Category: World

LONDON, July 29, 2008 (AFP) – British energy giant BP said on Tuesday that its net profit rallied by 28 percent to 9.47 billion dollars (6.02 billion euros) in the second quarter as oil prices surged to record highs. BP’s revenue soared by 49 percent to 111 billion dollars in the three months to June […]

HANOI, July 28, 2008 (AFP) – Hit with Asia’s highest inflation rate and a surprise 30 percent hike in petrol prices last week, some Vietnamese are rediscovering bicycles and the frugal lifestyle of bygone years. Galloping consumer prices — fuelled by record global oil, food and commodity costs — have rocked many countries, but few […]

TAIPEI, July 28, 2008 (AFP) – Typhoon Fung-wong slammed into Taiwan’s east coast Monday, bringing fierce winds and heavy rains that forced the closure of schools and offices across the island and severely disrupted travel. The stock market was closed for the day, along with all schools and offices in Taiwan, railway traffic was halted […]

WASHINGTON, July 26, 2008 (AFP) – A US housing sector that has yet to hit bottom after its worst slump in decades secured a lifeline Saturday from a massive government aid package that is arriving none too soon, analysts say.The aid package expected to be signed by President George W. Bush comes with the housing […]

GENEVA, July 27, 2008 (AFP) – A clash between developing countries over protectionist measures to save farmers from surging imports threatened Sunday to scupper a bid for a new global trade pact, delegates said.Among the issues being thrashed out by trade ministers in Geneva are “special safeguard mechanisms” (SSM) that increase tariffs on agricultural products […]

AHMEDABAD, July 27, 2008 (AFP) – Indian leaders issued appeals for calm Sunday as the army was called out after a wave of bombings killed 45 people in Ahmedabad, a city rocked by deadly Hindu-Muslim riots six years ago. The string of 16 bombings, which left more than 160 people injured, ripped through crowded places […]

GENEVA, July 27, 2008 (AFP) – Here is a summary of key proposals put forward by the head of the World Trade Organization in a bid to break the deadlock among the 153 member states and finally secure a new global trade pact.AGRICULTURAL SUBSIDIES Proposals drawn up by the WTO’s Director-General, Pascal Lamy, envisage sweeping […]

LONDON, July 25, 2008 (AFP) – Oil prices fell further this week, leaving them about 20 dollars off record highs, while there were also losses for metals futures.OIL: Oil prices headed south again amid a drop in fuel demand across the United States, the world’s biggest consumer of energy. Crude futures had risen earlier Friday […]

AHMEDABAD, July 26, 2008 (AFP) – At least 55 people were injured as a series of blasts rocked the western Indian city of Ahmedabad on Saturday, senior officials said.The Press Trust of India news agency, quoting city police, said at least two people also died in the explosions but this could not immediately be confirmed. […]

ALGIERS, July 26, 2008 (AFP) – The price of oil could drop to between 70 and 80 dollars a barrel if the dollar strengthens and concerns over Iran are reduced, OPEC chief Chakib Khelil said Saturday.“If the dollar strengthens and if the crisis with Iran is resolved, the trend in oil prices should be to […]

SAN FRANCISCO, July 24, 2008 (AFP) – Internet security researchers on Thursday warned that hackers have caught on to a “critical” flaw that lets them control traffic on the Internet.An elite squad of computer industry engineers that labored in secret to solve the problem released a software “patch” two weeks ago and sought to keep […]

FRANKFURT, July 25, 2008 (AFP) – Growth of eurozone money supply and credit eased sharply last month, the European Central Bank said on Friday, providing more evidence of a possibly major economic slowdown, analysts said.The ECB said its M3 indicator of money supply showed growth of 9.5 percent in June, down from a revised May […]