Dollar gains against Sterling to five-year high
LONDON, October 22, 2008 (AFP) – The British pound fell Wednesday to a five-year low point against the dollar after Bank of England governor Mervyn King …
World
Aussie non-banks face run after government guarantees banks deposits
SYDNEY, October 21, 2008 (AFP) – Australia’s largest mortgage fund, Challenger Howard, is set to freeze investor redemptions following a rush of …
Anti-dumping probes surge 39 percent in first half of 2008: WTO
GENEVA, October 20, 2008 (AFP) – The number of anti-dumping probes launched by trading nations against alleged unfairly-priced imports surged 39 percent …
Chinese exporters gear up for worst crisis in their miracle rise
CIXI, October 21, 2008 (AFP) – Richard Fan is preparing for what may be the worst crisis of his six-year manufacturing career as the world markets that …
Obama to dash to side of sick grandmother
WEST PALM BEACH, October 21, 2008 (AFP) – Democrat Barack Obama will leave the White House trail later this week to dash to the side of his gravely ill …
Iran hopes OPEC cut would push oil prices to 150 dollars
TEHRAN, October 21, 2008 (AFP) – Iran’s oil minister said on Tuesday that Tehran believes OPEC should cut production by between two million and 2.5 …
India plans to complete global 3G spectrum auction in January
NEW DELHI, October 21, 2008 (AFP) – India said Tuesday its planned global auction for airwaves to offer high-speed third generation mobile phone services …
Societe Generale bank shares slump on recapitalisation rumours
PARIS, October 20, 2008 (AFP) – Shares in French bank Societe Generale slumped in morning trading here on Monday, showing a loss of 10.17 percent to …
India faces “temporary slowdown” from global turmoil: PM
NEW DELHI, October 20, 2008 (AFP) – India must brace itself for slower growth due to worldwide financial turmoil, Prime Minister Manmohan Singh warned …
IMF chief’s wife says ‘one-night stand’ is forgiven
PARIS, October 20, 2008 (AFP) – IMF chief Dominique Strauss-Kahn’s had only a “one-night stand” with a member of the world finance …
French bank chairman quits over 800 million dollar trading loss
PARIS, October 20, 2008 (AFP) – The chairman and director general of the French bank Caisse d’Epargne quit Sunday over an 800 million dollar …
IMF launches probe into director’s affair with employee
NEW YORK, October 18, 2008 (AFP) – The International Monetary Fund has opened an investigation of its director Dominique Strauss-Kahn and his intimate …
India’s Tata chief warns West Bengal of flight of industry
NEW DELHI, October 19, 2008 (AFP) – Tata group chief Ratan Tata, forced to relocate production of the world’s cheapest car from eastern India, has …
Philippine exporters brace for tougher times ahead
MANILA, October 19, 2008 (AFP) – The Philippines has so far escaped relatively unscathed from the global financial crisis, but its export industries are …
India’s airline sector no longer a high flyer
NEW DELHI, October 19, 2008 (AFP) – India’s aviation industry has gone from being one of the world’s high flyers to watching its fortunes …
Social networking sites told to warn users of weak privacy controls
STRASBOURG, October 17, 2008 (AFP) – Social networking websites were urged Friday to warn users about the low level of protection given to their profiles …
Japan to give 4.5 billion dollar loans to India rail project: report
TOKYO, October 18, 2008 (AFP) – Japan will provide India with 450 billion yen (4.5 billion dollars) in loans to help build a freight railway between New …
Big powers gear up for daunting Bretton Woods II
PARIS, October 16, 2008 (AFP) – Europe is enlisting the United States and other powers in a drive to create a new system to ensure order in global …
Philippines warns shipping as more Filipino crew kidnapped off Somalia
MANILA, October 17, 2008 (AFP) – The Vice-President of the Philippines has confirmed the hijacking of a Filipino-manned ship off Somalia and appealed to …
Wall Street suffers historic savaging
NEW YORK, October 15, 2008 (AFP) – Wall Street stocks plunged Wednesday in the second biggest single day point loss in history and their worst percentage …