Category: World

NEW YORK, Nov 26, 2007 (AFP) – Wall Street saw a sea of red Wednesday in a heavy selloff as investors voiced fears that the housing slump and credit crunch could derail US economic growth. Analysts said retail sales over the Thanksgiving holiday weekend had appeared robust, but economists said the American consumer is being […]

LONDON, Nov 26, 2007 (AFP) – European share prices closed lower Monday, while Wall Street slipped back as investors looked past sharp gains in Asia and continued to fret about the global credit squeeze, dealers said.They said a constant flow of bad news about the impact of the crisis in the US subprime or higher […]

CHICAGO, Nov 27, 2007 (AFP) – The wife of American adventurer Steve Fossett has asked a court to declare him legally dead, nearly three months after his small plane vanished over the Nevada wilderness, a newspaper reported Tuesday.Last year, he guided his Virgin Atlantic GlobalFlyer some 42,000 kilometers (26,000 miles) around the world, setting the […]

KAMPALA, Nov 25, 2007 (AFP) – Commonwealth leaders called on Pakistan on Sunday to remain engaged with the group as they wrapped up a summit here that saw the suspension of President Pervez Musharraf’s country. Leaders from the 53-nation federation “called on the government of Pakistan to respond positively to the Commonwealth’s desire to remain […]

SYDNEY, Nov 26, 2007 (AFP) – Australian republicans Monday said prime minister John Howard’s removal from office opened the way for a bipartisan push for the country to break its ties with Britain’s Queen Elizabeth II.When the referendum failed to get the votes required to pass, Malcolm Turnbull, who was then chairman of the Australian […]

MEXICO CITY, Nov 25, 2007 (AFP) – It was a sacred liquid to the Aztecs and consumed for centuries in Mexico, but the traditional pulque drink seems to be fading in popularity despite its historic roots.“At first, I didn’t like the texture,” said 21-year-old Saria Fuentes, “then I got used to the taste and now, […]

FRANKFURT, Nov 25, 2007 (AFP) – Until recently, Germany has maintained an air of serenity as the euro spiked higher against other major currencies, even though exports are the motor of growth for the eurozone’s biggest economy. That has begun to change however, as seen in particular through comments by Chancellor Angela Merkel, who told […]

SYDNEY, Nov 25, 2007 (AFP) – By revamping itself behind a fiscal conservative, Australia’s Labor Party has overcome big business fears that its election victory could set back the country’s economic boom, analysts say.Australian Industry Group chief executive Heather Ridout said Labor leader Kevin Rudd brought energy, a sense of social justice and an understanding […]

AMTOLA VILLAGE, Bangladesh, Nov 24, 2007 (AFP) – Nearly 20 years ago when small loans from the Nobel peace prize winning Grameen bank first became available in her village, Bilkis Begum wasted no time in signing up.“The Grameen Bank has made profits from the interest we pay.We have also benefited, (but) I am telling the […]

SYDNEY, Nov 25, 2007 (AFP) – Centre-left leader Kevin Rudd stormed to victory in Australia’s election Saturday, ending conservative Prime Minister John Howard’s 11-year rule with pledges to change course on climate change and the Iraq war.Howard, US President George W. Bush’s closest ally in the Iraq war, conceded defeat in Sydney and admitted it […]

KUALA LUMPUR, Nov 24, 2007 (AFP) – Malaysia and India will begin negotiating a free trade agreement in January 2008, a report said Saturday. Rafidah Aziz, Malaysia’s trade minister was quoted as saying a bilateral trade pact could boost Malaysia’s exports to India by 1.3 times, or 12 billion dollars, by 2012. The talks would […]

KAMPALA, Nov 22, 2007 (AFP) – A Commonwealth ministerial committee Thursday decided to suspend Pakistan from the 53-nation bloc pending the return of the rule of law following the imposition of emergency earlier this month. The CMAG comprises Britain, Canada, Lesotho, Malaysia, Malta, Papua New Guinea, St Lucia, Sri Lanka and Tanzania. A Commonwealth heads […]