Category: Other
Zimbabwe inflation hits 2.2 million percent: bank chief
HARARE, July 16, 2008 (AFP) – Zimbabwe’s inflation rate, already the world’s highest, hit an astronomical 2.2 million percent Wednesday after Robert Mugabe’s re-election in a one-man poll critics had said the nation could ill afford. After months of silence on the inflation rate, central bank governor Gideon Gono let slip it was well into […]
‘s elephant orphanage hopes for jumbo success
UDAWALAWE, July 16, 2008 (AFP) – After years of being bottle-fed formula milk, eight orphaned baby elephants appear reluctant to leave their temporary home, but mahouts heave-ho them onto trucks for a journey back to the wild.The elephants are enticed with milk and coconut palm to climb the ramps into the trucks — the time […]
Aussie Arrest
July 16, 2008 (LBO) – Australian police have arrested the director of a Melbourne business school over links with Tamil Tigers following a request from US authorities, a media report said.The Australian newspaper said Thulasitharan Santhirarajah, 34, is expected to be extradited to the United States. “The man is wanted to face prosecution for alleged […]
Federal Reserve tightens US home mortgage lending
WASHINGTON, July 14, 2008 (AFP) – The US Federal Reserve on Monday tightened home mortgage lending in a bid to improve consumer protection from practices blamed in part for the worst US real-estate crisis in decades.The Fed said its board of governors approved rules for home mortgage loans “to better protect consumers and facilitate responsible […]
Global stocks dive on scepticism over US mortgage rescues
LONDON, July 15, 2008 (AFP) – World equity markets and the dollar fell heavily on Tuesday on scepticism that a dramatic weekend US government rescue of two mortgage giants would contain crisis in American finance, analysts said.European equities sank after more steep losses on Wall Street and in Asia, despite an exceptional US rescue on […]
Thailand announces 46-billion-baht anti-poverty package
BANGKOK, July 15, 2008 (AFP) – Thai Prime Minister Samak Sundaravej on Tuesday announced a 46-billion-baht (1.36-billion-dollar) raft of benefits to counter poverty caused by soaring living costs.The six-month anti-poverty scheme will provide tax cuts and free services for six months to Thailand’s worst-off, Samak told a news conference broadcast on national television. The measures […]
Central Bank chief takes over as Maldivian finance minister
July 15, 2008 (LBO) – Maldivian government Tuesday appointed the central bank chief Abdullah Jihad as the new minister of finance, the atoll’s information minister said. Until his appointment, Mausoom was the head of the country’s tourism promotion board. Shougee has now been appointed as the Vice Chancellor of the state-run university to be set […]
Sri Lanka acts to reduce air pollution
July 15, 2008 (LBO) – Sri Lanka’s environmental and transport ministries have made it compulsory for all vehicles to acquire vehicle emission test (VET) certificates to be eligible for revenue licenses. Two companies, CleanCo Lanka and Laugfs Eco Sri Lanka opened emission test centres Tuesday to launch the air pollution reduction scheme. Every vehicle must […]
US Treasury unveils support for Fannie Mae, Freddie Mac
WASHINGTON, July 14, 2008 (AFP) – Treasury Secretary Henry Paulson unveiled measures Sunday to bolster key US housing finance giants Fannie Mae and Freddie Mac, which were given Federal Reserve oversight and bigger credit lines.Paulson said the “central role” the two play in real estate financing meant they should continue to respond to shareholders, and […]
Computer headset lets brain control action
SAN FRANCISCO, July 13, 2008 (AFP) – It’s mind over machine: a US high-tech company has created a headset allowing computer game lovers to use their thoughts to move mountains and make objects disappear on screen.Emotiv, a San Francisco-based startup that marries neuroscience and computer engineering, says its EPOC gaming headset offers only a glimpse […]
Sri Lanka busts fertilizer subsidy budget in five months
July 14, 2008 (LBO) – Sri Lanka has spent almost a year’s allocation for a populist fertilizer subsidy in just five months, the finance ministry said in a report, indicating that more than 30 billion rupees would be needed to maintain it till the year end. Policy Stampede In recent years policy makers and senior […]
Sri Lanka food firm and IFC to push dairy farmers up the value chain
July 14, 2008 (LBO) – The foods division of Sri Lanka’s John Keells Holdings (JKH) has tied up with dairy farmer co-operatives to set up facilities to add value to raw milk, in a move which is backed by the World Bank’s private sector arm, the company said. Gilles Galludec, IFC Country Manager for Maldives […]