Category: Other
Pakistan coalition to meet on new president: spokesman
ISLAMABAD, August 19, 2008 (AFP) – Leaders of Pakistan’s ruling coalition were to meet later Tuesday to discuss a replacement for President Pervez Musharraf and the fate of dozens of deposed judges, a party spokesman said. The meeting comes a day after key US ally Musharraf resigned in the face of impeachment charges, nine years […]
Oil falls to 112 dollars
SINGAPORE, August 19, 2008 (AFP) – World oil prices fell further on Tuesday, dragged down by worries that weaker US oil demand could spread to Europe and Japan, analysts said.New York’s main contract, light sweet crude for September delivery, dropped 48 cents to 112.39 dollars a barrel. That came on top of a 90-cent drop […]
Indian tea tourism helps spread Darjeeling aroma
KURSEONG, August 19, 2008 (AFP) – Touring tea gardens in India’s famous Darjeeling hills and tasting several varieties of the gold-coloured brew has got Audrey Dreyer thinking about a career in the trade.Dreyer, from France, is among a growing number of tourists wanting to experience life on the estates in the famous tea-growing region to […]
Athens gold medal winner Halkia formally expelled
BEIJING, August 19, 2008 (AFP) – Greek runner Fani Halkia has been formally expelled from the Olympics after testing positive for a banned substance, the International Olympic Committee (IOC) said Tuesday. The 29-year-old, who won gold in the women’s 400m hurdles at the Athens Olympics, failed the test while in Japan this month preparing for […]
BHP Billiton posts record 15.4-billion-dollar profit
LONDON, August 19, 2008 (AFP) – The world’s biggest miner BHP Billiton announced record annual net profits of 15.39 billion US dollars (10.46 billion euros), driven by soaring commodity prices and strong Asian demand. The Anglo-Australian resources giant, which was particularly boosted by higher earnings from petroleum and iron ore, beat last year’s net profit […]
Southern African countries launch free trade zone
JOHANNESBURG, August 17, 2008 (AFP) – Southern African countries launched a regional trade zone at a summit on Sunday that aims to eliminate import tariffs, with plans for a common currency by 2018. Eleven of the 14 countries that are part of the Southern African Development Community (SADC) will participate in the free trade area, […]
‘s Musharraf announces resignation
ISLAMABAD, August 18, 2008 (AFP) – Pakistani President Pervez Musharraf announced in a televised address to the nation Monday that he had decided to resign after nine years in power to avoid the threat of impeachment.The former army chief, who seized power in a bloodless coup in 1999, was under huge pressure from the governing […]
Sri Lankan tea exporters ask banks to shed lending fears
Aug 18, 2008 (LBO) – Sri Lankan tea exporters say banks should be less fearful in lending for shipments to key markets in the volatile Middle East and Russia and adopt new lending methods that use brands as collateral. Exporters say they are being restrained by high borrowing costs and a marked reluctance by banks […]
‘s economy as gloomy data piles up
NEW DELHI, August 17, 2008 (AFP) – Until a few months ago, the most popular buzz phrase for India was “economic miracle”, with the nation appearing impervious to the financial turmoil engulfing the developed world. “No other issue is likely to dominate the political scene” as much in the coming months, he said. The government […]
Australia announces Pacific guest worker scheme
SYDNEY, August 17, 2008 (AFP) – Thousands of Pacific Islanders will be allowed to live and work in Australia under a new guest worker plan announced Sunday by the government.Federal Agriculture Minister Tony Burke said the scheme would allow up to 2,500 people from Kiribati, Tonga, Vanuatu and Papua New Guinea to work here for […]
Former Siemens management lax on anti-corruption: report
BERLIN, August 16, 2008 (AFP) – German engineering giant Siemens ignored its own anti-corruption procedures in a slush fund scandal that has brought down a number of former group executives, Spiegel magazine said.“Netzwerk-compliance,” a network comprising more than 400 businesses created to secure good company governance, identified “considerable structural shortcomings” in Siemens’ anti-corruption rules, according […]
Philippine outsourcing industry needs extra 420,000 workers by 2010
MANILA, August 16, 2008 (AFP) – The Philippine outsourcing industry will need an extra 420,000 workers within the next two years as it bids to become one of the world’s leading outsourcing centres, business leaders said Friday. The industry is targetting annual revenues of 12-13 billion dollars by 2010, Business Processing Association of the Philippines […]