Category: Other
Critical DNS vulnerability found on internet: experts
SAN FRANCISCO, July 24, 2008 (AFP) – Internet security researchers on Thursday warned that hackers have caught on to a “critical” flaw that lets them control traffic on the Internet.An elite squad of computer industry engineers that labored in secret to solve the problem released a software “patch” two weeks ago and sought to keep […]
Eurozone money supply slows, points to weaker economy: analysts
FRANKFURT, July 25, 2008 (AFP) – Growth of eurozone money supply and credit eased sharply last month, the European Central Bank said on Friday, providing more evidence of a possibly major economic slowdown, analysts said.The ECB said its M3 indicator of money supply showed growth of 9.5 percent in June, down from a revised May […]
One dead as serial bomb blasts hit Indian IT city: police
BANGALORE, July 25, 2008 (AFP) – India’s high-technology capital Bangalore was hit by a string of seven coordinated bomb blasts Friday with at least one person killed and several wounded, police said.Police said the southern city had been put on high alert, with bomb disposal teams and forensic experts rushed into action. “One woman died […]
Pakistan should stop money printing to halt rupee slide: IMF
July 25, 2008 (LBO) – Pakistan should stop printing money to bridge budget gaps to avoid further currency depreciation and loss of foreign reserves, the International Monetary Fund has said.The new money increases demand for goods, and usually cause imports to go up, which in turn increases demand for foreign exchange. If the monetary authority […]
Oil tumbles to US$124 a barrel after Plosser hints at rate hike
NEW YORK, July 23, 2008 (AFP) – Oil prices tumbled Wednesday as supply concerns eased after a bigger-than-expected increase in gasoline reserves was reported in the United States.The threat to supply from Hurricane Dolly in the Gulf of Mexico diminished as the storm veered away from offshore oil installations. New York’s main contract, light sweet […]
Japanese business chief calls for change of government
TOKYO, July 23, 2008 (AFP) – One of Japan’s top business leaders called Wednesday for a change of government to shake up Asia’s largest economy, which faces major challenges from a shrinking population. Democracy is still “immature” in Japan, where the Liberal Democratic Party has ruled almost continuously since it was created in 1955, said […]
Vietnam inflation hits 27 percent, trade gap widens
HANOI, July 24, 2008 (AFP) – Vietnam’s annual inflation rate hit 27 percent in July, the government said Thursday, as rocketing food and fuel costs saddle its economy with one of Asia’s toughest battles against rising prices. The figure was only a little higher than June’s 26.8 percent, but the government’s decision earlier this week […]
India mobile phone giant Bharti Q1 profit up 34 percent
MUMBAI, July 24, 2008 (AFP) – India’s top mobile phone company, Bharti Airtel, said its first-quarter net profit increased by a better-than-expected 34 percent, as subscriptions rose in the world’s fastest-growing wireless market.Net profit for the three months to June was 20.25 billion rupees (470 million dollars) from 15.12 billion rupees for the same period […]
Shock Waves
July 24, 2008 (LBO) – A landmark court ruling against Sri Lanka’s John Keells group involving the privatization of a profitable marine bunkering unit which was coupled with a tax holiday, is sending shockwaves through the island’s private and public sectors. Sri Lanka’s Supreme Court said JKH had got a tax break through a ‘false […]
Sri Lanka Coke unit in plastic bottle recycle venture
July 24, 2008 (LBO) – The Sri Lankan unit of soft drinks maker Coca Cola has teamed up with Manisha Polymer, a local firm, to recycle plastic bottles.“We want to be a part of the solution and not the problem,” says Basil Gadzios, country manager, Coca Cola Beverages Sri Lanka. The firm has been selling […]
Australian inflation rises to 4.5 percent
SYDNEY, July 23, 2008 (AFP) – Australia’s annual inflation rate jumped to 4.5 percent in June, official data showed Wednesday, as Treasurer Wayne Swan warned of the toughest economic conditions in 25 years. The increase from 4.2 percent over the year to March had taken inflation to its highest level since late 1995, excluding a […]
India will not give ground in industrial field: Nath
GENEVA, July 23, 2008 (AFP) – India hinted on Wednesday that it is prepared to see WTO talks founder if rich countries do not take big strides towards developing countries on industrial issues.Indian Commerce Minister Kamal Nath warned that talks on a global trade deal at the World Trade Organization could founder if developed nations […]