KARACHI: The Karachi cotton market witnessed a moderate trading session on Wednesday while the spot rates remained firm, dealers said. Some deals changed hands between ginners, withholding fine stocks and spinners on future delivery on slightly higher prices, brokers said. A senior trader, Ghulam Rabbani said the spot rates at Karachi Cotton Association (KCA) stayed firm at Rs 3,150 per maund. Traders in the domestic market traded cotton in a range of Rs 3,050 per maund to Rs 3,350 per maund. There is a contract brought on the records for about 13,000 bales at Rs 3,300 per maund in upper Sindh. He said international spot market activity remains subdued but somewhat active according to some international merchants. The ICAC issued monthly supply and demand estimate for 2007-08. World production was estimated at 123.8 million bales down from 124.0 million bales in January.

Thomson Financial UK at a glance share guide - weekend

LONDON, Feb. 17, 2008 (Thomson Financial delivered by Newstex) -- MARKETSFTSE 100 5,787.6, down 91.7FTSE 250 9,897.9, down 191.3DJIA 12,348.21, down 28.77Nasdaq Comp 2,321.80, down 10.74S&P 500 1,349.99, up 1.13Gold 908.45 usd (911.55 usd)Oil Brent Apr 94.63 usd (95.16 usd) WEEKEND PRESS* Two of Britain's bigest banks, Barclays (NYSE:BCS) and Lloyds TSB, will this week attempt to lift the climate of fear surrounding the country's financial institutions by declaring an unexpected increase in dividend payments - Sunday Times* Barclays and Royal Bank of Scotland exposed to at least 10 bln stg worth of toxic credit investments; such investments are expected to lead to Britain's banks revealing billions of pounds of losses during the next three weeks - Sunday Express* BBC eyeing fresh plans for the partial sale or stock-market flotation of BBC Worldwide, its commercial division, by 2012; analysts value BBC Worldwide at more than 2 bln stg - Sunday Times* AOL, the American internet company, attempting to piece together a deal with Yahoo (NASDAQ:YHOO) ! designed to help the Silicon Valley-based search engine evade the clutches of Microsoft (NASDAQ:MSFT) - Sunday Telegraph* Marks & Spencer's womenswear business has lost market share in the weeks since Christmas as shoppers' love affair with Twiggy fizzles out - Observer* Barratt Developments, Britain's biggest housebuilder, at risk of breaching its banking covenants; with debt approaching 2 bln stg, the builder needs to reduce its debt by 100 mln stg; as things stand, it would break its contractual obligations with the banks - Observer* Vale, the Brazilian mining firm stalking Xstrata, is restructuring its informal offer to contain more cash because the value of its shares has stumbled - Sunday Express* Guy Hands, one of Britain's best-known financiers, adds his voice to the escalating row over the City's remuneration culture, accusing governments of exacerbating 'bonus-chasing' through ill-judged tax regimes - Sunday Telegraph* British Airways faces Easter strike threat - Sunday Express* BAA, owner of seven airports in the UK, including Heathrow and Gatwick, struggling under the burden of huge debts and the effects of the global credit crunch; speculation growing that Ferrovial, the Spanish infrastructure group that owns BAA, could be forced to sell off an airport to make ends meet - Sunday Telegraph* Schroders buys a stake of almost 3 pct in Sports Direct, the troubled retailer owned by Mike Ashley, the billionaire tycoon - Sunday Telegraph* Digby Jones, Britain's trade and investment minister, accuses the US of being a protectionist economy and speaks of his fears that a new president will lead the country into 'another bout of isolation' - Observer* Reed Elsevier (NYSE:RUK) (NYSE:ENL) drawing up plans to axe more than 1,000 jobs as part of a continuing efficiency drive - Sunday Telegraph* British Sky Broadcasting to fight ruling that will cut its ITV stake; broadcaster says decision to appeal against Competition Commission judgment not aimed at the government - Sunday Telegraph * BT seeking late inclusion in bidding for the 10 bln stg National Identity Scheme, which could herald the introduction of biometric ID cards - Sunday Express* BT ready to bid millions for Setanta; Irish pay-TV company's live Premier League football is a huge draw - Mail on Sunday* Office of Fair Trading poring over Home Retail Group's 40 mln stg acquisition of stores from rival Focus DIY in an investigation that could result in some forced disposals - Observer* London house prices slow as foreign buyers head for US; London house prices rising at less than half the 2 pct pace of last February, property website Rightmove will report tomorrow - Observer* Embattled fund management group New Star planning to make a multi-million-pound investment in shares of bombed-out property companies - Mail on Sunday* Sir William Castell drops out of the race for BP (TSX:BP'U) chairmanship - Sunday Telegraph* Germans' cut-price lobster puts the squeeze on Tesco in the battle over Middle Britain; Lidl and Aldi go on attack with luxury seafood and 7.99 stg Chateau wine - Mail on Sunday* Tesco will be forced to drop its strategy of preventing rival store openings by imposing restrictions on local landowners, Competition Commission warns - Sunday Express* Tesco slams competition test; food retailer hits at 'American' regulation; group would find it harder to build stores; Tesco accuses the commission, which has spent almost two years investigating the grocery sector, of trying to cap its growth and tampering with the free market - Saturday FT* Prudential believed to have shut its pension fund buyout unit to new business because it does not want to be dragged into the price war that has broken out in the industry - Sunday Express* Private investors have pulled billions of pounds out of some of the UK's best known mutual funds in recent months, in a sign of jitters about the downturn in markets and the economy - Saturday FT* The executive who led the Qatari government's aborted bid for Sainsbury in talks to refinance a 1.3 bln stg debt mountain at Four Seasons Health Care, the nursing home chain - Sunday Telegraph* Bradford & Bingley has blocked directors from dealing in the bank's shares until the worst of the credit crunch has passed to protect them from accusations of insider dealing - Sunday Telegraph* Virgin issues ultimatum over Northern Rock.

Chicago trader fulfilled dreams of adventure

After more than two decades of cheating death in his quest for world records and heart-stopping thrills, Chicago businessman Steve Fossett died doing what he loved: flying solo, planning his next adventure.

On Friday, months after Mr. Fossett disappeared in a remote Nevada desert, a judge in Chicago declared him legally dead. His body has not been found.

He has been missing since Sept. 3, when he took off on what was to have been an easy three-hour flight to scout for dry lake beds for use in his upcoming attempt to break the land speed record in a car whose engine once powered an Air Force fighter jet.

Sandler and Rock nationalisation

Shareholders are voting too on whether the newish chairman, Bryan Sanderson, and some recently recruited non-executives should remain in place.

That momentous nationalisation decision is probably only days away.

Soft miners, banks keep lid on stocks

THE Australian stock market was little changed at noon amid subdued trading, although the big miners were weaker after base metals prices came under pressure again.

The benchmark S&P/ASX200 index was 0.4 points higher at 6334.7, while the All Ordinaries had gained 1.1 points to 6396.2. On the Sydney Futures Exchange, the December share price index contract was seven points lower at 6364 on a volume of 5,580 contracts. Austock Securities senior client adviser Michael Heffernan said the market lacked firm direction. "It's been a bit choppy, which is not surprising given the fact that is no lead from our normal leader, which is the US," Mr Heffernan said. "Commodity prices were a bit on the soft side.' "It is interesting that the major drivers of our market, the banks and financial sectors, are in negative territory." Following a round of profit-taking in the past couple of sessions, it could be time for investors to buy again, Mr Heffernan said.

Candidates make final push before 'Super Tuesday'

A Democrat victory in November's U.S. presidential race may well create a world-wide economic downturn that will make the current (healthy) downturn seem like a walk in the park. The short-term solution is to elect U.S. leaders who understand the importance of free-market capitalism. The long-term solution is to teach economics in government-run schools to create a population of voters who are able to intelligently evaluate the claims and promises of candidates who claim that government actions can regulate economic swings. We teach physical and biological sciences, but the "dismal science" is totally neglected.