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Print - 2005-07-28
Oil dips below $59; awaits mixed US stock data

Oil dips below $59; awaits mixed US stock data

Oil prices eased back below $59 a barrel early on Wednesday, with traders moving to the sidelines ahead of weekly US stockpile data expected to show ebbing crude inventories but a rise in distillate stocks. The mixed outlook has left traders uncertain of
Published 28 Jul, 2005 12:00am
Vietnam rice prices rise as sellers hold supply

Vietnam rice prices rise as sellers hold supply

Vietnam's rice export prices rose further this week as farmers held back stocks in anticipation of even more gains after the country's exporters won new contracts from Manila, traders said on Wednesday. Traders said the Philippines had awarded Vietnamese
Published 28 Jul, 2005 12:00am
Chinese corn exports lose steam

Chinese corn exports lose steam

Chinese corn exports are grinding to a halt after a surge in the first half as slumping freight rates restore the competitive edge for US grain in the Asian market. China was unlikely to ship more than another one or two million tonnes of corn for the res
Published 28 Jul, 2005 12:00am
New York sugar ends near highs, poised to crack 10 cents

New York sugar ends near highs, poised to crack 10 cents

Raw sugar prices banked on a steady fusillade of fund and trade buying to finish on Tuesday near another 4-1/2 year peak, and the sweetener is close to cracking the psychological 10-cent level, analysts said. Judy Ganes of commodity firm J. Ganes Consulti
Published 28 Jul, 2005 12:00am
Soya futures firm, off highs on wetter outlook

Soya futures firm, off highs on wetter outlook

Soyabean futures at the Chicago Board of Trade closed higher on Tuesday as worries about the size of the US soyabean crop resurfaced due to forecasts for hot, dry weather for the Midwest by early August, traders said. That ignited aggressive buying by com
Published 28 Jul, 2005 12:00am
CBOT rice firm on follow-through

CBOT rice firm on follow-through

Rough rice futures at the Chicago Board of Trade closed a touch higher on Tuesday on follow-through technical buying, traders said. September rice closed 2 cents higher at $6.80 per hundredweight and November settled 1 cent up at $6.97.
Published 28 Jul, 2005 12:00am
Thai grains: soyameal deals done, corn prices steady

Thai grains: soyameal deals done, corn prices steady

Thai grain importers have bought several cargoes of soyabeans and soyameal from South America and India this week and are seeking to buy more for September shipment, traders said on Wednesday. Traders said feedmills were seeking to buy Argentine high-prot
Published 28 Jul, 2005 12:00am
Malaysian palm oil mostly higher in slow trade

Malaysian palm oil mostly higher in slow trade

Malaysia's crude palm oil futures were mostly higher on Wednesday but trading was slow, suggesting players are uncertain about the market's future direction as exports slow. The benchmark third-month October contract on Bursa Malaysia Derivatives rose 1 r
Published 28 Jul, 2005 12:00am
Colgate profit down

Colgate profit down

Colgate-Palmolive Co on Wednesday said second-quarter profit fell 8 percent, dragged down by restructuring charges, but sales rose, topping Wall Street expectations. Colgate, which is selling its North American detergent business as it focuses on more pro
Published 28 Jul, 2005 12:00am
Colgate profit down

Colgate profit down

Colgate-Palmolive Co on Wednesday said second-quarter profit fell 8 percent, dragged down by restructuring charges, but sales rose, topping Wall Street expectations. Colgate, which is selling its North American detergent business as it focuses on more pro
Published 28 Jul, 2005 12:00am
German jobless posts fall in July

German jobless posts fall in July

Seasonally-adjusted unemployment in Germany fell by much more than expected in July, just seven weeks ahead of a scheduled September general election in which the country's high jobless rate will be a dominant theme. The adjusted total fell by 40,000 mont
Published 28 Jul, 2005 12:00am
Honda's profit up on strong sales

Honda's profit up on strong sales

Honda Motor Co posted a better-than-expected 6.5 percent rise in quarterly operating profit on Wednesday, helped by solid Japanese and US sales, and lifted its full-year forecast to account for a stronger dollar. After a year of muted growth in its most i
Published 28 Jul, 2005 12:00am
Honda's profit up on strong sales

Honda's profit up on strong sales

Honda Motor Co posted a better-than-expected 6.5 percent rise in quarterly operating profit on Wednesday, helped by solid Japanese and US sales, and lifted its full-year forecast to account for a stronger dollar. After a year of muted growth in its most i
Published 28 Jul, 2005 12:00am
US durable orders unexpectedly strong

US durable orders unexpectedly strong

US orders for durable goods rose unexpectedly last month while a proxy for business spending rallied sharply, according to government data on Wednesday, providing more evidence of a robust economy. Sales of new single-family homes also beat forecasts, rea
Published 28 Jul, 2005 12:00am
Castro sees Cuban economy growing

Castro sees Cuban economy growing

The Cuban economy will grow around 9 percent this year due to increased centralisation and alliances with Venezuela and China, Cuban President Fidel Castro announced in an upbeat address on Tuesday night. "During the first half, the economy grew 7.3 perce
Published 28 Jul, 2005 12:00am
EADS posts first half profit jump

EADS posts first half profit jump

Higher Airbus plane sales helped parent firm EADS post a 57 percent jump in mid-year operating profit on Wednesday and prompted a rise in its earnings per share target. Earnings rose to 1.54 billion euros ($1.86 billion) before interest and taxes, goodwil
Published 28 Jul, 2005 12:00am
EADS posts first half profit jump

EADS posts first half profit jump

Higher Airbus plane sales helped parent firm EADS post a 57 percent jump in mid-year operating profit on Wednesday and prompted a rise in its earnings per share target. Earnings rose to 1.54 billion euros ($1.86 billion) before interest and taxes, goodwil
Published 28 Jul, 2005 12:00am
France ponders help for bid-threatened firms

France ponders help for bid-threatened firms

France hoisted the national flag against unwanted foreign take-overs on Wednesday, calling for "economic patriotism" as bidding rumours surrounding food giant Danone continued to create financial and political turmoil. Shares in Danone have soared in rece
Published 28 Jul, 2005 12:00am
France ponders help for bid-threatened firms

France ponders help for bid-threatened firms

France hoisted the national flag against unwanted foreign take-overs on Wednesday, calling for "economic patriotism" as bidding rumours surrounding food giant Danone continued to create financial and political turmoil. Shares in Danone have soared in rece
Published 28 Jul, 2005 12:00am
Eurozone business spirits improve, not consumers

Eurozone business spirits improve, not consumers

France provided further evidence on Wednesday of a July upturn in eurozone business confidence, but downbeat consumers could still deprive the economy of the spurt in growth that forecasters expect in the third quarter. The euro's slide of more than 10 pe
Published 28 Jul, 2005 12:00am
France Telecom clinches $7.72 billion Amena deal

France Telecom clinches $7.72 billion Amena deal

France Telecom announced its biggest acquisition in more than four years on Wednesday, paying 6.4 billion euros ($7.72 billion) in cash for control of Spain's third-biggest mobile operator, Amena. France Telecom is to buy 80 percent of Amena in a deal tha
Published 28 Jul, 2005 12:00am
Boeing earnings beat estimates; forecast raised

Boeing earnings beat estimates; forecast raised

Boeing Co on Wednesday reported better-than-expected second-quarter profit and raised its outlook for earnings and plane deliveries on healthy global demand for its jetliners. Shares of the aerospace group, whose fortunes have rebounded from Pentagon proc
Published 28 Jul, 2005 12:00am
Boeing earnings beat estimates; forecast raised

Boeing earnings beat estimates; forecast raised

Boeing Co on Wednesday reported better-than-expected second-quarter profit and raised its outlook for earnings and plane deliveries on healthy global demand for its jetliners. Shares of the aerospace group, whose fortunes have rebounded from Pentagon proc
Published 28 Jul, 2005 12:00am
Italian police probe US banks

Italian police probe US banks

Italy's financial police are investigating US investment banks J.P. Morgan, Lehman Brothers and Goldman Sachs in a tax dispute worth over 4.2 billion euros ($5.1 billion), they said on Wednesday. Police said they were looking into a procedure which allowe
Published 28 Jul, 2005 12:00am
Reliance first quarter net profit jumps

Reliance first quarter net profit jumps

India's largest private company Reliance Industries said Wednesday its first-quarter net profit jumped 61 percent on the back of a strong performance in its core oil refinery business. The company, which resolved a bitter fraternal ownership battle in Jun
Published 28 Jul, 2005 12:00am
Reliance first quarter net profit jumps

Reliance first quarter net profit jumps

India's largest private company Reliance Industries said Wednesday its first-quarter net profit jumped 61 percent on the back of a strong performance in its core oil refinery business. The company, which resolved a bitter fraternal ownership battle in Jun
Published 28 Jul, 2005 12:00am
EU disappointed at WTO failure, vows to persist

EU disappointed at WTO failure, vows to persist

The European Union promised on Wednesday not to give up on free trade talks despite the World Trade Organisation's (WTO) failure to make progress. EU Trade Commission Peter Mandelson will stick to plans to visit Geneva on Thursday for talks even though ne
Published 28 Jul, 2005 12:00am
Hyundai and Siemens buy South Korean car parts firm

Hyundai and Siemens buy South Korean car parts firm

South Korea's Hyundai Motor and German firm Siemens AG have teamed up to buy a controlling stake in Hyundai Autonet from the Seoul government for $231 million, sending shares in the local car parts firm soaring on Wednesday. The Public Fund Oversight Comm
Published 28 Jul, 2005 12:00am
Martha Stewart Living quarterly loss widens

Martha Stewart Living quarterly loss widens

Martha Stewart Living Omnimedia Inc posted a wider quarterly loss on Wednesday as costs associated with the start-up of its new television show outweighed stronger magazine advertising. Omnimedia's second-quarter net loss widened to $33.5 million from $17
Published 28 Jul, 2005 12:00am
Martha Stewart Living quarterly loss widens

Martha Stewart Living quarterly loss widens

Martha Stewart Living Omnimedia Inc posted a wider quarterly loss on Wednesday as costs associated with the start-up of its new television show outweighed stronger magazine advertising. Omnimedia's second-quarter net loss widened to $33.5 million from $17
Published 28 Jul, 2005 12:00am
Sharp ekes out first quarter profit gain

Sharp ekes out first quarter profit gain

Japan's Sharp Corp reported a 0.5 percent rise in operating profit for the April-June quarter on Wednesday as strong sales of liquid crystal display TVs offset sliding flash memory chip prices and weaker sales of small displays. The world's largest maker
Published 28 Jul, 2005 12:00am
Sharp ekes out first quarter profit gain

Sharp ekes out first quarter profit gain

Japan's Sharp Corp reported a 0.5 percent rise in operating profit for the April-June quarter on Wednesday as strong sales of liquid crystal display TVs offset sliding flash memory chip prices and weaker sales of small displays. The world's largest maker
Published 28 Jul, 2005 12:00am
Egypt sees tourism recovery by November

Egypt sees tourism recovery by November

The number of visitors to Sharm el-Sheikh should recover by November from the impact of bomb attacks on the Egyptian Red Sea resort, the country's tourism minister said on Wednesday. Ahmed el-Maghrabi told Reuters early indications showed that visitors to
Published 28 Jul, 2005 12:00am
Renault suffers margin pressure

Renault suffers margin pressure

French carmaker Renault reported a drop in its first-half operating margin on Wednesday but stuck to its broader full-year target, despite a rise in raw material prices such as steel and some sluggish markets. Operating income from its core automobile and
Published 28 Jul, 2005 12:00am
South Africa seeks to speed lagging land reform

South Africa seeks to speed lagging land reform

South Africa may pay its farmers less than they want for farms bought under its land reform scheme as it trys to boost land black ownership , the deputy president said on Wednesday, worrying the industry. Whites still own most South African farmland and f
Published 28 Jul, 2005 12:00am
Hynix second quarter profit tumbles

Hynix second quarter profit tumbles

South Korea's Hynix Semiconductor Inc, the world's second-largest computer memory chip maker, reported a 62 percent slump in quarterly earnings on Wednesday, but forecast a better second half as chip prices recover. Computer memory chip prices fell some 3
Published 28 Jul, 2005 12:00am
Hynix second quarter profit tumbles

Hynix second quarter profit tumbles

South Korea's Hynix Semiconductor Inc, the world's second-largest computer memory chip maker, reported a 62 percent slump in quarterly earnings on Wednesday, but forecast a better second half as chip prices recover. Computer memory chip prices fell some 3
Published 28 Jul, 2005 12:00am
Toronto stocks close flat on mixed earnings

Toronto stocks close flat on mixed earnings

Toronto stocks ended flat on Tuesday as a mixed bag of corporate earnings reports, including a profit warning from Inco Ltd, forced investors to rethink their expectations. The Toronto Stock Exchange S&P/TSX composite index eked out a gain of 5.34 points,
Published 28 Jul, 2005 12:00am
Hong Kong stocks rise ahead of futures expiry

Hong Kong stocks rise ahead of futures expiry

Hong Kong stocks ended slightly higher on Wednesday, clinging to the 14,800-point level ahead of the futures expiry, with China Unicom Ltd outperforming the broader market. The Hang Seng Index rose 0.22 percent, or 31.93 points to 14,801.86, a fresh, near
Published 28 Jul, 2005 12:00am
Nasdaq, S&P 500 firmer on profits, Dow dips

Nasdaq, S&P 500 firmer on profits, Dow dips

The Nasdaq and the S&P 500 rose on Tuesday after several companies, including chip maker Texas Instruments Inc, reported profits that beat estimates, while a forecast by DuPont Co disappointed Wall Street and drove the blue-chip Dow average lower. Shares
Published 28 Jul, 2005 12:00am
Indian shares jump on Reliance earnings

Indian shares jump on Reliance earnings

Indian share prices closed at a third straight record high on Wednesday, following strong first quarter earnings from the country's largest private company, Reliance Industries, dealers said. But they said trading was subdued as Mumbai was paralysed by 24
Published 28 Jul, 2005 12:00am
US Treasuries soar; look past China, confidence data

US Treasuries soar; look past China, confidence data

US Treasury debt prices climbed on Tuesday, but gains were mild as investors largely shrugged off a bond-friendly statement from China's central bank and a surprising drop in consumer confidence. In a testament to the market's rangebound state, traders ba
Published 28 Jul, 2005 12:00am
US Treasuries soar; look past China, confidence data

US Treasuries soar; look past China, confidence data

US Treasury debt prices climbed on Tuesday, but gains were mild as investors largely shrugged off a bond-friendly statement from China's central bank and a surprising drop in consumer confidence. In a testament to the market's rangebound state, traders ba
Published 28 Jul, 2005 12:00am
Malaysian shares decline

Malaysian shares decline

Malaysian share prices closed 0.40 percent lower on Wednesday in the absence of a fresh lead while persistent concerns over higher oil prices kept investors on the sidelines, said dealers. While the Kuala Lumpur Composite Index hit a year-high last Friday
Published 28 Jul, 2005 12:00am
Thai shares make gains

Thai shares make gains

Thai share prices closed 1.34 percent higher on Wednesday amid speculative buying after companies released positive results, dealers said. The Stock Exchange of Thailand (SET) composite index rose 8.81 points to close at 665.72 and the blue-chip SET 50 wa
Published 28 Jul, 2005 12:00am
Singapore shares climb

Singapore shares climb

Singapore share prices closed 0.51 percent higher on Wednesday amid expectations Singapore Telecommunications (SingTel) and other major companies will report strong quarterly earnings figures, dealers said. The Straits Times Index climbed 11.85 points to
Published 28 Jul, 2005 12:00am
Nikkei hits 15-week closing high, Advantest leads

Nikkei hits 15-week closing high, Advantest leads

Tokyo's Nikkei share average rose 0.83 percent to its highest close since April 8 on Wednesday, led by Advantest Corp after the company's quarterly results encouraged optimism about the current earnings season. A fall in the yen to 112.70 per dollar - rou
Published 28 Jul, 2005 12:00am
Jakarta shares end flat

Jakarta shares end flat

Indonesian share prices closed little changed on Wednesday but still managed to eke out another record finish on the back of gains in second liners while blue-chips Telkom and Indosat eased on profit-taking, dealers said. The Jakarta Stock Exchange compos
Published 28 Jul, 2005 12:00am
Taiwan stocks weighed down by TSMC

Taiwan stocks weighed down by TSMC

Taiwan stocks fell 0.61 percent on Wednesday, weighed down by losses in microchip heavyweight TSMC after it gave an unexpectedly weak forecast for third-quarter prices. The bellwether TAIEX share index ended down 38.91 points at 6,327.25, with turnover fa
Published 28 Jul, 2005 12:00am
Chinese shares up as funds chase big caps

Chinese shares up as funds chase big caps

China's shares rose 1.6 percent on Wednesday as funds raced to build positions in big caps such as Wuhan Iron and Steel Co Ltd. The benchmark Shanghai composite index finished at 1,089.909 points, after closing up 2.6 percent on Tuesday. "Funds were chasi
Published 28 Jul, 2005 12:00am
Hong Kong dollar rebounds

Hong Kong dollar rebounds

The Hong Kong dollar rebounded late on Wednesday as the market turned away from speculation about the yuan and focused on expectations for an interest rate rise next week. "We've seen some position adjustment ahead of the month-end and the FOMC meeting ne
Published 28 Jul, 2005 12:00am
Mumbai forex and debt markets shut after rains

Mumbai forex and debt markets shut after rains

Currency and debt markets in India's financial capital Mumbai were shut on Wednesday after heavy rains disrupted traffic and normal life. India's central bank said it had also called off reverse repo and treasury bill auctions scheduled for the day, after
Published 28 Jul, 2005 12:00am
Chinese yuan hits post-revaluation low

Chinese yuan hits post-revaluation low

China's central bank pushed the yuan to a post-revaluation low against the dollar in a last-moment burst of intervention on Wednesday, as Beijing strove to cool speculation that last week's appreciation was the first of many, dealers said. The yuan closed
Published 28 Jul, 2005 12:00am
Dollar up as focus returns to US interest rates

Dollar up as focus returns to US interest rates

The dollar edged up against the yen on Wednesday after recovering all of the losses made on China's revaluation of the yuan, as investors' attention swung back to rising US interest rates. A string of US data is due this week, including new home sales and
Published 28 Jul, 2005 12:00am
Dollar rebounds as investors cool on yuan change

Dollar rebounds as investors cool on yuan change

The dollar firmed on Tuesday after China's central bank played down talk of further upward revaluation of the yuan any time soon, although gains were tempered by weaker-than-expected US consumer confidence. The People's Bank of China said foreign media re
Published 28 Jul, 2005 12:00am
Bangladesh interbank forex, interest rates

Bangladesh interbank forex, interest rates

Interbank buy/sell rates for the taka against the dollar on Wednesday. 64.30/65.00 (previous 64.25/64.95). Call Money Rates: 4.0-16.5 percent (previous 4.5-12.0 percent).
Published 28 Jul, 2005 12:00am
Asian currencies weaker as China again dampens yuan hopes

Asian currencies weaker as China again dampens yuan hopes

Asian currencies weakened on Wednesday as China again moved to dampen hopes that further rises in the yuan would follow last week's revaluation. The South Korean won shed more than half a percent to 1,032.9 per dollar, taking its losses so far this week t
Published 28 Jul, 2005 12:00am
Choge Korir in Kenyan squad for Helsinki

Choge Korir in Kenyan squad for Helsinki

Kenya's world junior 5,000m champion Augustine Kiprono Choge has been included in the team to run the 1,500 metres at next month's world championships in Helsinki, athletics officials said on Wednesday.
Published 28 Jul, 2005 12:00am
Campbell receives hero's welcome

Campbell receives hero's welcome

US Open golf champion Michael Campbell returned to a hero's welcome on Wednesday in his first trip back to New Zealand since his victory nearly six weeks ago. The 36-year-old part-Maori, who travelled with his wife Julie, two sons and the US Open trophy,
Published 28 Jul, 2005 12:00am
Sania Mirza finds herself in Venus' orbit

Sania Mirza finds herself in Venus' orbit

India's Sania Mirza faces Wimbledon champion Venus Williams and Anna-Lena Groenefeld will meet defending champion Lindsay Davenport after victories Tuesday at a 585,000-dollar WTA tournament.
Published 28 Jul, 2005 12:00am
Ill Kiefer drops out at ATP event

Ill Kiefer drops out at ATP event

Third seed Nicolas Kiefer of Germany dropped out of his first-round match against American James Blake due to an illness here Tuesday at a 380,000-dollar ATP hardcourt tournament. The US wildcard was leading 3-2 when Kiefer quit, handing Blake a berth in
Published 28 Jul, 2005 12:00am
Flintoff calls on England to face up to Aussies attack

Flintoff calls on England to face up to Aussies attack

Andrew Flintoff claims England's batsmen can handle the challenge of Glenn McGrath and Shane Warne despite their crushing opening Ashes defeat by Australia. "There's no panic in the England team - we still have good players," Flintoff told The Sun.
Published 28 Jul, 2005 12:00am
Phelps captures 200m freestyle world title

Phelps captures 200m freestyle world title

Michael Phelps captured his first individual gold medal of the 11th World Swimming Championships on Tuesday, rebounding from a rare failure by winning the 200m freestyle ahead of Australian Grant Hackett.
Published 28 Jul, 2005 12:00am
Statement on IRA's future expected this week

Statement on IRA's future expected this week

The Irish Republican Army (IRA) is expected to issue a statement on its future by the end of this week, after a series of steps believed to set the scene for the Northern Irish guerrillas to give up their arms. "I do genuinely believe that we are within d
Published 28 Jul, 2005 12:00am
'Do-gooder' companies strike gold in South Africa

'Do-gooder' companies strike gold in South Africa

Companies the world over face pressure to pump profits back into the community, but in South Africa - blighted by AIDS and the legacy of apartheid - doing good has become a crucial component of success. Eleven years after the end of white rule, South Afri
Published 28 Jul, 2005 12:00am
Freeing Geagea may not heal Lebanon's war wounds

Freeing Geagea may not heal Lebanon's war wounds

Now rid of Syrian tutelage, Lebanon's politicians united to release Christian warlord Samir Geagea from jail, but there is no guarantee his return will cool religious tensions still simmering 15 years after the civil war.
Published 28 Jul, 2005 12:00am
Burundi's peace path to move ahead in senate polls

Burundi's peace path to move ahead in senate polls

Burundi's senate elections on Friday will set in stone a major shift in the central African nation's ethnically divided political landscape, giving power to the long-disenfranchised Hutu majority.
Published 28 Jul, 2005 12:00am
Astronauts perform first shuttle damage inspection

Astronauts perform first shuttle damage inspection

Astronauts on the shuttle Discovery slowly scanned the wings and nose of their spacecraft with a laser-equipped robot arm on Wednesday in a critical safety inspection never before performed on a shuttle mission.
Published 28 Jul, 2005 12:00am
North Korea talks creep into third day, little consensus

North Korea talks creep into third day, little consensus

Talks aimed at defusing the crisis over North Korea's nuclear ambitions creep into their third day on Thursday with Washington and Pyongyang still far apart on proposals for disarmament of the reclusive North.
Published 28 Jul, 2005 12:00am
France wants guarantees on Iran nuclear plans

France wants guarantees on Iran nuclear plans

France wants guarantees that Iran cannot produce material usable in nuclear bombs and believes the UN Security Council should deal with the issue if this is not the case, President Jacques Chirac said on Wednesday.
Published 28 Jul, 2005 12:00am
'Millennium bomber' gets 22 years

'Millennium bomber' gets 22 years

A federal judge on Wednesday sentenced Ahmed Ressam, the "millennium bomber" convicted of plotting to blow up Los Angeles' airport, to 22 years in prison for conspiracy to commit an international terrorist act, explosives smuggling and other criminal coun
Published 28 Jul, 2005 12:00am
Algerian envoys killed: Web

Algerian envoys killed: Web

Al Qaeda in Iraq said on Wednesday it killed two kidnapped Algerian envoys because of their government's support for the United States, according to an Internet statement. The statement was posted on a Web site often used by the group led by Abu Musab al-
Published 28 Jul, 2005 12:00am
US to sharply cut Iraq force within a year

US to sharply cut Iraq force within a year

The United States hopes to sharply reduce its forces in Iraq by the middle of next year, its top commander on the ground said on Wednesday. The remarks by General George Casey appear to have been the first time since the insurgency worsened sharply in Apr
Published 28 Jul, 2005 12:00am
US to announce 'Beyond Kyoto' climate pact

US to announce 'Beyond Kyoto' climate pact

The United States, the world's top polluter, is set to unveil a five-nation pact to combat global warming by developing energy technology to cut greenhouse gas emissions, officials said on Wednesday. China and India, whose burgeoning economies comprise a
Published 28 Jul, 2005 12:00am
Sri Lankan Prime Minister tapped to run for presidency

Sri Lankan Prime Minister tapped to run for presidency

Sri Lanka's ruling party has chosen Prime Minister Mahinda Rajapaksa as its next presidential candidate when the country votes for a successor to Chandrika Kumaratunga, a government source said on Wednesday.
Published 28 Jul, 2005 12:00am
British police make key arrest

British police make key arrest

British police chasing the bombers who tried to attack London's transport system last week arrested a key suspect on Wednesday in what was hailed as a major breakthrough in Britain's biggest ever manhunt. Prime Minister Tony Blair said: "I think it is an
Published 28 Jul, 2005 12:00am
Snubs all round for Asean as ministers skip forum

Snubs all round for Asean as ministers skip forum

A major Asia-Pacific security forum suffered another serious setback on Wednesday when Chinese Foreign Minister Li Zhaoxing said he would skip the meeting for a surprise trip to Myanmar.
Published 28 Jul, 2005 12:00am
Italy accuses G4 of blackmail

Italy accuses G4 of blackmail

Italy on Tuesday accused Brazil, Germany, India and Japan of resorting to blackmail in their bid to secure permanent membership of the UN Security Council as a rival proposal for council enlargement was formally introduced in the General Assembly.
Published 28 Jul, 2005 12:00am
Spain and Turkey back UK in action against terrorism

Spain and Turkey back UK in action against terrorism

Britain pressed ahead with moves to co-ordinate global efforts to fight terrorism on Wednesday following this month's bombings in London. British Prime Minister Tony Blair vowed with his counterparts from Spain and Turkey, both of which have suffered atta
Published 28 Jul, 2005 12:00am
Uzbek refugees to be flown to third state

Uzbek refugees to be flown to third state

More than 400 Uzbek refugees who fled to neighbouring Kyrgyzstan in May when troops quelled an uprising in the eastern Uzbek city of Andizhan will be flown to a third state, Kyrgyz and UN officials said on Wednesday.
Published 28 Jul, 2005 12:00am
Palestinians to secure Gaza despite disarray: Qorie

Palestinians to secure Gaza despite disarray: Qorie

Prime Minister Ahmed Qorie said on Wednesday the world would see that Palestinians could run Gaza peacefully after Israel's planned pullout, despite a US study that found Palestinian security forces in disarray.
Published 28 Jul, 2005 12:00am
High yield bonds suffer on supply indigestion

High yield bonds suffer on supply indigestion

High-yield corporate bonds weakened in Europe on Wednesday as a wave of new issuance dampened demand for securities rated below investment grade. Bonds of General Motors rallied after its finance arm said it was on track to exceed a full-year earnings tar
Published 28 Jul, 2005 12:00am
High yield bonds suffer on supply indigestion

High yield bonds suffer on supply indigestion

High-yield corporate bonds weakened in Europe on Wednesday as a wave of new issuance dampened demand for securities rated below investment grade. Bonds of General Motors rallied after its finance arm said it was on track to exceed a full-year earnings tar
Published 28 Jul, 2005 12:00am
US Stocks: Wednesday's unofficial close

US Stocks: Wednesday's unofficial close

US blue-chip stocks rose on Wednesday as manufacturing data showed the economy is on firm footing and aerospace company Boeing Co's shares advanced, offsetting mixed earnings reports. Blue-chip component Boeing and Internet retailer Amazon.com Inc reporte
Published 28 Jul, 2005 12:00am
Seoul shares edge up

Seoul shares edge up

South Korean shares ended higher on Wednesday, as Standard and Poor's upgrade of the country's foreign currency ratings boosted banks and blue chips, while Hynix Semiconductor gained on hopes for better earnings in the second half. But investors were relu
Published 28 Jul, 2005 12:00am
Philippines shares move up

Philippines shares move up

Philippines share prices closed 0.76 percent higher on Wednesday, extending gains on follow-through buying of selected blue chips with robust results for the three months to June, dealers said. They also credited the easing of political tensions after str
Published 28 Jul, 2005 12:00am
Britain's top share index closes higher

Britain's top share index closes higher

Britain's leading shares closed just in positive territory on Wednesday after solid results from Prudential and several broker upgrades balanced a decline by mobile firm O2 as sources familiar with the matter said its biggest shareholder sold shares worth
Published 28 Jul, 2005 12:00am
Sterling gains against dollar

Sterling gains against dollar

Sterling rose against a weaker dollar and traded steady versus the euro on Wednesday after British mortgage data showed an increase in the number of approvals in June. But analysts said sterling's gains may be short-lived because of expectations that the
Published 28 Jul, 2005 12:00am
Dollar stays higher versus euro in London

Dollar stays higher versus euro in London

The dollar rose for a fourth day against the euro on Wednesday after piercing through key chart levels ahead of this week's US data which could spur expectations for further interest rate rises. The greenback also gained against the yen as China issued a
Published 28 Jul, 2005 12:00am
Brazilian sugar business ebbs

Brazilian sugar business ebbs

New sales on Brazil's physical sugar market have died off as New York futures prices test the 10 cent mark and the dollar firms against the real, traders said on Wednesday. Despite the lack of fresh business, the flow of previously sold shipments through
Published 28 Jul, 2005 12:00am
Dubai tea centre seeks auction-free trade

Dubai tea centre seeks auction-free trade

A new tea trading centre in the Gulf emirate of Dubai wants to change the way the industry does business by facilitating deals away from traditional auctions. "We are trying to convince the trade that this is the future," Sanjay Sethi, head of the Dubai T
Published 28 Jul, 2005 12:00am
Oil slips, volatile after mixed US supply report

Oil slips, volatile after mixed US supply report

Oil prices eased on Wednesday after a US petroleum supply report sent the market mixed signals on the state of fuel inventories in the world's number one energy consumer. US light sweet crude for September delivery ended 9 cents down at $59.11 a barrel af
Published 28 Jul, 2005 12:00am
More soya rust in Georgia

More soya rust in Georgia

The yield-cutting soyabean rust fungus was found in a fourth county in south-west Georgia, the Agriculture Department said on Wednesday, but infestations in the state seem limited in scope.
Published 28 Jul, 2005 12:00am
New York cotton quietly easier

New York cotton quietly easier

Cotton futures settled easier Wednesday due to light speculative sales as most players stayed on the sidelines due to a dearth in news, with some waiting for release of a government report on Thursday, analysts said.
Published 28 Jul, 2005 12:00am
Liffe cocoa climbs

Liffe cocoa climbs

London's cocoa market rose to a one-month closing high on Wednesday after speculator buying in New York helped Liffe futures break out of a previous range, dealers said. Overall volume was 5,601 lots. After opening unchanged at the session low of 862 poun
Published 28 Jul, 2005 12:00am
Copper hits new record high, targets $3,500

Copper hits new record high, targets $3,500

Copper prices notched up another new record high near $3,500 on the London Metal Exchange (LME) on Wednesday, supported by short covering as stocks fall and ahead of month-end valuations, traders said.
Published 28 Jul, 2005 12:00am
European gold swings higher as dollar falls

European gold swings higher as dollar falls

Gold reversed earlier losses on Wednesday in Europe as the dollar fell on technical factors that weighed against unexpectedly strong US data. Currencies would continue to dominate sentiment, dealers said. Spot gold moved up to $423.90/424.60 an ounce by 1
Published 28 Jul, 2005 12:00am
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