Category: Other

SINGAPORE, Sept 12(AFP) – Global financial markets could face major corrections as investors appear to have made scant provision for risks that could hamper economic growth, the International Monetary Fund said Tuesday.“With less accommodative external financing conditions, EM (emerging market) countries that still rely heavily on external financing need to reduce vulnerabilities and pursue reforms […]

NEW DELHI, Sept 11, 2006 (AFP) – British supermarket giant Tesco and Bharti Enterprises are to wrap up talks by October 10 that could bring the first overseas grocery chain to Indian consumers, a report said Monday.“Planning is underway and a team is carrying out extensive research and is testing various models,” Bharti chairman and […]

WASHINGTON, Sept 10, 2006 (AFP) – Six decades after it was created to inject stability into the ruins of the post-war financial system, the IMF is today trying to forge a new role that better represents a globalised economy.The International Monetary Fund is expected to adopt an interim voting reform to give a greater say […]

TOKYO, Sept 10, 2006 (AFP) – Asian nations want to wield more power at the International Monetary Fund and other global forums to reflect their growing economic clout but Europe seems reluctant to cede influence, analysts say.“I think the G7 has to be fundamentally changed to include countries such as China, India and Russia, and […]

PARIS, Sept 10, 2006 (AFP) – The IMF, World Bank and G7 finance ministers will say that the world economy has a vibrant heartbeat when they meet next week in Singapore, but tremors are present in the form of slowing US growth and high oil prices.The International Monetary Fund is expected to give the global […]

PARIS, Sept 10, 2006 (AFP) – The “third oil shock”, as some have dubbed the tripling of oil prices since 2002, has been remarkably well-absorbed by the world economy, analysts say.Contrary to past experience, the sharp rise in prices has not sent the world tumbling into recession, revealing a number of key shifts in the […]

MUMBAI, Sept 10, 2006 (AFP) – Patchy monsoon rains in India this summer have led analysts to downgrade forecasts for farm growth, but full-year projections for gross domestic product remain stable as manufacturing and services boom. Several major forecasts, including the New Delhi-based National Council of Applied Economic Research, expect growth of eight percent in […]

NEW DELHI, Sept 10, 2006 (AFP) – US cola giant PepsiCo has put the head of its India operations in front of TV cameras as it opens a new front in its drive to counter charges of high pesticide levels in its colas.A just released ad shows PepsiCo India chairman Rajeev Bakshi walking a young […]

SINGAPORE, Sept 8, 2006 (AFP) – Singapore, which has been criticized for its cold efficiency and indifferent service, is putting on a happy face as it prepares to host its biggest international conference. “There’s always a misconception that here is not always a vibrant place,” said Goh. “In fact the city has a lot of […]

SINGAPORE, Sept 8, 2006 (AFP) – Singapore will mount its biggest ever internal security operation and clamp down on all street protests when it hosts a global financial gathering next week.Some 10,000 security personnel are being mobilised to ensure order during the International Monetary Fund (IMF) and World Bank meetings, the largest international conference to […]

MOSCOW, Sept 6, 2006 (AFP) – Russia’s Economic Development Minister German Gref lashed out Wednesday against state-owned companies which in his view had a “significantly negative” impact on Russia’s industrial development.“A significantly negative role is played by the state-owned companies, which try to boost their presence on the market by trying to swallow the most […]