Category: World

Sept 29, 2007 (LBO) – Police in the Indian Ocean Maldives Islands have sought foreign help to probe a blast that injured 12 tourists Saturday, as authorities feared a hit on the country’s top revenue earning industry, reports said. The incident had shattered the islands’ image as a tranquil tourist destination, which had helped the […]

NEW YORK, Sept 27, 2007 (AFP) – US businesses have pledged to spend more than four billion dollars on environmental, educational and humanitarian projects a New York summit organized by former president Bill Clinton. By Thursday, the second day of a three-day summit, several firms had stepped forward with pledges at the Clinton Global Initiative […]

WASHINGTON, Sept 27, 2007 (AFP) – The World Bank on Thursday pledged a record 3.5 billion dollars to aid the world’s poorest countries as it cut the interest rate on loans to big developing countries. The roughly quarter-point lowering of loan rates was a concession by the World Bank as it stepped up efforts to […]

Sept 28, 2007 (AFP) – The Sri Lankan navy destroyed three Tamil Tiger boats off the island’s northeast coast, killing over a dozen rebels, the defence ministry said Friday.The clashes took place late Thursday when a naval patrol sighted 20 boats off Pulmoddai, near the de facto state the Liberation Tigers of Tamil Eelam’s (LTTE), […]

LONDON, Sept 28, 2007 (AFP) – The price of gold surged Friday to the highest level since January 1980 as the precious metal was boosted by the sliding US dollar.On the London Bullion Market, gold prices leapt as high as 739.90 dollars per ounce. Analysts said that gold is winning support from the weak US […]

MOUNTAIN VIEW, California, Sept 27, 2007 (AFP) – Microsoft on Thursday began phasing in a slick new version of its Live Search service in a bid to gain ground on leading Internet search rivals Google and Yahoo. Microsoft’s improved Live Search will be available throughout the United States in a week and globally by the […]

LONDON, Sept 27, 2007 (AFP) – The euro set another record high against the dollar on Thursday as dealers waited nervously for the latest round of data on the United States economy. The European single currency hit 1.4166 dollars, beating its previous record of 1.4162 that was set on Wednesday. Dealers said the foreign exchange […]

MOSCOW, Sept 27, 2007 (AFP) – The Russian subsidiary of Pricewaterhouse Coopers, an international accounting firm, lost an appeal on Wednesday against a back tax bill of 10.4 million dollars (7.4 million euros). In a separate case earlier this year, PWC was found guilty and ordered to pay a fine for helping Yukos to avoid […]

WASHINGTON, Sept 25, 2007 (AFP) – For the first time in almost a decade the World Bank is set to make meaningful cuts in the interest rates it charges China, Brazil, Mexico and other big developing countries, The Wall Street Journal Europe reports Tuesday. Under a deal to increase assistance to poor nations, unnamed bank […]

Sept 25, 2007 (AFP) – The Maldivian government has secured a 30 million dollar commercial loan from the global banking giant HSBC to rebuild harbours, a senior minister said Tuesday.The money will be used to repair jetties damaged by the December 2004 tsunami that cost the atoll nation nearly two thirds of gross domestic product […]

NEW YORK, Sept 25, 2007 (AFP) – A rare copy of the Magna Carta, a 13th century English document enshrining the rule of law, is to go on sale in New York in December, in one of the most important ever sales of a document.The royal charter, dated 1297 and bearing the seal of King […]

September 25, 2007 (LBO) — The Indian Ocean Island of Maldives hopes to use its upcoming sovereign rating to help local firms raise cash in international markets, the atoll’s finance minister said. A sovereign or country rating serves as an indication of a nation’s ability to repay its debt and is a key requirement to […]