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May 05, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►
Print - 2005-07-26
Cotton market modestly active

Cotton market modestly active

Modest trading was seen on the cotton market on Monday as some mills showed some interest in fresh buying, dealers said. The Karachi Cotton Association (KCA) official spot rate held its overnight level at Rs 2375, without upcountry expenses. Market source
Published 26 Jul, 2005 12:00am
Ukraine harvests 11.5 million tonnes grain

Ukraine harvests 11.5 million tonnes grain

Ukraine has harvested 11.5 million tonnes of early grain so far, Agriculture Minister Oleksander Baranivsky said on Monday, confirming government forecasts for grain harvest and exports in 2005. He said in a statement published on the government Web site
Published 26 Jul, 2005 12:00am
Thin business on grain market

Thin business on grain market

Small business was seen on the grain market on Monday as few took interest in the buying, dealers said. Most of the changes were witnessed on the seed side, where til better type lost Rs 50 to Rs 1625 while the low type maintained its overnight level at R
Published 26 Jul, 2005 12:00am
SECP defers transfer pricing till December 31

SECP defers transfer pricing till December 31

The Securities and Exchange Commission of Pakistan (SECP) has granted further exemption from application of clause 6 of Part I of the Fourth Schedule to the Companies Ordinance, 1984 till December 31, 2005.
Published 26 Jul, 2005 12:00am
Iran buys Brazilian soyaoil

Iran buys Brazilian soyaoil

The Government Trading Corporation of Iran (GTC) said on Monday it had purchased 20,000 tonnes of crude degummed Brazilian soyabean oil at $455.75 a tonne FOB for September shipment. The GTC also said on its website (www.gtcir.com) it was tendering to buy
Published 26 Jul, 2005 12:00am
SECP defers transfer pricing till December 31

SECP defers transfer pricing till December 31

The Securities and Exchange Commission of Pakistan (SECP) has granted further exemption from application of clause 6 of Part I of the Fourth Schedule to the Companies Ordinance, 1984 till December 31, 2005.
Published 26 Jul, 2005 12:00am
Russia may drop raw sugar import duty

Russia may drop raw sugar import duty

Russian sugar producers have agreed to a government proposal to drop the top level of raw cane sugar import tariff of $270 per tonne to ease the country's accession to the WTO, the sugar industry lobby said on Monday. The Russian Sugar Producers Union sai
Published 26 Jul, 2005 12:00am
SECP defers transfer pricing till December 31

SECP defers transfer pricing till December 31

The Securities and Exchange Commission of Pakistan (SECP) has granted further exemption from application of clause 6 of Part I of the Fourth Schedule to the Companies Ordinance, 1984 till December 31, 2005.
Published 26 Jul, 2005 12:00am
Shanghai copper futures rise to record heights

Shanghai copper futures rise to record heights

Shanghai copper futures rose to record heights on Monday as the prospect of tighter supply globally and locally spurred buying. Gains in Shanghai helped boost London Metal Exchange copper futures to a record high in mid-afternoon trade.
Published 26 Jul, 2005 12:00am
Egypt police fight battles as blast probe widens

Egypt police fight battles as blast probe widens

Egyptian police fought gun battles in desert mountains near the Red Sea resort of Sharm el-Sheikh on Monday in a hunt for militants who killed at least 64 people in a bomb attack. Two days after Egypt's worst attack since 1981, police were surrounding a g
Published 26 Jul, 2005 12:00am
China June aluminium exports slow, copper imports up

China June aluminium exports slow, copper imports up

China's metals imports and exports in the second half of the year will largely depend on the response of the economy, and especially the property market, to the recent appreciation of the yuan, analysts said on Monday.
Published 26 Jul, 2005 12:00am
Egypt police fight battles as blast probe widens

Egypt police fight battles as blast probe widens

Egyptian police fought gun battles in desert mountains near the Red Sea resort of Sharm el-Sheikh on Monday in a hunt for militants who killed at least 64 people in a bomb attack. Two days after Egypt's worst attack since 1981, police were surrounding a g
Published 26 Jul, 2005 12:00am
East Asian grain freight, quality concern may discourage imports

East Asian grain freight, quality concern may discourage imports

East Asian buyers are seeking corn, soybean, soymeal and wheat this week, although some are opting to wait and see whether shipping costs sink lower than their recent dip to more than one-year lows, traders said on Monday. Many South Korean importers were
Published 26 Jul, 2005 12:00am
De Beers lifts first half diamond sales, year output to rise

De Beers lifts first half diamond sales, year output to rise

De Beers, the world's biggest diamond producer, posted an 8 percent rise in first-half rough diamond sales helped by higher prices and buoyant demand, but plans no more price hikes until later in the year to cut stockpiles. De Beers said on Monday sales b
Published 26 Jul, 2005 12:00am
Rain falls on Brazil coffee, no frost seen

Rain falls on Brazil coffee, no frost seen

The arrival of a cold front in Brazil's south-east coffee belt was bringing rain and cooler temperatures but no risk of damaging frost, independent weather service Somar said on Monday. Light rain fell on Parana and southern Sao Paulo states over the week
Published 26 Jul, 2005 12:00am
HRW wheat bids flat, storage tight

HRW wheat bids flat, storage tight

US hard red winter wheat basis bids were unchanged on Monday as wheat sales remained light and storage tight, merchants said. Protein premiums for railcar wheat to and through Kansas City also remained flat. Merchants through Kansas and elsewhere in the P
Published 26 Jul, 2005 12:00am
US Midwest corn softer, soyabean firmer

US Midwest corn softer, soyabean firmer

US Midwest spot soyabean basis bids were steady to firm on Monday, with some processors raising their bids to attract more sales, while corn was steady to softer amid little country movement, dealers said. "They're not selling anything with the down marke
Published 26 Jul, 2005 12:00am
Hungary beet crop seen up to 3.2 million tonnes

Hungary beet crop seen up to 3.2 million tonnes

Hungary's beet crop is expected to be as high as 3.2 million tonnes, down on last year's record, but it risks producing more sugar than its EU quota, sugar association CIE said on Monday. Last year's sugar beet crop was 3.5 million tonnes. CIE declined to
Published 26 Jul, 2005 12:00am
NOL's June cargo shipments up 13 percent

NOL's June cargo shipments up 13 percent

Singapore's Neptune Orient Lines, the world's sixth-biggest container shipping line, carried 13 percent more cargo on its ships in June than a year earlier, it said on Monday, helped by a global trade boom fuelled by China. Neptune Orient Lines Ltd (NOL)
Published 26 Jul, 2005 12:00am
CIF Gulf corn and soya steady

CIF Gulf corn and soya steady

US CIF Gulf soyabean and corn basis values were mostly steady on Monday, supported by a slowdown in farmer selling amid calls for lower futures. The possibility of rain and cooler weather in the Midwest had traders calling Chicago Board of Trade corn to o
Published 26 Jul, 2005 12:00am
Singapore bunker fuel prices up

Singapore bunker fuel prices up

Singapore bunker prices rose on Monday, tracking higher 380-cst fuel oil cargo values. Prices for 380-centistoke (cst) bunker fuel were pegged at $247-$249 a tonne, up $7 from the previous day, on moderate demand. The differential to cargo values remained
Published 26 Jul, 2005 12:00am
Activity at Karachi and Qasim ports

Activity at Karachi and Qasim ports

The Karachi Port handled 106,922 tonnes of cargo including 65,626 tonnes import and 41,296 tonnes export cargo during last 48 hours ending at 0700 hours on Monday. The cargo comprised of 44,499 tonnes dry cargo including 33,080 tonnes general cargo; 5,095
Published 26 Jul, 2005 12:00am
Weekend rain adds to Hungary harvest woes

Weekend rain adds to Hungary harvest woes

Continued heavy weekend rains again disrupted Hungary's wheat harvest, already battered by weeks of wet weather, and added to worries about quality, the Agriculture Ministry and farmers said on Monday. Up to 40 millimetres of rain at the weekend meant har
Published 26 Jul, 2005 12:00am
Indian wheat futures fall on import talk

Indian wheat futures fall on import talk

Indian wheat futures fell on Monday on market talk the country may allow imports to meet a shortfall, while soyoil slipped after rains in growing areas, brokers said. By 0813 GMT, August wheat contract at the National Commodity and Derivatives Exchange (N
Published 26 Jul, 2005 12:00am
LME copper futures soar to record high

LME copper futures soar to record high

London Metal Exchange copper futures hit an all-time high on Monday in Asia, lifted by Chinese buying and a South Korean tender. The contract climbed about 1 percent to $3,479/$3,484 a tonne shortly after Shanghai futures markets began their afternoon ses
Published 26 Jul, 2005 12:00am
Physical buying lifts gold in Asia, dollar watched

Physical buying lifts gold in Asia, dollar watched

Buying interest from investors and jewellers helped gold defy a stronger dollar in Asia on Monday, but the yellow metal lacked impetus to rise much higher after it failed to breach key resistance. Spot gold was at $425.15/425.65 an ounce by 0427 GMT, vers
Published 26 Jul, 2005 12:00am
Polish 2005 grain harvest seen lower

Polish 2005 grain harvest seen lower

Poland's grain output without maize is expected to fall to 24.5-25.5 million tonnes this year, up to 10 percent less than last year's record high, the statistical office (GUS) said on Monday. The office's preliminary estimate - in line with earlier estima
Published 26 Jul, 2005 12:00am
Oil holds steady near $59, buoyed by storms, yuan

Oil holds steady near $59, buoyed by storms, yuan

Oil prices held firm near $59 a barrel on Monday, bolstered by persistent anxiety about storms in the oil-producing US Gulf of Mexico and expectations of rising Chinese oil imports after the yuan's revaluation. US light, sweet crude oil futures eased 1 ce
Published 26 Jul, 2005 12:00am
Malaysian palm exports down in July

Malaysian palm exports down in July

Malaysian exports of oil palm products for July 1 to 25 could fall 24.4 percent to 824,241 tonnes from the 1,090,534 tonnes tracked for June 1 to 25, Societe Generale de Surveillance, a cargo surveyor, said on Monday. Year-on-year, the figure should be do
Published 26 Jul, 2005 12:00am
South Africa's maize farmers speculate on shift in market

South Africa's maize farmers speculate on shift in market

Facing prices so low they say they cannot break even, South African farmers are hoarding maize and buying futures in the hope of making money if the market rises when they fail to plant, traders and growers say.
Published 26 Jul, 2005 12:00am
Thai rubber prices high, shipment further delayed

Thai rubber prices high, shipment further delayed

Thai rubber prices are expected to stay firm over the next week as continued tight supply of raw materials forces exporters to extend delays of shipments awaited eagerly by buyers, traders said on Monday. The price of benchmark unsmoked rubber sheet grade
Published 26 Jul, 2005 12:00am
Tokyo gold up slightly; platinum hits 15-month high

Tokyo gold up slightly; platinum hits 15-month high

Tokyo gold futures edged higher on Monday, supported by a firmer dollar-based spot price, but the yellow metal was generally rangebound and lacked clear direction. The June platinum futures contract on the Tokyo Commodity Exchange rose above 3,100 yen at
Published 26 Jul, 2005 12:00am
Asian oil swaps

Asian oil swaps

Asian oil swaps rose in early trade on Monday, tracking strong global crude benchmarks, with the bearish fuel oil market perking up on improved Chinese demand. Traders valued August fuel oil at $269 a tonne, up $4.25 from last Friday with the August/Septe
Published 26 Jul, 2005 12:00am
Uzbekistan cotton fibre output jumps

Uzbekistan cotton fibre output jumps

Uzbekistan's cotton fibre output weighed in at 636,241 tonnes in January to June, rising by 29.6 percent over the first half of 2004, the State Statistics Committee said on Monday. The Central Asian state of 26 million boosted its raw cotton output to 3.5
Published 26 Jul, 2005 12:00am
China eyes resolving textile dispute with US

China eyes resolving textile dispute with US

China still hopes to resolve a dispute with the United States over textile exports, a senior Commerce Ministry official was quoted on Monday as saying. Chinese and US officials had agreed to hold the next round of talks over the dispute "as soon as possib
Published 26 Jul, 2005 12:00am
Malaysian palm down on weak exports

Malaysian palm down on weak exports

Malaysian crude palm oil futures fell almost two percent on Monday, extending losses from the previous week as export estimates for July remained soft amid a lack of direction from rival soyaoil. For a second time since Friday, the benchmark contact slipp
Published 26 Jul, 2005 12:00am
Teva buys Ivax for $7.4 billion

Teva buys Ivax for $7.4 billion

Teva Pharmaceutical Industries Ltd has agreed to buy rival Ivax Corp for $7.4 billion in a deal that vaults the Israeli firm back to the position as world's biggest maker of generic drugs. Teva said on Monday it would buy Ivax for $26 a share, or 0.8471 i
Published 26 Jul, 2005 12:00am
NYSE two seats sell for $2.6 million each

NYSE two seats sell for $2.6 million each

Two membership seats on the New York Stock Exchange sold for $2.6 million each, the exchange said on Monday, just shy of the record $2.65 million set in 1999. The bid for seats is now $2.5 million and the offer is $3 million. Today's sales are $190,000 hi
Published 26 Jul, 2005 12:00am
EU grants Bosnia $60 million for reforms

EU grants Bosnia $60 million for reforms

The European Commission (EC) granted Bosnia 49.4 million euro ($60 million) on Monday to help it implement a set of reforms that will bring the Balkan country closer to the European Union. The funds will be allocated for democratic stabilisation, governan
Published 26 Jul, 2005 12:00am
India's cabinet gives more autonomy to state firms

India's cabinet gives more autonomy to state firms

India on Monday gave state-run companies more managerial and commercial autonomy to enable them to operate better in an increasingly competitive environment. The announcement comes on the heels of the communist-backed ruling coalition's plan to revive a f
Published 26 Jul, 2005 12:00am
US existing home sales hit record

US existing home sales hit record

Sales of existing US homes rose 2.7 percent in June to a record pace as home prices soared 14.7 percent from a year ago, the biggest jump in nearly 25 years, a trade group said on Monday. Sales of previously owned homes surged to a seasonally adjusted 7.3
Published 26 Jul, 2005 12:00am
SAA strike reverberates across Africa

SAA strike reverberates across Africa

South African Airways (SAA) was forced to cancel dozens more flights as one of the worst strikes in the airline's history went to a fourth day on Monday, stranding travellers from London to Lusaka. SAA dispatched airplanes to pick up waiting passengers in
Published 26 Jul, 2005 12:00am
Unocal almost accepted CNOOC offer

Unocal almost accepted CNOOC offer

The board of directors of Unocal Corp, the US oil and gas producer, was prepared to accept a take-over offer from China's CNOOC Ltd until original suitor Chevron Corp was persuaded to raise its bid, according to documents filed with regulators on Monday.
Published 26 Jul, 2005 12:00am
EU prevails in tax row with US at WTO

EU prevails in tax row with US at WTO

The European Union has prevailed in its row with the United States over export tax breaks which could lead to fresh EU trade sanctions, a source familiar with a ruling by the World Trade Organisation said on Monday. "It went all the EU's way," said the so
Published 26 Jul, 2005 12:00am
EU prevails in tax row with US at WTO

EU prevails in tax row with US at WTO

The European Union has prevailed in its row with the United States over export tax breaks which could lead to fresh EU trade sanctions, a source familiar with a ruling by the World Trade Organisation said on Monday. "It went all the EU's way," said the so
Published 26 Jul, 2005 12:00am
China's oil demand shows slim growth, imports off

China's oil demand shows slim growth, imports off

China's apparent oil demand edged up a slim 0.7 percent in June, reversing the previous month's contraction but still underscoring signs of a weaker appetite for oil in the world's second-largest consumer. Crude and refined oil product imports slid last m
Published 26 Jul, 2005 12:00am
Commerzbank cooperating fully

Commerzbank cooperating fully

Germany's Commerzbank said it was cooperating fully with a money-laundering investigation linked to Russian telecoms assets that led to the resignation of an executive board member. A bank spokesman confirmed on Monday that the surprise exit of Andreas de
Published 26 Jul, 2005 12:00am
Vodafone tops first quarter forecasts

Vodafone tops first quarter forecasts

Cell phone giant Vodafone Group Plc topped forecasts by netting 4.1 million new customers in its first quarter - its best growth in five years - which helped send its shares to new year highs on Monday. Including another six million customers from its acq
Published 26 Jul, 2005 12:00am
Vodafone tops first quarter forecasts

Vodafone tops first quarter forecasts

Cell phone giant Vodafone Group Plc topped forecasts by netting 4.1 million new customers in its first quarter - its best growth in five years - which helped send its shares to new year highs on Monday. Including another six million customers from its acq
Published 26 Jul, 2005 12:00am
Indian police beat workers; scores of people injured

Indian police beat workers; scores of people injured

Scores of people were injured Monday after riot police beat hundreds of workers at a Japanese automobile factory in the Indian capital, television reports said. National networks showed live the beating of cowering workers outside their factory by swarms
Published 26 Jul, 2005 12:00am
ONGC and Reliance win most oil blocs

ONGC and Reliance win most oil blocs

Oil and Natural Gas Corp Ltd and Reliance Industries Ltd won most of the 18 exploration blocs awarded by India on Monday in the fifth round of its New Exploration and Licensing Policy (NELP-V). State-run ONGC, along with partners including British oil exp
Published 26 Jul, 2005 12:00am
Opec, consumers should share oil storage

Opec, consumers should share oil storage

Opec producers and major consuming nations should join forces to maintain tactical stocks of oil near key markets in order to reduce volatility and cool prices, an academic said in comments published on Monday. Producers should acquire storage facilities
Published 26 Jul, 2005 12:00am
Ericsson gets Indian mobile email equipment order

Ericsson gets Indian mobile email equipment order

Telecoms equipment maker Ericsson said on Monday it had won an order from India's Idea Cellular for technology that sends out e-mails to mobile phones. Ericsson did not give a value for the order, which will allow Idea to offer push e-mail services to its
Published 26 Jul, 2005 12:00am
SK Telecom profit jumps

SK Telecom profit jumps

SK Telecom Co, South Korea's top mobile operator, posted a 56 percent jump in quarterly profit on Monday, helped by reduced marketing costs and sales of lucrative wireless data services. SK, which controls half of the country's $17 billion mobile market,
Published 26 Jul, 2005 12:00am
SK Telecom profit jumps

SK Telecom profit jumps

SK Telecom Co, South Korea's top mobile operator, posted a 56 percent jump in quarterly profit on Monday, helped by reduced marketing costs and sales of lucrative wireless data services. SK, which controls half of the country's $17 billion mobile market,
Published 26 Jul, 2005 12:00am
Opec July output rises to 26-year high: Petrologistics

Opec July output rises to 26-year high: Petrologistics

Opec crude output is up 600,000 barrels per day in July to 30.30 million bpd, the highest level since late 1979, tanker-tracking consultancy Petrologistics said on Monday. Output rose as the UAE boosted production following field maintenance, while Iraq i
Published 26 Jul, 2005 12:00am
BellSouth profit falls

BellSouth profit falls

BellSouth Corp, the No 3 US telecommunications company, on Monday said second-quarter earnings fell 20 percent due to costs from the purchase of AT&T Wireless by its Cingular Wireless joint venture. Results excluding one-time items beat Wall Street foreca
Published 26 Jul, 2005 12:00am
BellSouth profit falls

BellSouth profit falls

BellSouth Corp, the No 3 US telecommunications company, on Monday said second-quarter earnings fell 20 percent due to costs from the purchase of AT&T Wireless by its Cingular Wireless joint venture. Results excluding one-time items beat Wall Street foreca
Published 26 Jul, 2005 12:00am
Xerox profit misses Wall Street view

Xerox profit misses Wall Street view

Office equipment maker Xerox Corp on Monday posted lower-than-expected quarterly earnings as a shift to sales of lower-priced models trimmed profit margins. Its stock fell nearly 7 percent. Xerox, best known for its copiers and printers, also warned that
Published 26 Jul, 2005 12:00am
Xerox profit misses Wall Street view

Xerox profit misses Wall Street view

Office equipment maker Xerox Corp on Monday posted lower-than-expected quarterly earnings as a shift to sales of lower-priced models trimmed profit margins. Its stock fell nearly 7 percent. Xerox, best known for its copiers and printers, also warned that
Published 26 Jul, 2005 12:00am
EMC unveils largest corporate data storage machine

EMC unveils largest corporate data storage machine

EMC Corp will unveil on Monday the largest ever machine for storing corporate data, with up to four times more capacity than is now available. The world's top supplier of corporate data storage wants to stoke growth for its high-capacity systems, betting
Published 26 Jul, 2005 12:00am
Maruti first quarter profit up

Maruti first quarter profit up

Top Indian car maker Maruti Udyog Ltd reported a forecast-beating 32 percent rise in profit as cost cuts and strong demand for its new Swift hatchback offset falling sales of other vehicles and higher raw materials prices. The New Delhi-based auto maker,
Published 26 Jul, 2005 12:00am
Maruti first quarter profit up

Maruti first quarter profit up

Top Indian car maker Maruti Udyog Ltd reported a forecast-beating 32 percent rise in profit as cost cuts and strong demand for its new Swift hatchback offset falling sales of other vehicles and higher raw materials prices. The New Delhi-based auto maker,
Published 26 Jul, 2005 12:00am
Pop Italiana wins time, Antonveneta meeting moved

Pop Italiana wins time, Antonveneta meeting moved

Banca Popolare Italiana won time to unblock its voting rights at take-over target Banca Antonveneta on Monday after a shareholders' meeting at the Padua-based bank was adjourned to Wednesday. The meeting is the next clash in a battle between Pop Italiana
Published 26 Jul, 2005 12:00am
Pop Italiana wins time, Antonveneta meeting moved

Pop Italiana wins time, Antonveneta meeting moved

Banca Popolare Italiana won time to unblock its voting rights at take-over target Banca Antonveneta on Monday after a shareholders' meeting at the Padua-based bank was adjourned to Wednesday. The meeting is the next clash in a battle between Pop Italiana
Published 26 Jul, 2005 12:00am
Crane captures wire-to-wire US PGA wins

Crane captures wire-to-wire US PGA wins

Slow-playing Ben Crane fired a one-under par 69 here on Sunday to complete the PGA US Bank Championship's first wire-to-wire triumph in 31 years, defeating Scott Verplank by four strokes. It was the second career US PGA title for Crane, who won two years
Published 26 Jul, 2005 12:00am
Winning streaks in sport

Winning streaks in sport

Winning streaks in sport after Lance Armstrong secured his seventh successive victory in the Tour de France on Sunday:
Published 26 Jul, 2005 12:00am
Vaughan issues Ashes rallying cry

Vaughan issues Ashes rallying cry

England captain Michael Vaughan insisted all was not lost after seeing his side lose the first Ashes Test against Australia by the crushing margin of 239 runs at Lord's.
Published 26 Jul, 2005 12:00am
Murali sends West Indians crashing to defeat

Murali sends West Indians crashing to defeat

Muttiah Muralitharan spun the West Indians to their doom as Sri Lanka won the second cricket Test by 240 runs here on Monday to sweep the short series 2-0. The off-spinner grabbed eight for 46 as the tourists, set a huge victory target of 375, folded up f
Published 26 Jul, 2005 12:00am
Arabs working on summit in two weeks

Arabs working on summit in two weeks

The Arab League, Egypt and other Arab states are trying to arrange an Arab summit in Egypt within about 2 weeks to discuss Iraq and the Israeli-Palestinian conflict, an Arab League spokesman said on Monday.
Published 26 Jul, 2005 12:00am
China facing epidemic of suicide and depression

China facing epidemic of suicide and depression

Suicide is the number one cause of death among people aged 20 to 35 in China, where an estimated quarter of a million people a year - or 685 a day - take their lives, state media said on Monday.
Published 26 Jul, 2005 12:00am
Under fire, Niger president to tour hunger areas

Under fire, Niger president to tour hunger areas

Niger President Tandja Mamadou, facing criticism at home for not drawing more attention to a hunger crisis affecting millions, plans to visit some of the worst affected areas this week, officials said.
Published 26 Jul, 2005 12:00am
Georgia blames Russian agent for car bombing

Georgia blames Russian agent for car bombing

Georgia on Monday accused a Russian agent of organising a car bombing that killed three policemen and seriously injured 15 people in February Interior Minister Vano Merabishvili did not say why Russia would want to attack its ex-Soviet neighbour, but Geor
Published 26 Jul, 2005 12:00am
Sudan press faces obstacles despite censorship end

Sudan press faces obstacles despite censorship end

The end of newspaper censorship as part of the repeal of Sudan's emergency laws will not guarantee press freedom while the government uses money and existing criminal laws to control journalists, editors say. The government says the Sudanese press has ext
Published 26 Jul, 2005 12:00am
Turkey to take final step for EU talks on July 27

Turkey to take final step for EU talks on July 27

Turkey will meet the final condition for opening EU membership talks on October 3 when it signs a protocol on Wednesday extending its current EU ties to the bloc's 10 new member states, an EU diplomat said on Monday.
Published 26 Jul, 2005 12:00am
New Zealand shares

New Zealand shares

New Zealand share prices closed 0.39 percent higher on Monday in muted trade amid continuing uncertainty ahead of next month's earnings season, dealers said. The benchmark NZSX-50 gross index rose 12.85 points to 3,329.07 on turnover of 130 million dollar
Published 26 Jul, 2005 12:00am
Australian shares led by resources gains

Australian shares led by resources gains

Australian share prices closed at another record high on Monday with investors continuing their positive outlook on the resources sector after China's revaluation of the yuan, dealers said. They the optimism was largely fuelled by positive economic news f
Published 26 Jul, 2005 12:00am
Malaysian shares close little changed

Malaysian shares close little changed

Malaysian shares closed little changed on Monday after late bargain-hunting offset initial weakness and kept the benchmark index in positive territory, dealers said. The market opened weak on profit-taking after last Friday's run-up following the governme
Published 26 Jul, 2005 12:00am
Banks help Hong Kong stocks to end in positive territory

Banks help Hong Kong stocks to end in positive territory

Hong Kong stocks ended little changed on Monday after shuttling in a tight range, with gains in banking shares such as HSBC partly offset by losses for property counters. The benchmark Hang Seng Index tiptoed 0.05 percent, or 7.57 points, higher to 14,794
Published 26 Jul, 2005 12:00am
Seoul shares mark highest close in over 10 years

Seoul shares mark highest close in over 10 years

Seoul stocks rose to their highest close in over a decade on Monday, as hopes for strong quarterly earnings lifted Kookmin Bank and other financials, while easing concerns about the impact of China's yuan revaluation boosted exporters.
Published 26 Jul, 2005 12:00am
Jakarta shares weaken

Jakarta shares weaken

Indonesian share prices closed 0.21 percent lower on Monday with market leader Telkom hit by profit taking, dealers said. The benchmark index should technically still be moving upward based on the market's fundamentals, said Anugerah Tiara Securindo analy
Published 26 Jul, 2005 12:00am
Indian shares close at record high

Indian shares close at record high

Indian share prices closed at a record high on Monday with the benchmark Sensex index crossing the 7,500 mark as bank stocks surged on hopes the central bank will keep interest rates steady, dealers said. The Mumbai stock exchange's 30-share Sensex rose 8
Published 26 Jul, 2005 12:00am
Slovakia sells 4-year floating bond, demand strong

Slovakia sells 4-year floating bond, demand strong

Slovakia sold 5.790 billion crowns ($181.3 million) worth of 4-year floating-rate government bonds in an auction that attracted strong demand on Monday, the finance ministry's Debt and Liquidity Management Agency said. Total demand in the ninth sale of th
Published 26 Jul, 2005 12:00am
Slovakia sells 4-year floating bond, demand strong

Slovakia sells 4-year floating bond, demand strong

Slovakia sold 5.790 billion crowns ($181.3 million) worth of 4-year floating-rate government bonds in an auction that attracted strong demand on Monday, the finance ministry's Debt and Liquidity Management Agency said. Total demand in the ninth sale of th
Published 26 Jul, 2005 12:00am
Thai share prices close 1.65 percent higher

Thai share prices close 1.65 percent higher

Thai share prices closed 1.65 percent higher on Monday with investors reacting belatedly to China's decision to revalue its currency by 2.1 percent, dealers said. They noted the decision to revalue the yuan to 8.1 to the dollar from 8.28 was announced on
Published 26 Jul, 2005 12:00am
Singapore shares drop after four-day rally

Singapore shares drop after four-day rally

Singapore share prices closed 0.42 percent lower on Monday on profit-taking, especially in banking stocks after they rallied last week on news of a relaxation of home mortgage financing rules, dealers said. Gains in China-linked stocks, which continued to
Published 26 Jul, 2005 12:00am
China to resume IPOs once big firms complete state share sales

China to resume IPOs once big firms complete state share sales

China will resume initial public offerings (IPO) on its domestic markets once its major listed companies complete their state-owned share sales, state media reported on Monday. The process could take as long as 12 months, even without waiting for smaller
Published 26 Jul, 2005 12:00am
Japanese government bonds dip

Japanese government bonds dip

Japanese government bonds (JGBs) slipped on Monday due to investor caution at the start of a busy week that includes two bond auctions, a Bank of Japan policy meeting and a slew of economic data A rebound in Tokyo stocks also pressured JGBs ahead of a 20-
Published 26 Jul, 2005 12:00am
Japanese government bonds dip

Japanese government bonds dip

Japanese government bonds (JGBs) slipped on Monday due to investor caution at the start of a busy week that includes two bond auctions, a Bank of Japan policy meeting and a slew of economic data A rebound in Tokyo stocks also pressured JGBs ahead of a 20-
Published 26 Jul, 2005 12:00am
Nikkei rises on earnings hopes, resource stocks gain

Nikkei rises on earnings hopes, resource stocks gain

Tokyo's Nikkei share average closed up 0.58 percent on Monday, putting last week's revaluation of the Chinese yuan behind it, as earnings optimism bolstered such stocks as Fanuc Ltd Higher oil prices lifted resource-related shares including Nippon Mining
Published 26 Jul, 2005 12:00am
Indian rupee slips as central bank, importers buy dollars

Indian rupee slips as central bank, importers buy dollars

The rupee slid on Monday on sustained dollar buying by state-run banks that act on behalf of the central bank and month-end purchases of the US currency by companies needing to make loan or import payments. The partially convertible rupee weakened 0.11 pe
Published 26 Jul, 2005 12:00am
Swiss franc edges lower against dollar, shrugs off blasts

Swiss franc edges lower against dollar, shrugs off blasts

The Swiss franc edged lower against the dollar on Monday, as the US currency recovered ground it had lost in the wake of China's decision to revalue the yuan and despite deadly attacks on tourists in Egypt.
Published 26 Jul, 2005 12:00am
Yen edges down as yuan revaluation rally fades

Yen edges down as yuan revaluation rally fades

The yen fell for a second straight session on Monday, giving back more of the sharp gains scored last week after China ditched the yuan's decade-long peg to the dollar and let it move in line with a basket of currencies.
Published 26 Jul, 2005 12:00am
Hong Kong dollar weakens

Hong Kong dollar weakens

The Hong Kong dollar weakened on Monday, tracking other Asian currencies as euphoria over China's revaluation of the yuan last week gave way to caution. "Everyone is thinking about the likely timing of the next appreciation of the yuan but the market is m
Published 26 Jul, 2005 12:00am
Chinese yuan closes up, nears 1.5 percent limit versus euro

Chinese yuan closes up, nears 1.5 percent limit versus euro

China's yuan closed on Monday at its highest levels against the dollar since it was revalued last week and also moved to the upper end of its trading limit against the euro. Traders and economists are watching every slight movement by the yuan for clues a
Published 26 Jul, 2005 12:00am
US and North Korea envoys meet

US and North Korea envoys meet

US and North Korean envoys met on Monday on the eve of a long-awaited resumption of multilateral talks on Pyongyang's nuclear ambitions, raising hopes of a less confrontational approach after three rounds of deadlock.
Published 26 Jul, 2005 12:00am
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