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Print - 2004-09-17
Indian shares resume rally

Indian shares resume rally

Indian shares resumed their rally on Thursday after a brief one-session pause, with investors eyeing robust July-September earnings.
Published 17 Sep, 2004 12:00am
Thai stocks finish flat, PTT in favour

Thai stocks finish flat, PTT in favour

Thailand's main stock index ended almost flat on Thursday after a three-day rally, but foreign buying pushed up top energy firm PTT PCL due to its plan to sell shares in a subsidiary, analysts said.
Published 17 Sep, 2004 12:00am
Profit taking hits Jakarta shares

Profit taking hits Jakarta shares

Jakarta stocks edged lower on Thursday as profit taking in some key shares kicked in after recent strong gains, but the positive trend ahead of the September 20 presidential election remains intact, analysts said.
Published 17 Sep, 2004 12:00am
Singapore stocks fall, but off early lows

Singapore stocks fall, but off early lows

Singapore shares ended slightly lower on Thursday, led by slide in index heavyweights after recent heady gains, but consumer and property stocks pulled the market off early lows.
Published 17 Sep, 2004 12:00am
US Treasury prices slip

US Treasury prices slip

US Treasury prices slipped on Wednesday as a rebound in regional manufacturing stoked speculation the sector as a whole could be doing better.
Published 17 Sep, 2004 12:00am
US Treasury prices slip

US Treasury prices slip

US Treasury prices slipped on Wednesday as a rebound in regional manufacturing stoked speculation the sector as a whole could be doing better.
Published 17 Sep, 2004 12:00am
Tokyo stocks decline, fund buying supports

Tokyo stocks decline, fund buying supports

Tokyo's Nikkei average gave up 0.17 percent by the close on Thursday as techs such as Hitachi Ltd followed their US rivals lower after investment bank Goldman Sachs noted a slowdown in technology spending.
Published 17 Sep, 2004 12:00am
Taiwan stocks jump

Taiwan stocks jump

Taiwan stocks closed slightly higher on Thursday after 2 days of losses, as investors ventured back for bargains in microchip shares like Powerchip that largely ignored weakness in US counterparts.
Published 17 Sep, 2004 12:00am
Manila stocks drop, telcos lead

Manila stocks drop, telcos lead

Philippine stocks fell for the third straight day on Thursday, with more profit-taking in dominant phone firm PLDT and its chief rival Globe Telecom Inc after a recent 9-day rally.
Published 17 Sep, 2004 12:00am
Steelmaker Corus reports first profit

Steelmaker Corus reports first profit

Anglo-Dutch steelmaker Corus reported Thursday the first profit since its birth in 1999 thanks to cost cuts, rising metals prices and strong demand, notably from China.
Published 17 Sep, 2004 12:00am
Steelmaker Corus reports first profit

Steelmaker Corus reports first profit

Anglo-Dutch steelmaker Corus reported Thursday the first profit since its birth in 1999 thanks to cost cuts, rising metals prices and strong demand, notably from China.
Published 17 Sep, 2004 12:00am
Slower growth stunts India's fiscal deficit efforts

Slower growth stunts India's fiscal deficit efforts

India's efforts to rein in its high fiscal deficit are unlikely to succeed, with the budget gap seen remaining at 4.8 percent of gross domestic product this year as revenues slip on slower growth, according to a Reuters poll.
Published 17 Sep, 2004 12:00am
Allianz to publish board salaries

Allianz to publish board salaries

German insurance giant Allianz said Thursday that it had decided to break with tradition and make public the individual salaries of its board members.
Published 17 Sep, 2004 12:00am
Allianz to publish board salaries

Allianz to publish board salaries

German insurance giant Allianz said Thursday that it had decided to break with tradition and make public the individual salaries of its board members.
Published 17 Sep, 2004 12:00am
Malawi's economic programme on right track: IMF

Malawi's economic programme on right track: IMF

The International Monetary Fund said on Wednesday Malawi's economic programme under new President Bingu Wa Mutharika "seems to turn around a very difficult situation" after a record of poor performance.
Published 17 Sep, 2004 12:00am
Indonesia urges Caltex oil recovery project at Minas

Indonesia urges Caltex oil recovery project at Minas

Indonesia, with its oil production in decline, has urged Caltex Pacific Indonesia to develop a tertiary oil recovery project for the Minas field to boost production, energy watchdog BP Migas said on Thursday.
Published 17 Sep, 2004 12:00am
South Korean premier says economic policy guided by market

South Korean premier says economic policy guided by market

South Korean Prime Minister Lee Hae-chan said on Thursday both he and the president were guided by the market in economic policy, dismissing talk in some media and business circles that the administration was left-leaning in this area.
Published 17 Sep, 2004 12:00am
Trade between two Koreas rise

Trade between two Koreas rise

Trade between the two Koreas rose 6.4 percent in the first eight months of 2004, Seoul's Unification Ministry on Thursday, led by non-commercial business in the form of aid and subsidies from the capitalist South.
Published 17 Sep, 2004 12:00am
IBM to make digital image sensors for Kodak

IBM to make digital image sensors for Kodak

Camera maker Eastman Kodak Co, and IBM, the world's biggest computer company, said on Thursday that the two US companies had agreed to a deal in which IBM will manufacture digital image sensors for Kodak.
Published 17 Sep, 2004 12:00am
Russia mulls Paris Club debt swap into bonds

Russia mulls Paris Club debt swap into bonds

Russia is considering an offer to the Paris Club of creditor nations involving a swap of outstanding debt into bonds, a top Russian banker said on Thursday.
Published 17 Sep, 2004 12:00am
Russia mulls Paris Club debt swap into bonds

Russia mulls Paris Club debt swap into bonds

Russia is considering an offer to the Paris Club of creditor nations involving a swap of outstanding debt into bonds, a top Russian banker said on Thursday.
Published 17 Sep, 2004 12:00am
Alitalia reaches ground staff wage deal

Alitalia reaches ground staff wage deal

The Italian state airline Alitalia, which is fighting for survival, said Thursday it had reached a wage-freeze agreement with unions representing ground personnel.
Published 17 Sep, 2004 12:00am
EU and US talks on aircraft aid grounded

EU and US talks on aircraft aid grounded

US and EU negotiators traded arguments on Thursday over state aid for aircraft rivals Airbus and Boeing, remaining far apart on a sensitive issue that has gathered steam in the run-up to US presidential elections.
Published 17 Sep, 2004 12:00am
Hong Kong jobless rate falls to 2-1/2 year low

Hong Kong jobless rate falls to 2-1/2 year low

Hong Kong's unemployment rate slipped to a 30-month low in the June-to-August period as the territory's economic recovery created more jobs, the government said on Thursday.
Published 17 Sep, 2004 12:00am
South African public workers stage huge strike

South African public workers stage huge strike

Hundreds of thousands of teachers, nurses, police and other public sector employees walked off the job across South Africa on Thursday to demand better wages in one of the biggest strikes since the end of apartheid a decade ago.
Published 17 Sep, 2004 12:00am
WTO report argues for more extensive economic migration

WTO report argues for more extensive economic migration

A World Trade Organisation report on Thursday backed moves to get mainly wealthy countries to open up to more extensive temporary migration for workers, saying it could boost the welfare of both the country of origin and the host.
Published 17 Sep, 2004 12:00am
UK retail sales jump unexpectedly

UK retail sales jump unexpectedly

British retail sales unexpectedly jumped in August, stunning financial markets prepared for a drop, and suggesting that the Bank of England is likely to raise interest rates again later this year.
Published 17 Sep, 2004 12:00am
SEC probes WorldCom creditor actions: court papers

SEC probes WorldCom creditor actions: court papers

Federal regulators have launched an investigation into creditor actions in the WorldCom bankruptcy, demanding thousands of documents from bondholders related to the largest US bankruptcy, according to court documents.
Published 17 Sep, 2004 12:00am
US net capital inflows slip

US net capital inflows slip

Foreign investment in US assets declined in July, but was still sizable enough to offset the US current account deficit.
Published 17 Sep, 2004 12:00am
US net capital inflows slip

US net capital inflows slip

Foreign investment in US assets declined in July, but was still sizable enough to offset the US current account deficit.
Published 17 Sep, 2004 12:00am
US inflation mild, jobless claims rise

US inflation mild, jobless claims rise

US consumer prices inched up just 0.1 percent last month as gasoline and car prices tumbled, the government said on Thursday in a report suggesting an inflation spike earlier this year was an aberration.
Published 17 Sep, 2004 12:00am
Martyn, Symonds guide Australia to semis

Martyn, Symonds guide Australia to semis

Damien Martyn scored his 23rd one-day half century while Andrew Symonds smashed his way to his 11th as Australia beat New Zealand by seven wickets in their Champions Trophy Pool A game at The Oval on Thursday.
Published 17 Sep, 2004 12:00am
Afridi ready for India clash

Afridi ready for India clash

Pakistan all-rounder Shahid Afridi said the team were in confident mood ahead of their winner-take-all Champions Trophy clash against India at Edgbaston on Sunday.
Published 17 Sep, 2004 12:00am
UNEP warns against use of methyl bromide, harmful to ozoner

UNEP warns against use of methyl bromide, harmful to ozoner

The UN Environment Programme (UNEP) on Thursday warned governments against use of methyl bromide, which could have hinder the global bid to repair the atmospheric ozone layer that filters out harmful levels of the sun's ultra-violet rays.
Published 17 Sep, 2004 12:00am
Frustrated Taiwan may rethink strategy for UN

Frustrated Taiwan may rethink strategy for UN

Taiwan is considering applying to join the United Nations under the island's own name, a move that China would see as a provocative declaration of independence by a renegade province.
Published 17 Sep, 2004 12:00am
China, Hong Kong invite democrats for talks

China, Hong Kong invite democrats for talks

China and the leader of Hong Kong have invited some of the city's newly elected pro-democracy legislators for talks, apparently seeking reconciliation and co-operation, officials said on Thursday.
Published 17 Sep, 2004 12:00am
Havel best placed to win Nobel Peace Prize

Havel best placed to win Nobel Peace Prize

Former Czech president Vaclav Havel is best placed to win this year's Nobel Peace Prize while US President George W. Bush has no chance, an online betting site predicted on Thursday, three weeks ahead of the official announcement.
Published 17 Sep, 2004 12:00am
Bangladesh wedding bus crash kills 24

Bangladesh wedding bus crash kills 24

At least 24 wedding guests, including women and children, were killed and 51 injured when their bus collided with a goods truck in Bangladesh, police said on Thursday.
Published 17 Sep, 2004 12:00am
Serbia's education minister quits

Serbia's education minister quits

Serbian Education Minister Ljiljana Colic resigned on Thursday after provoking ridicule as the "medieval minister" for proposing that creationism be taught in schools and warning against computers.
Published 17 Sep, 2004 12:00am
Romania takes Black Sea oil dispute to world court

Romania takes Black Sea oil dispute to world court

Romania on Thursday took its territorial dispute with Ukraine over the sharing of Black Sea hydrocarbon resources to the International Court of Justice (ICJ) following fruitless negotiations between the two neighbours.
Published 17 Sep, 2004 12:00am
Bangladeshi taka softer ahead of weekend

Bangladeshi taka softer ahead of weekend

The Bangladesh taka ended slightly softer on Thursday against the US currency because of import payments ahead of the Friday weekend, dealers said.
Published 17 Sep, 2004 12:00am
Chinese yuan notches stronger

Chinese yuan notches stronger

The yuan finished two notches stronger at 8.2766 per US dollar on Thursday, near the stronger end of its managed trading range.
Published 17 Sep, 2004 12:00am
Swiss franc creeps higher ahead of SNB rate review

Swiss franc creeps higher ahead of SNB rate review

The Swiss franc gained slightly against the US dollar in early European trade on Thursday with attention turned on the Swiss National Bank's quarterly policy review later in the session when rates are expected to rise.
Published 17 Sep, 2004 12:00am
Dollar dangles near 1-week highs

Dollar dangles near 1-week highs

The dollar held near one-week highs against European currencies on Thursday after US manufacturing figures came in much stronger than expected.
Published 17 Sep, 2004 12:00am
Asian currencies intervention caps some, rest rise

Asian currencies intervention caps some, rest rise

Asian currencies were a mixed bag on Thursday as a suspicion central banks were intervening halted rallies in the Singapore dollar and the north Asians while the Thai baht and Indonesian rupiah rose on recovering stock markets.
Published 17 Sep, 2004 12:00am
Australian dollar stuck around 69.5 cents

Australian dollar stuck around 69.5 cents

The Australian dollar ended Thursday at the bottom of the local session's range as investors await inflation and other data in the United States for clues to how fast US interest rates will rise.
Published 17 Sep, 2004 12:00am
RBI sold $1.18 billion of forex in July

RBI sold $1.18 billion of forex in July

India's central bank sold a net $1.18 billion in the domestic currency market in July to support a shaky rupee, data from its latest monthly bulletin released on Thursday showed.
Published 17 Sep, 2004 12:00am
Indonesia magazine editor gets jail

Indonesia magazine editor gets jail

An Indonesian court sentenced a prominent magazine editor to one year in jail on Thursday for libel against a high-profile businessman in a case that has prompted fears the country's press freedom may be under threat.
Published 17 Sep, 2004 12:00am
Time, reporter subpoenaed again on CIA leak: WSJ

Time, reporter subpoenaed again on CIA leak: WSJ

A Time magazine reporter and his employer Time Inc received fresh subpoenas from the US Justice Department seeking more information about sources for an article on the disclosure of a CIA officer's identity, The Wall Street Journal said on Thursday.
Published 17 Sep, 2004 12:00am
Thousands attend funerals in Nablus

Thousands attend funerals in Nablus

Some 8,000 Palestinians packed the centre of the main northern West Bank city of Nablus on Thursday as they paid their last respects to five Palestinians and a schoolgirl slain in a raid by Israeli troops.
Published 17 Sep, 2004 12:00am
Two Americans, Briton kidnapped in Baghdad

Two Americans, Briton kidnapped in Baghdad

Gunmen kidnapped two Americans and a Briton from a house in an affluent central Baghdad neighbourhood on Thursday, the latest in a nearly six-month campaign of abductions of foreigners in Iraq.
Published 17 Sep, 2004 12:00am
US intelligence offers gloomy outlook for Iraq

US intelligence offers gloomy outlook for Iraq

A US intelligence report prepared for President George W. Bush in July offered a gloomy outlook for Iraq through the end of 2005, with the worst scenario being a deterioration into civil war, US government officials said on Thursday.
Published 17 Sep, 2004 12:00am
China Communists meet as succession rumours swirl

China Communists meet as succession rumours swirl

China's Communist Party opened a four-day, closed-door meeting on Thursday that will decide whether military chief Jiang Zemin completes a leadership succession by passing on his last post to party chief Hu Jintao.
Published 17 Sep, 2004 12:00am
Indonesian court jails militant for 12 years

Indonesian court jails militant for 12 years

An Indonesian militant who handled explosives used in last year's deadly bombing of a Jakarta hotel was Thursday jailed for 12 years - the highest sentence so far handed down for the attack.
Published 17 Sep, 2004 12:00am
Putin rules out Chechen talks

Putin rules out Chechen talks

Russian President Vladimir Putin on Thursday ruled out negotiations with Chechen rebels after the Beslan school bloodbath, further straining ties with Western leaders who are pressing for a political solution to Chechnya.
Published 17 Sep, 2004 12:00am
US renews Iran nuclear complaint after new photos

US renews Iran nuclear complaint after new photos

A senior US official said on Thursday that satellite photographs of a suspected nuclear industrial site in Iran demonstrated its intention to develop atomic weapons, an allegation Tehran dismissed as "a new lie".
Published 17 Sep, 2004 12:00am
Bangladesh river bursts bank, floods over 100 villages

Bangladesh river bursts bank, floods over 100 villages

A rain-swollen river in Bangladesh has burst its banks, sending torrents of water through more than 100 villages south-east of the capital and leaving thousands of people homeless, officials said on Thursday.
Published 17 Sep, 2004 12:00am
Karzai escapes assassination bid

Karzai escapes assassination bid

Afghan President Hamid Karzai escaped an assassination bid on Thursday when a rocket was fired at his US military helicopter as it was landing in the south-eastern town of Gardez.
Published 17 Sep, 2004 12:00am
Indian rupee snaps 6-day rise

Indian rupee snaps 6-day rise

The Indian rupee slipped from a two-month peak on Thursday, ending weaker for the first time in seven days on dollar demand from oil companies and foreign funds in a market cautious about the dollar's rise overseas.
Published 17 Sep, 2004 12:00am
Sterling jumps on strong data

Sterling jumps on strong data

Sterling jumped more than half a US cent and also rose against the euro on Thursday as stronger than expected UK retail sales raised expectations that there might be more room for British interest rates to rise.
Published 17 Sep, 2004 12:00am
Dollar idles versus euro in London

Dollar idles versus euro in London

The dollar kept close to the previous session's one-week highs against the euro on Thursday, holding steady as investors awaited US data to confirm fresh signs of strength in US manufacturing.
Published 17 Sep, 2004 12:00am
Poland set for record grain harvest

Poland set for record grain harvest

Poland's grain output this year is likely to set a new record high, topping earlier forecasts for 25-26 million tonnes, Farming Minister Wojciech Olejniczak told Reuters on Thursday.
Published 17 Sep, 2004 12:00am
IPE to cut Brent pit trade hours from November 1

IPE to cut Brent pit trade hours from November 1

The International Petroleum Exchange (IPE) will cut back on open outcry dealings in Brent oil futures, which from November 1 will trade only on an electronic platform until 2 p.m., the exchange said on Thursday.
Published 17 Sep, 2004 12:00am
Ivan benefits drought-stricken Cuban sugar crop

Ivan benefits drought-stricken Cuban sugar crop

Hurricane Ivan caused almost no damage to Cuba's sugar industry as it roared by the western tip of the island Monday, and the storm provided much-needed moisture to the drought-stricken crop, media reports and sources said.
Published 17 Sep, 2004 12:00am
Oil rises on worries about output shut by Ivan

Oil rises on worries about output shut by Ivan

World oil prices rose on Thursday on worries about oil production shut by Hurricane Ivan and a new storm that could delay imports from entering the Gulf of Mexico.
Published 17 Sep, 2004 12:00am
London sugar ends lower

London sugar ends lower

London white sugar futures settled lower on fund selling on Thursday, traders said, and LIFFE reported deliveries of 14,000 tonnes against the expiry of the October contract on Wednesday.
Published 17 Sep, 2004 12:00am
New York cotton ends at 1-month low

New York cotton ends at 1-month low

NYBOT cotton futures closed Thursday at a one-month low on speculative and options-related sales, with players ignoring news of heavy damage by Hurricane Ivan to cotton farms in Alabama, analysts said.
Published 17 Sep, 2004 12:00am
London cocoa down

London cocoa down

London cocoa futures settled about 2.6 percent lower on Thursday as expectations of new liquidation by funds deterred industry and speculator buyers, dealers said.
Published 17 Sep, 2004 12:00am
Gold eases in Europe on dollar reaction to US data

Gold eases in Europe on dollar reaction to US data

Gold lost ground in Europe on Thursday, but losses were limited on the dollar's muted reaction to US inflation data that suggested the Federal Reserve would stick to a measured pace of interest rate rises, dealers said.
Published 17 Sep, 2004 12:00am
US MIDDAY: coffee at 3-month high

US MIDDAY: coffee at 3-month high

Benchmark arabica coffee futures rose to a three-month high on a technical bounce Thursday, while the harvest season winds down in top grower Brazil, traders said.
Published 17 Sep, 2004 12:00am
US MIDDAY: cocoa drops

US MIDDAY: cocoa drops

Cocoa futures dropped nearly 2 percent on Thursday as speculative fund selling weighed on the market while industry buyers held back, traders and analysts said.
Published 17 Sep, 2004 12:00am
US MIDDAY: sugar easier

US MIDDAY: sugar easier

NYBOT raw sugar futures closed softer Thursday on switch dealings as players rolled positions out of the spot October contract ahead of its expiration this month, brokers said.
Published 17 Sep, 2004 12:00am
US MIDDAY: wheat turns down

US MIDDAY: wheat turns down

Chicago Board of Trade soft red winter wheat futures turned lower on profit-taking early Thursday after December hit resistance at $3.39-1/2 per bushel, traders said.
Published 17 Sep, 2004 12:00am
US MIDDAY: corn lower

US MIDDAY: corn lower

Corn futures at the Chicago Board of Trade opened firm on Thursday on better-than-expected weekly export sales, but quickly turned lower as the market stays pressured by prospects for a record-large US corn crop, traders said.
Published 17 Sep, 2004 12:00am
US MIDDAY: soyabean futures weak

US MIDDAY: soyabean futures weak

Chicago Board of Trade soyabean futures were weak at midday Thursday as commercial sales and harvest pressure offset supportive weekly US soyabean export sales and buying on technically oversold signs, brokers said.
Published 17 Sep, 2004 12:00am
US MIDDAY: copper at one-month high

US MIDDAY: copper at one-month high

COMEX copper rose to a one-month high at the open on Thursday driven up by a surge in London prices that was triggered by an advance in the Asian market where a temporary supply squeeze sparked the rally, traders said.
Published 17 Sep, 2004 12:00am
US MIDDAY: gold stumbles

US MIDDAY: gold stumbles

COMEX gold slipped Thursday morning in thin trade, as dealers said the market was digesting tame US economic data and also keeping an eye on volatile crude oil prices and the dollar.
Published 17 Sep, 2004 12:00am
US Stocks: Thursday's unofficial close

US Stocks: Thursday's unofficial close

US stocks rose on Thursday as inflation data suggesting the Federal Reserve will not hurry to raise interest rates encouraged investors and oil prices slipped as some refineries restarted after Hurricane Ivan.
Published 17 Sep, 2004 12:00am
Seoul shares hit best close in 4 months

Seoul shares hit best close in 4 months

South Korean shares ended up just over half a percent on Thursday, recording their highest closing level in more than four months, led by gains in bank stocks and encouraged by heavy foreign buying in futures.
Published 17 Sep, 2004 12:00am
BAA prices euro bond, Corus revives bond sale

BAA prices euro bond, Corus revives bond sale

Europe's corporate bond market celebrated firsts on Thursday, as UK airports operator BAA sold its debut euro-denominated bond and Corus showed a maiden first half profit and revived a bond sale.
Published 17 Sep, 2004 12:00am
BAA prices euro bond, Corus revives bond sale

BAA prices euro bond, Corus revives bond sale

Europe's corporate bond market celebrated firsts on Thursday, as UK airports operator BAA sold its debut euro-denominated bond and Corus showed a maiden first half profit and revived a bond sale.
Published 17 Sep, 2004 12:00am
FTSE closes firm, Kingfisher up as profits boom

FTSE closes firm, Kingfisher up as profits boom

Britain's FTSE 100 index closed firmer on Thursday, with home improvements retailer Kingfisher one of the biggest gainers, up 3.3 percent after it beat forecasts with an 18 percent surge in first half profits.
Published 17 Sep, 2004 12:00am
Fauji Fertiliser, Morocco sign joint venture

Fauji Fertiliser, Morocco sign joint venture

A Pakistani fertiliser company has signed an agreement with Morocco for the establishment of a joint venture in the Northern African country to produce 375,000 tonnes of phosporic acid for use by the Fauji Group.
Published 17 Sep, 2004 12:00am