LONDON, October 15, 2010 - Gold, tin, rubber and cotton hit record peaks this week, aided by keen demand, the tumbling dollar and strengthening hopes of new monetary easing measures from the US Federal Reserve, analysts said. "Commodity prices continued to post strong gains throughout the week, with gold, tin, rubber and cotton hitting record highs, and other commodities hitting multi-year peaks," said Barclays Capital analyst Kerri Maddock. "While this price strength has been widely attributed to the weakness of the dollar in the media, the underlying fundamentals (of supply and demand) have continued to improve, making these price moves justified in our view." The dollar was rocked on Tuesday after the Fed hinted that it would likely adopt more quantitative easing (QE) measures -- by buying up bonds and other assets -- to boost the faltering American economy. The news, contained in minutes from the Fed's September interest rate meeting, sent the dollar reeling because the … [Read more...] about Commodities smash records in historic week
Top headline news this week
News of the World presses roll for the last time
Britain's News of the World went to press for the last time on Saturday, ending its 168-year history of scoops and scandal with the headline "Thank You and Goodbye." In a full-page editorial published online, Britain's top-selling weekly tabloid apologised to readers for the phone hacking scandal that caused its closure, saying: "Quite simply, we lost our way." But the row is far from over, and as owner Rupert Murdoch headed to London to take personal charge of dealing with the crisis, it was reported that police would soon be questioning one of his top British executives, Rebekah Brooks. After an emotional final day on Saturday, News of the World editor Colin Myler led staff out of its offices in Wapping, east London for the last time. "I want to pay tribute to this wonderful team of people here, who, after a really difficult day, have produced in a brilliantly professional way a wonderful newspaper," Myler told reporters outside. More than 200 staff at the News of the World now face … [Read more...] about News of the World presses roll for the last time
Pakistan arrests one of Taliban’s top three
Pakistani security forces captured one of the Taliban's three most senior leaders just hours after US Vice President Dick Cheney's unannounced visit to Pakistan earlier this week. The capture of Mullah Obaidullah Akhund marked the first Pakistan arrest of a senior leader of the Islamist militia since it was driven from power in Afghanistan in 2001 when thousands of its fighters fled into Pakistan, a senior security official said. Taliban sources told Reuters that Akhund, the third most senior member of the Taliban's 10-member leadership council, was arrested late on Monday in the southwest city of Quetta. Government and military spokesmen denied the arrest had been made -- or said they had no knowledge of it -- when asked by Reuters, but the story was also front page news in Dawn, a leading Pakistani daily, on Friday. "Mullah Omar's deputy Obaidullah captured" was the headline in a report that was also sourced to an unnamed official. Aside from being on the leadership … [Read more...] about Pakistan arrests one of Taliban’s top three
Read our print edition this week
Pick up the latest Vietweek issue at only VND6,800 for the full stories. Vietweek is published every Friday. Our free home delivery service is available in most districts in Ho Chi Minh City and Hanoi. Please contact your nearest post office for other delivery options. January 25-31, 2013 TOP HEADLINES Good news, bad news Vietnam enjoys first trade surplus in two decades, but local firms get wafer-thin slices of export pie Wield the stick Severe punishment for transfer pricing fraud key to stopping further abuse by foreign firms Simply ao dai "Tailor" gets to exhibit no-frills designs at American Museum of National History in New York Eerie disease Parasitic worm infections fairly common in Vietnam, early detection and treatment advised Staying pricey Luxury apartment developer refuses to budge on high prices despite prolonged market slump Safe for now WHO weighs in on vaccine deaths, saying no causal link established … [Read more...] about Read our print edition this week
Berlusconi’s top ally tells him to resign
Silvio Berlusconi's closest coalition ally, Umberto Bossi, told him to resign on Tuesday in what could be a mortal blow to the Italian prime minister before a crunch vote in parliament. Bossi, head of the devolutionist Northern League, said the 75-year-old media magnate should be replaced by Angelino Alfano, secretary of the premier's PDL party. "We asked the prime minister to stand down," Bossi told reporters outside parliament. Berlusconi had remained defiant ahead of Tuesday afternoon's vote on a public finance measure, rejecting calls from all sides to step down. But Bossi's action could tip the balance against him as red lights flash on bond markets about Italy's instability. The League, together with many members of the PDL, were believed to want Berlusconi to make way for a new center-right government capable of tackling a huge economic crisis and restoring the confidence of markets without handing power to a transitional administration. Earlier, in another sign … [Read more...] about Berlusconi’s top ally tells him to resign