Category: World

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 […]

NEW YORK, July 23, 2008 (AFP) – Oil prices tumbled Wednesday as supply concerns eased after a bigger-than-expected increase in gasoline reserves was reported in the United States.The threat to supply from Hurricane Dolly in the Gulf of Mexico diminished as the storm veered away from offshore oil installations. New York’s main contract, light sweet […]

TOKYO, July 23, 2008 (AFP) – One of Japan’s top business leaders called Wednesday for a change of government to shake up Asia’s largest economy, which faces major challenges from a shrinking population. Democracy is still “immature” in Japan, where the Liberal Democratic Party has ruled almost continuously since it was created in 1955, said […]

HANOI, July 24, 2008 (AFP) – Vietnam’s annual inflation rate hit 27 percent in July, the government said Thursday, as rocketing food and fuel costs saddle its economy with one of Asia’s toughest battles against rising prices. The figure was only a little higher than June’s 26.8 percent, but the government’s decision earlier this week […]

MUMBAI, July 24, 2008 (AFP) – India’s top mobile phone company, Bharti Airtel, said its first-quarter net profit increased by a better-than-expected 34 percent, as subscriptions rose in the world’s fastest-growing wireless market.Net profit for the three months to June was 20.25 billion rupees (470 million dollars) from 15.12 billion rupees for the same period […]

NEW YORK, July 22, 2008 (AFP) – Banking giant Wachovia took a hit from the US housing slump with a quarterly loss announced Tuesday of 8.662 billion dollars but its shares surged as it unveiled job cut and other steps to shore up its finances. The loss amounted to 4.20 dollars per share, far above […]

SYDNEY, July 23, 2008 (AFP) – Australia’s annual inflation rate jumped to 4.5 percent in June, official data showed Wednesday, as Treasurer Wayne Swan warned of the toughest economic conditions in 25 years. The increase from 4.2 percent over the year to March had taken inflation to its highest level since late 1995, excluding a […]

GENEVA, July 23, 2008 (AFP) – India hinted on Wednesday that it is prepared to see WTO talks founder if rich countries do not take big strides towards developing countries on industrial issues.Indian Commerce Minister Kamal Nath warned that talks on a global trade deal at the World Trade Organization could founder if developed nations […]

July 21, 2008 (AFP) – Researchers have developed a plant-based cancer vaccine capable of kick-starting the body’s immune response and being tailored to a patient’s specific tumor type, according to a study released Monday.While they have not yet determined whether the immune response is sufficient to destroy the cancer, the researchers are hopeful that the […]

LONDON, July 21, 2008 (AFP) – European stock exchanges forged ahead Monday, powered by news of second-quarter profit at Bank of America that reassured investors about the health of the US financial sector.In London the FTSE 100 index gained 0.52 percent to close at 5,404.30 points, while in Paris the CAC 40 rose 0.65 percent […]

NEW DELHI, July 22, 2008 (AFP) – India’s main opposition party on Tuesday demanded the resignation of Prime Minister Manmohan Singh over allegations the government was bribing lawmakers to survive a vote of confidence in parliament. The demand came as a crucial debate descended into chaos when opposition MPs started waving around large bundles of […]

GENEVA, July 22, 2008 (AFP) – Emerging economies challenged rich countries to prove their goodwill on Tuesday at crucial World Trade Organization talks, which were hamstrung by the absence of the Indian trade minister.Ministers from about 35 key nations are meeting in Geneva this week to break seven-year deadlock over a new global trade deal. […]