Archives for December 2007

LONDON (Thomson Financial) – The dollar weakened a touch after US data showed core inflation was stronger than previously thought in the third quarter, a situation that may put the Federal Reserve in a bind as it attempts to forestall signals of slowing economic growth. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News. The content on this site, including news, quotes, data and other information, is provided by AFX News and its third party content providers for your personal information only, and neither AFX News nor its third party content providers shall be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. Sitemap Help Contact Us Investment Newsletters Forbes Conferences Forbes Magazines Forbes Autos Ad Information Forbes. read more

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Forex – Dollar steady versus yen, euro ahead of US economic data – Forbes. HONG KONG (Thomson Financial) – The US dollar was steady against the yen and the euro in afternoon trade in Asia on Thursday, as investors were sidelined ahead of the release of economic data to help them gauge where interest rates are headed. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News. The content on this site, including news, quotes, data and other information, is provided by AFX News and its third party content providers for your personal information only, and neither AFX News nor its third party content providers shall be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. read more

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MUMBAI (Thomson Financial) – Fitch Ratings said it has upgraded the long-term foreign and local currency issuer default ratings and senior unsecured debt rating of Sumitomo Metal Industries Ltd (SMI) to ‘BBB’ from ‘BBB-‘ reflecting the Japanese steelmaker’s improved financial profile, its consistent high profit margins and reduction in earnings volatility. The ratings agency also affirmed SMI’s short-term local and foreign currency IDRs at ‘F3’ and the outlook on the ratings remains stable. Fitch said the company’s focus on the high-end seamless pipes, for which competition is very limited, allows it significantly higher average sales price per tonne. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News. read more

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LONDON (Thomson Financial) – The dollar’s recovery has gathered pace this morning as traders square up positions ahead of a busy week. The dollar’s new momentum was triggered at the end of last week when higher than anticipated US retail sales and inflation data diminished market expectations of aggressive monetary easing from the US Federal Reserve, which last week cut its benchmark funds rate another quarter point to 4. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News. The content on this site, including news, quotes, data and other information, is provided by AFX News and its third party content providers for your personal information only, and neither AFX News nor its third party content providers shall be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. read more

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Reuters is the world’s largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters. Reuters journalists are subject to the Reuters Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here . read more

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Business – To temper peso, BSP may further ease forex rules – INQUIRER. MANILA, Philippines–The central bank, Bangko Sentral ng Pilipinas (BSP), may be forced to further ease foreign exchange rules to address the sharp rise of the peso, according to a paper by investment bank DBS. Exporters and families of overseas Filipino workers (OFWs) — badly hit by the steep climb of the peso — have been urging government for so long to temper the strengthening currency. In its latest assessment of emerging and industrialized economies, DBS noted that the Philippine peso is the strongest Asian currency so far this year, marking a year-to-date appreciation of 19. Increasing the overbought limit was a response to the increasing foreign exchange requirements of the corporate sector and helped temper the rise of the peso, the BSP had said. The Department of Finance earlier said measures were being prepared to temper the rise of the peso and ease the ill effects on OFWs. read more

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MUMBAI (Thomson Financial) – Fitch Ratings said it has upgraded Japan’s third-largest construction contractor Shimizu Corp’s long-term foreign and local currency issuer default ratings (IDR) to ‘BBB’ from ‘BBB-‘ with a stable outlook reflecting the sustained strengthening of the company’s financial profile in the last five years. The stable outlook is based on the agency’s expectation that Shimizu, given its strong market position in the growing non-housing private construction market and diversified business base in the real estate development, is able to keep the current profit levels, Fitch said. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News. The content on this site, including news, quotes, data and other information, is provided by AFX News and its third party content providers for your personal information only, and neither AFX News nor its third party content providers shall be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. read more

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Reuters is the world’s largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters. Reuters journalists are subject to the Reuters Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here . read more

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Al-Ayyam newspaper, which usually follows the official line, also carried the some of the remarks on Tuesday without a full quotation. Ajai Chowdhry, chairperson and CEO of HCL Infosystems, has been conferred the award for IT Person of the Year 2007 by Dataquest, the premier magazine of the IT industry published by the CyberMedia group. Should the land cap on SEZs be lifted? Copyright © 2007 Times Internet Limited. This site is best viewed with Internet Explorer 6. read more

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