Category: World

ALBUQUERQUE, September 6, 2008 (AFP) – Republican presidential hopeful John McCain backed a government takeover of two mortgage giants Saturday while his Democratic rival warned that taxpayers should not bail out their shareholders. Asked whether Freddie Mac and Fanny Mae — which underwrite millions of US mortgages — should be placed in a conservatorship, McCain […]

FRANKFURT, September 5, 2008 (AFP) – A monetary policy based on fighting inflation is the European Central Bank’s best weapon against volatile commodity prices and the ongoing financial crisis, ECB president Jean-Claude Trichet said on Friday.“We are committed to deliver price stability and will do what’s necessary to deliver price stability,” Trichet told a conference […]

LONDON, September 4, 2008 (AFP) – Oil prices fell on Thursday as the market digested the latest weekly snapshot of US energy stockpiles which recorded a bigger than-expected drop. New York’s main contract, light sweet crude for delivery in October, slipped 50 cents to 108.85 dollars a barrel. Brent North Sea crude for October dropped […]

PARIS, September 5, 2008 (AFP) – Sharp falls in commodity prices and a rise in the dollar mark the ending of one of the biggest ever speculative bubbles and a change in investor sentiment as the global economy slows, analysts say. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send […]

September 5, 2008 (AFP) – Government forces and Tamil Tiger separatists fought heavy battles in northern Sri Lanka with another 34 combatants killed in fresh clashes, the defence ministry said Friday. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Troops encountered stiff resistance from the rebel Liberation […]

LONDON, September 3, 2008 (AFP) – Oil prices closed modestly lower Wednesday as the market focused on demand amid a slowing global economy and signs that OPEC is under pressure to cut supply.New York’s main contract, light sweet crude for delivery in October, slipped 36 cents to close at 109.35 dollars a barrel after sliding […]

TOKYO, September 4, 2008 (AFP) – The euro and pound languished in Asian trade Thursday but were off lows against the dollar ahead of central bank decisions in Europe, where economies are looking increasingly shaky, dealers said. The euro edged up to 1.4506 dollars in Tokyo morning trade after slipping to a seven-month low of […]

DUBAI, September 4, 2008 (AFP) – Oil-rich Abu Dhabi, which this week boasted of taking over English football club Manchester City, is pumping billions of petrodollars into investments ranging from fine art to films to Formula One.Riding on windfalls from record high oil prices, the wealthiest of the United Arab Emirates’ seven members is starting […]

NEW DELHI, September 4, 2008 (AFP) – India’s inflation slowed for a second week in a row but remained far above the central bank’s tolerance level, data on Thursday showed.Annual inflation slipped to 12.34 percent for the week ended August 23 from 12.40 percent a week earlier, according to the Wholesale Price Index, India’s most-watched […]

NEW DELHI, September 3, 2008 (AFP) – India’s giant Tata Motors sought new sites Wednesday to make the world’s cheapest car after suspending work on its plant in eastern India in the face of huge farmer and political protests. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 […]

KUALA LUMPUR, September 3, 2008 (AFP) – Malaysia has sent crack troops and navy ships to the Gulf of Aden after two of its vessels were seized by pirates last month, according to reports Wednesday. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The comments by deputy […]

MUMBAI, September 2, 2008 (AFP) – US-based auto giant General Motors opened its second plant in western India on Tuesday that will nearly triple annual production capacity to 225,000 vehicles a year. The company said it had invested 300 million dollars in the new factory in Talegaon, near Pune city, 160 kilometers (100 miles) southeast […]