Category: Other
EU money chief talks down the Euro
TOKYO, Feb 9, 2008 (AFP) – The euro is still above its fair value, EU economic and monetary affairs commissioner Joaquin Almunia said Saturday. There may be calls however behind closed doors from European ministers for action to try to stem the dollar’s decline against the euro, which is hurting exporters in the eurozone, analysts […]
G7 finance chiefs see growing risks to global economy
TOKYO, Feb 9, 2008 (AFP) – Top world finance ministers warned Saturday that the global economy faces growing threats from a US housing slump and credit crunch, urging banks to come clean on their subprime loan losses.The role of ratings agencies, which have been criticised for not flagging up the impending global credit woes, is […]
IMF chief says countries should consider fiscal boost
TOKYO, Feb 9, 2008 (AFP) – The head of the IMF on Saturday renewed his call for countries to consider fiscal measures to boost demand in the face of slowing economic growth caused by the US subprime loan crisis.International Monetary Fund director general Dominique Strauss-Kahn also urged the world’s financial authorities to work together closely […]
Discord looms as finance chiefs meet on subprime crisis
TOKYO, Feb 8, 2008 (AFP) – World finance chiefs will try to bolster confidence in the faltering global economy when they meet Saturday amid signs of trans-Atlantic friction over how to respond to recent market mayhem. Washington’s calls for other major economies to boost domestic demand seem set to fall on deaf ears as Japan […]
Tobacco could kill more than one billion this century: report
NEW YORK, Feb 7, 2008 (AFP) – Tobacco use could kill more than one billion people around the world this century unless governments and civil society act to reverse the epidemic, according to a World Health Organization (WHO) report released Thursday.“One hundred million deaths were caused by tobacco in the 20th century,” said the report […]
Mufti Plan
Feb 8, 2008 (LBO) – Sri Lanka is setting up public vigilance committees and deploying thousands of policemen in plain clothes to strengthen security after a series of terrorist bombings, a government spokesman said. The aim is to improve surveillance and intelligence through better public co-operation with the authorities, minister Mahindananda Aluthgamage told a news […]
Euro sags ahead of ECB rate decision
TOKYO, Feb 7, 2008 (AFP) – The euro was slightly weaker against its major rivals in Asian trade on Thursday amid nervousness ahead of an interest rate decision by the European Central Bank, dealers said.They said traders were also cautious about a weekend meeting of world finance chiefs in Tokyo where recent financial market turmoil […]
Sri Lanka says tea exports earned record billion dollars
Feb 7, 2008 (AFP) – Sri Lanka earned a record one billion dollars from tea exports last year despite a drop in volumes, the island’s tea board said Thursday.Sri Lanka’s high quality aromatic teas are made with tender leafs and buds of the plant botanically known as Camellia Sinenis. Sri Lanka, the world’s largest exporter […]
Hilary raids own kitty as Obama photofinish takes toll
US-VOTE – 02/07/2008 01:41 GMT – AFP PRINT WASHINGTON, Feb 6, 2008 (AFP) – Hillary Clinton’s race for the White House showed vulnerability Wednesday as she admitted tapping her own pocketbook for five million dollars to keep up a grueling fight against rival Barack Obama. “A month and a half is an eternity in politics […]
‘s hotel bought by Dubai state firm
LONDON, Feb 7, 2008 (AFP) – A property fund backed by an investment arm of the Dubai government bought prime west London property from the Queen’s portfolio, the monarch’s property managers announced on Wednesday. Its revenues from its assets are paid to the finance ministry. The Crown Estate, which manages Queen Elizabeth II’s real estate, […]
French minister calls for more US consultation with G7
PARIS, Feb 5, 2008 (AFP) – Europe will press the United States to show “more cooperation” in dealing with the global financial crisis at a weekend meeting of top finance officials, France’s European minister said Tuesday. “It would have been better if there was a more cooperative attitude — exchanges between treasuries, central banks, fewer […]
Wall Street hammered as survey points to US recession
NEW YORK, Feb 5, 2008 (AFP) – US stocks went into a tailspin Tuesday as a shockingly weak reading on service sector activity bolstered the notion that a recession is at hand in the world’s biggest economy. The Dow Jones Industrial Average sank 370.03 points (2.93 percent) to end at 12,265.13 after sharp losses on […]