Category: Other
Australian central bank leaves rates on hold as credit demand slows
SYDNEY, August 5, 2008 (AFP) – Australia’s central bank left interest rates unchanged Tuesday at a 12-year high of 7.25 percent and indicated borrowing costs could fall amid signs of an economic slowdown. “They’re clearly signaling the next move is down,” Oster said. The central bank said it still expected inflation to remain relatively high […]
Scores of Australians duped by Olympic ticket scam: reports
SYDNEY, August 4, 2008 (AFP) – Scores of Australians have been caught in an alleged global scam believed to have conned people worldwide into buying non-existent tickets to the Beijing Olympics, reports said Monday. The Sydney Morning Herald said one Brisbane man had spent 46,000 dollars (42,876 US) for tickets which never arrived while a […]
‘s takeover of Chinese steelmaker on hold: company
BEIJING, August 4, 2008 (AFP) – China Oriental said Monday a takeover of the firm by ArcelorMittal had stalled after Chinese regulators failed to give the green light to the proposed deal in the strategically key steel sector.China’s anti-trust regulator failed to approve the deal for ArcelorMittal to take a stake of more than 70 […]
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 […]
Murdoch plans six new Indian regional TV channels
MUMBAI, August 4, 2008 (AFP) – Media mogul Rupert Murdoch on Monday announced plans to launch six new regional television channels in India, where the media is expanding at a frenetic pace.Murdoch has a strong television presence in Asia’s third-largest economy through leading broadcaster Star, a wholly owned subsidiary of the tycoon’s News Corp. “The […]
” to be housed in Bangladesh: Sri Lanka official
Aug 04, 2008 (LBO) – A South Asian ‘food bank’ to counter rising prices and perceived ‘shortages’ would be housed in Bangladesh, a Sri Lankan official said at the conclusion of a meeting of an eight nation regional grouping in Colombo.The food bank will have contributions from each country according to the size of its […]
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 […]
‘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 […]
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 […]
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 […]
‘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 […]