Category: Other
Chaos as Zimbabwe switches to new currency
HARARE, Aug 22, 2006 (AFP) – Zimbabweans struggled to offload soon-to-be worthless cash on Monday as chaos and confusion prevailed ahead of a midnight deadline to convert to a new currency aimed at combating galloping inflation.Banks extended their working hours to cater to crowds who came to dispose of their old notes while others went […]
India takes Coca-Cola to court alleging high pesticide levels
BANGALORE, India, Aug 19 (AFP) – India’s southern state of Karnataka has filed a case against US soft drinks giant Coca-Cola, accusing it of selling products with unacceptably high pesticide levels, a minister said Saturday.The case was filed August 12 after state health department-supervised laboratory tests showed excessive amounts of pesticide in Coca-Cola product samples, […]
Crude oil slumps, dragging most commodities lower
LONDON, Aug 18, 2006 (AFP) – Crude futures plunged this week, in line with many commodity prices, amid evidence of an economic slowdown in the United States and a lowering of tensions in the Middle East, analysts said. But nickel prices hit a fresh historic record on keen demand, while coffee soared on concerns over […]
‘s answer to Wal-Mart
NEW DELHI, Aug 18, 2006 (AFP) – India’s biggest private company Reliance Industries said Friday it aims to launch its first store next month as part of a plan to build an Indian version of Wal-Mart, the world’s largest retail chain. Reliance, whose main business is oil and petrochemicals, has said it plans to invest […]
Japan ups tea imports from Sri Lanka
August 16 (LBO) – Japan has upped its purchase of black tea from Sri Lanka in recent months, as quality of local tea improves and exporters comply with tougher standards. Exports to Japan were up 32.28 percent to as at end April this year to 3558 kilos of black tea, just behind China as top tea […]
Fate of ancient brothel hangs in the balance in China
BEIJING, Aug 17 (AFP) – A city in central China is agonizing over whether it should preserve an ancient building that once housed a brothel in case it is seen as promoting prostitution, state media said Thursday. The problem is that if the authorities at Jinggang in Hunan province decide not to save the structure, […]
Japan proposes 16-nation Asian trade bloc: officials
KUALA LUMPUR, Aug 17 (AFP) – Japanese officials on Thursday proposed a sprawling 16-nation free-trade grouping with China, South Korea, Australia, India, New Zealand and the 10-nation Southeast Asian bloc, officials said. The 16 last year formed the East Asia Summit — seen as a precursor of a giant free-trade community embracing half the world’s […]
Tea exporter in Sri Lanka to get incentive fees for value addition
August 16 (LBO) – Sri Lankan tea exporters can tap into about 30 million rupees in cess funds being given this year as an incentive for value added exports of Ceylon tea.Exporters can submit claims based on volumes exported, proof of value addition under Sri Lankan brand labels, provided pack sizes are under three kilos, […]
Maldives frees democrazy activist
Aug 16 (AFP) – The Maldives said Wednesday it had freed a leading opposition figure as part of efforts to move the island nation towards multi-party democracy. Jennifer Latheef, who was jailed for 10 years on terror charges linked to a 2003 pro-democracy riot, was pardoned and released, the Maldivian government said in a statement. […]
Oil steady on easing Middle East concerns
SINGAPORE, Aug 16 (AFP) – Crude prices were steady in Asian hours Wednesday as traders breathed easier over the Middle East after the UN ceasefire in Lebanon took effect, dealers said. British energy giant BP’s announcement Friday that it would keep pumping oil from its Prudhoe Bay field in Alaska was also a relief for […]
Poverty and conflict in South Asia breeding ground for AIDS: Experts
TORONTO, Canada, Aug 15, 2006 (AFP) – South Asia’s AIDS epidemic could smash through vulnerable populations unless India and its neighbours take the battle into high-risk areas, including the sex industry, the World Bank warned Monday.The report, issued at the world’s biggest-ever AIDS meeting, painted a picture of an HIV time bomb that ticked in […]
Indian chosen to head Pepsico
NEW YORK, Aug 14, 2006 (AFP) – Global beverages giant PepsiCo Monday named Indra Nooyi as its new chief executive, capping a rapid rise to the highest ranks of corporate America for the Indian-born woman. Nooyi, 50, will succeed the 58-year-old Steve Reinemund on October 1st, although Reinemund will keep working for the company until […]