Financial News

Gold Trades Near Four-Month Low as Dollar's Gains Reduce Investment Appeal Gold traded near its lowest in four months, almost erasing this year's gains after the dollar's rally to a five-week high against euro eroded the precious metal's appeal as an alternative asset. Crude Oil Rises as Turkey Bombs Kurdish Rebels in Iraq, U.S. Dollar Slides Crude oil rose for the first day in four as Turkey renewed its offensive against Kurdish rebels in Iraq, holder of the world's third-biggest oil reserves. Food Crisis Erases Ethiopians' Gains, Diverting Funds From Health, Schools Shagay Shanko and her husband left a struggling family farm in southern Ethiopia 12 years ago to seek work in the nation's capital. The couple found construction jobs that paid $2 a day, enough to add meat to their diet. Platinum Futures Drop in Tokyo as Investors Shift From Metal to Equities Platinum futures in Tokyo fell to the lowest in more than a month as a stronger dollar and a rally in Japanese and global equities lured investors to shares. Exxon's Nigerian Oil Strike Ends as Workers Ordered to Restore Production Nigerian oil workers ended an eight-day strike that had halted production at Exxon Mobil Corp.'s local unit after union leaders and company officials said they negotiated an agreement. Tanzania 2007 Mobile Phone Users Rose 46% to 8.2 Million, Citizen Reports Tanzania's mobile-phone customers increased 46 percent in 2007 to 8.2 million subscribers from 5.6 million a year earlier, the Citizen reported, citing the Tanzania Communications Regulatory Authority. Platinum Increases in Tokyo After Fed Rate Cut, Outlook for Weaker Dollar Platinum futures in Tokyo fell for the fourth time in five days after the dollar gained on the Federal Reserve's signal that it may pause in cutting interest rates. South African Rand Heads for Its Biggest Monthly Gain in Almost Four Years South Africa's rand posted its biggest monthly gain in almost four years as speculation interest rates will rise in the continent's biggest economy stoked demand for the currency. General News Dubai Holding Commercial 2007 Net Jumps 82 Percent on Gulf Property Sales Dubai Holding Commercial Operations Group LLC, a company owned by Dubai ruler Sheikh Mohammed bin Rashid al Maktoum, said full-year profit rose 82 percent on surging land and property sales. U.S., Russia, EU, UN Call on Israel to Freeze `All Settlement Activities' The Middle East Quartet called on Israel to halt the building of settlements, UN Secretary-General Ban Ki-Moon said after a meeting of the so-called Quartet of Middle East peace mediators. Rice Seeks More Financial Help for Palestinian Authority in Peace Effort Secretary of State Condoleezza Rice will press Arab nations to step up financial contributions to a Palestinian government struggling to maintain support at home for peace negotiations with Israel.