Category: World

SINGAPORE, Sept 20, 2006 (AFP) – The overthrow of Thai Prime Minister Thaksin Shinawatra marked the culmination of a crisis partly triggered by the controversial Singaporean takeover of a major conglomerate from his family.Singapore’s state-linked investment firm Temasek Holdings bought 49 percent of the Thaksin family-controlled telecom giant Shin Corp. in January for nearly 1.9 […]

SYDNEY, Sept 15 (AFP) – Migrants to Australia would have to pass an English language test to prove they were “fair dinkum” (genuine) about fitting into society Down Under, Prime Minister John Howard said Friday. Howard also said the length of time migrants had to live in Australia before they could become citizens would be […]

HARARE, Sept 15, 2006 (AFP) – The annual rate of inflation in Zimbabwe reached a new record high of 1,204.6 percent in August, the central statistics office announced on Friday.The announcement of the new rise came after slight falls in the rate for June and July, which had raised hopes by central bank chief Gideon […]

SINGAPORE, Sept 14, 2006 (AFP) – The strong US and Chinese economies as well as an array of supply issues look set to keep oil prices high next year, with markets pointing to a price of 70-75 dollars a barrel, the IMF said Thursday. The International Monetary Fund warned that a further escalation in oil […]

SINGAPORE, Sept 13, 2006 (AFP) – Asia deserves a bigger role in the International Monetary Fund (IMF) to reflect its growing contribution to the global economy, Singapore’s former prime minister said in remarks published Wednesday.“Asia contributes to about a quarter of the world’s GDP (gross domestic product), but Asia only has about 10 percent of […]

SINGAPORE, Sept 12(AFP) – Global financial markets could face major corrections as investors appear to have made scant provision for risks that could hamper economic growth, the International Monetary Fund said Tuesday.“With less accommodative external financing conditions, EM (emerging market) countries that still rely heavily on external financing need to reduce vulnerabilities and pursue reforms […]

NEW DELHI, Sept 11, 2006 (AFP) – British supermarket giant Tesco and Bharti Enterprises are to wrap up talks by October 10 that could bring the first overseas grocery chain to Indian consumers, a report said Monday.“Planning is underway and a team is carrying out extensive research and is testing various models,” Bharti chairman and […]

PARIS, Sept 10, 2006 (AFP) – The IMF, World Bank and G7 finance ministers will say that the world economy has a vibrant heartbeat when they meet next week in Singapore, but tremors are present in the form of slowing US growth and high oil prices.The International Monetary Fund is expected to give the global […]

PARIS, Sept 10, 2006 (AFP) – The “third oil shock”, as some have dubbed the tripling of oil prices since 2002, has been remarkably well-absorbed by the world economy, analysts say.Contrary to past experience, the sharp rise in prices has not sent the world tumbling into recession, revealing a number of key shifts in the […]

MUMBAI, Sept 10, 2006 (AFP) – Patchy monsoon rains in India this summer have led analysts to downgrade forecasts for farm growth, but full-year projections for gross domestic product remain stable as manufacturing and services boom. Several major forecasts, including the New Delhi-based National Council of Applied Economic Research, expect growth of eight percent in […]

NEW DELHI, Sept 10, 2006 (AFP) – US cola giant PepsiCo has put the head of its India operations in front of TV cameras as it opens a new front in its drive to counter charges of high pesticide levels in its colas.A just released ad shows PepsiCo India chairman Rajeev Bakshi walking a young […]

WASHINGTON, Sept 10, 2006 (AFP) – Six decades after it was created to inject stability into the ruins of the post-war financial system, the IMF is today trying to forge a new role that better represents a globalised economy.The International Monetary Fund is expected to adopt an interim voting reform to give a greater say […]