Category: World

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. […]

NEW DELHI, July 22, 2008 (AFP) – India’s government on Tuesday survived a parliamentary confidence vote that could have led to early polls and scuppered a nuclear energy deal with the United States, state television showed.A total of 253 deputies backed the government, 232 voted against and two abstained, according to results from electronic voting […]

WASHINGTON, July 21, 2008 (AFP) – The sputtering economy has asserted itself as the main concern for US voters less than four months ahead of presidential elections, and with an avalanche of alarming new data it appears unlikely that will change. While crude oil prices fell more than 16 dollars per barrel in the past […]

DUBAI, July 20, 2008 (AFP) – Faced with a scarcity of fertile land, water shortages and surging world food prices, wealthy Arab states in the Gulf are seeking to secure their food supplies by investing in agriculture abroad. Saudi Arabia and the United Arab Emirates, the top food importers among Arab countries in the Gulf, […]

FRANKFURT, July 20, 2008 (AFP) – The European Central Bank is trying to convince people in the eurozone that taking a tough stand on inflation will get them through lean economic times, arguing that long-term gains warrant short-term pain.“There is a particular need to speak to citizens on inflation and monetary policy right now,” Natixis […]

KABUL, July 20, 2008 (AFP) – US human rights lawyers charged Sunday that US military prisons are “legal black holes” and the force is detaining journalists to “shut people up” about activities in Iraq and Afghanistan.A vast detention camp planned for the main US base in Afghanistan will be a “second Guantanamo” where laws do […]