VIDEO: Chinese buying French vineyards

VIDEO: Chinese buying French vineyards

VIDEO: Chinese buying French vineyards

Posted: 24 Oct 2011 08:39 PM PDT

The Chinese are developing a new taste for French wines, leading some Chinese investors to buy vineyards in France.


VIDEO: Cold night for Turkish survivors

Posted: 24 Oct 2011 09:55 PM PDT

Rescue teams in Turkey have been working through the night to find more survivors following Sunday's earthquake.


VIDEO: Thailand flood sanitation fears

Posted: 24 Oct 2011 08:45 PM PDT

Sanitation in Thailand is becoming an increasing concern for many people stuck in the areas worst affected by serious flooding.


China paper warns of ‘sound of cannons’ in sea disputes

Posted: 24 Oct 2011 08:27 PM PDT

BEIJING, Oct 25 — One of China's most popular newspapers warned today that nations involved in territorial disputes in the South China Sea should "mentally prepare for the sounds of cannons" if they remain at loggerheads with Beijing. The Global Times is published by Communist Party mouthpiece the People's Daily, but unlike that newspaper it is ...

Parliament rejects referendum on EU membership

Posted: 24 Oct 2011 08:18 PM PDT

LONDON, Oct 25 — Parliament rejected a call for a referendum on leaving the European Union yesterday, but a large-scale revolt against Prime Minister David Cameron hurt his authority and cast doubt on the country's long-term commitment to Europe. Around 80 members of Cameron's Conservative Party — more than a quarter of the total — defied their ...

US pulls out envoy from Syria over safety

Posted: 24 Oct 2011 07:17 PM PDT

AMMAN, Oct 25 — The United States said yesterday it had pulled its ambassador out of Syria because of threats to his safety, prompting Syria to follow suit in a deterioration of ties already battered over President Bashar al-Assad's crackdown against protesters. US envoy Robert Ford had antagonised Syria's government with his high-profile support ...

Yemen’s Saleh welcomes UN resolution on power shift

Posted: 24 Oct 2011 06:09 PM PDT

SANAA, Oct 25 ― Yemeni President Ali Abdullah Saleh, facing an increasingly entrenched uprising against his rule, yesterday welcomed a UN Security Council resolution urging him to sign a Gulf-mediated power transfer plan, the state news agency reported. It was Saleh's first response to the United Nations Security Council measure last week ...

Saudi Arabia to bury Prince Sultan

Posted: 24 Oct 2011 03:54 PM PDT

DUBAI, Oct 25 — The funeral of Saudi Arabia's Crown Prince Sultan today sets the stage for an eventual generational shift in the ageing leadership of the world's top oil exporter, even if King Abdullah picks 77-year-old Prince Nayef to succeed him. At stake is the direction of a US ally attempting to reconcile its conservative traditions with the ...

VIDEO: Jackson trial defence begins case

Posted: 24 Oct 2011 08:40 PM PDT

Lawyers defending Michael Jackson's personal physician have called their first witnesses following a four-week case from the prosecution.


VIDEO: 'Progress' in US-North Korea talks

Posted: 24 Oct 2011 07:02 PM PDT

US diplomats say the first day of talks aimed at restarting six-party talks regarding North Korea's nuclear programme have been useful.


VIDEO: Ennahda claims victory in Tunisia

Posted: 24 Oct 2011 06:48 PM PDT

On the strength of provisional results Tunisia's moderate Islamist party, Ennahda, has claimed victory in the country's first democratic elections.


US economy to end year in whimper: Survey

Posted: 24 Oct 2011 04:22 PM PDT

WASHINGTON: US business economists expect the economy to wind up the year with tepid two percent growth at best, according to a quarterly survey released on Monday that depicted turgid business conditions. Eighty-five percent of the economists expect 2011 gross domestic product (GDP) growth to come in at 2.0 percent or less. Meanwhile, 15 percent see growth lower than one percent for the year, "with 3 percent planning for an outright decline," the National Association for Business Economics said in its October survey report. In NABE's July survey, 76 percent of economists predicted growth would top two percent, and 23 percent were predicting a slower rate. The NABE survey gave a picture of duller business conditions, with few bright spots. The number of businesses reporting rising demand fell to 49 percent from 56 percent three months earlier. Profit margins improved slightly in the third quarter, NABE said, but only one-quarter of firms raised selling prices, down from about one-third in the prior quarter. Two-thirds of companies said they expect prices will not change in the next three months, but 14 percent expect prices to fall, compared with only 4 percent in the previous survey. The employment picture was also stagnating, with the overall outlook the worst since January 2010, NABE said. The number of businesses cutting their payrolls rose from 8 percent to 13 percent, while those adding employees dropped from 42 percent to 30 percent. The rest kept their workforces unchanged. Companies expecting to add employees in the next six months fell to a 29 percent share from 43 percent in July. Fifty-nine percent predict no change, while three percent plan "significant layoffs," up from a zero reading in July. The survey of 70 NABE members was conducted between September 20 and October 5. "Expectations are muted, but growth remains the base-case scenario," Shawn DuBravac, chief economist for the Consumer Electronics Association, said in the report. "Despite a narrowing of positive indicators, the majority of respondents remain cautiously confident." The NABE report came ahead of the US government's first estimate of GDP growth for the third quarter slated Thursday. Most analysts forecasted the world's largest economy grew at a 2.3 percent annual rate in the July-September period, following a 1.3 percent second-quarter pace. - AFP


Nissan eyes 1.5m electric cars by 2016

Posted: 24 Oct 2011 04:27 PM PDT

TOKYO: Japanese auto giant Nissan is aiming to sell 1.5 million electric vehicles around the world by 2016, the company said on Monday, as it looks to capitalise on growing demand for green products. Japan's second-largest automaker behind Toyota said it wants to be the world's largest player in so-called "zero-emission vehicles", including a new fuel cell electric vehicle developed with Daimler. The company, which is 43.8 percent owned by French partner Renault, has sold 15,000 Leaf electric cars, the only model it produces, but plans to add a further seven models across the group. "More consumers are demanding products in line with their values, including cars and trucks with a lower carbon footprint. At the same time, we are using technology to make our factories greener and more efficient," said Nissan President and Chief Executive Officer Carlos Ghosn. "Nissan wants to be part of the solution toward a sustainable society - for the sake of the planet and as a significant competitive advantage and a strategic differentiator in the global manufacturing sector." In addition to the target of 1.5 million electric vehicles, the company said it is also aiming for an average 35 percent improvement in fuel economy on 2005 figures for vehicles sold in Japan, China, Europe and the United States. Last month, Nissan said it was teaming up with US-based General Electric to explore ways to promote the use of electric vehicles. Japanese firms were hit hard by power and chronic parts supply shortages in the wake of March's earthquake and tsunami, with the likes of Nissan, Toyota and Honda having to sharply reduce production and shut plants due to a lack of crucial components. However, Nissan's recovery has outpaced its peers with global production in June growing 18.5 percent year-on-year to 419,831 units. Toyota and Honda declined by 7.9 percent and 44.5 percent respectively. Nissan sold a total of 1,056,000 vehicles globally in the first quarter of fiscal 2011, up 10.6 percent on-year. - AFP


Oracle buys 'cloud' service firm RightNow Tech

Posted: 24 Oct 2011 04:26 PM PDT

NEW YORK: Enterprise software giant Oracle said on Monday it had struck a deal to buy RightNow Technologies, which helps companies manage their cloud computing activities, for US$1.5 billion. The US$43 a share deal get Oracle a 14-year-old business which aims to make cloud computing work smoothly and efficiently for companies and their customers. Bozeman, Montana-based RightNow said it had served nearly 2,000 organisations around the world. Its most prominent product is its RightNow CX software, aimed at improving and enhancing the online experience of a company's customers. Oracle Development's executive vice president Thomas Kurian said the deal is part of Oracle's efforts to expand its cloud-computing services - which allow companies to make use of files and applications based on the provider's servers via the Internet, rather than on their own servers. "RightNow's leading customer-service cloud is a very important addition to Oracle's Public Cloud," Kurian said in a statement. RightNow's shares shot up 19.1 percent to US$42.85 after the announcement.- AFP


Toymaker Mattel to buy HIT Entertainment

Posted: 24 Oct 2011 04:24 PM PDT

NEW YORK: The world's leading toymaker Mattel announced on Monday it was purchasing HIT Entertainment, the maker of popular pre-school toys, for US$680 million in cash. HIT Entertainment, which owns the rights on popular including Thomas the Tank Engine, is owned by a consortium led by investment firm Apax Partners. HIT Entertainment has more than US$180 million of revenues and is one of the largest independent owners of preschool intellectual property. "Mattel is the right home for Thomas and Friends," said Mattel chairman and chief executive officer Robert Eckert. "This transaction will marry Mattel's global marketing, distribution and brand management capabilities with HIT Entertainment's global programming and licensing expertise to accelerate growth of the combined portfolio," he said in a statement. Aside from the popular Thomas train brand, HIT owns popular pre-school brands that include Barney, Bob the Builder, Angelina Ballerina and Fireman Sam. Mattel owns such popular brands as Barbie, Hot Wheels, Fisher-Price and the American Girl. Jeffrey Dunn, president and chief executive officer of HIT Entertainment, welcomed the purchase. "It is fitting that the world's premier toy company should become the owner of the world's premier pre-school property," he said. Mattel currently markets many Thomas and Friends toy products under a licence that extends through 2014. Its global sales of Thomas and Friends toys are more than US$150 million, the company said. The purchase however does not include HIT Entertainment's interest in the cable network station, Sprout, HIT said. The transaction is expected to close in the first quarter of 2012. -- AFP


Tunisia's Islamist party Ennahda wins polls

Posted: 24 Oct 2011 04:40 PM PDT

TUNIS, Oct 25: Ennahda led by Rachid Ghannouchi has won the Tunisian elections according to its opponents. Full results were not due to be announced by the independent election commission ISIE until Tuesday, but leader of the Progressive Democrats (PDP) has conceded defeat.


Turkey quake kills at least 279, hundreds missing

Posted: 24 Oct 2011 03:55 PM PDT

ERCIS, Oct 25 ― Rescuers searched the rubble of collapsed buildings yesterday for survivors and victims of a major earthquake that killed at least 279 people and injured more than 1,300 in mainly Kurdish southeast Turkey. Rescue and relief efforts focussed on the city of Van and the town of Ercis, 100km to the north, but hundreds were also ...

VIDEO: Turkey quake: Family hunt for missing brother

Posted: 24 Oct 2011 11:14 AM PDT

Rescue teams in Turkey have managed to pull more people alive from the rubble after the strong earthquake that hit the east of the country on Sunday.


Libya ‘liberated’, but Gaddafi still unburied

Posted: 24 Oct 2011 08:50 AM PDT

MISRATA, Oct 24 — A day after Libyans declared a "liberation" that consigned Muammar Gaddafi to the "garbage bin of history", hundreds again filed past his rotting corpse in a grim display that has raised questions about the nation's new direction. With their Western allies expressing quiet unease that Gaddafi was battered and shot after his ...

Gazans sign up for jobs in post-Gaddafi Libya

Posted: 24 Oct 2011 08:19 AM PDT

GAZA, Oct 24 — Some 5,000 unemployed Palestinians have registered over the past week at a Gaza trade union office for jobs they hope will materialise in post-Gaddafi Libya, local labour officials said today. UN figures put unemployment in the Gaza Strip, a sliver of territory run by the Islamist group Hamas and blockaded by Israel, at 45 per ...

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