Category: Other
S Korea unveils plans to become regional oil storage hub
SEOUL, August 4, 2008 (AFP) – South Korea, the world’s fifth largest crude importer, Monday announced plans for a regional oil storage hub to create new business opportunities and ensure energy security.Existing bunker facilities at the southern ports of Yeosu and Ulsan will be expanded to hold a combined 28 million barrels, said the Vice […]
‘s SAARC nations
August 3, 2008 (LBO) – Bhutan and Bangladesh, tried to fan the flame of free trade in South Asia as dismantling trade barriers went off the agenda, when leaders of seven nations that make up a South Asian regional grouping met in Colombo.The agenda of the South Asian Association of Regional Co-operation (SAARC) was dominated […]
South Asian SAARC summit to conclude amid regional rivalry
August 3, 2008 (AFP) – South Asian leaders will push for anti-terror measures and greater food security as they wrap up a summit Sunday, but efforts to boost cooperation remain hampered by tensions between India and Pakistan. The prime ministers of the two countries met on the sidelines of the eight-nation regional summit, grabbing headlines […]
Thousands of workers strike in inflation-battered Vietnam
HANOI, August 3, 2008 (AFP) – Thousands of workers have gone on strike in Vietnam, demanding higher wages to match the rising cost of living after inflation surged 27 percent year-on-year in July, media reported Saturday. Nearly 5,000 labourers downed tools from Friday at the Kingmaker footwear plant in the Vietnam-Singapore industrial zone in southern […]
Japan Inc suffers 15 percent profit fall in April-June: report
TOKYO, August 3, 2008 (AFP) – The pre-tax profit of major Japanese companies fell 15 percent year on year in the April-June quarter, weighed down by the US economic slowdown and price hikes, a survey showed on Sunday.The survey was conducted by the Nikkei business daily, covering 685 companies that had reported their quarterly earnings […]
Bhutan offers to host South Asian SAARC fund at Sri Lanka summit
August 3, 2008 (LBO) – The landlocked kingdom of Bhutan offered tax concessions to host a planned South Asia Association of Regional Co-operation (SAARC) development fund, at a meeting of the seven nation grouping’s leaders in Colombo.The SAARC development fund is to have a 300 million dollar initial capital which will be used to fund […]
Bhutan wins bid to host South Asian SAARC fund at Sri Lanka meet
Aug 03, 2008 (LBO) – Bhutan will host the secretariat of a South Asian regional fund that has already collected 307 million dollars in commitments at a summit meeting of regional leaders, Sri Lanka’s foreign minister Rohitha Bogollagama said. But 300 million dollars of seed capital is tiny compared to the capital needs of the […]
Iran expects OPEC to control quotas: minister
TEHRAN, August 3, 2008 (AFP) – Iran, the number two oil producer in OPEC, expects the cartel to discuss ways of controlling the quotas of member countries at its next meeting in September, the official news agency IRNA said.“In case of the continuation of a downward trend in oil price, one of the serious discussions […]
Sri Lanka minister says South Asian telecom watchdogs should swiftly cut tariffs
Aug 03, 2008 (LBO) – South Asian telecommunications regulators should quickly move to bring down overseas telephone tariffs, Sri Lanka’s foreign minister Rohitha Bogollagama said at the conclusion of a regional leaders’ meeting.Sri Lanka’s president Mahinda Rajapaksa raised the issue of cheaper call charges during his opening speech at the summit meeting of the South […]
‘s Proton develops new hybrid car: reports
KUALA LUMPUR, August 3, 2008 (AFP) – Malaysia’s state-owned carmaker Proton is developing a new, fuel-efficient hybrid car to beat rising costs and address environmental concerns, reports said Sunday.Prime Minister Abdullah Ahmad Badawi told the state Bernama news agency he had already test-driven the car and urged the company to continue researching energy-saving technologies. “The […]
India-Pakistan tensions to overshadow South Asia Summit
August 2, 2008 (AFP) – A summit of South Asian leaders was set to open in Sri Lanka on Saturday, with tensions between India and Pakistan likely to eclipse regional talks on trade, terrorism and poverty. Indian Prime Minister Manmohan Singh and Pakistan’s new premier Yousuf Raza Gilani were due to hold their first-ever talks […]
Sri Lanka leader calls for lower international phone tariffs in south Asia
Aug 02, 2008 (LBO) – Sri Lankan president Mahinda Rajapaksa called for lower international direct dial (IDD) tariffs to better integrate the people of south Asia when he opened a regional summit in Colombo Saturday.But the international regime was dismantled from 2003, though its remnants seems to be still alive within SAARC. Last month he […]