Category: Other
Dollar slips against euro amidst fresh printing fears
NEW YORK, March 4, 2008 (AFP) – The dollar slipped against the euro Tuesday in the face of fresh inflation fears in the eurozone and a call by the US Federal Reserve chief for tough action to stem US mortgage foreclosures.The single European currency was at 1.5210 dollars around 2200 GMT, up from 1.5203 late […]
Clinton wins Ohio as McCain claims Republican mantle
COLUMBUS, Ohio, March 4, 2008 (AFP) – Democrat Hillary Clinton vowed to fight all the way to the White House after she checked rival Barack Obama’s momentum in Ohio, while Senator John McCain captured the Republican mantle Tuesday. US networks projected the former first lady would take the economically scarred state of Ohio, but said […]
Philippine inflation at 5.4 percent in February
MANILA, March 5, 2008 (AFP) – Inflation in the Philippines rose to 5.4 percent in February, its highest level since October 2006, the government said Wednesday. The figure was a sharp increase on the 2.6 percent posted for the same period last year and up on the January inflation rate of 4.9 percent. Core inflation, […]
France to extend Champagne-growing area
REIMS, France, March 2, 2008 (AFP) – As champagne sales pop all-time record highs and demand outstrips supply, France’s wine-making czars are to issue an historic ruling to extend the champagne-growing area, a move that will pour new wealth into 40 small rural villages. Like other French wines, Champagne-labelled bottles are produced only from grapes […]
Japanese shares plunge 4.0 percent, Yen up; US bond insurer woes renew
TOKYO, March 3, 2008 (AFP) – Japanese share prices tumbled 4.0 percent in morning trade on Monday, battered by a stronger yen and mounting worries about the health of the US economy, dealers said.The benchmark Nikkei-225 index was down 545.93 points or 4.01 percent at 13,057.09 by lunch, while the broader Topix index of all […]
Indian Collapse
March 3, 2008 (LBO) – India is deploying crack sleuths to track down the operators of a Goldquest-Questnet scheme in the Karnataka state after thousands of victims complained to the police, media reports said. “Initial investigations into the fraud committed by Quest-Net India Limited has revealed the firm had duped people to the tune of […]
Sri Lanka tea growers set for party as prices soar
March 3, 2008 (AFP) – The tea industry in Sri Lanka, the world’s second biggest exporter of the crop, is looking forward to good times again as prices soar on a global commodities boom.And the rise for a cup of tea comes as the prices of other traditional brews such as cocoa and coffee have […]
ECB to cut growth forecasts; keep rates steady
FRANKFURT, March 2, 2008 (AFP) – The European Central Bank will make a cut of sorts this week — but with eurozone inflation stubbornly high the cut will be to its growth forecasts, not interest rates. “The ECB council will cut on Thursday its forecasts for growth in the euro zone, but not its main […]
Populist India budget unlikely to give election boost: analysts
NEW DELHI, March 2, 2008 (AFP) – A populist budget unveiled by India’s ruling Congress party forgiving loans for poor farmers and cutting income taxes is unlikely to help its re-election chances in looming polls, analysts say.“People say Uttar Pradesh is just a glimpse of what’s going to unfold at the national level,” declared Mayawati […]
Pottu Test
Mar 01, 2008 (LBO) – A Sri Lankan Supreme Court judge said society discriminates against its members despite pledging allegiance to a human rights charter, and called for equal treatment for marginalized sections. “If you take a simple issue of race, it is the duty of the majority of the Sinhalese to reach out to […]
Dollar sinks to fresh low versus euro after Bernanke comments
NEW YORK, Feb 28, 2008 (AFP) – The dollar plunged to a fresh record low against the euro Thursday amid more glum US economic news and downbeat comments on the outlook from Federal Reserve chairman Ben Bernanke.In late New York trade, the dollar stood at 105.30 yen from 106.45 Wednesday and 1.0512 Swiss francs after […]
Oil prices near records in Asia amid dollar weakness
SINGAPORE, Feb 29, 2008 (AFP) – World oil prices continued higher Friday, trading around fresh record levels as speculators piled into the market on the back of a sharp decline in the US dollar after a weak report on US economic growth, dealers said.In morning trade, New York’s main contract, light sweet crude for delivery […]