Karachi interbank rates on Monday (November 19, 2007).

Venezuelan President Hugo Chavez said on Monday the "empire of the dollar is crashing", a day after his country and anti-US ally Iran advocated action over the weakening US currency during an Opec summit in Riyadh.

All timings are in PST (Pakistan Standard Time).

Venezuelan President Hugo Chavez said on Monday the "empire of the dollar is crashing", a day after his country and anti-US ally Iran advocated action over the weakening US currency during an Opec summit in Riyadh.

Thin business was seen on the grain market on Monday as most of the buyers were on the sidelines due to lack of interest, dealers said. On the cereal side, wheat old and new both type were lower by Rs 5 to Rs 1560-1575 in process of trading, other items w

At least a dozen people were killed in tribal clashes in Parachinar, taking the death toll to more than 100 in four days of clashes. Eight people were killed and 18 were wounded when a mortar bomb exploded in a bazaar in the Kurram tribal region, resident

Upward trend was again witnessed in the forward cottonseed oilcake market on Monday following the tight supply position, dealers said. The December vaida commenced gain at Rs 569.00 and closing was seen at the same level, dealers said. The January vaida s

At least a dozen people were killed in tribal clashes in Parachinar, taking the death toll to more than 100 in four days of clashes. Eight people were killed and 18 were wounded when a mortar bomb exploded in a bazaar in the Kurram tribal region, resident

Slow business was seen on the cotton market on Monday as leading players remained on the sidelines, keeping in view import of cotton due to higher trend in the local markets, dealers said. The Karachi Cotton Association (KCA) official spot rate was unchan

On Monday, BRIndex30 closed at 14,283.24 as it registered a net positive change of 186.26 points. The volume amounted to 122,635,400, which was 69.49 percent of the total market and 95.04 percent of KSE-100 index. The volumes of the KSE All Share and the

Tunisia has bought 32,000 tonnes of white sugar for delivery in March and April, a government official said on Monday. It paid $406.50 per tonne for the first lot of 14,000 tonnes and $414.75 per tonne for the remaining 18,000 tonnes, C&F, said the offici

On Monday, BRIndex30 closed at 14,283.24 as it registered a net positive change of 186.26 points. The volume amounted to 122,635,400, which was 69.49 percent of the total market and 95.04 percent of KSE-100 index. The volumes of the KSE All Share and the

The trading on tea side ended down on Jodia Bazaar here on Monday. The following variations were noted.

Fresh buying rally, led by oil and gas exploration sector stock, supported the KSE-100 index to close at 13,239.87 points level with a net gain of 157.86 points on Monday. The market witnessed heavy selling pressure in the initial hours and the index hit

Precious Shipping, Thailand's largest shipping firm, said on Monday it planned to spend $474 million on 15 new vessels to replace its ageing fleet. About 80 percent of the purchase by Precious, a dry bulk carrier, would be funded through bank loans and th

Fresh buying rally, led by oil and gas exploration sector stock, supported the KSE-100 index to close at 13,239.87 points level with a net gain of 157.86 points on Monday. The market witnessed heavy selling pressure in the initial hours and the index hit

US Plains hard red winter wheat basis bids were steady on Monday, with the market continuing to be mostly quiet, aside from scattered efforts by mills to fill spot needs, merchants said. Mills along the west coast were noted seeking fresh supplies. Farmer

Fresh buying rally, led by oil and gas exploration sector stock, supported the KSE-100 index to close at 13,239.87 points level with a net gain of 157.86 points on Monday. The market witnessed heavy selling pressure in the initial hours and the index hit

Spot basis bids for corn and soyabeans were steady to firm at processors and elevators around the US Midwest on Monday amid light selling from farmers, grain dealers said. Growers wanted to get an idea of what direction the futures market was headed this

Although Muhammedmian Soomro has sworn in as caretaker Prime Minister on November 16, but the Ministries of Foreign Affairs and Finance are still displaying the name of Shaukat Aziz as prime minister on their websites.

China's hefty appetite for raw materials may wane after next year's Olympics as social and inflationary pressures curb investment, London Metal Exchange director Phillip Crowson said on Monday.

The 80 million dollars 136MW power plant, set up by the United States-based Pakistan Power Resources (PPR) and the Associated Group (AG) in Bhikhi, Punjab, has started supplying 20MW of power to the national grid.

Dubai's International Diamond Laboratories (IDL), a diamond certifier, said on Monday it set up shop in the Gulf Arab emirate allowing traders to have their stones graded by high-tech machines instead of the human eye.

The 80 million dollars 136MW power plant, set up by the United States-based Pakistan Power Resources (PPR) and the Associated Group (AG) in Bhikhi, Punjab, has started supplying 20MW of power to the national grid.

Russian Black Sea grain export prices fell slightly last week as shipments were disrupted by stormy weather and a strike in the port of Tuapse, while the rising rouble pushed domestic sunseed prices up to new records.

The 80 million dollars 136MW power plant, set up by the United States-based Pakistan Power Resources (PPR) and the Associated Group (AG) in Bhikhi, Punjab, has started supplying 20MW of power to the national grid.

Singapore bunker prices jumped in tandem with stronger crude oil prices on Monday, while its discount to fuel oil cargo values narrowed slightly. Prices for the 380-centistoke (cst) grade were pegged at $482-$484 a tonne, up $8 from the previous session,

The Supreme Court on Monday dismissed five main petitions, which had blocked President Musharraf's oath taking as 'civilian' President. There now remains only one petition, of a civil servant, and that would be heard on Thursday.

Cocoa arrivals at ports in Ivory Coast reached around 351,000 tonnes between October 1 and November 18, compared with 223,027 tonnes in the same period a year ago, exporters estimated on Monday. Around 60,000 tonnes of beans arrived at the two ports in th

The Supreme Court on Monday dismissed five main petitions, which had blocked President Musharraf's oath taking as 'civilian' President. There now remains only one petition, of a civil servant, and that would be heard on Thursday.

Indonesian palm oil prices softened on Monday because of increasing supplies and lack of buying power despite gains in neighbouring Malaysia. At the state marketing centre in Jakarta which sells crude palm oil from state plantations, the oil was traded at

Benazir Bhutto said on Monday she had no immediate plans to revive US-backed power-sharing talks with President Pervez Musharraf amid the crisis over emergency rule. At the same time her party withdrew a legal challenge to his re-election as president, ar

US Gulf CIF corn and soyabean basis barge values held steady Monday morning as China continued to buy more cargoes of US soyabeans, traders said. Wheat values were unchanged amid news of Jordan buying hard wheat and India evaluating bids in its latest ten

Benazir Bhutto said on Monday she had no immediate plans to revive US-backed power-sharing talks with President Pervez Musharraf amid the crisis over emergency rule. At the same time her party withdrew a legal challenge to his re-election as president, ar

The Karachi Port handled 143,016 tonnes cargo including 92,834 tonnes import, 50,182 tonnes export cargo and 4,148 containers (TEUs) during last 48 hours ending at 0700 hours on Monday. The cargo comprised of 133,812 tonnes dry cargo including 93,246 tonn

World stock exchanges came under pronounced selling pressure Monday on lingering fears that banks remained vulnerable to further fallout from the collapse of the US high-risk mortgage market.

Asia middle distillates rose on Monday but gas oil's intermonth spread expanded to its highest in a month on strong demand from Europe and tight supplies from Asia. Reflecting the firmer market, the product's crack spread also strengthened while cash diff

World stock exchanges came under pronounced selling pressure Monday on lingering fears that banks remained vulnerable to further fallout from the collapse of the US high-risk mortgage market.

Global trading firms have offerred to supply wheat against a 350,000 tonne Indian import tender in the price range of $397-$487 per tonne, and Cargill has emerged as the lowest bidder, trade sources said on Monday.

World stock exchanges came under pronounced selling pressure Monday on lingering fears that banks remained vulnerable to further fallout from the collapse of the US high-risk mortgage market.

Shanghai zinc futures continued to spiral lower, falling 5 percent on Monday as investors slashed positions on fears of domestic oversupply and tax changes, while copper steadied following sharp falls in the previous session.

Shell and other private oil companies have expressed their inability to pay to the refineries for purchase of oil from December 1, saying the financing crunch due to rising prices in the international market and outstanding differential was becoming unman

Gold bounced back on Monday, on the back of a slide in the dollar and firm crude oil prices, but the precious metal lacked the drive to challenge the $800 yen level. Spot gold rose to $792.30/793.00 an ounce, from $784.80/$785.50 in late New York, but was

Shell and other private oil companies have expressed their inability to pay to the refineries for purchase of oil from December 1, saying the financing crunch due to rising prices in the international market and outstanding differential was becoming unman

Malaysian tin climbed 0.9 percent on Monday to hit a fresh record peak as strong demand at the price bolstered the market, one dealer said.

Shell and other private oil companies have expressed their inability to pay to the refineries for purchase of oil from December 1, saying the financing crunch due to rising prices in the international market and outstanding differential was becoming unman

Asia-Pacific crude came under pressure on Monday from news that Pertamina almost halved the term sweet crude it bought for the coming quarter, indicating lower overall Indonesian demand. Pertamina will buy a total of 2.75 million barrels a month between J

President Pervez Musharraf will visit Saudi Arabia on Tuesday for talks with King Abdullah, the official SPA news agency reported on Monday. Musharraf's trip to Saudi Arabia will be his first abroad since he imposed a state of emergency on November 3.

Oil extended gains on Monday, nearing $95 a barrel as the dollar fell and some Opec members pushed for action to stem their declining purchasing power. US light crude for January delivery the new front month contract, rose 71 cents to $94.55 a barrel, add

President Pervez Musharraf will visit Saudi Arabia on Tuesday for talks with King Abdullah, the official SPA news agency reported on Monday. Musharraf's trip to Saudi Arabia will be his first abroad since he imposed a state of emergency on November 3.

Jordan's state grains buyer has purchased 85,000 tonnes of hard wheat in a tender for 100,000 tonnes which closed on Sunday, European traders said on Monday. Some 50,000 tonnes was purchased at $412.50 a tonne c&f and the rest at $412.40 a tonne c&f. All

Indian soyaoil far-month contracts were almost flat on Monday as low demand in the physical market was off-set by firm Malaysian palm oil, analysts said. Near-month futures rose as traders covered short positions ahead of the contract expiry on November 2

Indian sugar futures climbed on Monday on hopes for more export orders in the coming weeks, while the current month contract was boosted by short covering to head off penalties. At 2:18 pm (0848 GMT), the December contract on the National Commodity and De

Asian fuel oil prices rebounded on Monday, but the market remained weak on bearish December sentiment, staying below the $500-mark for a fourth session while crack spreads weakened to its lowest level in a month. December supplies were boosted by a fifth-

Farmgate prices for cocoa in Cameroon have fallen in November as farmers anxious to earn money have brought their produce out of the bush to sell despite persistent rainfall and bad roads, buyers and farmers say.

Asian physical rubber prices were mostly firmer on Monday, supported by recovery in futures prices on the Tokyo Commodity Exchange. Physical supply is expected to increase this week due to improving weather in Thailand, the world's biggest rubber producer

Tokyo rubber futures rose on Monday as trading firms covered short hedging positions after seeing prices fall by more than 10 percent last week, but the momentum was limited by a weaker dollar versus the yen.

Malaysian crude palm futures rose 1.6 percent on Monday as financial players took up new positions after crude and rival soyaoil markets chalked up gains in Asian trade, traders said. The market also awaited export estimates for the first 20 days of Novem

Energy and food prices pose inflation risks for Germany in coming months, but the economy's underlying trend remains positive, Germany's central bank said on Monday. The country's Economy Ministry also warned that troubles in the US economy, the global cr

Sri Lanka's parliament Monday approved the country's budget for 2008 with an unprecedented 1.51 billion dollars allocated for defence. Legislators voted 118 for and 102 against the budget when it was taken up for a preliminary vote in the 225-member assem

Swiss Re, the world's biggest reinsurer, became the latest casualty of the subprime debt crisis on Monday as it revealed a 1.2 billion Swiss franc ($1.07 billion) writedown related to credit default swaps.

China's central bank voiced support for a strong dollar on Monday just as the country's premier expressed concerns over preserving the value of the nation's $1.43 trillion foreign exchange reserves.

Concerns over corruption has led to the World Bank withholding 33 million dollars in loans to finance road-building projects in the Philippines, the multilateral lender said Monday.

China lashed out on Monday against a US commission that accused it of currency manipulation and called for legislation imposing penalty tariffs on Chinese goods. Foreign ministry spokesman Liu Jianchao said the recommendations by the United States-China E

Opec countries are unlikely to ditch the ailing dollar for pricing oil exports in the short-term, analysts said on Monday, despite proposals from Iran and Venezuela to consider alternatives. Iran and Venezuela's demands are seen as political and not likel

Strong growth in Russia is set to make it Europe's second-biggest car market after Germany next year, the finance chief of General Motors Europe said at the Reuters Autos Summit in Frankfurt on Monday.

The British government is open to any measure to save mortgage bank Northern Rock as long as its depositors, the public purse and financial stability are not jeopardised, finance minister Alistair Darling said on Monday.

Taiwan blocked the appointment of China's first judge on the World Trade Organisation's highest court on Monday, in a surprise move likely to aggravate relations between the two rivals.

The German pharmaceutical and chemicals giant Bayer will invest one billion euros (1.46 billion dollars) over three years in environmental protection activities, it said Monday.

Construction workers have agreed to call off a strike at one of the stadia which is to host the 2010 football World Cup in South Africa, their union announced on Monday. "The strike has been called off with effect from today. The workers will report for w

Dubai lifted the stake it plans to sell in port operator DP World to 23 percent on stronger than expected demand, allowing it to raise as much as $4.96 billion in the Middle East's largest initial public offering.

Dubai lifted the stake it plans to sell in port operator DP World to 23 percent on stronger than expected demand, allowing it to raise as much as $4.96 billion in the Middle East's largest initial public offering.

British mobile phone giant Vodafone wants to increase its presence in China, according to comments by chief executive Arun Sarin published in the Financial Times on Monday.

Goldman Sachs & Co on Monday downgraded Citigroup Inc to "sell" from "neutral," and said the largest US bank may have to write off $15 billion over the next two quarters as mortgage losses reduce earnings.

A proposed merger between mining giants BHP Billiton and Rio Tinto would create a "virtual monopoly," a steelmakers' association warned Monday, urging antitrust watchdogs to block the deal.

Steel giant Arcelor-Mittal said on Monday it would increase prices for flat steel products in North America and Europe next year as a result of raw material and energy cost increases.

China now has more than 5.5 million private enterprises, state media said Monday, suggesting they are further consolidating their position in the officially socialist economy. The figure, taken at the end of June, was released by the All-China Federation

Malaysia's government plans to take back the 2.5 gigahertz (GHz) and 3.5 GHz broadband spectrum assigned to telecommunications firms to reduce the number of players, Communications Minister Lim Keng Yaik said on Monday.

Investors have been shifting their long-standing strategies in ways that suggest the current ructions on financial markets will not go away soon. In short order, they have cut back on their exposure to stocks in general, begun to have second thoughts abou

Investors have been shifting their long-standing strategies in ways that suggest the current ructions on financial markets will not go away soon. In short order, they have cut back on their exposure to stocks in general, begun to have second thoughts abou

Equatorial Guinea will invest 5,500 billion CFA francs ($12.26 billion) over five years in infrastructure programmes to diversify its economy away from its reliance on oil and gas, a government report said on Monday.

Singapore on Monday raised 2007 growth targets to 7.5-8.0 percent from 7.0-8.0 percent after the economy grew at a faster pace in the third quarter on the back of a strong performance in the financial and construction sectors.

Indonesia ordered the Singapore government's investment arm on Monday to sell its stake in one of two major Indonesian mobile phone firms within two years, also fining it for a breach of competition law. KPPU, the country's antitrust agency, said in a hea

Andrew Curry once loved going out for dinner and drinks in Berlin, feeling far wealthier in the German capital than he did at home in the United States. With the dollar now worth about 20 percent less than when he first arrived in 2005, the 30-year-old fr

A pledge by China's regulators to let fixed-line phone operators enter the faster-growing mobile market could lead to much greater competition in the telecom industry, analysts said Monday.

Europe's growing hunger for gas and Russia's desire to diversify export routes mean a pipeline under the Baltic Sea will be completed, even if worried neighbouring states manage to delay the scheme.

Sumitomo Mitsui Financial Group Inc, one of Japan's top three banks, said Monday its net profit fell 30 percent in the six months to September amid exposure to the US subprime loan crisis. It also booked losses due to its shaky credit card affiliate OMC C

Sumitomo Mitsui Financial Group Inc, one of Japan's top three banks, said Monday its net profit fell 30 percent in the six months to September amid exposure to the US subprime loan crisis. It also booked losses due to its shaky credit card affiliate OMC C

Russian investor Alexey Mordashov has raised his stake in TUI, Europe's biggest travel and tourism group, to 3.02 percent, a statement said Monday, providing good news for its beleagured chief executive Michael Frenzel.

An interest rate cut and an improved economic outlook has resulted in a sharp surge in foreign investment heading mainly into the local stock market, central bank governor Amando Tetangco said Monday.

Australian shares closed up 1.1 percent on Monday led by gains in the big banks and resources stocks following a modest lead from Wall Street at the end of last week, dealers said. The benchmark S&P/ASX 200 index closed up 73.3 points at 6,535.2, while th

Malaysian share prices closed 0.5 percent lower on Monday amid moves by China to cool its economy by cracking down on illegal fund outflows, dealers said. They said the falls were also in line with a negative regional tone over worries about the US subpri

Japanese government bond futures edged lower on Monday, tracking a fall in Treasuries, but losses were limited and the lead contract held near a 22-month high as credit jitters kept investors wary of taking risks. December 10-year futures inched down 0.01

Japanese government bond futures edged lower on Monday, tracking a fall in Treasuries, but losses were limited and the lead contract held near a 22-month high as credit jitters kept investors wary of taking risks. December 10-year futures inched down 0.01

Hong Kong stocks fell for a third straight session on Monday, with China plays down 1.2 percent as worries persisted that mainland fund flows would stall, but Bank of East Asia (BEA) jumped in heavy volume in an arranged cross trade.

Indian share prices fell 0.33 percent on Monday as investors sold blue chip companies for a third straight day citing weak US economic data, dealers said. They said buying was restricted to mid- and small-cap stocks. The benchmark 30-share Sensex index fe

Seoul shares dropped 1.7 percent on Monday to a two-month closing low, as flat-screen makers including LG.Philips LCD Co Ltd were hit by expectations for lower panel prices. Lenders such as Kookmin Bank and exporters were also dampened by lingering worrie

Taiwan stocks fell 1 percent on Monday as fears over a credit crunch lingered, while investors searched for technology bargains such as LCD maker Chunghwa Picture Tubes Ltd that have better earnings prospects. Taiwan's main TAIEX share index gave up early

Most Chinese shares rose on Monday but the main index was pulled lower by heavily weighted stocks such as Petrochina, which just joined the index this week, as investors worried they may be overvalued. The Shanghai Composite Index fell 0.87 percent to clo

Jakarta share prices closed 0.8 percent lower on Monday, with the selloff partly driven by fears that the anti-monopoly watchdog may rule against Temasek Holdings, dealers said. The anti-monopoly regulator, known as KPPU, was holding a session to read its