Troubled British Airways said Friday that it would slash capital expenditure by one fifth in the current financial year after posting another sharp drop in monthly passenger numbers. "Market conditions continue to be very challenging with trading at levels well below last year," the struggling airline said in a trading update.
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Agence France-Presse - 7/3/2009 5:08 PM GMT
World commodity markets were rocked this week by weak data in the United States, a leading consumer of raw materials, which cast doubt on the prospect of a global economic recovery. Data released Thursday showed US job losses surged to 467,000 in June, pushing the unemployment rate to a 26-year high of 9.5 percent. Agence France-Presse - 7/3/2009 4:45 PM GMT
The Zambian government is ready to face a leading South African bank in court for 74.3 million dollars sought over the breach of a feedstock contract, the attorney general said Friday. "They have not yet served us with the summons but we shall wait for them to do so. I must however mention that we are ready to deal with the matter," said attorney general Mumba Malila. Agence France-Presse - 7/3/2009 4:38 PM GMT
The Zambian government is ready to face a leading South African bank in court for 74.3 million dollars sought over the breach of a feedstock contract, the attorney general said Friday. "They have not yet served us with the summons but we shall wait for them to do so. I must however mention that we are ready to deal with the matter," said attorney general Mumba Malila. Agence France-Presse - 7/3/2009 4:21 PM GMT
The value of Macedonia's international trade activity plummeted 36.8 percent in the first five months of 2009 compared with the same period last year, the State Statistics Office said Friday. Exports were worth 951.1 million dollars (680 million euros) in the January-May period, while imports came in at 1.90 billion dollars, the office said in a statement that omitted figures for the same period last year. Agence France-Presse - 7/3/2009 3:21 PM GMT
An Austrian court has sentenced the state to pay damages to a minor after he suffered major losses in the financial crisis, a newspaper report said Friday. The Vienna court ruled that the state's guardianship authority was guilty of allowing half of the assets of the minor to be invested in stock of real estate company Immofinanz whose stock exchange value was practically halved by the financial crisis and possible embezzlement. Other Business Stories
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The African Union decided Friday not to act on an international war crimes warrant for Sudan's president, at a summit that also yielded a deal on the powers of a new regional Authority. The refusal to arrest Sudan President Omar al-Beshir granted a continent-wide reprieve to a leader accused of war crimes and crimes against humanity in Darfur.
Agence France-Presse - 7/3/2009 8:13 PM GMT
Latest Regional News
Taiwanese President Ma Ying-jeou arrived in Nicaragua Friday for a two-day official visit, aiming to boost ties with one of the poorest nations in Central America. "We want to express our desire here to pursue bilateral cooperation" with Managua, Ma said at a welcoming ceremony where he was greeted by Vice President Jaime Morales and Foreign Minister Samuel Santos.
Agence France-Presse - 7/3/2009 10:21 PM GMT
Latest Sci-Tech News
German auto maker Volkswagen hopes to turn out its first all-electric car in 2013, VW head Martin Winterkorn said Friday. "We are going to use our New Small Family line to offer our first electric vehicle in 2013," he said in a speech, according to an advance text.
Agence France-Presse - 7/3/2009 8:08 PM GMT
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