Titan Petrochemicals Group Ltd said on Wednesday it would buy up to 10 bunker barges for as much as US $86.7 million to expand and upgrade its ship refuelling business.
The State Bank of Pakistan in its fortnightly Treasury Bills auction received bids worth Rs 96.375 billion against its target amount of Rs 60 billion, which was 1.60 times the amount on offer. The SBP maintained its last cut-off yield by accepting Rs 79.8
Russia's government, preparing intervention tenders to purchase domestic wheat, has set a minimum price of 3,100 roubles ($115.50) below which it would support the market, the Agriculture Minister said on Wednesday.
The State Bank of Pakistan in its fortnightly Treasury Bills auction received bids worth Rs 96.375 billion against its target amount of Rs 60 billion, which was 1.60 times the amount on offer. The SBP maintained its last cut-off yield by accepting Rs 79.8
US hard red winter wheat spot basis bids were mostly unchanged in light activity on Wednesday, grain dealers said. Some farmer selling has been noted amid the rally in Kansas City Board of Trade futures prices in which July wheat closed at $5.03, up 3-1/4
The Water and Power Development Authority (Wapda) has defaulted in servicing foreign re-lent loans amounting to Rs 20.5 billion which were due to be paid by June 30, sources in Economic Affairs Division (EAD) told Business Recorder on Wednesday.
India has extended a general ban on the export of white refined sugar, from which some mills are exempt, until the end of the financial year in March 2007 to keep domestic prices in check.
The Water and Power Development Authority (Wapda) has defaulted in servicing foreign re-lent loans amounting to Rs 20.5 billion which were due to be paid by June 30, sources in Economic Affairs Division (EAD) told Business Recorder on Wednesday.
China's State Reserves Bureau has released more copper from its stockpile to the Chinese market, dampening demand for imported metal from the world's biggest copper consumer.
The Water and Power Development Authority (Wapda) has defaulted in servicing foreign re-lent loans amounting to Rs 20.5 billion which were due to be paid by June 30, sources in Economic Affairs Division (EAD) told Business Recorder on Wednesday.
India's Tata group plans to raise its stake in the country's largest private steel maker, Tata Steel Ltd, to ward off possible hostile takeover bids, the group's chairman said on Wednesday. Last week, the world's top steel maker, Mittal Steel - which agre
US-led coalition forces in Afghanistan killed 35 rebels in a single strike on a "known Taliban compound" in the south of the country, while three more were killed separately on Wednesday, officials said.
Posco, South Korea's top steel maker, said on Wednesday it would produce 31 percent more steel plates in 2009 compared to 2006 to meet growing demand. Posco said in a statement that it would increase production of steel plates to 4.3 million tonnes in 200
US-led coalition forces in Afghanistan killed 35 rebels in a single strike on a "known Taliban compound" in the south of the country, while three more were killed separately on Wednesday, officials said.
On the forward cottonseed oilcake market only distant December vaida was moving up on Wednesday in slow business, dealers said. The July vaida commenced at Rs 545.00 and market settled at the same rate. The August vaida also did not move and stayed put at
Prime Minister Shaukat Aziz said on Wednesday that political stability, consistency and continuity of economic polices and high corporate profitability is turning Pakistan into a destination of choice for investors from regions as diverse as the Middle Ea
Firm trend was seen on the cotton market on Wednesday despite the news of better production for the current season, dealers said. The official spot was unchanged at Rs 2600, without upcountry expenses.
Prime Minister Shaukat Aziz said on Wednesday that political stability, consistency and continuity of economic polices and high corporate profitability is turning Pakistan into a destination of choice for investors from regions as diverse as the Middle Ea
The average price of Bangladesh teas fell nearly 1.00 percent to 99.48 taka ($1.43) per kg on lower overseas demand at a weekly auction on Wednesday, brokers said.
Prime Minister Shaukat Aziz said on Wednesday that political stability, consistency and continuity of economic polices and high corporate profitability is turning Pakistan into a destination of choice for investors from regions as diverse as the Middle Ea
Steady trend was seen on the grain market on Wednesday as most of the commodities maintained their overnight levels in process of low business, dealers said. They said that prices did not move sharply due to balanced demand and supply of the commodities f
July 31 is the last date for importers and mill owners for payment of 50 percent outstanding sugar loans as they have been formally served notices by commercial banks to meet the deadline to avoid default and subsequent punitive action.
Hungary will accumulate 14-15 million tonnes of surplus grain stocks by 2010 unless the European Union overhauls its subsidy system, agriculture research institute AKI said on Wednesday.
July 31 is the last date for importers and mill owners for payment of 50 percent outstanding sugar loans as they have been formally served notices by commercial banks to meet the deadline to avoid default and subsequent punitive action.
Indonesia's state marketing centre rejected bids for 2,500 tonnes of crude palm oil offered at an export auction as buyers offered lower prices, the centre's official said on Wednesday.
July 31 is the last date for importers and mill owners for payment of 50 percent outstanding sugar loans as they have been formally served notices by commercial banks to meet the deadline to avoid default and subsequent punitive action.
Ukraine's white sugar stocks will cover domestic needs over the two months to the start of the new 2006/07 season and the country requires no imports, producers said on Wednesday.
Prime Minister Shaukat Aziz has constituted a committee comprising Planning Commission Deputy Chairman Dr Akram Sheikh, Secretary Ministry of Industries and Production, Kamran Rasool, and Chairman Central Board of Revenue, Abdullah Yousaf, to prepare a 10
Edible oil imports by India, the world's leading buyer, is set to drop by about half a million tonnes in the year ending October thanks to higher domestic availability, trade officials said on Wednesday.
Prime Minister Shaukat Aziz has constituted a committee comprising Planning Commission Deputy Chairman Dr Akram Sheikh, Secretary Ministry of Industries and Production, Kamran Rasool, and Chairman Central Board of Revenue, Abdullah Yousaf, to prepare a 10
Copper prices edged higher on Wednesday, supported by low inventories and gains in gold, but trade remained subdued with the market waiting for US investors to return from holidays. London Metal Exchange copper for delivery in three months was up $25 at $
Prime Minister Shaukat Aziz has constituted a committee comprising Planning Commission Deputy Chairman Dr Akram Sheikh, Secretary Ministry of Industries and Production, Kamran Rasool, and Chairman Central Board of Revenue, Abdullah Yousaf, to prepare a 10
Tokyo gold futures rose to a one-month high on Wednesday as reports that North Korea had launched several missiles spurred buying of traditional safe-haven assets.
Gold rose more than 1 percent to around $630 an ounce on Wednesday, its highest level in a month, on safe-haven buying after North Korea's launch of several missiles.
Strong demand for Malaysian palm oil, mainly from China and Europe, is likely to boost prices and exports after months of slowdown, planters and traders said on Wednesday.
Oil prices opened flat after the US Independence Day holiday as traders awaited news of an expected record draw on gasoline stocks, with North Korean missile launches adding to geopolitical worries for the market.
Austria-based Entex Handles was the only bidder in a Bangladesh import tender for 25,000 tonnes of white sugar, offering supplies at $420 per tonne, an official said on Wednesday.
Coffee prices in Vietnam, the world's second-biggest producer after Brazil, hit a new year high of 19,000 dong ($1.19) per kilogram on Wednesday and traders said exporters were actively selling to cash in.
Fonterra Co-operative Group, New Zealand's biggest company, said on Wednesday that commodity prices were forecast to fall in the future, though demand for the company's dairy products would remain steady.
Indian sugar futures were mixed on Wednesday on higher supplies from mills, while soyaoil was down with the start of sowing. Wheat eased as monsoon rains helped sentiment for the next year's crop. The July sugar contract at the National Commodity and Deri
Rain over the past week in the Mekong Delta rice basket has prompted Vietnamese farmers to delay the harvest of the summer-autumn crop and made it difficult to dry the newly cut paddy, traders said on Wednesday.
Jollibee Foods Corp, the biggest fast-food chain in the Philippines, expects second quarter sales growth to be weaker than the first quarter due to higher costs, its chief financial officer said on Wednesday.
Jollibee Foods Corp, the biggest fast-food chain in the Philippines, expects second quarter sales growth to be weaker than the first quarter due to higher costs, its chief financial officer said on Wednesday.
The Australian Wool Exchange (AWEX) said its eastern market indicator (EMI) fell two cents to 747c a kg clean in the first sale of the new season on Tuesday. AWEX said its northern indicator, at the only sale of the day in Sydney, dropped 5 cents to 766c/
Tokyo rubber futures extended losses on Wednesday, with the most active contract falling nearly 3 percent due to improving supplies in main producer Thailand.
Malaysian crude palm oil futures ended marginally lower on Wednesday, with the market lacking direction due to the holiday closure of Chicago Board of Trade's soya oil futures market.
Saudi Arabia, the world's top oil exporter, raised nearly all August official selling prices for its crude oil to customers across the globe, industry sources said on Wednesday.
Russia must do more than lift its currency controls if it wants bigger foreign investment, and should avoid closing off too many sectors in the name of strategic or security interests, the OECD said on Wednesday.
Expensive oil and big new projects have boosted the value of international energy firms' stake in the Middle East, but they must still battle for access to the region's reserves, consultancy Wood Mackenzie said. Overall asset values have been increased by
New orders at US factories rose more than expected in May and private-sector job creation surged last month, according to reports on Wednesday that showed signs of strength in the economy.
Retail sales in the eurozone unexpectedly fell in May from April and grew little in annual terms, Eurostat said, pointing to continued fragility in consumer demand despite optimism about an economic recovery.
The Arab League has wired $50 million to Palestinian President Mahmoud Abbas to ease a fiscal crisis by providing humanitarian grants to government workers who have gone unpaid for months, an official said on Wednesday.
Rapid borrowing by households and businesses in aspiring European Union member countries, especially in foreign currencies, may make the region more vulnerable to financial crises, a central bank taskforce found.
European business activity struck a six-year high in June, a survey showed on Wednesday, but price rises could prompt faster interest rate increases in the eurozone although economic growth there may be peaking.
Apple Computer Inc on Wednesday said it will begin selling a version of its iMac personal computer for about $900 for the education market. The company, known for its popular iPod digital music and video player, said the new iMac will have a 17-inch liqui
European Union plans to cut the cost of making mobile phone calls abroad could include text messaging and downloading files, a move that is likely to anger mobile phone operators.
Asia Pacific and Middle East airlines could face serious shortages of skilled personnel such as pilots and engineers after record orders for new aircraft, an industry research group said Wednesday.
Russia's parliament approved a law on Wednesday granting gas monopoly Gazprom the exclusive right to export gas, despite Moscow's pledge to the European Union to gradually liberalise its markets.
Shares in Bank of China surged 23 percent on Wednesday in the Shanghai stock market's biggest debut, underscoring huge appetite for new shares among Chinese investors.
Shares in Bank of China surged 23 percent on Wednesday in the Shanghai stock market's biggest debut, underscoring huge appetite for new shares among Chinese investors.
Enron Corp founder and former Chief Executive Ken Lay, who was convicted in May for his role in the Houston-based company's downfall, died after suffering a heart attack on Wednesday at his vacation home in Colorado. "Ken Lay passed away early this mornin
New Zealand share prices closed 0.19 percent higher on Wednesday, with trading lacking direction following the July 4 holiday which closed Wall Street, dealers said. The benchmark NZX-50 index rose 6.94 points to 3,604.74 on turnover worth 127.9 million N
Malaysian share prices closed flat on Wednesday, losing initial gains to profit-taking amid concern in regional markets over North Korea's missile tests, dealers said. However, underlying market sentiment, supported by strong export data for May, was stil
Taiwan stocks ended 1.11 percent lower to a four-day low on Wednesday, weighed down by tech issues like TSMC as news of North Korea test-fired missiles raised political tensions in the region.
Philippines share prices closed 0.26 percent higher on Wednesday to hit their best levels in about a month as investors were cheered by news that inflation had slowed in June, dealers said.
The Nikkei average fell for the first time in five sessions on Wednesday, declining 0.73 percent after a series of missile tests by North Korea raised fears about security in Asia. Shares of some of Japan's flagship firms were among the decliners, with au
Hong Kong stocks ended down 0.62 percent on Wednesday as recent gains in mainland banks triggered profit-taking in lenders like Bank of China, whose shares debuted in Shanghai to a strong reception.
Singapore share prices closed 1.01 percent lower on Wednesday due to an absence of fresh leads and on regional security concerns following North Korea's missile tests, dealers said. The Straits Times Index dipped 24.62 points to 2,424.11 on volume of 1.24
Thai share prices closed 1.99 percent lower on Wednesday as investors stayed on the sidelines amid concern over North Korea's missile launches, dealers said. They said the Thai market was also under pressure due to profit-taking.
Most Chinese stocks fell on Wednesday although a strong debut by Bank of China lifted the benchmark Shanghai index. China's second largest bank closed at 3.79 yuan, up 23 percent from its domestic initial public offer price of 3.08 yuan and in line with t
Indian share prices closed up 2.41 percent on Wednesday on expectations of a strong earnings performance by Indian companies when the results season gets under way next week, dealers said.
Indonesian share prices closed flat on Wednesday ahead of the central Bank Indonesia's interest rate meeting this week with telecoms and select banks pressured by some profit-taking, dealers said. But overall sentiment remained positive as June inflation
The Swiss franc traded flat on Wednesday after hitting a two-month low in the previous session on the perception that euro-zone interest rates would rise faster than those in Switzerland.
China's yuan traded narrowly against the dollar on Wednesday as a dollar short squeeze, which had kept the Chinese currency under pressure for two days, appeared to fade. The yuan was at 7.9960, firmer than Tuesday's close of 7.9995, as the central bank s
The yen recovered on Wednesday from a fall against the dollar and a record low versus the euro after missile launches by North Korea provided only a limited distraction from interest rates.
The Australian dollar rallied to its highest level in nearly four weeks on Wednesday as the gold price firmed more than 1 percent in the wake of North Korea's test-launches of several missiles.
Most Asian currencies ended a three-session rally on Wednesday, dropping from multi-week peaks after news that North Korea had launched several missiles stoked concern about geopolitical risk, spooking traders and investors.
The Hong Kong dollar hit a 10-month lows against the US dollar on Wednesday, pressured by interest-rate arbitrage trades and a fall in most Asian currencies after North Korea had launched missiles raised concerns of geopolitical risks.
The 2007 World Cup is facing an accommodation shortage, the managing director of the tournament admitted on Wednesday. Chris Dehring is so concerned that he had has appealed to fans to seek accommodation early for the March 5 to April 28 event.
Germany manager Jurgen Klinsmann admitted Tuesday's 2-0 World Cup semi-final loss to Italy was a bitter pill that would take some time to swallow, but lavished praise on his team saying they had done him and the host nation proud.
Kim Clijsters and Justine Henin-Hardenne meet for the 22nd time on Thursday with the two Belgians keen to bury the legacy of their bitter history in their quest for a place in the Wimbledon final. The pair may be compatriots but they have endured a frosty
German football fans, down in the dumps after their country's World Cup semi-final loss to Italy, were Wednesday waiting with bated breath to see if the man who has transformed the team's previously stolid mentality would stay at the helm.
Italy's march into the World Cup final at the expense of Germany was met with banner headlines in the Italian press on Wednesday. The 2-0 extra-time win over the hosts in Dortmund was an historic one for the Italians "who could beat anyone - even the Mart
Roger Federer demolished Croatian dangerman Mario Ancic 6-4, 6-4, 6-4 on Wednesday to move just two wins away from a fourth consecutive Wimbledon title.
Gamblers in Atlantic City's casinos were ordered to leave the tables and slot machines on Wednesday because of a budget crisis in the state legislature.
More than half the presidential candidates in Congo's landmark elections this month have called for the suspension of campaigning in a row over the printing of millions of extra ballot papers.
After writing "The Motorcycle Diaries" screenplay, Jose Rivera felt he had more to say about Ernesto "Che" Guevara so he wrote a play he says shows the Latin American revolutionary would have had plenty to say about the war in Iraq.
The Israeli citizens of Ashkelon knew it was only a matter of time before a rocket from the Gaza Strip hit their coastal city. A day after a makeshift missile struck near the city centre, residents joined calls on Prime Minister Ehud Olmert's government o
Mexican leftist candidate Andres Manuel Lopez Obrador warned on Wednesday the country's stability was at stake as a political crisis brewed over the bitterly contested presidential election.
Jordan's prosecutor general has started an investigation into alleged financial irregularities at the main charity of the powerful Muslim Brotherhood, officials said on Wednesday.
Israel's prime minister ordered the army on Wednesday to expand an offensive against the ruling Palestinian movement Hamas after its armed wing fired a missile from Gaza into a major Israeli city for the first time.
Large tracts of India's western financial hub of Mumbai were under water Wednesday as the weather bureau warned further heavy rains were on the way and the death toll from the monsoon deluge rose to nine.
The Organisation of the Islamic Conference (OIC) called on the international community Wednesday to "intervene urgently" to bring an end to Israeli attacks on Palestinians, a statement said.
The United States would like Iran to respond by July 12 to a US-backed offer of incentives aimed at containing Iran's nuclear program, the White House said on Wednesday.
Iran postponed crucial nuclear talks with the European Union on Wednesday in apparent anger at an exiled opposition leader's visit to the European Parliament, but the meeting will go ahead on Thursday.
Two Italian spy chiefs were arrested on Wednesday and a judge issued arrest warrants for four Americans over the alleged CIA kidnapping of a terrorism suspect in Milan in 2003, officials said.
Somali Islamist militia shot dead two people demanding to watch the World Cup semi-final, witnesses said on Wednesday, in the latest sign of a hard-line religious edge to the newly powerful movement. Four others were wounded in the fracas outside a cinema
There is no military solution to Sri Lanka's separatist conflict, outgoing US Ambassador Jeffrey Lunstead said, as daily bloodshed has raised fears of renewed war.
Some of Washington's Western allies are seeking to end a US-driven de facto ban on transfers of nuclear fuel technology to countries wishing to enrich uranium for electricity production, diplomats say.
Iraq's new government demanded an independent inquiry on Wednesday into charges US soldiers raped and murdered a teenager and killed her family, and said foreign troops' immunity from Iraqi law should be reviewed.
