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POSCO reports higher profit on strong steel prices
Seoul: POSCO, the world's fifth-biggest steel maker, has reported 38 per cent higher second-quarter profit buoyed by strong prices for steel.

Posco's income stood at Won1.26 trillion ($1.19bn) in the three
months ended June 30, up from 914.5bn won ($867.2m) a year earlier.

The result came in below analysts' estimates. Net profit was expected to have risen 46 per cent from a year ago to Won1.33 trillion ($1.26bn), according to the average estimates of eight analysts.

Sales during the quarter rose 13 per cent to Won5.38 trillion ($5.1bn) fromWon 4.75 trillion ($4.5bn) a year earlier.
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G-20 urges resolution of trade issues
Dalian: The G-20 has urged developed countries to dismantle
restrictive non-tariff trade barriers erected against developing
nations. The group wants a successful conclusion to the Doha
Development Round to by 2006.

G-20 members say developed countries maintain the greatest distortions in agriculture where developing countries enjoy sizable comparative advantages. The group says meaningful results in agriculture are essential to lead the Doha Development Round to a successful conclusion by 2006.
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