Category: Other
Sri Lanka expects firm tea prices despite commodity bubble burst
Aug 21, 2008 (LBO) – Sri Lankan tea exporters are expecting prices to remain high owing to good quality leaf, savvy marketing and packaging, though the US dollar is strengthening and a global commodity bubble may have burst.Romesh Moraes of the Tea Exporters Association said the trade aims to maintain its price advantage over its […]
‘s Qantas reports record profit
SYDNEY, August 21, 2008 (AFP) – Australia’s national airline Qantas Thursday reported a 44 percent increase in annual net profit to a record 969 million dollars (842.6 million US dollars). Revenue for the year ended June 30 rose 7.5 percent to 16.19 billion dollars after Qantas carried 38.6 million passengers, up 6.0 percent, the company […]
Oil prices above US$114 traders mull lower gasoline stocks
NEW YORK, August 20, 2008 (AFP) – Oil prices rose on Wednesday after a sharp spike the previous day as traders nervously mulled a larger-than-expected decline in US gasoline stocks. Prices closed higher in edgy trade, wiping out declines experienced earlier in the day, as traders assessed a weekly US inventory report for clues on […]
Matsushita says new DNA technology identifies disease risks
TOKYO, August 20, 2008 (AFP) – Japan’s Matsushita Electric Industrial Co. said Wednesday that it had developed a new way of predicting from a person’s DNA their response to medication and risk of developing disease. Matsushita, which is best known for its Panasonic brand, said it had developed a technology to electronically identify sequence variations […]
”, Venezuela, spooks oil market to drive prices up
SINGAPORE, August 20, 2008 (AFP) – World oil prices rose in Asian trade Wednesday on fresh supply concerns after key producer Venezuela indicated it could ask OPEC to cut output, dealers said. In afternoon trade, New York’s main contract, light sweet crude for September delivery, rose 40 cents to 114.93 dollars a barrel. The contract […]
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 […]
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 […]
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 […]
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 […]
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 […]
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, […]