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Nov 15, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2011-11-11
Siemens delivers cautious dividend on growth outlook

Siemens delivers cautious dividend on growth outlook

Siemens AG, a bellwether for the euro zone's largest economy, announced a smaller than expected dividend and forecast flat profit growth in 2012 after ending its year in a turbulent economic environment. The Munich-based maker of products ranging from fas
Published 11 Nov, 2011 12:00am
Tokyo stock exchange warns Olympus could be delisted

Tokyo stock exchange warns Olympus could be delisted

Tokyo's stock exchange has warned scandal-hit Olympus Corp it will be delisted after 62 years as a publicly traded company if it fails to report earnings by December 14, deepening concerns about the camera-maker's future. Olympus said it was unlikely to i
Published 11 Nov, 2011 12:00am
Greece keeps Deutsche Telekom worried

Greece keeps Deutsche Telekom worried

The eurozone crisis ate into Deutsche Telekom AG's business in Greece and other southern European countries in the third quarter and Europe's biggest telecom operator warned tough times are still ahead. "The overall economic situation in the European oper
Published 11 Nov, 2011 12:00am
Australian tourism 'in crisis'

Australian tourism 'in crisis'

Australia's ailing tourism industry on Thursday warned it was in crisis, with arrivals in September slumping as its soaring dollar and global economic woes kept visitors away. There were just 432,200 international visitors to Australia in September accord
Published 11 Nov, 2011 12:00am
Canada posts trade surplus on energy exports

Canada posts trade surplus on energy exports

A surge in energy exports helped Canada post an unexpected trade surplus of C$1.246 billion (US $1.221 billion) in September, the first of its kind since January 2011, Statistics Canada data indicated on Thursday. Market operators had predicted a deficit
Published 11 Nov, 2011 12:00am
China developer offers BMWs for buyers

China developer offers BMWs for buyers

A Chinese developer is offering BMWs to buyers of its apartments, as the country's cash-strapped real estate industry struggles to boost sales after government restrictions squeezed demand. The owner of Central Mansions, a huge housing development compris
Published 11 Nov, 2011 12:00am
France extends short-selling ban, UK outvoted

France extends short-selling ban, UK outvoted

France extended its short-selling ban on the shares of 10 financial institutions by three months from Friday as the eurozone debt crisis spreads beyond Greece to Italy. "This ban could be lifted before the end of this period if market conditions allow," F
Published 11 Nov, 2011 12:00am
Nikkei falls nearly three percent

Nikkei falls nearly three percent

Japan's Nikkei average fell nearly 3 percent on Thursday to its lowest close in five weeks after a surge in Italian bond yields signalled that the worst may not be over in Europe's debt crisis, while banks plunged after a drop in their global peers.
Published 11 Nov, 2011 12:00am
Thursday's midday trade: stocks edge higher

Thursday's midday trade: stocks edge higher

US stocks edged up on Thursday, rebounding from Wednesday's steep losses, but trading was choppy as nervous investors reacted to headlines painting a mixed picture of Europe's debt crisis. Wall Street was initially boosted by news that the European Centra
Published 11 Nov, 2011 12:00am
Wall Street plunges

Wall Street plunges

US stocks tumbled 3 percent on Wednesday in the market's worst day since mid-August as a spike in Italian bond yields signalled the European debt crisis had worsened. All 10 S&P sectors were down, but S&P financials were the hardest hit on worries about E
Published 11 Nov, 2011 12:00am
Indian markets closed

Indian markets closed

Indian stocks, bonds, currency and commodity markets are closed on Thursday for a religious holiday. Trading resumes on Friday.
Published 11 Nov, 2011 12:00am
Australian shares drop

Australian shares drop

Australian shares dropped 2.4 percent on Thursday, marking the biggest one-day percentage fall in five weeks, as Europe's escalating debt crisis hit global shares, although a surge in China's imports helped the market off its lows. China's imports from re
Published 11 Nov, 2011 12:00am
Treasuries gain

Treasuries gain

US Treasuries prices gained on Wednesday, boosted by a safety bid as Italian borrowing costs topped 7 percent, raising fears the eurozone's third-largest economy would need emergency aid. Political turmoil in Italy has made it the epicentre of the worseni
Published 11 Nov, 2011 12:00am
Treasuries gain

Treasuries gain

US Treasuries prices gained on Wednesday, boosted by a safety bid as Italian borrowing costs topped 7 percent, raising fears the eurozone's third-largest economy would need emergency aid. Political turmoil in Italy has made it the epicentre of the worseni
Published 11 Nov, 2011 12:00am
Taiwan stocks fall

Taiwan stocks fall

Taiwan stocks fell 3.35 percent in their worst one-day percentage slide in almost two months on Thursday, joining global bourses in tumbling on fears over the growing debt crisis in the eurozone. Banks and tech exporters such as TSMC led the main TAIEX in
Published 11 Nov, 2011 12:00am
Hong Kong and Chinese shares tumble

Hong Kong and Chinese shares tumble

Hong Kong shares fell more than 5 percent on Thursday, wiping out almost a week's gains, as Europe's escalating debt crisis and weak results from the likes of HSBC Holdings sent investors rushing for the exits. Financials bore the brunt of the sell-off, w
Published 11 Nov, 2011 12:00am
European shares lower on Italy fears

European shares lower on Italy fears

European shares ended lower in choppy trade on Thursday on concerns that political wrangling in debt-laden Italy to form a national unity government and high bond yield levels in the country may deepen the region's two-year old debt crisis.
Published 11 Nov, 2011 12:00am
Seoul shares see biggest loss in seven weeks

Seoul shares see biggest loss in seven weeks

Seoul shares tumbled on Thursday as a spike in Italian bond yields signalled the European debt crisis had worsened, sending banks and crude oil refiners down sharply and sending foreign investors stampeding for the exits. Foreign investors offloaded a net
Published 11 Nov, 2011 12:00am
Southeast Asian stocks hit one-week low

Southeast Asian stocks hit one-week low

Southeast Asian stock markets faltered on Thursday amid sell-offs across Asia as a surge in Italy's borrowing costs fuelled anxiety about the future of the euro, with weak earnings from commodities firms helping drag Singapore down to a one-week low.
Published 11 Nov, 2011 12:00am
FTSE falls as eurozone uncertainty dents sentiment

FTSE falls as eurozone uncertainty dents sentiment

Britain's top share index closed lower on Thursday after moves to bring stability to the governments of Greece and Italy failed to soothe concerns over eurozone debt contagion. Riskier assets such as commodity and banking stocks led the fallers, as Britai
Published 11 Nov, 2011 12:00am
Yuan falls

Yuan falls

The yuan closed lower versus the dollar on Thursday, pulling off a record trading high hit a day earlier, as the People's Bank of China fixed a mid-point significantly lower in the wake of an overnight rally in the US Dollar Index. The weak PBOC fixing, f
Published 11 Nov, 2011 12:00am
Sterling falls

Sterling falls

Sterling edged lower against the dollar and underperformed the euro as worries about the eurozone drove investors to shed exposure to riskier currencies, offsetting any relief seen after the Bank of England kept asset purchases on hold. As expected, the B
Published 11 Nov, 2011 12:00am
Euro steadies in Asia

Euro steadies in Asia

The euro steadied on Thursday as most players stuck to the sidelines after a selloff the day before on a spike in Italian borrowing costs, but options positioning suggested more drops ahead as fears of global financial turmoil grip markets.
Published 11 Nov, 2011 12:00am
Euro off lows in London

Euro off lows in London

The euro rose against the dollar on Thursday, pulling away from a one-month low on signs Italy's political deadlock may be easing and after it paid less than feared to issue short-term debt, though the single currency remained vulnerable. Markets gained s
Published 11 Nov, 2011 12:00am
Early afternoon trade: euro rises versus dollar

Early afternoon trade: euro rises versus dollar

The euro rebounded from a one-month low against the US dollar on Thursday as signs of political progress in Rome helped steady Italian bond yields. Italian bond yields fell back from Wednesday's record highs of around 7.5 percent but remained elevated, ju
Published 11 Nov, 2011 12:00am
Euro drops most in 15 months in New York

Euro drops most in 15 months in New York

The euro fell the most in 15 months against the US dollar on Wednesday, and fears Italy could be the next eurozone country to seek a financial bailout suggested more losses to come. Italian government bond yields soared above 7 percent after clearing hous
Published 11 Nov, 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 Thursday. 76.40-76.42 (previous 76.35-76.39). Call Money Rates: 21.00/21.00 percent (previous 20.00-21.00 percent).
Published 11 Nov, 2011 12:00am
Swiss franc lower

Swiss franc lower

The Swiss franc continued to tick lower against the dollar on Thursday alongside a weakening euro, with the single currency buffeted by the deepening Italian debt crisis which has begun to eclipse the Greek debt saga. The franc fell 0.1 percent against th
Published 11 Nov, 2011 12:00am
Australian and New Zealand dollars under pressure

Australian and New Zealand dollars under pressure

The Australian and New Zealand dollars nursed heavy losses on Thursday, amid rising fears Italy's woes could push for a break-up of the eurozone and spark global financial turmoil. The Aussie dived as deep as a one-month low of $1.0108, down more than 2 c
Published 11 Nov, 2011 12:00am
Rupiah at six-week low

Rupiah at six-week low

Emerging Asian currencies fell on Thursday as investors dumped riskier assets after surging Italian borrowing costs boosted fears of a eurozone break-up, while the Indonesian rupiah slid to its lowest in more than six weeks after a larger-than-expected in
Published 11 Nov, 2011 12:00am
Money markets: Italian banks risk becoming dependent on ECB

Money markets: Italian banks risk becoming dependent on ECB

The latest hike in how much it costs banks to raise funds using Italian bonds as collateral may be the last straw on the back of Italian lenders, pushing them to the point where they become dependent on loans from the European Central Bank. If Italy fails
Published 11 Nov, 2011 12:00am
Sole Iniesta strike gives Barcelona Cup edge

Sole Iniesta strike gives Barcelona Cup edge

Barcelona had to settle for a single-goal victory against third-tier club CD L'Hospitalet in the first leg of their Spanish Cup last 32 tie on Wednesday, with Andres Iniesta scoring the game's only goal.
Published 11 Nov, 2011 12:00am
Azhar Mahmood signs new contract with Kent

Azhar Mahmood signs new contract with Kent

Kent cricket county all-rounder Azhar Mahmood signed a new two-year contract. The 36-year-old, who has been with Kent for four seasons, has been used as a One-day specialist and was voted last year's supporters' player of the year. The former Pakistan int
Published 11 Nov, 2011 12:00am
No factor of 'players power' in selection of Afridi: PCB Chief

No factor of 'players power' in selection of Afridi: PCB Chief

Chairman, Pakistan Cricket Board (PCB), Chaudhry Zaka Ashraf said on Thursday that inclusion of veteran Shahid Afridi in the Pakistan One-day team does not mean promoting 'players power' as the all rounder made his way to the team on the recommendations o
Published 11 Nov, 2011 12:00am
Murray beats Roddick at Paris Masters

Murray beats Roddick at Paris Masters

In-form Andy Murray made it 18 games unbeaten by beating Andy Roddick 6-2, 6-2 at Bercy Arena here on Thursday to reach the quarter-finals of the Paris Masters. Murray had spoken of the importance of "getting inside" Roddick's mighty serve and he broke th
Published 11 Nov, 2011 12:00am
Court dismisses Kaneria petition against PCB

Court dismisses Kaneria petition against PCB

Leg spinner Danish Kaneria's hopes of playing for Pakistan were dealt a blow on Thursday when his appeal against the PCB's refusal to consider him for selection was dismissed by the Sindh High Court. The Pakistan Cricket Board has not selected Kaneria sin
Published 11 Nov, 2011 12:00am
Wickets tumble as Australia avoid record low

Wickets tumble as Australia avoid record low

Australia's last wicket pair saved their team from being bowled out for the lowest total in Test history as both teams collapsed on an extraordinary second day of the first Test against South Africa at Newlands Thursday. South Africa, set 236 to win, were
Published 11 Nov, 2011 12:00am
China's World Cup hopes on knife-edge

China's World Cup hopes on knife-edge

China's 2014 World Cup hopes teeter on the brink as they prepare to face Iraq on Friday, while other Asian football powers can breeze into the last qualifying round with room to spare. Jose Antonio Camacho's men are struggling after one win in three games
Published 11 Nov, 2011 12:00am
Students protest firing of US college coach

Students protest firing of US college coach

Thousands of Penn State University students took to the streets around campus overnight on Thursday to protest the sacking of their beloved football coach, Joe Paterno, in the fallout from a child abuse scandal and cover-up. Chanting "Hell no, Joe won't g
Published 11 Nov, 2011 12:00am
Sudan bombs South Sudan camp; 12 killed

Sudan bombs South Sudan camp; 12 killed

Military aircraft from Sudan crossed the new international border with South Sudan and dropped bombs Thursday in and around a camp filled with refugees fleeing violence in the north, officials said. At least 12 people were killed. The violence in and near
Published 11 Nov, 2011 12:00am
China coal mine blast kills 20

China coal mine blast kills 20

At least 20 workers were killed and another 23 were trapped underground after a blast at a mine in China on Thursday, state media said, in the latest disaster to hit the country's vast mining industry. Hundreds of emergency workers and medics have been se
Published 11 Nov, 2011 12:00am
China tops Canada as No 1 US farm export market

China tops Canada as No 1 US farm export market

China, the world's largest importer of cotton and soybeans, has topped Canada to become the No 1 market for US farm exports for the first time, the Agriculture Department said on Thursday. US exporters sold $20 billion in agricultural products to China du
Published 11 Nov, 2011 12:00am
Attackers blow up Egypt gas line, halting exports

Attackers blow up Egypt gas line, halting exports

Attackers set off explosives along a gas pipeline in Egypt's Sinai Peninsula that transports fuel to neighbouring Israel and Jordan early on Thursday, Egypt's state news agency MENA reported. It is the seventh attack on the pipeline since the popular upri
Published 11 Nov, 2011 12:00am
Girl, soldiers among 21 killed in Syria

Girl, soldiers among 21 killed in Syria

A young girl and six soldiers were among 21 Syrians killed on Thursday as security forces pressed a crackdown on protests and in clashes between troops and army deserters, a human rights group said. The deadly clashes came as protest organisers called for
Published 11 Nov, 2011 12:00am
ANC suspends Malema for five years

ANC suspends Malema for five years

South Africa's ruling ANC kicked out its firebrand Youth League leader, Julius Malema, from the party for five years on Thursday after finding him guilty of dividing and bringing the 99-year-old liberation movement into disrepute. The decision to send him
Published 11 Nov, 2011 12:00am
Israeli firm says costs too high on Iran strike

Israeli firm says costs too high on Iran strike

A leading Israeli investment firm said on Thursday any military strike on Iranian nuclear facilities would exact an economic price too high for the world to accept, and as a result, it would likely acquiesce to a nuclear Iran. A sharp rise in the price of
Published 11 Nov, 2011 12:00am
UN warns against force in Iran nuclear stand-off

UN warns against force in Iran nuclear stand-off

UN Secretary-General Ban Ki-moon called on Thursday for a diplomatic solution to the nuclear standoff with Tehran in an apparent reaction to media speculation that Israel might attack Iran's atomic facilities. "He (Ban) reiterates his call for Iran's comp
Published 11 Nov, 2011 12:00am
US Senate votes in favour of 'net neutrality' rules

US Senate votes in favour of 'net neutrality' rules

President Barack Obama's fellow Democrats in the US Senate on Thursday blocked a Republican-backed resolution to disapprove of the Federal Communications Commission's new rules on "net neutrality." On a vote of 52-46, the Democratic-led Senate rejected a
Published 11 Nov, 2011 12:00am
Over 1,000 die in Southeast Asia floods

Over 1,000 die in Southeast Asia floods

At least one thousand people have died in massive floods across Southeast Asia in recent months, according to an AFP tally on Thursday, and millions of homes and livelihoods have been destroyed. The death toll in Thailand - grappling with its worst floods
Published 11 Nov, 2011 12:00am
Russian scientist denies helping Iran build bomb

Russian scientist denies helping Iran build bomb

A Russian scientist accused of helping Iran develop technology necessary to build a nuclear weapon has denied assisting the Iranian nuclear program, a Russian newspaper reported Thursday. A report released this week by the UN nuclear agency said a "foreig
Published 11 Nov, 2011 12:00am
Russia fails to revive stranded Mars probe

Russia fails to revive stranded Mars probe

Increasingly gloomy Russian scientists failed in repeated attempts Thursday to give a vital boost to a pioneering Mars probe that got stuck in a low Earth orbit and now threatens to crash within days. The unmanned Phobos-Grunt spacecraft lost its course t
Published 11 Nov, 2011 12:00am
Egypt bars Dutch MP for racism

Egypt bars Dutch MP for racism

Egypt has refused entry to a Dutch MP, a member of the far-right Party for Freedom (PVV), for what it termed racist comments and hostility to Egypt's government, the foreign ministry said on Thursday. Cairo's rejection of Raymond De Roon resulted in an ei
Published 11 Nov, 2011 12:00am
Turkish police fire tear gas in quake city

Turkish police fire tear gas in quake city

Riot police fired tear gas and used batons to disperse protesters angry at the state's relief efforts after the second earthquake in eastern Turkey in three weeks killed at least 10 people in the city of Van. Rescue teams searched for survivors after the
Published 11 Nov, 2011 12:00am
Germany plans major Afghanistan troop cut

Germany plans major Afghanistan troop cut

Germany is planning a major cut in its military forces in Afghanistan next year, according to a government document seen by AFP Thursday. Under the plan, the current force, up to 5,350-strong, will be reduced to 4,900 from next February, with a further 50
Published 11 Nov, 2011 12:00am
Rush to marry on China's 'singles day' 11/11

Rush to marry on China's 'singles day' 11/11

Thousands of Chinese couples are reportedly planning to get married on Friday, dubbed "singles' day" in China because the date is made up entirely of the number one. November 11 has been celebrated as an unofficial day for the unattached in China since th
Published 11 Nov, 2011 12:00am
Murdoch turns on editor, lawyer in hacking probe

Murdoch turns on editor, lawyer in hacking probe

James Murdoch turned on his former News of the World colleagues on Thursday as he fought to survive a second grilling over phone-hacking by British lawmakers and keep his place in his father's media empire. Murdoch blamed Colin Myler, the last editor of t
Published 11 Nov, 2011 12:00am
25 percent mammal at risk of extinction: IUCN

25 percent mammal at risk of extinction: IUCN

25 per cent of mammals are at risk of extinction, warned the compilers of the latest update of International Union for Conservation of Nature (IUCN) on Thursday. Despite the action of conservation programmes, the reassessments of several Rhinoceros specie
Published 11 Nov, 2011 12:00am
'Over 137 million world's poor receive micro-loans in 2010'

'Over 137 million world's poor receive micro-loans in 2010'

More than 137.5 million of the world's poorest families received micro-loans in 2010 which is all time high, according to a report released on Thursday by the Micro-credit Summit Campaign (MSC). Assuming an average of five persons per family, these 137.5
Published 11 Nov, 2011 12:00am
Karachi musical makes song and dance of gang wars

Karachi musical makes song and dance of gang wars

A hit musical about gangland violence in Karachi is bidding to revive Karachi's once-rich stage culture while shedding light on its grim addiction to violence. Fierce sectarian and ethnic conflicts have been responsible for the deaths of more than 1,000 p
Published 11 Nov, 2011 12:00am
OIC, Comstech to arrange three-day workshop from November 21

OIC, Comstech to arrange three-day workshop from November 21

An international workshop on Healthcare in the 21st Century: Importance of Interoperability would be held here from November 21-23. The Organisation of Islamic Conference (OIC) Standing Committee on Scientific and Technological Co-operation (Comstech) wil
Published 11 Nov, 2011 12:00am
131 exploratory wells drilled to meet oil and gas needs

131 exploratory wells drilled to meet oil and gas needs

Ministry of Petroleum and Natural Resources has drilled 131 exploratory wells during the last five years to meet growing needs of oil and gas in the country. "It is a fact that the production of oil and gas in the country is less than their demand. Howeve
Published 11 Nov, 2011 12:00am
INTERVIEW WITH MANAGING DIRECTOR, NESTLE PAKISTAN

INTERVIEW WITH MANAGING DIRECTOR, NESTLE PAKISTAN

"We are not worried about competition" asserted Managing Director of Nestle Pakistan, Ian James Donald, in an exclusive interview with BR Research. Donald contended that the market for packaged food and beverages is expanding at such a blinding pace that
Published 11 Nov, 2011 12:00am
INTERVIEW WITH MANAGING DIRECTOR, NESTLE PAKISTAN

INTERVIEW WITH MANAGING DIRECTOR, NESTLE PAKISTAN

"We are not worried about competition" asserted Managing Director of Nestle Pakistan, Ian James Donald, in an exclusive interview with BR Research. Donald contended that the market for packaged food and beverages is expanding at such a blinding pace that
Published 11 Nov, 2011 12:00am
Japan's corporate, machinery orders tumble

Japan's corporate, machinery orders tumble

A key gauge of Japan's corporate capital spending fell more than expected in September and manufacturers expect a further drop this quarter as business confidence sags in the face of the strong yen and slowing global growth. The data herald a rough patch
Published 11 Nov, 2011 12:00am
Airbus halts production of long-haul A340 aircraft

Airbus halts production of long-haul A340 aircraft

European planemaker Airbus said Thursday it was abandoning production of its A340 long-haul four-engine aircraft, which failed to compete with Boeing's 777. "We have accepted reality. We have not sold any A340s for nearly two years," Airbus finance direct
Published 11 Nov, 2011 12:00am
Four Swiss banks flout anti-laundering rules

Four Swiss banks flout anti-laundering rules

Four Swiss banks flouted money laundering regulations in the way they dealt with banned Tunisian, Egyptian and Libyan assets, Switzerland's financial regulator FINMA said on Thursday. "In four cases FINMA will open enforcement proceedings," said the regul
Published 11 Nov, 2011 12:00am
EU sharply lowers British growth forecasts for 2011, 2012

EU sharply lowers British growth forecasts for 2011, 2012

Britain's economy will expand at a sharply lower pace in 2011 and 2012, growing by 0.7 percent this year and 0.6 percent next year, the European Commission said on Thursday. A previous EU forecast had foreseen growth of 1.7 percent in 2011 and 2.1 percent
Published 11 Nov, 2011 12:00am
French court fines EDF for spying on Greenpeace

French court fines EDF for spying on Greenpeace

A French court on Thursday fined French state energy giant EDF 1.5 million euros ($2 million) for spying on environmental campaigners Greenpeace. An investigating judge had charged that the energy firm hired private firm Kargus Consultants to hack the com
Published 11 Nov, 2011 12:00am
BoE keeps interest rate at record-low

BoE keeps interest rate at record-low

The Bank of England kept its key interest rate at a record low level of 0.50 percent on Thursday as Britain struggles to ensure economic recovery. "The Bank of England''s Monetary Policy Committee today voted to maintain the official bank rate paid on com
Published 11 Nov, 2011 12:00am
BoE keeps interest rate at record-low

BoE keeps interest rate at record-low

The Bank of England kept its key interest rate at a record low level of 0.50 percent on Thursday as Britain struggles to ensure economic recovery. "The Bank of England's Monetary Policy Committee today voted to maintain the official bank rate paid on comm
Published 11 Nov, 2011 12:00am
BoE keeps interest rate at record-low

BoE keeps interest rate at record-low

The Bank of England kept its key interest rate at a record low level of 0.50 percent on Thursday as Britain struggles to ensure economic recovery. "The Bank of England's Monetary Policy Committee today voted to maintain the official bank rate paid on comm
Published 11 Nov, 2011 12:00am
Rate on 30-year mortgage falls

Rate on 30-year mortgage falls

The average rate on the 30-year fixed mortgage fell below 4 percent for just the second time in history. Freddie Mac says the rate on the 30-year fixed loan fell to 3.99 percent, down from 4 percent last week. Five weeks ago, it dropped to a record low of
Published 11 Nov, 2011 12:00am
Rate on 30-year mortgage falls

Rate on 30-year mortgage falls

The average rate on the 30-year fixed mortgage fell below 4 percent for just the second time in history. Freddie Mac says the rate on the 30-year fixed loan fell to 3.99 percent, down from 4 percent last week. Five weeks ago, it dropped to a record low of
Published 11 Nov, 2011 12:00am
US job, trade data hint at stronger growth

US job, trade data hint at stronger growth

New US claims for jobless benefits fell last week to their lowest level since early April and the trade deficit unexpectedly shrank in September, pointing to a slight improvement in the sluggish economy. The Labour Department said on Thursday that initial
Published 11 Nov, 2011 12:00am
Satyam posts strong profit growth

Satyam posts strong profit growth

Indian software outsourcer Mahindra Satyam on Thursday said its quarterly net profit soared more than ten-fold, beating market estimates, as demand for outsourcing grew. The company, recovering from the country's biggest corporate fraud scandal, said net
Published 11 Nov, 2011 12:00am
Satyam posts strong profit growth

Satyam posts strong profit growth

Indian software outsourcer Mahindra Satyam on Thursday said its quarterly net profit soared more than ten-fold, beating market estimates, as demand for outsourcing grew. The company, recovering from the country's biggest corporate fraud scandal, said net
Published 11 Nov, 2011 12:00am
Merkel says top goal is keeping eurozone intact

Merkel says top goal is keeping eurozone intact

German Chancellor Angela Merkel rejected on Thursday the idea that her government might favour a smaller eurozone, saying her only goal since the beginning of the debt crisis has been to stabilise the bloc in its current form. Reuters reported on Wednesda
Published 11 Nov, 2011 12:00am
US county files largest-ever municipal bankruptcy

US county files largest-ever municipal bankruptcy

A county in the southern state of Alabama filed the largest ever municipal bankruptcy Wednesday, weighed down by a reported more than $4 billion in debt. The county commission of Jefferson County, which includes Birmingham, the state's largest city, made
Published 11 Nov, 2011 12:00am
China's imports surge as exports wilt

China's imports surge as exports wilt

China's imports surged in October as exports grew at their slowest rate in months, suggesting efforts to tilt the economy towards domestic demand may be offsetting the external weakness that has dragged on economic growth this year. Customs figures showed
Published 11 Nov, 2011 12:00am
ECB policymakers reject bigger crisis role for bank

ECB policymakers reject bigger crisis role for bank

The European Central Bank cannot intervene much more aggressively to tackle the eurozone debt crisis, three ECB policymakers from the bloc's core said on Thursday, pressing governments to act instead. The ECB is under growing pressure from world leaders t
Published 11 Nov, 2011 12:00am
Russia takes big step towards WTO accession with first nod

Russia takes big step towards WTO accession with first nod

Russia took a "big step" towards joining the World Trade Organisation after 18 years of trying when it secured on Thursday the first of two approvals needed for its membership to the trade body. "It has been a long journey but today Russia has taken a big
Published 11 Nov, 2011 12:00am
New York cotton futures move higher

New York cotton futures move higher

Cotton futures settled higher Thursday on investor buying sparked mainly by news that China bought a large amount of cotton to replenish official stocks, analysts said. The key December cotton contract on ICE Futures US increased 2.32 cents or by 2.4 perc
Published 11 Nov, 2011 12:00am
US copper falls

US copper falls

Copper slumped to a two-week low Wednesday as the dollar rallied and the cost of Italian bonds soared to dangerously high levels, underscoring weaker global growth prospects and fears of curbed metals demand. In New York, the key December COMEX contract s
Published 11 Nov, 2011 12:00am
Shanghai copper, zinc hit limit down

Shanghai copper, zinc hit limit down

London copper futures fell to their lowest level in two weeks and Shanghai prices slid by their 6 percent limit on Thursday as a mounting debt crisis in Italy heightened fears about the global economy, fuelling a flight out of riskier assets.
Published 11 Nov, 2011 12:00am
Copper plunges

Copper plunges

Copper fell on Thursday as demand prospects dimmed due to the protracted eurozone debt crisis, although hopes that political deadlock in Italy and Greece may be easing kept falls in check. Zinc, tin, lead, also fell but, like copper, ended off the lows, a
Published 11 Nov, 2011 12:00am
Crude oil jumps

Crude oil jumps

Crude oil futures rebounded on Thursday, as investors saw some progress in Italy's efforts to solve its debt problems and US data showed a slight improvement in the economy, beefing up appetite for risk. Prices had already risen in early trade as data sho
Published 11 Nov, 2011 12:00am
Tokyo rubber fall seven percent, Shanghai limit-down

Tokyo rubber fall seven percent, Shanghai limit-down

Key Tokyo rubber futures tumbled 7.3 percent to a two-year low on Thursday while the Shanghai market closed down by its daily limit as fears over Europe's debt crisis intensified and worries of a decline in demand prompted investors to close positions. Th
Published 11 Nov, 2011 12:00am
Palm oil jumps

Palm oil jumps

Malaysian palm oil futures climbed to a three month high on Thursday after a surprise stock draw that prompted investors to focus on prospects of erratic weather later this year hurting production. Malaysia's government reported a 1.6 percent decline in s
Published 11 Nov, 2011 12:00am
US grain futures dive

US grain futures dive

US grain futures slumped as much as 2 percent on Wednesday as the dollar headed for its biggest daily gain in more than a year, weighing on equities and other commodities such as gold and oil. The US Agriculture Department early on Wednesday slashed its f
Published 11 Nov, 2011 12:00am
Cocoa at 2-1/2 year low

Cocoa at 2-1/2 year low

Cocoa dropped to its lowest in more than two years on Thursday on good West African crop prospects, while coffee and raw sugar were mixed as the commodity complex reversed higher. US stocks, crude oil and the euro gained as concerns the eurozone might bre
Published 11 Nov, 2011 12:00am
US gold slips

US gold slips

Spot gold held to a slight loss on Wednesday in a global market sell-off, but losses were limited as investors sought safety amid doubts economic reforms in Italy and fears that eurozone leaders may be too late to resolve the region's debt crisis.
Published 11 Nov, 2011 12:00am
Gold falls in Asia

Gold falls in Asia

US gold fell as much as 2 percent on Thursday, as growing fears over the stability of Italy and the eurozone sank riskier assets and led to liquidation on the gold market. The most-active US gold futures contract lost as much as 2 percent to $1,755.5 an o
Published 11 Nov, 2011 12:00am
Gold drops two percent in London

Gold drops two percent in London

Gold fell almost 2 percent on Thursday as worries about a disordered bankruptcy in Greece and a deepening debt crisis in Italy weighed on market sentiment and pushed investors to liquidate commodity assets, including precious metals. The euro briefly exte
Published 11 Nov, 2011 12:00am
US MIDDAY: wheat down 1.5 percent

US MIDDAY: wheat down 1.5 percent

US wheat and soyabean futures fell early on Thursday on disappointing exports, with grains also under pressure from uncertainty over Europe's debt crisis. Corn futures were only slightly lower in choppy trading, underpinned by the US Department of Agricul
Published 11 Nov, 2011 12:00am
US MIDDAY: copper extends losses

US MIDDAY: copper extends losses

Copper extended losses into a fifth day on Thursday, setting itself up for its biggest weekly loss in seven weeks, as demand prospects dimmed from the deepening debt crisis in Europe. Losses piled up across the broader industrial metals complex, with nota
Published 11 Nov, 2011 12:00am
US MIDDAY: gold falls

US MIDDAY: gold falls

Gold fell on Thursday, on track for its biggest one-day loss in two weeks, as fears about political turmoil in Italy and a deepening eurozone debt crisis prompted investors to raise cash by liquidating some positions in the bullion market.
Published 11 Nov, 2011 12:00am
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