Category: Other
” found in Afghanistan
KABUL, September 8, 2008 (AFP) – An Afghan archaeologist has discovered the remains of an ancient 19-metre-long (62-foot) “sleeping Buddha” in central Afghanistan’s Bamiyan a government official said Monday.Bamiyan, about 140 kilometres (90 miles) northwest of Kabul, is on the ancient Silk Route between Europe and Central Asia. A team led by Zameryalai Tarzi had […]
Asif Ali Zardari sworn in as Pakistan president
ISLAMABAD, September 9, 2008 (AFP) – Asif Ali Zardari became Pakistan’s president Tuesday and faced immediate pressure to combat the Islamic militant insurgency that has engulfed the nation in the past year, as well as a struggling economy.Zardari, the controversial 53-year-old widower of slain opposition leader Benazir Bhutto, was sworn in at a closely-guarded ceremony […]
US takes over Fannie, Freddie in bid to ease finance crisis
WASHINGTON, September 7, 2008 (AFP) – The US government took over ailing mortgage giants Fannie Mae and Freddie Mac on Sunday and placed them in a “conservatorship” in a bid to avert a financial system meltdown from the housing crisis. Treasury Secretary Henry Paulson announced the US regulator was seizing control of the government-chartered, shareholder-owned […]
OPEC struggles with falling oil prices, as bubble deflates
VIENNA, September 7, 2008 (AFP) – The question facing the OPEC oil producer group which meets Tuesday is when, not if, to cut its oil production target as crude prices slide in the face of weakening economic growth, analysts say. Most analysts surveyed by AFP expect the 13-nation cartel to agree to trim its output […]
Singapore Airlines says to cut fuel surcharges
SINGAPORE, September 8, 2008 (AFP) – Singapore Airlines (SIA) said Monday it will cut fuel surcharges on some of its international flights after recent declines in jet fuel prices. The cuts, ranging from four to 10 US dollars, will take effect Tuesday and apply to flights from Singapore to Southeast Asian countries, Australia, New Zealand […]
Kuwait says no need for oil output cut
KUWAIT CITY, September 8, 2008 (AFP) – Kuwait’s Oil Minister Mohammad Al-Olaim said on Monday as he left for an OPEC meeting that he saw no need to cut the cartel’s oil production.New York’s main contract, light sweet crude for delivery in October, rose 65 cents to 106.88 dollars a barrel in electronic deals while […]
White House race a cliffhanger as home stretch looms
WASHINGTON, September 7, 2008 (AFP) – The historic, twisting, cliffhanger White House race is swinging into an eight-week sprint to the finish, with John McCain and Barack Obama locked up in the polls and bare knuckle-rhetoric flying. Whatever happens, the face of American politics is about to be remade. Democrat Obama, 47, would be the […]
McCain backs government takeover of mortgage giants
ALBUQUERQUE, September 6, 2008 (AFP) – Republican presidential hopeful John McCain backed a government takeover of two mortgage giants Saturday while his Democratic rival warned that taxpayers should not bail out their shareholders. Asked whether Freddie Mac and Fanny Mae — which underwrite millions of US mortgages — should be placed in a conservatorship, McCain […]
Fighting inflation best way to deal with financial crisis: ECB chief
FRANKFURT, September 5, 2008 (AFP) – A monetary policy based on fighting inflation is the European Central Bank’s best weapon against volatile commodity prices and the ongoing financial crisis, ECB president Jean-Claude Trichet said on Friday.“We are committed to deliver price stability and will do what’s necessary to deliver price stability,” Trichet told a conference […]
Sri Lanka tea export earnings hit new high
Sept 05, 2008 (LBO) – Sri Lankan tea export earnings hit a new high up to July this year with strong demand continuing from the oil exporting regions of the Middle East and Russia, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Brokers Asia Siyaka […]
No Bail
September 5, 2008 (AFP) – Sri Lanka’s Chief Justice Sarath Silva Friday refused bail for a Buddhist monk and slammed fellow clergymen for not showing respect to the judiciary.The monk was earlier this week remanded until September 15 when he will answer charges of using loud hailers after 10:00 pm in violation of new sound […]
Oil prices at US$108 after US inventory data
LONDON, September 4, 2008 (AFP) – Oil prices fell on Thursday as the market digested the latest weekly snapshot of US energy stockpiles which recorded a bigger than-expected drop. New York’s main contract, light sweet crude for delivery in October, slipped 50 cents to 108.85 dollars a barrel. Brent North Sea crude for October dropped […]