Category: Other

TOKYO, May 16, 2008 (AFP) – Japan’s economy grew at a faster than expected 3.3 percent annualised pace in the first quarter of 2008 despite a global credit crunch and US economic slowdown, official figures showed Friday.The world’s second-largest economy remained in sound health as robust exports to China and other emerging markets offset weaker […]

HONG KONG, May 16, 2008 (AFP) – Hong Kong’s leading shareholder activist has quit the board of the city’s stock exchange, accusing it of being under the influence of politicians and compromising its listing standards.David Webb, who has been a constant critic of government interference on the exchange operator, Hong Kong Exchange and Clearing, resigned […]

NEW DELHI, May 16, 2008 (AFP) – India’s inflation rate accelerated to a 44-month high of nearly eight percent on Friday, dealing a fresh blow to the government which fears a voter backlash.India’s industrial production rose at the slowest pace for six years in March as tighter credit to stem rising inflation hit manufacturing, according […]

WASHINGTON, May 14, 2008 (AFP) – The United States should allow Japan to sell its 1.5 million tons of imported US rice or give it to the World Food Program to help cool runaway rice prices, a nongovernmental organization said Wednesday. “An agreement by Washington and Tokyo for Japan to release its 1.5 million tons […]

FRANKFURT, May 15, 2008 (AFP) – Inflation in Germany fell to 2.4 percent in April from 3.1 percent in March, but remains above the European Central Bank’s target of just below two percent, data confirmed Thursday. Final figures for the annual inflation rate released by the statistics office confirmed a preliminary estimate based on a […]

WASHINGTON, May 14, 2008 (AFP) – The US House of Representatives Wednesday passed a mammoth 290 billion dollar farm bill with a veto-proof majority, which includes subsidies for farmers and help with food bills for the needy.The 100-seat Senate was likely to pick up the bill as early as Wednesday night, where sponsors also hoped […]

JAIPUR, India, May 14, 2008 (AFP) – Police sifted for clues Wednesday after seven near-simultaneous bomb blasts tore through crowded markets in the Indian tourist city of Jaipur, killing at least 80 people.Police have detained one suspect over the attacks, which also targeted a packed Hindu temple, as schools and government offices shutdown Wednesday in […]

SAN FRANCISCO, May 13, 2008 (AFP) – Hewlett-Packard Co.on Tuesday revealed a 13.9-billion-dollar deal to buy Electronic Data Systems in a tie-up that creates a global powerhouse in computer services to compete against IBM.World leading computer maker HP said it will buy Texas-based business services outsourcing titan EDS for 25 dollars a share in cash, […]

BRUSSELS, May 13, 2008 (AFP) – Eurozone finance ministers are considering ways of discouraging “scandalous” excesses in executive pay, including by closing loopholes for golden hand-shakes, Eurogroup chairman Jean-Claude Juncker said Tuesday.“We believe that the excesses of captains of industries’ (pay packages) that we have seen in several countries … are really quite scandalous and […]

BERLIN, May 14, 2008 (AFP) – German President and former IMF head Horst Koehler attacked banks for allowing financial markets to become a “monster” that nearly caused a global collapse, in comments published on Wednesday.“It must by now have become clear to every responsible thinking person in the industry that international financial markets have become […]

TOKYO, May 13, 2008 (AFP) – The dollar was slightly firmer in Asian trade on Tuesday as the market waited for a speech by Federal Reserve chief Ben Bernanke for fresh leads on the health of the US economy, dealers said. The dollar rose to 103.91 yen in Tokyo morning trade from 103.83 in New […]