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Print - 2007-03-24
Plane crashes on third day of Mogadishu fighting

Plane crashes on third day of Mogadishu fighting

A plane carrying 11 people burst into flames and crashed in north Mogadishu on Friday during the third day of clashes between rebels and government troops backed by Ethiopian soldiers, officials said.
Published 24 Mar, 2007 12:00am
18,000 Afghans return home

18,000 Afghans return home

More than 18,000 Afghans have so far returned home from Pakistan since this year's voluntary repatriation started from March 1. This comes amid increased checks at the voluntary repatriation centers (VRCs) to prevent abuse of the system.
Published 24 Mar, 2007 12:00am
Government urged to cut duty on black tea to stop smuggling

Government urged to cut duty on black tea to stop smuggling

The import of black tea through legal channels declined by 24 percent in 2006, as compared to 2005, while under Afghan Transit Trade Agreement (ATTA) there has been increasing trend at more than 10 percent annually.
Published 24 Mar, 2007 12:00am
Two Modarabas get MAP awards

Two Modarabas get MAP awards

For the first time two modarabas have been honoured by award of Trophy and Certificate of Excellence for their overall performance and following good management practices.
Published 24 Mar, 2007 12:00am
Bazmi's death condoled

Bazmi's death condoled

Sindh Governor Dr Ishrat-ul-Ebad on Friday expressed his heartfelt sorrow over the demise of prominent musician of the country, Nisar Bazmi. Appreciating the services of Nisar Bazmi, Governor Ibad said that the deceased was an asset for the country. Syed
Published 24 Mar, 2007 12:00am
Soap industry wants tax anomalies removed in budget

Soap industry wants tax anomalies removed in budget

Soap industry has demanded of the Central Board of Revenue (CBR) to remove anomalies in the upcoming budget 2007-08. In budget suggestions 2007-08 received by Federation of Pakistan Chambers of Commerce and Industry (FPCCI).
Published 24 Mar, 2007 12:00am
France enjoys excellent defence ties with Pakistan: envoy

France enjoys excellent defence ties with Pakistan: envoy

French ambassador to Pakistan Regis de Belenet has said that efforts should be made to find solutions to the root-causes of the conflicts through peaceful means and poverty alleviation instead of using only force to fight war against terror.
Published 24 Mar, 2007 12:00am
Saarc conference on paediatrics surgery opens today

Saarc conference on paediatrics surgery opens today

Federal Minister for Health Nasser Khan is inaugurating the first ever Saarc conference on paediatrics surgery in Pakistan on Saturday, March 24 at King Edward Medical University.
Published 24 Mar, 2007 12:00am
102 additional posts for National Assembly Secretariat created

102 additional posts for National Assembly Secretariat created

The National Assembly Secretariat has created 102 additional posts of various grades on temporary basis to 'overcome the shortage of staff', NA sources said. These posts were approved in a recent meeting presided over by National Assembly Speaker Chaudhry
Published 24 Mar, 2007 12:00am
Environmental monitoring system

Environmental monitoring system

A national project for the establishment of Environmental Monitoring System is being initiated from April. According to official sources, countrywide environmental monitoring activities will be undertaken from the platform of National Environmental Protec
Published 24 Mar, 2007 12:00am
Rains, snowfall in AJK: mudslides claim 37 lives, 450 families evacuated

Rains, snowfall in AJK: mudslides claim 37 lives, 450 families evacuated

Intermittent rains and snowfall during the last three days in earthquake-affected areas of Azad Kashmir have claimed at least 37 lives and forced evacuation of some 450 families. The rain triggered landslides, cut access to road and diverted water channel
Published 24 Mar, 2007 12:00am
Bilour named APCCI chairman

Bilour named APCCI chairman

Former president, Federation of Pakistan Chamber of Commerce & Industry (FPCCI), and leader of Business Forum of Pakistan, Senator Ilyas Ahmad Bilour on Friday was nominated as chairman of the newly established Afghan-Pak Chamber of Commerce & Industry (A
Published 24 Mar, 2007 12:00am
Registration of BA/BSc (Private) continues

Registration of BA/BSc (Private) continues

Registration for private candidates who are desirous to appear in B.A/BSc annual examinations 2008 has been started from 1st March 2007 and will continue up to 30th June, 2007. Candidates passing intermediate or equivalent exam in 2006 are eligible for th
Published 24 Mar, 2007 12:00am
Moot on psychological research

Moot on psychological research

Punjab University Department of Psychology and Applied Psychology will hold a three-day national conference on 'New trends in psychological research' from April 5 to 7 next. Renowned national psychologists will present their papers in the conference.
Published 24 Mar, 2007 12:00am
'Nawaz-Benazir meeting removes misunderstandings'

'Nawaz-Benazir meeting removes misunderstandings'

Alliance for Restoration of Democracy Chairman Makhdoom Amin Fahim says that Nawaz Sharif and Benazir Bhutto meeting have removed several misunderstandings. Talking to NNI through telephone on Friday, Amin Fahim noted that the two leaders also decided to
Published 24 Mar, 2007 12:00am
WHO, ministry organise training for CDA staff

WHO, ministry organise training for CDA staff

The World Health Organisation (WHO) in collaboration with ministry of Health organised training session for CDA staff on proper use of personal protective equipment and safe disposal of dead birds infected with bird flu.
Published 24 Mar, 2007 12:00am
Tuberculosis on rise in Pakistan

Tuberculosis on rise in Pakistan

The scourge of tuberculosis is rapidly increasing in Pakistan like other third world countries and, according to estimates, some 300,000 patients are adding up in the number of TB patients every year in the country.
Published 24 Mar, 2007 12:00am
PPL to improve skilled staff salary structure to check exodus

PPL to improve skilled staff salary structure to check exodus

Pakistan Petroleum Limited (PPL) plans to improve the salary structure of its technical and skilled staff to stop their movement to other exploration & production (E&P) companies, which are offering better remuneration packages to them.
Published 24 Mar, 2007 12:00am
Sino-Pak ties promoting regional, global peace: Prime Minister

Sino-Pak ties promoting regional, global peace: Prime Minister

Prime Minister Shaukat Aziz has said that Pakistan and China as close friends will continue to play a major role for peace, progress and prosperity in the region and the world. Addressing a 100-member Chinese youth delegation at the Prime Minister House o
Published 24 Mar, 2007 12:00am
All Kashmir quake camps to be closed by June

All Kashmir quake camps to be closed by June

Authorities in Azad Kashmir have announced plans to close by the end of June all tented camps housing thousands of people displaced by a massive 7.6-magnitude earthquake in October 2005. About 30,000 quake-displaced people, comprising more than 5,000 fami
Published 24 Mar, 2007 12:00am
Nation celebrates Pakistan Day with fervour and solemnity

Nation celebrates Pakistan Day with fervour and solemnity

The entire nation on Friday celebrated the Pakistan Day with due fervour and solemnity. The Day dawned with 31-gun salute in the Federal Capital and 21-gun salutes in the provincial capitals. Prayers were offered in the mosques for the solidarity and well
Published 24 Mar, 2007 12:00am
Pakistan Day celebrations in Beijing

Pakistan Day celebrations in Beijing

An impressive flag hoisting ceremony performed by Ambassador Salman Bashir was held at Pakistan Embassy to mark the 67th Pakistan Day celebration here on Friday. The Ambassador after performing the flag hoisting ceremony read the messages of President Per
Published 24 Mar, 2007 12:00am
Pakistan Day celebrated abroad with full enthusiasm

Pakistan Day celebrated abroad with full enthusiasm

Pakistan High Commission here celebrated the 67th Pakistan Day with traditional enthusiasm on Friday. The programme of the day started with the flag hoisting ceremony in the High Commission compound. Pakistan High Commissioner Alamgir Babar hoisted the na
Published 24 Mar, 2007 12:00am
Lawyers to continue protest

Lawyers to continue protest

The lawyers' community will continue its protest against suspension of Chief Justice of Pakistan, Iftikhar Mohammad Chaudhry. They will also observe token strike from 10.30 am to 11.30 am from Saturday (today) onward. The bars will also hold hunger strike
Published 24 Mar, 2007 12:00am
Change of guards ceremony held at Iqbal's mausoleum

Change of guards ceremony held at Iqbal's mausoleum

An impressive guard mounting ceremony was held at the mausoleum of poet-philosopher, Allama Dr Muhammad Iqbal to mark 67th Pakistan Day on Friday. A smartly turned out contingent of Pakistan Air Force (PAF) took over guard duties from Satluj Rangers who h
Published 24 Mar, 2007 12:00am
Softening of price pressures

Softening of price pressures

The latest data on inflation seems to be somewhat encouraging. CPI during February, 2007, according to the Federal Bureau of Statistics (FBS), rose by 7.4 percent as against 8.05 percent in the corresponding month last year. The decline in the rate of inf
Published 24 Mar, 2007 12:00am
A case for the petitioners

A case for the petitioners

Judiciary is very much in the news these days. Judges after judges, from superior as well as lower courts, have been resigning in protest over the Presidential reference against the "now inactive" Chief Justice Iftikhar Mohammad Chaudhry. Lawyers are seen
Published 24 Mar, 2007 12:00am
Clashes in South Waziristan

Clashes in South Waziristan

Clashes in South Waziristan between local Pushtun tribesmen and Uzbek militants that erupted early this week have intensified with mounting casualties on both sides. Unconfirmed reports from the strife-ridden area put the figures of the dead between 106 a
Published 24 Mar, 2007 12:00am
The state of the rule of law in Pakistan

The state of the rule of law in Pakistan

"The clearest way to show what the rule of law means to us in everyday life is to recall what has happened when there is no rule of law." [Dwight David Eisenhower, 1890-1969] "I would have government defend the life and property of all citizens equally; p
Published 24 Mar, 2007 12:00am
EU mulls its own version of the US green card scheme

EU mulls its own version of the US green card scheme

Inspired by the famous American "green card" scheme, the European Commission is considering introducing its own "blue card" system to attract more qualified immigrants. An impact assessment is currently being drawn up and will be ready "in the next two mo
Published 24 Mar, 2007 12:00am
Baghdad by night - gunfire and television

Baghdad by night - gunfire and television

Television, DVDs and computer games - that's entertainment in war-torn Baghdad. That is, if you're lucky. Even the simple pleasure of sharing dinner with friends and relatives has fallen victim to fear of sectarian death squads and, more recently, by a st
Published 24 Mar, 2007 12:00am
Plight of pensioners

Plight of pensioners

I humbly request the President of NBP to visit its branch at Rahimabad, Gulberg Town, Karachi just to see the deplorable condition of poor, feeble and wrinkled with age pensioners of EOBI as the monthly pension is paid to old people only whose status as g
Published 24 Mar, 2007 12:00am
Insecure and faulty ATM booths

Insecure and faulty ATM booths

The letter of Miss. Erum Qureshi on 'Insecure and faulty ATM Booths' published in your issue of 11 March 2007, truly speaks of the common problems being faced by many account holders at many ATM booths in daily routine without any remedial measures.
Published 24 Mar, 2007 12:00am
500 acres land acquired for engineering university

500 acres land acquired for engineering university

The Punjab government has acquired as many as 500 acres of a suitable land near Sambrial along the main Sialkot-Sambrial-Wazirabad Road for establishment of an international standard engineering university.
Published 24 Mar, 2007 12:00am
New Islamist group denies al Qaeda link

New Islamist group denies al Qaeda link

Wrapped in a black-and-white-chequered Arab headdress, the leader of a new Palestinian Islamist group Fatah al-Islam denied the group had links to al Qaeda or any other organisations and vowed that the group would defend itself.
Published 24 Mar, 2007 12:00am
Reconstruction top priority: AJK chief secretary

Reconstruction top priority: AJK chief secretary

The newly appointed Chief Secretary of Azad Kashmir Major Javed Majeed (Retd) has said that the reconstruction of AJK cities destroyed in the October 2005 earthquake would be his first priority.
Published 24 Mar, 2007 12:00am
UNFPA moot on MDGs on March 27

UNFPA moot on MDGs on March 27

Young people from all provinces will assemble in Islamabad to participate in UNFPA conference on 'MDGs and Youth Empowerment' being held here at a local hotel on Tuesday. Pakistan currently has the largest cohort of young people in its history.
Published 24 Mar, 2007 12:00am
Kashmiris celebrate Pakistan Day

Kashmiris celebrate Pakistan Day

With a dazzling zest to affix their destiny with Pakistan, the Kashmiris dwelling on either side of the Line of Control celebrated the sanctified Pakistan Day on Friday in a befitting manner.
Published 24 Mar, 2007 12:00am
Six benches constituted for next week

Six benches constituted for next week

Acting Chief Justice of Pakistan, Justice Javed Iqbal has constituted six benches of the apex court for the next week starting from March 26 to hear hundreds of cases at Islamabad, Lahore and Karachi Registries.
Published 24 Mar, 2007 12:00am
Nisar Bazmi laid to rest

Nisar Bazmi laid to rest

Country's revered music composer Nisar Ahmed Bazmi was buried on Friday near his residence in North Karachi. He left a widow three sons and four daughters to mourn his death. He died late on Thursday night at Agha Khan University Hospital in Karachi after
Published 24 Mar, 2007 12:00am
US MIDDAY: gold futures fall

US MIDDAY: gold futures fall

US gold futures dropped 1 percent Friday morning as investors locked in solid profits from the past several sessions, and higher crude oil prices and geopolitical tensions kept the precious metal from falling further.
Published 24 Mar, 2007 12:00am
US MIDDAY: copper hits three-month high

US MIDDAY: copper hits three-month high

New York copper futures rallied overnight to levels last hit December 12, retreated briefly, then renewed their healthy gains Friday morning on a surprising jump in US home sales, traders said.
Published 24 Mar, 2007 12:00am
US MIDDAY: soyabeans firm

US MIDDAY: soyabeans firm

Soyabean futures at the Chicago Board of Trade were firm midday Friday, supported by the rally in soyabean oil to contract highs, traders said. Soyaoil was mimicking the strength in the crude oil, which climbed on Iran's seizure of British naval personnel
Published 24 Mar, 2007 12:00am
US MIDDAY: wheat lower

US MIDDAY: wheat lower

Soft red winter wheat futures at the Chicago Board of Trade turned lower by midsession on Friday as bearish fundamentals, including good US crop weather, triggered light speculative selling, traders said.
Published 24 Mar, 2007 12:00am
US MIDDAY: corn turns mixed

US MIDDAY: corn turns mixed

Corn futures at the Chicago Board of Trade were mixed in choppy dealings on Friday as traders await the release next Friday of USDA's March planting intentions report.
Published 24 Mar, 2007 12:00am
Gold slips in London

Gold slips in London

Gold fell 1.5 percent on Friday from its previous session's three-week high, as a rise in the dollar after better-than-expected US existing home sales prompted investors to take profits ahead of the weekend. But traders said the drop would be limited beca
Published 24 Mar, 2007 12:00am
Tin touches new high, nickel drops seven percent

Tin touches new high, nickel drops seven percent

Nickel shed over seven percent on the London Metal Exchange on Friday as investors took profits ahead of what analysts said would be a more balanced market in the second half of 2007. But tin bucked the falling trend and hit a new high - it touched a peak
Published 24 Mar, 2007 12:00am
London cocoa down

London cocoa down

London cocoa futures hit a fresh 3-1/2 year peak on Friday before running into profit-taking and closing slightly lower, dealers said. "I think we went too fast, too soon," one dealer said, adding the market had become overbought following its recent adva
Published 24 Mar, 2007 12:00am
Soya yields on Brazil farming frontier seen record

Soya yields on Brazil farming frontier seen record

Good rainfall earlier in the season is contributing to record soyabean yields in western Bahia state, one of the frontier areas of Brazil's soy belt, producers and suppliers said. The greater humidity, however, also requires greater application of fungici
Published 24 Mar, 2007 12:00am
Oil rises after Iran captures UK navy personnel

Oil rises after Iran captures UK navy personnel

Oil rose above $62 to a three-month high on Friday after Iran seized 15 British navy personnel, raising concerns about renewed tension between the oil producer and the West. US crude settled up 59 cents at $62.28 a barrel, adding to gains of more than $2
Published 24 Mar, 2007 12:00am
Commodity investors face daunting mix of products

Commodity investors face daunting mix of products

Investments in commodities have exploded over the past three years and while investors are feasting on a smorgasbord of funds and products, the sheer number of options in the market is giving many a bellyache.
Published 24 Mar, 2007 12:00am
China soya outlook bearish, wheat strong

China soya outlook bearish, wheat strong

Chinese traders' outlook for soyabean, soya products and corn remains bearish for next week while wheat has picked up, a survey by a Chinese think tank showed on Friday. The soyabean outlook turned bearish after week-high US soyabean prices slowed down pu
Published 24 Mar, 2007 12:00am
New York cotton futures mixed

New York cotton futures mixed

Cotton futures settled mixed Friday in another quiet session as most players awaited next week's potential plantings report by the government, brokers said. New York Board of Trade's May cotton contract closed up 0.05 cent at 53.27 cents per lb after trad
Published 24 Mar, 2007 12:00am
FTSE notches up five-day winning streak

FTSE notches up five-day winning streak

Britain's benchmark share index ended the week on a positive note, as oil stocks and M&A chatter helped European shares score their first five-day winning streak since recent slides in world equities. M&A talk lifted shares in Pearson to a five-year high.
Published 24 Mar, 2007 12:00am
Seoul shares dip

Seoul shares dip

Seoul shares fell 0.1 percent on Friday as a surge in oil prices hit energy cost-sensitives firms such as KEPCO, while exporters retreated on worries the won currency would strengthen against the Japanese yen. The benchmark Korea Composite Stock Price Ind
Published 24 Mar, 2007 12:00am
US Stocks: Friday's late afternoon trade

US Stocks: Friday's late afternoon trade

US stocks were little changed on Friday as a rise in oil prices triggered by Middle East tensions boosted energy stocks but weighed on the broad market. Gains on the Nasdaq market were stemmed by shares of Amgen Inc after the world's largest biotechnology
Published 24 Mar, 2007 12:00am
Chinese main index flat

Chinese main index flat

Chinese main stock index ended little changed on Friday after testing lower. Most shares rebounded in late trade but heavily weighted banks and property stocks were weak. "Today's correction was expected, before the index establishes itself firmly above 3
Published 24 Mar, 2007 12:00am
Bonds: Valeo soars on bid approach, Daimler tightens

Bonds: Valeo soars on bid approach, Daimler tightens

Credit default swaps on France's Valeo soared on Friday, after the car parts group confirmed it had received a bid approach, while carmaker DaimlerChrysler's CDSs tightened on hopes it is close to selling its Chrysler unit.
Published 24 Mar, 2007 12:00am
Bonds: Valeo soars on bid approach, Daimler tightens

Bonds: Valeo soars on bid approach, Daimler tightens

Credit default swaps on France's Valeo soared on Friday, after the car parts group confirmed it had received a bid approach, while carmaker DaimlerChrysler's CDSs tightened on hopes it is close to selling its Chrysler unit.
Published 24 Mar, 2007 12:00am
Yen rises across the board

Yen rises across the board

The yen rose across the board on Friday, reversing losses made earlier this week as investors bought back the Japanese currency they had previously sold to buy higher-yielding assets. The dollar steadied against other major currencies, having hit a two-ye
Published 24 Mar, 2007 12:00am
Sterling falls versus yen and dollar

Sterling falls versus yen and dollar

Sterling fell against the yen and the dollar on Friday as investors took profits on the pound after a week of strong gains. The pound's gains of around 1 percent this week on a trade-weighted basis were driven by increased confidence the Bank of England w
Published 24 Mar, 2007 12:00am
US missile plan 'real threat' to Russia: foreign minister

US missile plan 'real threat' to Russia: foreign minister

A US plan to deploy an anti-missile defence system in eastern Europe against potential attacks from Iran threatens Russia and undermines co-operation in the United Nations, Russian Foreign Minister Sergei Lavrov said Friday.
Published 24 Mar, 2007 12:00am
Citigroup looking into a bid for ABN Amro

Citigroup looking into a bid for ABN Amro

Some executives within Citigroup are pushing for the US banking giant to make a bid for ABN Amro, which is in discussions about a possible merger with Barclays, the Wall Street Journal reported on Friday.
Published 24 Mar, 2007 12:00am
New Zealand shares dip

New Zealand shares dip

New Zealand share prices closed 0.29 percent lower on Friday, drifting downwards with a lack of direction, dealers said. The benchmark NZX-50 index closed 11.98 points down at 4,064.05 on turnover worth 118.05 million dollars (83.14 million US).
Published 24 Mar, 2007 12:00am
Nikkei ends at three-week high

Nikkei ends at three-week high

The Nikkei average rose 0.35 percent on Friday as investors picked up laggards like Mitsubishi UFJ Financial Group and other bank shares, while a softer yen boosted auto shares such as Honda Motor Co Ltd Drug maker Eisai Co advanced 1.7 percent after it s
Published 24 Mar, 2007 12:00am
Malaysian shares finish 1.14 percent higher

Malaysian shares finish 1.14 percent higher

Malaysian share prices closed 1.14 percent higher on Friday, extending gains to a seventh straight day after the government announced major incentives for the property sector, dealers said. Prime Minister Abdullah Ahmad Badawi on Thursday announced at a m
Published 24 Mar, 2007 12:00am
Philippines stocks tumble

Philippines stocks tumble

Philippines share prices closed 0.26 percent lower on Friday as a lack of leads resulted in mixed trade as some investors opted to take some profits ahead of the weekend, dealers said. Buying in select blue chips like Ayala Corp and SM Investments helped
Published 24 Mar, 2007 12:00am
Indian shares fall

Indian shares fall

Indian share prices closed down 0.17 percent on Friday, snapping four straight days of gains as investors took profits after a sharp rally led by global trends, dealers said. They said the markets may weaken next week on expectations of a local rate hike,
Published 24 Mar, 2007 12:00am
US Treasury debt prices slump

US Treasury debt prices slump

US Treasury debt prices fell on Thursday, erasing the previous session's sharp gains, on doubts whether a softening of the Federal Reserve's tone on inflation would produce a rate cut soon. Perceived chances of a rate cut by the end of June, as shown by U
Published 24 Mar, 2007 12:00am
US Treasury debt prices slump

US Treasury debt prices slump

US Treasury debt prices fell on Thursday, erasing the previous session's sharp gains, on doubts whether a softening of the Federal Reserve's tone on inflation would produce a rate cut soon. Perceived chances of a rate cut by the end of June, as shown by U
Published 24 Mar, 2007 12:00am
US shares flat

US shares flat

US stocks barely budged on Thursday as investors consolidated Wednesday's gains and re-evaluated expectations that the Federal Reserve's next policy move will be an interest rate cut. Motorola Inc added to the cautious mood on Wall Street after the mobile
Published 24 Mar, 2007 12:00am
Hong Kong stocks slightly changed

Hong Kong stocks slightly changed

Hong Kong blue chips paused on Friday after gaining for four straight days, but China plays marked their seventh straight gaining session as investors bid up Sinopec Corp amid expectations of improving margins.
Published 24 Mar, 2007 12:00am
Singapore shares finish lower

Singapore shares finish lower

Singapore share prices closed 0.43 percent lower on Friday on a lack of fresh leads and as investors consolidated a series of strong gains made this week, dealers said. The Straits Times Index was down 13.69 points at 3,205.82. Volume was 1.33 billion sha
Published 24 Mar, 2007 12:00am
Taiwan stocks continue winning streak

Taiwan stocks continue winning streak

Taiwan stocks rose 0.46 percent on Friday to a 3-1/2-week closing high, led by shares such as Hon Hai, but Asustek dropped after a joint venture with smaller rival Gigabyte was called off. The main TAIEX share index gained 35.65 points to end at 7,859.32,
Published 24 Mar, 2007 12:00am
China seen topping US carbon emissions in 2007

China seen topping US carbon emissions in 2007

China is on course to overtake the United States this year as the world's biggest carbon emitter, estimates based on Chinese energy data show, potentially pressuring Beijing to take more action on climate change.
Published 24 Mar, 2007 12:00am
South Korea's top airport gets new rail link

South Korea's top airport gets new rail link

A high-speed railway linking South Korea's main airport to the suburbs of Seoul opened Friday, amid hopes it will bolster the chances of Incheon becoming one of the world's top airports.
Published 24 Mar, 2007 12:00am
Livedoor fined $2.4 million over fraud scandal

Livedoor fined $2.4 million over fraud scandal

A Japanese court on Friday fined the disgraced Internet firm Livedoor Co 280 million yen (2.4 million dollars) for falsifying its earnings, a court official said. The Tokyo District Court's latest punishment follows the conviction of Livedoor founder Taka
Published 24 Mar, 2007 12:00am
TNK-BP to bid in Yukos sale; BP bosses meet Putin

TNK-BP to bid in Yukos sale; BP bosses meet Putin

BP's Russian venture unveiled a surprise bid on Friday for a $9 billion stake in state-controlled oil firm Rosneft, just as its top executives arrived in Moscow to meet President Vladimir Putin.
Published 24 Mar, 2007 12:00am
Japan keeps foreign exchange reserves make-up

Japan keeps foreign exchange reserves make-up

Japan has no plans to divert its foreign currency reserves - the world's second largest - out of dollars and will not sell foreign assets to help redeem its government bonds, Finance Minister Koji Omi said on Friday.
Published 24 Mar, 2007 12:00am
Malaysian palm oil futures jump

Malaysian palm oil futures jump

Malaysian crude palm oil futures rose 2 percent on Friday as soybean oil strengthened in the United States and there was strong buying, dealers said. The benchmark third-month June contract on the Bursa Malaysia Derivatives Exchange finished up 39 ringgit
Published 24 Mar, 2007 12:00am
Malaysian tin hits new high

Malaysian tin hits new high

Malaysian tin rose to a fresh high of $14,130 on Friday, boosted by higher prices on the London Metal Exchange, one trader said.
Published 24 Mar, 2007 12:00am
Shanghai copper rises

Shanghai copper rises

Shanghai copper climbed 2 percent on Friday, after a 1.8 percent rally in London copper on the back of a statement by the US Federal Reserve on interest rates. Shanghai Futures Exchange June copper rose 1,230 yuan to 62,240 yuan ($8,058) a tonne at the cl
Published 24 Mar, 2007 12:00am
Australian wool indicator climbs

Australian wool indicator climbs

The Australian Wool Exchange (AWEX) said its eastern market indicator (EMI) rose 3 cents from to 943c a kg clean at sales on Thursday. AWEX said its northern indicator at sales in Sydney rose 4 cents to 977c/kg, the southern indicator at sales in Melbourn
Published 24 Mar, 2007 12:00am
New York sugar up to firm close

New York sugar up to firm close

Raw sugar futures rambled to a firm close on Thursday on buying by small speculators and spread business, with a dearth of news seen keeping the market range-bound for now, brokers said. The New York Board of Trade's May raw sugar contract rose 0.03 cent
Published 24 Mar, 2007 12:00am
Soybeans rally as November 2008 hits contract top

Soybeans rally as November 2008 hits contract top

Soybean futures at the Chicago Board of Trade rose on Thursday, led higher by the 2008 contracts, traders said. "It's interesting with what's happening with November '08. The deferred months are leading the rally as there's concern about getting enough ac
Published 24 Mar, 2007 12:00am
CBOT rice sinks

CBOT rice sinks

Chicago Board of Trade rough rice futures sank on Thursday on follow-through technical sales, with added pressure from reminders of a disappointing US export pace, traders said. May rice ended 9-1/2 cents per hundredweight lower at $10.13-1/2. The back mo
Published 24 Mar, 2007 12:00am
Tocom rubber lower

Tocom rubber lower

Tokyo rubber future ended lower on Friday as investors took profit ahead of the weekend, but prices were still supported by a rise in other commodities. The benchmark rubber contract on Tokyo Commodity Exchange for August delivery settled at 278.5 yen ($2
Published 24 Mar, 2007 12:00am
Qantas bid in disarray as shareholder rejects offer

Qantas bid in disarray as shareholder rejects offer

An $8.7 billion bid for Qantas Airways Ltd, the world's biggest airline take-over, was in disarray on Friday after a key shareholder said it would vote against the offer, forcing the buyout group to rethink its deal.
Published 24 Mar, 2007 12:00am
US existing home sales up

US existing home sales up

The pace of US existing home sales unexpectedly rose in February, increasing 3.9 percent to a 6.69 million-unit annual rate as mild weather spurred home buying, the National Association of Realtors said on Friday.
Published 24 Mar, 2007 12:00am
IMF warns of growing risk from US subprime woes

IMF warns of growing risk from US subprime woes

Increasing defaults on subprime loans in the United States could spread to other markets and sectors of the US economy, the head of the International Monetary Fund warned on Friday.
Published 24 Mar, 2007 12:00am
General Electric to buy Sanyo Credit for $1.1 billion

General Electric to buy Sanyo Credit for $1.1 billion

General Electric Co said on Friday it would launch a $1.14 billion take-over bid for leasing firm Sanyo Electric Credit Co to further expand into Japan's $68 billion leasing market. The deal will also lead to a windfall gain for top shareholder Goldman Sa
Published 24 Mar, 2007 12:00am
WTO urges Canada to overhaul farm trade barriers

WTO urges Canada to overhaul farm trade barriers

Canada should dismantle "significant" trade barriers it uses to protect its dairy and other agricultural producers, the World Trade Organisation (WTO) said on Wednesday. In a review of Canadian trade policies, the WTO said Ottawa applies tariffs exceeding
Published 24 Mar, 2007 12:00am
Thai stocks up

Thai stocks up

Thai share prices closed 0.44 percent higher on Friday, led by gains in energy stocks as oil prices climbed while the banks also attracted attention in an otherwise subdued market, dealers said. The Stock Exchange of Thailand (SET) composite index gained
Published 24 Mar, 2007 12:00am
French consumer spending falls

French consumer spending falls

French consumer spending on manufactured goods fell in February but analysts said the pullback was to be expected after a string of strong gains and posed no risk to the outlook for growth. Household spending, which has been the driving force behind econo
Published 24 Mar, 2007 12:00am
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