Category: Other
Zimbabwe opposition chief quits run-off, handing win to Mugabe
HARARE, June 23, 2008 (AFP) – Zimbabweans faced an uncertain future Monday after opposition leader Morgan Tsvangirai abandoned a run-off election saying violence had made a fair vote impossible, in a move that virtually hands victory to President Robert Mugabe. “We will no longer participate in the violent illegitimate sham of an election process,” Tsvangirai, […]
Oil prices rise after Jeddah summit
SINGAPORE, June 23, 2008 (AFP) – World oil prices rose in Asian trading on Monday after Saudi Arabia said at a weekend summit that it had raised output, and said speculators were partly to blame for higher prices.New York’s main oil futures contract, light sweet crude for August delivery, was 29 cents higher at 135.65 […]
Sri Lanka tea board to tighten laws on exports
June 23, 2008 (LBO) – The Sri Lanka Tea Board is seeking new laws to tighten quality control on exports and prevent shipments of what are considered teas below a certain minimum standard, a senior official said. Sri Lanka Tea Board chairman Lalith Hettiarachchi said national legislation was required to enforce the ISO 3720 standard […]
Eurozone business activity contracts: survey
BRUSSELS, June 23, 2008 (AFP) – Business activity in the 15 countries sharing the euro contracted in June for the first time for almost five years, according to a widely watched survey on Monday.The eurozone’s purchasing managers’ index (PMI), compiled by data and research group Markit, slid to 49.5 points in June, from 51.1 in […]
Bill Gates surrendering Microsoft helm
SAN FRANCISCO, June 22, 2008 (AFP) – A Harvard University dropout who ushered in the home computer age and made billions of dollars along the way will have his last official day of work at Microsoft on June 27.Three people will essentially fill the void left behind when Bill Gates retires from the company he […]
” at oil price summit
JEDDAH, June 22, 2008 (AFP) – Saudi Arabia’s King Abdullah launched an offensive against oil “speculators” on Sunday as he opened a summit on the soaring price of crude which exposed OPEC divisions over whether to increase production.The king announced that Saudi production had now risen to 9.7 million barrels a day, the highest figure […]
‘s Switzerland for millionaires
SINGAPORE, June 22, 2008 (AFP) – Got at least five million US dollars? A private banker is at your service in Singapore, which is fast gaining a reputation as the Switzerland of Asia for the world’s growing ranks of multi-millionaires.The tiny, tropical island-state, Southeast Asia’s most advanced economy, has emerged as a centre for the […]
Sri Lanka tea trade divided, losing benefits: official
June 21, 2008 (LBO) – Sri Lanka’s billion-dollar tea industry remains too divided, squabbling over trivial matters, and is losing out on benefits it can otherwise win as other industries have done, a senior trade official said. But, Akbarally warned, the gains from high tea prices could be eroded by soaring costs. Production costs shot […]
Olympic torch in Tibetan capital amid tight security
LHASA, June 21, 2008 (AFP) – The Olympic torch relay made its way through Tibet’s capital Saturday amid heavy security three months after deadly riots against Chinese rule, in a move condemned by rights groups.Hand-picked spectators cheered runners as they carried the torch through Lhasa, after the relay started in front of Norbulingka, the former […]
Struggling Wall Street braces for new message from Fed
NEW YORK, June 21, 2008 (AFP) – Whipsawed by fresh worries on the financial sector, Wall Street enters the summer season with investors in a sour mood ahead of a meeting of increasingly hawkish Federal Reserve policymakers. Market jitters have risen amid high oil prices, troubles in the banking sector and the prospect of higher […]
Gulf to earn 1.3 trillion dlrs from oil in two years: report
KUWAIT CITY, June 21, 2008 (AFP) – The oil-rich Gulf Cooperation Council (GCC) states are projected to earn close to 1.3 trillion dollars in oil revenue in 2008 and 2009, a Kuwaiti economic report said on Saturday. The six-nation alliance — Bahrain, Kuwait, Oman, Qatar, United Arab Emirates and Saudi Arabia — earned 364 billion […]
Oil bubble wobbles; new excuse given
NEW YORK, June 19, 2008 (AFP) – Oil prices slumped Thursday after Saudi Arabia said it planned to boost daily output by 200,000 barrels to help cool record-breaking energy costs which are hurting consumers globally. The world’s biggest exporter of crude oil said it would ramp up daily crude production to 9.65 million barrels per […]