but retail sales fell mainly due to the outbreak of swine flu
consumer prices are expected to be stable despite oil price hikes while the
country current account will retain its surplus trend it added
however south korea vice finance minister hur kyung wook took part in the
central bank policy meeting the first time anyone holding his post has done
so since sparking allegations seoul intervened in the bank decision
about bank officials denounced hur presence as intervention in the bank
decision making but the minister dismissed the allegations
exercised the legal rights to make speeches at the meeting as there is
need to strengthen communication among policy making authorities he told
journalists
good communication between us will help manage risks surrounding the korean
economy he said
analysts said hur attendance was further evidence that the government would
not raise the key interest rate before june
the first rate hike could come only in summer korea investment and securities
economist jun min kyoo told dow jones newswires
others agreed the timing of any rate hike might be pushed back
the private sector has yet to make sustainable recovery as downside risks are
lingering shown by kumho asiana group liquidity woes shin dong su an
economist at nh investment and securities co told yonhap news agency
the central bank apparently wants to tighten money supply but the government
intention to prevent it is now clearer he said
but bank of korea governor lee seong tae stressed that the job of setting the
benchmark interest rate will always remain in the hands of the bank seven
member monetary policy committee which he chairs
he also said the raft of rate cuts between october and february were
special measures amid the global downturn
ultimately we have to return to normal rates he said hinting that the
bank would raise interest rates when the economy is on solid path for
recovery
there is no change in my thoughts that the post normalisation rates will be
considerably different from the current rate of two percent he said
he stressed however there was no side effect from the low interest rate
japan finance chief talks down yen
hong kong jan afp
japan outspoken new finance minister drove the yen lower friday boosting
japanese exporters as asian stocks in general benefited from wall street best
finish since october
day after rattling markets with call for weaker currency naoto kan cooled
his rhetoric friday saying that markets should determine foreign exchange rates
but added tokyo would intervene over strong yen if needed
basically the market determines foreign exchange rates kan said at news
conference as finance minister however it was his duty to take action on
foreign exchange when necessary he added
meanwhile stock markets in tokyo and sydney hit highs not seen for more than
year in tokyo the nikkei closed up points to the best finish
since october
sydney closed up percent with the amp asx at after peaking
at its highest level for months intraday
however falling commodity prices led chinese shares percent lower
following selloff in metal companies and amid reports beijing has warned
state run companies about investment risk
sentiment was also hit by the central bank surprise hike of the auction yield
on three month bills shifting the balance of fears from monetary policy being
too loose to it being too tight ing tim condon said
hong kong was down percent by the break as dealers took profits from
earlier gains
wall street had earlier prompted strong start in the region after the dow
jones industrial average closed up percent to its highest level since
october on better than expected sales results from retailers
however gains were capped by caution ahead of friday key unemployment data
seen as barometer of any us recovery
kan remarks thursday in which he said he wanted to see weaker yen prompted
thinly veiled rebuke from japan prime minister yukio hatoyama who warned him
not to comment publicly on currency levels
it nevertheless signalled that tokyo was toughening its stance against the
unit strength which is bad for exporters
the market confirmed the new finance minister stance of favouring weaker
yen so the dollar is staying higher said hideaki inoue chief foreign
exchange manager at mitsubishi ufj trust and banking
in november the dollar fell to around yen its lowest level since the mid
raising fears for the country export led economy
the dollar stood at yen in tokyo early afternoon trade against in
new york late on thursday when the japanese currency had fallen sharply
the euro was little changed at dollars after and at against
exporters such as toyota and sony were boosted by the weaker yen but japan
airlines plunged more than percent as fears grew that it will be forced to
file for bankruptcy
there is no point in holding jal shares any longer trader at japanese
brokerage firm told dow jones newswires
seoul was percent lower after the central bank held interest rates steady
for the th consecutive month
taipei closed up percent at after falling in the previous session
crude oil prices were lower in asian trade after overnight falls following
recent rally new york main futures contract light sweet crude for february
delivery shed cents to dollars barrel
brent north sea crude for february dropped cents to dollars
hong kong gold opened lower at us dollars an ounce down from
thursday close of dollars
elsewhere singapore was percent higher wellington rose percent to
and manila ended flat at
australia slams indian newspaper ku klux klan cartoon
sydney jan afp
australia on friday angrily condemned an indian newspaper cartoon likening its
police to the ku klux klan over their investigations into the murder of young
indian man
new delhi mail today ran the cartoon showing figure with an australian
police badge wearing pointed white hood following the stabbing murder of
year old indian national nitin garg in melbourne last weekend
any suggestion of that kind is deeply deeply offensive to the police officers
involved and would absolutely condemn the making of comment like that said
deputy prime minister julia gillard
the murder of year old accounting graduate garg has ignited tensions which
have been simmering for months against the backdrop of series of attacks in
victoria state against indians
indian media accused australian police of not doing enough to protect foreign
students who have fuelled lucrative overseas education industry
but australian authorities have insisted there are no indications as yet that
garg who was stabbed in the abdomen as he walked to work at hamburger
restaurant late on december was the victim of race hate crime
the cartoon in which the hooded figure is saying we are yet to ascertain the
nature of the crime was also condemned by victoria police minister bob
cameron
victoria police is very tolerant organisation and victoria is very tolerant
state and to suggest that victoria police is racist is just plain wrong
cameron said
the police union representing the state officers said the drawing was based on
nothing but slow news day in delhi
cartoons in australia are normally done by people who are either clever or
witty and this one neither the secretary of victoria police association
greg davies told reporters
davies said it was incredibly offensive and wrong to suggest police were not
investigating the murder and that it was too early to categorise garg death
as race hate crime
garg killing has prompted india to issue travel warning to its students in
australia and threatens to damage diplomatic ties as well as australia
billion us dollar education export industry
the federation of indian students in australia said it was too early to rule in
or rule out any cause for the death of mr nitin garg
but spokesman gautam gupta urged police to provide statistics on the number of
crimes committed by and against indians and whether criminals have been caught
and trialled in previous cases of assaults against indians
silence on the facts and figures are not going to help the situation he said
adding that there was rising level of cynicism amongst the indian diaspora
in june police said that people of indian origin were victims of crime
against the person such as robberies and assaults in victoria between june
and july an increase from the previous year
gupta said the australian government response to the latest murder was seen as
merely diplomatic and an exercise in public relations and image damage
control
the community feels alienated from the police and the legal system and crises
like these don help at all he said
indian students number in australia and make up percent of foreign
enrolments in universities and colleges which actively target the country
growing middle class
indian car sales rise percent industry
new delhi jan afp
car sales in india surged percent in december industry data showed friday
offering further cheer for global manufacturers gathered at the delhi auto show
sales during the month totalled compared with year earlier
data issued friday by the society of indian automobile manufacturers siam
showed
weak demand in december and the economic recovery at the end of last year
spurred by government stimulus and easier bank loans explained the sharp rise
in sales analysts say
the mood at the auto expo in new delhi which runs until tuesday is upbeat as
foreign and local manufacturers eye the explosive growth of the indian car
market asia third biggest
sales are forecast to double by according to siam forecasts
oil stays below dollars in asian trade
singapore jan afp
crude prices were down in asia friday due to stronger dollar and signs of
easing energy demand in the united states the world biggest oil consuming
nation
new york main futures contract light sweet crude for february delivery fell
cents to dollars barrel in the afternoon the contract topped
dollars on wednesday for the first time in months
brent north sea crude for february delivery eased cents to dollars
the weakening of the us dollar was something that helped oil rally over mid
december as the us dollar strengthens that has an opposite effect on oil
prices said ben westmore minerals and energy economist for the national
australia bank in melbourne
the dollar firmed after japan new finance minister naoto kan spooked
financial markets with call for weaker yen raising speculation about
government intervention in the market
trade in oil is reasonably thin so we re not reading too much into the price
movements but in terms of the daily movement lot of it has to do with the us
dollar westmore added
stronger dollar often tends to dampen demand for dollar priced crude oil and
other commodities as they become more expensive to holders of weaker currencies
us energy inventory data showing easing demand in the world biggest economy
also helped push down prices analysts said
part of the downward correction in the oil prices has to do with the high
level of stockpiles at the moment and the fact that the outlook for global
growth is still reasonably uncertain westmore said
weekly report by the us department of energy doe released wednesday showed
that crude oil reserves rose by million barrels in the week ending january
instead of the expected drop of some barrels
stockpiles of distillates including heating fuel and diesel fell by
barrels in the week sharply below the average analyst forecast of
drop of million barrels amid cold weather across sections of the us
toyota prius japan top selling car in
tokyo jan afp
toyota fuel sipping prius was the best selling car in japan last year
becoming the first hybrid to top the annual rankings industry figures showed
friday
toyota sold petrol electric prius vehicles in far ahead of the
runner up honda non hybrid fit which sold according to the japan
automobile dealers association
the rankings exclude popular mini vehicles with engines of up to cc
the prius has been japan top selling car since may when toyota the world
largest automaker rolled out cheaper revamped model boasting fuel
efficiency of kilometres per litre
prius sales almost tripled in from the previous year while honda insight
hybrid ranked fifth with sales of vehicles the association reported
japanese automakers have made strides with hybrid cars because of high oil
prices and growing concern about emissions blamed for global warming
sales of hybrids are also getting boost from the government incentives in
japan for drivers to purchase less polluting vehicles
automakers hope that the popularity of fuel efficient vehicles helped by
government tax breaks will re energise the flagging auto market which has been
battered by the global economic downturn
but hybrids face competition from pure electric vehicles mitsubishi motors has
rolled out its miev mini electric car while fuji heavy industries launched
the subaru plug in stella
nissan japan third largest automaker was slower than toyota and honda to
embrace fuel sipping petrol electric hybrids but is preparing to launch its
first all electric car the leaf in late in japan
two sentenced to death in myanmar for info leak sources
yangon jan afp
court in myanmar has sentenced two officials to death for leaking information
official sources said friday in case reportedly involving secret contact
between the ruling junta and north korea
two officials got the death sentence and another one was jailed for years
for leaking information they were sentenced at the special court in insein
prison on thursday one source said on condition of anonymity
the two men sentenced to death were win naing kyaw and thura kyaw while the
jailed man was pyan sein the sources said without giving further details
win naing kyaw is former military officer and thura kyaw and pyan sein worked
at the ministry of foreign affairs the website of thailand based news magazine
irrawaddy said
the three men were arrested after information and photos about trip to north
korea by the regime third in command general shwe mann were leaked to exiled
pro democracy media last year irrawaddy reported
the trip involved procuring military arms and discussing tunnel building and
other matters it reported
in june group of exiled myanmar activists released pictures of what they said
was secret network of tunnels built by north korean experts inside myanmar
raising alarm over the country links with nuclear armed pyongyang
the democratic voice of burma said most of the huge vehicle width tunnels were
constructed around the junta new capital naypyidaw
japanese stocks end at month high
tokyo jan afp
japanese stocks closed up percent on friday striking fresh month high
as weaker yen boosted exporters following signs tokyo is toughening its stance
against strong currency
the tokyo stock exchange benchmark nikkei index climbed points to
the best finish since early october
the broader topix index of all first section shares added points or
percent to
exporters such as toyota and sony were boosted by weaker yen after comments
day earlier by incoming finance minister naoto kan that he would like to see the
currency decline further
the remarks were in contrast to those of his predecessor who was widely seen as
being tolerant of stronger currency
bucking the trend japan airlines plunged again as fears grew that it will be
forced to file for bankruptcy
there is no point in holding jal shares any longer trader at japanese
brokerage firm told dow jones newswires
blast kills at alleged militant den in pakistan karachi
karachi jan afp
an explosion flattened house being used by militants in pakistan financial
capital karachi on friday with seven people killed when bomb making materials
detonated accidentally police said
guns grenades and suicide vests were recovered from the house in the poor
baldia town neighbourhood while bodies were buried under the rubble as bomb
disposal experts worked cautiously to clear the site
at least seven people were killed in the explosion senior police official
abdul majeed dasti told afp we have pulled out six bodies from the rubble
while efforts are underway to recover the seventh body
he said hand grenades kalashnikov rifle and suicide vests were found at the
scene while city police chief waseem ahmad said the explosives appeared to have
been detonated unintentionally
it seems that explosives which were stored in the house caused the explosion
ahmad said
the house was being used by terrorists we are taking utmost care in removing
the rubble bomb disposal officials have arrived at the scene
interior minister rehman malik said the people living in the house were from
swat northwestern valley where the military launched an operation last year
to quash two year uprising by taliban fighters
according to reports they were all asleep in the courtyard when this blast
occurred the minister told reporters in karachi
suicide bombings and attacks by the taliban and other islamist militant groups
have intensified in recent months as the military pursues an aggressive
offensive to quash insurgent strongholds near the afghan border
forty three people were killed in karachi pakistan largest city in
bombing blamed on militants during shiite religious procession last month in
the worst attack on the city in two years
baldia town mayor kamran akhtar said the seven dead were in the rented house at
the time of the attack with no passers by caught in the blast
the flattened house was single storey building with small courtyard and an
afp reporter at the scene said the limbs and the head of the victims were
visible under the rubble as rescue officials worked to free them
mohammad saleem local resident told afp he was leaving for his office in the
morning when he heard deafening explosion
when reached the scene found the house had already collapsed he said
those people living in this house never got mixed up with their neighbours but
nobody took any note of it
city police chief ahmad said two people had been arrested at the scene and were
being questioned but gave no further details
nearly people have been killed in attacks in pakistan since the militant
violence intensified in july with the taliban increasingly hitting big
cities and civilian targets
karachi cosmopolitan port city far away from the troubled northwest had
largely been spared the bloodshed but there are fears that militants are using
the cover of city of about million people to regroup and plan attacks
pakistan richest city is also plagued by crime and kidnappings which some
analysts say militant groups use to bankroll their insurgency
islamists say their campaign which has become deadlier over the last year is
to avenge military offensives and pakistan unpopular alliance with the united
states in the eight war against the taliban in neighbouring afghanistan
hutchison offers to buy out loss making telecoms unit
hong kong jan afp
hong kong ports to retail conglomerate hutchison whampoa on friday offered to
take its loss making telecoms subsidiary private in deal valued at million
us dollars
the group headed by tycoon li ka shing said the proposal to take over
hutchison telecom would allow it to manage the troubled firm investments more
flexibly
shareholders in the telecoms group will be offered hong kong dollars
us share premium of percent to hutchison telecom pre suspension
price of dollars monday hutchison whampoa currently holds percent
stake in the firm
as well as telecoms hutchison whampoa has holdings in ports retail property
energy and infrastructure across the world
hutchison telecom an emerging markets focused group has undertaken string of
asset disposals in recent years including in india and hong kong and macau
but it said in joint statement with its parent that the remaining operations
in indonesia sri lanka thailand and vietnam all generate negative cash flow
the statement said that in the short and medium term hutchison telecom faces
potential uncertain financial performance with the associated risk of
significant share price volatility thus making it less suited to remain
publicly listed entity
it added that the privatisation would better enable hutchison telecom to make
investment decisions without the pressures associated with being publicly
listed company
two sentenced to death in myanmar for info leak sources
yangon jan afp
court in myanmar has sentenced two officials to death for leaking information
official sources said friday in case reportedly involving secret contact
between the ruling junta and north korea
two officials got the death sentence and another one was jailed for years
for leaking information they were sentenced at the special court in insein
prison on thursday one source said on condition of anonymity
the two men sentenced to death were win naing kyaw and thura kyaw while the
jailed man was pyan sein the sources said without giving further details
football sergeant katongo needs to rediscover scoring drill
luanda jan afp
zambia striker christopher katongo burst on to the international stage with
hat trick against south africa in qualifier for the previous african nations
cup
then lusaka based national army corporal he gave one of the deadliest
displays of finishing seen in qualifying competition covering five decades
with three goals before bafana bafana the boys knew what hit them
he was promoted to sergeant for his feat and soon became professional
footballer first with jomo cosmos in south africa then brondy in denmark and
now arminia bielefeld in the german second division
christopher whose younger south africa based brother felix is also regular
national team starter as midfielder did not impress in the qualifiers for
angola scoring just once
and unless he rediscovers his scoring touch chipolopolo copper bullets seem
doomed to sixth consecutive first round exit after tackling group opponents
cameroon tunisia and gabon
born in the mining town of mufulira years ago the metre striker began
his football career with kalulushi modern stars and sprang to national
prominence after joining army outfit green buffaloes
football opportunity knocks for le roy protegy renard
luanda jan afp
herve renard faces his baptism as an african nations cup coach two years after
working with one of the best to grace the tournament
the year old frenchman assisted compatriot claude le roy in taking hosts
ghana to third place thanks to four goal salvo against fellow beaten semi
finalists ivory coast in play off
when le roy moved on to the middle east state of oman he recommended renard to
coach less zambia and officials in the southern africa country did not hesitate
to give the unproven frenchman an opportunity
there have been highs like holding egypt away in world cup qualifier and
finishing third behind the democratic republic of congo and ghana at the
inaugural african nations championship in ivory coast last march
and matches best forgotten include home defeat by algeria which
effectively ended dreams of place at the world cup in south africa and
also failing at home to egypt
renard coached in england and china before making africa his base and has
attracted attention from leading ivory coast club asec mimosas and the
senegalese national team
football goal shy strikers threaten to derail zambia
luanda jan afp
zambia coach herve renard needs only few seconds to discover the problem
threatening to derail ambitions of african nations cup quarter finals
place
in qualifying matches leading to angola chipolopolo copper bullets managed
to score miserly four goals and no player was on target more than once for
national team with dismal recent cup record
since finishing third in the last time southern africa staged the
biennial african football showcase zambia have qualified for five of six
tournaments and made first round exit every time
renard at the youngest of five french coaches who will perform sideline
patrols in angola has vowed to do better and set his squad quarter finals
target
that will not be easy in group where revitalised cameroon are favourites and
considered potential champions tunisia have much to prove after falling at the
final world cup hurdle and gabon boast young squad packed with promise
our target is to reach the second round stressed renard to zambian reporters
before heading for pre tournament camp in south africa where chipolopolo
defeated mozambique and held nigeria
in life one makes progress step by step when arrived in this country my
ambition was to qualify for the african nations cup now we want to go to the
next step
but poor finishing continued to plague the team in warm up games as they struck
just one against mozambique and none against nigeria and renard is running short
of time to discover solution
germany based captain christopher katongo offers the best hope as he was
consistent scorer at international level until affected by the malaise that
gripped the entire team during the qualifiers
and while zambia did face formidable qualifying opponents in togo egypt and
algeria the same cannot be said of minnows swaziland and rwanda who conceded
only one goal each over minutes
china based james chamanga and collins mbesuma of south african club moroka
swallows are potential partners for katongo whose younger brother felix is
likely midfield starter
many of the squad play in south africa including goalkeeper kennedy mweene from
free state stars on whom much may depend given the failure to convert chances at
the other end
football coach benzarti gets second nations cup chance
luanda jan afp
faouzi benzarti began the african nations cup qualifying campaign dreaming
of place in angola but not with his native tunisia
he was in charge of north african neighbours libya whose charge came to
dramatic halt after the first of two qualifying phases when late loss in gabon
eliminated them on goal difference
the coach stayed on until the african nations championship new event for
local based stars and another first round exit led benzarti to pack his bags
and quit tripoli for home
he returned to former club esperance led them to the league title
and got national call up when portuguese coach humberto coelho was fired after
failing to qualify for the world cup in south africa
hopes are high that national team overly concerned with defence when making
quarter finals exits from the last two african tournaments will be afforded more
freedom by the tunisian who boasts host of club honours
midfielder oussama darragi is one who should benefit as he works beside benzarti
at esperance and will be hoping for the starting place that proved difficult to
secure under his predecessor
urgent two sentenced to death in myanmar for info leak sources
yangon jan afp
court in myanmar has sentenced two officials to death for leaking information
official sources said friday in case reportedly involving secret contact
between the ruling junta and north korea
afp graphics advisory
hong kong jan afp
we shall move the following graphics
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text slug attacks us nigeria obama measures
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updated fact file on the ady gil superboat which sank in antarctic waters after
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text slug australia nzealand japan whaling
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heightened tensions over the use of the word allah by non muslims
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graphic showing the venue of the australian open in melbourne january
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