Category: Other
Political parties, parliaments most corrupt: graft poll
BRUSSELS, Dec 7, 2006 (AFP) – Political parties and parliaments are seen as the world’s most corrupt institutions and governments are not doing enough to combat the problem, a poll by a respected global graft watchdog said Thursday. The Transparency International survey, of some 60,000 people in 62 countries, found that many ordinary citizens thought […]
Sri Lanka scales down tea production forecasts as trade union strikes continue
December 07, 2006 (LBO) – Sri Lanka is unlikely to reach last year’s tea production record, as trade unions strikes on estates since November over a wage hike, shows no signs of slowing. December production is likely to reach about 21 million kilos over the usual 25 million kilos. “The outlook for January too is not […]
World economy on track for strong 2007
PARIS, Dec 6, 2006 (AFP) – Slowing activity in the US economy and a possible sudden cooling of overheated property markets are the main threats to the world economy in 2007 after vigorous recovery this year. The International Monetary Fund said Tuesday it was lowering its growth estimate for next year from its current prediction […]
‘s richest two percent own half global wealth: UN
HELSINKI, Dec 5, 2006 (AFP) – The world’s richest two percent of adults own more than half of global household wealth, while half the world’s population own only one percent, a UN report published on Tuesday showed. “The study finds wealth to be more unequally distributed than income across countries,” Anthony Shorrocks, director of the […]
Thailand, US deploy first tsunami warning buoy in Indian Ocean
PHUKET, Thailand, Dec 1, 2006 (AFP) – Thai and US officials Friday sent off a ship carrying a tsunami warning device designed to protect millions of people around the Indian Ocean from a repeat of the catastrophe two years ago. Some 220,000 people in a dozen countries were killed by a tsunami that hit off […]
‘s environment, lifestyle
PANAJI, India, Nov 30, 2006 (AFP) – The once low-budget tourist haven of Goa is facing a crisis, environmentalists say, as developers force up land prices and a tourism boom threatens the delicate coastal ecology.“As a result our forest cover, which was 34 percent in 2001 and projected to increase to 40 percent, has now […]
Indian economy grows faster than expected, sparks interest rate concerns
NEW DELHI, Nov 30, 2006 (AFP) – India’s economy grew a faster-than-expected 9.2 percent in the second quarter to September, official data showed Thursday, prompting concerns that overheating will require higher interest rates.The Indian rupee weakened Wednesday against the dollar to 44.74 from 44.65 after the data was announced, and strengthened against the euro to […]
Zimbabwe finance minister predicts growth, inflation fall
HARARE, Nov 30, 2006 (AFP) – Zimbabwe’s finance minister predicted Thursday marginal economic growth in the coming year and that the country’s four-figure inflation rate would dip to 350 percent as he presented the budget for 2007. “The economy is expected to grow marginally by between 0.5 percent and one percent in 2007,” Herbert Murerwa […]
‘s tea companies warn of millions in losses due to trade union action
Nov 30, 2006 (LBO) – Sri Lanka’s plantation companies warned Thursday of millions of rupees in losses due to trade union action on estates, as wage talks reach breaking point. Sri Lanka has over 250,000 estate workers, with the island among the world’s top producers’ at over 300 million kilos of black tea produced a year. […]
‘s new budget aims to salvage ruined economy
HARARE, Nov 29, 2006 (AFP) – Zimbabwe’s Finance Minister Herbert Murerwa walks the tightrope Thursday when he unveils the national budget of a food-hungry country groaning under record inflation and a ruined economy.Murerwa has the unenviable task of trying to stem 1,070.2 percent inflation and a free-falling currency in an economy which has shrunk by […]
‘s largest palm oil firm
KUALA LUMPUR, Nov 27, 2006 (AFP) – Three Malaysian plantation firms will merge to create the world’s largest listed palm oil business, worth 31.4 billion ringgit (8.6 billion dollars), under an ambitious plan announced Monday.A new vehicle, Synergy Drive, will buy the assets and liabilities of Sime Darby Bhd, Golden Hope Plantations Bhd and Kumpulan […]
Global tea experts call for formal standards on world market
NAIROBI, Nov 27, 2006 (AFP) – Global tea experts meeting in Kenya Monday called for tough minimum quality standards to address the growing problem of poor tea entering the international market and depressing prices.“In targeting potential growth markets, recognition of and compliance with food safety and quality standards is essential,” said Kaison Chang, a senior […]