Business

Former Thai Prime Minister Thaksin Shinawatra arrived today in Cambodia where he will take up a post as the government's economic advisor. The appointment has caused a diplomatic incident between the two countries, as Shinawatra was condemned to two years in jail in absentia for corruption. Tension is already mounting, with the Thai government expressing both anger and embarrassment over the appointment. They have withdrawn their ambassador and have decided to cancel plans with the Cambodian government for trade and oil exploration. This comes

Pakistani police said today that a suicide bomber in a rickshaw has killed three people in Peshawar, a day after another suicide bomber killed thirteen people in a crowded market outside the northwestern city. Police say the suicide bomber detonated his explosives at a checkpoint on a frequently traveled road that runs around Peshawar. Officials say a constable, a passerby, and the rickshaw driver were among the dead. The blast wounded five other people. According to a senior local police officer, the attacker was probably intending to detona

Pakistani officials have said that a suicide bomber struck a crowded market today in northwest Pakistan, killing an anti-Taliban mayor. At least eleven other people were killed in the blast, and dozens were wounded. Initially, Mayor Abdul Malik was reported to have survived the attack in the Matni area on the outskirts of the city of Peshawar. The market was crowded with shoppers ahead of the Muslim festival of Eid. Officials said that Malik, a former Taliban supporter, had switched sides and raised a militia to fight the Taliban. He had surv

China has offered Africa concessional loans worth billion as part of a host of new measures aimed at improving the economy of African nations. The announcement was made at the opening of the Forum on China-Africa Cooperation (FOCAC) in Sharm el-Sheikh, Egypt. Leaders of nearly 50 African countries are attending the two-day conference. China had already stated today at the 3rd Conference of Chinese and African Entrepreneurs, held immediately before the FOCAC, that Chinese firms would be encouraged to invest in Africa, while both sides would w

Thousands of workers in South Korea have staged protests to demonstrate against plans by the government to alter the labour laws in the country. According to Federation of Korean Trade Unions (FKTU) figures, up to 150,000 people attended the protests, held on Saturday in the capital of Seoul, although the police estimated the smaller figure of 60,000. Under the government's new plans, it will start enforcing laws in 2010 to stop companies from giving wages to full-time representatives of unions, and will allow multiple unions for each individ

According to the United Nations, the Ethiopian gross domestic product (GDP) for 2009 increased by 1.7%. UN Deputy Secretary-General Asha-Rose Migiro said that the country might not be able to meet its 2015 anti-poverty goals due to the worldwide economic slowdown. "Despite some notable achievements, progress is off track across the continent," Migiro said in the capital of Addis Ababa. She said Ethiopia's economy increased by about five percent between 2000 and 2008, but slowed down due to the ongoing global recession. "Progress towards the M

The government of Saudi Arabia removed an eleven-year ban on livestock imports from Somalia after fears of Rift Valley Fever were allayed, senior Somali officials said on Thursday. The decision was well received across Somalia, as hundreds of thousands of farmers heavily rely on animal exports to the oil-rich Middle East. Under the new arrangement, Saudi officials will closely examine animals before they are shipped off to Saudi soil. "This is a tremendous decision for Somalis across the Horn of Africa," said Idiris Ibrahim Abdi, the livestoc

A 1965 Volkswagen minibus that was stolen in 1974 has been recovered by customs agents in Los Angeles. The vintage minibus was in pristine condition, valued at $25,000, and was found during a routine inspection of a shipping container scheduled for departure to The Netherlands. A routine computer database search on its vehicle identification number flagged it as having been stolen from a vehicle upholstery shop in Spokane, Washington on July 12, 1974. A custom restoration business in Arizona was attempting to deliver it to overseas clients l

A warship built with steel from the World Trade Center is set to enter New York and travel up the Hudson River to the site of Ground Zero. 7.5 tons of steel from the buildings have been used in the construction of the USS New York. When the ship reaches Ground Zero it will fire a 21-gun salute. The ceremony will be viewed by relatives of those who lost their life during the September 11 attacks as well as rescuers and the public. The official commissioning ceremony takes place on Saturday. The crest of the ship features the images of the Tw

A suicide bomber has killed at least 24 people near the Pakistani army headquarters in Rawalpindi when he detonated explosives while riding on a motorbike outside a bank, several hundred metres away from army headquarters. Gunmen had kept up a 24-hour hostage-taking assault last month at those same headquarters. Many people, such as retired and serving military officials, civilians, had come to the bank to collect their salaries, were killed or wounded by the blast. Many hospitals declared emergency services and rushed to help the people out.

Iraqi police have said that four bombs killed at least eight people and wounded more than 50 others on Sunday. Police said a bomb attached to a bicycle exploded in a popular market in the town of Mussayab, about 60 kilometers (38 miles) south of the capital of Baghdad. The blast killed at least five people and wounded 37 others. Meanwhile, police in Ramadi, 100 kilometers (32 miles) west of the capital, reported that two bombs exploded minutes apart, killing two and wounding four others. A fourth bomb attached to a bus detonated as it appro

Eleven people are dead after a military cargo jet crashed in Siberia. The strategic airlifter, which belonged to Russia's Interior Ministry, came down shortly after takeoff in Mirny. There were no survivors. No-one on the ground was injured by the Ilyushin Il-76, which lost control after it failed to gain altitude, banking hard to the right before hitting the ground two kilometers away near a disused mine. The plane did not achieve a height of beyond 20–30 meters. The aircraft had been headed to Irkutsk and was being operated by interior tro