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May 17, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2004-06-23
Barclays bid rates and maximum rates for payment of interest

Barclays bid rates and maximum rates for payment of interest

Barclays bid rates, maximum rates for payment of interest by authorised dealers on deposits (other than those brought under FE Circular No: 45 of 1985) and on deposits (brought under FE Circular No: 45 of 1985) -- issued by the Foreign Exchange Rates Comm
Published 23 Jun, 2004 12:00am
State Bank of Pakistan conversion rates

State Bank of Pakistan conversion rates

Rates applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special US Dollar bonds and profits thereon by all banks and also for providing forward cover on foreign currency d
Published 23 Jun, 2004 12:00am
More relief measures announced in budget: CVT rate cut to 0.01 percent

More relief measures announced in budget: CVT rate cut to 0.01 percent

The government has decided to cut CVT from 0.1 percent to 0.01 percent, in addition to two presumptive withholding taxes of 0.005 percent on each buyer and seller, adjustable withholding tax of 0.005 percent and 10 percent withholding tax on COT.
Published 23 Jun, 2004 12:00am
Russia sells wheat via intervention

Russia sells wheat via intervention

The Russian government has sold 2,100 tonnes of fourth class wheat on Tuesday at an intervention tender aimed at curbing prices, data supplied by exchanges in charge of the tenders showed.
Published 23 Jun, 2004 12:00am
More relief measures announced in budget: CVT rate cut to 0.01 percent

More relief measures announced in budget: CVT rate cut to 0.01 percent

The government has decided to cut CVT from 0.1 percent to 0.01 percent, in addition to two presumptive withholding taxes of 0.005 percent on each buyer and seller, adjustable withholding tax of 0.005 percent and 10 percent withholding tax on COT.
Published 23 Jun, 2004 12:00am
Grain exports from Rouen port

Grain exports from Rouen port

Grain exports from the French port of Rouen totalled 249,759 tonnes for June 1-16, comprising 219,975 tonnes of wheat and 29,784 tonnes of barley, port officials said on Tuesday.
Published 23 Jun, 2004 12:00am
More relief measures announced in budget: CVT rate cut to 0.01 percent

More relief measures announced in budget: CVT rate cut to 0.01 percent

The government has decided to cut CVT from 0.1 percent to 0.01 percent, in addition to two presumptive withholding taxes of 0.005 percent on each buyer and seller, adjustable withholding tax of 0.005 percent and 10 percent withholding tax on COT.
Published 23 Jun, 2004 12:00am
Singapore bunker fuel prices stable

Singapore bunker fuel prices stable

Singapore bunker or ship fuel prices were stable on Tuesday as a pick up in demand after recent price falls countered downward pressure from lower benchmark crude and ample supplies.
Published 23 Jun, 2004 12:00am
More relief measures announced in budget: CVT rate cut to 0.01 percent

More relief measures announced in budget: CVT rate cut to 0.01 percent

The government has decided to cut CVT from 0.1 percent to 0.01 percent, in addition to two presumptive withholding taxes of 0.005 percent on each buyer and seller, adjustable withholding tax of 0.005 percent and 10 percent withholding tax on COT.
Published 23 Jun, 2004 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 44,448 tonnes of cargo including 40,511 tonnes import and 3,937 tonnes export cargo during last 24 hours ending at 0700 hours on Tuesday.
Published 23 Jun, 2004 12:00am
58 paisa power tariff cut a cruel joke

58 paisa power tariff cut a cruel joke

The much-trumpeted relief of 58 paisa per unit in power tariff for industrial sector has turned out to be a cruel joke. Going by the revised tariff issued by Wapda, only 1000 industrial units in the country will get relief of 58 paisa per unit, while abou
Published 23 Jun, 2004 12:00am
Indian gem and jewellery exports seen rising

Indian gem and jewellery exports seen rising

India's gems and jewellery sector has targeted an 11 percent rise in exports in the year to March 2005 from a year ago by promoting domestic designs and products, a leading trade body said on Tuesday.
Published 23 Jun, 2004 12:00am
58 paisa power tariff cut a cruel joke

58 paisa power tariff cut a cruel joke

The much-trumpeted relief of 58 paisa per unit in power tariff for industrial sector has turned out to be a cruel joke. Going by the revised tariff issued by Wapda, only 1000 industrial units in the country will get relief of 58 paisa per unit, while abou
Published 23 Jun, 2004 12:00am
Hotels allowed to deal in foreign currencies with customers

Hotels allowed to deal in foreign currencies with customers

The State Bank on Tuesday allowed 3-, 4- and 5-star hotels to deal in foreign currencies with their customers but restricted them to purchasing or encashment of foreign currency notes, coins and traveller cheques (TCs) for hotel customers only.
Published 23 Jun, 2004 12:00am
Ivory Coast cocoa prices mixed

Ivory Coast cocoa prices mixed

Average cocoa prices paid to farmers in Ivory Coast were mixed in the week of June 14 to 20, data from the Coffee and Cocoa Bourse (BCC) marketing body showed on Tuesday.
Published 23 Jun, 2004 12:00am
Hotels allowed to deal in foreign currencies with customers

Hotels allowed to deal in foreign currencies with customers

The State Bank on Tuesday allowed 3-, 4- and 5-star hotels to deal in foreign currencies with their customers but restricted them to purchasing or encashment of foreign currency notes, coins and traveller cheques (TCs) for hotel customers only.
Published 23 Jun, 2004 12:00am
Bangladesh tea prices rise

Bangladesh tea prices rise

The average price of Bangladesh teas rose on increased overseas demand at the weekly auction on Tuesday, brokers said.
Published 23 Jun, 2004 12:00am
Pakistani rice prices rise on low stocks

Pakistani rice prices rise on low stocks

Pakistani rice prices gained again over the past week on low stocks, which halted exports and dealers said on Tuesday that the activity would remain dull until supplies from the new crop starts.
Published 23 Jun, 2004 12:00am
China's gold purchase slows down, premiums steady in Hong Kong

China's gold purchase slows down, premiums steady in Hong Kong

China's gold purchases have slowed in recent weeks but premiums for gold bars in the key trading centre of Hong Kong were mostly steady due to tight supply and better demand from elsewhere, traders said on Tuesday.
Published 23 Jun, 2004 12:00am
ISO sees world sugar deficit up to five million tonnes

ISO sees world sugar deficit up to five million tonnes

World sugar markets may see a supply deficit of up to five million tonnes in 2004/05, a gap that could be halved by just a modest output rise from Brazil, the International Sugar Organisation (ISO) said on Tuesday.
Published 23 Jun, 2004 12:00am
FOB Gulf corn and soyabean mostly steady

FOB Gulf corn and soyabean mostly steady

US FOB Gulf corn and soyabean basis offers were mostly steady on Monday, with sluggish export demand in corn pressuring values in the CIF barge market.
Published 23 Jun, 2004 12:00am
Oil cake market rates

Oil cake market rates

The July vaida opened at Rs 487.70 and rose by Re 1 to claim to be the highest at Rs 488.70. Later trading depressed and it turned lowest at Rs 487.70 and closing was marked higher at Rs 488.30.
Published 23 Jun, 2004 12:00am
DMR reported some deals struck on Monday night

DMR reported some deals struck on Monday night

Cotton market sustained modest trading on Tuesday and operators were calculating appropriate time when usual business would be seen, relevant sources said.
Published 23 Jun, 2004 12:00am
Kenyan coffee prices fall, quality drops

Kenyan coffee prices fall, quality drops

Prices of Kenyan coffee eased at Tuesday's auction, amid dwindling supply of top quality beans as the main crop season draws to an end, traders said.
Published 23 Jun, 2004 12:00am
Cotton cakes down on grain market

Cotton cakes down on grain market

Steady conditions obtained on the seed and grain wholesale markets, amid low business on Tuesday (June 22, 2004).
Published 23 Jun, 2004 12:00am
Modest trading on Jodia Bazar

Modest trading on Jodia Bazar

A couple of sectors underwent changes on the Jodia Bazar, amid modest trading on Tuesday (June 22, 2004).
Published 23 Jun, 2004 12:00am
New York coffee lower amid mild Brazil weather

New York coffee lower amid mild Brazil weather

NYBOT arabica coffee futures finished at a one-month low on Monday on speculative sales and switch business as the absence of crop-damaging frost in top grower Brazil acted like a millstone round the markets neck, analysts said.
Published 23 Jun, 2004 12:00am
Egypt seeks wheat for July shipment

Egypt seeks wheat for July shipment

Egypt's main official wheat buyer said on Monday he was seeking offers to buy US, French, Australian and/or Syrian wheat for the shipment period July 21-31, 2004.
Published 23 Jun, 2004 12:00am
New York cocoa settles higher, ignores Ivory clashes

New York cocoa settles higher, ignores Ivory clashes

NYBOT cocoa futures settled slightly higher in static business on Monday after news of more rebel clashes in Ivory Coast failed to buoy the market, traders said. "The market was very subdued today.
Published 23 Jun, 2004 12:00am
Thai corn prices steady, but buying on hold

Thai corn prices steady, but buying on hold

Tight supply and thin demand from the domestic poultry industry are likely to leave Thai corn prices steady in coming days, traders said on Tuesday.
Published 23 Jun, 2004 12:00am
Asian crude: Murban recovers on bargain hunting

Asian crude: Murban recovers on bargain hunting

Spot premiums for August-loading light-sour Murban crude recovered from last week's sharp decline as bargain hunters emerged for cheap barrels, traders said on Tuesday.
Published 23 Jun, 2004 12:00am
Asian oil swaps

Asian oil swaps

Singapore oil product swaps prices edged up in late trade on Tuesday, paring losses as benchmark crude staged a slight recovery from a sharp loss a day earlier, traders said.
Published 23 Jun, 2004 12:00am
China and Brazil resolve soya spat

China and Brazil resolve soya spat

China and Brazil have resolved a simmering spat over tainted soy, allowing Beijing to resume more than $1 billion in annual oilseed trade with a South American nation keen to sell everything from iron ore to oil.
Published 23 Jun, 2004 12:00am
Comex copper ends with small gains

Comex copper ends with small gains

Comex copper prices ended slightly higher on Monday after seesawing in a narrow range, forming a sideways pattern on copper charts in an otherwise featureless day, traders said.
Published 23 Jun, 2004 12:00am
Tokyo platinum hemmed in range; eyes on yen and oil

Tokyo platinum hemmed in range; eyes on yen and oil

Tokyo platinum futures steadied by late Tuesday after coming under pressure from falls in yen-denominated oil prices, but the market was mostly range-bound amid a lack of clear factors on which to trade.
Published 23 Jun, 2004 12:00am
Comex gold backtracks as silver and oil fall

Comex gold backtracks as silver and oil fall

Comex gold ended lower on Monday, as a strong dollar and weak silver and crude oil prices took the steam out of a safe-haven rally on worries about political tensions in the Middle East.
Published 23 Jun, 2004 12:00am
Gold inches up, gains limited before Fed meeting

Gold inches up, gains limited before Fed meeting

Gold yo-yoed in Asia on Tuesday, briefly touching a crucial resistance level of $395 an ounce, but it was unable to make further headway despite dollar weakness, dealers said.
Published 23 Jun, 2004 12:00am
Shanghai copper falls

Shanghai copper falls

Most Shanghai copper futures closed lower on Tuesday amid dwindling trade volumes as the market awaited trading leads, traders said.
Published 23 Jun, 2004 12:00am
Ukraine's grain crop forecast raised

Ukraine's grain crop forecast raised

Ukraine's ProAgro agriculture consultancy said on Tuesday it had increased its 2004 grain crop forecast to about 34.419 million tonnes compared with a previous forecast of 33.940 million.
Published 23 Jun, 2004 12:00am
Tokyo rubber ends mixed

Tokyo rubber ends mixed

Tokyo rubber futures settled mixed on Tuesday as caution over falling Japanese rubber stocks supported nearby months while technical selling dented forward-month contracts, brokers said.
Published 23 Jun, 2004 12:00am
Thai rubber futures end mixed

Thai rubber futures end mixed

Thai rubber futures ended mixed in sluggish trade on Tuesday as players speculated on deferred contracts, dealers said.
Published 23 Jun, 2004 12:00am
New York sugar recoils from losses to settle firm

New York sugar recoils from losses to settle firm

NYBOT raw sugar futures closed higher on Monday as speculative and trade buying believed tied to some cash interest erased the losses in the market, with operators saying sugar could grind higher in the coming days.
Published 23 Jun, 2004 12:00am
Soya ends up, old-crop leads on export hopes

Soya ends up, old-crop leads on export hopes

Chicago Board of Trade soyabean futures ended higher on Monday, led by nearby old-crop contracts on worries about tight US soya stocks and hopes that China would resume US soya purchases, traders said.
Published 23 Jun, 2004 12:00am
CBOT rice futures fall

CBOT rice futures fall

Chicago Board of Trade rough rice futures settled lower on Monday, with speculative liquidation outweighing scale-down commercial buying of nearby July, pit brokers said.
Published 23 Jun, 2004 12:00am
Indonesian rubber market mood up on firmer demand

Indonesian rubber market mood up on firmer demand

Gains in international rubber futures have encouraged buying in Indonesian SIR20 rubber after lean demand last week, and traders said prices were likely to rise on expectations of limited supply in top producer Thailand.
Published 23 Jun, 2004 12:00am
Iran makes new natural gas field discoveries

Iran makes new natural gas field discoveries

Iran's official IRNA news agency quoted an informed Oil Ministry source on Tuesday saying Iran had found a gas field of about 200 billion cubic metres (seven trillion cubic feet) under Lavan island in the Gulf.
Published 23 Jun, 2004 12:00am
Strike slashes Norwegian oil production by 370,000 bpd

Strike slashes Norwegian oil production by 370,000 bpd

An open-ended strike in the Norwegian oil sector led Tuesday to the closing of yet another platform as the country's oil production plummeted by 370,000 barrels per day (bpd), with union members warning of worse to come.
Published 23 Jun, 2004 12:00am
US urges China to wage wider war on fake goods

US urges China to wage wider war on fake goods

The United States urged China on Tuesday to wage a wider war against rampant patent and copyright piracy as it sought ways to reduce a growing trade imbalance that has become an election issue in the United States.
Published 23 Jun, 2004 12:00am
German investors, Italian consumers bit more cheerful

German investors, Italian consumers bit more cheerful

Confidence among both German investors and Italian consumers edged up in June, while a dip in French spending during May was offset by figures showing the biggest annual rise in spending for over four years.
Published 23 Jun, 2004 12:00am
High oil prices a manageable risk for Asia: ADB

High oil prices a manageable risk for Asia: ADB

Sharp increases in oil prices in recent months pose a risk, although a manageable one, for Asian economies as long as governments use the right policies, the Asian Development Bank said Tuesday.
Published 23 Jun, 2004 12:00am
China criticises US for anti-dumping duties

China criticises US for anti-dumping duties

China Tuesday criticised a series of anti-dumping measures taken by the United States and urged visiting US officials to resolve trade disputes through bilateral negotiations.
Published 23 Jun, 2004 12:00am
Most oil experts expect price boom to fade

Most oil experts expect price boom to fade

Most oil price pundits expect prices to moderate from current 21-year peaks next year and to fall further by 2010, assuaging fears that crude is in a new high-price era, a Reuters poll found on Tuesday.
Published 23 Jun, 2004 12:00am
Chinese industrial profits up

Chinese industrial profits up

Total profits earned by industrial firms in China hit 425.8 billion yuan ($51.5 billion) in the first five months of 2004, a 43.7 percent jump from a year earlier, the State Statistical Bureau said on Tuesday.
Published 23 Jun, 2004 12:00am
Morgan Stanley quarterly profits double

Morgan Stanley quarterly profits double

Investment bank Morgan Stanley on Tuesday said its quarterly earnings more than doubled, driven by its investment banking businesses and strong trading revenue from fixed income and equities.
Published 23 Jun, 2004 12:00am
Morgan Stanley quarterly profits double

Morgan Stanley quarterly profits double

Investment bank Morgan Stanley on Tuesday said its quarterly earnings more than doubled, driven by its investment banking businesses and strong trading revenue from fixed income and equities.
Published 23 Jun, 2004 12:00am
US housing market at risk: UCLA

US housing market at risk: UCLA

The US economy will grow 4.3 percent this year as business spending improves and payrolls expand, but a recession could be around the corner if rising interest rates hammer the housing market, according to a widely watched forecast.
Published 23 Jun, 2004 12:00am
Boeing and Indian space agency to make satellites

Boeing and Indian space agency to make satellites

The US government has authorised Boeing Co to enter into talks with India's premier space agency to jointly develop and market communication satellites, a US official said Tuesday.
Published 23 Jun, 2004 12:00am
Former Vivendi chief Messier faces second day of detention

Former Vivendi chief Messier faces second day of detention

Jean-Marie Messier, the high-flying former head of Vivendi Universal, faced a second day in police custody Tuesday while awaiting a judicial move that could place him under investigation in connection with possible financial wrongdoing at the French media
Published 23 Jun, 2004 12:00am
Chinese and Syrian presidents agree to strengthen ties

Chinese and Syrian presidents agree to strengthen ties

Chinese President Hu Jintao told his Syrian counterpart Bashar al-Assad on Tuesday that the two countries should expand economic and trade ties and strengthen relations across the board.
Published 23 Jun, 2004 12:00am
IMF chief urges nations to cut deficits

IMF chief urges nations to cut deficits

The IMF's new chief Rodrigo Rato on Tuesday urged governments to take advantage of economic good times to cut deficits and counter the impact of high oil prices on inflation with appropriate monetary policy.
Published 23 Jun, 2004 12:00am
Turkey targets $13 billion tourism revenues in 2004

Turkey targets $13 billion tourism revenues in 2004

Turkey targets tourism revenues, a key element in its current account balance, of $13 billion this year and $18 billion next year, Prime Minister Tayyip Erdogan said on Tuesday.
Published 23 Jun, 2004 12:00am
Matsushita shake-up to cut 3,000 jobs

Matsushita shake-up to cut 3,000 jobs

Matsushita Electric Industrial Co Ltd said on Monday it will implement an early retirement scheme from July in a move that local media said would cut 3,000 jobs, or about 2.5 percent of its work force in Japan.
Published 23 Jun, 2004 12:00am
Simon Property to buy Chelsea for $3.5 billion

Simon Property to buy Chelsea for $3.5 billion

Mall owner Simon Property Group Inc has agreed to buy Chelsea Property Group Inc for $3.5 billion, boosting its outlet shopping centres business and giving it a presence in Asia, the companies said on Monday.
Published 23 Jun, 2004 12:00am
Simon Property to buy Chelsea for $3.5 billion

Simon Property to buy Chelsea for $3.5 billion

Mall owner Simon Property Group Inc has agreed to buy Chelsea Property Group Inc for $3.5 billion, boosting its outlet shopping centres business and giving it a presence in Asia, the companies said on Monday.
Published 23 Jun, 2004 12:00am
Swiss trade surplus rises to 1.34 billion francs in May

Swiss trade surplus rises to 1.34 billion francs in May

Exports from Switzerland fell a real 5.2 percent year-on-year in May to 11.13 billion Swiss francs ($8.9 billion), data showed on Tuesday, but they rose nominally, confirming that an economic recovery is on track.
Published 23 Jun, 2004 12:00am
Mexico has oil reserves for up to 35 years: minister

Mexico has oil reserves for up to 35 years: minister

Mexico has enough oil to last at least 11 years and possibly 35 years, Energy Minister Fernando Elizondo said on Monday, slamming a report that the government had burned through much of the country's reserves.
Published 23 Jun, 2004 12:00am
Steady growth seen in California as job growth resumes

Steady growth seen in California as job growth resumes

California's economy will grow modestly this year and speed up a bit in 2005 and 2006, trimming the state's jobless rate as payrolls steadily expand, according to a closely watched economic forecast released on Tuesday.
Published 23 Jun, 2004 12:00am
EU to take another bite at budget pact reform

EU to take another bite at budget pact reform

The European Commission will have another go this week at making it harder to flout the Stability and Growth Pact after the EU constitution fell short of its hopes on this count.
Published 23 Jun, 2004 12:00am
Thai stocks tumble on rate jitters

Thai stocks tumble on rate jitters

Thai stocks ended lower on Tuesday with investors taking profits after recent gains and amid jitters over the direction of US interest rates.
Published 23 Jun, 2004 12:00am
Manila stocks rise, eyes on new government

Manila stocks rise, eyes on new government

Philippine stocks ended mildly higher on Tuesday with the market waiting for the government of re-elected President Gloria Macapagal Arroyo to reveal its priority reform agenda after the June 30 inauguration.
Published 23 Jun, 2004 12:00am
US stocks drop, dragged by Fed, Iraq worries

US stocks drop, dragged by Fed, Iraq worries

US stocks fell in light trade on Monday, as investors' caution ahead of next week's Federal Reserve meeting and the US transfer of power in Iraq overshadowed Wachovia Corp's $14 billion deal to acquire SouthTrust Corp.
Published 23 Jun, 2004 12:00am
Seoul shares end down

Seoul shares end down

Seoul shares ended slightly lower on Tuesday, with top lender Kookmin Bank knocked by a broker downgrade and as investors turned increasingly cautious ahead of an expected rise in US interest rates.
Published 23 Jun, 2004 12:00am
US Treasury prices edge higher in sleepy trade

US Treasury prices edge higher in sleepy trade

US Treasury debt prices crept higher on Monday but hovered in a narrow range, a trend traders predicted could last until the Federal Reserve meets to determine monetary policy at the end of the month.
Published 23 Jun, 2004 12:00am
US Treasury prices edge higher in sleepy trade

US Treasury prices edge higher in sleepy trade

US Treasury debt prices crept higher on Monday but hovered in a narrow range, a trend traders predicted could last until the Federal Reserve meets to determine monetary policy at the end of the month.
Published 23 Jun, 2004 12:00am
Sri Lankan stocks jump

Sri Lankan stocks jump

Sri Lankan stocks inched up on Tuesday, lifted by retail shares, but institutional investors stayed away from the market in the absence of fresh economic factors to determine direction, brokers said.
Published 23 Jun, 2004 12:00am
Chinese shares boosted by techs and drugs

Chinese shares boosted by techs and drugs

China's shares closed up on Tuesday on speculative buying of small technology and drug counters ahead of Friday's debut in Shenzhen of a board dedicated to start-ups.
Published 23 Jun, 2004 12:00am
Singapore shares end flat, SPH gains

Singapore shares end flat, SPH gains

Singapore shares closed little changed on Tuesday, but Singapore Press Holdings bounced after recent steep declines.
Published 23 Jun, 2004 12:00am
Tokyo stocks decline as investors lock in profits

Tokyo stocks decline as investors lock in profits

Japanese stocks closed softer in subdued trade on Tuesday as sharp gains the previous day prompted investors to take profits from technology and other exporters ahead of a rate decision by the US Federal Reserve next week.
Published 23 Jun, 2004 12:00am
Jakarta shares up

Jakarta shares up

Indonesian share prices closed 0.21 percent higher on Tuesday as last-minute support for market leader Telkom took the market out of negative territory, dealers said.
Published 23 Jun, 2004 12:00am
Malaysian shares fall on US rate jitters

Malaysian shares fall on US rate jitters

Malaysian shares ended nearly one percent down on Tuesday, mirroring regional weakness, due to investor caution ahead of a decision on US interest rates at a Federal Reserve meeting next week.
Published 23 Jun, 2004 12:00am
Bangladeshi taka steady

Bangladeshi taka steady

The Bangladesh taka ended steady on Tuesday on moderate demand for the US currency and good supply from export earnings, dealers said.
Published 23 Jun, 2004 12:00am
Chinese yuan slips versus US dollar

Chinese yuan slips versus US dollar

The yuan slipped four notches versus the US dollar to 8.2769 on Tuesday, but remained near the stronger end of its managed trading range.
Published 23 Jun, 2004 12:00am
Indian rupee hits 11-month low as investment thins

Indian rupee hits 11-month low as investment thins

The Indian rupee slumped nearly 0.8 percent to an 11-month closing low on Tuesday as local and offshore traders grew more bearish on the currency because of thinning foreign investment inflows.
Published 23 Jun, 2004 12:00am
Yen stalls near two-month high verses dollar

Yen stalls near two-month high verses dollar

The yen held near a two-month high against the dollar on Tuesday on expectations that upcoming economic data in Japan could trigger a new wave of buying in Japanese shares.
Published 23 Jun, 2004 12:00am
Dollar rallies from eight-week low verses yen in quiet trading

Dollar rallies from eight-week low verses yen in quiet trading

The dollar fell to an eight-week low against the yen on Monday but rallied late in the New York session as traders, worried about continued Middle East instability and its potential impact on oil prices, remained cautious on the Japanese unit.
Published 23 Jun, 2004 12:00am
Asian currencies stay soft on yen recovery

Asian currencies stay soft on yen recovery

The Singapore dollar was the only Asian regional currency to gain against the US dollar on Tuesday, recovering from a one-month low hit in early trade as investors sensed it may have weakened too much recently.
Published 23 Jun, 2004 12:00am
Australian dollar slithers lower

Australian dollar slithers lower

The Australian dollar slithered towards 68.50 US cents on Tuesday after twice failing to pierce 69.20 US cents, unsettling a rare period of calm in the currency after several weeks of above normal volatility.
Published 23 Jun, 2004 12:00am
Cigarettes rob smokers of 10 years of life

Cigarettes rob smokers of 10 years of life

Cigarette smokers die on average 10 years earlier than non-smokers but kicking the habit, even at 50 years old, can halve the risk, according to half a century of research reported on Tuesday.
Published 23 Jun, 2004 12:00am
Irish former WTO chief floated for EU Commission head

Irish former WTO chief floated for EU Commission head

Irishman Peter Sutherland, a former World Trade Organisation chief, said on Tuesday he had been suggested for the job of European Commission president after EU leaders failed to agree on a candidate last week.
Published 23 Jun, 2004 12:00am
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