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Egypt inflation hits 23.1 percent; state salaries upped
CAIRO, August 10, 2008 (AFP) – Inflation soared to a record 23.1 percent in Egypt in July, fuelled by skyrocketing food prices, the CAPMAS national statistics agency reported on Sunday. The dramatic rise in the national consumer price index — the highest jump in 16 years — was mainly due to an increase of 32.5 […]
Australian dollar falls to seven-month low
SYDNEY, August 11, 2008 (AFP) – The plunging Australian dollar hit a new seven-month low on Monday as a fall in key commodity prices put the currency under pressure, ending months of highs. The currency opened at 88.49 US cents, down from 89.29 US cents on Friday and its weakest start since January 25. The […]
Debut author, 93, creates real life dream with royalties
LONDON, August 11, 2008 (AFP) – A 93-year-old debut novelist has used the proceeds from her book to move her friends out of nursing homes and into her new country house, she said in British newspaper reports on Monday. When Lorna Page hit the jackpot with “A Dangerous Weakness”, a raunchy thriller set in the […]
Sri Lanka clinch India series with crushing win
COLOMBO, August 11, 2008 (AFP) – Sri Lanka survived early blows to clinch the series against an injury-ridden India with a comfortable eight-wicket victory on the penultimate day of the third and final Test here on Monday. The hosts lost Michael Vandort and Kumar Sangakkara in the opening seven overs before reaching a 122-run target […]
India celebrates first solo Olympic gold
NEW DELHI, August 11, 2008 (AFP) – India’s first ever individual Olympic gold medal win was greeted at home with disbelief and joy — as well as renewed hope the country could break with its total obsession with cricket. Abhinav Bindra, a 25-year-old businessman, was lavished with praise after taking gold in the men’s 10m […]
Sri Lanka president seeks funding from China Exim Bank
Aug 11, 2008 (LBO) – Sri Lanka’s president Mahinda Rajapaksa has discussed further funding from China’s Export Import Bank to expand a coal power plant, a highway and a bunkering project, the foreign ministry said. China is building a port in the southern Sri Lankan town of Hambantota, which is President Rajapaksa’s home constituency. President […]
‘s Law comes alive in Sri Lanka amid high inflation
Aug 11, 2008 (LBO) – Sri Lanka is melting its coinage and minting less valuable coins amidst booming commodity prices and rising inflation at home, continuing a tradition of monetary debasement that dates back to ancient monarchies. By collecting the Nickel/brass and Cupro/Nickel coins in circulation and shipping them to the minter for melting and […]
Sri Lanka makes new push into Tiger territory: military
August 10, 2008 (AFP) – Sri Lankan troops launched a fresh advance into territory held by Tamil rebels Sunday, killing 15 guerrillas while another 27 combatants were killed in other clashes, the defence ministry said.The latest push was in the Jaffna peninsula, parts of which are held by the rebel Liberation Tigers of Tamil Eelam […]
Western concern over oil and gas pipelines through Georgia
LONDON, August 10, 2008 (AFP) – Western concerns are growing over the impact of bloody clashes between Georgia and Russia on a key oil pipeline through the region from the Caspian Sea to the West, analysts say.While Georgia does not produce oil itself, US and European energy firms have counted on the pro-Western country — […]
Italian contraction sets eurozone alarm bells ringing
MILAN, August 10, 2008 (AFP) – The Italian economy contracted in the second quarter, official data showed, adding to a deepening sense of gloom about the eurozone economy amid a flurry of bad news for the 15-nation bloc.Italy is the first eurozone country to reveal figures for the second quarter and a 0.3-percent quarter-on-quarter contraction […]