Archive for March 18th, 2008

Minister: Brazil as yet untouched by world financial market crisis

Tuesday, March 18th, 2008

The deepening crisis in the international financial market is yet to affect Brazil's economy, Finance Minister Guido Mantega declared Monday. "We are on solid bases. We have reserves of 195 billion U.S. dollars, and there is great t ...

Finland’s Sunborn to shift shipbuilding activities to Malaysia

Tuesday, March 18th, 2008

As much as 1.4 billion ringgit (438.87 million U.S. dollars) worth of contracts will be up for grabs for Malaysian firms as Finland's Sunborn International plans to move all its shipbuilding activities to Malaysia, local media reported on T ...

ALO chief urges Arab countries to cut unemployment

Tuesday, March 18th, 2008

Director-General of the Arab Labor Organization (ALO) Ahmed Luqman on Monday urged Arab countries to create more jobs to face the challenge of unemployment in the Arab world. In his speech at the inaugural session of the Internation ...

U.S. dollar slides against major currencies

Tuesday, March 18th, 2008

The U.S. dollar slid to a record low against the euro and the Swiss franc Monday, when investors reacted to the latest emergency measures by the Federal Reserve to inject liquidity into the stressed financial markets. The Fed Sunday ...

Cambodia to develop Preah Vihear into tourism spot

Tuesday, March 18th, 2008

The Cambodian government will develop the Preah Vihear temple near the border with Thailand into a tourism spot in an effort to reach the goal of attracting 3 million tourists annually by 2010, local press reported Tuesday. "Tourist ...

Japanese gov’t nominates Tanami as new BOJ chief

Tuesday, March 18th, 2008

The Japanese government has nominated Koji Tanami, governor of the Japan Bank for International Cooperation, as the new governor of the Bank of Japan (BOJ), Kyodo News reported on Tuesday. Earlier on Tuesday, Prime Minister Yasuo Fu ...

Fed moves may be just ’symbolic’

Tuesday, March 18th, 2008

The US Federal Reserve's latest emergency measures are unlikely to bring an end to the financial market crisis, analysts said. But they expect the uncertainty will complicate China's situation, in which domestic policymakers are maneuver ...

Gold, oil hit records on US rate cut talk

Tuesday, March 18th, 2008

Gold and fuel oil futures surged to record highs in Shanghai yesterday on anticipation of more US dollar depreciation triggered by today's expected US interest rate cut. The most actively traded gold futures contract for delivery in June ...