Category: Other
Euro hits record high against dollar on US economy worries
NEW YORK, July 11, 2007 (AFP) – The euro surged to a record high against the dollar Wednesday on growing concerns about risky loans in the US property market and a European Central Bank hint of an interest rate hike.In late New York trade, the dollar stood at 1.2062 Swiss francs, up from 1.2019 Tuesday. […]
‘s to start coffee chain in Japan
TOKYO, July 12, 2007 (AFP) – McDonald’s said Thursday it will launch a chain of coffeeshops in Japan, hoping to tap into the country’s growing love of coffee but at lower prices than rivals.The Japanese unit of the global burger empire said it will open 15 “McCafes” in the Tokyo region next month and hoped […]
Graft Web
July 11, 2007 (AFP) – A grouping of companies launched Wednesday a website dedicated to collecting information about officials and governments around the world who seek bribes. The US-based Trace International, a non-profit grouping of multinational firms, said their new website Bribeline.org will allow people or organizations to anonymously report bribe requests. Trace said its […]
Strikes at Chilean mines send copper prices sky-high
SANTIAGO, July 10, 2007 (AFP) – Copper prices soared Tuesday as labor strikes pressured some of the largest copper mines in Chile, which supplies one-third of the world’s supply of the metal.“There is a direct impact on the mine’s production.Because of the violence by a group of subcontractors, it was decided to suspend ore extraction, […]
Free World
BRUSSELS, July 11, 2007 (AFP) – A top European court ordered EU antitrust regulators Wednesday to pay damages to French firm Schneider for wrongfully blocking its takeover bid of a rival, potentially opening a floodgate to other cases.The court’s ruling was one of two blows it dealt to the Commission on Wednesday after it also […]
Sri Lanka tea firms lose on wage hikes and strikes
July 10, 2007 (LBO) – A pay hike wrested by workers with a strike on Sri Lanka’s tea estates last year has taken its toll on two more plantations companies, Kahawatte Plantations and Madulsima Plantations, with both firms reporting losses. “For the industry, it is indeed a dilemma to reconcile social responsibilities with the realities […]
British finance ministry plans to close arms sales department: report
LONDON, July 9, 2007 (AFP) – The British finance ministry wants to shut down the government arms sales department, the Defence Export Services Organisation (DESO), The Guardian reported on Monday.Citing unnamed political sources, the daily said that former Treasury minister Stephen Timms had ordered a review of DESO because of criticisms that it helped subsidise […]
Oil prices drop as Nigerian rebels release British toddler
LONDON, July 9, 2007 (AFP) – World oil prices fell on Monday after rebels in key energy producer Nigeria freed a three-year old British girl. The kidnapping last week of Margaret Hill, along with US supply concerns, had pushed oil prices to near 11-month highs on Friday, above 76 dollars a barrel in London. In […]
Mercy Call
July 9, 2007 (LBO) – The Asian Human Rights Commission (AHRC) is calling on Muslim scholars to appeal a death sentence facing an under-aged Sri Lankan girl who is accused of killing a child in Saudi Arabia. AHRC says the girl, Rizana Naffeek, is facing death for a mistake made while feeding a four month […]
Please Hurry
July 9, 2007 (LBO) – A Hong Kong based rights body has offered to foot a part of the legal fees to appeal the case of a young Sri Lankan girl condemned to death in Saudi Arabia with time rapidly running out to appeal her case. The Asian Human Rights Commission is urging the Sri […]
Sri Lanka to tighten controls on tea imports
July 09, 2007 (LBO) – Sri Lanka’s Tea Board plans to double the import duty on foreign-made teas and introduce quality certification for imports to prevent illicit blending with Ceylon Tea. . Officials say this is aimed at safeguarding the image of pure Ceylon Tea. Under the new rules, to be gazetted soon, the import […]
”’ prepares to defend his crown
NEW DELHI, July 8, 2007 (AFP) – Kishore Biyani, known as India’s “King of Retail”, is spending the weekend his favourite way: trawling the aisles of one of his Big Bazaar supermarkets, eyeing what customers are loading up on.“Modern (chain store) retail makes up about eight percent of total retail in India and is expected […]