Category: Other
Lehman Bros. sues Marubeni over investment scam
TOKYO, March 31, 2008 (AFP) – Lehman Brothers on Monday sued Japan’s Marubeni Corp.for about 350 million dollars over a bogus investment scheme allegedly involving two employees of the trading giant. Lehman Brothers filed a lawsuit with the Tokyo District Court seeking compensation of 35.2 billion yen (352 million dollars) from Marubeni, said a spokeswoman […]
Indonesia busts US$20 bln on fuel subsidies as inflation picks up
JAKARTA, March 30, 2008 (AFP) – With prices for key commodities at record highs, Indonesia — Southeast Asia’s biggest economy and a key exporter — should, at first glance, be enjoying good times. But with high oil prices leading to a government fuel subsidy blowout and rising food prices hitting the poor, analysts say most […]
Oil prices volatile in bubbly trade
NEW YORK, March 28, 2008 (AFP) – World oil prices fell sharply Friday on renewed concern that a slowdown in the US economy would dampen energy demand and on news that damage to an Iraqi pipeline was not as serious as first thought. New York crude values dropped under 106 dollars a barrel, a day […]
Philippine company launches 406-dollar mini laptop
MANILA, March 29, 2008 (AFP) – Philippine PC manufacturer Neo and multinational computer processor maker Intel have jointly launched a new 16,999-peso (406-dollar) mini laptop, spokesmen said Saturday.The Neo Explore is a “ruggedized and shock-proof” laptop with a keyboard that will not be damaged by spillages of liquids, said Neo spokeswoman Mariel Que. It weighs […]
British finance minister outlines plans for whistleblower law
LONDON, March 28, 2008 (AFP) – Finance minister Alistair Darling outlined plans on Friday to equip Britain’s financial watchdog with powers to give individuals whistleblower protection in return for evidence in investigations.Darling’s proposals in an interview with The Guardian came just days after British bank Halifax Bank of Scotland was forced to deny market rumours […]
‘s Hayleys in high value farming
Mar 27, 2008 (LBO) – The United States Agency for International Development (USAID) is teaming up with Sri Lanka’s Hayleys group to lift rural subsistence farmers into commercial high value agriculture, the US embassy in Colombo said. The first pilot project will start in April involving 120 farmer families in two of Sri Lanka’s poorest […]
UN spotlights scope of AIDS epidemic in Asia
UNITED NATIONS, March 26, 2008 (AFP) – Nearly 500,000 people will die of AIDS each year in Asia by 2020 unless prevention efforts are fully implemented, a UN report said Wednesday. The figure is up from 440,000 that currently die each year, according to the report commissioned by the United Nations Program on HIV/AIDS (UNAIDS). […]
US firm unveils two-seat craft for space tourism
BEVERLY HILLS, California, March 26, 2008 (AFP) – Plans for a two-seater aircraft designed to shuttle tourists to the brink of outer space were unveiled Wednesday by a firm aiming to secure a slice of the nascent galactic travel market.California-based XCOR Aerospace hopes that its Lynx craft will allow space tourists to get a tantalising […]
Australian financial system coping with global strains: central bank
SYDNEY, March 27, 2008 (AFP) – The Australian financial system had coped better with the recent global strains than many other countries, the central bank said Thursday in its half yearly financial stability review.The banking system remained highly profitable and well capitalised, with the banks having minimal direct exposure to the subprime problems in the […]
Maldives police investigate major heroin find
COLOMBO, March 27, 2008 (AFP) – Maldives police have started a probe into the source of 10 kilograms (22 pounds) of heroin found smuggled into the tiny island capital of Male, officials said Thursday.Police found the drugs at a two-storey apartment on Wednesday night and said the haul was the biggest illegal drug find in […]
Cambodian PM bans rice exports to halt spiraling costs
PHNOM PENH, March 26, 2008 (AFP) – Cambodia’s Prime Minister Hun Sen on Wednesday banned rice exports in a bid to halt the staple food’s spiraling prices, which have reached highs of nearly one dollar a kilogramme.The move comes amid the steady climb in the price of most staple goods, including the doubling of the […]
Wind power breaks records in Spain
MADRID, March 25, 2008 (AFP) – Wind power is breaking new records in Spain, accounting for just over 40 percent of all electricity consumed during a brief period last weekend, the country’s wind power association said Tuesday.As heavy winds lashed Spain on Saturday evening wind parks generated 9,862 megawatts of power which translated to 40.8 […]