Category: Other
G7 calls for vigilance on hedge funds
ESSEN, Germany, Feb 10, 2007 (AFP) – Group of Seven (G7) finance ministers and central bank chiefs called Saturday for “vigilance” on hedge funds, a trillion-dollar industry that has grown strongly and rapidly in recent years. “Given the strong growth of the hedge fund industry and the instruments they trade, we need to be vigilant,” […]
China catching up with India in call centre services
BEIJING, Feb 9, 2007 (AFP) – China is catching up with India in providing call centre services, one of the fastest-growing areas of global outsourcing, Chinese state media and a research firm said Friday. The number of employees at call centres in China is likely to rise 22 percent in 2007 to 158,000, while in […]
More Bangladesh politicians arrested for graft
DHAKA, Feb 9, 2007 (AFP) – Two more Bangladeshi politicians including a former minister have been detained as part of the interim government’s anti-corruption drive, officials said Friday.The arrests bring the number detained to 25, ten of whom are former ministers. The detainees have links to both the main political parties. Outgoing junior energy minister […]
Sri Lanka wants grow oil-bearing jatropha plants for bio-diesel
Feb 08, 2007 (LBO) – Sri Lanka is studying the feasibility of growing a new oil-bearing plant in marginal state land to make bio-diesel with private sector partners, an official said.Countries such as the United States have given tax-breaks for alternative fuels, and blended bio-diesel such as B5 with 5 percent vegetable based diesel is already […]
Asia drives patent growth trend in 2006: WIPO
GENEVA, Feb 7, 2007 (AFP) – Chinese international patent applications more than doubled in 2006, reflecting a “changing geography of demand” along with other Asian countries such as Japan and South Korea, the World Intellectual Property Organisation said on Wednesday.China filed 3,910 patents under the aegis of WIPO’s Patent Cooperation Treaty (PCT) in 2006, up […]
Ex-child soldier cry for freedom at UNICEF conference
PARIS, Feb 5, 2007 (AFP) – A former child soldier from Sierra Leone who started killing at the age of 12 opened an international conference on Monday with an appeal for action to stop the exploitation of children in war.“At that time, taking a gun and shooting somebody had become as easy as drinking a […]
Yen weakness to top agenda at G7 finance summit
FRANKFURT, Feb 4, 2007 (AFP) – The current weakness of the Japanese yen is likely to top the agenda when finance ministers and central bank chiefs from the Group of Seven (G7) countries gather in the western city of Essen next weekend. But if European governments entertained any hope the club of the world’s seven […]
Sri Lanka tea trade under pressure in first quarter, after record earnings in 2006
February 03 (LBO) – Sri Lanka’s tea crop is set to drop in January after record earnings in the past year, as unfavourable weather slowed a recovery of strike-hit estates, industry officials said. “Estates which normally send had 8,000 to 10,000 kilograms to the auctions, are sending about 2,500 kilograms,” says Lal Alawattegama, of Asia Siyaka […]
‘s biggest mutual fund: report
BEIJING, Feb 2, 2007 (AFP) – China plans a special firm to manage one fifth of its forex reserves, laying the foundations of a behemoth that will handle more money than the biggest mutual fund in the world, state media said Friday.The State Foreign Exchange Investment Company is expected to be in charge of 210 […]
Credit Clamp
January 31 (LBO) – The Securities and Exchange Commission has clamped down on brokers who finance customers by giving them extra time to settle, because the practice is undermining the finances of the intermediaries, an official said. No single client (a company, a group of companies or immediate family members) can be given more than […]
Zimbabwe central bank to limit money printing to curb inflation, calls for fiscal restraint
HARARE, Jan 31, 2007 (AFP) – Zimbabwe’s Reserve Bank governor Gideon Gono on Wednesday unveiled a battery of belt-tightening measures including slashed money supply to put the brakes on four-digit inflation.Gono however did not devalue the local currency, saying it was no panacea. “The urgency of the need to reduce inflation impels that 2007 be […]
Coal industry urged to meet tougher environmental standards
SINGAPORE, Jan 30, 2007 (AFP) – The world’s coal industry needs to sharpen up its act in order to meet tougher environmental standards amid increasing global concern over rising greenhouse gas emissions, experts said Tuesday.Mulyono added it was “unavoidable” for Indonesia, a major coal producer and exporter, to market low-grade coal because of domestic and […]