Trading And Finance

WASHINGTON: Evidence is mounting that the longest recession since World War II is losing its grip on the US economy.

The latest hint is due Friday when the government releases data on consumer spending and income for July.

Personal spending is expected to have posted a modest gain last month, driven higher by the popular Cash for Clunkers program. Economists surveyed by Thomson Reuters expect personal spending rose 0.2 per cent in July after a 0.4 per cent gain in June. continue reading…

SIALKOT: Pakistan is all set to reclaim its soccer ball market from China and India as both are unable to meet the required standards of hand-stitched balls.

‘We have the capacity to export soccer balls worth $100 million before the Football World Cup 2010 if the government helps in exploring markets especially Latin America and Asia Pacific,’ observed Prof Safdar Sandal, former chairman of Pakistan Sports Goods Manufacturers and Exporters Association (PSGMEA). continue reading…

LONDON: Oil prices edged towards $73 on Friday, extending the previous day’s rally as the market was buoyed by rising equities and a weakening US dollar, analysts said.

New York’s main futures contract, light sweet crude for October delivery, rose 21 cents to $72.70 a barrel in afternoon trade. continue reading…