Category: Other
Oil prices extend losses; OPEC says demand growth will slow
LONDON, August 15, 2008 (AFP) – Crude prices fell further on Friday as OPEC lowered its forecast for oil demand growth, citing the weak global economy. London’s Brent North Sea crude for October delivery dropped 1.21 dollars to 112.47 dollars a barrel. The September contract had expired at 112.64 dollars on Thursday. New York’s main […]
Sri Lanka tea exporters bank on variety, health benefits
Aug 15, 2008 (LBO) – Sri Lanka’s tea exporters expect to earn about 1.8 billion dollars this year with the wide variety of teas offered and growing awareness of tea’s health benefits expected to keep the market strong. “Sri Lanka has the widest variety of grades and the widest variety of tastes,” said Perera. “Kenya […]
Sri Lankan low grown tea prices on the decline
Aug 15, 2008 (LBO) – Prices of Sri Lankan low grown teas, which make up more than half the crop, fell for the third week running at this week’s Colombo auctions, brokers said. However, high grown teas produced by the listed plantations companies, stayed firm as erratic weather created fears of tight supply. The brokers […]
”’ flow slowing: report
BEIJING, August 15, 2008 (AFP) – Foreign exchange deposits into Chinese banks in July dropped to 5.6 billion dollars, down by nearly half from June, state media reported, indicating the flow of “hot money” into China is slowing. The level of new foreign exchange deposits was lower than last month’s 8.3 billion dollars in direct […]
Sri Lanka fighting endangering civilians: Amnesty
August 15, 2008 (AFP) – Fighting between Sri Lankan troops and Tamil Tiger rebels in the north is endangering the lives of tens of thousands of displaced people, rights group Amnesty International said Friday. Government bombardments and artillery shelling since May have forced thousands to flee their homes, primarily in Kilinochchi and Mullaittivu districts, the […]
Oil prices up at US$113 after US inventory report
NEW YORK, August 13, 2008 (AFP) – Oil prices rallied Wednesday after a weekly US government snapshot showed a surprisingly sharp drop in gasoline stockpiles amid the peak demand season. Oil prices bounced back strongly after sliding to four-month lows Tuesday after Russia announced the end of military operations in Georgia and as the International […]
Vietnam aiming for seven to eight pct growth: state media
HANOI, August 14, 2008 (AFP) – The Vietnamese government has targeted economic growth of seven to eight percent in 2009 and aims to win its fight against soaring inflation, state media said Thursday.Prime Minister Nguyen Tan Dung on Wednesday asked officials to draw up a plan to achieve the growth objective, and to bring inflation […]
‘s expects inflation to fall to 6.0-pct as commodity bubble bursts
SHANGHAI, August 14, 2008 (AFP) – China’s consumer inflation is expected to continue to slow in the rest of this year and in 2009 as global commodity prices ease, Chinese state media reported Thursday.China’s consumer price inflation fell to 6.3 percent in July, off from a nearly 12-year high of 8.7 percent hit in February […]
Recession stalks shrinking eurozone economy
BRUSSELS, August 14, 2008 (AFP) – The eurozone economy contracted for the first time ever, with output falling 0.2 percent in the second quarter increasing the threat of recession driven by a sharp global downturn. The initial official figures come amid rising concern that recession, two consecutive quarters of contraction, is now stalking the 15-nation […]
Euro ticks higher against dollar, oil down
NEW YORK, August 12, 2008 (AFP) – The euro ticked slightly higher against the dollar Tuesday in a market awaiting a fresh batch of indicators on the fragile economic health of the eurozone. “On Thursday, weak GDP (gross domestic product) data from Germany and the eurozone will highlight the problems of the European economies, putting […]
‘s Reliance in tie-up with famed toy store Hamleys
MUMBAI, August 13, 2008 (AFP) – Indian corporate giant Reliance announced a tie-up with famed British toy retailer Hamleys, promising to bring India’s children “world-class toy stores.” Reliance Retail, part of the Reliance Group conglomerate, plans to open two Hamleys stores in Mumbai and New Delhi in 2009 with a total of 20 set to […]
” to restart WTO talks
NEW DELHI, August 13, 2008 (AFP) – India urged developed nations to return to the negotiating table to hammer out a new global trade deal — but only if they are willing to give and not just look for what they can get.The latest round of World Trade Organisation (WTO) talks, which saw emerging powers […]