News Archives for Print - 2008-05-02

New York sugar settles mixed

Raw sugar futures ended mixed on Wednesday as the market consolidated recent losses and the trade mulled how much sugar was going to be delivered as the May contract expired, brokers said.The key July sugar contract eased 0.06 cent to end at 11.81 cents p

Published 02 May, 2008 12:00am

Oil rises to near $115

Oil futures rose to near $115 a barrel on Thursday, gaining support from an interest rate cut by the US Federal Reserve and the extension of an oil workers' strike in Nigeria. US crude for June was trading up $1.16 at $114.62 a barrel by 0700 GMT, while L

Published 02 May, 2008 12:00am

Tokyo rubber reverses gains to fall

Tokyo rubber futures fell by midsession on Thursday, reversing earlier gains as a firming yen versus the dollar weighed on yen-based prices. The key Tokyo Commodity Exchange rubber contract for October delivery ended the morning session down 0.7 yen or 0.

Published 02 May, 2008 12:00am

LME copper firm

Base metals firmed on Thursday in thin Asia trading, finding support from the latest cut in US interest rates aimed at warding off a recession in the world's biggest economy. US data showing economic growth was slightly stronger than expected in the first

Published 02 May, 2008 12:00am

US copper closed higher

The US copper futures closed higher on Wednesday, then climbed further in after-hours trade as investors bought the red metal following a Federal Reserve interest rate cut and a statement that traders said left open the possibility the Fed would loosen cr

Published 02 May, 2008 12:00am

Galiform kitchen sales shrug off property gloom

UK kitchen maker Galiform Plc said on Thursday consumers were still splashing out on big home improvements, despite the gloomy property market outlook, sending its shares surging. The company said like-for-like sales had risen 6 percent so far this year,

Published 02 May, 2008 12:00am

Galiform kitchen sales shrug off property gloom

UK kitchen maker Galiform Plc said on Thursday consumers were still splashing out on big home improvements, despite the gloomy property market outlook, sending its shares surging. The company said like-for-like sales had risen 6 percent so far this year,

Published 02 May, 2008 12:00am

ExxonMobil profit up 17 percent

ExxonMobil said Thursday its first-quarter profit rose 17 percent from a year ago to 10.89 billion dollars, but the earnings were below Wall Street forecasts.The biggest US oil and gas company said gains from record-high crude prices were offset in part b

Published 02 May, 2008 12:00am

ExxonMobil profit up 17 percent

ExxonMobil said Thursday its first-quarter profit rose 17 percent from a year ago to 10.89 billion dollars, but the earnings were below Wall Street forecasts.The biggest US oil and gas company said gains from record-high crude prices were offset in part b

Published 02 May, 2008 12:00am

Smith & Nephew launches internal probe, shares fall

Smith & Nephew Plc on Thursday disclosed that an internal probe had turned up "unacceptable" sales practices at a newly acquired unit, warning the problems would hit sales and profits in 2008.

Published 02 May, 2008 12:00am

Smith & Nephew launches internal probe, shares fall

Smith & Nephew Plc on Thursday disclosed that an internal probe had turned up "unacceptable" sales practices at a newly acquired unit, warning the problems would hit sales and profits in 2008.

Published 02 May, 2008 12:00am

US audit watchdog eyeing hard-to-value securities

The US audit watchdog is examining hard-to-value items such as auction rate securities and collateralised debt offerings as it inspects 2007 annual reports, a Public Company Accounting Oversight Board (PCAOB) official told Reuters on Wednesday.

Published 02 May, 2008 12:00am

Dubai's Arabtec sees revenue up 75 percent

Arabtec Holding, the United Arab Emirates' biggest construction company by market value, expects revenue to soar 75 percent this year to $2 billion as its Saudi business grows. The company has won 15.5 billion dirhams ($4.22 billion) worth of projects so

Published 02 May, 2008 12:00am

Dubai's Arabtec sees revenue up 75 percent

Arabtec Holding, the United Arab Emirates' biggest construction company by market value, expects revenue to soar 75 percent this year to $2 billion as its Saudi business grows. The company has won 15.5 billion dirhams ($4.22 billion) worth of projects so

Published 02 May, 2008 12:00am

In US, electronic repossession device stalls cars of late payers

The credit squeeze that has helped put the brakes on the US economy is now stalling cars, as loan companies and automobile sellers install electronic repossession devices that kick in if a buyer misses a payment. Lender Finance, a Michigan-based car loan

Published 02 May, 2008 12:00am

Thai inflation hit two-year high in April

Thailand's annual inflation rate surged to a two-year high in April and well above analysts' expectations, which is likely to hit financial markets after the holiday because of the increased risk of higher interest rates. Analysts said they doubted the Ba

Published 02 May, 2008 12:00am

Japan Tobacco says annual profits rise 13 percent

Japan Tobacco Inc said Thursday its annual net profits rose 13.3 percent as brisk cigarette sales overseas following the take-over of British rival Gallaher made up for a drop in domestic demand.

Published 02 May, 2008 12:00am

Japan Tobacco says annual profits rise 13 percent

Japan Tobacco Inc said Thursday its annual net profits rose 13.3 percent as brisk cigarette sales overseas following the take-over of British rival Gallaher made up for a drop in domestic demand.

Published 02 May, 2008 12:00am

Appeal against UK curbs on Alzheimer Drugs won

A British appeals court on Thursday ruled the country's healthcare cost-effectiveness watchdog had acted unfairly in the way it decided to curb access to Alzheimer's drugs, in a victory for drugmakers and patients.

Published 02 May, 2008 12:00am

Rexam outlook unchanged

Rexam Plc, the world's biggest drinks can maker, said its full-year trading outlook was unchanged as it said on Thursday first-quarter results were in line with its expectations, based on constant currency rates. Rexam, like other British companies with h

Published 02 May, 2008 12:00am

Rexam outlook unchanged

Rexam Plc, the world's biggest drinks can maker, said its full-year trading outlook was unchanged as it said on Thursday first-quarter results were in line with its expectations, based on constant currency rates. Rexam, like other British companies with h

Published 02 May, 2008 12:00am

India's Essar seals Esmark deal at $1.1 billon

Indian steelmaker Essar Steel said Thursday it would buy US steel company Esmark Inc, valuing the deal at 1.1 billion dollars, as it pushes ahead with a North American expansion drive. Essar Steel Holdings Ltd - part of energy-to-telecoms conglomerate Ess

Published 02 May, 2008 12:00am

Siemens net income drops

Siemens reported strong growth in second-quarter orders and its shares rose despite net income dropping by a worse-than-expected two-thirds on the back of discontinued operations and charges at two units. Shares in Europe's biggest engineering company wer

Published 02 May, 2008 12:00am

Siemens net income drops

Siemens reported strong growth in second-quarter orders and its shares rose despite net income dropping by a worse-than-expected two-thirds on the back of discontinued operations and charges at two units. Shares in Europe's biggest engineering company wer

Published 02 May, 2008 12:00am

Japan will not fall into recession: BoJ

Japan's economy will not fall into recession despite a likely slowdown in the first half of this fiscal year, partly because of firm growth abroad, the Bank of Japan said in the full text of its twice-yearly outlook report released on Thursday. Still, the

Published 02 May, 2008 12:00am

BHP approves $1.9 billion Worsley Alumina expansion

BHP Billiton Ltd/Plc said it would spend nearly $2 billion expanding an alumina refinery in Australia, saying the outlook for the powder-like, aluminium-making material was strong.

Published 02 May, 2008 12:00am

Opec output slips last month

Opec oil supply fell in April to its lowest this year as a strike cut Nigerian output and top Opec exporters Saudi Arabia and Iran trimmed production, a Reuters survey showed on Thursday. Output from the Organisation of the Petroleum Exporting Countries s

Published 02 May, 2008 12:00am

US factory sector contracts, jobless claims jump

US manufacturing contracted for a third straight month in April while the number of workers claiming jobless benefits hit a four-year high and planned layoffs soared, according to data on Thursday that showed the economy remained on shaky ground.

Published 02 May, 2008 12:00am

Police probe fraud at HSBC

Police are investigating an alleged attempted fraud at Britain's biggest bank, HSBC Holdings , the bank said on Thursday, which is estimated to involve about 70 million pounds ($139 million). HSBC said no customer funds were involved and that no money had

Published 02 May, 2008 12:00am

Thomson Reuters revenue climbs 15 percent

Thomson Reuters, a new leading provider of financial data, said Thursday that its revenue and profit rose 15 percent in the first quarter, sending the group's share price soaring in London. Group revenue climbed to 3.254 billion US dollars (2.830 billion

Published 02 May, 2008 12:00am

Thomson Reuters revenue climbs 15 percent

Thomson Reuters, a new leading provider of financial data, said Thursday that its revenue and profit rose 15 percent in the first quarter, sending the group's share price soaring in London. Group revenue climbed to 3.254 billion US dollars (2.830 billion

Published 02 May, 2008 12:00am

India's exports grow but miss target

India's exports grew by 23 percent to $155.5 billion in the fiscal year ended March, missing an annual target, and analysts said shipments would face headwinds in the current year due to a possible global slowdown.

Published 02 May, 2008 12:00am

Credit crunch losses may be half market estimates: BoE

The scale of losses and the economic fallout from the global credit crunch may not be as bad as feared and subprime losses could end up costing less than half market forecasts, the Bank of England said on Thursday. The central bank is still concerned abou

Published 02 May, 2008 12:00am

Chinese steel imports a safety risk: US lawmakers

New US measures are needed to keep out shoddy Chinese steel products that threaten the safety of buildings and bridges, US lawmakers and steel pipe industry representatives said on Wednesday.

Published 02 May, 2008 12:00am

Gulf oil producers cut some key rates

Gulf Arab oil producers cut some interest rates on Thursday in line with a US move, to ward off currency speculation, while Qatar signalled it could raise its benchmark lending rate as the region grapples with inflation.

Published 02 May, 2008 12:00am

Dollar extends post-Fed slide in Tokyo

The dollar edged down against the yen and the euro on Thursday, extending its broad slide the previous session after the Federal Reserve trimmed interest rates as expected but left the door open for more rate cuts.

Published 02 May, 2008 12:00am

Dollar falls as Fed's pause seen unconvincing

The dollar fell against the euro on Wednesday after the Federal Reserve cut interest rates as expected, but did not convincingly signal a pause in its easing campaign aimed at propping up an ailing economy.

Published 02 May, 2008 12:00am

Wall Street ends lower

US stocks fell on Wednesday after the Federal Reserve trimmed interest rates but left unclear the outlook for further rate cuts, prompting profit-taking as the Standard & Poor's 500 index ended its best month since December 2003.

Published 02 May, 2008 12:00am

JGBs up as sell-off draws bargain hunters

Japanese government bonds rose on Thursday, extending a rally from the previous day as the prospect for the Bank of Japan to keep interest rates steady for some time triggered more short covering.

Published 02 May, 2008 12:00am

JGBs up as sell-off draws bargain hunters

Japanese government bonds rose on Thursday, extending a rally from the previous day as the prospect for the Bank of Japan to keep interest rates steady for some time triggered more short covering.

Published 02 May, 2008 12:00am

Treasury bills rise

US government debt prices rallied on Wednesday as traders saw the Federal Reserve leaving the door open to another interest rate cut as it balances the need to both forestall a recession and ease inflationary pressures. There was a market view heading int

Published 02 May, 2008 12:00am

Treasury bills rise

US government debt prices rallied on Wednesday as traders saw the Federal Reserve leaving the door open to another interest rate cut as it balances the need to both forestall a recession and ease inflationary pressures. There was a market view heading int

Published 02 May, 2008 12:00am

Nikkei down ahead of earnings and holiday

Japan's Nikkei stock average slipped 0.6 percent on Thursday, as investors sold recent gainers such as Mitsubishi UFJ Financial Group and other bank shares ahead of a wave of earnings announcements and national holidays. Kirin Holdings Co Ltd, a brewer, d

Published 02 May, 2008 12:00am

Toronto stocks buoyed by resources

The Toronto Stock Exchange's main index trimmed early gains but still ended more than 100 points higher on Wednesday, helped by optimism over corporate results and stronger economic data from south of the border.

Published 02 May, 2008 12:00am

Nadal blames ATP for crowded clay calendar

Rafael Nadal has lashed out at hard-bitten tennis administrators, saying the compressed 2008 clay-court season is sure to take a physical toll on players. The world number two charged that "some people" were not listening to player pleas that three Master

Published 02 May, 2008 12:00am

Mushtaq undergoes knee operation

Sussex spinner Mushtaq Ahmed could be out of action for up to three weeks after undergoing keyhole knee surgery, his club revealed Thursday. The former Pakistan international was admitted to hospital on Wednesday evening after the county champions decided

Published 02 May, 2008 12:00am

Shoaib Akhtar won't go to India for IPL

Controversial fast bowler Rawalpindi Express Shoaib Akhtar has said that he is not leaving for India to watch the Indian Premier League (IPL) despite being allowed by the Pakistan Cricket Board (PCB) to take part in any match outside the country. PCB Appe

Published 02 May, 2008 12:00am

Tension follows Olympic torch into China; hundreds protest

Hundreds of people protested outside French retail chain Carrefour in five Chinese cities, state media reported Thursday, despite government efforts to choke off a new wave of anti-French sentiment.

Published 02 May, 2008 12:00am

Tension follows Olympic torch into China; hundreds protest

Hundreds of people protested outside French retail chain Carrefour in five Chinese cities, state media reported Thursday, despite government efforts to choke off a new wave of anti-French sentiment.

Published 02 May, 2008 12:00am

Emotions run high as Chelsea reach final

Chelsea reached the Champions League final for the first time on Wednesday, beating Liverpool 3-2 after extra time at rain-lashed Stamford Bridge to set up a meeting with Manchester United in Moscow next month.

Published 02 May, 2008 12:00am

IPL impacts Twenty20 world rankings

The Indian Premier League (IPL) may only be 17 games old, but its impact is already being felt in the Barter card Power Rankings with four IPL teams bursting through into the top 10, according to the latest rankings released here Thursday. With the world'

Published 02 May, 2008 12:00am

Oil-rich Equatorial Guinea holds one-sided polls

Sunday's elections in Equatorial Guinea will renew President Teodoro Obiang Nguema's control over a rubber-stamp parliament in sub-Saharan Africa's third largest crude oil exporter.

Published 02 May, 2008 12:00am

Iraq war jolts US presidential campaign

Five years after President George W. Bush stood on a warship deck in front of a banner reading "Mission Accomplished," the Iraq war has again thrust to the forefront of the US presidential campaign.

Published 02 May, 2008 12:00am

More questions than answers in Austria incest case

Zimbabwe begins checks of presidential votes

Officials began verifying the results from Zimbabwe's March 29 presidential poll on Thursday, bringing a step closer the release of the long delayed vote count, the electoral commission said.

Published 02 May, 2008 12:00am

Sirens wail across Israel as country remembers Holocaust

Sirens wailed across Israel for two minutes Thursday morning as Israelis stood in solemn silence to remember the victims of the Nazi World War II genocide. As the sirens began at 10 am (0800 GMT), traffic came to a total standstill as drivers stood next t

Published 02 May, 2008 12:00am

US Senate confirms Asean envoy

The US Senate has confirmed the appointment of Washington's first envoy to the Association of Southeast Asian Nations (Asean), calling it a significant move, Congressional aides said Thursday. Envoy Scot Marciel, who is a deputy assistant secretary of sta

Published 02 May, 2008 12:00am

Bush hopes for world prayer day

US President George W. Bush said Thursday he had found comfort in prayer over the past seven years and that he hoped the world would one day agree to set aside an "International Day of Prayer." "I think it makes sense to hope that one day there may be an

Published 02 May, 2008 12:00am

Critic accuses Hollywood of vilifying Arabs

American films and TV dramas shot since the September 11 attacks have reinforced screen images of Arabs and Muslims as fanatics and villains, ingraining harmful stereotypes, argues an author on the subject.

Published 02 May, 2008 12:00am

Russia sends extra troops to Georgian rebel region

Russia said on Thursday an extra contingent of its troops had begun arriving in Georgia's breakaway region of Abkhazia, a move Tbilisi said was an illegal act of military aggression.

Published 02 May, 2008 12:00am

US air strike kills al Qaeda leader in Somalia

US war planes killed an Islamist rebel said to be al Qaeda's leader in Somalia and as many as 30 other people on Thursday in Washington's biggest blow against an insurgency raging since 2007.

Published 02 May, 2008 12:00am

Nine dead in Egypt tourist coach inferno

At least nine people were killed and 29 injured when a coach carrying Europeans and North Americans overturned and caught fire in Egypt's Sinai peninsula on Thursday, a security official said.

Published 02 May, 2008 12:00am

Azerbaijan frees Russian cargo for Iran atom plant

A Russian cargo detained in Azerbaijan on its way to Iran's Bushehr nuclear plant has been allowed to cross the border into the Islamic Republic, the Azeri Foreign Ministry said on Thursday. "The cargo has been allowed to cross over the border," a ministr

Published 02 May, 2008 12:00am

US forces kill 16 fighters: blast in Baghdad kills nine

A bomb near a US patrol in Baghdad killed nine Iraqis and wounded 23 people on Thursday, a grim start to May after April proved the deadliest month for Iraqi civilians since August. A US military spokesman said three American soldiers were wounded by the

Published 02 May, 2008 12:00am

Raul Castro leads hundreds of thousands at Cuba

President Raul Castro led hundreds of thousands of Cubans summoned Thursday to a May Day rally in Revolution Square, amid a wave of social changes in the Americas' only communist country.

Published 02 May, 2008 12:00am

Thousands march in May Day rally around Europe

Thousands demonstrated around Europe Thursday in traditional May Day labour demonstrations on issues ranging from pension reforms to standards of living. Turkish riot police clashed with demonstrators attempting to take part in May Day marches in Istanbul

Published 02 May, 2008 12:00am

Six killed in Sydney Harbour boat crash

Six people were killed as a result of a boat crash in Australia's famed Sydney Harbour on Thursday when a fishing vessel slammed into an overcrowded cruiser apparently out on an illegal overnight joyride. All eight other people aboard the cruiser were inj

Published 02 May, 2008 12:00am

Nato soldier, nine Afghan civilians killed

A Nato soldier and nine Afghan civilians were killed and a dozen more wounded in separate blasts and roadside attacks in southern Afghanistan, official said Thursday.The Nato soldiers were on a military patrol Wednesday in Logar province when attacked, th

Published 02 May, 2008 12:00am

China opens largest bridge

China Thursday inaugurated one of the world's longest bridges, which will provide an important new route into Shanghai, state press said. Presented as the "world's longest sea bridge", the 36-kilometre (22-mile) structure connects Jiaxing city near Shangh

Published 02 May, 2008 12:00am

Sterling lower

Sterling fell against the dollar on Thursday, giving way to a broad rally in the greenback after data showed rising US inflation pressures that could slow the pace of any further monetary easing there.

Published 02 May, 2008 12:00am

Dollar down in London

The dollar hit a one-month high versus the euro on Thursday as market focus shifted from the Federal Reserve not signalling a definitive end to rate cuts, to worries about the health of the euro zone economy.

Published 02 May, 2008 12:00am

Credit spreads tighten

European credit spreads tightened on Thursday despite slightly disappointing US economic data, although activity was extremely thin as much of the continent enjoyed the May Day market holiday. By 1450 GMT, the Markit investment-grade iTraxx Europe index w

Published 02 May, 2008 12:00am

Credit spreads tighten

European credit spreads tightened on Thursday despite slightly disappointing US economic data, although activity was extremely thin as much of the continent enjoyed the May Day market holiday. By 1450 GMT, the Markit investment-grade iTraxx Europe index w

Published 02 May, 2008 12:00am

Closing stock market indices

Major stock markets outside the United States ended on Thursday.

Published 02 May, 2008 12:00am

FTSE ends flat

Britain's leading shares ended flat on Thursday as British Airways soared on consolidation hopes, while Smith & Nephew weighed after an internal probe into its sales practices. The FTSE 100 ended unchanged at 6,087.3 during a choppy session, light in volu

Published 02 May, 2008 12:00am

Thursday's afternoon trade: Wall Street rallies

US stocks rose on Thursday, led by a rally in tech shares, including Apple Inc and Research in Motion Ltd, and a rebound in the dollar that stirred investors' appetite for equities. Shares of Apple jumped 2 percent on news of a deal to sell movies on iTun

Published 02 May, 2008 12:00am

Brown faces first electoral test

British Prime Minister Gordon Brown, his popularity plunging and his reputation for economic competence under fire, faced his first electoral test on Thursday since taking over from Tony Blair in June. Britons began voting in local elections across Englan

Published 02 May, 2008 12:00am

Bolivia seizes control of foreign energy, telecoms companies

Bolivia's President Evo Morales Thursday said the government was taking control of the national telephone company and some foreign energy concerns, consolidating a two-year nationalisation process.

Published 02 May, 2008 12:00am

Gates launches push on treatment for combat stress

US Defence Secretary Robert Gates told the army's senior enlisted leaders on Thursday to encourage soldiers returning from Iraq and Afghanistan to seek help for "the unseen scars of war." It was part of a broader push by Gates to break down ingrained stig

Published 02 May, 2008 12:00am

Bush calls for $770 million to face food crisis

US President George W. Bush urged lawmakers Thursday to approve 770 million dollars in new aid to cope with soaring food prices that have left many hungry and fuelled angry protests around the world.

Published 02 May, 2008 12:00am

Rice returns to Middle East amid few signs of progress

US Secretary of State Condoleezza Rice this weekend makes her fourth visit to Israel and the Palestinian territories since the November Annapolis peace conference with little to show for the US effort.

Published 02 May, 2008 12:00am

Terrorist attacks claimed over 22,000 lives in 2007

Terrorist attacks claimed more than 22,000 lives world-wide in 2007, with more than half of the fatalities taking place in Iraq, the US government said on Wednesday in an annual report.

Published 02 May, 2008 12:00am

Maliki sends team to Iran

Iraq's prime minister has sent a delegation to Tehran to tell Iranian officials to stop backing Shia militias, Iraqi officials said on Thursday, underscoring Baghdad's unease over the influence of its powerful neighbour.

Published 02 May, 2008 12:00am

Obama and Hillary back Senate trade bill on China currency

Democratic presidential candidate Barack Obama said on Thursday he supported a Senate bill to offset China's "currency manipulation," one day after his rival Hillary Clinton added her name to the list of legislation's co-sponsors.

Published 02 May, 2008 12:00am

US tells Mugabe to 'call off his dogs' in Zimbabwe

The United States cast doubt on Thursday over the credibility of Zimbabwe's long-delayed election results and said President Robert Mugabe must "call off his dogs" and stop attacks against political opponents. Zimbabwean officials started verifying result

Published 02 May, 2008 12:00am

US warns Belarus

The United States has warned Belarus it might close the US embassy in Minsk and make Belarus shut its US missions in an escalating row over alleged human rights abuses, an official said Thursday.

Published 02 May, 2008 12:00am

Fighting kills 73 in Sri Lanka

A roadside bomb suspected to have been planted by Tamil Tigers killed two police commandos on Thursday while Sri Lankan troops captured a rebel base in the north west killing 40 rebels, the military said. The capture of the rebel camp in Mannar comes a we

Published 02 May, 2008 12:00am

US House panel passes sweeping mortgage aid bill

The US House of Representatives Financial Services Committee on Thursday approved a sweeping bill to enable the government to finance $300 billion in distressed mortgages with the aim of helping 2 million homeowners.

Published 02 May, 2008 12:00am

Record tin prices to cut demand, market share

Tin prices at record highs are expected to curb demand by packaging and electronic industries and could discourage the use of the silvery metal in new areas.

Published 02 May, 2008 12:00am

London cocoa, sugar and coffee plummet

A stronger dollar helped spark widespread fund selling in soft commodity markets on Thursday, with sell-stops hit as declines gathered pace, dealers said. Coffee and white sugar futures in London tumbled to the lowest levels for three and four months resp

Published 02 May, 2008 12:00am

Oil falls on weak US demand, Nigeria supply concerns

Oil fell on Thursday as Nigerian supply concerns eased, the dollar firmed and US demand showed further signs of weakness. US crude settled 94 cents lower at $112.52 a barrel, extending losses into a third straight day. London's Brent fell 86 cents to $110

Published 02 May, 2008 12:00am

WFP sees 'major crisis' in Haiti

Haiti faces a "major crisis" if international donors fail to provide urgent aid to help feed its poor, a top official with the World Food Program said on Wednesday. "It is not so important how much money we are able to raise for our cause," Pedro Medrano,

Published 02 May, 2008 12:00am

Seed aid sometimes fails to help farm output

Emergency handouts of seeds to help farmers in developing nations plant new crops after drought, war or other disasters sometimes do more harm than good, a study showed on Thursday. The report, of seed aid given to 15 nations mainly in Africa since 1974,

Published 02 May, 2008 12:00am

New York cotton futures tumble

Cotton futures crumbled from investment fund sales to end lower on Thursday, and the severity off the sell-off may see further damage to fibre contracts over the next few sessions, brokers said. The ICE Futures' July cotton contract sank 1.92 cents to clo

Published 02 May, 2008 12:00am

Spotlight falls on silver's poor fundamentals

Investment money flooding into silver has overwhelmed poor fundamentals and helped it to outperform gold, but the tide could be turning for precious metals and the probability of large losses is rising. Silver's price falls in percentage terms are likely

Published 02 May, 2008 12:00am

Metals tumble

Copper and other industrial metals fell about 3 percent as the dollar rose on Thursday, while lead tumbled more than 6 percent. Copper for three-month delivery on the London Metal Exchange closed at $8,220 per tonne, down $320 from Thursday, ongoing despi

Published 02 May, 2008 12:00am

London gold hits four-month low below $850

Gold slipped to a four-month low below $850 an ounce on Thursday, as a sharp rise in the dollar lowered gold's appeal as an alternative investment and triggered a sell-off in precious metals. Silver and palladium hit three-month lows, while platinum shed

Published 02 May, 2008 12:00am

US MIDDAY: coffee, cocoa tumble

US cocoa and arabica coffee futures on ICE Futures US fell sharply in early trade Thursday, pressured by general commodity weakness as the dollar rallied and many countries were on holiday. July arabica contract was down 3.40 cents or 2.5 percent at $1.31

Published 02 May, 2008 12:00am

US MIDDAY: sugar plummets

Raw sugar futures plunged more than 5.0 percent Thursday amid a steady barrage of investment fund sales and the stronger dollar, dealers said. The benchmark July raw sugar contract sank to a session low of 11.25 cents per lb and was trading 0.60 cent lowe

Published 02 May, 2008 12:00am

US MIDDAY: wheat dips

May wheat was down 12-3/4 cents at $7.74-1/2 per bushel, July was down 12 cents at $7.89. Pressured by firmer dollar and spillover weakness from crude oil and gold. Market shrugged off a higher overnight trend and concerns that a cold snap this weekend mi

Published 02 May, 2008 12:00am

Currency	Rate
USD PKR Interbank Selling / Jun 14	278.71
USD PKR Interbank Buying / Jun 14	278.51
USD to Japanese Yen / Jun 14	157.40
USD to Swiss Franc / Jun 14	0.89
Pound Sterling to USD / Jun 14	1.28
Euro to USD / Jun 14	1.07

Stock	Volume
S&P 500 / Jun 14	5,431.60
India Sensex / Jun 14	76,992.77
Tokyo Nikkei / Jun 14	38,814.56
Nasdaq / Jun 14	17,688.88
Hang Seng / Jun 14	17,941.78
FTSE 100 / Jun 14	8,146.86
Dow Jones / Jun 14	38,589.16
Germany DAX 30 / Jun 14	18,002.02

Item	Value
Crude Oil USD/Barrel / Jun 14	78.45
Karachi Cotton PKR/37.32 KG / Jun 14	19,935
Gold 10 Grams PKR / Jun 14	207,047
Gold Spot USD/Ounce / Jun 14	2,333.04
Cotton US¢/pound / Jun 14	72.14
Petrol/Litre / Jun 16	258.16

Stock	Price
786 Invest Ltd / Jun 16 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Jun 16 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Jun 16 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Jun 16 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Jun 16 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Jun 16 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Jun 16 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Jun 16 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Jun 16 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Jun 16 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Jun 16 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Jun 16 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Jun 16 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Jun 16 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Jun 16 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Jun 16 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Jun 16 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Jun 16 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Jun 16 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Jun 16 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Jun 16 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Jun 16 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Jun 16 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Jun 16 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Jun 16 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Jun 16 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
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