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Print - 2005-04-06
France's Pernod in talks to buy UK's Allied Domecq

France's Pernod in talks to buy UK's Allied Domecq

France's Pernod Ricard, the world's third-largest spirits group, is in talks to buy bigger rival Allied Domecq, the two firms said on Tuesday, sending shares in the UK group 19 percent higher. Pernod, which owns Chivas Regal scotch and Jacob's Creek wine,
Published 06 Apr, 2005 12:00am
Morgan Stanley chairman sees no take-over

Morgan Stanley chairman sees no take-over

The chairman of Morgan Stanley International said on Tuesday he did not expect a take-over of the US investment bank after a management bust-up prompted speculation it had become a bid target. David Walker, who heads the bank's international business, tol
Published 06 Apr, 2005 12:00am
China to launch first unified index

China to launch first unified index

China plans to introduce its first unified stock index covering shares on the Shanghai and Shenzhen securities exchanges, according to a statement released Tuesday. The index to be launched Friday would cover 300 listed blue chip companies on the two exch
Published 06 Apr, 2005 12:00am
Eurotunnel gets creditor support for debt talks

Eurotunnel gets creditor support for debt talks

Eurotunnel has agreed with a committee of creditors a legal framework for talks to reduce its 6.4 billion pounds ($12 billion) of debt, as a deadline looms to pay all interest in cash. The indebted Anglo-French subsea tunnel operator has been negotiating
Published 06 Apr, 2005 12:00am
Russia losing inflation fight: finance minister

Russia losing inflation fight: finance minister

Russia is losing the fight against inflation, Finance Minister Alexei Kudrin said on Tuesday, as new figures showed that monthly retail price growth accelerated in March. "We are already deviating from the goals of fighting inflation," Kudrin, a fiscal co
Published 06 Apr, 2005 12:00am
Ford aims to cut 1,000 US jobs

Ford aims to cut 1,000 US jobs

Ford Motor Co said on Tuesday it is offering buyout packages to salaried employees, with the aim of eliminating about 1,000 US jobs by the end of June in an effort to cut costs and meet profit targets. "One thousand is about the number we have targeted as
Published 06 Apr, 2005 12:00am
No top Chinese officials at spring IMF meetings: US

No top Chinese officials at spring IMF meetings: US

Senior Chinese officials have said they will not attend spring meetings of the International Monetary Fund and World Bank at the end of next week, a US Treasury Department official said on Tuesday. Although lower-level representatives from Beijing may sti
Published 06 Apr, 2005 12:00am
IMF sees Iraq economic programme in the fall

IMF sees Iraq economic programme in the fall

The International Monetary Fund and new Iraqi government expect to have an economic adjustment programme in place in the fall if security improves, the IMF's top official for the Middle East said on Monday. Mohsin Khan, IMF director of the Middle East and
Published 06 Apr, 2005 12:00am
Mauritius to become duty-free island

Mauritius to become duty-free island

Mauritius has announced ambitious plans to become the world's first duty-free island in its bid to turn the sun-drenched Indian Ocean nation into a tourist "shopping paradise." Speaking before parliament late on Monday, Finance Minister Pravind Jugnauth a
Published 06 Apr, 2005 12:00am
Google adding personal video to search repertoire

Google adding personal video to search repertoire

Google Inc plans to put out a call for personal video clips as it moves to further expand the reach of its Web search business, company co-founder Larry Page said on Monday. "We're going to start taking video submissions from people," Page said at the ann
Published 06 Apr, 2005 12:00am
Chinese firm sued by Intel hits back with own suit

Chinese firm sued by Intel hits back with own suit

A company targeted by Intel Corp in the chip giant's first copyright lawsuit in China has countersued, accusing the US firm of engaging in illegal monopolistic practices, state media said on Tuesday. Network equipment maker Shenzhen Donjin Communication T
Published 06 Apr, 2005 12:00am
Long-term economic growth not on track: Manmohan

Long-term economic growth not on track: Manmohan

Indian Prime Minister Manmohan Singh, the architect of India's decade-old economic reforms, said Tuesday the country was not on track to achieving long-term growth targets. He told a meeting of the economic think-tank, the Planning Commission, that object
Published 06 Apr, 2005 12:00am
US firms planned fewer job cuts during March

US firms planned fewer job cuts during March

US firms announced 20 percent fewer layoffs in March after a jump in the prior month, suggesting the labour market is recovering in fits and starts. Employment consulting firm Challenger, Gray & Christmas Inc said employers announced 86,396 job cuts last
Published 06 Apr, 2005 12:00am
EU declares readiness to talk to US in aircraft row

EU declares readiness to talk to US in aircraft row

The EU followed the United States on Tuesday in declaring its readiness to resume talks on subsidies to aircraft rivals Airbus and Boeing but offered no date ahead of a looming deadline for legal action. The statement came the day after US Deputy Secretar
Published 06 Apr, 2005 12:00am
Sri Lankan stocks inch to fifth straight closing high

Sri Lankan stocks inch to fifth straight closing high

Sri Lankan stocks inched to a fifth consecutive life closing high on Tuesday as small investors bought finance and banking shares after recent sector gains, brokers said. The key Colombo all-share index rose a provisional 0.02 percent, or 0.34 points, to
Published 06 Apr, 2005 12:00am
US stocks surge as oil retreats, AIG surges

US stocks surge as oil retreats, AIG surges

US stocks ended higher on Monday as crude oil retreated from record highs, while a surge of almost 5 percent in shares of insurer American International Group Inc boosted the Dow. AIG climbed after New York Attorney General Eliot Spitzer said he expects t
Published 06 Apr, 2005 12:00am
Malaysian shares rally

Malaysian shares rally

Malaysian share prices closed 0.30 percent higher on Tuesday after light selling alternated with bargain hunting of select blue chips, dealers said. The Kuala Lumpur Composite Index rose 2.58 points to 869.81. Volume was 337.25 million shares worth 711.37
Published 06 Apr, 2005 12:00am
US Treasuries mixed, trading as scant as data

US Treasuries mixed, trading as scant as data

Longer-dated US Treasury debt prices drifted lower in thin, erratic trade on Monday in a market mostly focused on technical levels in the absence of economic data. After last week's jam-packed economic data calendar, the absence of new information on jobs
Published 06 Apr, 2005 12:00am
US Treasuries mixed, trading as scant as data

US Treasuries mixed, trading as scant as data

Longer-dated US Treasury debt prices drifted lower in thin, erratic trade on Monday in a market mostly focused on technical levels in the absence of economic data. After last week's jam-packed economic data calendar, the absence of new information on jobs
Published 06 Apr, 2005 12:00am
Thai share prices close flat

Thai share prices close flat

Thai share prices closed flat on Tuesday, losing gains from a morning rebound on concerns a violent insurgency in the southern provinces could escalate, dealers said. The Stock Exchange of Thailand composite index lost 0.86 points or 0.13 percent to 681.6
Published 06 Apr, 2005 12:00am
Singapore shares unchanged

Singapore shares unchanged

Singapore shares closed virtually unchanged on Tuesday as profit-taking erased earlier gains in the absence of fresh leads, dealers said. The Straits Times Index rose just 0.01 point to 2,157.81. Volume traded totalled 520 million shares worth 526 million
Published 06 Apr, 2005 12:00am
Jakarta shares dip amid interest rate worries

Jakarta shares dip amid interest rate worries

Indonesian share prices closed 0.33 percent lower on Tuesday on profit-taking amid fears the central bank will raise the benchmark interest rate of Bank Indonesia Certificates (SBI), dealers said. The Jakarta Stock Exchange composite index closed down 3.6
Published 06 Apr, 2005 12:00am
Tokyo stocks rise on dip in yen and oil

Tokyo stocks rise on dip in yen and oil

The Nikkei average put on 0.92 percent on Tuesday, its biggest one-day gain in six weeks, helped by rises in auto makers such as Honda after the dollar hit five-month peaks against the yen and oil prices declined. Other exporters such as office equipment
Published 06 Apr, 2005 12:00am
Taiwan markets closed

Taiwan markets closed

Taiwan's government offices, private businesses and financial markets are closed on Tuesday for the Tomb Sweeping holiday and will reopen on Wednesday. The main TAIEX stock index edged down 0.15 percent on Monday to 6,019.93 points after high oil prices h
Published 06 Apr, 2005 12:00am
Indian shares slide on high oil, strong dollar

Indian shares slide on high oil, strong dollar

Indian shares slumped nearly 1 percent on Tuesday, while the rupee slid for the second straight day plagued by a fresh spike in world prices of oil, the country's biggest import, and the dollar's broad gains. The 30-share Mumbai index ended 0.82 percent l
Published 06 Apr, 2005 12:00am
Big rate rises pose risk to financial stability: IMF

Big rate rises pose risk to financial stability: IMF

Bigger than expected rises in long-term interest rates, or a sharp fall in the dollar, pose risks to a financial system that is at its most resilient in a long time, the International Monetary Fund said on Tuesday. In its global financial stability report
Published 06 Apr, 2005 12:00am
Chinese shares decline as steel, aviation weigh

Chinese shares decline as steel, aviation weigh

China's shares fell nearly 1 percent on Tuesday as investors dumped steel and aviation counters, fearful of economic cooling measures yet to come and a spate of recent stock sales. The Shanghai composite index, which had chalked up its lowest finish in ne
Published 06 Apr, 2005 12:00am
Chinese yuan ends firmer

Chinese yuan ends firmer

The yuan ended one notch firmer at 8.2765 per US dollar on Tuesday, near the stronger end of its managed trading range. The one-year non-deliverable dollar forward discount versus the yuan was at 3,450 points, implying a rate of 7.933 yuan per dollar in 1
Published 06 Apr, 2005 12:00am
Indian rupee recovers from lows

Indian rupee recovers from lows

The rupee recovered early losses to end only marginally weaker on Tuesday, its second straight day of losses, as the dollar's rise to multi-month highs against major currencies and firm oil prices limited gains, dealers said. The dollar, which hit a fresh
Published 06 Apr, 2005 12:00am
Dollar hits fresh highs on US rate outlook

Dollar hits fresh highs on US rate outlook

The dollar rose to a five-month high against the yen and a two-month peak versus the euro on Tuesday on expectations the Federal Reserve could hasten the pace of interest rates rises to ward off inflation. The relative softness of the Japanese and euro zo
Published 06 Apr, 2005 12:00am
Dollar gains on widening interest rate spreads

Dollar gains on widening interest rate spreads

The dollar scaled five-month peaks against the yen and touched a seven-week high versus the euro on Monday on the widening interest rate differentials between the United States and Europe and Japan. Higher US rates often bolster the currency by making dol
Published 06 Apr, 2005 12:00am
Most Asian currencies decline

Most Asian currencies decline

The Thai baht led declines in Asian currencies on Tuesday as escalating violence in Thailand's southern provinces threatened to hurt its tourism industry at a time when its economy is suffering from surging oil prices. The Singapore dollar hit a five-mont
Published 06 Apr, 2005 12:00am
Clubs scrutiny

Clubs scrutiny

Chairman Pakistan Cricket Board (PCB) Shaharyar M. Khan has constituted a committee comprising Abdul Jaleel Khan as chairman and Professor Abdul Rauf Farooqi as member to hold scrutiny of district clubs of Rajanpur and Bahawalnager. The committee will hol
Published 06 Apr, 2005 12:00am
PCB chief condoles

PCB chief condoles

Chairman Pakistan Cricket Board (PCB)Shahayar M. Khan has expressed sorrow over the demise of the father of Shamsa Hashmi, PCB's women wing secretary. In a condolence message, PCB chairman prayed that may Allah Almighty rest the departed soul in eternal p
Published 06 Apr, 2005 12:00am
Aussies squad

Aussies squad

Legspinner Stuart MacGill was named Tuesday in Australia's 16-man touring squad for the Ashes series against England this northern summer.
Published 06 Apr, 2005 12:00am
PCB announces election results

PCB announces election results

Pakistan Cricket Board (PCB) has announced election results of District Cricket Associations Shikarpur, Nawabshah, Sanghar, Mirpurkhas, Badin, Thatta and Hyderabad. The PCB's Election Commissioner Javed Zaman conducted the elections of these cricket bodie
Published 06 Apr, 2005 12:00am
Chanderpaul to lead West Indies

Chanderpaul to lead West Indies

Shivnarine Chanderpaul was given a vote of confidence after leading West Indies to a draw in the opening Test against South Africa when he was appointed captain for the remainder of the series and the forthcoming series against Pakistan. The 30-year-old l
Published 06 Apr, 2005 12:00am
Kallis helps South Africa salvage draw

Kallis helps South Africa salvage draw

Jacques Kallis completed a record-equalling 21st Test hundred to help South Africa salvage a hard-fought draw in the opening cricket Test against West Indies on Monday. The 29-year-old Kallis hit an undefeated 109, his sixth Test hundred against West Indi
Published 06 Apr, 2005 12:00am
PCB wants 5000 tickets for Delhi ODI

PCB wants 5000 tickets for Delhi ODI

Pakistan Cricket Board (PCB) has requested BCCI to reserve 5,000 match tickets for Pakistani cricket fans for the 6th One Day International (ODI) to be played at Delhi on April 17. According to a spokesman of PCB, PCB Chairman has returned home from India
Published 06 Apr, 2005 12:00am
Marshall and Astle hit tonnes

Marshall and Astle hit tonnes

Hamish Marshall and Nathan Astle scored centuries and Brendon McCullum fell one short as New Zealand amassed a huge total of 561 on the second day of the first Test here Tuesday. As the runs flowed on a benign pitch, Sri Lanka were 48 without loss from 12
Published 06 Apr, 2005 12:00am
India find unlikely match-winner in Dhoni against Pakistan

India find unlikely match-winner in Dhoni against Pakistan

Mahendra Dhoni was a surprise hero with an explosive maiden century as India thrashed Pakistan by 58 runs in the second one-day international here on Tuesday. The 24-year-old wicket-keeper smashed an entertaining 148 in only his fifth match to help the ho
Published 06 Apr, 2005 12:00am
Mona Lisa's smile seen in a new light

Mona Lisa's smile seen in a new light

The world can now see Mona Lisa's smile in a new light as she goes on display in a renovated, airy room in the Louvre, which has brought out the true colours of the 500-year-old painting, experts said Tuesday. "She's not as dark as we think," said Cecile
Published 06 Apr, 2005 12:00am
UN atomic agency to meet to decide on new leader

UN atomic agency to meet to decide on new leader

The UN atomic agency is to meet on April 27 to decide on its next director general, with current chief Mohamed ElBaradei currently the only candidate, according to a confidential agency document obtained by AFP Tuesday. The notification was made Tuesday b
Published 06 Apr, 2005 12:00am
Amnesty offered to Assam separatists

Amnesty offered to Assam separatists

The provincial government in India's troubled north-eastern state of Assam announced Tuesday a general amnesty to separatists who lay down arms and surrender before April 30. The amnesty is open to four outlawed groups - the United Liberation Front of Aso
Published 06 Apr, 2005 12:00am
UN expert calls on US to open secret detention centres

UN expert calls on US to open secret detention centres

A UN human rights expert dealing with torture on Tuesday called on the United States to grant him access to all places of detention under its jurisdiction, including ones that are kept secret. The UN special rapporteur on torture, Manfred Nowak, who earli
Published 06 Apr, 2005 12:00am
Japan's oldest person dies at 114

Japan's oldest person dies at 114

Japan's oldest person Ura Koyama, born on August 30, 1890, died of pneumonia on Tuesday at the age of 114 at a hospital in the western province of Fukuoka, news reports said, quoting her family.
Published 06 Apr, 2005 12:00am
Canadian media magnate dies

Canadian media magnate dies

Canadian business mogul Edward Bronfman, who once controlled an empire which accounted for 10 percent of the Toronto Stock Exchange, has died, aged 77. His family announced his death, from colon cancer, in a notice in the Globe and Mail newspaper, and sai
Published 06 Apr, 2005 12:00am
Venezuelan hoped to blow himself up for humanity

Venezuelan hoped to blow himself up for humanity

A depressed Venezuelan man smuggled a grenade onto an airliner bound for Britain where he intended to blow himself up to highlight humanitarian causes, a British court heard on Tuesday. But the Old Bailey heard former mosque worker and devout Muslim Hasil
Published 06 Apr, 2005 12:00am
Government goes on despite Haider split: Austria chancellor

Government goes on despite Haider split: Austria chancellor

Austria's two-party government shied away from snap elections when Chancellor Wolfgang Schuessel on Tuesday opted to continue the pact despite a split in Joerg Haider's far-right party. "We have decided to continue our successful co-operation," Schuessel
Published 06 Apr, 2005 12:00am
Saudi forces kill top militant

Saudi forces kill top militant

Saudi forces waging a fierce three-day battle with gunmen have killed a top militant suspected of masterminding al Qaeda bombings in Casablanca, security sources said on Tuesday. They said Abdulkarim al-Mejjati was one of 10 militants killed in the clashe
Published 06 Apr, 2005 12:00am
India and Uzbekistan agree to increase defence ties

India and Uzbekistan agree to increase defence ties

India and Uzbekistan signed pacts on Tuesday to increase co-operation in education, trade and defence with an emphasis on counter-terrorism and joint military exercises. The agreements were signed after talks between Uzbekistan's President Islam Karimov a
Published 06 Apr, 2005 12:00am
Blair calls UK election on May 5

Blair calls UK election on May 5

Prime Minister Tony Blair confirmed on Tuesday the worst-kept secret in British politics - that an election will be held on May 5 - as opinion polls suggested a closer contest than any since 1992. Blair confirmed the date after visiting Queen Elizabeth as
Published 06 Apr, 2005 12:00am
Sudanese march against UN resolution

Sudanese march against UN resolution

Tens of thousands of Sudanese marched through the capital Khartoum on Tuesday in response to the government's campaign against a UN resolution referring war crime suspects to the International Criminal Court. Chanting slogans denouncing the United Nations
Published 06 Apr, 2005 12:00am
Iran and EU make progress on nuclear deal

Iran and EU make progress on nuclear deal

Iran and European powers have made progress in talks on ensuring Tehran's nuclear programme cannot be used for weapons, President Mohammad Khatami said on Tuesday."I think we have taken steps forward," Khatami told reporters after talks with French Presid
Published 06 Apr, 2005 12:00am
Japan approves revised 'nationalist' textbook

Japan approves revised 'nationalist' textbook

Japan's Ministry of Education approved a new edition of a school textbook on Tuesday that critics say whitewashes Japan's militaristic past, drawing protests from China and South Korea and further fraying already tense ties with the two Asian neighbours.
Published 06 Apr, 2005 12:00am
Faithful pay last respects to Pope

Faithful pay last respects to Pope

A swelling tide of faithful flowed past Pope John Paul's body on Tuesday in an outpouring of affection to repay the Polish Pontiff who reached out to millions during his 26-year papacy. As hundreds of thousands of ordinary people queued for hours to pay h
Published 06 Apr, 2005 12:00am
China arms ban: US gives EU blunt warning

China arms ban: US gives EU blunt warning

The United States gave the European Union a blunt warning on Tuesday against lifting a ban on selling arms to China, saying it should expect a reaction from Washington if it went ahead. US Deputy Secretary of State Robert Zoellick said the 25-member bloc
Published 06 Apr, 2005 12:00am
Israel reassures US on West Bank settlement plan

Israel reassures US on West Bank settlement plan

Israel has assured Washington that no construction is imminent under a plan to expand the largest Jewish settlement in the West Bank and connect it to Jerusalem, Israeli government sources said on Tuesday "There are no plans to invite construction bids in
Published 06 Apr, 2005 12:00am
UNDP slams undemocratic rule in Arab nations

UNDP slams undemocratic rule in Arab nations

Undemocratic governments that dominate the Arab world must change their ways swiftly, or face either disastrous internal conflict or reforms imposed by outside powers, a UN report warned Tuesday. The highly critical report by the UN Development Programme
Published 06 Apr, 2005 12:00am
Sterling hits six-month high versus euro

Sterling hits six-month high versus euro

Sterling hit a six-month high against the euro on Tuesday, boosted by a fall in Europe's single currency as well as by economic data showing a rise in British house prices and a strong service sector. Data from the Halifax, the nation's largest mortgage l
Published 06 Apr, 2005 12:00am
Dollar clocks new highs

Dollar clocks new highs

The dollar struck new five-month and two-month highs against the yen and euro on Tuesday, on expectations that the US Federal Reserve could raise interest rates more aggressively to ward off inflation. Federal Reserve Chairman Alan Greenspan is due to spe
Published 06 Apr, 2005 12:00am
Philippines shares close lower

Philippines shares close lower

Philippines share prices closed 1.59 percent lower on Tuesday as investors cashed in on gains after a four-day uptick, dealers said. Most foreign investors were away from the market here since several Asian bourses were closed for a public holiday. Those
Published 06 Apr, 2005 12:00am
US Stocks: Tuesday's unofficial close

US Stocks: Tuesday's unofficial close

US stocks advanced on Tuesday, helped by a dip in oil prices and Pfizer Inc, the world's largest drug maker, which rose after a forecast of aggressive cost cuts and double-digit profit growth. Pfizer also forecast 2005 earnings at the low end of Wall Stre
Published 06 Apr, 2005 12:00am
Oil and stocks boost bond market sentiment

Oil and stocks boost bond market sentiment

Falling oil prices and calmer equity markets helped boost sentiment in the European corporate bond market on Tuesday, reversing some of the losses seen in the turbulent start to the week. "Today is a reflection of the massive overreaction and widening fro
Published 06 Apr, 2005 12:00am
Oil and stocks boost bond market sentiment

Oil and stocks boost bond market sentiment

Falling oil prices and calmer equity markets helped boost sentiment in the European corporate bond market on Tuesday, reversing some of the losses seen in the turbulent start to the week. "Today is a reflection of the massive overreaction and widening fro
Published 06 Apr, 2005 12:00am
UK's top share index closes higher

UK's top share index closes higher

Britain's blue chip shares closed higher on Tuesday led by a surge in Allied Domecq after confirmation of long-running speculation that France's Pernod Ricard was interested in bidding for the maker of Ballantine's whisky. Allied shares spiked up 18 perce
Published 06 Apr, 2005 12:00am
Malaysia to fund palm oil production in Sierra Leone

Malaysia to fund palm oil production in Sierra Leone

Malaysia's government and the Islamic Development Bank will fund the development of Sierra Leone's oil palm industry to the tune of 2.5 million dollars (1.9 million euros), the Sierra Leone government said Tuesday. Sierra Leone's Agriculture and Food Secu
Published 06 Apr, 2005 12:00am
Australia still chasing China and Asian wheat sales

Australia still chasing China and Asian wheat sales

Australia was focused on winning further big export sales to China and expanding its market share in Asia, monopoly wheat exporter AWB Ltd said on Tuesday. China remained a big opportunity after the sale of 2.5 million tonnes of Australian wheat in the ye
Published 06 Apr, 2005 12:00am
Oil prices fall from record peaks

Oil prices fall from record peaks

Oil prices fell from record peaks on Tuesday as predictions of rising crude stockpiles in the United States countered worries over strong global demand growth. US light crude fell 97 cents to $56.04 per barrel from Monday's $58.28 all-time high. London's
Published 06 Apr, 2005 12:00am
More EU sugar seen heading into intervention store

More EU sugar seen heading into intervention store

Europe can expect to see more sugar offered into intervention storage over the next few months as the EU's safety-net system becomes a last-resort refuge from low prices resulting from oversupply, officials said on Tuesday. Quantities of EU sugar offered
Published 06 Apr, 2005 12:00am
New York cotton settles easier

New York cotton settles easier

Cotton futures finished with light losses Tuesday on sales by small speculators in subdued trade, with dealings dominated by switch trade ahead of delivery period later in the month, brokers said. The New York Board of Trade's key May contract fell 0.55 c
Published 06 Apr, 2005 12:00am
London cocoa down

London cocoa down

London cocoa futures fell by around three percent on Tuesday on mainly structural trade and producer selling, against the background of a weakening New York market, dealers said. News from Pretoria that talks among Ivory Coast factions seeking to revive a
Published 06 Apr, 2005 12:00am
Copper off lows, seen in limbo

Copper off lows, seen in limbo

Copper finished softer but off its lows on Tuesday on the London Metal Exchange (LME), attracting buying as the dollar softened, but analysts said the market was still treading water. Dealers were unsure which way powerful investment funds would choose to
Published 06 Apr, 2005 12:00am
European gold edges up on currencies, outlook shaky

European gold edges up on currencies, outlook shaky

Gold prices edged up on Tuesday afternoon on light, currency-induced short covering, dealers said, but near-term sentiment stayed bearish with expectations for higher US interest rates seen boosting the dollar. Spot gold firmed to $424.10/424.80 by 1453 G
Published 06 Apr, 2005 12:00am
US MIDDAY: coffee futures rally on fresh orders

US MIDDAY: coffee futures rally on fresh orders

Arabica coffee futures finished with sharp gains on Tuesday when a quick rally at the end of the day pushed prices up in a vacuum, traders said. "It rallied sharply in a vacuum of orders in the last five or 10 minutes of the day. It's a function of how th
Published 06 Apr, 2005 12:00am
US MIDDAY: cocoa lower by fund roll-out

US MIDDAY: cocoa lower by fund roll-out

US cocoa futures settled Tuesday at an eight-week low, depressed by fund roll-out of the front-month May contract ahead of its first notice day, about two weeks away, brokers said. The benchmark May cocoa contract at the New York Board of Trade ended at $
Published 06 Apr, 2005 12:00am
US MIDDAY: sugar rebounds on trade and speculative buying

US MIDDAY: sugar rebounds on trade and speculative buying

Raw sugar futures banked on trade and speculative buying to finish higher Tuesday as sugar rebounded from its fall to a five-month low, and further interest should boost the sweetener, analysts said. The New York Board of Trade's May raw sugar contract in
Published 06 Apr, 2005 12:00am
US MIDDAY: corn weak on lack of fresh news

US MIDDAY: corn weak on lack of fresh news

Chicago Board of Trade corn futures continued to grind lower on Tuesday amid a lack of fresh news and continued pressure from a record large supply of feed grains globally, traders said. Also bearish were outlooks for another huge US corn crop after the 2
Published 06 Apr, 2005 12:00am
US MIDDAY: wheat mixed in choppy trade

US MIDDAY: wheat mixed in choppy trade

Wheat futures at the Chicago Board of Trade were narrowly mixed in choppy trade early on Tuesday amid pressure from bearish exports, traders said. Overall good crop weather and a big global supply of wheat also continues to keep aggressive buying interest
Published 06 Apr, 2005 12:00am
US MIDDAY: copper falls on some profit-taking

US MIDDAY: copper falls on some profit-taking

US copper futures fell sharply at the start on Tuesday when the dollar struck a two-month high against the euro, but then pared some losses when buyers came in at the lows, traders said. "The selling is dollar-related. There's been some profit-taking by t
Published 06 Apr, 2005 12:00am
US MIDDAY: soyabeans turn up on tight supply

US MIDDAY: soyabeans turn up on tight supply

Chicago Board of Trade soyabean futures turned higher by Tuesday's midsession, following the strength in soyameal, traders said. May soyabeans were up 6 cents at $6.21 per bushel by 11:18 am CDT (1618 GMT), after climbing 8 cents to $6.23. The deferreds w
Published 06 Apr, 2005 12:00am
US MIDDAY: gold higher on light mixed buying

US MIDDAY: gold higher on light mixed buying

US gold futures bounced from prior seven-week lows early Tuesday on light mixed buying as the euro recovered from a two-month low versus the dollar, dealers said. Silver climbed and held back above $7 an ounce, moving tick-for-tick with the euro in modest
Published 06 Apr, 2005 12:00am
Efforts afoot to ensure 100 percent access to DOT: NWFP governor

Efforts afoot to ensure 100 percent access to DOT: NWFP governor

NWFP governor Khalilur Rehman has said the government has embarked upon a crash programme to combat tuberculoses and efforts are underway to ensure 100 percent access of the people to directly observed treatment (DOT). Short course coverage is the clear d
Published 06 Apr, 2005 12:00am
Justice Sabih sworn in as SHC chief justice

Justice Sabih sworn in as SHC chief justice

Justice Sabihuddin Ahmed was administered oath as Chief Justice of Sindh High Court on Tuesday at an impressive ceremony at Governor House. Sindh Governor Dr Ishrat-ul-Ebad Khan administered the oath. Justice Sabihuddin Ahmed replaces Justice Syed Saeed A
Published 06 Apr, 2005 12:00am
Literary sitting on April 8

Literary sitting on April 8

A literary sitting will be organised under the auspices of the Institute of Ethics and Culture on April 8 at the Mumtaz Mirza Studio. Additional Chief Secretary Sindh, Syed Anwar Haider will preside over the meeting while Vice Chancellor Mohammad Ali Jinn
Published 06 Apr, 2005 12:00am
New system to render 2,258 income tax staff surplus

New system to render 2,258 income tax staff surplus

Over 2,250 employees, mostly lower grade staff would become surplus with the conversion of the Regional Commissioner of Income Tax (RCIT), Southern Region, into a Regional Tax Office (RTO), employees sources said here on Tuesday. There are about 3,000 emp
Published 06 Apr, 2005 12:00am
Division of Hyderabad districts to give mileage to MQM versus Makhdooms

Division of Hyderabad districts to give mileage to MQM versus Makhdooms

The division of former District of Hyderabad into four districts--Tando Mohammed Khan, Tando Allahyar, Matiari-Hala, and Hyderabad itself--will give political mileage to Muttahida Qaumi Movement (MQM) and curtail the political clout of the 'Makhdooms' of
Published 06 Apr, 2005 12:00am
New PHC chief justice takes oath

New PHC chief justice takes oath

Justice Tariq Pervaiz took oath as Chief Justice of the Peshawar High Court at a simple but impressive ceremony held at the Governor House here on Tuesday. NWFP governor Khalilur Rehman administered the oath to the new Chief Justice. Chief Minister Akram
Published 06 Apr, 2005 12:00am
MCC to invest $50 million in Duddar Lead Zinc project

MCC to invest $50 million in Duddar Lead Zinc project

The China Metallurgical Construction (MCC) Group President Shen Heting, currently on a visit to Pakistan heading a six-member delegation, called on the Federal Minister for Petroleum and Natural Resources Amanullah Khan Jadoon here on Tuesday. He briefed
Published 06 Apr, 2005 12:00am
Cement demand slower in third quarter due to heavy rain, snowfall

Cement demand slower in third quarter due to heavy rain, snowfall

Demand for cement sharply contracted during the third quarter of the current financial year, ended March 31, owing to widespread unprecedented rains all over the country, severe winter snowfall in the Northern Areas and slow down of development activities
Published 06 Apr, 2005 12:00am
Islam's grip on southern Kyrgyzstan rattles authorities

Islam's grip on southern Kyrgyzstan rattles authorities

A year ago, 44-year-old Avas Attokurov was drifting, drunk and without a job, constantly fighting with his family in this tiny, impoverished village on the slopes of the Pamir mountain range in Kyrgyzstan. But then, at the urging of a neighbour steeped in
Published 06 Apr, 2005 12:00am
SECP committed to promoting investor confidence

SECP committed to promoting investor confidence

Following is the statement made by Dr Tariq Hassan, Chairman, Securities and Exchange Commission of Pakistan, before the Public Accounts Committee on April 2, 2005, on the recent crisis in the stock exchanges and the measures taken by the authorities: I h
Published 06 Apr, 2005 12:00am
Friendship series

Friendship series

I congratulate the cricket team on its splendid victory against India in Bangalore. Every member of the squad was committed to win this test to level the series. This victory has proved that defeating India on their soil is not a difficult task. I also co
Published 06 Apr, 2005 12:00am
State Life pensioners

State Life pensioners

The Prime Minister of Pakistan, then Finance Minister at the time of presenting the annual budget for 2004-2005 had announced enhancement of pension to provide relief to the pensioners, but regretfully I would like to draw the attention of Prime Minister
Published 06 Apr, 2005 12:00am
Friends not partners

Friends not partners

Pakistan is a friend of the US, not its strategic partner; India is. Friends are usually accommodating and are content with what is given to them, partners are demanding. This is what is happening in the Pakistan-India context. As we rejoice the offer of
Published 06 Apr, 2005 12:00am
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