially
Published 28 Jul, 2011 12:00am
Singapore dollar, ringgit soar

Singapore dollar, ringgit soar

Hedge funds resumed adding exposure to emerging Asian currencies on Wednesday, sending the Singapore dollar to another record and the Malaysian ringgit to its strongest since the region's 1997/98 financial crisis, as fears of a looming US debt default pul
Published 28 Jul, 2011 12:00am
Money markets: banks jump for cash before Greek debt swap

Money markets: banks jump for cash before Greek debt swap

European banks increased their demand for three-month cash from the European Central Bank on Wednesday, with analysts saying they were starting to prepare for losses their counterparties may take as part of a looming Greek debt swap plan. Eurozone policym
Published 28 Jul, 2011 12:00am
Southeast Asian navies seek closer ties amid sea spat

Southeast Asian navies seek closer ties amid sea spat

Southeast Asian naval chiefs pledged closer co-operation on Wednesday as they held their first formal talks amid regional concern over China's activities in the South China Sea. Competing claims to the potentially oil-rich Paracel and Spratly island group
Published 28 Jul, 2011 12:00am
Three injured in Turkey quake

Three injured in Turkey quake

Three people were injured when they jumped out of buildings in panic after an earthquake measuring 5.0 on the Richter scale hit central Turkey Wednesday, a local official told Anatolia news agency. The epicentre of the tremor was at the Ilgin district in
Published 28 Jul, 2011 12:00am
Storm kills 25 in Philippines

Storm kills 25 in Philippines

At least 25 people were killed and as many as 31 others went missing as a slow-moving tropical storm dumped enormous amounts of rain across the Philippines' main island, authorities said Wednesday. Nock-ten, named after a Laotian bird, was expected to cau
Published 28 Jul, 2011 12:00am
Syrian forces kill 11 in 'vengeance' raid

Syrian forces kill 11 in 'vengeance' raid

Syrian forces pursued a deadly crackdown on anti-regime dissent Wednesday, killing 11 people in a "vengeance" raid near Damascus and arresting hundreds outside the capital, activists said. The latest violence came as some 200 Syrian youth activists opened
Published 28 Jul, 2011 12:00am
Abbas urges Palestinian protest to support UN bid

Abbas urges Palestinian protest to support UN bid

President Mahmoud Abbas urged Palestinians on Wednesday to step up peaceful protests against Israel, urging "popular resistance" inspired by the Arab Spring to back a diplomatic offensive at the United Nations. Abbas, addressing a Palestine Liberation Org
Published 28 Jul, 2011 12:00am
36 killed as torrential rains hit South Korea

36 killed as torrential rains hit South Korea

At least 36 people were killed and dozens missing Wednesday after the heaviest rains in decades pounded South Korea, triggering landslides and inundating hundreds of homes. As main roads turned to rivers of churning, muddy water, the National Emergency Ma
Published 28 Jul, 2011 12:00am
Norway's Prime Minister announces massacre probe

Norway's Prime Minister announces massacre probe

Norway's prime minister announced an independent review on Wednesday tasked with drawing lessons from last week's massacre as it emerged that police efforts to apprehend the gunman were hit by engine trouble. Amid growing criticism over why it took office
Published 28 Jul, 2011 12:00am
ISS to be sunk after 2020

ISS to be sunk after 2020

Russia and its partners plan to plunge the International Space Station (ISS) into the ocean at the end of its life cycle after 2020 so as not to leave space junk, its space agency said Wednesday. "After it completes its existence, we will be forced to sin
Published 28 Jul, 2011 12:00am
UBS sued over $900 million Fannie/Freddie loss

UBS sued over $900 million Fannie/Freddie loss

UBS AG was sued by the conservator for Fannie Mae and Freddie Mac, which accused the Swiss bank of misleading the housing agencies into buying risky mortgage debt, resulting in more than $900 million of losses. The lawsuit by the Federal Housing Finance A
Published 28 Jul, 2011 12:00am
US missile destroyed after flight anomaly

US missile destroyed after flight anomaly

An unarmed Minuteman 3 intercontinental ballistic missile was destroyed over the Pacific Ocean early Wednesday, minutes after it blasted out of a California coast underground silo on a flight to test the weapon's reliability, the Air Force said.
Published 28 Jul, 2011 12:00am
Three civilians killed by French soldier

Three civilians killed by French soldier

Three Afghan civilians were shot dead and three others wounded when a French soldier opened fire on their vehicle in Kapisa province, north of the capital, French military and the Afghan presidency said. The incident happened late Tuesday night when the d
Published 28 Jul, 2011 12:00am
Suicide blast kills mayor of Qandahar city

Suicide blast kills mayor of Qandahar city

A suicide bomber killed the mayor of Afghanistan's Qandahar city on Wednesday, two weeks after the assassination of Afghan President Hamid Karzai's brother in the same city created a power vacuum in the country's turbulent south. The death of Mayor Ghulam
Published 28 Jul, 2011 12:00am
Al Shabaab recruited dozens of Americans

Al Shabaab recruited dozens of Americans

An al Qaeda-affiliated group in Somalia, al Shabaab, has recruited more than 40 Muslim Americans to its battle in the war-ravaged country and at least 15 have been killed, a congressional report said on Wednesday.
Published 28 Jul, 2011 12:00am
UK recognises Libyan rebels, expels Gadhafi envoys

UK recognises Libyan rebels, expels Gadhafi envoys

Britain has officially recognised Libya's main opposition group as the country's legitimate government, the UK foreign secretary said Wednesday, announcing the expulsion of all diplomats loyal to Muammar Qadhafi's regime. William Hague also said his count
Published 28 Jul, 2011 12:00am
World Cup gets date

World Cup gets date

The 2014 World Cup in Brazil will take place between June 12 and July 13, FIFA general secretary Jerome Valcke announced in Rio on Wednesday. "The World Cup in 2014 will start on June 12 and finish on July 13. I know everyone wants to know the city that w
Published 28 Jul, 2011 12:00am
French rankings slide costs 2014 seeding spot

French rankings slide costs 2014 seeding spot

A recent slide down the FIFA rankings means France, World Cup winners in 1998 and runners-up in 2006, could face a tricky task to reach the 2014 World Cup finals in Brazil. Saturday sees the preliminary draw made in Rio de Janeiro but while Brazil are sit
Published 28 Jul, 2011 12:00am
Phelps breaks China gold drought

Phelps breaks China gold drought

American great Michael Phelps broke his gold medal drought in Shanghai with a convincing 200m butterfly win Wednesday, claiming his third straight world title in his favourite event. The Olympic champion and world record-holder stormed ahead over the earl
Published 28 Jul, 2011 12:00am
Aamir Atlas falls in Cairo quarters

Aamir Atlas falls in Cairo quarters

Pakistan's Aamir Atlas Khan lost his quarterfinal match to Egyptian qualifier Marwan El Shorbagy, who produced his second upset in two days in the inaugural Sportsmax Open in Egypt when he beat third-seeded Pakistani in the quarter-finals of the PSA World
Published 28 Jul, 2011 12:00am
Shabbir wins ninth Royal Rodale Bowling

Shabbir wins ninth Royal Rodale Bowling

The memorable evening got over with auspicious finals and award ceremony of 9th Royal Rodale Summer Bowling Tournament 2011 in the history of bowling in Pakistan at the 12 lane international standard Bowling Alley of Royal Rodale Club.
Published 28 Jul, 2011 12:00am
Flower bemoans lack of ICC 'leadership' on DRS

Flower bemoans lack of ICC 'leadership' on DRS

England coach Andy Flower on Wednesday accused the International Cricket Council (ICC) of lacking leadership over its failure to issue clear rules about the use of the Decision Review System. Under existing rules, either side in a series can veto the use
Published 28 Jul, 2011 12:00am
Dimitrov sends Haas packing

Dimitrov sends Haas packing

Seventh-seeded Bulgarian Grigor Dimitrov and US teenager Ryan Harrison led the youth movement in evidence on Tuesday at the ATP Los Angeles hardcourt tournament. Dimitrov, 20, made short work of two-time Los Angeles champion Tommy Haas, downing the 33-yea
Published 28 Jul, 2011 12:00am
Anderson wary of India backlash

Anderson wary of India backlash

England seamer James Anderson expects India to be a stronger side when the second Test starts at Trent Bridge here on Friday after bowling the hosts to victory in the series opener. Anderson, 28, took five for 65 in front of a sell-out last day crowd at L
Published 28 Jul, 2011 12:00am
London enters final countdown with a splash

London enters final countdown with a splash

London 2012 began its final year countdown on Wednesday with swimmers making a splash in the newly-opened Olympic pool and IOC president Jacques Rogge putting preparations on a par with great Games of the past. British medal hope Tom Daley was due to make
Published 28 Jul, 2011 12:00am
New York cotton rises near three percent

New York cotton rises near three percent

Cotton futures finished higher Wednesday on follow-through investment fund and speculative buying, with traders saying the momentum from the advance may shove fibre contracts up the rest of the week. The key December cotton futures on ICE Futures US rose
Published 28 Jul, 2011 12:00am
US copper rises

US copper rises

Copper snapped a four-day losing streak to end firmer on Tuesday, as extended labour action at the world's largest mine backed market-wide expectations of a supply shortfall this year. In New York, the key September COMEX contract rallied 7.15 cents, or 1
Published 28 Jul, 2011 12:00am
Shanghai copper flat

Shanghai copper flat

The most-active October copper contract on the Shanghai Futures Exchange closed flat at 72,810 yuan per tonne on Wednesday. A five-day strike at Chile's giant Escondida mine appeared far from ending after the mine snubbed government mediation on Tuesday,
Published 28 Jul, 2011 12:00am
Copper prices slip

Copper prices slip

Copper slipped on Wednesday after an increase of almost 2 percent in the previous session as a stronger dollar and soft US economic data offset supply worries due to strikes at the world's largest copper mine. Aluminium hit $2,675.25 a tonne, its highest
Published 28 Jul, 2011 12:00am
Oil plunges as US inventories rise

Oil plunges as US inventories rise

Oil prices fell on Wednesday as data showed the first release of crude from the US petroleum reserve unexpectedly pushed up domestic inventories last week, adding to concerns over weak economic data. US crude inventories rose 2.3 million barrels, boosted
Published 28 Jul, 2011 12:00am
Tokyo rubber climbs; Shanghai dips

Tokyo rubber climbs; Shanghai dips

Tokyo rubber futures rose 2.3 percent to a three-month high on Wednesday as concern about the US debt stalemate encouraged investors and funds to take speculative buying in commodity futures, dealers said. The benchmark rubber contract on the Tokyo Commod
Published 28 Jul, 2011 12:00am
Malaysian palm oil rises

Malaysian palm oil rises

Malaysia palm oil futures rose 0.4 percent in light trade on Wednesday on strong soy markets as China resumed buying and dry weather in the United States, although gains were limited over concerns of a looming US debt crisis.
Published 28 Jul, 2011 12:00am
New York sugar, coffee and cocoa up

New York sugar, coffee and cocoa up

Raw sugar futures closed higher on Tuesday, on concerns about tight supplies. US cocoa settled firm in an inside day of heavy volume, pressured by increasing global surplus expectations and lifted by short-covering. Arabica coffee ended higher. Key Octobe
Published 28 Jul, 2011 12:00am
Liffe cocoa, sugar and coffee fall

Liffe cocoa, sugar and coffee fall

London September cocoa fell 17 pounds to settle at 1,890 pounds pounds per tonne on Wednesday, US cocoa futures reversed to close higher, in heavy spread dealings as new fund longs are expected to need to roll, while coffee hobbled lower. October white su
Published 28 Jul, 2011 12:00am
US gold steadies

US gold steadies

Gold held steady on Tuesday after the last session's record high, as investors stayed on the sidelines, watching the stalemate in Washington's budget talks to avert a ratings downgrade or default. Selling related to an option expiration Tuesday pressured
Published 28 Jul, 2011 12:00am
Gold touches all-time high in Asia

Gold touches all-time high in Asia

Spot gold hit an all-time high on Wednesday, for the sixth time in two weeks, as worries grew whether the United States could avert a debt default while its two key political parties were still locked in stalemated talks to raise its debt ceiling. Spot go
Published 28 Jul, 2011 12:00am
Gold hits new record peak in European trade

Gold hits new record peak in European trade

Gold prices rose to record highs above $1,625 on Wednesday, with silver and palladium also rallying, as concerns over the prospect of a US default prompted investors to buy precious metals as a haven from risk.
Published 28 Jul, 2011 12:00am
Sugar reverses losses

Sugar reverses losses

Sugar reversed losses early on Wednesday, hemmed in by concerns over Brazil's crop and prospects for increased output in a number of producers, while coffee futures slipped, as fears of a US debt default weighed on markets. ICE cocoa futures were also low
Published 28 Jul, 2011 12:00am
US MIDDAY: Corn, soya dip

US MIDDAY: Corn, soya dip

Chicago Board of Trade corn and soyabean futures fell early on Wednesday due to forecasts for better weather for crop development in the US Midwest, traders said. Wheat futures, which followed the drop in corn and soyabeans, also were pressured by a stron
Published 28 Jul, 2011 12:00am
US MIDDAY: copper down

US MIDDAY: copper down

Copper closed down on Wednesday as a firmer dollar and macro-economic concerns continued to cloud near-term demand prospects and limit the bullish impact of a prolonged strike at the world's largest copper mine. In New York, the key September COMEX contra
Published 28 Jul, 2011 12:00am
US MIDDAY: gold drops

US MIDDAY: gold drops

Gold fell early on Wednesday after hitting record highs near $1,630 an ounce, as a broad sell-off of riskier assets prompted bullion investors to take profits amid mounting fears of a US debt default. Gold initially benefited on news a vote on a deficit r
Published 28 Jul, 2011 12:00am
Artistes Support Fund

Artistes Support Fund

It's heartening to know that the Punjab government has set up an Artistes Support Fund with the explicit objective to provide financial help for the welfare and support of the families of the artistes, who laid down their lives while performing their prof
Published 28 Jul, 2011 12:00am
Suffering from Pakistani floods fails to ebb one year on

Suffering from Pakistani floods fails to ebb one year on

Misri Khan and his roughly 500 relatives survived what the United Nations described as the world's biggest natural disaster in modern history, but they face a bleak future. Little aid has come from the government and international community to help him re
Published 28 Jul, 2011 12:00am
Trust: the nature of dispositive powers - I

Trust: the nature of dispositive powers - I

A. Introduction: The powers conferred on trustees under the terms of the trust or by law can be conveniently broken down into two categories: administrative powers and dispositive powers. Administrative powers relate primarily to the investment of
Published 28 Jul, 2011 12:00am
VIEW POINT: Going the GMO way

VIEW POINT: Going the GMO way

Whether we like it or not genetically modified organisms (GMOs) have already arrived in this country. Several varieties of Bt (Bacillus thuringiensis) cotton are being grown everywhere. We may soon be eating GM corn; other food and feed crops would also b
Published 28 Jul, 2011 12:00am
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