Archive for June 1st, 2008

Arabs to establish union of free zones in region

Sunday, June 1st, 2008

Arab countries will establish "Arab Union of Free Zones" in an effort to coordinate measures and legislation among free zones to attract more investment, local daily Jordan Times reported Sunday. The announcement was made after the ...

Airline fares costlier in India due to rising fuel prices

Sunday, June 1st, 2008

With the prices of fuel rising by19 percent from Saturday midnight, India's airfares look set to goup, the Hindu newspaper reported Sunday. India's public sector oil companies raised air turbine fuel (ATF) prices from 58,387 rupees ...

Brazilian gov’t authorizes 80-percent discount air fares to South America

Sunday, June 1st, 2008

The National Civil Aviation Agency, which controls commercial flights in Brazil, informed on Friday that it will authorize discounts of up to 80 percent on plane tickets to destinations within South America. The decision will become ...

Economic growth of Pakistan slowest in 5 years

Sunday, June 1st, 2008

Pakistan's economy will expand by less than 6 percent for the first time in five years amid double-digit inflation and ballooning budget and trade deficits, local newspaper The Nation reported Sunday. The 3rd quarterly report for th ...

Rising inflation poses challenge for Nepali economy

Sunday, June 1st, 2008

The already tattered Nepali economy now has a new challenge to confront with rising inflation, according to the Nepali central bank's statistics for the first three-quarters of the current fiscal year, which was issued here on Sunday. ...

Indian Times Group buys Virgin Radio of UK

Sunday, June 1st, 2008

Bennett Coleman and Co Ltd, Indian largest media group and also holding the company of the Times of India Group, on Saturday bought Virgin Radio of the United Kingdom(UK) with a total of 104 million U.S. dollars, according to The Times of I ...

Japan’s gas retail prices likely to hit record high

Sunday, June 1st, 2008

Japan's average retail gasoline price is projected to top 170 yen per liter as major oil wholesalers push up the product prices on Sunday with continued rise in world crude oil prices. Japan's biggest oil distributor Nippon Oil Corp ...

Kenya’s Safaricom IPO oversubscribed by 532%

Sunday, June 1st, 2008

Kenya's initial public offering of Kenya's largest mobile service provider, Safaricom was oversubscribed by 532 percent by both local and international investors. Finance Minister Amos Kimunya said on Friday night that local investo ...