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Print - 2008-08-12
Gold ticks above three-month low in Asia

Gold ticks above three-month low in Asia

Gold advanced on Monday with the help of bargain hunting and a rebound in oil prices, but sentiment has been shaken by a surge in the US dollar, which had triggered a sell-off in commodities. Bullion shrugged off deadly fighting between Russia and Georgia
Published 12 Aug, 2008 12:00am
UAE rice shortage likely to ease in October

UAE rice shortage likely to ease in October

A rice shortage in the United Arab Emirates due to export curbs is likely to ease in October when producers replenish stocks and boost supplies, traders said on Sunday. But UAE consumers - for whom rice is a major food staple along with bread - will conti
Published 12 Aug, 2008 12:00am
Thai 2008 second rice crop hits record high

Thai 2008 second rice crop hits record high

Thailand produced 8.8 million tonnes of paddy in the 2008 second crop, the highest yield in the 20 years that records have been kept, due to high prices, plantation expansion and good irrigation, a senior government official said on Monday.
Published 12 Aug, 2008 12:00am
Vietnam plans floor price for paddy rice purchases

Vietnam plans floor price for paddy rice purchases

Vietnam will set a minimum price for companies buying rice from Mekong Delta farmers around 14 percent higher than current levels, as it aims to support prices that have fallen a fifth since their peak in early June.
Published 12 Aug, 2008 12:00am
Oil rises above $116 on conflict in Georgia

Oil rises above $116 on conflict in Georgia

Crude oil rose over a dollar and topped $116 a barrel on Monday, rebounding from the previous session's $5 decline on concern fighting between Russia and Georgia could disrupt energy exports from the Caspian region. But analysts said oil's gain was temper
Published 12 Aug, 2008 12:00am
Bangladesh tea exports, local demand surge

Bangladesh tea exports, local demand surge

Bangladesh tea exports jumped nearly 124 percent to 10.8 million kg and domestic consumption rose 28.5 percent to 43.20 million kg in the financial year to June, traders said on Monday. Improvements in quality, lower production in rival Kenya and higher p
Published 12 Aug, 2008 12:00am
Australian wheat poised for growth in volatile world

Australian wheat poised for growth in volatile world

After beating the odds to double the size of its wheat crop in the last 30 years, Australia is chasing further gains which some industry leaders say could yield exports as big as present world leader the United States. From satellite-guided tractors to dr
Published 12 Aug, 2008 12:00am
Malaysian tin falls

Malaysian tin falls

Malaysian tin fell 7.3 percent to a five-month low on Monday, dragged down by steep losses on London Metal Exchange and a surge in supply, one dealer said.
Published 12 Aug, 2008 12:00am
Asian rubber: tyre makers chase nearby cargoes

Asian rubber: tyre makers chase nearby cargoes

China, the world's largest rubber consumer, was chasing nearby cargoes as local tyre makers took advantage of a price drop, but worries about poor car sales may limit future purchases, dealers said on Monday. Cash rubber prices have slipped nearly 4 perce
Published 12 Aug, 2008 12:00am
Malaysian palm oil futures slip

Malaysian palm oil futures slip

Malaysian crude palm oil futures fell as much as 4.3 percent to a new 10-month low on Monday, as faltering energy and vegetable oil markets encouraged a sell-off, despite good export data from cargo surveyors. Vegetable oil prices, which have slipped more
Published 12 Aug, 2008 12:00am
Saudi Arabia to maintain steady crude exports to Asia

Saudi Arabia to maintain steady crude exports to Asia

Saudi Arabia, the world's top crude exporter, will keep shipments to Asian customers unchanged in September versus this month, sticking to its pledge to pump as much as customers want, sources at refiners said on Monday. The kingdom pledged earlier this s
Published 12 Aug, 2008 12:00am
Russia rouble and stocks rebound

Russia rouble and stocks rebound

The Russian rouble and share indexes rebounded on Monday from a severe drop earlier in the day, boosted by President Dmitry Medvedev's statement the military conflict with Georgia might be nearing its end. The benchmark RTS stock index turned positive, re
Published 12 Aug, 2008 12:00am
French industry output falls

French industry output falls

French industrial output fell unexpectedly in June, weighed down by declining production of food, cars and capital goods, heightening fears of a recession in France and adding to the pile of weak euro zone data. Output overall fell by 0.4 percent in the e
Published 12 Aug, 2008 12:00am
SEC short-sale rule ending; market move debated

SEC short-sale rule ending; market move debated

Short trading in 19 major US financial stocks will revert to rules governing other shares on Wednesday as a Securities and Exchange Commission experiment against abusive short selling expires. Market data company S3 Matching Technologies says short sales
Published 12 Aug, 2008 12:00am
British manufacturers' costs fall

British manufacturers' costs fall

British manufacturers' costs fell at their sharpest monthly pace in 1-1/2 years in July but were still nearly a third higher than a year ago, and analysts do not expect any let up from rising headline inflation just yet. The Office for National Statistics
Published 12 Aug, 2008 12:00am
India may tweak rate spreads for overseas borrowing

India may tweak rate spreads for overseas borrowing

India will not raise limits for corporate foreign borrowing despite pressure from firms wanting to tap cheaper funds amid rising rates at home, but may revise interest rate spreads, a finance ministry official said. Smaller firms are finding it hard to ra
Published 12 Aug, 2008 12:00am
21 US cities to disclose carbon footprint

21 US cities to disclose carbon footprint

More than 20 US cities, including New York, Las Vegas and Denver, have agreed to measure their carbon footprints in an attempt to find ways to curb emissions blamed for warming the planet. "If you don't measure these emissions, you cannot manage them," sa
Published 12 Aug, 2008 12:00am
'Opec should abide by output target'

'Opec should abide by output target'

Opec members should keep oil output within the group's agreed targets, Opec's President Chakib Khelil said in remarks published on Monday. Khelil, whose comments were carried by Iranian oil ministry news agency Shana, is on a visit to Opec price hawk Iran
Published 12 Aug, 2008 12:00am
South Korea to sell stake in airport in privatisation plan

South Korea to sell stake in airport in privatisation plan

South Korea's new conservative government Monday announced plans to sell off a 49 percent stake in the main international airport as part of its attempt to reform state firms. Privatisation was a key campaign pledge by President Lee Myung-Bak, who took of
Published 12 Aug, 2008 12:00am
China remains net coal exporter in January-July

China remains net coal exporter in January-July

China, the world's largest coal producer and consumer, remained a net exporter of coal in the first seven months of the year, the official customs data showed. China exported 4.78 million tonnes of the hydrocarbon in July, a fall of 32 percent from June,
Published 12 Aug, 2008 12:00am
Maybank meets Indonesia regulator over BII deal

Maybank meets Indonesia regulator over BII deal

Malaysia's top lender Maybank on Monday met with Indonesia's capital market watchdog following its stalled plan to gain control of Bank Internasional Indonesia (BII), officials said.
Published 12 Aug, 2008 12:00am
China film maker Huayi Bros plans fourth quarter domestic IPO

China film maker Huayi Bros plans fourth quarter domestic IPO

Huayi Brothers Group Ltd, one of China's largest filmmakers, plans to list its shares domestically in the fourth quarter to raise several hundred million yuan, sources familiar with the situation said on Monday.
Published 12 Aug, 2008 12:00am
China film maker Huayi Bros plans fourth quarter domestic IPO

China film maker Huayi Bros plans fourth quarter domestic IPO

Huayi Brothers Group Ltd, one of China's largest filmmakers, plans to list its shares domestically in the fourth quarter to raise several hundred million yuan, sources familiar with the situation said on Monday.
Published 12 Aug, 2008 12:00am
Japan to issue economic package by end-August

Japan to issue economic package by end-August

Japan will issue a package of steps to support the economy by the end of this month, Economics Minister Kaoru Yosano said, as the world's No 2 economy grapples with high energy and food prices and faces the risk of a recession.
Published 12 Aug, 2008 12:00am
Vietnam central bank expects foreign exchange surplus

Vietnam central bank expects foreign exchange surplus

Vietnam's central bank said on Monday it expects a surplus in foreign currency supply and a stable dollar/dong exchange rate this year, helped by higher remittances and the inflow of foreign direct investment.
Published 12 Aug, 2008 12:00am
Nobel profit slumps 42 percent as slowdown caps demand

Nobel profit slumps 42 percent as slowdown caps demand

Nobel Biocare, the world's largest dental implant maker, reported a surprisingly big drop in second-quarter profit, as economic weakness curbed demand for its costly treatments and a weak dollar ate into its US sales.
Published 12 Aug, 2008 12:00am
Nobel profit slumps 42 percent as slowdown caps demand

Nobel profit slumps 42 percent as slowdown caps demand

Nobel Biocare, the world's largest dental implant maker, reported a surprisingly big drop in second-quarter profit, as economic weakness curbed demand for its costly treatments and a weak dollar ate into its US sales.
Published 12 Aug, 2008 12:00am
Hoya first quarter net profit up 24 percent, shares jump

Hoya first quarter net profit up 24 percent, shares jump

Japanese high-tech glass maker Hoya Corp said its quarterly net profit climbed a bigger-than-expected 24 percent on the sale of a stake in a unit and it forecast a rise in first-half earnings, sending its shares up.
Published 12 Aug, 2008 12:00am
Hoya first quarter net profit up 24 percent, shares jump

Hoya first quarter net profit up 24 percent, shares jump

Japanese high-tech glass maker Hoya Corp said its quarterly net profit climbed a bigger-than-expected 24 percent on the sale of a stake in a unit and it forecast a rise in first-half earnings, sending its shares up.
Published 12 Aug, 2008 12:00am
Waste Management raises bid for Republic

Waste Management raises bid for Republic

Waste Management Inc, the largest US trash hauler, raised its unsolicited take-over bid for rival Republic Services Inc by about 9 percent to $6.7 billion on Monday to try to thwart Republic's agreement to acquire Allied Waste Industries Inc.
Published 12 Aug, 2008 12:00am
Malaysia central banker expects lower inflation

Malaysia central banker expects lower inflation

Slowing economic growth in Malaysia, coupled with falling commodity prices, will reduce inflationary pressures, central bank Governor Zeti Akhtar Aziz said on Monday. Annual inflation in Malaysia hit 7.7 percent in June, although the central bank has not
Published 12 Aug, 2008 12:00am
Violence and graft halve Afghan foreign investment

Violence and graft halve Afghan foreign investment

The Taliban insurgency, corruption and poor infrastructure have halved potential foreign investment in Afghanistan and rising food prices could further add to insecurity, the governor of the central bank said on Monday.
Published 12 Aug, 2008 12:00am
China producer inflation soars; trade surplus strong

China producer inflation soars; trade surplus strong

China's factory-gate prices jumped 10.0 percent in the year to July, the first double-digit rate since the mid-1990s, but many economists said the surge was unlikely to translate into a new burst of consumer inflation. China also reported a surprisingly l
Published 12 Aug, 2008 12:00am
Singapore's economy shrinks in second quarter

Singapore's economy shrinks in second quarter

Singapore's economy contracted in the second quarter and the government forecasts exports to fall this year for the first time since 2001, a sign that sagging growth is becoming a bigger worry for Asia than inflation.
Published 12 Aug, 2008 12:00am
JGB 10-year yield hits four-month low

JGB 10-year yield hits four-month low

Japanese government bonds advanced on Monday, with the benchmark 10-year yield hitting a fresh four-month low as persistent concerns about the domestic and overseas economies overshadowed solid gains in Tokyo shares.
Published 12 Aug, 2008 12:00am
JGB 10-year yield hits four-month low

JGB 10-year yield hits four-month low

Japanese government bonds advanced on Monday, with the benchmark 10-year yield hitting a fresh four-month low as persistent concerns about the domestic and overseas economies overshadowed solid gains in Tokyo shares.
Published 12 Aug, 2008 12:00am
Thai shares close 1.77 percent higher

Thai shares close 1.77 percent higher

Thai share prices closed 1.77 percent higher on Monday after ousted premier Thaksin Shinawatra announced he would go into exile, cooling investor concerns about domestic political stability. They said a drop in global oil prices and gains in the US stock
Published 12 Aug, 2008 12:00am
Seoul shares gain

Seoul shares gain

Seoul shares closed higher on Monday led by exporters such as LG Electronics, helped by weakness in the won currency, but steelmakers' falls on outlook worries cut earlier gains. The Korea Composite Stock Price Index closed up 0.79 percent at 1,581.09 poi
Published 12 Aug, 2008 12:00am
China fears drag Hong Kong shares off high

China fears drag Hong Kong shares off high

Hong Kong stocks closed flat on Monday, giving up early gains when concerns over slowing economic growth and rising producer price inflation in China sent shares in most mainland manufacturers tumbling. "The higher producer price inflation in China is exp
Published 12 Aug, 2008 12:00am
Taiwan stocks rise

Taiwan stocks rise

Taiwan stocks rose 1.62 percent to a two-week closing high on Monday, as top electronics parts maker Hon Hai led tech exporters higher due to strong gains on Wall Street, falling oil prices and a weaker Taiwan dollar. The main TAIEX share index closed up
Published 12 Aug, 2008 12:00am
China stocks tumble 5.2 percent

China stocks tumble 5.2 percent

China's main stock index tumbled more than 5 percent to a fresh 19-month low on Monday, hit by concern about slowing economic growth and rising producer price inflation, which threatens to squeeze corporate profit margins. The Shanghai Composite Index, wh
Published 12 Aug, 2008 12:00am
Australian shares slightly firmer

Australian shares slightly firmer

Australian share prices closed up 0.8 percent on Monday as financial stocks led the market higher, dealers said. The benchmark SP/ASX 200 index closed up 39.9 points at 5,026.1, while the broader All Ordinaries index climbed 31.7 points to 5,069.3. Market
Published 12 Aug, 2008 12:00am
Indian shares soar 2.22 percent

Indian shares soar 2.22 percent

Indian shares closed 2.22 percent higher on Monday, buoyed by strong global trends as world oil prices fell, soothing inflationary pressures, dealers said. The benchmark 30-share Sensex index rose 336.1 points to 15,503.92, the fifth straight day of gains
Published 12 Aug, 2008 12:00am
Malaysian shares jump

Malaysian shares jump

Malaysian share prices closed 0.6 percent higher on Monday on overnight gains on Wall Street and the decline in global crude oil prices, dealers said. The Kuala Lumpur Composite Index added 7.15 points to close at 1,127.46 in thin volume of 363.6 million
Published 12 Aug, 2008 12:00am
Singapore shares surge

Singapore shares surge

Singapore shares closed 0.64 percent higher on Monday as investors shrugged off a bleak growth outlook for the city-state, dealers said. The Straits Times Index added 17.85 points to 2,825.39. Volume traded totalled one billion shares worth 1.12 billion S
Published 12 Aug, 2008 12:00am
Nikkei climbs to three-week high

Nikkei climbs to three-week high

Japan's Nikkei average climbed 2 percent on Monday for its highest close in nearly three weeks as Honda Motor Co and other exporters gained on a weaker yen and inflation worries took a breather on lower oil prices.
Published 12 Aug, 2008 12:00am
Taiwan dollar continues slide

Taiwan dollar continues slide

The Taiwan dollar fell on Monday to a 5-1/2 month low, due to a globally stronger US dollar fuelled by declining oil prices, although dealers saw foreign fund inflows after the stock market jumped. The Taiwan dollar closed at T$31.166 to the US dollar, it
Published 12 Aug, 2008 12:00am
Swiss franc edges up

Swiss franc edges up

The Swiss franc edged higher against the dollar on Monday, stabilising after the greenback had surged to a six-month high in the previous session on investors' concerns about Europe's economy. "For now, the US is delivering the least ugly signals on activ
Published 12 Aug, 2008 12:00am
Dollar strikes six-month high

Dollar strikes six-month high

The dollar vaulted to a six-month high against a basket of currencies on Monday, racking up more gains as heightened worries about the global economy's strength sparked a sell-off in the euro and higher-yielding currencies.
Published 12 Aug, 2008 12:00am
Australian dollar at 6-1/2-month lows

Australian dollar at 6-1/2-month lows

The Australian dollar extended its losing streak on Monday, falling to 6-1/2 month lows against a buoyant US currency, with softer commodities adding to its woes amid escalating worries about global economic growth.
Published 12 Aug, 2008 12:00am
Asian currencies: growth worries deepen

Asian currencies: growth worries deepen

Deepening worries about global growth hurt Asian currencies on Monday, particularly those of trade-dependent countries, with the Malaysian ringgit diving to its lowest in 2008 and the Singapore dollar to a five-month low. The Indonesian rupiah fell to a o
Published 12 Aug, 2008 12:00am
Yuan falls versus dollar

Yuan falls versus dollar

The yuan fell against the dollar on Monday after the Chinese central bank set a lower reference rate for a ninth straight day in response to the US currency's global strength. But in a sign that Chinese authorities probably still want to continue yuan app
Published 12 Aug, 2008 12:00am
Poland hopes Chinese will do Euro 2012 work

Poland hopes Chinese will do Euro 2012 work

Now that the Olympic Games have started and years of construction work in Beijing have ended, Poland hopes Chinese construction companies will come to build the infrastructure it needs for Euro 2012. Poland, which will co-host the European soccer champion
Published 12 Aug, 2008 12:00am
Jankovic becomes women's new world number 1

Jankovic becomes women's new world number 1

Jelena Jankovic of Serbia on Monday became the world number one in women's tennis despite having never won a Grand Slam and claiming only one title this season. Jankovic, who comes into the Olympics tennis tournament nursing a calf injury, is the third pl
Published 12 Aug, 2008 12:00am
ICC could restrict Champions Trophy to two venues

ICC could restrict Champions Trophy to two venues

The International Cricket Council (ICC) said on Monday it might hold the Champions Trophy at just two venues in Pakistan next month for security reasons. Haroon Lorgat, the ICC chief executive, told reporters in Rawalpindi there was a strong possibility t
Published 12 Aug, 2008 12:00am
Ferguson seeks striking reinforcements for United

Ferguson seeks striking reinforcements for United

The Cristiano Ronaldo saga successfully concluded, Manchester United manager Alex Ferguson will turn his hand to what he considers another pressing priority this week - finding a new striker. Five days remain before the start of the Premier League season
Published 12 Aug, 2008 12:00am
Del Potro targets top 10 after completing hat-trick

Del Potro targets top 10 after completing hat-trick

Argentine teenager Juan Martin Del Potro has targeted a place in the world's top 10 after picking up his third consecutive title on Sunday. The 19-year-old outgunned former world number one Andy Roddick 6-1 7-6 in the final of the ATP event in Los Angeles
Published 12 Aug, 2008 12:00am
Ireland ask FIFA to switch Georgia tie

Ireland ask FIFA to switch Georgia tie

The Football Association of Ireland (FAI) will ask FIFA to switch their World Cup qualifier in Georgia next month to a neutral venue because of the conflict in the country, its chief executive said on Monday. "We have decided to formalise our position to
Published 12 Aug, 2008 12:00am
Pietersen leads England to consolation win

Pietersen leads England to consolation win

Kevin Pietersen celebrated his first Test as England captain with a consolation six-wicket victory over South Africa in the fourth and final Test on Monday. Andrew Flintoff (11 not out) hit the winning runs with a straight six as he and Paul Collingwood (
Published 12 Aug, 2008 12:00am
Sri Lanka cruise to series win

Sri Lanka cruise to series win

Sri Lanka clinched a 2-1 series victory with an emphatic eight-wicket victory against India in the deciding third Test on Monday. The hosts were left chasing 122 for victory after bowling out India for 268 in their second innings and finished 123 for two
Published 12 Aug, 2008 12:00am
Mickelson fails to cash in on Tiger-less major

Mickelson fails to cash in on Tiger-less major

In the absence of injured world number one Tiger Woods, second-ranked Phil Mickelson was the tournament favourite going into this week's PGA Championship. By the time a gruelling four days of golf ended on the tough Oakland Hills Country Club layout, Mick
Published 12 Aug, 2008 12:00am
Manchester United youth player wins payout

Manchester United youth player wins payout

A former Manchester United youth-team player was awarded more than 4.3 million pounds ($8.26 million) in compensation for a career-ending tackle at the High Court in London on Monday. Ben Collett, now 23, was part of United's FA Youth Cup-winning side of
Published 12 Aug, 2008 12:00am
Games are special but on my terms, says Serena

Games are special but on my terms, says Serena

Serena Williams didn't take part in the spectacular Olympic Games opening ceremony and has opted for privacy over the cheek-by-jowl bonhomie of the athletes' village. But the eight-time Grand Slam champion said she treasures the doubles gold medal she won
Published 12 Aug, 2008 12:00am
Lezak keeps Phelps on target

Lezak keeps Phelps on target

Michael Phelps' dream of a record eight gold medals was dramatically kept alive by team-mate Jason Lezak in a 4x100m freestyle relay thriller Monday, while the first drugs scandal emerged at the Beijing Olympics.
Published 12 Aug, 2008 12:00am
Indian Mirza retires from singles

Indian Mirza retires from singles

India's Sania Mirza retired with a wrist injury against Czech Iveta Benesova in the first round of the Olympic tennis event on Monday. Mirza was trailing 6-2 2-1 when her right wrist became too painful. "It was hurting before I even came to Beijing but it
Published 12 Aug, 2008 12:00am
Bindra wins India first individual gold medal

Bindra wins India first individual gold medal

Abhinav Bindra won India's first ever individual Olympic gold medal when he claimed the men's 10m Air Rifle shooting title here on Monday. Athens Games champion Zhu Qinan of China won the silver and Henri Hakkinen of Finland took the bronze at the Beijing
Published 12 Aug, 2008 12:00am
Asian nations come good in Beijing

Asian nations come good in Beijing

Asian nations firmly established themselves on the Olympic medal table Monday with Japan's Kosuke Kitajima setting a world record and Abhinav Bindra winning an historic gold for India. Kitajima, the 100m breaststroke king, smashed American Brendan Hansen'
Published 12 Aug, 2008 12:00am
Nadal and Federer through on manic Monday

Nadal and Federer through on manic Monday

Roger Federer earned top marks in his first Olympics test but Rafael Nadal was made to sweat in a bumper crop of matches at the rain-delayed tennis tournament on Monday. Federer breezed past powerful Russian Dmitry Tursunov 6-4, 6-2 into round two, joinin
Published 12 Aug, 2008 12:00am
Three dead in Gaza tunnel collapse

Three dead in Gaza tunnel collapse

The bodies of three Palestinians have been recovered from a smuggling tunnel between Egypt and the Gaza Strip which collapsed at the weekend, while six people are missing, medics said Monday. The tunnel near the Rafah border crossing caved in on Saturday,
Published 12 Aug, 2008 12:00am
UN-AU force helicopter shot at in Darfur

UN-AU force helicopter shot at in Darfur

A helicopter belonging to the joint United Nations-African Union force in the war-torn western Sudanese region of Darfur was shot at on Monday, but there were no reports of casualties, UNAMID said. "About 30 minutes into the flight and 90 kilometres (60 m
Published 12 Aug, 2008 12:00am
Taiwan to push ahead with US arms purchases: Ma

Taiwan to push ahead with US arms purchases: Ma

Taiwan President Ma Ying-jeou Monday said his administration would push ahead with plans to purchase arms from ally Washington while trying to improve ties with traditional rival China. Ma, of the China-friendly Kuomintang (KMT), was elected in a landslid
Published 12 Aug, 2008 12:00am
Cuba backs Russia on Georgia actions

Cuba backs Russia on Georgia actions

Cuba sided with its old Cold War ally Russia on Sunday when President Raul Castro issued an official statement supporting Russia's military actions in Georgia's breakaway enclave of South Ossetia. He backed a Russian demand that Georgia unconditionally wi
Published 12 Aug, 2008 12:00am
Afghan and US forces kill 25 Taliban, eight civilians

Afghan and US forces kill 25 Taliban, eight civilians

Afghan and US-led coalition forces killed 25 Taliban insurgents and eight civilians after an ambush in southern Afghanistan, the US military said on Monday. The issue of civilian casualties has led to a rift between Afghanistan and its Western allies with
Published 12 Aug, 2008 12:00am
Thaksin skips bail, flees to Britain

Thaksin skips bail, flees to Britain

Former Thai Prime Minister Thaksin Shinawatra skipped bail on Monday and went into exile, accusing political enemies who removed him in a 2006 coup of meddling in the courts to "finish off" him and his family. The Supreme Court issued arrest warrants for
Published 12 Aug, 2008 12:00am
North Korea to remain on terror blacklist: US

North Korea to remain on terror blacklist: US

North Korea will remain on a US terrorism blacklist until it accepts a comprehensive mechanism to verify its nuclear programme, the US State Department said Monday. Under US law, Washington can from Monday begin considering removing Pyongyang from the Sta
Published 12 Aug, 2008 12:00am
Sri Lankan troops kill 115 Tigers

Sri Lankan troops kill 115 Tigers

Sri Lankan troops killed 115 Tamil Tiger rebels in weekend fighting in the far north of the island, the military said on Monday, as government forces continued their push into the rebels' northern stronghold. Government jets also bombed rebel positions in
Published 12 Aug, 2008 12:00am
Iran and EU in new nuclear contact

Iran and EU in new nuclear contact

Iran's chief atomic negotiator and the man representing six world powers discussed Tehran's nuclear programme in telephone talks on Monday but an EU official said there was no change in the dispute. Iran's National Security Council said negotiator Saeed J
Published 12 Aug, 2008 12:00am
Heavy rain kills 20 in China

Heavy rain kills 20 in China

Torrential rain triggered by tropical storm Kammuri has killed 20 people, left 10 missing and caused economic losses of 300 million yuan ($44 million) in China's south-west over the past few days, state media said.
Published 12 Aug, 2008 12:00am
Belarus court jails US lawyer

Belarus court jails US lawyer

A court in Belarus jailed a US lawyer for three years on Monday on charges of industrial espionage and carrying forged documents, a verdict certain to plunge relations between the two countries deeper into crisis. The trial of New York-based lawyer Emmanu
Published 12 Aug, 2008 12:00am
'Iran nuclear work will go on'

'Iran nuclear work will go on'

President Mahmoud Ahmadinejad on Monday told visiting Algerian President Abdelaziz Bouteflika that Tehran will press on with its nuclear programme, despite the risk of fresh sanctions. "They've deeply understood that Iran's peaceful nuclear programme will
Published 12 Aug, 2008 12:00am
Alternatives should be found for UN: Ahmedinejad

Alternatives should be found for UN: Ahmedinejad

Iranian President Mahmoud Ahmadinejad on Monday told his Algerian counterpart that an alternative should be found for the United Nations, according to reports. "The United Nations Security Council can no longer settle international conflicts and challenge
Published 12 Aug, 2008 12:00am
Five women killed in Iraq roadside bombing

Five women killed in Iraq roadside bombing

Five women were killed and three men wounded on Monday when a roadside bomb exploded next to their vehicle in the central Iraqi province of Diyala, a witness and a doctor said. The attack occurred as they were driving in a pick-up truck near Al-Wajihiyah,
Published 12 Aug, 2008 12:00am
Scores dead in Vietnam floods, more rains on way

Scores dead in Vietnam floods, more rains on way

Flash floods and landslides brought by tropical storm Kammuri since Saturday have battered mountainous villages in northern Vietnam, killing more than 100 people and leaving 48 missing, the government said on Monday.
Published 12 Aug, 2008 12:00am
Abdullah first Arab leader to visit Iraq

Abdullah first Arab leader to visit Iraq

King Abdullah of Jordan became on Monday the first Arab leader to visit Iraq since the fall of Saddam Hussein in 2003, flying to Baghdad for a meeting with Prime Minister Nuri al-Maliki. The visit is likely to be seen in the region as an important step to
Published 12 Aug, 2008 12:00am
Sterling falls versus dollar

Sterling falls versus dollar

Sterling fell to a 21-month low against the dollar and eased against the euro on Monday as concerns about the health of the UK economy undermined sentiment. Over a third of Britain's leading businessmen expect their companies to suffer redundancies due to
Published 12 Aug, 2008 12:00am
Dollar eases in London

Dollar eases in London

The dollar eased from multi-month peaks scaled earlier on Monday as rising oil prices and robust European Central Bank inflation comments prompted investors to take profits on the US currency's recent clamber higher.
Published 12 Aug, 2008 12:00am
Indian rupee weakens

Indian rupee weakens

The Indian rupee weakened on Monday after a finance ministry official said the government did not plan to raise limits on firms' overseas borrowing, which led traders to cover short dollar positions. The partially convertible rupee ended at 42.155/165 per
Published 12 Aug, 2008 12:00am
European credit spreads tighter

European credit spreads tighter

European credit spreads drifted narrower in muted flows on Monday, shrugging off poorer performances in European and US stocks, with an absence of negative credit-specific news, traders said. By 1512 GMT, the investment-grade Markit iTraxx Europe index wa
Published 12 Aug, 2008 12:00am
European credit spreads tighter

European credit spreads tighter

European credit spreads drifted narrower in muted flows on Monday, shrugging off poorer performances in European and US stocks, with an absence of negative credit-specific news, traders said. By 1512 GMT, the investment-grade Markit iTraxx Europe index wa
Published 12 Aug, 2008 12:00am
Philippines shares higher

Philippines shares higher

Philippines share prices closed 2.8 percent higher on Monday due to the rally on Wall Street and a fall in world crude prices, dealers said. The composite index rose 75.71 points to 2,768.52, its best finish since June 4 at 2773.12. The all-shares index r
Published 12 Aug, 2008 12:00am
Monday's afternoon trade: Wall Street rallies

Monday's afternoon trade: Wall Street rallies

US stocks rallied on Monday as oil prices fell below $114 per barrel for the first time in more than three months, improving the outlook for consumer and business spending, and Amazon.com's shares jumped after a broker said a key product appeared to be se
Published 12 Aug, 2008 12:00am
Asian bond spreads stay firm

Asian bond spreads stay firm

Asian bond spreads tightened on Monday helped by easing concerns over inflation as oil prices came off the boil, while the cost of insuring Thai debt fell on hopes of reduced political tension. The iTRAXX Asia ex-Japan high-yield index tightened by 5 basi
Published 12 Aug, 2008 12:00am
Asian bond spreads stay firm

Asian bond spreads stay firm

Asian bond spreads tightened on Monday helped by easing concerns over inflation as oil prices came off the boil, while the cost of insuring Thai debt fell on hopes of reduced political tension. The iTRAXX Asia ex-Japan high-yield index tightened by 5 basi
Published 12 Aug, 2008 12:00am
FTSE rises as ITV, housebuilders gain

FTSE rises as ITV, housebuilders gain

Britain's benchmark index ended higher on Monday as free-to-air broadcaster ITV rose on persistent bid speculation, while miners tracked weaker metal prices. The FTSE 100 was up 52.6 points, or 1 percent, at 5,541.8 but is down over 14 percent for the yea
Published 12 Aug, 2008 12:00am
Badminton champion makes early exit

Badminton champion makes early exit

Malaysia's Wong Choong Hann effectively ended the Olympic career of Athens gold medallist Taufik Hidayat of Indonesia when he beat him 21-19 21-16 in the men's singles round of 32 on Monday.
Published 12 Aug, 2008 12:00am
India celebrates first solo Olympic gold

India celebrates first solo Olympic gold

India's first ever individual Olympic gold medal win on Monday was greeted at home with disbelief and joy - as well as renewed hope the country could break with its total obsession with cricket.
Published 12 Aug, 2008 12:00am
Vezzali wins record third foil gold

Vezzali wins record third foil gold

Valentina Vezzali of Italy won a record third consecutive Olympic women's individual foil gold on Monday, breaking a tie with four seconds left to defeat South Korean Nam Hyun-hee 6-5. Vezzali was down 5-4 with 41 seconds to go and lost a video replay cha
Published 12 Aug, 2008 12:00am
Li provides drama after top men cruise

Li provides drama after top men cruise

China's Li Na produced the biggest shock so far of the Olympics tennis tournament to beat world number three Svetlana Kuznetsova 7-6 6-4 on Monday. Li sparked joyful scenes at the end of a day that had seen men's heavyweights Roger Federer, Rafael Nadal a
Published 12 Aug, 2008 12:00am
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