Category: Other

SINGAPORE, March 18, 2008 (AFP) – Oil prices retreated from record highs of almost 112 dollars in Asian trading Tuesday on worries energy demand would be affected by the financial market turbulence in the United States, dealers said. “The market could become even more vulnerable to selling due to the deteriorating economic conditions, as well,” […]

HONG KONG, March 18, 2008 (AFP) – The international community has reacted cautiously to the unrest in Tibet, urging restraint from both Beijing and Tibetans, even as street protests condemning China have grown in recent days.“We have really urged the Chinese over several years to find a way to talk with the Dalai Lama, who […]

WASHINGTON, March 16, 2008 (AFP) – In a rare Sunday action aimed at heading off fresh market upheaval, the Federal Reserve cut a key rate for direct loans to certain financial institutions and said it would offer immediate liquidity to the brokerage system.“Today’s moves by the Federal Reserve are the desperate acts of failing men. […]

WASHINGTON, March 16, 2008 (AFP) – US banking titan JPMorgan Chase said late Sunday it was taking over the crisis-hit investment bank and brokerage Bear Stearns for around 236 million dollars. President George W. Bush last month signed a 168-billion-dollar economic stimulus and the government and banks have backed a number of initiatives to help […]

TOKYO, March 17, 2008 (AFP) – World markets saw another day of turmoil and investor jitters Monday as Asian shares plunged, oil hit a fresh high and the dollar fell to a new bottom after the near-collapse of US bank Bear Stearns. Dealers said an emergency cut by the US Federal Reserve to its discount […]

PARIS, March 17, 2008 (AFP) – The most urgent economic priority for European governments is to limit the damage from “the financial market crisis” amid threats of inflation and recession, the head of the IMF said here on Monday.Reforms could take different paths in different countries, and a consensus was needed, as had been achieved […]

KUWAIT CITY, March 17, 2008 (AFP) – Oil-rich Gulf Arab states hit by high inflation are under pressure to revalue their currencies or drop the peg to the flagging US dollar, but de-pegging will come at a cost, analysts say.“If we want high oil prices we should not worry about the (high) price of tomatoes,” […]

FRANKFURT, March 16, 2008 (AFP) – The dollar’s plunge has made the eurozone the world’s biggest economy by one measure and has underscored shifts that are reorienting the 15-nation bloc towards Asia, Russia and oil-rich Gulf states, analysts say. “With the euro now trading around 1.56 against the dollar, the size of its annual output […]

WASHINGTON, March 16, 2008 (AFP) – The financial hurricane tearing through Wall Street has sparked vast losses at major banks, but it has also exposed a formerly secretive corner of America’s financial markets. Millions of Americans track the Dow Jones Industrial Average and their stock portfolios on a daily basis, but the trillion-dollar trade in […]

DHARAMSHALA, India, March 16, 2008 (AFP) – Eighty people have been “confirmed” killed in unrest in Tibet, the India-based Tibetan government-in-exile said Sunday.“Regarding bodies, it’s 80. We have 80 unidentified bodies,” said Thubten Samphel, the spokesman for the Tibetan administration in Dharamshala. He said the toll had been established from “calls made from Tibet” by […]

BAGHDAD, March 16, 2008 (AFP) – The explosive vest has become the weapon of choice for Al-Qaeda in Iraq, with most jihadists nowadays wearing the lethal garment and the number of suicide attacks on the rise, the US military said Sunday. “There has been an increase over time in the use of suicide vest bombers,” […]