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Print - 2005-03-05
Daimler spurns idea of possible Thales, EADS merger

Daimler spurns idea of possible Thales, EADS merger

DaimlerChrysler, a major shareholder in the European Aeronautic Defence and Space Company, officially ruled out for the first time Friday the idea of a merger between EADS and the French defence technology group Thales as favoured by France. "There are so
Published 05 Mar, 2005 12:00am
Big powers pledge new push on free trade talks

Big powers pledge new push on free trade talks

Major trade powers pledged to bring new energy to global trade talks after meeting in Kenya on Friday, where disputes over market access reflect the gulf rich and poor still have to bridge to strike a deal. Top trade officials from the United States, Euro
Published 05 Mar, 2005 12:00am
Asian drought affects millions, hits crops and exports

Asian drought affects millions, hits crops and exports

A severe Asian drought has left millions of people struggling to find water, damaged crops from India to China and cost millions of dollars in lost exports. In hard-hit Vietnam, desperate farmers burned thorns off cactus to feed the water-storing plants t
Published 05 Mar, 2005 12:00am
Martha Stewart released from jail

Martha Stewart released from jail

US lifestyle guru Martha Stewart left prison just after midnight on Friday at the end of a five month term for lying about a share deal but with her reputation back on the rise. Smiling and waving, the 63-year-old head of a vast media empire flew in a pri
Published 05 Mar, 2005 12:00am
US factory orders rise unexpectedly

US factory orders rise unexpectedly

US factory orders unexpectedly rose 0.2 percent in January on electrical equipment strength while a gauge of business spending also posted solid gains, a government report showed on Friday. The rise in factory orders to a seasonally adjusted $380.53 billi
Published 05 Mar, 2005 12:00am
US job gains pick up in February

US job gains pick up in February

US employers created 262,000 jobs last month, the biggest gain in four months and double January's pace, as auto workers returned from temporary layoffs and construction activity snapped back from a cold January, the government said on Friday. The unemplo
Published 05 Mar, 2005 12:00am
World Bank sees Turkey as potential 'tiger' economy

World Bank sees Turkey as potential 'tiger' economy

Turkey can become an important player in global markets and a European 'tiger' economy if it embraces necessary reforms, the World Bank's representative in Ankara said on Friday. "I have no doubt that it can achieve these objectives and in making this tra
Published 05 Mar, 2005 12:00am
China rules out bond issues to help banks

China rules out bond issues to help banks

Chinese leaders gathered ahead of an annual parliamentary session have ruled out issuing bonds to bail out the country's biggest commercial bank and reiterated the need to move cautiously on currency reform. Bonds will not be issued to fund an expected re
Published 05 Mar, 2005 12:00am
China rules out bond issues to help banks

China rules out bond issues to help banks

Chinese leaders gathered ahead of an annual parliamentary session have ruled out issuing bonds to bail out the country's biggest commercial bank and reiterated the need to move cautiously on currency reform. Bonds will not be issued to fund an expected re
Published 05 Mar, 2005 12:00am
Japan may accept more unskilled foreign workers

Japan may accept more unskilled foreign workers

Japan is considering a broad revision of its immigration policy that might make it easier for unskilled foreign workers to enter the country, a way of coping with a looming labour shortage as its population ages. With estimates that one in four Japanese w
Published 05 Mar, 2005 12:00am
Eurozone retail sales rise, jobless steady

Eurozone retail sales rise, jobless steady

Retail sales in the eurozone rose slightly in January but were lower on an annual basis as unemployment remained high, confirming the fragile state of economic growth in the 12-nation bloc, data showed on Friday. The European Union statistics office said
Published 05 Mar, 2005 12:00am
Long-term oil deal with India

Long-term oil deal with India

Opec-member Venezuela wants to supply crude oil to India, Asia's third-biggest consumer, under a long-term agreement, President Hugo Chavez said on Friday. "We want to have a long-term agreement for crude oil with India," Chavez told Indian business leade
Published 05 Mar, 2005 12:00am
Venezuela renews threat to cut oil supplies to US

Venezuela renews threat to cut oil supplies to US

Venezuelan President Hugo Chavez renewed a threat Friday to halt oil supplies to the United States if Washington "hurts" the Latin American country. Relations between Venezuela, which exports the bulk of its oil to the United States, and Washington have b
Published 05 Mar, 2005 12:00am
Taiwan stocks flat

Taiwan stocks flat

Taiwan stocks closed flat on Friday as tech heavyweights like TSMC came under pressure from weakness in US peers, slower buying by foreign investors and a strong local currency. The TAIEX share index ended down 0.14 percent at 6,193.62, extending a one pe
Published 05 Mar, 2005 12:00am
Chinese shares drift lower, but Yangtze rallies

Chinese shares drift lower, but Yangtze rallies

China's shares slipped 0.5 percent on Friday as investors waited to see what emerged from a weekend parliament session, but Yangtze Power closed a touch higher after unveiling capacity-boosting deals. The benchmark Shanghai composite index slid to 1,287.7
Published 05 Mar, 2005 12:00am
Hong Kong stocks at one-month low

Hong Kong stocks at one-month low

Hong Kong stocks fell more than one percent to fresh one-month lows on Friday with investors fretting over expectations for interest rate hikes, rising oil prices and disappointment over earnings reports. Continued uncertainty over whether Hong Kong Chief
Published 05 Mar, 2005 12:00am
Dow ends up but oil still a headache, Nasdaq slips

Dow ends up but oil still a headache, Nasdaq slips

US blue chip stocks rose on Thursday as crude prices retreated from their session's peak, positive economic data eased inflation worries and Dow component Boeing Co's shares jumped 4 percent. Boeing's climb lifted the Dow, with the stock up $2.12 at $57.4
Published 05 Mar, 2005 12:00am
Indian shares at new peak for second day

Indian shares at new peak for second day

India's key share index rose nearly a percent to a record close for a second day on Friday, as local investors joined foreign funds to step up investments in the rapidly growing economy. The benchmark 30-share Bombay Sensex provisionally closed at 6,851.5
Published 05 Mar, 2005 12:00am
US Treasuries worn down by payrolls fever

US Treasuries worn down by payrolls fever

US Treasuries prices were worn down on Thursday by worries the US labour market might be tightening enough to force a string of further rate hikes from the Federal Reserve. The benchmark 10-year note lost its early gains to be stuck at 4.39 percent, just
Published 05 Mar, 2005 12:00am
US Treasuries worn down by payrolls fever

US Treasuries worn down by payrolls fever

US Treasuries prices were worn down on Thursday by worries the US labour market might be tightening enough to force a string of further rate hikes from the Federal Reserve. The benchmark 10-year note lost its early gains to be stuck at 4.39 percent, just
Published 05 Mar, 2005 12:00am
Malaysian shares lower

Malaysian shares lower

Malaysian share prices closed 0.46 percent lower Friday in listless trade as cautious investors sold out ahead of the weekend, dealers said. They said the market staged a retreat in the afternoon session on profit-taking after morning gains were quickly e
Published 05 Mar, 2005 12:00am
Singapore shares higher

Singapore shares higher

Singapore share prices closed 0.32 percent higher Friday on the back of strong investor appetite for blue chips and overnight gains on Wall Street, dealers said. The Straits Times Index gained 7.02 points to 2,154.55 while the All-Singapore Equities Index
Published 05 Mar, 2005 12:00am
Jakarta shares up, index at record high

Jakarta shares up, index at record high

Indonesian share prices closed 0.77 percent higher Friday as gains in banking stocks and select blue chips pushed the benchmark index to a new record finish, dealers said. The Jakarta Stock Exchange composite index closed up 8.412 points at a record high
Published 05 Mar, 2005 12:00am
Philippines shares close 1.5 percent higher due to sustained buying

Philippines shares close 1.5 percent higher due to sustained buying

Philippines share prices closed 1.5 percent higher on Friday due to sustained buying in selected stocks led by index heavyweight Philippine Long Distance Telephone (PLDT), dealers said. They said sentiment was also boosted by a government announcement tha
Published 05 Mar, 2005 12:00am
Tokyo stocks close higher for seventh day

Tokyo stocks close higher for seventh day

Tokyo stocks extended their winning streak to a seventh session on Friday as a rise in oil prices and earnings optimism boosted energy and resources-related stocks such as trading house Mitsubishi Corp Sumitomo Metal Mining Co also helped the market, rall
Published 05 Mar, 2005 12:00am
Sri Lankan stocks dip

Sri Lankan stocks dip

Sri Lankan stocks ended slightly lower on Friday after a string of record closing highs as small investors skimmed profits in counters across the board, offsetting buying interest in second tier shares, brokers said. The key Colombo all-share index fell a
Published 05 Mar, 2005 12:00am
Hong Kong dollar stuck in tight range ahead of US data

Hong Kong dollar stuck in tight range ahead of US data

The Hong Kong dollar traded in a narrow range against the greenback on Friday and discounts on dollar forwards were also rangebound ahead of the release of a key US employment report due later in the day. "Trading was subdued ahead of the weekend, with th
Published 05 Mar, 2005 12:00am
Swiss franc slips on weak data

Swiss franc slips on weak data

The Swiss franc edged lower against the dollar in early European trade on Friday as weaker-than-expected Swiss economic data suggested that interest rates were set to remain on hold for at least another quarter. The dollar last traded at 1.1810/13 Swiss f
Published 05 Mar, 2005 12:00am
Dollar edges up on chance of robust US jobs data

Dollar edges up on chance of robust US jobs data

The dollar edged up against the yen on Friday as investors bet that healthy employment figures would strengthen the case for a faster pace of rises in US interest rates. The dollar has found support this week on expectations that US non-farm payrolls data
Published 05 Mar, 2005 12:00am
Dollar rises as traders bet on strong jobs report

Dollar rises as traders bet on strong jobs report

The dollar rose on Thursday as strong economic data reinforced market expectations Friday's monthly US employment report would show robust jobs growth. According to economists' median forecast, the report will show a rise of 220,000 non-farm payroll jobs
Published 05 Mar, 2005 12:00am
Chinese yuan ends higher

Chinese yuan ends higher

The yuan ended one notch higher at 8.2764 per US dollar on Friday, near the stronger end of its managed trading range. The one-year non-deliverable dollar forward discount versus the yuan was at 3,300 points, implying a rate of 7.948 yuan per dollar in 12
Published 05 Mar, 2005 12:00am
Asian currencies: rupiah leads drop on oil surge, US outlook

Asian currencies: rupiah leads drop on oil surge, US outlook

The Indonesian rupiah led declines in Asian currencies on Friday as surging oil prices dampened the outlook for economic recovery across a region heavily dependent on imported crude. Asian currencies were also weighed down by a rebounding dollar, which ga
Published 05 Mar, 2005 12:00am
Pakistan and Thailand tie 1-1 in Davis Cup opener

Pakistan and Thailand tie 1-1 in Davis Cup opener

Pakistan and Thailand shared the honours 1-1 on the opening day of the Davis Cup Asia-Oceania Zone Group I Tennis tournament on Friday. Asia's top player Paradorn Srichaphan sweated it out to beat Pakistan's Aqeel Khan 6-4, 1-6, 7-6 (7/3), 6-1, while the
Published 05 Mar, 2005 12:00am
Kallis smashes fastest 50 in Test cricket

Kallis smashes fastest 50 in Test cricket

South Africa reached 340 for three in reply to Zimbabwe's first innings total of 54 at the close of the opening day in the first Test at Newlands here on Friday. Jacques Kallis smashed the fastest 50 in Test cricket, from 24 balls.
Published 05 Mar, 2005 12:00am
Shoaib Malik worried bowling ban could curb career

Shoaib Malik worried bowling ban could curb career

Pakistan's Shoaib Malik is worried his Test career may never blossom because of a question mark over his bowling action. Malik is unlikely to bowl his off spin during the current Test series in India after being reported in October for chucking. Although
Published 05 Mar, 2005 12:00am
Musharraf willing to visit India to watch cricket

Musharraf willing to visit India to watch cricket

Pakistan's President Pervez Musharraf would consider going to watch his country's cricketers on their first tour of rival India for six years if he is invited, officials said on Friday. "I love watching sports and I also love cricket, but I would not go a
Published 05 Mar, 2005 12:00am
Razzaq impresses in Pakistan's tour opener

Razzaq impresses in Pakistan's tour opener

Pakistani all-rounder Abdul Razzaq warmed up for the upcoming Test series against India with an aggressive half-century in the tour opener here on Friday. Razzaq hammered an 82-ball 63 with two sixes and 10 fours as Pakistan were all out for 273 in their
Published 05 Mar, 2005 12:00am
Paris exhibit links 20th century giants Picasso and Bacon

Paris exhibit links 20th century giants Picasso and Bacon

Without Picasso, Francis Bacon might never have taken up a paintbrush and thus deprived the world of one of the 20th century giants of the art world, according to a new Paris exhibition. Bacon was just 18 when on a visit to Paris in 1927 he experienced an
Published 05 Mar, 2005 12:00am
Afghanistan set for parliamentary vote in September

Afghanistan set for parliamentary vote in September

Afghanistan's long-delayed first post-Taleban parliamentary polls are likely to be held in mid-September, a source close to the electoral commission told AFP Friday. The vote has been put off repeatedly during the past eight months and hopes that it would
Published 05 Mar, 2005 12:00am
IRA ally Sinn Fein suspends seven over stabbing

IRA ally Sinn Fein suspends seven over stabbing

Sinn Fein, political ally of the IRA, has suspended seven party members under mounting pressure over a brutal Belfast stabbing that has driven the party to one of the lowest ebbs in its 100-year history. The January killing of 33-year-old Robert McCartney
Published 05 Mar, 2005 12:00am
Indonesian 'Hobbit' skeleton called a new human species

Indonesian 'Hobbit' skeleton called a new human species

A partial skeleton of a three-foot (one-meter)-tall hominid discovered in 2003 in an Indonesian cave and nicknamed "the Hobbit" is probably a new, dwarf species of human, said a study out Thursday. A team of scientists reached the conclusion after analysi
Published 05 Mar, 2005 12:00am
Azerbaijan opposition buries slain journalist

Azerbaijan opposition buries slain journalist

Several thousand mourners turned out in Azerbaijan on Friday to bury a murdered investigative journalist and an opposition leader gave the oil-rich country's dynastic ruler two weeks to find his killers or resign. Elmar Huseinov, a 38-year-old magazine ed
Published 05 Mar, 2005 12:00am
Republicans want to cut Bush foreign aid request

Republicans want to cut Bush foreign aid request

Top Republicans in the US House of Representatives on Thursday proposed slashing foreign aid and increasing the defence spending that President George W. Bush asked for in an $81 billion emergency spending plan for Iraq and Afghanistan. The plan would add
Published 05 Mar, 2005 12:00am
Rice to visit India in mid-March

Rice to visit India in mid-March

US Secretary of State Condoleezza Rice will pay a lightning visit to India on March 16, her first since she took over the post at the start of the year, an Indian government spokesman said Friday. She is expected to discuss bilateral, regional and interna
Published 05 Mar, 2005 12:00am
BBC under fire for paying burglar appearance fee

BBC under fire for paying burglar appearance fee

The BBC, under fire for dumbing down its broadcasts, came under new attack on Friday for paying a convicted burglar to appear in a programme about his own crime in which he was wounded and his accomplice shot dead. The notorious burglary in which farmer T
Published 05 Mar, 2005 12:00am
Up to 89 million more AIDS victims in Africa by 2025

Up to 89 million more AIDS victims in Africa by 2025

A further 89 million people in Africa could be infected by the HIV virus by 2025 in the continent's biggest crisis since slavery, the United Nations said on Friday. The worst case scenario, which projects a four-fold increase in deaths from the killer dis
Published 05 Mar, 2005 12:00am
Assad to announce Lebanon pullback

Assad to announce Lebanon pullback

Syrian President Bashar al-Assad prepared to announce on Saturday a partial pullout of troops from Lebanon, but US President George W. Bush warned nothing short of a full withdrawal would satisfy Washington. "When we say withdraw we mean complete withdraw
Published 05 Mar, 2005 12:00am
Ukraine former minister linked to murder found dead

Ukraine former minister linked to murder found dead

Former Ukraine interior minister Yuri Kravchenko, linked to the murder of an investigative journalist, apparently committed suicide on Friday, police said. President Viktor Yushchenko has accused the former Ukraine government of covering up the murder in
Published 05 Mar, 2005 12:00am
Short chat with Putin could end Chechen war: Maskhadov

Short chat with Putin could end Chechen war: Maskhadov

Chechen separatist leader Aslan Maskhadov said on Friday it would only take a brief talk with President Vladimir Putin to persuade him to end the war in Chechnya. But Maskhadov, the veteran leader of liberation forces that have fought Russia for a decade,
Published 05 Mar, 2005 12:00am
Bangladesh and India exchange gunfire along borders

Bangladesh and India exchange gunfire along borders

Gunfire flew between border guards from Bangladesh and India on Friday in a dispute over a barbed-wire fence being built along the frontier, a Bangladeshi official said. The two countries have reinforced border forces and asked civilians to stay away from
Published 05 Mar, 2005 12:00am
China boosts military spending

China boosts military spending

China announced a boost in military spending Friday while working to allay fears that an anti-secession law on Taiwan constituted a move towards war as it prepared for its annual sitting of parliament. Beijing said that national defence expenditures this
Published 05 Mar, 2005 12:00am
Iraq's new government may take weeks to be formed

Iraq's new government may take weeks to be formed

More than a month after Iraq's historic election, ethnic and sectarian divisions have stymied efforts to form a government, deepening political uncertainty and delaying badly needed reconstruction. The divisions and political horse-trading among Shia and
Published 05 Mar, 2005 12:00am
Chaotic scenes force Indian parliament to adjourn

Chaotic scenes force Indian parliament to adjourn

India's parliament broke up in chaos for a third day Friday following the controversial appointment of a government allied to the ruling national Congress party in the tiny eastern state of Jharkhand. Livid opposition MPs bellowed for the dismissal of the
Published 05 Mar, 2005 12:00am
Fossett claims aviation milestone

Fossett claims aviation milestone

Flying into history, American aviator Steve Fossett landed a single-engine experimental jet plane here Thursday to complete the first solo flight around the world without refuelling. Nearly three days after taking off in the Virgin Atlantic GlobalFlyer fr
Published 05 Mar, 2005 12:00am
North Korea postpones parliamentary session

North Korea postpones parliamentary session

North Korea on Friday made the unprecedented move of postponing its annual session of parliament, due to start next week, amid rising tensions over its nuclear weapons programme. Pyongyang's official Korean Central News Agency, monitored in Seoul, gave no
Published 05 Mar, 2005 12:00am
Nepal extends detention of political leaders

Nepal extends detention of political leaders

Nepal has extended the detention of opposition leaders by two months, officials said on Friday, ignoring international pressure on King Gyanendra to restore democracy in the Himalayan kingdom. Dozens of political activists, including the chiefs of mainstr
Published 05 Mar, 2005 12:00am
Indian rupee slips

Indian rupee slips

The rupee ended weaker on Friday after a late bout of suspected dollar buying intervention by the central bank and with dealers preferring to play it safe before a key US employment report later in the day. The Indian currency closed at 43.75/76 per dolla
Published 05 Mar, 2005 12:00am
Sterling gains

Sterling gains

The British pound shot up against the dollar on Friday, after disappointing jobs data hurt the US currency but sterling was little changed against the euro. Before the release of US payrolls data, which dominated Friday trade on the foreign exchange marke
Published 05 Mar, 2005 12:00am
Pre-payrolls calm keeps dollar rangebound

Pre-payrolls calm keeps dollar rangebound

The dollar held its ground against major currencies on Friday as investors waited for US jobs data later in the day to provide clues on how fast US interest rates would rise. So far this week, market expectations for an upbeat non-farm payrolls reading ha
Published 05 Mar, 2005 12:00am
Seoul shares hit five-year closing high

Seoul shares hit five-year closing high

Seoul shares edged up 0.2 percent on Friday to their highest close in more than five years, as further signs of a pickup in domestic demand boosted lenders such as Kookmin Bank, while higher crude prices lifted oil refiners. POSCO Co Ltd, the world's fift
Published 05 Mar, 2005 12:00am
US Stocks: Friday's unofficial close

US Stocks: Friday's unofficial close

US stocks rose on Friday after a moderately strong February jobs report eased worries about accelerated interest rate hikes by the Federal Reserve, helping rate-sensitive financial stocks. General Electric Co, which has a large financing business, climbed
Published 05 Mar, 2005 12:00am
Bonds: General Motors hit as Delphi CFO resigns

Bonds: General Motors hit as Delphi CFO resigns

Bonds of General Motors and Ford were hit late on Friday after Delphi, the largest US auto parts maker, said its chief financial officer has resigned over an investigation into past financial statements. General Motors' 8.375 percent euro bond due in July
Published 05 Mar, 2005 12:00am
Bonds: General Motors hit as Delphi CFO resigns

Bonds: General Motors hit as Delphi CFO resigns

Bonds of General Motors and Ford were hit late on Friday after Delphi, the largest US auto parts maker, said its chief financial officer has resigned over an investigation into past financial statements. General Motors' 8.375 percent euro bond due in July
Published 05 Mar, 2005 12:00am
FTSE 100 gain tempered by GSK reversal

FTSE 100 gain tempered by GSK reversal

UK stocks ended higher on Friday as lofty crude oil prices pumped up the oil sector, while bank Lloyds TSB and logistics group Exel rose after reporting forecast-beating profits. Drug-maker GlaxoSmithKline took away some of the shine, however, after two b
Published 05 Mar, 2005 12:00am
Conflict cuts Africa coffee output

Conflict cuts Africa coffee output

Lengthy conflicts and historically low prices have slashed Africa's share of the world coffee market, while tight certification rules set by rich nations are a further deterrent, African farmers said on Friday. Inter-African Coffee Organisation (IACO) exe
Published 05 Mar, 2005 12:00am
EU agency gives all-clear for GMO maize planting

EU agency gives all-clear for GMO maize planting

Europe's leading food safety agency gave a clean bill of health on Friday for the planting of a genetically modified (GMO) maize, only the first step towards possible EU approval for growing. While the EU has now lifted its 6-year ban on allowing imports
Published 05 Mar, 2005 12:00am
Oil rally stalls on Opec output rise possibility

Oil rally stalls on Opec output rise possibility

A sharp rally in oil prices to near-record peaks stalled on Friday after Opec-member Nigeria said the cartel may agree later this month to raise output to cool the red-hot market. US light crude was off 7 cents to $53.50 a barrel, after dropping as low as
Published 05 Mar, 2005 12:00am
London sugar futures sag

London sugar futures sag

London sugar futures came under fresh speculative and producer selling pressure on Friday after the European Union said the bloc's surplus might jump sharply next season, traders said. A weaker-than-expected New York market underpinned losses, they added.
Published 05 Mar, 2005 12:00am
New York cotton closes firm on late speculative buying

New York cotton closes firm on late speculative buying

Cotton futures banked on late speculative buying to finish higher Friday, and follow-through purchases could boost fibre contracts going into next week, analysts said. The New York Board of Trade's key May contract went up 0.71 cent to finish at 51.23 cen
Published 05 Mar, 2005 12:00am
London coffee closes at 4-1/2-year peak on funds

London coffee closes at 4-1/2-year peak on funds

London benchmark coffee prices gained over one percent to close at their highest in more than 4-1/2 years after a new injection of fund money into the market. May finished at $959 a tonne, up $1 and the loftiest closing price for a second-month contract s
Published 05 Mar, 2005 12:00am
Metals close near highs on weak dollar

Metals close near highs on weak dollar

Most base metals closed firmly on Friday, supported by a weaker dollar, with copper and aluminium tantalisingly near recent highs, traders said. "The prices are up, but volumes were generally thin. The non-farm payrolls caused a bit of a stir. People had
Published 05 Mar, 2005 12:00am
Gold rallies in Europe, palladium at three-month high

Gold rallies in Europe, palladium at three-month high

Gold prices rose to the day's highs in late Friday trading in Europe, underpinned by a downturn in the dollar after February US payrolls data, traders said. The data showed stronger-than-expected jobs growth last month, with 262,000 non-farm payroll jobs
Published 05 Mar, 2005 12:00am
US MIDDAY: cocoa higher on discretionary buyings

US MIDDAY: cocoa higher on discretionary buyings

New York cocoa futures extended gains to close at a 16-week high Friday after a sliding dollar and continued concerns about future crop prospects lured speculators to the market, traders said. "The specs were discretionary buyers again. Trade was a scale-
Published 05 Mar, 2005 12:00am
US MIDDAY: sugar easier on speculative sales

US MIDDAY: sugar easier on speculative sales

Raw sugar futures settled lower Friday on producer and speculative sales, although trade buying served to pare its losses, analysts said. Market players will be looking for news over the weekend to provide direction to the sweetener next week, they said.
Published 05 Mar, 2005 12:00am
US MIDDAY: wheat sags on technical weakness

US MIDDAY: wheat sags on technical weakness

Wheat futures at the Chicago Board of Trade were lower early on Friday on technical weakness and reminders of plentiful global supplies, traders said. As of 11:10 am (1710 GMT), May wheat was down 2 cents at $3.36 per bushel. R.J. O'Brien sold 1,000 May c
Published 05 Mar, 2005 12:00am
US MIDDAY: corn weaker on fund buying

US MIDDAY: corn weaker on fund buying

Corn futures at the Chicago Board of Trade were choppy and weak early on Friday in quieter trading after the recent wave of fund buying drove the market to 5-1/2-month highs, traders said. At 10:25 am CST (1625 GMT), March was down 1/4 at $2.09-1/4 per bu
Published 05 Mar, 2005 12:00am
US MIDDAY: soyabean futures firm on commercial demand

US MIDDAY: soyabean futures firm on commercial demand

The soyabean futures market was volatile early on Friday, rallying on the open then dipping lower before bouncing back, as uncertainty about South American crop weather going into the weekend kept traders edgy, floor traders said. The market opened higher
Published 05 Mar, 2005 12:00am
US MIDDAY: copper rallies on employment data

US MIDDAY: copper rallies on employment data

US copper futures shot up toward the long-term high early Friday, after US stocks rallied and the dollar declined on a better-than-expected jobs report, traders said on Friday. US non-farm payrolls grew by a greater-than-forecast 262,000 in February, comp
Published 05 Mar, 2005 12:00am
BRIDGE NOTES: Buffing by making psychic bids

BRIDGE NOTES: Buffing by making psychic bids

During a quiet and congenial rubber bridge session at posh Defence Club in Karachi, a psychic bid turned it into a noisy affair with defending partner accusing each other for falling a prey to a bogus bid made by opponent. However, when the dust settled d
Published 05 Mar, 2005 12:00am
SPORTS WORLD: Pakistan need to foil Indian bid for another whitewash

SPORTS WORLD: Pakistan need to foil Indian bid for another whitewash

No one is in a position to predict who will win the Pakistan-India Test series, beginning on March 8 at Mohali, but it is certain the star-studded Indian team is all set for 3-0 whitewash against Pakistan. However, it is up to captain Inzamam-ul-Haq and B
Published 05 Mar, 2005 12:00am
SPORTS WORLD: The sad rejection of Waqar as bowling coach

SPORTS WORLD: The sad rejection of Waqar as bowling coach

Cricket followers would have been saddened by the failure of the talks held between former renowned speedster Waqar Younus and PCB Chairman Shaharyar M. Khan on the latter's offer of appointment as a bowling coach. The pacer understood the urgency of the
Published 05 Mar, 2005 12:00am
Exodus of Pakistani musicians

Exodus of Pakistani musicians

Due to a lack of opportunities to make their living in the country, a number of experienced Pakistani musicians have in recent years migrated to countries of Europe and North American continent. The Pakistani artistes who have said goodbye to their countr
Published 05 Mar, 2005 12:00am
LAHORE CULTURAL DIARY: Absorbing paintings exhibitions

LAHORE CULTURAL DIARY: Absorbing paintings exhibitions

A couple of exhibitions of paintings and multi-media, and a seminar related to the plastic and other arts, a music concert and WWF Pakistan Nature Carnival were highlights of cultural activities in Lahore this past week.
Published 05 Mar, 2005 12:00am
Landhi Cattle Colony: treasure of black gold - just excavate it!

Landhi Cattle Colony: treasure of black gold - just excavate it!

Landhi Cattle Colony, Bin Qasim Town, Karachi, Pakistan is a gargantuan cattle colony, a blessing of the Almighty God that harbours a black-gold-mine which can emanate million of dollars. It is one of the largest cattle colony in the world where more than
Published 05 Mar, 2005 12:00am
CAPITAL CULTURAL SCENE: Smell of spring is in the air

CAPITAL CULTURAL SCENE: Smell of spring is in the air

Winter is very slowly easing out and the spring is stealthily creeping in. One can smell it in the air and here is a wish that the spring should last forever. However, spring is a short lived season in this part of the world and as soon as it comes, one k
Published 05 Mar, 2005 12:00am
CURRENT TOPICS: Bus diplomacy breaches a barrier

CURRENT TOPICS: Bus diplomacy breaches a barrier

The agreement on Kashmir bus service looks like a small step but has the potential to become a giant stride on way to final rapprochement. Srinagar - Muzzafarabad bus services is a milestone on the road to reconciliation. Do not equate it with Lahore - De
Published 05 Mar, 2005 12:00am
Can earthquakes be predicted?

Can earthquakes be predicted?

Think scientists are close to being able to predict earthquakes? Think again. The magnitude 9 quake off the Indonesian island of Sumatra that triggered December's devastating tsunami, was a potent reminder that while it is easy to say where big quakes wil
Published 05 Mar, 2005 12:00am
Maleeha fetes Jatoi

Maleeha fetes Jatoi

Pakistan's High Commissioner to Britain Dr Maleeha Lodhi hosted a dinner in the honour of Federal Minister for Water and Power Liaqat Ali Jatoi and his delegation at her residence here on Thursday.
Published 05 Mar, 2005 12:00am
APCPA concerned over new sales tax rules

APCPA concerned over new sales tax rules

All Pakistan Cotton Power-looms Association (APCPA) has expressed grave concern over the new sales tax rules, in which zero rated invoice facility has been provided to textile exporters. In a joint press statement, Chaudhry Abdul Haq Chairman, and Mohamma
Published 05 Mar, 2005 12:00am
South Africans interested in importing Pakistani mangoes

South Africans interested in importing Pakistani mangoes

A five-member delegation of fresh fruit dealers and a plant pathologist from South Africa have arrived in Multan to meet the members of Mango Growers Association Pakistan. The delegation is accompanied by Shamoon Sadiq, CEO of PHDEB, Ministry of Commerce.
Published 05 Mar, 2005 12:00am
Chinese official coming next week

Chinese official coming next week

A senior official of the Chinese foreign ministry will visit Pakistan next week to hold preparatory meetings with the Pakistani side for the forthcoming visit of Premier Wen Jiabao. Diplomatic sources told APP in Beijing that the Chinese government attach
Published 05 Mar, 2005 12:00am
Partly Facetious: Madressa enrolment, terrorism and uniform

Partly Facetious: Madressa enrolment, terrorism and uniform

"You know there is so much about my own country that I don't understand. I mean there has been much talk of an increase in the number of Madressa goers and the recent statistics released by the World Bank show an entirely different picture. They reveal th
Published 05 Mar, 2005 12:00am
Efforts on for pollution-free atmosphere

Efforts on for pollution-free atmosphere

Provincial Industries and Investment Minister Muhammad Ajmal Cheema has said that adequate efforts are being made for developing pollution-free atmosphere in industrial sector of the Punjab. Speaking as chief guest at certificate distribution ceremony hel
Published 05 Mar, 2005 12:00am
Sindh looks for bumper wheat crop

Sindh looks for bumper wheat crop

Sindh province would have bumper wheat crop this year and its target of 2.2 million metric tons will be conveniently achieved. Sindh Food Department would procure 0.3 million tons of wheat from Sukkur region. However, despite bright prospects of achieving
Published 05 Mar, 2005 12:00am
Punjab government allocates Rs 11 billion for farm-to-market roads

Punjab government allocates Rs 11 billion for farm-to-market roads

The Punjab government has allocated Rs 11 billion for the construction of farm-to-market roads and to extend financial assistance to the tehsil municipal administrations during current fiscal year Official sources told Business Recorder on Friday t
Published 05 Mar, 2005 12:00am
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