adminIran warns region against stance on Hormuz
ANKARA —Iran’s foreign minister warned Arab neighbours yesterday not to put themselves in a “dangerous position” by aligning themselves too closely with the United States in the escalating dispute over Tehran’s nuclear activity.
Pakistan leader defends himself on contempt charges
Pakistan’s embattled prime minister yesterday defended himself against contempt charges before the Supreme Court, refusing to back down in a case that could see him disqualified from office if convicted.
It is only the second time that Pakistan’s highest court has initiated contempt proceedings against a sitting prime minister, plunging the weak government deeper into a crisis that could force early elections within months.
5 killed in southeast Africa floods
MAPUTO — Flooding in southeast Africa this week has killed at least five people, forced thousands to evacuate homes in Mozambique and led to an airlift of about 20 foreign tourists at South Africa’s flagship Kruger National Park, officials said yesterday.
2 000MW thermal power plant set for Binga
A French consortium granted a licence by the Government to set up a $3 billion thermal power plant in the country is finalising preparations to commence construction, a cabinet Minister has said.
‘Corruption stunts economic growth’
Business Reporter
CORRUPTION in all its forms is affecting economic growth due to poor corporate governance, State Enterprises and Parastatals Minister Gorden Moyo has said.
Farmers begin preps for tobacco marketing season
Business Reporter
TOBACCO farmers have started preparing for this year’s marketing season which starts mid-next month.
Greek debt default possible without market mayhem
LONDON — Europe still has a chance of safely shepherding Greece through an increasingly inevitable default and could restore faith that investors can protect themselves against governments not repaying debt.
Time is fast running out. Greece cannot pay a 14,5 billion euro (£12 billion) bond falling due on 20 March, and a deal with bondholders needs to come well before that, because the paperwork alone takes at least six weeks.
Obama rejects oil pipeline from Canada
US President Barack Obama has rejected the proposed Keystone XL oil pipeline from Canada, saying he could not vouch for its safety by a deadline, despite intense election-year pressure.
Kodak rolls into bankruptcy
Eastman Kodak, the US-based company which brought photography to the masses over a century ago, has filed for bankruptcy protection after years of failing to become a profitable seller of modern consumer products.
The 130-year-old photographic film pioneer said it had also obtained a $950m loan from Citigroup, the US financial firm, to help keep it going.
Murdoch company to pay hacking damages in 36 cases
LONDON — Rupert Murdoch’s British newspaper company yesterday agreed to pay damages to 36 high-profile victims of tabloid phone-hacking, including actor Jude Law, soccer player Ashley Cole and former British Deputy Prime Minister John Prescott.