Category: World
China may raise rates further as inflation hits 7.1-pct
BEIJING, Feb 25, 2008 (AFP) – Inflation remains the primary risk to China’s economy, and the government will stick to a tight monetary policy, state media reported Monday, citing a central bank vice governor.China hiked interest rates six times last year in an effort to tame inflation and cool the economy, which nevertheless grew at […]
‘s inflation soars, world fears knock-on effects
SHANGHAI, Feb 24, 2008 (AFP) – As China’s factory floors feel the pressure from spiralling costs, there is growing nervousness in the rest of the world that the Asian giant’s next big export could be inflation.From air-conditioned US shopping malls to bustling African street markets and remote Asian villages, shoppers have become accustomed over recent […]
A row with girlfriend that could divorce England from Scotland
EDINBURGH, Feb 24, 2008 (AFP) – Alex Salmond, the head of Scotland’s government, has spent his political life fighting for independence from London but says he bears no ill-will towards the “auld enemy”, the English. Nine months after his election as first minister, Salmond sits in his elegant official residence in Edinburgh insisting that independence […]
Hard-pegged Hong Kong sees 4.3-pct inflation as US prices soar 4.6-pct in Jan 2008
HONG KONG, 2008 (AFP) – Higher food prices drove Hong Kong’s underlying inflation rate up to 4.3 percent year-on-year in January, official figures showed Friday. “Apart from the global food inflation, elevated energy prices, appreciation of the (Chinese yuan currency) and the weakening of the Hong Kong dollar would continue to pose upside risks to […]
Commodities boom as Fed money printing weakens dollar
LONDON, Feb 22, 2008 (AFP) – The price of oil soared to an historic high above 101 dollars this week, while gold and platinum also scored record peaks as speculators dived into already buoyant commodities markets. The Eastern Index slid to 9.74 Australian dollars a kilo, from 9.92 Australian dollars a week earlier. Prices of […]
Singapore Airshow sees 13.4 billion dollars in deals: organisers
SINGAPORE, Feb 23, 2008 (AFP) – The Singapore Airshow saw more than 13.4 billion US dollars in sales of aircraft and related equipment this week, thanks to a booming aviation market, organisers have said. Another 2.6 billion dollars was generated from contracts for facilities and other services, they said in a statement issued late Friday, […]
‘s largest solar plant to be built in the US
WASHINGTON, Feb 21, 2008 (AFP) – Abengoa Solar plans to build the world’s largest solar plant in Arizona in cooperation with an energy utility in the southwestern state, the companies said Thursday.Abengoa Solar, a subsidiary of Spain’s Abengoa technology company, signed a contract with Arizona Public Service Co. (APS) to build, own and operate what […]
Zimbabwe annual inflation over 100,000-pct official figures
HARARE, 2008 (AFP) – Zimbabwe’s annual inflation rate has soared to over 100,000 percent, weeks ahead of elections in the southern African country, according to official figures obtained by AFP on Wednesday.“The year-on-year inflation rate for the month of January 2008, as measured by the all items Consumer Price Index (CPI) stood at 100,580.2 percent, […]
Dollar firms as high US inflation put question mark on new Fed printing
NEW YORK, Feb 20, 2008 (AFP) – The dollar firmed Wednesday after higher-than-expected US inflation data raised concerns the Federal Reserve will curb interest-rate easing aimed at boosting sluggish economic growth. Dealers said government figures showing US consumer inflation rising 0.4 percent in January, above forecasts for a 0.3 percent gain, was a cause for […]
New York oil prices hit a record 101.27 dollars
NEW YORK, Feb 20, 2008 (AFP) – New York oil prices struck a record 101.27 dollars a barrel Wednesday on renewed global supply jitters.Oil prices have jumped in the past couple of days amid the supply concerns. The latest price spike burst a prior record peak for New York oil prices of 100.40 dollars struck […]
Dollar weak, gold and oil hit new records amidst loose Fed policy
LONDON, Feb 21, 2008 (AFP) – The dollar dipped against leading currencies on Thursday as dealers worried about slowing economic growth in the United States, analysts said.In European trading, the euro rose to 1.4746 dollars, from 1.4712 dollars in New York late on Wednesday.Against the Japanese currency, the dollar eased to 108.05 yen from 108.13. […]
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HAVANA, Feb 19, 2008 (AFP) – Parliament Chief Ricardo Alarcon, one of Cuba’s top leaders, called on all Cubans Tuesday to “stay united” and uphold “the dignity of this homeland,” following President Fidel Castro’s announcement he is withdrawing from power.“We have to promise him (Castro) that all of us together, now and forever, will be […]