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Print - 2013-06-23
SRW wheat export premiums fall

SRW wheat export premiums fall

Soft red winter wheat export premiums at the US Gulf Coast declined on Friday on weak export demand and rising supplies from an accelerating harvest, traders said. Hard red winter wheat premiums were steady to weak, also pressured by rising supplies of ne
Published 23 Jun, 2013 12:00am
US natural gas futures end lower as forecasts turn milder

US natural gas futures end lower as forecasts turn milder

US natural gas futures ended lower on Friday for the second straight day, pressured by a slightly milder trend in the extended weather outlook despite expectations for some near-term heat that should kick up demand in the Northeast and Midwest.
Published 23 Jun, 2013 12:00am
US Midwest corn, soya bids mostly steady

US Midwest corn, soya bids mostly steady

Spot basis bids for corn and soyabeans held mostly steady around the US Midwest on Friday as a decline in futures at the Chicago Board of Trade slowed the already seasonally reduced offerings from farmers and commercial elevators, dealers said.
Published 23 Jun, 2013 12:00am
Russia's 2013-14 wheat exports to nearly double

Russia's 2013-14 wheat exports to nearly double

Russia's exportable wheat surplus could reach 18-20 million tonnes in 2013/14, compared with exports of around 11 million tonnes in the current 2012/13 season, the head of its Grain Union said on Thursday. Earlier in June, the government forecast that nex
Published 23 Jun, 2013 12:00am
Strategie Grains raises EU wheat crop by 600,000 tonnes

Strategie Grains raises EU wheat crop by 600,000 tonnes

French analyst Strategie Grains lifted its forecast for this year's soft wheat harvest in the European Union due to higher yield estimates following favourable weather conditions in many parts of the bloc in the last few weeks. Soft wheat output in the 28
Published 23 Jun, 2013 12:00am
Canadian canola futures fall

Canadian canola futures fall

ICE Canadian canola futures dipped on Friday, weakened by lower soybeans and profit-taking, but the nearby contract registered its first weekly gain in three weeks. Weak Canadian dollar limited canola's losses. Nearby July canola fell further than Novembe
Published 23 Jun, 2013 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 135,925 tonnes of cargo comprising 105,323 tonnes of import cargo and 30,602 tonnes of export cargo including 6,640 loaded and empty containers during the last 24 hours ended at 0700 hours on Saturday. The total import cargo of 10
Published 23 Jun, 2013 12:00am
Indian coffee prices lower

Indian coffee prices lower

Coffee prices in India, the world's fifth-biggest producer, eased on lack of export demand at a weekly auction. Arabica Plantation PB and A grade price were lower by 150-200 per 50 kg compared with the last sale, auctioneer J. Thomas & Co Pvt Ltd said in
Published 23 Jun, 2013 12:00am
Indian corn seen higher on slack supply

Indian corn seen higher on slack supply

Corn futures in India are expected to trade higher next week on a squeeze in local supplies and dwindling stocks, though the good progress of sowing due to plentiful monsoon rains are seen weighing on sentiment. Farmers have started sowing, and the fast p
Published 23 Jun, 2013 12:00am
Palm oil on European vegetable oils market down

Palm oil on European vegetable oils market down

Palm oil on the European vegetable oils market eased on Friday following a sell-off in global commodity markets and a lower Malaysian ringgit. "The weaker levels for many products on the European cash market were mostly the effect of the US Federal Reserv
Published 23 Jun, 2013 12:00am
Asian stocks to lead the way to year's end

Asian stocks to lead the way to year's end

Asia will spearhead the rise in global stock markets from now until the end of the year, according to a worldwide Reuters poll that showed only modest gains ahead for North American and European shares. Respondents also showed they expected the US Federal
Published 23 Jun, 2013 12:00am
Wall Street rally to continue as long as Fed holds steady

Wall Street rally to continue as long as Fed holds steady

After blistering gains in the first half of 2013, the US stock rally is expected to decelerate in the latter part of the year, advancing modestly beyond record highs, a Reuters poll found. The S&P 500 has jumped 15 percent year-to-date, repeatedly notchin
Published 23 Jun, 2013 12:00am
Nikkei seen rising 51 percent in 2013

Nikkei seen rising 51 percent in 2013

Japan's Nikkei will rise 51 percent in 2013 on expectations of higher company earnings, driven by a weaker yen after Prime Minister Shinzo Abe embarked on radical fiscal and monetary expansionary policies to spur growth, a Reuters poll showed, A gradual e
Published 23 Jun, 2013 12:00am
China likely to end nine-month IPO freeze at end of July

China likely to end nine-month IPO freeze at end of July

China is likely to resume approving initial public offerings at the end of July, sources quoted a senior regulator as saying on Tuesday, after a freeze since October as part of efforts to crack down on wrongdoing and restore investor confidence.
Published 23 Jun, 2013 12:00am
Indian bonds post worst week in nearly a year

Indian bonds post worst week in nearly a year

Indian bonds fell for a second consecutive session, posting their worst weekly loss in nearly a year as foreign investors sold heavily on the back of a fall in the rupee to record lows and narrowing differentials with US Treasury yields. The yield on the
Published 23 Jun, 2013 12:00am
Indian bonds post worst week in nearly a year

Indian bonds post worst week in nearly a year

Indian bonds fell for a second consecutive session, posting their worst weekly loss in nearly a year as foreign investors sold heavily on the back of a fall in the rupee to record lows and narrowing differentials with US Treasury yields. The yield on the
Published 23 Jun, 2013 12:00am
Italian, Spanish debt stabilises, Bunds hit five-month low

Italian, Spanish debt stabilises, Bunds hit five-month low

German Bund futures hit five-month lows on Friday on prospects of reduced US monetary stimulus, but Italian and Spanish debt stabilised after a deep sell-off the previous day. Greek government bonds underperformed other euro zone paper, with borrowing cos
Published 23 Jun, 2013 12:00am
Italian, Spanish debt stabilises, Bunds hit five-month low

Italian, Spanish debt stabilises, Bunds hit five-month low

German Bund futures hit five-month lows on Friday on prospects of reduced US monetary stimulus, but Italian and Spanish debt stabilised after a deep sell-off the previous day. Greek government bonds underperformed other euro zone paper, with borrowing cos
Published 23 Jun, 2013 12:00am
Brazilian stocks collapse to over four-year low

Brazilian stocks collapse to over four-year low

Brazilian stocks tumbled on Friday to the lowest in more than four years as investors remained concerned about an end to the US Federal Reserve's bond-buying scheme, worried about the Brazilian economy and anxious over a mass protest movement. Mexican sto
Published 23 Jun, 2013 12:00am
TSX regains some ground, but Fed spurs big weekly loss

TSX regains some ground, but Fed spurs big weekly loss

Canada's main stock index ended higher on Friday on gains in banks and gold miners, but recorded its third straight week of heavy losses as the US Federal Reserve's signal of a coming pullback of its easy money policy spooked investors. The change in Fed
Published 23 Jun, 2013 12:00am
Treasuries outlook: more losses mark miserable week for US bond market

Treasuries outlook: more losses mark miserable week for US bond market

US Treasuries prices fell on Friday and yields rose to their highest in over 22 months, marking a miserable week for the bond market as investors fled in the wake of a signal from the Federal Reserve that it might pare its bond purchases later this year.
Published 23 Jun, 2013 12:00am
Treasuries outlook: more losses mark miserable week for US bond market

Treasuries outlook: more losses mark miserable week for US bond market

US Treasuries prices fell on Friday and yields rose to their highest in over 22 months, marking a miserable week for the bond market as investors fled in the wake of a signal from the Federal Reserve that it might pare its bond purchases later this year.
Published 23 Jun, 2013 12:00am
Wall Street ends slightly up but slumps for the week

Wall Street ends slightly up but slumps for the week

US stocks ended mostly higher on Friday, with the Dow and S&P 500 ending two days of heavy losses, though traders continued to fret over planned changes to the Federal Reserve's easy money policy. Major indices posted their biggest weekly declines since A
Published 23 Jun, 2013 12:00am
Eurozone inflation outlook ebbs, but ECB to stand pat

Eurozone inflation outlook ebbs, but ECB to stand pat

Long-run expectations for euro zone inflation have ebbed to their weakest in around three years as the growth outlook remains tepid, according to a Reuters poll of economists on Wednesday. The vast majority of more than 60 economists surveyed this week, h
Published 23 Jun, 2013 12:00am
Food Network to drop Paula Deen amid racial slur controversy

Food Network to drop Paula Deen amid racial slur controversy

The Food Network said on Friday it would drop celebrity chef Paula Deen after the Southern food doyenne was sued for racial discrimination and admitted in a legal deposition to using a racial slur in the past. The impending loss of Deen's broadcast deal r
Published 23 Jun, 2013 12:00am
Swiss tax windfall boosts UK public finances in May

Swiss tax windfall boosts UK public finances in May

A windfall payment of tax by Swiss banks caused Britain's public finances to post a smaller-than-expected deficit in May, and underlying figures suggested the government was on track to meet its budget target this year. Deficit reduction is the central ec
Published 23 Jun, 2013 12:00am
Mobiles offer financial lifeline to Asian migrants

Mobiles offer financial lifeline to Asian migrants

Asia's mobile revolution is set to transform the region's financial services industry, offering a cheap way for millions of migrant workers to send money home to their families, a report said on Monday. Nearly 60 million migrant workers from the Asia-Paci
Published 23 Jun, 2013 12:00am
Italy should reverse parts of Monti's labour reform: OECD

Italy should reverse parts of Monti's labour reform: OECD

Italy should repeal parts of the labour reform adopted last year by former prime minister Mario Monti and make it easier to hire young workers on temporary contracts, the OECD's chief economist told Reuters in an interview on Friday. Prime Minister Enrico
Published 23 Jun, 2013 12:00am
Ethiopia must give private sector a bigger push: World Bank

Ethiopia must give private sector a bigger push: World Bank

Ethiopia should ensure private industry and business has sufficient access to finance in the state-dominated economy to keep growth rates up and shift from a heavy reliance on agriculture, the World Bank said. The Horn of Africa nation with its strongly s
Published 23 Jun, 2013 12:00am
Sri Lankan rupee drops to near six-month low

Sri Lankan rupee drops to near six-month low

Sri Lanka's rupee hit a more than six-month low in early trade on Friday on dollar demand for equity-related transactions, but late exporter selling of the greenback helped the currency to hold ground, dealers said. The rupee hit 129.00/10 per dollar, its
Published 23 Jun, 2013 12:00am
Canadian dollar stumbles to 19-month low

Canadian dollar stumbles to 19-month low

The Canadian dollar dropped more than a cent on Friday to hit its weakest level against the greenback since December 2011 after Canadian inflation data for May came in below expectations. A jump in natural gas prices nudged Canada's annual inflation rate
Published 23 Jun, 2013 12:00am
Dollar rallies on prospect of Fed scaling back stimulus

Dollar rallies on prospect of Fed scaling back stimulus

The US dollar remained on track Friday for its biggest weekly advance against major currencies since July 2012, extending gains after the Federal Reserve laid out its plans on Wednesday to begin scaling back its economic stimulus efforts. The euro fell to
Published 23 Jun, 2013 12:00am
Euribor rates rise as stimulus expectations wane

Euribor rates rise as stimulus expectations wane

Euribor bank-to-bank lending rates rose on Friday after the US central bank earlier in the week signalled an end to easy money and markets remain unconvinced that the European Central Bank will provide more support to the euro zone economy. Federal Reserv
Published 23 Jun, 2013 12:00am
Speculators cut long dollar bets to lowest since late February

Speculators cut long dollar bets to lowest since late February

Currency speculators slashed their bets in favour of the US dollar to the lowest since late February, according to weekly data from the Commodity Futures Trading Commission released on Friday. The value of the dollar's net long position fell to $14.55 bil
Published 23 Jun, 2013 12:00am
Latam currencies gain

Latam currencies gain

Latin American currencies strengthened on Friday, after at least two days of heavy losses that followed signals the US Federal Reserve is preparing to shut down its stimulus program. The Fed's bond-buying program has provided a steady source of dollars se
Published 23 Jun, 2013 12:00am
CEE currencies mostly steady, forint retreats

CEE currencies mostly steady, forint retreats

Central European currencies mostly steadied on Friday after a big sell-off sparked by global fears of an end to cheap money but Hungary's forint remained under pressure, hovering near the level of 300 per euro. In Prague, the stock market fell 1.9 percent
Published 23 Jun, 2013 12:00am
Murray spurred on by tearful Wimbledon defeat

Murray spurred on by tearful Wimbledon defeat

Andy Murray believes the seeds for his historic Olympic and US Open triumphs were sown by his tearful defeat to Roger Federer in last year's Wimbledon final. Murray was bidding to become Britain's first men's champion at the All England Club since Fred Pe
Published 23 Jun, 2013 12:00am
Vesnina sails to Eastbourne title

Vesnina sails to Eastbourne title

Elena Vesnina mastered testing, windy conditions on Saturday to win the second WTA title of her career with a 6-2, 6-1 defeat of Jamie Hampton at the ATP-WTA Eastbourne International. Vesnina will move up to 22nd in the world as a result of her success, w
Published 23 Jun, 2013 12:00am
Djokovic at his peak in Wimbledon lucky dip

Djokovic at his peak in Wimbledon lucky dip

Novak Djokovic believes he is at the peak of his powers as he targets a second Wimbledon title with his confidence buoyed by avoiding Roger Federer, Andy Murray and Rafael Nadal in the draw. The world number one and top seed captured the All England Club
Published 23 Jun, 2013 12:00am
Mahut wins maiden ATP title

Mahut wins maiden ATP title

Frenchman Nicolas Mahut won his first ATP title on Saturday taking the s'Hertogenbosch event with a 6-3, 6-4 victory over favourite Stanislas Wawrinka of Switzerland. The 31-year-old, whose ranking has slipped to 240th in the world after a knee injury, wa
Published 23 Jun, 2013 12:00am
Imran to lead Pakistan in World Hockey League

Imran to lead Pakistan in World Hockey League

Full-back Muhammad Imran has been retained to lead an 18-member Pakistan squad in World Hockey League Tournament being held in Johar Bahru (Malaysia) from June 28 to July 7. Team was named here on Saturday by Manager-cum-chief coach Akhtar Rasool at the c
Published 23 Jun, 2013 12:00am
Sharapova blasts Serena over rape row, private life

Sharapova blasts Serena over rape row, private life

Maria Sharapova blasted Serena Williams on Saturday for the American's controversial comments over a high-profile rape case and even criticised the Wimbledon champion's colourful private life. In an astonishing attack on the world number one, which comes
Published 23 Jun, 2013 12:00am
Messi is innocent of tax fraud: lawyers

Messi is innocent of tax fraud: lawyers

Barcelona star Lionel Messi's lawyers said Friday they "firmly believe" the Argentine player, who is accused of avoiding paying tax on income generated from the sale of his image rights, is innocent. The 25-year-old four-time World Player of the Year and
Published 23 Jun, 2013 12:00am
Aamer Sohail calls for complete overhauling in PCB

Aamer Sohail calls for complete overhauling in PCB

Former skipper Aamer Sohail has called for complete overhauling in Pakistan Cricket Board (PCB) set-up for the betterment of the support. Pakistan cricket would struggle like hockey and squash, he said while giving his comments on a private TV channel on
Published 23 Jun, 2013 12:00am
Gay sprints to year's fastest 100 metres to defeat Gatlin

Gay sprints to year's fastest 100 metres to defeat Gatlin

Tyson Gay overcame Olympic bronze medallist Justin Gatlin's quicker start and sped to the year's fastest 100 metres, clocking 9.75 seconds at the US trials for the world championships on Friday. Fully fit for the first time in years, Gay took control mid-
Published 23 Jun, 2013 12:00am
Dhoni predicts entertaining final

Dhoni predicts entertaining final

India captain Mahendra Singh Dhoni hopes the keen tussle between his young team and hosts England will produce an exciting Champions Trophy final on Sunday. "England are a very good side and they know the conditions well. We have also played well in a tou
Published 23 Jun, 2013 12:00am
England 'ready' to end One-day drought, says Cook

England 'ready' to end One-day drought, says Cook

England captain Alastair Cook insisted his side were "ready" to make history by beating world champions India in Sunday's Champions Trophy final at Edgbaston. The final, worth $2 million to the winners and $1 million to the runners-up, will be contested b
Published 23 Jun, 2013 12:00am
Lufthansa says new low-cost brand off to good start

Lufthansa says new low-cost brand off to good start

Lufthansa said that a project to merge some of its European and German domestic routes under a new low-cost brand has started successfully, as the airline grapples with losses at its European short-haul flights. "The transition is going well," a Lufthansa
Published 23 Jun, 2013 12:00am
Japanese consortium, Gazprom to agree to build LNG plant

Japanese consortium, Gazprom to agree to build LNG plant

A consortium led by Japanese trading house Itochu Corp is likely to agree as early as Saturday to build an LNG plant in Russia with Gazprom , the Nikkei newspaper reported, to meet Japan's growing energy needs. The Japanese group and Russia's top energy p
Published 23 Jun, 2013 12:00am
UK opposition says would not borrow to reverse cuts

UK opposition says would not borrow to reverse cuts

Britain's opposition Labour Party would not borrow more money to reverse spending cuts by Prime Minister David Cameron's coalition government should it win the next election due in 2015, its leader Ed Miliband said on Saturday. Although polls show Labour
Published 23 Jun, 2013 12:00am
Freeport resumes some output at world's No 2 copper mine

Freeport resumes some output at world's No 2 copper mine

Freeport McMoRan Copper and Gold Inc has restarted some operations at the world's second biggest copper mine after receiving approval from the Indonesian government, a senior company official told Reuters on Saturday. The Arizona-based company has slowly
Published 23 Jun, 2013 12:00am
Shipping company TMT Group files for bankruptcy

Shipping company TMT Group files for bankruptcy

TMT Group, a large global shipping company, has filed for bankruptcy protection, saying it was unable to restructure its debt after industry conditions deteriorated. Twenty-three entities collectively known as TMT, whose 17 vessels transport cargo from oi
Published 23 Jun, 2013 12:00am
US likely to extend old farm law after House derails new bill

US likely to extend old farm law after House derails new bill

The US Congress is headed for a second stop-gap extension of current farm law if Republican leaders in the House of Representatives cannot get new legislation back on track after a stunning defeat. Farm lobbyists and analysts on Friday said a short-term e
Published 23 Jun, 2013 12:00am
MUFG plans $4.1 billion buy of Thai Bank of Ayudhya

MUFG plans $4.1 billion buy of Thai Bank of Ayudhya

Japan's Mitsubishi UFJ Financial Group (MUFG) is in advanced talks to acquire a majority stake in Bank of Ayudhya Pcl, Thailand's fifth-largest lender, in a deal worth over $4 billion, sources familiar with the matter said on Saturday, marking a major tur
Published 23 Jun, 2013 12:00am
Assad lifts Syrian wages

Assad lifts Syrian wages

President Bashar al-Assad ordered pay rises for Syrian soldiers and government employees on Saturday to address steep increases in the cost of living caused by the two-year uprising against his rule. State media said the pay hikes would raise monthly wage
Published 23 Jun, 2013 12:00am
Britain, China set up three-year pound/renminbi swap line

Britain, China set up three-year pound/renminbi swap line

The central banks of Britain and China have agreed to establish a three-year sterling/renminbi currency swap line, the Bank of England said in a statement on Saturday. The swap line, which has a maximum value of 200 billion yuan ($32.6 billion), is aimed
Published 23 Jun, 2013 12:00am
Kuwait's KIPCO hires Rothschild to advise TV arm IPO

Kuwait's KIPCO hires Rothschild to advise TV arm IPO

Kuwait Projects Co (KIPCO), the country's largest investment company by assets, said on Saturday it had hired financial group Rothschild to advise on an initial public offering of its pay-TV company OSN. KIPCO, a major regional investment house with stake
Published 23 Jun, 2013 12:00am
Kuwait's KIPCO hires Rothschild to advise TV arm IPO

Kuwait's KIPCO hires Rothschild to advise TV arm IPO

Kuwait Projects Co (KIPCO), the country's largest investment company by assets, said on Saturday it had hired financial group Rothschild to advise on an initial public offering of its pay-TV company OSN. KIPCO, a major regional investment house with stake
Published 23 Jun, 2013 12:00am
Barclays under German taxman's gaze over tax credits

Barclays under German taxman's gaze over tax credits

German tax authorities are investigating Barclays over the use of legal loopholes which cut the British lender's tax bill by billions of euros, a German newspaper reported on Saturday. Daily Sueddeutsche Zeitung said German authorities obtained internal b
Published 23 Jun, 2013 12:00am
Barclays under German taxman's gaze over tax credits

Barclays under German taxman's gaze over tax credits

German tax authorities are investigating Barclays over the use of legal loopholes which cut the British lender's tax bill by billions of euros, a German newspaper reported on Saturday. Daily Sueddeutsche Zeitung said German authorities obtained internal b
Published 23 Jun, 2013 12:00am
EU Socialists to push for more youth jobs, industry

EU Socialists to push for more youth jobs, industry

The European Union's Socialists agreed to push for more incentives to battle youth unemployment across Europe and revitalise the bloc's industry during a party council in Sofia on Saturday. "Our job is to create jobs for the people and especially for the
Published 23 Jun, 2013 12:00am
Obama touts economic benefits of immigration overhaul

Obama touts economic benefits of immigration overhaul

US President Barack Obama Saturday touted the potential economic benefits of a major immigration overhaul currently under debate in Congress as he sought support for the landmark bill. The reforms under debate would provide a pathway to citizenship for th
Published 23 Jun, 2013 12:00am
New shuttle Atlantis exhibit gives close-up look at space flight

New shuttle Atlantis exhibit gives close-up look at space flight

In deciding how to exhibit the space shuttle Atlantis, which goes on display next week, the Kennedy Space Center Visitor Complex in Florida opted for a perspective that would allow the public a rare view. "One of the ideas that developed very early was to
Published 23 Jun, 2013 12:00am
British spy agency taps cables, shares with US NSA

British spy agency taps cables, shares with US NSA

Britain's spy agency GCHQ has tapped fibre-optic cables that carry international phone and internet traffic and is sharing vast quantities of personal information with the US National Security Agency, the Guardian newspaper said on Friday. The paper, whic
Published 23 Jun, 2013 12:00am
Gunman shoots four outside North Carolina law firm, Walmart

Gunman shoots four outside North Carolina law firm, Walmart

A man armed with a shotgun and a bag of ammunition opened fire outside a law firm and a Walmart store in Greenville, North Carolina, on Friday, shooting four people before police shot him, the city's police chief said. The suspect and the victims underwen
Published 23 Jun, 2013 12:00am
One dead, thousands without power after storms hit US Midwest

One dead, thousands without power after storms hit US Midwest

One woman is dead and more than 200,000 homes and businesses are without power in the upper Midwest on Saturday after severe thunderstorms struck parts of the Dakotas, Minnesota, and Wisconsin with damaging winds, lightning and baseball-sized hail.
Published 23 Jun, 2013 12:00am
Miss Algeria crowned for first time in 10 years

Miss Algeria crowned for first time in 10 years

After an absence of 10 years, the Miss Algeria beauty contest was held Friday in the western city of Oran, with 19-year-old science student Rym Amari taking the pageant honours. The competition was suspended in 2003 after the death of Cheradi Hamdad, who
Published 23 Jun, 2013 12:00am
Police disperse Istanbul protesters with water cannon

Police disperse Istanbul protesters with water cannon

Turkish police used water cannon on Saturday to disperse thousands of demonstrators who had gathered anew in Istanbul's Taksim Square, calling for the resignation of Prime Minister Recep Tayyip Erdogan. Hundreds of riot police backed up by water cannon tr
Published 23 Jun, 2013 12:00am
Hamas executes two Palestinians

Hamas executes two Palestinians

Hamas leaders said they had hanged two Palestinians found guilty of spying for Israel over a decade, making them the first to be executed since the end of a month-long amnesty for informants in April. Sixteen Palestinians have been executed in Gaza for sp
Published 23 Jun, 2013 12:00am
Al Qaeda says hostages in North Africa alive, open to talks

Al Qaeda says hostages in North Africa alive, open to talks

Eight European hostages, including five from France, being held by al Qaeda in the Islamic Maghreb (AQIM) are safe, the Islamist group said in a statement posted on its Twitter account on Saturday. The statement coincided with rallies across France organi
Published 23 Jun, 2013 12:00am
Thousands rally in Malaysia for polls reform

Thousands rally in Malaysia for polls reform

About 20,000 Malaysian opposition supporters gathered in the capital Saturday demanding the resignation of the country's Election Commission in the wake of contentious polls. The opposition claims bias by the commission cost them a historic win against Ma
Published 23 Jun, 2013 12:00am
Singapore smog eases as Indonesian planes waterbomb fires

Singapore smog eases as Indonesian planes waterbomb fires

Air quality in Singapore improved significantly to "moderate" pollution levels on Saturday, as Indonesian planes waterbombed raging forest fires and investigators scrambled to determine the cause of one of Southeast Asia's worst air pollution crises.
Published 23 Jun, 2013 12:00am
Russian rights group evicted from Moscow office

Russian rights group evicted from Moscow office

Authorities forcibly evicted a prominent Russian human rights organisation from its office in the early hours of Saturday in a raid its director said he believed was ordered by officials in President Vladimir Putin's administration. For Human Rights is on
Published 23 Jun, 2013 12:00am
Indonesia moves to keep wheat flour import tariff

Indonesia moves to keep wheat flour import tariff

Indonesia's trade ministry will propose indefinitely extending a temporary 20 percent emergency tariff on wheat flour imports, an official said on Tuesday, as Asia's top importer of the grain looks to protect its expanding wheat mill industry against subs
Published 23 Jun, 2013 12:00am
South Africa's maize output seen down

South Africa's maize output seen down

The South African government is expected next week to further cut the country's maize output forecast for 2013 as a drought earlier this year hurt crop growth, a Reuters survey showed on Thursday. In its fourth output forecast last month, the government's
Published 23 Jun, 2013 12:00am
Central America, Mexico 2013-14 coffee output to plunge

Central America, Mexico 2013-14 coffee output to plunge

Central America and Mexico 2013/14 coffee output is expected to plunge as a severe outbreak of roya, or leaf rust, cuts production, an executive at the International Coffee Organisation (ICO) told Reuters on Wednesday. Ricardo Villanueva, president of the
Published 23 Jun, 2013 12:00am
Indian cotton seen falling on profit-taking

Indian cotton seen falling on profit-taking

Cotton prices in India are expected to fall this week as traders may book profit after recent gains and on the good progress of the monsoon, though dwindling supplies are seen restricting the downside. Rains have covered the entire country a month ahead o
Published 23 Jun, 2013 12:00am
Black Sea wheat makes Asia comeback after three years

Black Sea wheat makes Asia comeback after three years

Wheat buyers in Asia are looking to replace Indian and Australian cargoes in the lower-end feed grain market with cheaper supplies from the Black Sea, which will be returning to the region after a three-year gap. But quality-sensitive consumers in Asia ar
Published 23 Jun, 2013 12:00am
New York gold up, but drop for week is biggest since September 2011

New York gold up, but drop for week is biggest since September 2011

Gold rose 1.3 percent on Friday, rebounding from nearly a three-year low earlier, but for the week it still dropped the most in nearly two years after the US Federal Reserve's most explicit indication to end its stimulus sparked a global market rout.
Published 23 Jun, 2013 12:00am
Cocoa's steep slide leaves it dangling above next support area

Cocoa's steep slide leaves it dangling above next support area

Cocoa on ICE Futures US fell below two Fibonacci retracement support lines in its last two trading days, and though buyers appeared at Monday's lows, a rupture of next support levels would lead bean prices back to early April levels, or lower. New York co
Published 23 Jun, 2013 12:00am
Bangladesh gets lowest bid in sugar purchase tender

Bangladesh gets lowest bid in sugar purchase tender

Trading Corporation of Bangladesh has received the lowest offer of $543.50 a tonne, including cost and freight, from Singapore's AgroCorp International in a sugar purchase tender, an official at the state buyer said on Monday. The tender to buy 12,500 ton
Published 23 Jun, 2013 12:00am
Brazil storage fire may disrupt sugar shipments: ICE

Brazil storage fire may disrupt sugar shipments: ICE

ICE Futures US said on Wednesday a fire at an inland storage facility in Brazil that services the port of Paranagua may disrupt shipments of raw sugar from the world's No 1 producer ahead of the expiry of the July contract on June 28. The extent of damage
Published 23 Jun, 2013 12:00am
ICE cotton lower, notches biggest weekly loss in a year

ICE cotton lower, notches biggest weekly loss in a year

ICE cotton fell for a fifth straight session in actively traded months on Friday and notched its biggest weekly loss in a year as speculative investors continued to exit their bullish bets as concerns waned about tight supplies. The benchmark December cot
Published 23 Jun, 2013 12:00am
Commodity prices slump after Fed signal

Commodity prices slump after Fed signal

Global commodity prices dived last week, in line with world stock markets, on concerns over the US Federal Reserve ending its multi-billion dollar economic stimulus measures, as well as owing to poor Chinese manufacturing data, analysts said. "The Fed has
Published 23 Jun, 2013 12:00am
Public Service Day today

Public Service Day today

The United Nations' Public Service Day will be celebrated on June 23 to celebrate the value and virtue of service to the community. The day recognises that democracy and successful governance are built on the foundation of a competent civil service. The U
Published 23 Jun, 2013 12:00am
Speakers highlight bottlenecks in EDR mechanism

Speakers highlight bottlenecks in EDR mechanism

Members of civil society organisation at a seminar have highlighted the bottlenecks in the mechanism for resolution of election related disputes, and stressed the need of amendments in the existing mechanisms for making more effective the elections disput
Published 23 Jun, 2013 12:00am
Traffic management campaign launched

Traffic management campaign launched

Islamabad Traffic Police on Saturday launched seven days traffic management campaign aiming to impart traffic rules among the road users to ensure save journey. Inspector General of Police Islamabad Police Baniyamin Khan inaugurated the campaign. Talking
Published 23 Jun, 2013 12:00am
CNG cylinder issue: transporters' strike enters third day

CNG cylinder issue: transporters' strike enters third day

Public transporters continued their strike in the twin cities of Rawalpindi/Islamabad for the third consecutive day on Saturday against ban on installing more than one CNG cylinder in their vehicles, which added to the woes of commuters.
Published 23 Jun, 2013 12:00am
Spotlight: clarification

Spotlight: clarification

Apropos an article published in Business Recorder on 18th June 2013 wherein the writer has made the following remarks: "Attorneys general appointed by the Executive one after another obstructed the Supreme Court at every stage instead of assisting
Published 23 Jun, 2013 12:00am
Aafia's release: Nisar urged to make renewed efforts

Aafia's release: Nisar urged to make renewed efforts

Dr Fouzia Siddiqui, sister of Dr Aafia Siddiqui, called on Federal Minister for Interior, Chaudhry Nisar Ali Khan on Saturday. During the meeting, Dr Fouzia Siddiqui presented various facts relating to incarceration of Dr Aafia Siddiqui in the United Stat
Published 23 Jun, 2013 12:00am
Metro being replicated in Punjab's other cities: PML-N

Metro being replicated in Punjab's other cities: PML-N

Pakistan Muslim League-Nawaz (PML-N) leader, Khawaja Ahmad Hasan has said that metro bus projects would be started in Rawalpindi, Faisalabad and Multan during current financial year for providing affordable and modern transport facilities to the people.
Published 23 Jun, 2013 12:00am
SBP's role in promotion of electronic services highlighted

SBP's role in promotion of electronic services highlighted

Lutfullah Khan, Chairman and CEO AutoSoft Dynamics, said on Saturday that the State Bank of Pakistan (SBP) has played a very effective and prominent role in pursuing banks to offer new technology and ensure electronic services to customers. With time the
Published 23 Jun, 2013 12:00am
Government urged to float $5 billion bonds on international market

Government urged to float $5 billion bonds on international market

Economist Dr Akmal Hussain has suggested that the government should float bonds worth dollar five billion on the international market to tackle the problem of circular debt which is root cause of power crisis in the country. While addressing the post-budg
Published 23 Jun, 2013 12:00am
Government urged to float $5 billion bonds on international market

Government urged to float $5 billion bonds on international market

Economist Dr Akmal Hussain has suggested that the government should float bonds worth dollar five billion on the international market to tackle the problem of circular debt which is root cause of power crisis in the country. While addressing the post-budg
Published 23 Jun, 2013 12:00am
Man tortured to death: LHC seeks report

Man tortured to death: LHC seeks report

The Lahore High Court (LHC) here Saturday directed District and Sessions Judge Faisalabad to look into the matter of murder of a man who was allegedly torture by policeman and submit a report within a week. The LHC took notice on a news item published in
Published 23 Jun, 2013 12:00am
MCCI hails interest rate cut

MCCI hails interest rate cut

The Multan Chamber of Commerce and Industry (MCCI) on Saturday hailed State Bank of Pakistan's (SBP) decision to cut interest rate by 0.5 per cent and said that it will help stimulate private sector growth. MCCI acting President Bakhtawar Tanvir Sheikh sa
Published 23 Jun, 2013 12:00am
Debate on budget continues despite lack of quorum in Punjab Assembly

Debate on budget continues despite lack of quorum in Punjab Assembly

General discussion on annual budget for the year 2013-14 continued in the Punjab Assembly on Saturday and the treasury members hardly made any constructive arguments by just praising the government for giving a 'balance budget.' On the contrary, the Oppos
Published 23 Jun, 2013 12:00am
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