Category: Other
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PARIS, Dec 12, 2006 (AFP) – For the companies and individuals inhabiting the web’s ever-evolving ecosystem, three big revolutions have taken place almost unnoticed by outside observers. The first, they argue, was the initial phase — or what they call “Web 1.0” — when corporations like the BBC, Disney and established newspapers set up virtual […]
Asian financial markets face greater volatility in 2007: S and P
SINGAPORE, Dec 12, 2006 (AFP) – Asia-Pacific financial markets will remain generally strong but face greater volatility and higher risks in 2007, Standard and Poor’s said Tuesday. The US-based credit watchdog said in a statement that the regional economic outlook remained positive despite an expected US slowdown next year. But higher financing costs, increased corporate […]
Finlays Sri Lanka plantation hands over management to private company
Dec 12 (LBO) – Sri Lankan regional plantations company Udapussellawa Plantations is to hand over management of two estates to a newly incorporated private company for a 38-year period, an official said Tuesday. “These estates need a lot of investment into the field operations as well as factories and with the current structure and wages going […]
‘s inflation rate rises to nearly 1,099 percent
HARARE, Dec 11, 2006 (AFP) – Zimbabwe’s inflation spiral rose to 1,098.8 percent last month, up 28.6 percentage points from October, the Central Statistical office said Monday.Last month, Finance Minister Herbert Murerwa predicted a marginal economic growth in the coming year, adding that inflation would dip to 350 percent as he presented the budget for […]
US economic team to pressure China on exchange rates, intellectual property
WASHINGTON, Dec 10, 2006 (AFP) – A stellar cast of US economic leaders heads to China this week to press for the world’s manufacturing workshop to overhaul the desperately one-sided trade between the two nations.Treasury Secretary Henry Paulson and Federal Reserve chairman Ben Bernanke will head the US delegation for the inaugural meeting of a […]
Bangladeshi workers exploited to stock British discount chains: report
LONDON, Dec 8, 2006 (AFP) – Garment workers in Bangladesh are working 80 hours a week for just five pence (seven euro cents, nine cents) an hour to produce cheap clothes for British consumers, a report claimed Friday. Anti-poverty charity War on Want said the employees were also having to endure poor working conditions to […]
Sri Lanka scales down tea production forecasts as trade union strikes continue
December 07, 2006 (LBO) – Sri Lanka is unlikely to reach last year’s tea production record, as trade unions strikes on estates since November over a wage hike, shows no signs of slowing. December production is likely to reach about 21 million kilos over the usual 25 million kilos. “The outlook for January too is not […]
Five years on, copyright theft remains a Chinese trademark
BEIJING, Dec 7, 2006 (AFP) – When Shanghai police broke up a counterfeit pharmaceuticals ring that produced fake Tamiflu in August, it seemed a blow had been struck against China’s notorious intellectual property thieves.Tamiflu, produced by Roche, is one of the few treatments deemed effective against bird flu, and the seizure of 400 kilograms of […]
Airbus to hike investment in India to one billion dollars
NEW DELHI, Dec 7, 2006 (AFP) – Europe’s Airbus said Thursday it would hike investment in India to at least one billion dollars as it forecast the country would need 1,100 new planes over 20 years to meet soaring travel demand. The aircraft maker had pledged to plow back 500 million to 600 million dollars […]
Political parties, parliaments most corrupt: graft poll
BRUSSELS, Dec 7, 2006 (AFP) – Political parties and parliaments are seen as the world’s most corrupt institutions and governments are not doing enough to combat the problem, a poll by a respected global graft watchdog said Thursday. The Transparency International survey, of some 60,000 people in 62 countries, found that many ordinary citizens thought […]
World economy on track for strong 2007
PARIS, Dec 6, 2006 (AFP) – Slowing activity in the US economy and a possible sudden cooling of overheated property markets are the main threats to the world economy in 2007 after vigorous recovery this year. The International Monetary Fund said Tuesday it was lowering its growth estimate for next year from its current prediction […]
‘s richest two percent own half global wealth: UN
HELSINKI, Dec 5, 2006 (AFP) – The world’s richest two percent of adults own more than half of global household wealth, while half the world’s population own only one percent, a UN report published on Tuesday showed. “The study finds wealth to be more unequally distributed than income across countries,” Anthony Shorrocks, director of the […]