Category: World

MANILA, October 19, 2008 (AFP) – The Philippines has so far escaped relatively unscathed from the global financial crisis, but its export industries are bracing themselves for tougher times ahead, analysts say.While orders for the remainder of the year still look healthy, exporters fear that going forward into 2009 the outlook might not be so […]

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 plummet as it struggles to cope with surging losses.The sector, one of the most vibrant symbols of India’s economic progress, is going through its “worst-ever phase,” says Civil Aviation Minister Praful […]

STRASBOURG, October 17, 2008 (AFP) – Social networking websites were urged Friday to warn users about the low level of protection given to their profiles at a Council of Europe-organised conference on the issue. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to 678 The European Union […]

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 Delhi and Mumbai, a newspaper reported Saturday.The assistance will be Japan’s largest ever loan for a single construction project overseas, topping the 260 billion yen provided to India […]

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 finance, a task which analysts say is daunting but unavoidable. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to […]

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 shipping companies to sail within areas patrolled by a multinational coalition.“We are still awaiting further developments on the latest Somali piracy case,” Noli de Castro said in a statement that named […]

PARIS, October 16, 2008 (AFP) – Calls mounted Thursday for an overhaul of the global financial system as stocks took a new hammering and Switzerland took drastic action to defend its prized banks with a 60 billion dollar package for UBS. The Tokyo stock market suffered its worst loss for two decades, closing down more […]

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 fall in two decades, ravaged by fears the world’s biggest economy is slipping into recession. The Dow Jones Industrial Average slid 733.08 points (7.87 percent) to close at 8,577.91 […]

WASHINGTON, October 16, 2008 (AFP) – With recession fears for the US economy growing by the day in the wake of a global financial crisis, analysts are pondering the questions of how deep and how wide the downturn will be.Reinforcing those fears, the Commerce Department reported that US retail sales — a key to economic […]

TOKYO, October 16, 2008 (AFP) – Emergency measures to tackle the financial crisis provided little relief for nervous investors Thursday, as stock markets around the world took a battering on fears of a global recession ahead. With most analysts now considering a US recession inevitable, markets looked beyond the current wave of bank rescue packages […]

WASHINGTON, October 14, 2008 (AFP) – The US economic crisis could well make life easier for US military recruiters, who have struggled in recent years to meet their services’ enlistment goals in a time of war. “We do benefit when things look less positive in civil society,” said David Chu, undersecretary of defense for personnel […]

MANILA, October 15, 2008 (AFP) – World rice markets are likely to remain tight next year despite an expected record harvest after key producers clamped down on exports, the International Rice Research Institute (IRRI) said Wednesday.Export prices of one of the world’s most important grains almost tripled between last November and May, triggering riots in […]