Category: World

FRANKFURT, Sept 3, 2007 (AFP) – German bank IKB, badly hit by its exposure to bad housing loans in the United States, said on Monday it expected losses of between 600 and 700 million euros (818 million dollars and 955 million dollars) in its fiscal year 2007-2008. IKB, whose financial year runs from April to […]

TOKYO, Sept 3, 2007 (AFP) – Japan’s farm minister resigned Monday over a money scandal, a week after Prime Minister Shinzo Abe re-shuffled his cabinet in a bid to clean up the government’s image.Endo is the fifth person to leave Abe’s cabinet, besides those removed in the reshuffle, since Abe took the premier’s seat nearly […]

HONG KONG, Sept 3, 2007 (AFP) – Shenzhen Airlines said Monday passengers will soon be able to use their mobile phones and connect to the Internet during flights. Airlines have previously provided onboard air-to-ground fixed telephones on some seats at a premium charge. But until now they have banned the use of mobiles.Swiss-based technology firm […]

HONG KONG, Sept 2, 2007 (AFP) – A Hong Kong woman who won 43 million dollars in a Macau casino may not get her money because the slot machine was not working properly, the territory’s gaming inspector said Sunday. The machine showed the woman had won the equivalent of 5.5 million US dollars after putting […]

KURUMATHI ISLANDS, Maldives(AFP) – Sabrina Chang decided this year to treat herself to a fancy vacation, opting to stay in a thatched bungalow over a lagoon in the Maldives where a swim with exotic fish is as common as taking a stroll. The Maldives is celebrating the 35th anniversary since its first two resorts opened […]

BEIJING, Aug 30, 2007 (AFP) – Starting off as a machine factory worker, Xie Xuren worked his way up through the ranks of China’s ruling Communist Party to on Thursday become the nation’s finance minister.According to the official biography, Xie also boasts engineering credentials from when he served as a worker, technician, machinist and deputy […]

TOKYO, Aug 31, 2007 (AFP) – The dollar was rangebound in cautious Asian trade Friday as investors waited for a speech by the US central bank chief after recent volatility over the housing sector, dealers said.The dollar inched up to 115.99 yen in Tokyo morning trade from 115.86 in New York late Thursday. The euro […]

NEW YORK, Aug 30, 2007 (AFP) – Specialized blogs are abuzz this week with rumors that Internet giant Google will soon launch the “Google Phone” or “GPhone,” a cheap mobile phone equipped with Google’s operating system. Several hackers have recently boasted of having found the way to “unblock” the iPhone and make it work with […]

HARARE, Aug 31, 2007 (AFP) – Zimbabwe President Robert Mugabe has banned all pay rises without authorisation and given himself extra powers in a new bid to curb the world’s highest inflation rate, state media said Friday. As part of the measures, all rents, school fees and service charges must be frozen for the next […]

CARACAS, Aug 30, 2007 (AFP) – The Venezuelan government wants two US oil giants that refuse to come under state control to leave and is not offering compensation, Energy Minister Rafael Ramirez said.There is an estimated 230 billion barrels of oil in Venezuela’s Orinoco field but 78 billion are proved.Exxon Mobil and Conoco Phillips have […]

TOKYO, Aug 30, 2007 (AFP) – Asian stock markets made a cautious rebound Thursday as investors kept an eye on US Federal Reserve moves to combat housing woes that have battered global bourses. Asian markets were in positive territory after a strong recovery on Wall Street overnight but early gains were pared in Tokyo and […]

Aug 30, 2007 (AFP) – The Maldives has invited international investors to bid for the right to construct the tropical nation’s first luxury hotel on the island capital Male, officials said Thursday.Holidaymakers have made Maldives the richest nation in South Asia, with a per capita income of 2,674 dollars.Tourism and fishing account for a large […]