Category: Other
” for Asia
SINGAPORE, May 6, 2009 (AFP) – The International Monetary Fund (IMF) on Wednesday sharply slashed its growth outlook for Asia, predicting a “long and severe recession” for the region’s wealthier but export-reliant economies. The export-led model of economic growth “may not pay the same dividends as in the past” as households in advanced economies were […]
‘s Tamil south
CHENNAI, May 6, 2009 (AFP) – The head of India’s ruling Congress party, Sonia Gandhi, cancelled two planned election rallies Wednesday in the country’s ethnic Tamil-dominated south, officials said. The state is scheduled to go to the polls next week in the fifth and final phase of India’s staggered month-long elections.Party officials, however, denied the […]
Full Testimony
May 6, 2009 (LBO) – Federal Reserve chairman Ben Bernanke told the Joint Economic Committee of the US congress that he expects “economic activity to bottom out, then to turn up later this year.” In contrast to the somewhat better news in the household sector, the available indicators of business investment remain extremely weak. Spending […]
Indian Ocean buoys help predict monsoon: scientists
WASHINGTON, May 4, 2009 (AFP) – Scientists said Monday they had reached the halfway point in a project to set up buoys across the Indian Ocean, helping farmers predict the monsoon in some of the world’s poorest areas.The buoys measure wind, rainfall, temperature and other figures around the Indian Ocean, which has lagged behind the […]
” sweeps African cocoa fields
CANTONDOUGOU, May 5, 2009 (AFP) – The comforting world of chocolate ads could not be further from the harsh reality in the backwoods of the world’s biggest cocoa producer — where rubber is the new crop of choice. In the village of Cantondougou in western Ivory Coast there are no steaming mugs of hot chocolate […]
Bangladesh remittances up despite global recession
DHAKA, May 5, 2009 (AFP) – Bangladeshis working abroad sent home more money in April than in the same month last year, an official said Tuesday, despite warnings that remittances would take a hit from the global slowdown. Bangladesh Bank executive director Khandakar Muzharul Haque told AFP that 857 million dollars were sent back last […]
Monetary Deception
May 01, 2009 (LBO) – In its most recent report on the world economy, the International Monetary Fund (IMF) has compared the ‘Great Depression’ and the current crisis but conveniently ignores the core cause, which is central bank rate manipulation. Predictably, blame is also heaped upon the gold standard for not allowing money to be […]
Sri Lankan tea prices up
April 30, 2009 (LBO) – Sri Lankan tea prices rose again at this week’s auction, propelled by the weakening rupee and strong demand from the Middle East, brokers said.“Teas in the higher priced bracket continued to decline further following quality whilst the neat leaf coloury teas showed a firming up of prices. Poor leaf teas […]
Sri Lanka tea crop falls sharply in March
April 30, 2009 (LBO) – Sri Lanka’s total tea production in March 2009 fell 44 percent to 18.2 million kilos from a year ago owing to drought and reduced crops, the Tea Board said. Tea output in the January-March 2009 period was down 41.6 percent to 48.8 million kilos from 83.5 million kilos in the […]
Sri Lankans asked to limit foreign travel to prevent swine flu spread
April 29, 2009 (LBO) – Sri Lankans should limit non-essential foreign travel to protect themselves from swine flu, the island’s health ministry said, adding that travelers from high risk countries were being screened at the country’s main airport. “The ministry of health appeals to the public to limit foreign travel to essential purposes to protect […]
‘s Bharti Airtel Q4 profit jumps 21 pct
MUMBAI, April 29, 2009 (AFP) – India’s top mobile phone company Bharti Airtel reported Wednesday that fourth-quarter net profit jumped 21 percent year on year, boosted by a rise in the number of cellular phone users.For the full year, the New Delhi-based company announced a 26 percent jump in net profit to 84.69 billion rupees […]
Britain, France fail to get Sri Lanka truce
April 29, 2009 (AFP) – The foreign ministers of Britain and France said Wednesday they had failed to secure agreement on halting Sri Lanka’s military campaign and getting humanitarian access to war-trapped civilians.“We tried very hard — we insisted and we insisted — but it is up to our friends to allow it or not,” […]