Category: Other
US bank Wachovia scorched with US$8.7bn loss
NEW YORK, July 22, 2008 (AFP) – Banking giant Wachovia took a hit from the US housing slump with a quarterly loss announced Tuesday of 8.662 billion dollars but its shares surged as it unveiled job cut and other steps to shore up its finances. The loss amounted to 4.20 dollars per share, far above […]
Australian inflation rises to 4.5 percent
SYDNEY, July 23, 2008 (AFP) – Australia’s annual inflation rate jumped to 4.5 percent in June, official data showed Wednesday, as Treasurer Wayne Swan warned of the toughest economic conditions in 25 years. The increase from 4.2 percent over the year to March had taken inflation to its highest level since late 1995, excluding a […]
India will not give ground in industrial field: Nath
GENEVA, July 23, 2008 (AFP) – India hinted on Wednesday that it is prepared to see WTO talks founder if rich countries do not take big strides towards developing countries on industrial issues.Indian Commerce Minister Kamal Nath warned that talks on a global trade deal at the World Trade Organization could founder if developed nations […]
Vaccine kick-starts immune response to cancer
July 21, 2008 (AFP) – Researchers have developed a plant-based cancer vaccine capable of kick-starting the body’s immune response and being tailored to a patient’s specific tumor type, according to a study released Monday.While they have not yet determined whether the immune response is sufficient to destroy the cancer, the researchers are hopeful that the […]
European shares get boost from Bank of America earnings
LONDON, July 21, 2008 (AFP) – European stock exchanges forged ahead Monday, powered by news of second-quarter profit at Bank of America that reassured investors about the health of the US financial sector.In London the FTSE 100 index gained 0.52 percent to close at 5,404.30 points, while in Paris the CAC 40 rose 0.65 percent […]
‘s carbon sink: study
CHICAGO, July 21, 2008 (AFP) – Nutrients carried by the Amazon River help create a carbon sink deep in the Atlantic Ocean, a study released Monday has found.The key ingredients transported by the river are iron and phosphorus. These elements are all that an organism called a diazotroph needs to capture nitrogen and carbon from […]
Indian opposition demand PM resign over bribe allegations
NEW DELHI, July 22, 2008 (AFP) – India’s main opposition party on Tuesday demanded the resignation of Prime Minister Manmohan Singh over allegations the government was bribing lawmakers to survive a vote of confidence in parliament. The demand came as a crucial debate descended into chaos when opposition MPs started waving around large bundles of […]
Emerging markets want industrialised nations to make first move
GENEVA, July 22, 2008 (AFP) – Emerging economies challenged rich countries to prove their goodwill on Tuesday at crucial World Trade Organization talks, which were hamstrung by the absence of the Indian trade minister.Ministers from about 35 key nations are meeting in Geneva this week to break seven-year deadlock over a new global trade deal. […]
Indian government survives confidence vote: state TV
NEW DELHI, July 22, 2008 (AFP) – India’s government on Tuesday survived a parliamentary confidence vote that could have led to early polls and scuppered a nuclear energy deal with the United States, state television showed.A total of 253 deputies backed the government, 232 voted against and two abstained, according to results from electronic voting […]
Sri Lanka summit to consider trade, food security moves
July 22, 2008 (LBO) – South Asian leaders holding a summit in the Sri Lankan capital Colombo next months will consider setting up common standards for goods made in the region as well as a food crisis fund and buffer stocks, a senior official said. Foreign Affairs Minister Rohitha Bogollagama said south Asian leaders are […]
Economy top concern for voters as White House race heats up
WASHINGTON, July 21, 2008 (AFP) – The sputtering economy has asserted itself as the main concern for US voters less than four months ahead of presidential elections, and with an avalanche of alarming new data it appears unlikely that will change. While crude oil prices fell more than 16 dollars per barrel in the past […]
India govt hunts for support ahead of no confidence vote
NEW DELHI, July 21, 2008 (AFP) – The Indian government was scouring for support Monday, trying to shore up its position a day before a no-confidence vote in parliament triggered by a controversial nuclear deal with Washington. The government will collapse and early elections will be called if the coalition of Prime Minister Manmohan Singh […]