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Print - 2011-09-03
Heavy rains forecast for next three days

Heavy rains forecast for next three days

The Met Office on Friday warned that more widespread heavy monsoon rains in Sindh, including Karachi, southern Punjab and eastern parts of Balochistan are expected during the next three days (Saturday to Monday). 'Heavy' to 'very heavy' rains would genera
Published 03 Sep, 2011 12:00am
Budgetary support borrowing surges to Rs 129 billion

Budgetary support borrowing surges to Rs 129 billion

Borrowing for budgetary support from banking system posted increase of 38 percent, amounting to Rs 129 billion, during first seven weeks of current fiscal year, mainly due to rising expenditure, shortfall in revenue and foreign inflows. Bankers said the d
Published 03 Sep, 2011 12:00am
Budgetary support borrowing surges to Rs 129 billion

Budgetary support borrowing surges to Rs 129 billion

Borrowing for budgetary support from banking system posted increase of 38 percent, amounting to Rs 129 billion, during first seven weeks of current fiscal year, mainly due to rising expenditure, shortfall in revenue and foreign inflows. Bankers said the d
Published 03 Sep, 2011 12:00am
Budgetary support borrowing surges to Rs 129 billion

Budgetary support borrowing surges to Rs 129 billion

Borrowing for budgetary support from banking system posted increase of 38 percent, amounting to Rs 129 billion, during first seven weeks of current fiscal year, mainly due to rising expenditure, shortfall in revenue and foreign inflows. Bankers said the d
Published 03 Sep, 2011 12:00am
EU adopts Syria oil embargo

EU adopts Syria oil embargo

The European Union on Friday adopted a ban on crude oil imports from Syria although European companies will be able to fulfil existing supply contracts until November 15, the EU and diplomats said. The EU also expanded the list of individuals targeted by
Published 03 Sep, 2011 12:00am
EU adopts Syria oil embargo

EU adopts Syria oil embargo

The European Union on Friday adopted a ban on crude oil imports from Syria although European companies will be able to fulfil existing supply contracts until November 15, the EU and diplomats said. The EU also expanded the list of individuals targeted by
Published 03 Sep, 2011 12:00am
EU adopts Syria oil embargo

EU adopts Syria oil embargo

The European Union on Friday adopted a ban on crude oil imports from Syria although European companies will be able to fulfil existing supply contracts until November 15, the EU and diplomats said. The EU also expanded the list of individuals targeted by
Published 03 Sep, 2011 12:00am
US stocks tumble; gold jumps three percent

US stocks tumble; gold jumps three percent

US stocks tumbled 2 percent on Friday after data showing zero jobs growth in August brought investors face-to-face with the prospect of another recession. Gold surged nearly 3 percent on Friday, hitting its highest level since last week''s record, as inve
Published 03 Sep, 2011 12:00am
US stocks tumble; gold jumps three percent

US stocks tumble; gold jumps three percent

US stocks tumbled 2 percent on Friday after data showing zero jobs growth in August brought investors face-to-face with the prospect of another recession. Gold surged nearly 3 percent on Friday, hitting its highest level since last week's record, as inves
Published 03 Sep, 2011 12:00am
US stocks tumble; gold jumps three percent

US stocks tumble; gold jumps three percent

US stocks tumbled 2 percent on Friday after data showing zero jobs growth in August brought investors face-to-face with the prospect of another recession. Gold surged nearly 3 percent on Friday, hitting its highest level since last week's record, as inves
Published 03 Sep, 2011 12:00am
Taliban kidnap 30 Pakistani boys in Afghanistan

Taliban kidnap 30 Pakistani boys in Afghanistan

Taliban militants have kidnapped more than 30 Pakistani boys who had mistakenly crossed the unmarked border in the country's lawless north-west into Afghanistan, officials said Friday. They said the incident took place on Thursday after the group of boys,
Published 03 Sep, 2011 12:00am
Taliban kidnap 30 Pakistani boys in Afghanistan

Taliban kidnap 30 Pakistani boys in Afghanistan

Taliban militants have kidnapped more than 30 Pakistani boys who had mistakenly crossed the unmarked border in the country's lawless north-west into Afghanistan, officials said Friday. They said the incident took place on Thursday after the group of boys,
Published 03 Sep, 2011 12:00am
Turkey expels Israeli diplomats after UN report

Turkey expels Israeli diplomats after UN report

Turkey expelled Israel's ambassador and suspended military accords on Friday, a day after publication of a UN report saying that Israel had used unreasonable force in a raid on a Gaza-bound ship that killed nine Turks. Stung by Israel's refusal to meet de
Published 03 Sep, 2011 12:00am
Turkey expels Israeli diplomats after UN report

Turkey expels Israeli diplomats after UN report

Turkey expelled Israel's ambassador and suspended military accords on Friday, a day after publication of a UN report saying that Israel had used unreasonable force in a raid on a Gaza-bound ship that killed nine Turks. Stung by Israel's refusal to meet de
Published 03 Sep, 2011 12:00am
The Weather

The Weather

The weather report on Friday (September 02, 2011) and the forecast for Saturday (September 03, 2011).

Published 03 Sep, 2011 12:00am
LME official prices

LME official prices

The following were Thursday official prices.

Published 03 Sep, 2011 12:00am
LME official prices

LME official prices

The following were Thursday official prices.

Published 03 Sep, 2011 12:00am
Closing of sterling rates

Closing of sterling rates

Closing of sterling rates at 1730 GMT - on Friday (September 02, 2011).

Published 03 Sep, 2011 12:00am
BRIDGE NOTES: Passion - the key to winning bridge

BRIDGE NOTES: Passion - the key to winning bridge

Bridge is not just a game of precision and good judgement. It is a game of patience and preservation. It is also a game of logic and perseverance. But the one characteristic that gives it a magical touch and delight for those who indulge in it is that it
Published 03 Sep, 2011 12:00am
Apna Watan

Apna Watan

Hai watan apna jahaan may aik dilkash gulsitaan Hum nikhartay phool iss kay, yay humaara aasheeyaan Apna sir iss kee badolat fakhr say ooncha hoowa Farz hai ab iss kee hoormat kay banein hum passbaan Saaray as-haab-e-watan ko apna yay paighaam hai Ab bana
Published 03 Sep, 2011 12:00am
BOOK REVIEWS: Before and after disaster

BOOK REVIEWS: Before and after disaster

The 2005 Kashmir earthquake was a major earthquake centred in Azad Kashmir, near the city of Muzaffarabad, also affecting other areas of Pakistan (Gilgit-Baltistan and Khyber Pakhtunkhwa). It occurred at 08:50 am on 8 October 2005 with a magnitude of 7.6
Published 03 Sep, 2011 12:00am
Discover a designer inside you

Discover a designer inside you

In the past, degree-holder designers possessing required knowledge about textiles, fabrics, ornamentation, and fashion trends worked for the fashion houses, shops or clothing manufacturers. But now-a-days, a large number of youngsters and housewives are a
Published 03 Sep, 2011 12:00am
ART FACTS: Colours of emotions

ART FACTS: Colours of emotions

This is the world of the unknown with a strange and mystifying dimension that exist beyond the concept of space and time, and is a different reality altogether. However four young artists come together at IVS Gallery, Indus Valley School of Art and Archit
Published 03 Sep, 2011 12:00am
KARACHI CHRONICLE: Ibne Safi: Down memory lane

KARACHI CHRONICLE: Ibne Safi: Down memory lane

Since December last, there has been a pleasant, surprising revival of interest in renowned author of crime-and-detection and science fiction, Ibne Safi. The interest was triggered by "The House of Fear and Shootout at the Rocks" translated in English by B
Published 03 Sep, 2011 12:00am
Other people's history

Other people's history

The title paraphrases the title of Louis D. Brandeis 1914 book "Other People's Money: and how the bankers use it", and probably aptly so. For those who prefer movies, they most likely remember Danny DeVito's 1991 comedy movie with the same name. Both the
Published 03 Sep, 2011 12:00am
Cheruiyot claims double after world 5000m win

Cheruiyot claims double after world 5000m win

Kenyan Vivian Cheruiyot claimed the women's 5000-10,000m double after winning gold in the shorter race at the world championships on Friday. The Kenyan defending champion timed 14min 55.36sec, with compatriot Sylvia Kibet taking silver (14:56.21) and Mese
Published 03 Sep, 2011 12:00am
Kohli backs world champs India to silence Hussain

Kohli backs world champs India to silence Hussain

India batsman Virat Kohli insists the world champions will prove Nasser Hussain wrong after the former England captain labelled some of the tourists as "donkeys". Hussain made the controversial remark about India's fielding while commentating during Wedne
Published 03 Sep, 2011 12:00am
Campbell-Brown powers to 200m world title

Campbell-Brown powers to 200m world title

Jamaica's two-time Olympic champion Veronica Campbell-Brown stormed to victory in the women's 200m Friday, denying American Allyson Felix a historic fourth consecutive world title. Campbell-Brown flew out of the blocks and although Carmelita Jeter pushed
Published 03 Sep, 2011 12:00am
Djokovic leads heavyweight procession at US Open

Djokovic leads heavyweight procession at US Open

Novak Djokovic raced into the US Open last 32 with a ruthless demolition of Argentine Carlos Berlocq on Thursday, as fellow heavyweights Roger Federer, Serena Williams and Caroline Wozniacki also cruised. World number one, and top seed, Djokovic, the Aust
Published 03 Sep, 2011 12:00am
Manchester United post record profits

Manchester United post record profits

English champions Manchester United posted record operating profits of £110.9million ($179.7million) for the past financial year, figures released Thursday showed. The Old Trafford club have also recorded a record revenue of £334.1million - an increase of
Published 03 Sep, 2011 12:00am
Messi powers Argentina to 1-0 win

Messi powers Argentina to 1-0 win

Lionel Messi marked his first game as Argentina captain with a 1-0 win over Venezuela in a friendly encounter played before thousands of delirious fans in the Indian city of Kolkata on Friday. The 24-year-old Barcelona striker enthralled the crowd at the
Published 03 Sep, 2011 12:00am
Defiant Mawoyo carries bat, Pakistan hit back

Defiant Mawoyo carries bat, Pakistan hit back

Tintotenda Mawoyo became the third Zimbabwean player to carry his bat as the opener made 163 not out in his side's first innings total of 412 on the second day of the Test against Pakistan at Queens Sports Club Friday. After the early loss of Taufeeq Umar
Published 03 Sep, 2011 12:00am
Sri Lanka face defeat

Sri Lanka face defeat

Australia closed in on a convincing victory in the first Test in Galle on Friday after Sri Lanka's top order was ripped apart for a second time. Sri Lanka, set an improbable target of 379 to win on a crumbling wicket, were tottering at 120-5 at the close
Published 03 Sep, 2011 12:00am
Asian world cup qualifying: late winners spare Aussie, Japan blushes

Asian world cup qualifying: late winners spare Aussie, Japan blushes

Asian big guns Australia and Japan left it perilously late before snatching vital winners in World Cup qualifying on Friday, as South Korea got off to a roaring start against Lebanon. Australia were just four minutes from a humiliating home draw with Thai
Published 03 Sep, 2011 12:00am
China state paper urges Internet rethink to gag foes

China state paper urges Internet rethink to gag foes

China's Communist Party control is at risk unless the government takes firmer steps to stop Internet opinion being shaped by increasingly organised political foes, a team of party writers warned in a commentary published on Friday. The long commentary in
Published 03 Sep, 2011 12:00am
Natixis to exit, Safran to join CAC 40

Natixis to exit, Safran to join CAC 40

French aerospace and defence group Safran is to join France's CAC-40 index of blue chip stocks and French bank Natixis is to exit as of September 19, stock market operator Euronext said on Friday. Safran shares have surged 46 percent over the past 12 mont
Published 03 Sep, 2011 12:00am
ADB lends $500 million to India's railways

ADB lends $500 million to India's railways

The Asian Development Bank (ADB) said Thursday it has approved loans of up to 500 million dollars to boost India's railway services. The Manila-based ADB said the loans would finance additional lines and the electrification of hundreds of kilometres of tr
Published 03 Sep, 2011 12:00am
ADB lends $500 million to India's railways

ADB lends $500 million to India's railways

The Asian Development Bank (ADB) said Thursday it has approved loans of up to 500 million dollars to boost India's railway services. The Manila-based ADB said the loans would finance additional lines and the electrification of hundreds of kilometres of tr
Published 03 Sep, 2011 12:00am
Sony to release tablet computer

Sony to release tablet computer

Sony's first tablet computer will hit the Japanese market on September 17 as the company looks to take on Apple's popular iPad, the electronics giant said Thursday. The Sony Tablet will be powered by Google's Android software, allowing users to download c
Published 03 Sep, 2011 12:00am
World Bank president to discuss China's growth model

World Bank president to discuss China's growth model

World Bank President Robert Zoellick was set to arrive in Beijing on Thursday to discuss China's economic prospects and possible lessons for other developing nations. "I am looking forward to visiting China to listen and learn, and to discuss China's medi
Published 03 Sep, 2011 12:00am
World Bank president to discuss China's growth model

World Bank president to discuss China's growth model

World Bank President Robert Zoellick was set to arrive in Beijing on Thursday to discuss China's economic prospects and possible lessons for other developing nations. "I am looking forward to visiting China to listen and learn, and to discuss China's medi
Published 03 Sep, 2011 12:00am
Spanish court rejects complaint against ratings agencies

Spanish court rejects complaint against ratings agencies

Spain's top criminal court has dismissed a complaint filed against ratings agencies Fitch, Moodys and Standard & Poors, arguing their downgrades of the country's credit rating were not a crime. The complaint filed in February by the tiny United Left party
Published 03 Sep, 2011 12:00am
IMF spillover report highlights debt vulnerability

IMF spillover report highlights debt vulnerability

The International Monetary Fund, in a report summarising its assessment of potential spillover impacts of global economic policy, suggested on Friday that debt sustainability was a key area of concern. The global lender provides so-called Article IV asses
Published 03 Sep, 2011 12:00am
People visit graveyards on Eid to offer Fateha

People visit graveyards on Eid to offer Fateha

Besides seeing family members, relatives and friends to share Eid joyness with them, people also remember their late loved ones and visited graveyards to offer Fateha for their souls. After Eid prayer, people start visiting cemeteries to pray for the dead
Published 03 Sep, 2011 12:00am
Seminar on cotton to be held on September 6

Seminar on cotton to be held on September 6

A PhD research seminar on "Establishment of Regeneration and Transformation System for Cotton (Gossypium arboreum L.)" will be held at new auditorium of National Institute for Biotechnology and Genetic Engineering (NIBGE) here on September 06. Briefing ab
Published 03 Sep, 2011 12:00am
Two killed, 18 injured in Lakki Marwat blast

Two killed, 18 injured in Lakki Marwat blast

At least two persons were killed, and 18 others sustained injuries in a car bomb blast that hit a police station at Paizo located in the vicinity of Lakki Marwat, private television channels reported on Thursday night. According to details, a car loaded w
Published 03 Sep, 2011 12:00am
US arrests Pakistani on terror support charges

US arrests Pakistani on terror support charges

A Pakistani man who received commando training from militants before moving to a Washington suburb has been arrested and charged with providing support to a terror group, US officials said Friday. Jubair Ahmad, 24, stands accused of providing material sup
Published 03 Sep, 2011 12:00am
Target killers to be presented before media next week: Malik

Target killers to be presented before media next week: Malik

Interior Minister Rehman Malik has said that government will expose the arrested alleged target killers before the media next week to fulfil its commitment. "We do not want to lose our credibility and would definitely bring the killers before the media,"
Published 03 Sep, 2011 12:00am
Ukraine awards first shale gas contract to Shell

Ukraine awards first shale gas contract to Shell

Economically-struggling Ukraine radically altered its energy strategy Thursday, signing a massive shale gas deal with Anglo-Dutch giant Shell in hopes of reducing its dependence on Russia. The first contract of its kind puts Shell in a prime position to d
Published 03 Sep, 2011 12:00am
Japan's forex move exceeds four trillion yen

Japan's forex move exceeds four trillion yen

Japan sold 4.51 trillion yen ($59 billion) in August to stem the yen's rise against the dollar, the finance ministry said Wednesday. Market watchers say Tokyo only stepped in once during the month, making the move Tokyo's largest-ever currency interventio
Published 03 Sep, 2011 12:00am
British supermarket giant Tesco exits Japan

British supermarket giant Tesco exits Japan

Britain's biggest retailer Tesco announced on Wednesday that it is pulling out of Japan after eight years and putting its 129 small supermarkets on sale to focus on other operations in Asia. "Tesco has today announced its decision to sell its business in
Published 03 Sep, 2011 12:00am
Russian bailiffs raid BP Moscow office

Russian bailiffs raid BP Moscow office

Bailiffs Wednesday raided the offices of BP in Moscow, seeking documents on its failed deal with Rosneft, the latest chapter in the British energy giant's troubled history in Russia. The search came less than a day after Rosneft and ExxonMobil agreed a st
Published 03 Sep, 2011 12:00am
Peugeot to re-enter Indian car market

Peugeot to re-enter Indian car market

French auto giant PSA Peugeot Citroen is to invest nearly $890 million to set up a factory in the western state of Gujarat for its re-entry into the Indian car market, a report said on Wednesday. The financial daily Mint said that the company would spend
Published 03 Sep, 2011 12:00am
Apple's China 'suppliers' under fire for pollution

Apple's China 'suppliers' under fire for pollution

A Chinese environmental group has said factories it believes are contracted to make Apple products are engaging in rampant pollution, and accused the US technology giant of turning a blind eye. Apple does not disclose its suppliers in China, but the Insti
Published 03 Sep, 2011 12:00am
Oil lifts eurozone producer prices

Oil lifts eurozone producer prices

Energy costs pushed eurozone producer prices up in July as Brent oil prices spiked, but overall inflation pressures were moderate, adding to economists' expectations the European Central Bank will keep rates on hold. Higher crude oil nudged prices up 0.5
Published 03 Sep, 2011 12:00am
Eurozone unemployment stays at 10 percent

Eurozone unemployment stays at 10 percent

The eurozone's unemployment rate was stuck at 10 percent in July, official figures showed on Wednesday, at a time of austerity and economic slowdown in the 17-nation single currency area. Eurostat, the European Union's statistics agency, also raised its J
Published 03 Sep, 2011 12:00am
US manufacturing grows slowly

US manufacturing grows slowly

US manufacturing unexpectedly grew in August and fewer Americans filed new claims for jobless aid last week despite a slump in confidence that threatened to push the economy back into recession. The Institute for Supply Management's index of national fact
Published 03 Sep, 2011 12:00am
World factories falter, risking recession

World factories falter, risking recession

World factory output slowed in August as worries about the eurozone and US debt reduced confidence, heightening fears the global economy could sink back into recession. Manufacturing contracted in the eurozone for the first time in almost two years, echoi
Published 03 Sep, 2011 12:00am
Europe rejects IMF call for more bank capital

Europe rejects IMF call for more bank capital

European politicians on Thursday rejected an International Monetary Fund call for banks to raise up to 200 billion euros ($290 billion) in new capital, adding to fears that policymakers may be underestimating the severity of the debt crisis. IMF chief Chr
Published 03 Sep, 2011 12:00am
Spain bond sale sees sluggish demand

Spain bond sale sees sluggish demand

Spain's first bond auction in a month drew lukewarm demand on Thursday, forcing it to pay a high premium to place 3.6 billion euros of new five-year paper despite European Central Bank support on secondary markets. The amount sold was just above the middl
Published 03 Sep, 2011 12:00am
Spain bond sale sees sluggish demand

Spain bond sale sees sluggish demand

Spain's first bond auction in a month drew lukewarm demand on Thursday, forcing it to pay a high premium to place 3.6 billion euros of new five-year paper despite European Central Bank support on secondary markets. The amount sold was just above the middl
Published 03 Sep, 2011 12:00am
Libya, Syria troubles add to crude tanker rate rout

Libya, Syria troubles add to crude tanker rate rout

The slow pace of resumption of Libyan crude exports and a European Union oil embargo on Syria are reducing prospects for a ship rate recovery this year in the smaller Mediterranean tanker market, analysts and brokers say. Aframax tankers on the Mediterran
Published 03 Sep, 2011 12:00am
India's factory output growth slows, export orders shrink

India's factory output growth slows, export orders shrink

India's factory sector expanded at its slowest pace in more than two years in August as export orders shrank amid weakening global demand, a survey of manufacturers in Asia's third-largest economy showed. Still, India was one of the few countries to show
Published 03 Sep, 2011 12:00am
TNK-BP, Gazprom lead Russia to record-high oil output

TNK-BP, Gazprom lead Russia to record-high oil output

Oil output in Russia, the world's top crude producer, hit a new post-Soviet high of 10.28 million barrels per day (bpd) in August on the back of production ramp-ups at TNK-BP and Gazprom, the Energy Ministry said on Friday. Overall crude production last m
Published 03 Sep, 2011 12:00am
China's Wen says has confidence in euro

China's Wen says has confidence in euro

China retains confidence in the euro and Europe's economy but the region's governments need to ensure the security of Chinese investments there, Premier Wen Jiabao said on Friday. With about a quarter of China's record foreign currency reserves of $3.2 tr
Published 03 Sep, 2011 12:00am
UK banks lobby government as ringfence hit looms

UK banks lobby government as ringfence hit looms

Barclays and other leading British banks have launched a last-ditch lobbying effort with the British government to try and fend off proposals to ringfence their retail operations, sources with knowledge of the matter said.
Published 03 Sep, 2011 12:00am
LSE in talks to buy clearing house LCH

LSE in talks to buy clearing house LCH

The London Stock Exchange is in talks to buy its main clearing house LCH.Clearnet, a deal that could snatch the prized European asset from under the noses of data vendor Markit and exchange rival Nasdaq OMX. The LSE, which failed two months ago to buy Can
Published 03 Sep, 2011 12:00am
ECB steps up pressure on Italy as debt worries grow

ECB steps up pressure on Italy as debt worries grow

European Central Bank President Jean-Claude Trichet told Italy's struggling centre-right government to deliver on its promised austerity package, adding to international pressure on weakened premier Silvio Berlusconi. ECB support is vital because the Fran
Published 03 Sep, 2011 12:00am
AT&T prepares two-track plan to save T-Mobile deal

AT&T prepares two-track plan to save T-Mobile deal

AT&T Inc is expected to soon present a proposed solution to US antitrust regulators to salvage its planned $39 billion acquisition of smaller rival T-Mobile USA, according to people close to the matter. Even as the No 2 US wireless service provider gears
Published 03 Sep, 2011 12:00am
US job growth grinds to halt

US job growth grinds to halt

US employment growth ground to a halt in August as sagging confidence discouraged already skittish businesses from hiring, piling pressure on the Federal Reserve to provide more stimulus to aid the economy. Nonfarm payrolls were unchanged last month, the
Published 03 Sep, 2011 12:00am
Australian shares end 1.5 percent weaker

Australian shares end 1.5 percent weaker

Australian shares closed 1.5 percent weaker on Friday as investors stayed on the sidelines ahead of the release of key US jobs data which some fear may provide a new signal that the American economy is headed for a recession. Miners and the major banks le
Published 03 Sep, 2011 12:00am
Nikkei slips back below 9,000

Nikkei slips back below 9,000

Japan's Nikkei stock average fell on Friday, slipping back below the 9,000 level as profit-taking emerged after six straight days of gains and ahead of a key US jobs report, while machinery stocks lost ground after weak capital spending data. After slidin
Published 03 Sep, 2011 12:00am
Wall Street falls

Wall Street falls

Wall Street's four-day rally ground to a halt on Thursday, with major indexes falling 1 percent on caution ahead of a key labour market report expected to underscore fears the economy is headed for another recession. Financials were the biggest losers, se
Published 03 Sep, 2011 12:00am
Taiwan stocks end flat

Taiwan stocks end flat

Taiwan stocks ended flat on Friday, as losses in cement counters offset the gains in tourism shares. Banking shares were up 0.25 percent after Taiwan's financial regulator said it will ease restrictions on Taiwanese banks operating in China. The main TAIE
Published 03 Sep, 2011 12:00am
US bonds climb

US bonds climb

The US Treasuries market rallied on Thursday as the latest jobs and factory data stoked fears of a dismal August payrolls report and bets the Federal Reserve will introduce more stimulus to avert a new recession. While some of the latest readings on the U
Published 03 Sep, 2011 12:00am
US bonds climb

US bonds climb

The US Treasuries market rallied on Thursday as the latest jobs and factory data stoked fears of a dismal August payrolls report and bets the Federal Reserve will introduce more stimulus to avert a new recession. While some of the latest readings on the U
Published 03 Sep, 2011 12:00am
Seoul shares snap rally

Seoul shares snap rally

Seoul shares snapped a six-day rebound on Friday, with foreign investors turning net sellers ahead of a US labour market report, although the market posted a weekly gain. The Korea Composite Stock Price Index (KOSPI) ended down 0.69 percent to 1,867.75 po
Published 03 Sep, 2011 12:00am
Hong Kong and Chinese shares down

Hong Kong and Chinese shares down

Hong Kong shares fell on Friday, snapping a four-day winning streak, as investors cut long positions in cyclical stocks ahead of US jobs data that are expected to provide clues on whether the Federal Reserve will take further action to support the economy
Published 03 Sep, 2011 12:00am
European stocks knocked by dire US jobs data

European stocks knocked by dire US jobs data

European stocks tumbled on Friday, ending a four-day rally, after data showed US employment growth ground to a halt in August, rekindling fears that the world's largest economy is slipping into recession. The FTSEurofirst 300 index of top European shares
Published 03 Sep, 2011 12:00am
FTSE suffers sell-off

FTSE suffers sell-off

Britain's top share index fell sharply on Friday as few stocks survived a broad-based sell-off after data showed US jobs growth ground to a halt in August, heightening concerns the economy could fall into recession. Non-farm payrolls were unchanged, the U
Published 03 Sep, 2011 12:00am
Euribor futures rally, markets eye 2011 ECB cuts

Euribor futures rally, markets eye 2011 ECB cuts

Eurozone interest rate futures extended their recent rally on Friday as investors increased their bets that weak growth in the region and globally would lead the European Central Bank to ease policy before year-end. Euribor futures rallied by around 8 tic
Published 03 Sep, 2011 12:00am
Euro steadies in Asia

Euro steadies in Asia

The euro steadied on Friday after a drubbing overnight on weak euro zone data, supported by talk that Asian sovereign players were buying the single currency to defend an option barrier. Some traders said the euro may trend lower in coming days, given gro
Published 03 Sep, 2011 12:00am
Aussie, New Zealand dollars up

Aussie, New Zealand dollars up

The Australian and New Zealand dollars held onto hefty gains made against a bleeding euro on Monday amid uncertainties over the Greek bailout package, and paused on the greenback ahead of key US jobs data. The euro tumbled overnight by more than one perce
Published 03 Sep, 2011 12:00am
Swiss franc soars in London

Swiss franc soars in London

The Swiss franc extended this week's impressive gains on Friday as concerns about the eurozone debt crisis and a gloomy economic outlook prompted fund investors to seek the safe-haven franc and test the Swiss National Bank's resolve. There was no sign of
Published 03 Sep, 2011 12:00am
Early trade in New York: dollar drops versus franc, yen

Early trade in New York: dollar drops versus franc, yen

The US dollar slid against the Swiss franc and yen on Friday as bleak jobs data raised expectations the Federal Reserve may soon embark on another round of bond-buying, a measure that could drag the dollar down further. The Swiss franc extended already im
Published 03 Sep, 2011 12:00am
Euro slips against major currencies in New York trade

Euro slips against major currencies in New York trade

The euro slipped against major currencies on Thursday, driven by data showing contraction in manufacturing in most euro zone countries, a day ahead of a key US jobs report that could add to market fears about recession. The pace of growth in the US manufa
Published 03 Sep, 2011 12:00am
Indian rupee strengthens

Indian rupee strengthens

The Indian rupee strengthened on Friday in cautious trade ahead of the US non-farm payrolls data, aided by local share gains, but dollar demand from oil importers limited the rise. The partially convertible rupee ended at 45.79/80 per dollar, 0.6 percent
Published 03 Sep, 2011 12:00am
Yuan down on strong dollar

Yuan down on strong dollar

China's yuan ended down slightly against the dollar by midday on Friday after the People's Bank of China set a weaker mid-point, reflecting the gains in the dollar against other currencies overnight. But dealers still expected further rises in the yuan in
Published 03 Sep, 2011 12:00am
Sterling slips versus dollar

Sterling slips versus dollar

Sterling relinquished gains against the dollar on Friday as the US currency benefited from safe-haven demand after data showing US jobs growth at a standstill confirmed economic weakness and raised concerns about the global economic outlook The pound hit
Published 03 Sep, 2011 12:00am
Canadian dollar ends firmer ahead of US data

Canadian dollar ends firmer ahead of US data

The Canadian dollar ended the day slightly firmer against the US dollar in quiet trade on Thursday, even as concerns about global growth weighed on markets and investors awaited key US jobs data due out Friday. "Canada is closing a little bit stronger but
Published 03 Sep, 2011 12:00am
Risk aversion sends Swiss franc higher versus euro, dollar

Risk aversion sends Swiss franc higher versus euro, dollar

The Swiss franc extended gains against the euro and the dollar on Friday as dismal euro zone data and little sign of action from the Swiss National Bank prompted safe-haven flows. Weak euro zone manufacturing data on Thursday compounded pessimism about th
Published 03 Sep, 2011 12:00am
Won has best week in five months

Won has best week in five months

The South Korean won reported the best week in five months, leading weekly gains in most of its Asian peers, as hopes for the Federal Reserve's further steps to revive the ailing US economy lifted regional stocks, while investors were reluctant to make bi
Published 03 Sep, 2011 12:00am
Lebanon Prime Minister ready to fund UN Hariri tribunal

Lebanon Prime Minister ready to fund UN Hariri tribunal

Lebanon will fund a UN-backed court that has charged Hezbollah operatives with the 2005 murder of ex-premier Rafiq Hariri, Prime Minister Najib Mikati said in comments published Friday. "Lebanon's interest lies in financing the Special Tribunal for Lebano
Published 03 Sep, 2011 12:00am
Former British finance minister attacks 'arrogant' bankers

Former British finance minister attacks 'arrogant' bankers

Britain's former finance minister Alistair Darling has attacked "arrogant and stupid" bankers in his new memoir of life during the most turbulent period of the financial crisis. Darling was particularly critical of some senior bankers, saying the former c
Published 03 Sep, 2011 12:00am
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