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Print - 2013-03-05
China's palm oil stocks hit record 1.4 million tones

China's palm oil stocks hit record 1.4 million tones

China's palm oil stocks most probably rose to a record 1.4 million tonnes in February as imports surged late last year ahead of stricter quality regulations from January 1, a Reuters survey of five Chinese traders and analysts showed. Record palm oil stoc
Published 05 Mar, 2013 12:00am
US wheat futures fall for first time in five sessions

US wheat futures fall for first time in five sessions

US wheat futures fell for the first time in five sessions on Monday as support from bargain hunters waned and expectations of bumper global stocks dominated Asian trading sentiment. Soybeans rose, recouping much of the losses from the previous session, wh
Published 05 Mar, 2013 12:00am
Ivory Coast rains boost outlook for cocoa mid-crop

Ivory Coast rains boost outlook for cocoa mid-crop

A second straight week of abundant showers and sunshine across Ivory Coast's principal cocoa regions is improving growing conditions ahead of the April-to-September mid-crop harvest, farmers and analysts said on Monday. The world's top grower is emerging
Published 05 Mar, 2013 12:00am
Yellen says aggressive Fed stimulus still needed

Yellen says aggressive Fed stimulus still needed

Janet Yellen, the Federal Reserve's influential vice chair, said on Monday the US central bank's aggressive monetary stimulus is warranted given how far the economy was operating below its full potential. Downplaying the potential costs of the Fed's uncon
Published 05 Mar, 2013 12:00am
India board rules against Bayer in cancer drug patent case

India board rules against Bayer in cancer drug patent case

An Indian patent appeals board upheld on Monday a decision to allow a domestic company to sell a generic version of Bayer AG's cancer drug Nexavar, in a blow for global drugmakers' efforts to hold on to monopolies on high-price medicines. The ruling paves
Published 05 Mar, 2013 12:00am
China hammers out rail restructuring

China hammers out rail restructuring

China is likely to split its sprawling, scandal-plagued Railways Ministry into operations and commercial arms, two sources said, part of an overhaul of the bureaucracy as a new set of leaders takes charge in Beijing. In other plans, the government is also
Published 05 Mar, 2013 12:00am
BoJ nominee Kuroda sets out aggressive policy ideas

BoJ nominee Kuroda sets out aggressive policy ideas

The Japan government's nominee to be the next central bank governor outlined more forceful policy prescriptions on Monday to finally defeat deflation, saying he would not set any limits on the amount of cash the Bank of Japan pumps into the economy. Under
Published 05 Mar, 2013 12:00am
Policy shift needed to tap Africa's farm potential: World Bank

Policy shift needed to tap Africa's farm potential: World Bank

Africa's agricultural sector could become a $1 trillion industry by 2030 if governments and the private sector radically rethink policies and support for farmers, a World Bank report said on Monday. Africa's food market, currently valued at $313 billion a
Published 05 Mar, 2013 12:00am
Singapore manufacturing PMI contracts on flagging export orders

Singapore manufacturing PMI contracts on flagging export orders

Manufacturing activity in Singapore fell in February as orders weakened, resuming a downturn that started in July last year even as factories in the United States and South Korea reported improving conditions. The Southeast Asian city-state's Purchasing M
Published 05 Mar, 2013 12:00am
Grain market closed

Grain market closed

The wholesale grain and oilseeds markets were closed on Monday due to strike in Karachi against killings of 47 people in two bomb blasts.
Published 05 Mar, 2013 12:00am
European wheat futures fall in wake of Chicago, volumes thin

European wheat futures fall in wake of Chicago, volumes thin

European wheat futures fell on Monday following a drop on US markets but volumes were thin as the market awaited activity in Chicago later in the day. Spread trading between front-month March which expires next week and new benchmark May was concentrating
Published 05 Mar, 2013 12:00am
No deal on cotton market

No deal on cotton market

No business activity was seen on the cotton market on Monday due to strike in Karachi against killings of 47 people in two bomb blasts, dealers said on Phone. The official spot rate was unchanged at Rs 6,450, dealers said. Seed cotton prices in Sindh were
Published 05 Mar, 2013 12:00am
Indian sugar futures hit contract low on rising supplies

Indian sugar futures hit contract low on rising supplies

Indian sugar futures extended last week's losses to hit a contract low on rising supplies amid sluggish demand and a delay in removing curbs on the sugar industry. As of 0921 GMT, the key March sugar contract on India's National Commodity and Derivatives
Published 05 Mar, 2013 12:00am
Australian shares fall

Australian shares fall

Australian shares fell 1.5 percent on Monday as lower metal prices and caution ahead of domestic economic data due later this week prompted profit-taking after strong rallies in riskier assets early this year. The Australian market has gained around 8 per
Published 05 Mar, 2013 12:00am
Nikkei average gains

Nikkei average gains

Japan's Nikkei average closed up 0.4 percent on Monday after briefly hitting a 53-month high as the government's nominee for central bank governor outlined a forceful policy to defeat deflation. Gains on the index, led by real estate and financial firms,
Published 05 Mar, 2013 12:00am
China's CSI300 in biggest loss since November 2010; Hong Kong sinks

China's CSI300 in biggest loss since November 2010; Hong Kong sinks

Hong Kong and China shares slumped on Monday, with the CSI300 suffering its heaviest single day loss in 28 months after Beijing hit property developers with more tightening measures to contain housing costs that were harsher than expected. The announcemen
Published 05 Mar, 2013 12:00am
Egypt's bourse tumbles on Sawaris travel ban; most Gulf markets slip

Egypt's bourse tumbles on Sawaris travel ban; most Gulf markets slip

Egypt's bourse suffered its biggest one-day loss in three months on Monday after the chief executive of its largest listed firm was banned from leaving the country on charges of tax evasion - a fresh blow to business confidence in the country. The public
Published 05 Mar, 2013 12:00am
Taiwan stocks slip

Taiwan stocks slip

Taiwan stocks slid 1.2 percent in their steepest one-day percentage fall in more than three months, joining China and most regional bourses in declining. The main TAIEX index ended down 97.29 points at 7,867.34, marking its biggest daily percentage fall s
Published 05 Mar, 2013 12:00am
Monday's afternoon trade: Wall Street edges lower on growth worries

Monday's afternoon trade: Wall Street edges lower on growth worries

Wall Street edged lower on Monday as renewed concerns about China's housing market and its economic growth pressured industrial and materials stocks. Ongoing concerns about "automatic" budget cuts in the US and the euro zone debt crisis also served as rea
Published 05 Mar, 2013 12:00am
Indian shares hit near three-month lows

Indian shares hit near three-month lows

Indian shares fell to near 3-month lows on Monday as global risk aversion sparked broad-based selling in domestic bluechips, including in Larsen & Toubro and Maruti Suzuki, at a time when sentiment is already weak. European shares, the euro and oil prices
Published 05 Mar, 2013 12:00am
European shares steady, Italy underperforms

European shares steady, Italy underperforms

European equities finished a volatile session broadly flat on Monday after investors balanced fresh assurances of global central bank stimulus against some disappointing earnings and political uncertainty in Italy. The pan-European FTSEurofirst 300 index
Published 05 Mar, 2013 12:00am
Most Southeast Asian markets down

Most Southeast Asian markets down

Most Southeast Asian stock markets fell on Monday, with stocks in Indonesia and Singapore each sliding around 1 percent led down by banking and commodities shares and large caps as the broader Asian markets weakened amid a patchy global growth outlook. Ja
Published 05 Mar, 2013 12:00am
Seoul shares slip

Seoul shares slip

South Korean shares fell on Monday, with exporters such as steelmakers declining after China said it could tighten property regulations to curb housing costs, while local institutional investors took profits after February's gains. The Korea Composite Sto
Published 05 Mar, 2013 12:00am
Weak miners knock Britain's FTSE on China concerns

Weak miners knock Britain's FTSE on China concerns

Britain's top shares fell on Monday on concern about prospects for global growth, with a murky outlook for metal demand from top consumer China shunting miners to the top of the fallers' list. The FTSE 100 closed down 32.97 points, or 0.5 percent, at 6,34
Published 05 Mar, 2013 12:00am
Yuan closes down

Yuan closes down

The yuan closed weaker against the dollar on Monday after the dollar index and the yen both rallied in global markets on risk-off sentiment. The central bank set a lower midpoint for the second straight trading session, down 0.4 percent to 6.2822, appeari
Published 05 Mar, 2013 12:00am
Yen rises, Aussie slides

Yen rises, Aussie slides

The yen edged higher and the Australian dollar skidded to an eight-month low on Monday as investors were spooked by Beijing's decision to hit the mainland property sector with strong curbs, triggering a selloff in Asian equities. China's Shanghai Composit
Published 05 Mar, 2013 12:00am
Early trade in New York: euro remains lower

Early trade in New York: euro remains lower

The euro remained near a 2-1/2-month low on Monday on rising expectations that eurozone economic worries will push the European Central Bank to cut interest rates sooner than previously anticipated. The euro hit a session low of $1.2980, not far from a 2-
Published 05 Mar, 2013 12:00am
Euro falls as poor data feeds ECB rate cut speculation

Euro falls as poor data feeds ECB rate cut speculation

The euro fell on Monday on growing belief that euro zone economic worries could prompt the European Central Bank to cut interest rates sooner than previously expected. Although a Reuters poll last week showed economists expected the ECB to keep rates on h
Published 05 Mar, 2013 12:00am
Bangladesh's interbank forex and interest rates

Bangladesh's interbank forex and interest rates

Inter-bank buy/sell rates for the taka against the dollar on Monday. 78.82-78.85 (78.85-78.85). Call Money Rates: 07.00-08.00 percent (previous 06.75-08.50 percent.
Published 05 Mar, 2013 12:00am
Asian currencies slide

Asian currencies slide

The South Korean won and the Singapore dollar weakened past key chart support lines on Monday, leading slides among emerging Asian currencies as investors dumped riskier assets on worries China could impose new curbs to cool property prices.
Published 05 Mar, 2013 12:00am
Australian and New Zealand dollars tumble

Australian and New Zealand dollars tumble

The Australian and New Zealand dollars hit multi-month lows against their US counterpart on Monday as worries about China's latest property curbs slugged Asian stocks and undermined sentiment generally. The Aussie slipped 0.8 percent to as deep as $1.0119
Published 05 Mar, 2013 12:00am
Indian rupee hits near two-month low

Indian rupee hits near two-month low

The Indian rupee hit the lowest level in nearly two months on Monday before closing marginally stronger with exporter and corporate dollar sales aiding the recovery, though sentiment continues to remain bearish in the near term. Traders said disappointmen
Published 05 Mar, 2013 12:00am
Sterling up versus dollar

Sterling up versus dollar

Sterling inched up from a 2-1/2 year low against the dollar on Monday as some investors cut earlier bets against it and booked profits, though gains were likely to be capped by concerns about the British economy. With the country on the edge of its third
Published 05 Mar, 2013 12:00am
World Cup chairman dies

World Cup chairman dies

Prominent Australian businessman James Strong, the chairman of the organising committee for the 2015 cricket World Cup in Australia and New Zealand, has died aged 68. The former Qantas chief executive passed away in Sydney on Sunday after complications fo
Published 05 Mar, 2013 12:00am
Resurgent Real Madrid travel to Man United in hope

Resurgent Real Madrid travel to Man United in hope

Real Madrid's back-to-back victories over Barcelona have given them fresh momentum ahead of the second leg of their Champions League last 16 tie at Manchester United on Tuesday. Prior to the 1-1 draw between the teams three weeks ago, the season had appea
Published 05 Mar, 2013 12:00am
Sri Lanka players available after pay row ends

Sri Lanka players available after pay row ends

A pay dispute between Sri Lanka Cricket (SLC) and its 23 centrally-contracted players ended on Monday with the squad signing new deals and making themselves available for the two-test series against Bangladesh. The SLC and Sri Lankan sports minister Mahin
Published 05 Mar, 2013 12:00am
Record 12-goal CAF Cup romp for Gabonese

Record 12-goal CAF Cup romp for Gabonese

Gabonese club US Bitam created a CAF Confederation Cup record when they overwhelmed Desportivo Guadalupe from Sao Tome e Principe 12-1 at the weekend. The preliminary-round rout was the biggest victory margin in the 10 years of the second-tier pan-African
Published 05 Mar, 2013 12:00am
Pakistan set to play hockey series with India

Pakistan set to play hockey series with India

Pakistan's hockey team will tour India next month after a nod from New Delhi for the first five-match series between the South Asian rivals in nearly seven years, official said Monday. The tour is expected to improve sporting relations between both nation
Published 05 Mar, 2013 12:00am
Beckham named China football ambassador

Beckham named China football ambassador

Football superstar David Beckham has been named an ambassador for the Chinese Super League, the country's football association said, a move that has been widely anticipated but also criticised. The former England captain will visit three times during the
Published 05 Mar, 2013 12:00am
Beaconhouse inaugurates sports complex

Beaconhouse inaugurates sports complex

The Beaconhouse School System inaugurated its new 25-acre comprehensive sports facility in Bedian Road on Sunday with a Sports Festival featuring a wide range of events such as rugby matches, rock climbing, cheerleading and taekwondo displays, football tr
Published 05 Mar, 2013 12:00am
Maradona dream - to coach Barca

Maradona dream - to coach Barca

Argentine legend and former Barcelona star Diego Maradona has revealed he dreams of coaching his compatriot Lionel Messi at the Catalan club. "My little dream would be one day to coach Leo at Barca," Maradona told Marca in an interview published Monday. M
Published 05 Mar, 2013 12:00am
Hafeez defends Whatmore and team

Hafeez defends Whatmore and team

Pakistan Twenty20 skipper Muhammad Hafeez has animatedly defended everyone in the Pakistan set-up, specifically the coach Dav Whatmore with even more gusto than he celebrated their victory. "It was unfair. If the results of one format do not come in your
Published 05 Mar, 2013 12:00am
England firm favourites for New Zealand series

England firm favourites for New Zealand series

England go into their three-Test series against a new-look New Zealand line-up this week as firm favourites, despite slipping to a shock defeat in their final warm-up match. The tourists, second in the Test rankings, are expected to prove too strong for t
Published 05 Mar, 2013 12:00am
Pollard, Badree lead Windies to Zimbabwe sweep

Pollard, Badree lead Windies to Zimbabwe sweep

A bludgeoning innings from Kieron Pollard and career-best figures from Samuel Badree spearheaded West Indies' 41-run win over Zimbabwe in the second and final T20 international on Sunday. Responding to the hosts' total of 158 for seven, the visitors were
Published 05 Mar, 2013 12:00am
Pakistan plans new high-profile football league

Pakistan plans new high-profile football league

Pakistan is planning a major new football competition modelled on cricket's hugely successful Indian Premier League in a bid to revitalise a sport which has long stagnated. The Pakistan Football Federation (PFF) is in talks with potential sponsors for the
Published 05 Mar, 2013 12:00am
Arbitrator sets final Dow Chemical payout from Kuwait venture

Arbitrator sets final Dow Chemical payout from Kuwait venture

Dow Chemical Co said an arbitrator has ruled it is owed $2.48 billion by a Kuwaiti firm that scuttled a 2008 joint venture, though it is not clear when the funds will be paid. The company had expected at least $2.16 billion, and on Monday the Internationa
Published 05 Mar, 2013 12:00am
Egypt sets limits on share transfers of local stocks

Egypt sets limits on share transfers of local stocks

Egypt has set limits on the amount of shares local companies can transfer into internationally-traded global depository receipts after a controversial deal involving one of the country's biggest firms. Egypt's financial watchdog made the ruling while a di
Published 05 Mar, 2013 12:00am
German car sales plunge

German car sales plunge

New car sales in Germany fell by more than 10 percent year-on-year in February, signalling the crisis for Europe's auto makers is deepening as recession-hit consumers curb spending. The data, which comes as executives gather for Wednesday's opening of the
Published 05 Mar, 2013 12:00am
Mexico's Slim, Gates, Zara chief Ortega world's richest

Mexico's Slim, Gates, Zara chief Ortega world's richest

Mexican tycoon Carlos Slim, Microsoft's Bill Gates and Zara fashion house boss Amancio Ortega of Spain topped the Forbes list of the world's wealthiest billionaires Monday. Slim, who controls Latin American telecommunications power America Movil and retai
Published 05 Mar, 2013 12:00am
Mervyn King reappointed

Mervyn King reappointed

Bank of England governor Mervyn King has reappointed his chief economist, Spencer Dale, to serve another three-year term on the central bank's rate-setting Monetary Policy Committee, the BoE said on Monday. Dale, whose current term was due to expire on Ma
Published 05 Mar, 2013 12:00am
British banks cut lending despite BoE largesse

British banks cut lending despite BoE largesse

The Bank of England's flagship plan to boost lending not only failed to increase bank loans late last year but also to reverse their decline, adding to pressure on the central bank for another boost to the economy. The Funding for Lending Scheme (FLS) was
Published 05 Mar, 2013 12:00am
China's services growth at 5-month low

China's services growth at 5-month low

Growth in China's increasingly important services sector expanded at its slowest pace in five months in February, reinforcing the view that the recovery in the world's second-largest economy remains modest. China's non-manufacturing purchasing managers' i
Published 05 Mar, 2013 12:00am
HSBC to raise dividends in show of capital strength

HSBC to raise dividends in show of capital strength

HSBC is to increase dividends this year in a show of strength over rivals even though the bank's annual profits fell after a money-laundering fine and compensation paid to customers. Europe's biggest bank is in the last year of a three-year restructuring
Published 05 Mar, 2013 12:00am
HSBC to raise dividends in show of capital strength

HSBC to raise dividends in show of capital strength

HSBC is to increase dividends this year in a show of strength over rivals even though the bank's annual profits fell after a money-laundering fine and compensation paid to customers. Europe's biggest bank is in the last year of a three-year restructuring
Published 05 Mar, 2013 12:00am
Chinese banks buy net $92.6 billion forex for clients

Chinese banks buy net $92.6 billion forex for clients

Chinese banks bought more foreign currency than they sold for clients in January, making net purchases of $92.6 billion in foreign exchange in over-the-counter transactions, according to Reuters calculations of official data. It marked a sharp increase fr
Published 05 Mar, 2013 12:00am
Chinese banks buy net $92.6 billion forex for clients

Chinese banks buy net $92.6 billion forex for clients

Chinese banks bought more foreign currency than they sold for clients in January, making net purchases of $92.6 billion in foreign exchange in over-the-counter transactions, according to Reuters calculations of official data. It marked a sharp increase fr
Published 05 Mar, 2013 12:00am
Trade between Iran, China dives 18 percent

Trade between Iran, China dives 18 percent

Trade between Iran and China dropped by 18 percent in 2012 to $37 billion after a raft of banking sanctions imposed on the Islamic republic, Iranian newspaper Donya-e Eqtesad reported on Monday. "Iran-China trade fell to $37 billion in 2012 from $45 billi
Published 05 Mar, 2013 12:00am
Spanish registered unemployment passes 5 million

Spanish registered unemployment passes 5 million

Registered unemployment in Spain surpassed five million for the first time in February, government data showed Monday, as the euro zone's fourth-largest economy contracted and the government imposed steep spending cuts. The number of people registering fo
Published 05 Mar, 2013 12:00am
Greece, Turkey Prime Ministers say time to 'move on' and mend ties

Greece, Turkey Prime Ministers say time to 'move on' and mend ties

It is time for Greece and Turkey to find a way to circumvent differences that have left ties in tatters for half a century, their prime ministers said on Monday. "It is true we have a charged history, we have had our crises and our difficulties that we ca
Published 05 Mar, 2013 12:00am
Dozens killed in DR Congo plane crash

Dozens killed in DR Congo plane crash

Dozens of people were killed when a plane crashed into a residential area of Goma in the eastern Democratic Republic of Congo in bad weather on Monday, police said. The aircraft, a Fokker belonging to the local CAA company, was coming from the central min
Published 05 Mar, 2013 12:00am
Suicide bomber kills five Iraqi policemen

Suicide bomber kills five Iraqi policemen

A suicide bomber in a car killed at least five policemen and wounded 12 people, including civilians, on Monday in Iraq's northern city of Mosul, police and medics said. It was not immediately clear who carried out the attack but suicide bombings are the h
Published 05 Mar, 2013 12:00am
British queen leaves hospital

British queen leaves hospital

Britain's Queen Elizabeth II smiled as she left hospital on Monday following a one-night stay, having been admitted for the first time in 10 years after suffering from the symptoms of gastro-enteritis. The illness forced her to call off a visit to Rome th
Published 05 Mar, 2013 12:00am
India writer wins record $1 million advance

India writer wins record $1 million advance

A best-selling Indian author has won a $1 million advance for the South Asian rights to a new trilogy, the biggest such deal ever struck, his publishers said on Monday. India's Westland Press has paid 50 million rupees to Amish Tripathi, a banker-turned-w
Published 05 Mar, 2013 12:00am
South Korean president apologises over political deadlock

South Korean president apologises over political deadlock

South Korea's new president, Park Geun-Hye, publicly apologised Monday for a political deadlock blocking the formation of her government at a time of heightened nuclear tension with North Korea. Since being sworn in a week ago, Park has had to work withou
Published 05 Mar, 2013 12:00am
At least 40 Syrian soldiers killed

At least 40 Syrian soldiers killed

Unidentified gunmen killed at least 40 Syrian soldiers and government employees in Iraq on Monday as they headed home after fleeing a Syrian rebel advance last week, Iraqi officials said. Around 65 Syrian soldiers and officials had handed themselves over
Published 05 Mar, 2013 12:00am
Syrian rebels secure biggest victory of revolt

Syrian rebels secure biggest victory of revolt

Syrian rebels overran the northern city of Raqa on Monday, scoring their biggest victory since the outbreak of a revolt against President Bashar al-Assad almost two years ago. In central Syria, insurgents battled a major army offensive to capture rebel-he
Published 05 Mar, 2013 12:00am
Explosion strikes Dhaka during Indian president's visit

Explosion strikes Dhaka during Indian president's visit

An explosion struck the Bangladeshi capital Monday near the hotel where Indian President Pranab Mukherjee has been staying, police said. "A blast occurred at Sonargaon crossing in the noontime," Assistant Commissioner Shibly Noman said, adding that a sear
Published 05 Mar, 2013 12:00am
Kerry on Gulf tour pledges backing for Syrian rebels

Kerry on Gulf tour pledges backing for Syrian rebels

US Secretary of State John Kerry said in Riyadh Monday that Washington will work to "empower" Syria's opposition, while warning arch-foe Iran that time for talks on Tehran's nuclear ambitions could run out. Kerry, on his first tour to the region since tak
Published 05 Mar, 2013 12:00am
Obama names, top energy, environment and budget officials

Obama names, top energy, environment and budget officials

The US President Barack Obama on Monday added three new names to his second term cabinet, deciding on a budget chief, energy secretary and head of the Environmental Protection Agency. The president picked top air quality official Gina McCarthy to head the
Published 05 Mar, 2013 12:00am
At least 15 killed on Kenya coast on election day

At least 15 killed on Kenya coast on election day

At least 15 people were killed in attacks by machete-wielding gangs on Monday as Kenyans voted in a presidential election they hope will rebuild the nation's image after a disputed 2007 poll unleashed weeks of tribal bloodshed. Just hours before the start
Published 05 Mar, 2013 12:00am
Snowstorm hits north central US, heading toward mid-Atlantic

Snowstorm hits north central US, heading toward mid-Atlantic

A blizzard roared into North Dakota on Monday and was expected to dump up to a foot of snow in neighbouring Minnesota before moving east over the mid-Atlantic states, where it could bury the Washington area with its biggest snowfall of the winter, the Nat
Published 05 Mar, 2013 12:00am
Security Headquarters in flames as clashes erupt in Port Said

Security Headquarters in flames as clashes erupt in Port Said

The main security building in Egypt's Port Said was in flames on Monday, as fresh fighting erupted between police and protesters in the restive canal city, an AFP correspondent said. The blaze, which started in the ground floor of the security headquarter
Published 05 Mar, 2013 12:00am
HIV cured in baby for the first time

HIV cured in baby for the first time

Researchers said Sunday they had, for the first time, cured a baby born with HIV - a development that could help improve treatment of babies infected at birth. There is an important technical nuance: researchers insist on calling it a "functional cure" ra
Published 05 Mar, 2013 12:00am
India to consider lifting curbs on sugar sector

India to consider lifting curbs on sugar sector

India is set to consider relaxing controls on the sugar industry, a minister said on Monday, as the prospect of high output this year creates the conditions for liberalisation without a sharp rise in prices. The world's biggest sugar consumer has been exp
Published 05 Mar, 2013 12:00am
Shanghai copper falls

Shanghai copper falls

The most-traded June copper contract on the Shanghai Futures Exchange fell 1.05 percent to 56,310 yuan ($9,000) a tonne. It earlier slipped to its lowest in three months at 56,060 yuan, catching up with London copper's Friday losses. Property sector curbs
Published 05 Mar, 2013 12:00am
Copper rebounds

Copper rebounds

Copper rose on Monday, rebounding from three-month lows hit in the previous session, but gains were kept in check by a political stalemate in the United States and Italy, and by plans in top consumer China for tighter property sector controls. Three-month
Published 05 Mar, 2013 12:00am
Oil falls on slowing Chinese economy, ample US supply

Oil falls on slowing Chinese economy, ample US supply

US oil futures fell to their lowest level in 2013 on Monday, declining for a third consecutive session in reaction to slowing growth in China and indicators that oil markets are amply supplied. Brent crude fell for a fifth straight session, reversing slig
Published 05 Mar, 2013 12:00am
Tokyo rubber lower

Tokyo rubber lower

Benchmark Tokyo rubber futures edged down on Monday, reversing 1-percent gains chalked up earlier in the session, as weaker oil prices dragged, dealers said. The benchmark rubber contract on the Tokyo Commodity Exchange, for August delivery, dropped 0.2 y
Published 05 Mar, 2013 12:00am
Palm oil inches up

Palm oil inches up

Malaysian palm oil futures inched up on Monday, pulling out of an oversold situation to snap eight straight sessions of losses while investors keep an eye on an industry conference for more clues on the vegetable oil's outlook. Palm prices fell more than
Published 05 Mar, 2013 12:00am
Cocoa futures fall to multi-month lows

Cocoa futures fall to multi-month lows

Cocoa futures fell to multi-month lows on Monday as favourable weather in West Africa and expectations of bigger crops pressured prices, while ICE raw sugar and arabica coffee futures rose from recent multi-year lows. Abundant rainfall in principal growin
Published 05 Mar, 2013 12:00am
Gold rises in Asia

Gold rises in Asia

Gold inched up on Monday, bouncing from a one-week low hit on Friday, supported by physical buying in Asia, but robust US economic data dented bullion's safe-haven appeal. Automatic spending cuts that kicked off in the United States on Friday, pushing spo
Published 05 Mar, 2013 12:00am
Gold steadies in Europe

Gold steadies in Europe

Gold prices steadied on Monday as a firmer tone to the dollar offset earlier gains resulting from soft euro zone data and political deadlock in Italy and the United States, which hit riskier assets including stocks. Gold is down more than 5 percent this y
Published 05 Mar, 2013 12:00am
US MIDDAY: wheat falls

US MIDDAY: wheat falls

US wheat futures fell for the first time in five sessions on Monday as melting snow eased concerns about persistent dryness in key growing areas of the Great Plains. Warming temperatures in the drought-stricken US Plains are melting piles of snow that acc
Published 05 Mar, 2013 12:00am
US MIDDAY: gold down

US MIDDAY: gold down

Gold prices eased on Monday as demand waned for gold-backed exchange funds and investors continued to digest the effect of wide-ranging US government spending cuts on bullion prices. Trading was quiet as a lack of major US economic indicators and a flat U
Published 05 Mar, 2013 12:00am
Abbas Town blast toll rises to 50: FIR not yet registered

Abbas Town blast toll rises to 50: FIR not yet registered

The death toll of Abbas Town blast rose to 50 while the case was not registered despite the passage of over 24 hours after the blast. According to sources, the investigation team of police was unable to dig out the details of the vehicle used in the blast
Published 05 Mar, 2013 12:00am
Former Ogra chief case: notice issued to NAB chief

Former Ogra chief case: notice issued to NAB chief

The Supreme Court on Monday issued notice to Chairman National Accountability Bureau (NAB) to explain why criminal negligence was shown in implementing the court order to arrest former Chairman Oil and Gas Regulatory Authority (Ogra) Tauqir Sadiq. Heading
Published 05 Mar, 2013 12:00am
Punjab governor meets Zardari

Punjab governor meets Zardari

Governor Punjab Makhdoom Syed Ahmad Mahmood called on President Asif Ali Zardari at the Governor House, Lahore on Monday and briefed him about situation in Punjab.
Published 05 Mar, 2013 12:00am
Unclaimed deposits data: SBP revises reporting format

Unclaimed deposits data: SBP revises reporting format

The State Bank of Pakistan (SBP) has revised format for reporting of surrendering of unclaimed deposits/instruments. According to SBP's CPD Circular Letter No 2 of 2013, issued on Monday, keeping in view the difficulties faced by banks/DFIs in uploading t
Published 05 Mar, 2013 12:00am
TPL Trakker Limited

TPL Trakker Limited

TPL Trakker Limited is the premier satellite-based vehicle tracking company of the country in terms of market share. It is also the domestic pioneer of the use of such technology in the country. TPL Trakker Ltd was listed at the Karachi Stock Exchange in
Published 05 Mar, 2013 12:00am
TPL Trakker Limited

TPL Trakker Limited

TPL Trakker Limited is the premier satellite-based vehicle tracking company of the country in terms of market share. It is also the domestic pioneer of the use of such technology in the country. TPL Trakker Ltd was listed at the Karachi Stock Exchange in
Published 05 Mar, 2013 12:00am
PSM clarification

PSM clarification

With reference to news item carried by Business Recorder Karachi, on 26.02.2012, entitled "Violation of rules pointed out in PSM tenders". The Spokesman for Pakistan Steel clarified that the letter of Transparency International Pakistan addressed t
Published 05 Mar, 2013 12:00am
Container scam: Supreme Court to release order in two days

Container scam: Supreme Court to release order in two days

The Supreme Court will release in the next two days a written order on non-implementation of its order in the International Security Assistance Force (Isaf) container scam case. A three-judge bench of the Chief Justice Iftikhar Muhammad Chaudhry, Justice
Published 05 Mar, 2013 12:00am
Ogra de-notifies recent hike in POL prices

Ogra de-notifies recent hike in POL prices

The Oil and Gas Regulatory Authority (Ogra) finally de-notified the recent increase in the prices of petroleum products and now the commodities would be sold at the prices of February 28. According to the notification issued here on Monday, the petrol aft
Published 05 Mar, 2013 12:00am
PBC chairman, board elected

PBC chairman, board elected

The Board of Directors of Pakistan Business Council (PBC) elected Sikander Mustafa Khan as the new Chairman of PBC at its meeting held here on February 28. Members of PBC had earlier elected a 13-member board which besides Sikander Mustafa Khan includes A
Published 05 Mar, 2013 12:00am
Country deeply divided politically, socially: survey

Country deeply divided politically, socially: survey

No matter who wins Pakistan's general election scheduled for May, the next government will have to reckon with a strong opposition, a new survey by a German institute showed. The survey by Heinrich Boll Stiftung gave a narrow lead in favour of Pakistan Pe
Published 05 Mar, 2013 12:00am
All Punjab bars observe mourning day

All Punjab bars observe mourning day

All the bars in the province observed mourning day on Monday after deaths in Karachi blast. Pakistan Bar Council and Punjab Bar Council, Supreme Court Bar Association, Lahore High Court Bar Association had asked the legal fraternity to observed mourn day.
Published 05 Mar, 2013 12:00am
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