Category: Other
India fires free trade salvo ahead of peace talks with Pakistan
NEW DELHI, Nov 7, 2006 (AFP) – India’s foreign minister Tuesday accused regional adversary Pakistan of placing hurdles in the way of a fledgling South Asian Free Trade Agreement (SAFTA).Foreign Minister Pranab Mukherjee warned that a regional free trade agreement reached in January 2004 and implemented earlier this year could collapse if Islamabad failed to […]
Zimbabwe economy mars Africa resurgence: IMF
PRETORIA, Nov 6, 2006 (AFP) – Senior International Monetary Fund (IMF) officials Monday said inflation-ravaged Zimbabwe was a dark spot in sub-Saharan Africa, which is otherwise set for higher economic growth next year.“The situation is very bad in Zimbabwe.Inflation is higher than 1,000 percent,” Abdoulaye Bio-Tchane, the director of IMF’s Africa department, said in Pretoria. […]
Sore Eyes
BERLIN, Nov 6, 2006 (AFP) – Haiti, Myanmar and Iraq are perceived as the most corrupt countries in the world while Finland is seen as the cleanest, a respected global graft watchdog reported Monday.Transparency International (TI) said in its annual Corruption Perceptions Index covering 163 countries that some of the world’s poorest nations were also […]
‘s 150th member
HANOI, Nov 6, 2006 (AFP) – Vietnam is set to become the 150th member of the World Trade Organisation (WTO) Tuesday after 20 years of market reforms that have made the communist ruled country one of Asia’s fastest growing economies.Hanoi hopes admission to the Geneva based club will further boost trade and investment for the […]
Tokyo Stock Exchange boosts capacity again
TOKYO, Nov 6, 2006 (AFP) – The Tokyo Stock Exchange said Monday it had raised its order handling capacity to 14 million per day from 12 million as part of an upgrade following a series of technical problems.Asia’s largest bourse came under heavy criticism after it closed early for the first time ever in January […]
Quiet Settlement
Nov 03 (LBO) – Sri Lanka’s securities watchdog settled a case against Mr. Sajee Lakshman Perera, relating to share trading of Ceylon Grain Elevators (CGE). The accused was charged with creating a false or misleading impression relating to the market and price of CGE shares and misleading the SEC in its investigations, the Securities and […]
‘s Reliance launches giant retail rollout
HYDERABAD, India, Nov 3, 2006 (AFP) – Indian corporate giant Reliance Industries began a multi-billion dollar superstore rollout Friday with promises to the nation’s small traders that it would not drive them out of business.The 11 slick, air-conditioned stores which opened in this southern city are a novelty in the country of 1.1 billion people, […]
‘s Tiger Airways eyes six new South Asian routes in 2007: report
SINGAPORE, Nov 2, 2006 (AFP) – Singapore’s Tiger Airways has applied to India and Sri Lanka to fly to six destinations as part of a bid to ramp up its South Asian network, its chief executive said in remarks published Thursday. The Singapore-based budget carrier hopes to get the nod to fly next year to […]
Estate worker unions expect quick close to wage talks; tea production hits new highs
Nov 02 (LBO) – Sri Lanka posted record tea production in September, as estate worker trade unions thrash out a wage increase for over 250,000 plantation workers. Wage Talks Meanwhile, estate worker trade unions say they expect a quick closure in wage talks, with union officials downplaying strike action on some estates in Hatton over the […]
Euro bills in Germany mysteriously disintegrating: report
BERLIN, Nov 2, 2006 (AFP) – Euro bills in Germany have begun mysteriously disintegrating, leading police to suspect a prank using sulfuric acid, the top-selling daily Bild reported Thursday.The state crime offices in Berlin and the southwestern state of Rhineland-Palatinate have opened investigations after a number of bills began self-destructing across the country. The first […]
Bordeaux winemakers downplay impact of rise in fakes
BORDEAUX, France, Nov 1, 2006 (AFP) – Winemakers in France’s prime Bordeaux wine region have shrugged off warnings by experts over a rise in counterfeiting of top wines potentially worth millions of euros (dollars).While most top chateaux in Bordeaux, in France’s southwest, have introduced measures to protect their wines against the fakes, they insist the […]
Egypt trembles as cheap Chinese pharaohs rule the souk
CAIRO, Nov 1, 2006 (AFP) – Figurines of King Tut, Ramses and Queen Nefertiti in Cairo’s famous Khan Khalili bazaar all bear the hallmarks of pharaonic regalia, from the goat-hair beards to the golden sceptre. But the slanting eyes framed by the ancient Egypian rulers’ trademark kohl lining betrays the statuettes’ Chinese origins. While Egypt […]