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IndyMac bank seized by US amid intensifying crisis
LOS ANGELES, July 12, 2008 (AFP) – Federally-seized IndyMac Bank was due to reopen Monday after suffering one of the biggest bank closures in US history, as the troubled US mortgage industry struggles to stem further meltdown.The regulatory Office of Thrift Supervision (OTS) announced Friday it had placed the California-based bank, worth an estimated 32 […]
Cambodian garment workers worry about future prospects
PHNOM PENH, July 13, 2008 (AFP) – Sath Vanny sits anxiously at the door to her tiny one-room hut in the factory district of Cambodia’s capital.She left her hometown in the southern province of Takeo seven years ago to work at a women’s shirt factory, sending most of her earnings back to help the family […]
Names to look out for at Beijing Olympics
PARIS, July 13, 2008 (AFP) – AFP Sports Service has chosen a selection of athletes who could be grabbing the headlines during the Beijing Olympics:- ATHLETICS Muna Lee (USA) – Two weeks after her car was struck by a drunken driver and her shoulder was hurt, this thin 27-year-old speedster known more for her 200m […]
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July 11, 2008 (LBO) – Sri Lankan plantations owned by the James Finlay group intend to plant rubber in a big way as part of its diversification strategy, a senior company official said.“We aim to plant rubber wherever possible. It is our number one priority,” said James Sandom, group general manager of Finlay Tea Estates. […]
Sri Lanka tightens use of mobile phones to fight terrorism
July 12, 2008 (AFP) – Sri Lanka Saturday tightened mobile phone regulations and forced service providers to maintain full details of phone users as part of anti-terrorism moves. Sri Lanka, which has a population of 20 million people, has 12 million telephone subscribers, of which 10 million are mobile phones, Kariyapperuma said. Phone operators were […]
Sri Lanka says 18 Tamil Tigers killed in fighting
July 12, 2008 (AFP) – Sri Lanka’s defence ministry said Saturday troops had destroyed Tamil Tiger bunkers and killed 18 rebels in fighting in the north of the island.Casualty figures on both sides cannot be independently verified as the defence ministry bars journalists from travelling to the frontlines.The military put its own losses at 20 […]
Beijing skyline rises faster, higher, stronger
BEIJING, July 12, 2008 (AFP) – As the waves of tourists converge on Beijing over the next month for the Olympics, they will look up to see a stunning new skyline that China’s leaders hope will showcase the nation as a modern world power. Thirty years ago the city was a poverty-stricken backwater studded by […]
Oil prices top 147 dollars per barrel
NEW YORK, July 11, 2008 (AFP) – Oil prices rocketed to records above 147 dollars on Friday as traders seized on the weak US currency, simmering tensions over crude producers Iran and Nigeria and news of a looming strike in Brazil.New York’s main oil contract, light sweet crude for August, hit a historic peak of […]
Dog off the menu for Olympic restaurants: Chinese media
BEIJING, July 11, 2008 (AFP) – Beijing’s official Olympic restaurants have been banned from offering dog meat to avoid offending foreign visitors, state press reported on Friday.The ban, issued by the Beijing Catering Trade Association, forbids all 112 official Olympic restaurants from offering dog meat dishes, and urges other eateries to take pooches off the […]
Sri Lanka yet to resolve England tour crisis
July 12, 2008 (AFP) – Sri Lankan cricket’s governing body has yet to resolve the crisis over next year’s England tour that clashes with a more financially lucrative tournament in India, officials said Saturday.A source at Sri Lanka Cricket dismissed local media reports indicating the board had agreed to allow players to take part in […]