Shall I tell you where the dead are?
Shall I tell you where the dead are?
You won't find them in the sky
Their faces don't grace clouds,
or rest in a person's eye
Shall I tell you where the dead are?
You won't find them on the street
If you missed them the first time,
then there's no chance they'll repeat
Shall I tell you where the dead are?
You won't find them on a wall
A picture is but a picture,
and that just won't do at all
Shall I tell you where the dead are?
You won't find them in a book
Better catch them while they're living
Better have yourself a look
Shall I tell you where the dead are?
You won't find them in a voice
They've moved on to different pastures,
but not one is there by choice
Shall I tell you where the dead are?
Very well, you'll get your way
The dead rest in the ground,
and it's there they'll always stay
Wednesday, March 30, 2011
nano mean
Nanotechnology
(sometimes shortened to "nanotech") is the study of manipulating matter on an atomic and molecular scale. Generally, nanotechnology deals with structures sized between 1 to 100 nanometre in at least one dimension, and involves developing materials or devices possessing at least one dimension within that size. Quantum mechanical effects are very important at this scale, which is in the quantum realm.
Nanotechnology is very diverse, ranging from extensions of conventional device physics to completely new approaches based upon molecular self-assembly, from developing new materials with dimensions on the nanoscale to investigating whether we can directly control matter on the atomic scale.
There is much debate on the future implications of nanotechnology. Nanotechnology may be able to create many new materials and devices with a vast range of applications, such as in medicine, electronics, biomaterials and energy production. On the other hand, nanotechnology raises many of the same issues as any new technology, including concerns about the toxicity and environmental impact of nanomaterials,[1] and their potential effects on global economics, as well as speculation about various doomsday scenarios. These concerns have led to a debate among advocacy groups and governments on whether special regulation of nanotechnology is warranted.
(sometimes shortened to "nanotech") is the study of manipulating matter on an atomic and molecular scale. Generally, nanotechnology deals with structures sized between 1 to 100 nanometre in at least one dimension, and involves developing materials or devices possessing at least one dimension within that size. Quantum mechanical effects are very important at this scale, which is in the quantum realm.
Nanotechnology is very diverse, ranging from extensions of conventional device physics to completely new approaches based upon molecular self-assembly, from developing new materials with dimensions on the nanoscale to investigating whether we can directly control matter on the atomic scale.
There is much debate on the future implications of nanotechnology. Nanotechnology may be able to create many new materials and devices with a vast range of applications, such as in medicine, electronics, biomaterials and energy production. On the other hand, nanotechnology raises many of the same issues as any new technology, including concerns about the toxicity and environmental impact of nanomaterials,[1] and their potential effects on global economics, as well as speculation about various doomsday scenarios. These concerns have led to a debate among advocacy groups and governments on whether special regulation of nanotechnology is warranted.
Wednesday, February 23, 2011
President opening lines repeat of 2010: Yechury
NEW DELHI: Does the government know when the new decade actually began? No, said CPM's Sitaram Yechury, pointing out that the opening lines of President Pratibha Patil's address to Parliament this year were the same as in 2010.
Taking several digs at the Union cabinet, which approves the presidential address, Yechury said on Wednesday that the first sentence of the President's speech on February 22, 2010 read: "My greetings to you as you assemble here today for the first session of both houses of Parliament in the new decade.'' And this year, she said, "I welcome you to the first session of the new decade.''
"This government is in a sense of stupor...it's unable to make up its mind when the decade begins! It's an amazing thing. The President's speech actually reflects a directionless drift that this government has been gripped in,'' Yechury said in the Rajya Sabha while speaking on the motion of thanks to the President.
With this, the CPM leader mounted a blistering attack on government for creating avenues for corruption and promoting crony capitalism, demanding that concessions worth several lakhs of rupees being given to corporates and high-end taxpayers should instead be used to narrow the rich-poor gap.
BJP's Ram Jethmalani too launched a scathing attack against the government over the issue of black money saying that the government was not interested in getting back over $1,500 billion dollars.
However, in Lok Sabha, Jagdambika Pal (Congress) praised government's vision to alleviate the misery of the common man, which was reflected in the President's speech.
But Yechury said there are two Indias in the making -- the IPL India and the BPL (below poverty line) India -- given the government's faulty and lopsided policies.
"The only deficit we talked about earlier was the fiscal deficit. Today, we have ethical deficit, moral deficit, governance deficit...Corruption cannot be fought without fighting the entire trajectory of your neo-liberal economic reforms,'' he said.
Demanding a course-correction, he said living conditions of the people had "abysmally deteriorated'' while multi-billion tax concessions -- worth Rs 2,25,000 crore in the last two years -- were being given to corporates and high-end tax payers.
If these tax concessions had been collected and invested in food security, right to education, health and infrastructure, they would have generated massive employment, demand and "real inclusive economic growth'', he said.
Referring to the 2G telecom scam, he said, "You have chosen not to tax the corporates but the scam lies in the fact that the licences were sold at least six times their value within six months.''
If the government had agreed for a JPC earlier, Parliament's winter session could have been saved. "We wanted a JPC to examine how our system could be so manipulated to allow such a big scam,'' he said.
Speaking after Yechury, Rajeev Shukla (Cong) urged the Opposition to restrain itself from painting an entirely negative image of the government, holding that it impacted foreign direct investment in the country.
Applauding the decision for a JPC probe into the 2G spectrum allocation, he said, "JPC probe should be 1990 onwards...if possible, probe should be done on disinvestments too....either by Arun Shourie or us.''
Taking several digs at the Union cabinet, which approves the presidential address, Yechury said on Wednesday that the first sentence of the President's speech on February 22, 2010 read: "My greetings to you as you assemble here today for the first session of both houses of Parliament in the new decade.'' And this year, she said, "I welcome you to the first session of the new decade.''
"This government is in a sense of stupor...it's unable to make up its mind when the decade begins! It's an amazing thing. The President's speech actually reflects a directionless drift that this government has been gripped in,'' Yechury said in the Rajya Sabha while speaking on the motion of thanks to the President.
With this, the CPM leader mounted a blistering attack on government for creating avenues for corruption and promoting crony capitalism, demanding that concessions worth several lakhs of rupees being given to corporates and high-end taxpayers should instead be used to narrow the rich-poor gap.
BJP's Ram Jethmalani too launched a scathing attack against the government over the issue of black money saying that the government was not interested in getting back over $1,500 billion dollars.
However, in Lok Sabha, Jagdambika Pal (Congress) praised government's vision to alleviate the misery of the common man, which was reflected in the President's speech.
But Yechury said there are two Indias in the making -- the IPL India and the BPL (below poverty line) India -- given the government's faulty and lopsided policies.
"The only deficit we talked about earlier was the fiscal deficit. Today, we have ethical deficit, moral deficit, governance deficit...Corruption cannot be fought without fighting the entire trajectory of your neo-liberal economic reforms,'' he said.
Demanding a course-correction, he said living conditions of the people had "abysmally deteriorated'' while multi-billion tax concessions -- worth Rs 2,25,000 crore in the last two years -- were being given to corporates and high-end tax payers.
If these tax concessions had been collected and invested in food security, right to education, health and infrastructure, they would have generated massive employment, demand and "real inclusive economic growth'', he said.
Referring to the 2G telecom scam, he said, "You have chosen not to tax the corporates but the scam lies in the fact that the licences were sold at least six times their value within six months.''
If the government had agreed for a JPC earlier, Parliament's winter session could have been saved. "We wanted a JPC to examine how our system could be so manipulated to allow such a big scam,'' he said.
Speaking after Yechury, Rajeev Shukla (Cong) urged the Opposition to restrain itself from painting an entirely negative image of the government, holding that it impacted foreign direct investment in the country.
Applauding the decision for a JPC probe into the 2G spectrum allocation, he said, "JPC probe should be 1990 onwards...if possible, probe should be done on disinvestments too....either by Arun Shourie or us.''
Dr Reddy's Phase III drug stumbles
The much-hyped anti-diabetic drug Balaglitazone of the pharma major Dr Reddy’s Laboratories (DRL) seems to be in trouble with the company not able to find a partner to take the discovery of the molecule forward.
“It is becoming difficult for us to find a partner for the drug research,” K Anji Reddy, DRL’s chairman, said.
Balaglitazone is a type-2 diabetic controller molecule, which is going through Phase-III trials. The Danish research company Rheoscience is already partnering with DRL for the drug development.
“Drug discovery is a high risk business where failure is more the norm than exception. We have to accept failures. Ten years of work has gone into flames,” Reddy said.
DRL has already announced that the drug met its primary endpoint of lowering blood sugar with few adverse events.
However, a similar compound was banned in Europe recently making it difficult for DRL to find a partner to take the research forward. This is said to have affected the progress of the research.
“We could not find partners for the drug,” Reddy said.
In 1997, Dr Reddy’s licensed Balaglitazone to Novo Nordisk. But in 2004, after Phase II studies, Novo Nordisk decided to terminate further clinical development of Balaglitazone as the Phase II results did not suggest a sufficient competitive advantage compared to the existing products.
Later the company entered into an agreement with Rheoscience for taking the research forward. However, the company in a statement on the status of the research said, “Additional clinical studies would depend on the breadth of the labelling sought feedback from the regulators. Dr Reddy’s and Rheoscience intend to seek an additional partner to complete the required phase III studies prior to approval. The strategy would be finalised with the
“It is becoming difficult for us to find a partner for the drug research,” K Anji Reddy, DRL’s chairman, said.
Balaglitazone is a type-2 diabetic controller molecule, which is going through Phase-III trials. The Danish research company Rheoscience is already partnering with DRL for the drug development.
“Drug discovery is a high risk business where failure is more the norm than exception. We have to accept failures. Ten years of work has gone into flames,” Reddy said.
DRL has already announced that the drug met its primary endpoint of lowering blood sugar with few adverse events.
However, a similar compound was banned in Europe recently making it difficult for DRL to find a partner to take the research forward. This is said to have affected the progress of the research.
“We could not find partners for the drug,” Reddy said.
In 1997, Dr Reddy’s licensed Balaglitazone to Novo Nordisk. But in 2004, after Phase II studies, Novo Nordisk decided to terminate further clinical development of Balaglitazone as the Phase II results did not suggest a sufficient competitive advantage compared to the existing products.
Later the company entered into an agreement with Rheoscience for taking the research forward. However, the company in a statement on the status of the research said, “Additional clinical studies would depend on the breadth of the labelling sought feedback from the regulators. Dr Reddy’s and Rheoscience intend to seek an additional partner to complete the required phase III studies prior to approval. The strategy would be finalised with the
Cricket Cricket World Cup: Pakistan grapple with Sri Lanka M-factor
COLOMBO: Pakistan will look to blunt Lasith Malinga and wily off-spinner Muttiah Muralitharan in their Group A encounter against Sri Lanka on Saturday, with captain Shahid Afridi confident of a win.
Co-hosts Sri Lanka, champions in 1996, and 1992 winners Pakistan are off to flying starts in the tournament with convincing wins against minnows Canada and Kenya, and are primed for their first big match.
"I am confident that we are up to the Sri Lankan challenge and ready for anything they throw at us, whether its Malinga or Muralitharan," said Afridi.
Muralitharan, who has a world record 521 wickets in 342 one-day internationals, has a tally of 95 against Pakistan in 64 matches, and is even more dangerous in home conditions.
"In Sri Lankan conditions and pitches, he (Muralitharan) is always very dangerous and he could probably turn the ball on the marble as well. He has so much experience and knows conditions well and that's why he is the best," said Afridi.
Afridi said Malinga, renowned for his slingy action, would find it tough after missing the Canada match due to a back strain.
"Malinga is a very good bowler but he is coming back from an injury, so let's see how strong he is and how much he can adjust to the conditions," said Afridi.
Malinga has just ten wickets in nine matches against Pakistan including a best of 5-34.
Pakistan have also handled spinner Ajantha Mendis well. He has ten wickets against them in six matches.
Afridi hoped the sell-out match would be entertaining in a World Cup that needs a blockbuster clash between two of the big guns.
"It will be a good game. If we bowl well, bat well and go with positive body language and show more readiness for the game and willingness to win, I am sure we can pull it off," said Afridi.
Pakistan have never lost a World Cup match against Sri Lanka in six previous attempts but they were all before Sri Lanka became one of the top sides in the world game.
"The last match Sri Lanka played against us their fast bowlers did really well and they have a very good team combination. They've got good new guys in the side so we will have to play with our full strength and to win against them we need to give more than 100 percent effort," said Afridi.
Pakistan will look to improve on their starts -- both in batting and bowling -- at the match in Colombo.
"We are not short on motivation and our energy levels are good," said Afridi, looking to restrict the in-form Mahela Jayawardene, who scored a match-winning hundred during the team's 210-run win over Canada.
Besides Jayawardene, captain Kumar Sangakkara, Tillakaratne Dilshan and Upul Tharanga are in good form with the bat.
Jayawardene acknowledged Pakistan were a dangerous side.
"They (Pakistan) are a very good side, so we look forward to playing Pakistan. The boys showed great attitude in the match against Canada," said Jayawardene.
Sri Lanka will likely bring Malinga into the side in place of Thisara Perera, who took three wickets in the Canada match.
Pakistan will try to squeeze in off-spinner Saeed Ajmal, who has not played since his father's death in January this year. (AFP)
Co-hosts Sri Lanka, champions in 1996, and 1992 winners Pakistan are off to flying starts in the tournament with convincing wins against minnows Canada and Kenya, and are primed for their first big match.
"I am confident that we are up to the Sri Lankan challenge and ready for anything they throw at us, whether its Malinga or Muralitharan," said Afridi.
Muralitharan, who has a world record 521 wickets in 342 one-day internationals, has a tally of 95 against Pakistan in 64 matches, and is even more dangerous in home conditions.
"In Sri Lankan conditions and pitches, he (Muralitharan) is always very dangerous and he could probably turn the ball on the marble as well. He has so much experience and knows conditions well and that's why he is the best," said Afridi.
Afridi said Malinga, renowned for his slingy action, would find it tough after missing the Canada match due to a back strain.
"Malinga is a very good bowler but he is coming back from an injury, so let's see how strong he is and how much he can adjust to the conditions," said Afridi.
Malinga has just ten wickets in nine matches against Pakistan including a best of 5-34.
Pakistan have also handled spinner Ajantha Mendis well. He has ten wickets against them in six matches.
Afridi hoped the sell-out match would be entertaining in a World Cup that needs a blockbuster clash between two of the big guns.
"It will be a good game. If we bowl well, bat well and go with positive body language and show more readiness for the game and willingness to win, I am sure we can pull it off," said Afridi.
Pakistan have never lost a World Cup match against Sri Lanka in six previous attempts but they were all before Sri Lanka became one of the top sides in the world game.
"The last match Sri Lanka played against us their fast bowlers did really well and they have a very good team combination. They've got good new guys in the side so we will have to play with our full strength and to win against them we need to give more than 100 percent effort," said Afridi.
Pakistan will look to improve on their starts -- both in batting and bowling -- at the match in Colombo.
"We are not short on motivation and our energy levels are good," said Afridi, looking to restrict the in-form Mahela Jayawardene, who scored a match-winning hundred during the team's 210-run win over Canada.
Besides Jayawardene, captain Kumar Sangakkara, Tillakaratne Dilshan and Upul Tharanga are in good form with the bat.
Jayawardene acknowledged Pakistan were a dangerous side.
"They (Pakistan) are a very good side, so we look forward to playing Pakistan. The boys showed great attitude in the match against Canada," said Jayawardene.
Sri Lanka will likely bring Malinga into the side in place of Thisara Perera, who took three wickets in the Canada match.
Pakistan will try to squeeze in off-spinner Saeed Ajmal, who has not played since his father's death in January this year. (AFP)
Bips, Deepika's fight over first look
It seems the title song of Rohan Sippy's Dum Maro Dum, an item number picturised on Deepika Padukone, has ruffled quite a few feathers.
First it was Dev Anand who raised an objection to how no one had contacted him about the rights of the song from his 1970s blockbuster Hare Rama Hare Krishna.
Then it was the Goan government itself that started getting tetchy about how the tropical paradise was being depicted (accurately, some could say, with Russian mafia and drugged out teens).
Now apparently Bipasha Basu, the leading lady of the film is stomping her foot; the item number, starring Deepika Padukone, is what is being perceived as the first look of the film. In fact the poster only has Deepika grooving to the number and no one else.
This is giving the impression that it is a Deepika starrer. Bips has been pipped! It needs to be reminded that Deepika and Bips also had a cold war when starring together in Bachna Ae Haseeno, starring poster boy Ranbir.
Our source from the production house said, "There were various debates about how the first look poster of the film will be made.
Finally it was decided that rather than having Abhishek Bachchan and Bipasha Basu on the posters of the film it would be nice to have Deepika who features in the item song `Dum Maro Dum'.
When Bipasha learnt about the poster she was not very happy and called Rohan Sippy who explained his promotional strategy to her."
When contacted Rohan Sippy said, "Deepika is doing a title song of the film. On the teaser poster you can hardly recognise Deepika.
It's brand Dum Maaro Dum and Bipasha is the female lead of the film. But I guess that's what happens with guest numbers and with iconic songs."
On the other hand, Bipasha denied any dispute and said, "I was the first one to tweet about the first look of DMD because I loved it and am super excited about our film.
Deepika is a super dancer and has done total justice to our song. There are no controversies here."
First it was Dev Anand who raised an objection to how no one had contacted him about the rights of the song from his 1970s blockbuster Hare Rama Hare Krishna.
Then it was the Goan government itself that started getting tetchy about how the tropical paradise was being depicted (accurately, some could say, with Russian mafia and drugged out teens).
Now apparently Bipasha Basu, the leading lady of the film is stomping her foot; the item number, starring Deepika Padukone, is what is being perceived as the first look of the film. In fact the poster only has Deepika grooving to the number and no one else.
This is giving the impression that it is a Deepika starrer. Bips has been pipped! It needs to be reminded that Deepika and Bips also had a cold war when starring together in Bachna Ae Haseeno, starring poster boy Ranbir.
Our source from the production house said, "There were various debates about how the first look poster of the film will be made.
Finally it was decided that rather than having Abhishek Bachchan and Bipasha Basu on the posters of the film it would be nice to have Deepika who features in the item song `Dum Maro Dum'.
When Bipasha learnt about the poster she was not very happy and called Rohan Sippy who explained his promotional strategy to her."
When contacted Rohan Sippy said, "Deepika is doing a title song of the film. On the teaser poster you can hardly recognise Deepika.
It's brand Dum Maaro Dum and Bipasha is the female lead of the film. But I guess that's what happens with guest numbers and with iconic songs."
On the other hand, Bipasha denied any dispute and said, "I was the first one to tweet about the first look of DMD because I loved it and am super excited about our film.
Deepika is a super dancer and has done total justice to our song. There are no controversies here."
Apple May Unveil Updated IPad on March 2 in San Francisco
Apple Inc. , the world's biggest technology company by market value, may unveil its new iPad tablet computer at an event March 2 in San Francisco.
An Apple invitation sent to reporters today with the image of a corner of an iPad, says, "Come see what 2011 will be the year of." The event will be held at 10 a.m. local time.
The original iPad went on sale April 3, and Apple sold almost 15 million units through its first fiscal quarter , which ended Dec. 25. The device accounted for 17 percent of revenue in the period, compared with 39 percent for the iPhone, which first reached the market in 2007.
The timing of the March 2 event would put the iPad on an annual cycle of updates similar to those of the iPhone and iPod media player, and keep Apple ahead of competitors, said Scott Sutherland, an analyst at Wedbush Securities Inc. in San Francisco.
"The tablet becomes the next growth starter for the next two years for Apple," said Sutherland, who rates Apple shares "outperform" and doesn't own any. The company is releasing a second edition while many competitors are introducing their first tablets, he said.
Motorola Mobility Holdings Inc.'s Xoom tablet will be available tomorrow, and Research In Motion Ltd. plans to release four versions of its PlayBook this year.
Battery Life
Mike Abramsky , an analyst at RBC Capital Markets in Toronto, said in November that Apple may introduce a thinner iPad in the first half of 2011. Richard Doherty , director of consulting firm Envisioneering Group in Seaford, New York, said today he expects the updated iPad to offer longer battery life and front- and rear-facing cameras.
Apple is boosting its sales force to focus on burgeoning demand from business customers, particularly for the iPhone and iPad, Chief Operating Officer Tim Cook told a shareholders' meeting today.
"We've never seen anything like this before," Cook said.
Apple, based in Cupertino, California, rose $4.01 to $342.62 at 4 p.m. New York time in Nasdaq Stock Market trading. The shares have gained 6.2 percent this year.
An Apple invitation sent to reporters today with the image of a corner of an iPad, says, "Come see what 2011 will be the year of." The event will be held at 10 a.m. local time.
The original iPad went on sale April 3, and Apple sold almost 15 million units through its first fiscal quarter , which ended Dec. 25. The device accounted for 17 percent of revenue in the period, compared with 39 percent for the iPhone, which first reached the market in 2007.
The timing of the March 2 event would put the iPad on an annual cycle of updates similar to those of the iPhone and iPod media player, and keep Apple ahead of competitors, said Scott Sutherland, an analyst at Wedbush Securities Inc. in San Francisco.
"The tablet becomes the next growth starter for the next two years for Apple," said Sutherland, who rates Apple shares "outperform" and doesn't own any. The company is releasing a second edition while many competitors are introducing their first tablets, he said.
Motorola Mobility Holdings Inc.'s Xoom tablet will be available tomorrow, and Research In Motion Ltd. plans to release four versions of its PlayBook this year.
Battery Life
Mike Abramsky , an analyst at RBC Capital Markets in Toronto, said in November that Apple may introduce a thinner iPad in the first half of 2011. Richard Doherty , director of consulting firm Envisioneering Group in Seaford, New York, said today he expects the updated iPad to offer longer battery life and front- and rear-facing cameras.
Apple is boosting its sales force to focus on burgeoning demand from business customers, particularly for the iPhone and iPad, Chief Operating Officer Tim Cook told a shareholders' meeting today.
"We've never seen anything like this before," Cook said.
Apple, based in Cupertino, California, rose $4.01 to $342.62 at 4 p.m. New York time in Nasdaq Stock Market trading. The shares have gained 6.2 percent this year.
Brent oil hits $113 on Libya unrest; Asian stocks off lows(business)
Unrest in Libya and the threat of contagion to other oil producing countries in the region drove Brent crude to USD 113 a barrel on Thursday, but the selloff in Asian stocks eased as investors started to nibble at beaten-down shares.
Copper also bounced off one-month lows, although the dollar stayed on the back foot as some investors worry that the US economy would be vulnerable to high oil prices, given its reliance on consumer spending to drive growth.
London Brent crude rose as high as USD 113 a barrel for the first time since September 2008, having gained nearly 10% in the past four sessions. US crude last traded at around USD 99.38 a barrel, a whisker away from Wednesday's high of USD 100.
Worries that higher energy prices will crimp corporate profits had sparked a steep selloff in Asian stocks in the past two sessions, but that looked to be losing its punch.
Japan's Nikkei 225 index, while still 0.4% lower on the day, was off its lows and stocks elsewhere in Asia erased early losses to be up 0.4%.
"As Japanese stocks have tumbled for the past two sessions (losing 2.6%), today's losses may not be sharp," said Masumi Yamamoto, a market analyst at Daiwa Securities Capital Markets.
Hong Kong's Hang Seng put on 0.2% and China's Shanghai Composite Index edged up 0.2%. Gains in US stock futures suggest a steadier start on Wall Street after two sessions of declines.
Gold , a traditional safe haven in times of trouble, traded at around USD 1,412 an ounce, not far from a record high around USD 1,430 set in December.
Copper gained 1.1% to USD 9,526 a tonne, climbing off a one-month low of USD 9,365.
The dollar index, which tracks its performance against a basket of major currencies, shed 0.3% to 77.173.
Against the Swiss franc, the dollar fell to a record low at around 0.9277 franc , surpassing the previous trough of 0.9301 set at the end of the year.
The euro held firm at USD 1.3776 , coming within easy reach of its February 2 peak of USD 1.3862, helped also by recent hawkish comments on inflation by European Central Bank officials, which raised expectations the ECB will hike interest rates before the Federal Reserve.
"There may be a realisation that if oil prices rise sharply, that would hit all the developed countries and in that sense it effects every major currency the same," said Tsutomu Soma, manager of foreign bonds at Okasan Securities.
"And if the impact from the Middle East crisis is roughly equal on each currency, you could argue that currencies with a yield advantage will benefit at the end of the day," Soma said.
The New Zealand dollar continued to struggle at two-month lows below USD 0.7500, with markets now pricing in an 88% chance that the next rate move will be a 25 basis point cut .
The move followed the deadly earthquake that hit the country's second biggest city of Christchurch on Tuesday.
Copper also bounced off one-month lows, although the dollar stayed on the back foot as some investors worry that the US economy would be vulnerable to high oil prices, given its reliance on consumer spending to drive growth.
London Brent crude rose as high as USD 113 a barrel for the first time since September 2008, having gained nearly 10% in the past four sessions. US crude last traded at around USD 99.38 a barrel, a whisker away from Wednesday's high of USD 100.
Worries that higher energy prices will crimp corporate profits had sparked a steep selloff in Asian stocks in the past two sessions, but that looked to be losing its punch.
Japan's Nikkei 225 index, while still 0.4% lower on the day, was off its lows and stocks elsewhere in Asia erased early losses to be up 0.4%.
"As Japanese stocks have tumbled for the past two sessions (losing 2.6%), today's losses may not be sharp," said Masumi Yamamoto, a market analyst at Daiwa Securities Capital Markets.
Hong Kong's Hang Seng put on 0.2% and China's Shanghai Composite Index edged up 0.2%. Gains in US stock futures suggest a steadier start on Wall Street after two sessions of declines.
Gold , a traditional safe haven in times of trouble, traded at around USD 1,412 an ounce, not far from a record high around USD 1,430 set in December.
Copper gained 1.1% to USD 9,526 a tonne, climbing off a one-month low of USD 9,365.
The dollar index, which tracks its performance against a basket of major currencies, shed 0.3% to 77.173.
Against the Swiss franc, the dollar fell to a record low at around 0.9277 franc , surpassing the previous trough of 0.9301 set at the end of the year.
The euro held firm at USD 1.3776 , coming within easy reach of its February 2 peak of USD 1.3862, helped also by recent hawkish comments on inflation by European Central Bank officials, which raised expectations the ECB will hike interest rates before the Federal Reserve.
"There may be a realisation that if oil prices rise sharply, that would hit all the developed countries and in that sense it effects every major currency the same," said Tsutomu Soma, manager of foreign bonds at Okasan Securities.
"And if the impact from the Middle East crisis is roughly equal on each currency, you could argue that currencies with a yield advantage will benefit at the end of the day," Soma said.
The New Zealand dollar continued to struggle at two-month lows below USD 0.7500, with markets now pricing in an 88% chance that the next rate move will be a 25 basis point cut .
The move followed the deadly earthquake that hit the country's second biggest city of Christchurch on Tuesday.
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