Category: Other

NEW YORK, March 6, 2008 (AFP) – The dollar extended its losses against the euro on Thursday, tumbling to another record low after the European Central Bank left its rates unchanged and said fighting inflation was a priority. The euro set a new all-time high of 1.5393 dollars before settling at 1.5381 dollars at 2200 […]

TOKYO, March 7, 2008 (AFP) – Japan’s foreign exchange reserves have topped the one-trillion-dollar mark for the first time, led by the soaring value of gold and the euro, the government said Friday.At the end of February Japan had a total of 979.17 billion dollars in foreign currency, with the rest in gold or International […]

PARIS, March 7, 2008 (AFP) – A senior US Federal Reserve official issued a warning here Friday against expectations the central bank might soon approve another cut in US interest rates aimed at shoring up stock market sentiment. “The Fed is taking a very pro-active stance regarding what we view as economic developments,” Richard Fisher, […]

NEW YORK, March 5, 2008 (AFP) – US financier Warren Buffett has overtaken Bill Gates as the world’s richest man, according to Forbes annual billionaire’s list, which this year saw Russia, China and India making increasing inroads. Buffett, the 77-year-old chief of the Berkshire Hathaway holding company, saw his wealth jump from 52 billion dollars […]

March 6, 2008 (AFP) – Oil edged close to 105 dollars a barrel in Asian trade early Thursday as investors fretted over an unexpected drop in US energy stockpiles, dealers said. It also said it was concerned that the current price “does not reflect market fundamentals (of real supply and demand).” OPEC’s decision to maintain […]

NEW YORK, March 5, 2008 (AFP) – The number of billionaires in Asia jumped more than 30 percent last year, with tycoons from India and China leading the charge, according to Forbes magazine’s annual billionaires list. Taiwan had seven, Indonesia and Singapore both counted five, while Thailand had three and the Philippines two. In total, […]

MANILA, March 5, 2008 (AFP) – Inflation in the Philippines rose to 5.4 percent in February, its highest level since October 2006, the government said Wednesday. The figure was a sharp increase on the 2.6 percent posted for the same period last year and up on the January inflation rate of 4.9 percent. Core inflation, […]

BEIJING, March 5, 2008 (AFP) – China has set an inflation target of around 4.8 percent for 2008, according to the text of a speech Premier Wen Jiabao is to deliver to the national legislature later Wednesday. Wen will deliver the speech when parliament opens around 9:00 am (0100 GMT). The speech was given to […]

SAN FRANCISCO, March 4, 2008 (AFP) – A comScore study released Tuesday shows US mobile Internet use is rising exponentially as people increasingly opt to be online while on the move.The comScore study indicates more than half the US mobile broadband use is done from work computers and that more than 75 percent of the […]

NEW YORK, March 4, 2008 (AFP) – The dollar slipped against the euro Tuesday in the face of fresh inflation fears in the eurozone and a call by the US Federal Reserve chief for tough action to stem US mortgage foreclosures.The single European currency was at 1.5210 dollars around 2200 GMT, up from 1.5203 late […]

COLUMBUS, Ohio, March 4, 2008 (AFP) – Democrat Hillary Clinton vowed to fight all the way to the White House after she checked rival Barack Obama’s momentum in Ohio, while Senator John McCain captured the Republican mantle Tuesday. US networks projected the former first lady would take the economically scarred state of Ohio, but said […]