No World Bank aid for Myanmar: top official

"Singapore (ANTARA News) - The World Bank is not currently in a position to give aid to Myanmar, its managing director said Tuesday, saying the cyclone-hit country has been in arrears since 1998."At this time we are not in a position of providing resources to Myanmar," Juan...

Asian stock markets crash, London, New York next? « Peter J. Cooper’s Weblog

Stock indices still look quite perky in London and New York despite what senior commentators dub the worst financial crisis since the Second World War. Yet Asian markets tell a different story and probably signal days to come.

ADB announces fund to fight global warming

"The head of the Asian Development Bank announced on Monday a new fund to combat damage caused by climate change, which he termed a "fundamental threat" to economies and livelihoods in Asia."I am pleased to announce that we will ... establish a Climate Change Fund, with an...

Difficult times will test prudence of Asian sovereigns - S&P

"The potential negative effects from U.S. housing and economic problems on Asia are becoming more obvious, the rating agency said in a report. They include reduced Asian exports, decline in capital flows, credit crunch and liquidity tightening, volatile or weakening asset...

World oil near record highs in Asian trade

"Singapore (ANTARA News) - World oil traded near record highs at just below $122 on Wednesday on concerns over supply in key producer Nigeria and a weaker U.S. dollar.New York's main oil futures contract, light sweet crude for June delivery, was 9 cents lower at $121.75 in...

13 Asian nations agree to set up US$80 bil crisis fund

"China, Japan and South Korea will provide 80 percent of the funds, with the rest coming from the 10 members of ASEAN, they said in a joint statement issued after talks on the sidelines of an Asian Development Bank meeting in Madrid.The 13 nations agreed after the 1997-98...

Asian bank in food crisis warning

Chief of  Asian Development Bank (ADB) has warned that  rising food prices could stall poverty eradication measures in poor countries. " The Asian Development Bank (ADB) has warned that the crisis of rising food prices could reverse gains made in...

Top 5 Mobile Phone Companies: How they are Doing?

"Did you know that of the top 5 mobile phone companies in the world now, 2.5 companies are from Asia? If you did not know this information then no problem."

Chinese build secret nuclear submarine base

China has secretly built a major underground nuclear submarine base that could threaten Asian countries and challenge American power in the region, it can be disclosed. Satellite imagery, passed to The Daily Telegraph, shows that a substantial harbour has been built which...