Category: Other
ECB to hold rates steady as euro rocks near record high
VIENNA, Oct 4, 2007 (AFP) – The European Central Bank was set to hold interest rates steady Thursday amid concern that the euro’s strength and a slowing economy were stirring up stiff headwinds for the 13-nation eurozone.The Bank of England was expected to leave its main lending rate unchanged as well, at 5.75 percent after […]
Dollar-pegged oil exporters mull break as inflation goes out of control
KUWAIT CITY, Oct 1, 2007 (AFP) – The US interest rates cut has revived a fierce debate on whether the oil-rich Gulf Arab states should keep their currencies pegged to the dollar and bear the crunch of high inflation. The six-nation Gulf Cooperation Council (GCC) states are experiencing high growth rates of between four to […]
Deutsche Bank reports 2.2-bn euro hit from subprime crisis
FRANKFURT, Oct 3, 2007 (AFP) – Deutsche Bank, Germany’s biggest lender, said Wednesday it would take charges of roughly 2.2 billion euros (3.1 billion dollars) to cover losses connected with the US home-loan crisis.Many major banks have decided to make clear their losses from the global banking crisis as quickly as possible to try to […]
Maldives raises fuel prices
October 03, 2007 (LBO) — Maldives on Wednesday raised fuel prices to keep pace with galloping world crude prices, the State Trading Organisation said.Prices of diesel go up 0.35 cents to Maldive Rufiyaa 8.65 (0.68 US cents), while kerosene costs 0.25 cents more or Maldive Rufiyaa 9.30 (0.74 US cents), the statement said. In comparison […]
No Atappattu for Sri Lanka tour of Australia: chief selector
Oct 03, 2007 (Vimasuma.com) Former Sri Lanka captain and opener Marvan Attapattu would not be included in a forthcoming tour of Australia, chief selector Ashantha de Mel said. “We were informed at about 5.00 pm by fax that Marvan would not attend a meeting with cricket officials,” de Mel told Vimasuma.com “It is not possible […]
Sri Lanka Tea Board to monitor export quality closely
Oct 02, 2007 (LBO) – The Sri Lanka Tea Board plans to set up a tea testing laboratory to make sure that chemical residues and impurities do not get into exports, Tea Board chairman Lalith Hettiarachchi said. . The lab will in future handle all the testing done by the Board some of which is […]
Stiff Penalties
KUWAIT CITY, Oct 2, 2007 (AFP) – An Islamist lawmaker in Kuwait called for the interior ministry on Tuesday to draw up a blacklist of employers who mistreat their domestic helpers and urged stiff penalties for physical abuse.MP Waleed al-Tabtabai said in a statement that employers who abuse their maids “physically or morally” should be […]
‘s wife to be auctioned
LONDON, Oct 1, 2007 (AFP) – Jewels that once previously belonged to Anita Delgado, a Spanish dancer who became the fifth wife of a wealthy Indian maharaja, are to be auctioned in London, auction house Christie’s said Monday. The eight pieces of jewellery, described by Christie’s as consisting predominantly of art deco pieces, will be […]
Indonesia issues tsunami alert after quake
JAKARTA, Oct 2, 2007 (AFP) – Indonesia issued a tsunami warning to coastal areas along its west Sumatra island Tuesday after a 6.4-magnitude quake struck offshore, the meteorology office said. . .
Soaring euro, slowing economy dampen odds of eurozone rate hike
FRANKFURT, Oct 2, 2007 (AFP) – The European Central Bank is keeping an eye on inflation but the chances it will raise its base lending rate Thursday are nil owing to the soaring euro and signs the eurozone economy is slowing down.In Britain, the Bank of England was also expected to hold rates steady, two […]
Lonely Planet founders say BBC sale offers chance to move on
SYDNEY, Oct 2, 2007 (AFP) – The founders of Lonely Planet guidebooks said Tuesday that they decided to sell the “backpackers’ Bible” to BBC Worldwide because they wanted to “move on” and have more time for travel.Tony and Maureen Wheeler founded the hugely successful publishing business 34 years ago when they compiled a list of […]
Yearly inflation in OECD area falls to 1.8 percent in September
PARIS, Oct 2, 2007 (AFP) – Annual inflation in the 30 industrialised members of the OECD fell to 1.8 percent in the year to August from 2.0 percent in July 2006, the Organisation for Economic Cooperation and Development said Tuesday.In Japan, prices were down by 0.2 percent in August compared with a year earlier after […]