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May 23, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2005-05-10
Euronext delays September 2006 wheat contract

Euronext delays September 2006 wheat contract

Euronext.liffe will delay the launch of the September 2006 wheat futures contract in order to implement new European Union food safety standards, a spokeswoman for the exchange said on Monday. Euronext.liffe, part of pan-European bourse operator Euronext,
Published 10 May, 2005 12:00am
Fixation of oil prices on daily basis opposed

Fixation of oil prices on daily basis opposed

The petroleum ministry has opposed senate panel's formula to determine oil prices on daily basis, terming it impracticable and unfeasible. The ministry counted two reasons in support of its case: non-existence of an effective regulatory mechanism and lack
Published 10 May, 2005 12:00am
Brazil's centre-south sugarcane crop seen dry

Brazil's centre-south sugarcane crop seen dry

Brazil's main centre-south sugarcane crop, which began harvesting in late March, will be dry through May 19, after receiving normal to above normal rainfall in April, meteorologists Somar said on Monday. "There could be some very light, isolated showers t
Published 10 May, 2005 12:00am
Fixation of oil prices on daily basis opposed

Fixation of oil prices on daily basis opposed

The petroleum ministry has opposed senate panel's formula to determine oil prices on daily basis, terming it impracticable and unfeasible. The ministry counted two reasons in support of its case: non-existence of an effective regulatory mechanism and lack
Published 10 May, 2005 12:00am
CIF Gulf corn and wheat steady; soyabean firm

CIF Gulf corn and wheat steady; soyabean firm

US CIF Gulf corn basis values were steady on Monday, while soyabeans were firm amid slow grain movement as farmers seeded their corn crop, traders said. Barge freight was steady after posting gains last week amid tight supplies of empty vessels, and a pic
Published 10 May, 2005 12:00am
Higher steel prices hit auto sector profits

Higher steel prices hit auto sector profits

The auto sector profits in the nine months (July-March) declined by 8 percent compared with same period of last year because of higher steel prices and depreciation of rupee against yen, despite healthy growth of 35 percent in sales, analysts said. Farhan
Published 10 May, 2005 12:00am
London cocoa inches up in two-week price band

London cocoa inches up in two-week price band

London cocoa prices posted moderate gains on Monday but kept within a two-week range after a session focused mainly on structural dealings, traders said. Liffe July closed five pounds stronger at 822 pounds a tonne on volume of 17,014 lots. Total turnover
Published 10 May, 2005 12:00am
Higher steel prices hit auto sector profits

Higher steel prices hit auto sector profits

The auto sector profits in the nine months (July-March) declined by 8 percent compared with same period of last year because of higher steel prices and depreciation of rupee against yen, despite healthy growth of 35 percent in sales, analysts said. Farhan
Published 10 May, 2005 12:00am
More Americans seen lapping up Fair Trade coffee

More Americans seen lapping up Fair Trade coffee

US demand for certified Fair Trade coffee could quadruple by the end of the decade, as more roasters and retailers join the socially conscious consumption trend that gives small-scale farmers access to world markets. US imports of Fair Trade coffee, which
Published 10 May, 2005 12:00am
Higher steel prices hit auto sector profits

Higher steel prices hit auto sector profits

The auto sector profits in the nine months (July-March) declined by 8 percent compared with same period of last year because of higher steel prices and depreciation of rupee against yen, despite healthy growth of 35 percent in sales, analysts said. Farhan
Published 10 May, 2005 12:00am
Russian weekly grain market report

Russian weekly grain market report

Russian grain markets lacked lustre in the week between holidays with most cereal prices declining by just 20-50 roubles per tonne on average. Only sunseed prices strengthened after a period of stability, traders said. Third class wheat prices eased insig
Published 10 May, 2005 12:00am
Top 100 companies tax profiles to be verified

Top 100 companies tax profiles to be verified

The Central Board of Revenue (CBR) has decided to examine the tax profiles of 100 top companies, encompassing manufacturers and importers, to verify the authenticity of their ''exemption certificates'', issued by Regional Commissioners of Income Tax (RCIT
Published 10 May, 2005 12:00am
Japan seen buying wheat for Jordan

Japan seen buying wheat for Jordan

The Japanese government is expected to issue a tender to purchase about 100,000 tonnes of hard wheat as an aid donation to Jordan in the first week of June, traders said on Monday. The tender was part of a $40 million development aid donation under which
Published 10 May, 2005 12:00am
Top 100 companies tax profiles to be verified

Top 100 companies tax profiles to be verified

The Central Board of Revenue (CBR) has decided to examine the tax profiles of 100 top companies, encompassing manufacturers and importers, to verify the authenticity of their 'exemption certificates', issued by Regional Commissioners of Income Tax (RCITs)
Published 10 May, 2005 12:00am
HRW wheat bids unchanged, weather dry

HRW wheat bids unchanged, weather dry

US Plains spot hard red winter wheat basis bids were unchanged on Monday morning with business quiet ahead of harvest, merchandisers said. Mills were mostly well-stocked and producers were mostly sold out of old-crop supplies, leaving the market focused o
Published 10 May, 2005 12:00am
Top 100 companies tax profiles to be verified

Top 100 companies tax profiles to be verified

The Central Board of Revenue (CBR) has decided to examine the tax profiles of 100 top companies, encompassing manufacturers and importers, to verify the authenticity of their 'exemption certificates', issued by Regional Commissioners of Income Tax (RCITs)
Published 10 May, 2005 12:00am
US Midwest corn firm, soya mixed

US Midwest corn firm, soya mixed

Basis bids for corn were mostly steady to firm in the US Midwest interior early on Monday while soyabean bids were steady to mixed, with quiet sales supporting the basis for both commodities, merchandisers said. Soy processor bids held steady at most loca
Published 10 May, 2005 12:00am
China restricts iron ore imports to 118 firms

China restricts iron ore imports to 118 firms

China is giving just 118 steel mills and firms permits to import iron ore in a bid to quell speculation in the fastest-growing major economy and home to the world's largest steel industry, officials said on Monday. China has taken a series of measures to
Published 10 May, 2005 12:00am
Brazil's soya crop 51 percent sold

Brazil's soya crop 51 percent sold

Producers have sold 51 percent of Brazil's 2004/05 soyabean crop by May 6, down from the 61 percent of the crop sold by this week in 2004, analysts Safras e Mercado said on Friday. Brazilian soya producers have on average sold 55 percent of their crop by
Published 10 May, 2005 12:00am
Shanghai copper futures jump

Shanghai copper futures jump

Shanghai copper futures jumped on Monday in their first trading session after a week-long market break, buoyed by persistently tight domestic spot supply. Most-active July ended at 32,380 yuan ($3,912) a tonne, up 290 yuan from April 29, the final session
Published 10 May, 2005 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 75,316 tonnes of cargo including 67,869 tonnes import and 7,447 tonnes export cargo including 618 containers during last 24 hours ending at 0700 hours on Monday. The cargo comprised of 27,176 tonnes dry cargo including 13,765 tonn
Published 10 May, 2005 12:00am
Al Qaeda suspects planned attacks in Saudi Arabia: Yemen

Al Qaeda suspects planned attacks in Saudi Arabia: Yemen

Eight al Qaeda suspects on trial in Yemen had also planned to attack Americans in Saudi Arabia, state prosecutors told a court on Monday. The group, on trial since March, were initially accused of having links to al Qaeda and planning to blow up the Briti
Published 10 May, 2005 12:00am
Group urges political parties in Kuwait

Group urges political parties in Kuwait

A new Kuwaiti conservative group said on Monday it had asked parliament to draft a law allowing political parties in the conservative Gulf Arab state. State security summoned leaders of the Umma Party for interrogation last week, saying they were "trying
Published 10 May, 2005 12:00am
Italy arrests judge and 15 others in anti-Mafia swoop

Italy arrests judge and 15 others in anti-Mafia swoop

Italy's anti-Mafia police arrested 16 people, including a judge and a deputy police chief, in a nation-wide sweep on Monday taking aim at corruption and Cosa Nostra money laundering activities. Among those involved in the operation were magistrate Giusepp
Published 10 May, 2005 12:00am
Canada Conservatives target Liberals

Canada Conservatives target Liberals

Despite a softening in their polling numbers, Canada's opposition Conservatives said on Monday they were still eager to take down the minority Liberal government at the earliest opportunity. "We want to see an election now - N-O-W - as soon as possible,"
Published 10 May, 2005 12:00am
Rafsanjani keeps Iran guessing on presidential bid

Rafsanjani keeps Iran guessing on presidential bid

Former President Akbar Hashemi Rafsanjani kept Iran guessing on Monday about whether he would stand in next month's presidential elections, a vote polls indicate he would probably win. Official registration of candidates for the June 17 vote, which diplom
Published 10 May, 2005 12:00am
Vatican Radio bosses jailed

Vatican Radio bosses jailed

The president and director-general of Vatican Radio, the official broadcast voice of the Roman Catholic Church, have been given 10-day prison sentences because their transmitters give out too much interference, court officials said Monday. Last November a
Published 10 May, 2005 12:00am
China experiments with police interrogation videos

China experiments with police interrogation videos

China, where dramatic miscarriages of justice have made recent headlines, is launching a pilot project allowing the interrogation of criminal suspects in front of video cameras and lawyers, state media said on Monday. Three county-level public security bu
Published 10 May, 2005 12:00am
Food, not votes, concern Ethiopia's hungry

Food, not votes, concern Ethiopia's hungry

Ethiopia's elections are the furthest thing from Bisharo Sultan's mind. As politicians wrangle over privatisation, land reform and the constitution hundreds of kilometres away in the capital Addis Ababa before polls on Sunday, Bisharo wonders how she will
Published 10 May, 2005 12:00am
Pizza delivery ends Australian prison siege

Pizza delivery ends Australian prison siege

An Australian prison siege ended on Monday after a group of inmates agreed to release a guard they had held for two days in return for a delivery of pizzas, prison officials said. A group of up to 20 inmates seized control of the reception area of the max
Published 10 May, 2005 12:00am
US to press Nepal on democracy during Rocca visit

US to press Nepal on democracy during Rocca visit

US Assistant Secretary of State for South Asia, Christina Rocca, arrived in Nepal on Monday and was expected to push King Gyanendra to allow the country an early return to democracy. During her three-day trip to the restive Himalayan kingdom she will meet
Published 10 May, 2005 12:00am
Ship crushes South Africa trawler, 14 missing

Ship crushes South Africa trawler, 14 missing

Fourteen South African fishermen are missing after their trawler was run down by a refrigeration cargo ship off the Eastern Cape, leaving only two survivors, an official said on Monday. A torrent of water swept skipper Paul Landers from the wheelhouse thr
Published 10 May, 2005 12:00am
Middle East quartet says next months key to peace

Middle East quartet says next months key to peace

Both sides in the Middle East conflict must build in the next few months on the momentum from Israel's withdrawal plans and Palestinian reforms if they are to achieve peace, international mediators said on Monday. Officials of the "quartet" - the United N
Published 10 May, 2005 12:00am
'Amnesty available for Omar and Hekmatyar'

'Amnesty available for Omar and Hekmatyar'

Afghanistan's reconciliation commission said Monday that wanted former Taleban leader Mullah Mohammed Omar and warlord Gulbuddin Hekmatyar could be offered an amnesty and allowed to enter politics. Sibghatullah Mojaddedi, the head of the Independent Natio
Published 10 May, 2005 12:00am
Siemens to improve Mumbai train service

Siemens to improve Mumbai train service

German engineering company Siemens AG has won a 200 million dollar contract to improve the crowded commuter train service in India's financial capital Bombay, the company said Monday. Under the contract from state-owned Indian Railways, Siemens Transporta
Published 10 May, 2005 12:00am
S&P buys majority of Indian rating agency CRISIL

S&P buys majority of Indian rating agency CRISIL

Standard & Poor's has taken a majority stake in India's top rating agency CRISIL Ltd, raising its presence in a fast-growing market with plans to make use of the country's cost-effective research capabilities. S&P, the world's largest credit rating agency
Published 10 May, 2005 12:00am
S&P buys majority of Indian rating agency CRISIL

S&P buys majority of Indian rating agency CRISIL

Standard & Poor's has taken a majority stake in India's top rating agency CRISIL Ltd, raising its presence in a fast-growing market with plans to make use of the country's cost-effective research capabilities. S&P, the world's largest credit rating agency
Published 10 May, 2005 12:00am
China should move now on yuan: Snow

China should move now on yuan: Snow

US Treasury Secretary John Snow, speaking on Monday as a Chinese delegation visited the US Treasury for talks on currency and other issues, said Beijing should act now loosen its fixed currency regime. The US Treasury chief was responding to reporters' qu
Published 10 May, 2005 12:00am
UK factory output down in March

UK factory output down in March

British manufacturing output unexpectedly fell at its fastest rate in nearly three years in March, suggesting there was almost no chance the Bank of England would hike interest rates later on Monday. The Office for National Statistics said manufacturing p
Published 10 May, 2005 12:00am
Emerging nations drive world growth: G10

Emerging nations drive world growth: G10

Booming emerging markets such as China are driving strong global economic growth although surging oil costs pose a risk to the outlook, central bankers from rich and developing countries said on Monday. The global economy is expected to grow around 4 perc
Published 10 May, 2005 12:00am
South Korea fines telecoms firms

South Korea fines telecoms firms

South Korea said on Monday it fined three telecoms firms, including top mobile carrier SK Telecom Co, a combined 26.9 billion won ($26.85 million) for unfairly subsidising mobile phone costs for new subscribers. The information ministry is concerned that
Published 10 May, 2005 12:00am
Barclays returns to South Africa in $5.5 billion deal

Barclays returns to South Africa in $5.5 billion deal

Britain's Barclays agreed a $5.5 billion deal for control of lender Absa on Monday, marking its return to South African retail banking and the biggest direct foreign investment in the country. The UK bank's long-awaited announcement is a major vote of con
Published 10 May, 2005 12:00am
EADS gets sharp Airbus profit boost

EADS gets sharp Airbus profit boost

Aerospace group EADS more than trebled its operating profit in the first quarter to 657 million euros ($851 million), well above market forecasts and swept higher by Airbus, the world's biggest passenger jetmaker. Net profit at Europe's largest industrial
Published 10 May, 2005 12:00am
EADS gets sharp Airbus profit boost

EADS gets sharp Airbus profit boost

Aerospace group EADS more than trebled its operating profit in the first quarter to 657 million euros ($851 million), well above market forecasts and swept higher by Airbus, the world's biggest passenger jetmaker. Net profit at Europe's largest industrial
Published 10 May, 2005 12:00am
US wholesale inventories rise

US wholesale inventories rise

Inventories at US wholesalers rose a smaller-than-expected 0.4 percent in March, government data showed on Monday, as stockpiles of cars and computers declined while petroleum stocks advanced sharply. Wall Street analysts had predicted a 0.8 percent incre
Published 10 May, 2005 12:00am
McDonald's April sales at high end of estimates

McDonald's April sales at high end of estimates

McDonald's Corp on Monday said sales at its hamburger restaurants open at least 13 months rose 2.8 percent in April, meeting the high end of expectations, as strong breakfast sales in the United States offset weakness in Europe. Same-store sales, a key re
Published 10 May, 2005 12:00am
Cold weather drags down German industrial output

Cold weather drags down German industrial output

German industrial production fell more than expected in March as cold weather stung construction output, dragging down the overall figure and hardening scepticism about the outlook for the second quarter. Industrial production fell by a seasonally-adjuste
Published 10 May, 2005 12:00am
Russia has chance to join WTO in 2006

Russia has chance to join WTO in 2006

Russia has a window of opportunity in the next few months to secure entry to the World Trade Organisation (WTO) but government co-ordination must improve to achieve this goal, EU Trade Commissioner Peter Mandelson said. Mandelson told a news conference on
Published 10 May, 2005 12:00am
Manila approves hike in transport fares

Manila approves hike in transport fares

The Philippine government said on Monday it allowed a 33 to 36 percent rise in public transport fares in Manila, putting more pressure on residents of the capital feeling the pinch of higher food, power and fuel costs. The fare hike will take effect on Ma
Published 10 May, 2005 12:00am
BoE leaves interest rates on hold as economy slows

BoE leaves interest rates on hold as economy slows

The Bank of England left interest rates on hold for a ninth month on Monday as evidence builds that the economy is slowing fast - so much so that a number of analysts predict a rate cut by the end of the year. Data just before the decision showed manufact
Published 10 May, 2005 12:00am
Vietnam sets rules for Hanoi bourse OTC market

Vietnam sets rules for Hanoi bourse OTC market

The Hanoi Stock Exchange announced relaxed listing requirements on Monday for its over-the-counter (OTC) market, but low investor interest and resistance from state firms to open their books could delay the expected opening next month. Up to seven firms w
Published 10 May, 2005 12:00am
Malaysian shares end flat

Malaysian shares end flat

Malaysian share prices closed flat on Monday, with a downward trend reversed by last minute support for blue chips, dealers said. They said the market was weaker for most of the day but last minute buying of selected blue chips pushed the 100-stock compos
Published 10 May, 2005 12:00am
Jakarta shares close 1.12 percent higher

Jakarta shares close 1.12 percent higher

Indonesian share prices closed 1.12 percent higher on Monday, led by index heavyweight Telkom on hopes that the company's foreign debt burden will ease if the rupiah sustains its recent recovery, dealers said. The Jakarta Stock Exchange composite index cl
Published 10 May, 2005 12:00am
Hong Kong shares soar, led by select blue chips

Hong Kong shares soar, led by select blue chips

Hong Kong share prices closed 0.36 percent higher on Monday as select blue chips attracted buying interest in relatively thin trade after the market found no lead in Wall Street's muted reaction to stronger-than-expected US jobs data, dealers said. The ke
Published 10 May, 2005 12:00am
Thai shares edge lower

Thai shares edge lower

Thai share prices closed 0.17 percent lower on Monday on profit-taking in large-caps amid concerns that a strong US economy will see both inflation and interest rates move higher, dealers said. The Stock Exchange of Thailand (SET) composite index closed d
Published 10 May, 2005 12:00am
Indian stocks close higher

Indian stocks close higher

Indian share prices closed 1.45 percent higher led by Infosys Technologies ahead of the start of a new sale of its American Depository Shares on the Nasdaq market Monday, dealers said. The Bombay Stock Exchange's 30-share Sensex index rose 92.87 points to
Published 10 May, 2005 12:00am
Singapore shares slightly up

Singapore shares slightly up

Singapore share prices closed 0.23 percent higher on Monday with local technology stocks boosted by positive guidance from US chip giant Intel, dealers said. The Straits Times index rose 5.07 points to 2,166.29. Volume totalled 715 million shares worth 70
Published 10 May, 2005 12:00am
Philippines shares finish 1.72 percent firmer

Philippines shares finish 1.72 percent firmer

Philippines share prices rose 1.72 percent to their highest level in a month on Monday, extending recent solid gains on strong corporate results and hopes Congress will finally pass a long-delayed value-added tax (VAT) bill, dealers said. The Philippine S
Published 10 May, 2005 12:00am
Taiwan stocks end flat, foreign funds lift techs

Taiwan stocks end flat, foreign funds lift techs

Taiwan stocks ended little changed on Monday, with big tech shares like TSMC reversing early losses on recent foreign buying while industrials were hit by lowered expectations of trade concessions from China. The TAIEX share index finished with a slim los
Published 10 May, 2005 12:00am
Chinese stocks dive to six-year low

Chinese stocks dive to six-year low

China's shares dived 2.4 percent on Monday, setting yet another six-year closing low, as investors fled the market after Beijing launched a second attempt to sell some $300 billion in non-traded state-owned shares. The benchmark Shanghai composite index f
Published 10 May, 2005 12:00am
Infosys ADR offer, worth up to $1 billion, set to open

Infosys ADR offer, worth up to $1 billion, set to open

Infosys Technologies Ltd, India's second-biggest software services exporter, said its offer of American Depositary Receipts (ADRs) against existing local shares would open on Monday. The company said it will convert up to 16 million shares or 6 percent of
Published 10 May, 2005 12:00am
Infosys ADR offer, worth up to $1 billion, set to open

Infosys ADR offer, worth up to $1 billion, set to open

Infosys Technologies Ltd, India's second-biggest software services exporter, said its offer of American Depositary Receipts (ADRs) against existing local shares would open on Monday. The company said it will convert up to 16 million shares or 6 percent of
Published 10 May, 2005 12:00am
Philippines to sell bonds worth up to $750 million

Philippines to sell bonds worth up to $750 million

The Philippines, struggling to plug a budget shortfall, said on Monday it will sell $500 million to $750 million of fresh debt by reopening existing 2015 and 2030 bonds. The will be the second time the Philippines has come to the international bond market
Published 10 May, 2005 12:00am
Philippines to sell bonds worth up to $750 million

Philippines to sell bonds worth up to $750 million

The Philippines, struggling to plug a budget shortfall, said on Monday it will sell $500 million to $750 million of fresh debt by reopening existing 2015 and 2030 bonds. The will be the second time the Philippines has come to the international bond market
Published 10 May, 2005 12:00am
Nikkei declines as profit-taking hits blue chips

Nikkei declines as profit-taking hits blue chips

Japan's Nikkei share average slipped 0.2 percent on Monday as investors took profits on blue chip companies like Honda Motor Co following a rally in the previous session, but buying in small-cap shares limited losses. A US interest rate rise last week als
Published 10 May, 2005 12:00am
Indian rupee eases on dollar's rise

Indian rupee eases on dollar's rise

The rupee recouped early losses but still finished weaker on Monday as the dollar hit a three-week high against the euro after last week's surprising strong US jobs report eased concerns of slowing US growth. But a rally in the local stock market and grow
Published 10 May, 2005 12:00am
Australian dollar softens

Australian dollar softens

The Australian dollar remained trapped below 76.50 US cents on Monday as news of deteriorating business conditions compounded the currency's weakness in the wake of stronger-than-expected US jobs data. The Aussie was $0.7730/33, off a low of $0.7726, but
Published 10 May, 2005 12:00am
Dollar builds on gains after big US jobs rise

Dollar builds on gains after big US jobs rise

The dollar extended gains on Monday after data late last week showing surprisingly big US job growth eased worries about the economy and fuelled expectations the Federal Reserve would keep raising interest rates. Helping support the dollar as well was Chi
Published 10 May, 2005 12:00am
Asian currencies weaker on US data, eyes also on North Korea

Asian currencies weaker on US data, eyes also on North Korea

Asian currencies fell on Monday as strong US job market data lifted the dollar, while worries about the North Korean nuclear crisis emerged again as a drag on the South Korean won. Early won weakness was partly attributable to concerns North Korea may be
Published 10 May, 2005 12:00am
Sri Lanka plan to upstage India

Sri Lanka plan to upstage India

Sri Lanka's government-appointed cricket board is determined to defeat India in the race for a new national coach by naming their choice by the end of this week, a top official said on Monday. "We will have a new man before the week ends," Jayantha Dharma
Published 10 May, 2005 12:00am
ICC announces Rest of the World XI probables

ICC announces Rest of the World XI probables

The International Cricket Council (ICC) Monday announced the initial squads for the Rest of the World XI sides in the Super Series against Australia to be held later this year. The ICC World XI will take on world champions Australia in three one-dayers (O
Published 10 May, 2005 12:00am
Singh wins Wachovia Championship in playoff

Singh wins Wachovia Championship in playoff

Fiji's Vijay Singh ran down Sergio Garcia then outlasted Garcia and Jim Furyk in a three-way playoff, winning the 5.6 million-dollar Wachovia Championship on the fourth hole of sudden death here Sunday. Singh and Furyk had both erased a six-shot deficit i
Published 10 May, 2005 12:00am
South Africa win second one-dayer

South Africa win second one-dayer

South Africa won the second one-day international here on Sunday beating the West Indies by eight wickets to take a 2-0 lead in the five-match series. The third game is in Barbados on Wednesday.
Published 10 May, 2005 12:00am
Shoaib Malik cleared of suspected bowling action

Shoaib Malik cleared of suspected bowling action

Pakistan's promising off-spinning allrounder Shoaib Malik has been cleared of suspected bowling action, a Pakistan cricket official said Monday. "Malik went to the sports institute of South Africa last month and now we have received the report which says
Published 10 May, 2005 12:00am
Pakistan Sports Trust launched with initial capital of Rs 75 million

Pakistan Sports Trust launched with initial capital of Rs 75 million

The Pakistan Sports Trust (PST) with a commitment to the promotion of sports in the country was launched at a local hotel here on Monday. Lieutenant General Syed Arif Hassan, President of the Pakistan Olympic Association (POA) is the first chairman of the
Published 10 May, 2005 12:00am
UN to monitor UAE move to end child camel jockeys

UN to monitor UAE move to end child camel jockeys

A UN body said on Monday it would keep a close eye on efforts in the United Arab Emirates to rescue young boys forced to work as camel jockeys to ensure they did not simply get passed to other countries. Rights groups say several thousand boys, some as yo
Published 10 May, 2005 12:00am
Maoist rebels attack Indian mining major's unit

Maoist rebels attack Indian mining major's unit

About 200 Maoist rebels, some armed with AK-47s assault rifles, attacked a mining unit of India's largest aluminium and copper producer, shutting down its operations, a company official and police said on Monday. The raid took place on Saturday night at t
Published 10 May, 2005 12:00am
Crusade movie strikes chord in Arab world

Crusade movie strikes chord in Arab world

A new epic movie about the Crusades has struck a chord in the Arab world, where cinemagoers say it has challenged the Hollywood stereotype of Arabs and Muslims as terrorists. Ridley Scott's "Kingdom of Heaven", which depicts a 12th Century battle for Jeru
Published 10 May, 2005 12:00am
Taiwan poll to be barometer for Chen's China policy

Taiwan poll to be barometer for Chen's China policy

Taiwan voters will cast ballots this weekend to form a government body to approve legislation passed last year, but the poll is shaping up instead as a referendum on President Chen Shui-bian's China policy. The 300 members of the National Assembly who wil
Published 10 May, 2005 12:00am
Monsoon seen hitting Indian coast on schedule

Monsoon seen hitting Indian coast on schedule

India's annual monsoon, the lifeline of Asia's fourth-largest economy, is expected to hit the southern coast at its normal time in June with no indications so far of any delay, weather officials said on Monday. The June-September south-west monsoon is vit
Published 10 May, 2005 12:00am
Two Rwandans on trial in Brussels

Two Rwandans on trial in Brussels

Two Rwandan businessmen went on trial Monday before a Brussels criminal court for their alleged roles in the 1994 genocide in their country. The trial marks the second time that Belgium's so-called "universal competence" law has been invoked to bring susp
Published 10 May, 2005 12:00am
India to set up tsunami alert system by September 2007

India to set up tsunami alert system by September 2007

India, hit hard by Asia's tsunami last year, will have a warning system ready by September 2007 to protect its eastern and western coasts from killer waves, officials said on Monday. Over 9,200 people died in India and more than 3,000 are missing after th
Published 10 May, 2005 12:00am
Iran to resume enrichment-related work in days

Iran to resume enrichment-related work in days

Iran said on Monday it would resume uranium enrichment-related activities within days, a move the United States and the European Union have warned would see its nuclear case escalated to the UN Security Council. "We will lift the first stage of our suspen
Published 10 May, 2005 12:00am
Two US Marines and 23 rebels killed in Afghanistan

Two US Marines and 23 rebels killed in Afghanistan

Two US Marines and up to 23 militants were killed in a clash in eastern Afghanistan amid an upsurge in violence by suspected Taleban rebels which has claimed more than 100 lives in the past week. The deaths occurred after a group of Marines hunting milita
Published 10 May, 2005 12:00am
Blair rejects calls to quit, reshapes government

Blair rejects calls to quit, reshapes government

British Prime Minister Tony Blair rejected calls to resign on Monday as he reshuffled the ministerial pack after last week's election sharply weakened his Labour government. Blair won an unprecedented straight third term for the centre-left Labour party l
Published 10 May, 2005 12:00am
Afghan singer beaten to death in Canada

Afghan singer beaten to death in Canada

Afghan pop singer Nasrat Parsa died late Sunday after being attacked following a performance on his first Canadian tour, police said. "He was confronted by three males outside his hotel. They knew who he was, that he was a singer, but I don't know if ther
Published 10 May, 2005 12:00am
Sharon to postpone Gaza pullout by three weeks

Sharon to postpone Gaza pullout by three weeks

Prime Minister Ariel Sharon said on Monday he would postpone Israel's withdrawal from the Gaza Strip by three weeks, to mid-August, to avoid conflicting with a traditional Jewish period of mourning. With an Israeli-Palestinian cease-fire in place, US-led
Published 10 May, 2005 12:00am
Suharto in serious condition

Suharto in serious condition

Former Indonesian president Suharto is suffering from internal bleeding and breathing problems and must stay in hospital longer, a senior doctor said on Monday, putting his chances of full recovery at 50 percent. The 83-year-old former strongman was taken
Published 10 May, 2005 12:00am
Egypt to change constitution, Mubarak's place safe

Egypt to change constitution, Mubarak's place safe

Egyptian members of parliament have a once-in-a-lifetime chance to change the political landscape on Tuesday when they vote on a constitutional amendment opening presidential elections to more than one candidate. But when their task is done, President Hos
Published 10 May, 2005 12:00am
Germany and Japan to press on UNSC seats

Germany and Japan to press on UNSC seats

German Chancellor Gerhard Schroeder and Japanese Prime Minister Junichiro Koizumi met on Monday to pursue their campaign for permanent seats on the United Nations Security Council, the German government said. The two leaders met in Moscow on the sidelines
Published 10 May, 2005 12:00am
North Korea hints of return to stalled nuclear talks

North Korea hints of return to stalled nuclear talks

China and South Korea have called on North Korea to come back to stalled talks aimed at ending its nuclear programmes, while Pyongyang hinted on Monday it might be seeking a way to do just that. Chinese President Hu Jintao and South Korean President Roh M
Published 10 May, 2005 12:00am
ChevronTexaco changes name

ChevronTexaco changes name

US oil giant ChevronTexaco Corp said Monday that it is changing its name to Chevron Corp, effective immediately. The company said its ticker symbol, CVX, will stay the same. The San Ramon, California-based energy giant said that it has also redesigned its
Published 10 May, 2005 12:00am
Badawi hits at marginalisation of Muslim women

Badawi hits at marginalisation of Muslim women

Women in many Muslim countries continue to be marginalised and discriminated against, Malaysian Prime Minister Abdullah Ahmad Badawi told a conference of the Non-Aligned Movement Monday. Abdullah, who is current chairman of both NAM and the Organisation o
Published 10 May, 2005 12:00am
World leaders honour WWII sacrifices

World leaders honour WWII sacrifices

World leaders gathered in Moscow on Monday for a grandiose Red Square parade commemorating the defeat of Nazi Germany, as Russian President Vladimir Putin sought to unite the world against terrorism and soothe renewed East-West tensions. More than 50 head
Published 10 May, 2005 12:00am
Sterling tumbles across the board

Sterling tumbles across the board

Sterling tumbled across the board on Monday as news of a sharp fall in British manufacturing output fuelled speculation that the next move in Bank of England interest rates could be down. Manufacturing production fell by 1.6 percent in March, confounding
Published 10 May, 2005 12:00am
Dollar climbs versus euro and sterling

Dollar climbs versus euro and sterling

The dollar climbed to three-week highs against the euro and sterling on Monday on the back of last week's strong US jobs data, while the yen fell as China remained silent about its plans for the yuan. The employment figures calmed some concerns about the
Published 10 May, 2005 12:00am
Hong Kong dollar down

Hong Kong dollar down

The Hong Kong dollar slipped on Monday as a robust US jobs report bolstered the US dollar against major currencies. Some dealers said the local currency was also hurt by easing expectations of an imminent yuan revaluation as there were no signs of any mov
Published 10 May, 2005 12:00am
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