Archive for May 28th, 2008

French president urges measures to combat fuel prices

Wednesday, May 28th, 2008

French President Nicolas Sarkozy has called on European governments to implement a regional-wide cut in oil taxes in a bid to help battered consumers and stem a rising wave of protests. Sarkozy, who was speaking during a radio inter ...

Indonesia finds large offshore gas reserve

Wednesday, May 28th, 2008

A survey team has discovered a major gas deposit with estimated reserve of 10 trillion cubic feet in Indonesia's West Timor Sea off East Nusa Tenggara province, local press said Wednesday. The survey was conducted by Inpex Masela Lt ...

Indonesia urges oil producer countries to help reduce oil price hike impact

Wednesday, May 28th, 2008

Indonesian President Susilo Bambang Yudhoyono Wednesday called on oil producer countries to take part in efforts of decreasing the impacts of the oil price hike. The huge increases of the global prices of oil and some commodities ha ...

EU hesitant to send unspent farm aid to developing countries

Wednesday, May 28th, 2008

A EU proposal to use unspent EU farm aid to alleviate burdens of spiral food prices on farmers in developing countries was cold-shouldered by the bloc's agriculture ministers who propounded Tuesday that the EU should instead boost long-term ...

Bulgaria mulls widely using natural gas for generating electricity

Wednesday, May 28th, 2008

Bulgarian Economy and Energy Minister Peter Dimitrov said Tuesday that natural gas is a better option for electricity generation, local press reported Tuesday. Natual gas would be a cheaper option, given that two major gas pipelines ...

Mexico’s largest airline opens twice-weekly flights to Shanghai

Wednesday, May 28th, 2008

Aeromexico, the largest airline in Mexico, has opened twice-weekly flights between the Mexican capital and Shanghai, China, an Aeromexico spokesman said Tuesday. The flights will facilitate bilateral economic, cultural and tourism e ...

Dollar trades at lower 104 yen in Tokyo

Wednesday, May 28th, 2008

The U.S. dollar traded at the lower 104 yen level early Wednesday in Tokyo. At 9:00 a.m., the dollar was quoted at 104.22-27 yen, compared with 104.19-29 yen in New York and 103.85-88 yen in Tokyo at 5 p.m. Tuesday. The euro ...

London market weighed down by housing share

Wednesday, May 28th, 2008

The London stocks market closed lower on Tuesday following reports that a large number of shares in Barratt Developments had been sold with the FTSE-100 index down28.8 points at 6,058.5. Barratt ended 4 percent lower. Energy ...