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India urged to copy China at Asian Development Bank meeting
MADRID, May 3, 2008 (AFP) – India must boost infrastructure spending and reform its labour market as China has done if it wants its economy to grow as fast as that of its Asian neighbour, participants at the Asian Development Bank’s annual meeting in Spain said Saturday.“The Chinese manufacturing success story has a lot to […]
Microsoft withdraws proposal to acquire Yahoo
SAN FRANCISCO, May 3, 2008 (AFP) – Microsoft on Saturday yanked its proposal to acquire Yahoo, saying the struggling Internet pioneer refused to budge on price despite the software giant upping its offer to nearly 50 billion dollars.Talks aimed at resolving corporate dueling that began with Microsoft’s offer on February 1 to buy Yahoo for […]
Mainland China leg of Olympic torch relay begins in Sanya
SANYA, China, May 4, 2008 (AFP) – The Olympic torch began the mainland China leg of its relay here Sunday in front of thousands of flag-waving supporters, after a global journey marred by protests over Tibet and other controversies.Amid heavy security, winter Olympic speed skating champion Yang Yang was the first to carry the torch, […]
Asian Development Bank promises food relief
MADRID, May 3, 2008 (AFP) – The Asian Development Bank on Saturday promised financial help for nations fighting the global food price crisis and attacked plans for a rice cartel.Loans will help countries subsidise the price of food staples for the poor, ADB president Haruhiko Kuroda said on the first day of the banks four-day […]
Sri Lanka fighting claims 7 lives: military
May 3, 2008 (AFP) – At least seven combatants have been killed in fresh ground fighting between security forces and Tamil Tiger rebels in Sri Lanka’s embattled north, the defence ministry said Saturday. Government troops shot dead four Tiger rebels in clashes in the Weli Oya, Mannar and Jaffna regions on Friday, a ministry statement […]
Malaysia to give food stockpile priority over projects
KUALA LUMPUR, May 3, 2008 (AFP) – Malaysia’s prime minister said Saturday his government would delay non-essential projects and use funds to secure the country’s food supply amid spiralling global food prices. The government announced on Friday that it would spend 2.49 billion ringgit (778 million dollars) this year to boost food production as worldwide […]
Bangladesh garment makers to sell cheap rice to workers
DHAKA, May 3, 2008 (AFP) – Bangladesh garment manufacturers on Saturday said they would distribute subsidised rice to thousands of some of the world’s lowest-paid workers to help them cope with sky-rocketing food prices.The announcement came after around 20,000 textile workers rioted in one of the main garment-making areas near the capital Dhaka last month, […]
‘s Krakatau Steel: reports
JAKARTA, May 3, 2008 (AFP) – India’s Tata Steel could bid for a stake in Indonesia’s largest steel maker PT Krakatau Steel, according to a report here Saturday.“Tata (Steel) has also expressed their interest in finding out more details in the Krakatau Steel privatisation,” the industry ministry’s director general for metal, Ansari Bukhari, told state-run […]
No US economic recovery this year: IMF chief
WASHINGTON, May 2, 2008 (AFP) – International Monetary Fund chief Dominique Strauss-Kahn said Friday that he does not see the US economy recovering from its current doldrums this year.Describing a US government labor report Friday that showed fewer than expected job losses as a “flash in the pan,” the IMF managing director said “the medium-term […]
Microsoft and Yahoo in takeover talks: source
SAN FRANCISCO, May 2, 2008 (AFP) – Microsoft and Yahoo began takeover talks Friday with the US software giant open to raising its 44.6-billion-dollar bid for the struggling Internet pioneer, a source close to the situation told AFP. Yahoo and its unsolicited suitor are privately discussing the buyout bid after months of negotiating indirectly with […]