Category: Other
”: Norway
OSLO, July 30, 2008 (AFP) – The breakdown of the World Trade Organization (WTO) negotiations signals a “new world order” in which the West can no longer unilaterally impose its will on the rest of the world, Norway’s foreign minister said Wednesday.“I may have been present as the world order crumbled.But at the same time, […]
Dismayed powers plea for salvage effort after wrecked WTO talks
GENEVA, July 30, 2008 (AFP) – World trading powers appealed on Wednesday for efforts to salvage WTO proposals amid regret and emotion at the collapse of nine-day marathon talks, and warnings that the poorest countries will suffer.“I would only urge the Director-General (of the WTO) to treat this as a pause, not a breakdown, to […]
Fed extends emergency lending to investment firms
WASHINGTON, July 30, 2008 (AFP) – The Federal Reserve on Wednesday extended its emergency lending program to January 2009 for investment firms aimed at keeping credit flowing in the financial system.The Fed said it took the action “in light of continued fragile circumstances in financial markets” along with other steps to ease a global credit […]
” despite policy conflicts
July 30, 2008 (LBO) – A summit meeting of South Asian leaders this weekend is placing ‘food security’ high on its agenda with promises of more state intervention, officials said, despite recent state meddling that backfired on the region’s poor and farmers.Sri Lanka’s international trade minister G L Peiris told reporters that the time has […]
Sri Lanka tea prices hit by collection fears
July 30, 2008 (LBO) – Prices of Sri Lankan low grown leafy grade teas fell sharply at this week’s Colombo auctions owing to fears that buyers may not be able to collect their purchases.Tea prices have been buoyed by good demand from traditional buyers like Russia and the Middle East oil exporting countries where consumers […]
‘s central bank hikes policy rate to 9.0-pct
MUMBAI, July 29, 2008 (AFP) – India’s central bank Tuesday raised its key short-term lending rate by half-a-percentage point in an aggressive bid to tame inflation riding at a 13-year high, pushing shares down sharply. Indian shares slumped 3.6 percent after the bank announced the hike in the repo rate, at which commercial banks borrow […]
BP profits jump as oil prices smash record highs
LONDON, July 29, 2008 (AFP) – British energy giant BP said on Tuesday that its net profit rallied by 28 percent to 9.47 billion dollars (6.02 billion euros) in the second quarter as oil prices surged to record highs. BP’s revenue soared by 49 percent to 111 billion dollars in the three months to June […]
WTO talks enter tense endgame: officials
GENEVA, July 28, 2008 (AFP) – Talks to forge a new global trade pact teetered on the brink of collapse Tuesday as the World Trade Organization said the mood was “very tense” and major powers blamed each other for the deadlock.“The situation is very tense, things are finely balanced and the outcome is by no […]
Sri Lanka retail chains to charge customers for plastic bags
July 29, 2008 (LBO) – A group of Sri Lankan retail chains will start charging customers for shopping bags from August 01, as part of a campaign with the island’s environment protection office to cut plastic waste, a top retail chain said.Retail chains will also have cardboard boxes. Plastic bags which do not degrade early […]
Typhoon lashes Taiwan, hitting schools and travel
TAIPEI, July 28, 2008 (AFP) – Typhoon Fung-wong slammed into Taiwan’s east coast Monday, bringing fierce winds and heavy rains that forced the closure of schools and offices across the island and severely disrupted travel. The stock market was closed for the day, along with all schools and offices in Taiwan, railway traffic was halted […]
Malaysia to tries to reflate bursting palm oil bubble: report
KUALA LUMPUR, July 27, 2008 (AFP) – Malaysia will put in place a series of measures to stabilise plummeting global palm oil prices including selling off crude stocks, a report said Sunday.Peter Chin, minister of plantation industries and commodities, told the Sunday Star newspaper the government wanted to make sure that the almost 25-percent drop […]
Sri Lanka pepper trade calls for end to Indian restrictions
July 28, 2008 (LBO) – Sri Lanka’s pepper trade has demanded an end to import restrictions imposed by India that they say violates the spirit of a free trade accord between the two countries.The call was made by Gulam Chatoor, a former chairman of the Spices and Allied Products Association, on the eve of a […]