SINGAPORE: Oil prices rose in Asian trade on Tuesday as bullish US manufacturing data combined with gains in Asian equities markets to push the market up, analysts said.
New York’’s main futures contract, light sweet crude for March delivery, broke past the 75 dollar-level in morning trade, gaining 58 cents to 75.01 dollars a barrel. ...
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Archive for February 2nd, 2010
Oil up in Asian trade
Obama’’s 2010 budget deficit soars to record $1.56 trln
WASHINGTON: US President Barack Obama on Monday projected the U.S. budget deficit would peak at a fresh record in 2010 before easing as he pushes for fiscal responsibility while battling double-digit unemployment.
Dubbed an old-style liberal tax-and-spender by his Republican opponents, Obama is under pressure to convince investors and big creditors like China that he...
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Dollar surges to record level of over Rs85
KARACHI: Dollar climbed to a record level at over Rs85 in the Interbank here on Monday.
According to forex market dealers, demand for dollar witnessed a substantial rise in Interbank market today, as banks purchased around 300 million dollars. This, at one stage, pushed the dollar price to Rs85.20.
The economic experts said that the...
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Stock market begins week with selling
KARACHI: The local equities market began the week with selling, as the benchmark KSE-100 Index slipped 23 points to close at 9,591 on Monday.
The investors, adopting caution in view of the increasing value of dollar, preferred to off-load their holdings.
The trade volume was recorded at 130 million shares.
Lotte Pakistan topped the list of...
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Oil prices turn higher
LONDON: Oil prices climbed on Monday, reversing earlier losses caused by worries over weak demand, analysts said.
New York’’s main futures contract, light sweet crude for delivery in March, gained 30 cents to 73.19 dollars a barrel at about 1000 GMT after dipping by a similar amount during Asian trading hours. Brent North Sea crude...
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