Category: Other
India inflation eases but RBI warns of rising commodity prices
NEW DELHI, Aug 3, 2007 (AFP) – India’s inflation rate eased to 4.36 percent on falling food prices, official data on Friday showed, after the central bank held benchmark interest rates steady earlier in the week. Inflation dropped in line with market expectations for the week ended July 21 from 4.41 per cent for the […]
India and US in landmark nuclear deal
NEW DELHI, Aug 3, 2007 (AFP) – India and the United States unveiled on Friday the text of an operating agreement for their controversial civilian nuclear technology deal, with key provisions on fuel supplies and safeguards.The agreement, which took two years to complete, spells out how a plan for Washington to share nuclear technology with […]
IMF plays down sharemarket falls as APEC finance meet opens
COOLUM, Australia, Aug 2, 2007 (AFP) – The IMF played down recent sharemarket turmoil and said it would not lower its global economic outlook Thursday as a meeting of Asia Pacific finance ministers opened in Australia.International Monetary Fund (IMF) deputy managing director John Lipsky also said interest rates may need to rise in some countries […]
IMF says monetary policy should be tightened to counter effects of commodity price rises
COOLUM, Australia, Aug 2, 2007 (AFP) – The International Monetary Fund (IMF) said Thursday that some countries may need to hike interest rates to keep inflation under control amid strong world growth and high fuel prices. “In the current context of continued very robust growth and rising prices in energy, commodities and food, to sustain […]
Sri Lanka earns more by selling less tea
Aug 2, 2007 (AFP) – Sri Lanka’s tea export volumes fell by 10 percent in the first six months of this year, but earnings rose marginally by three percent, a commodity broker said Thursday. Sri Lanka, which is better known for its high quality aromatic tea known by the country’s previous name Ceylon, is made […]
Bad TRIP
August 01, 2007 (LBO) – Developing countries Sri Lanka must be provided policy space in areas like intellectual property and get a comparative advantage in world markets, academics say. “The trade rules, even though biased against developing countries, have still created a situation which developing countries with the right policies might be able to succeed […]
Sri Lanka needs more protectionist agricultural policies: agri economist
August 01, 2007 (LBO) – Sri Lanka needs a more protectionist trade policy to ensure vulnerable sections of society are protected from the negative effects of liberalization while enabling its advantages to be exploited, a top agricultural economist said. This was one of the main reasons for the repeated failure of Doha talks, Herath said. […]
Thailand inflation plunges near four-year low in July
BANGKOK, Aug 1, 2007 (AFP) – Thailand’s inflation rate hit a 43-month low of 1.7 percent in July, despite rising food prices, as consumption remained slow, the Commerce Ministry said Wednesday.It was the fifth consecutive rate cut this year and came amid government calls on the bank to tame the volatile baht after the currency […]
EU welcomes ASEAN plan for single market
MANILA, Aug 1, 2007 (AFP) – The European Union’s foreign policy chief Javier Solana on Wednesday welcomed Southeast Asia’s plans to create a single market by 2015.Speaking at an Asian security summit in the Philippines, Solana said Europe was following “with the greatest interest” the plans of the Association of Southeast Asian Nations (ASEAN). “We […]
Murdoch wins control of Dow Jones
NEW YORK, Aug 1, 2007 (AFP) – Media tycoon Rupert Murdoch has won control of Dow Jones & Co. and The Wall Street Journal newspaper in a five billion dollar takeover, the US company confirmed Wednesday. Dow Jones’s assets also include Barron’s magazine, MarketWatch, DowJones Newswires, the Dow Jones Indexes and the Ottaway group of […]
Aborigine wrenched from family wins landmark claim against Aussie govt.
SYDNEY, Aug 1, 2007 (AFP) – An Aborigine removed from his family as a baby in 1958 has won compensation in a landmark court case over Australia’s “stolen generation” scandal, the national broadcaster reported Wednesday.Bruce Trevorrow was awarded damages of 525,000 dollars (448,717 US dollars) in the first such case to have succeeded, the Australian […]
World stocks in meltdown over US economy fears
LONDON, Aug 1, 2007 (AFP) – European and Asian stock markets plummeted Wednesday, mirroring heavy losses the previous day in New York, on mounting fears that weakness in the US housing sector could infect the world economy.In London, Frankfurt and Paris the main share indices were down almost 2.0 percent nearing the half-way stage. The […]