Burundi rebels return home for peace deal
16 May 2008 - Senior officials of Burundi's last holdout rebel group returned to the capital Bujumbura on Friday to begin implementing a delayed peace agreement, while the group's leader stayed behind in exile in Tanzania. A delegation of leaders of the Forces for National Liberation (FNL) landed at Bujumbura's international airport, where they were greeted by diplomats from the African Union and United Nations among others. (more)

Indonesia defence force is ready to help, not threaten, says defence minister
16 May 2008 - Indonesia does not need to build up a large and threatening military, and is more concerned with equipping itself better to respond to natural and man-made disasters, the defence minister said on Thursday. (more)

Philippine government, rebels hold Norway peace talks
16 May 2008 - The Philippine government and the rebel National Democratic Front (NDF) met in Norway for informal peace talks on 13 - 15 May, the first such meeting in almost three years, Norwegian diplomats said on Thursday. The secret talks, which were requested by both sides, were the first meeting between the negotiating panels since August 2005, the ministry said. (more)

Standard and Poors sees good Africa growth
16 May 2008 - High commodity prices and greater economic stability will sustain sub-Saharan Africa growth and render it relatively immune to a global slowdown, ratings agency Standard and Poor's said on Thursday. The agency, which rates 13 sub-Saharan African countries, said it expected prices to remain relatively high on Asian demand. (more)

Taiwan's new President means business - from China
16 May 2008 - A thaw in relations between Taiwan and China over the past decades has led to heavy investment in China from Taiwan. Lured by a common language, lower labour costs, and a potentially huge consumer market, investors have poured an estimated $100 billion into the mainland. President-elect Ma Ying-jeou, who won by a landslide election victory in March on an economic revitalization platform, is pledging to put in place direct weekend Taiwan-China flights by July and allow up to 3,000 Chinese tourists in per day. The tourism deal would open Taiwan to 1.1 million Chinese tourists per year and launch regular cross-strait flights, helping to jump-start the service sector. (more)

Thailand stocks hit a six-month high as most Southeast Asian stocks rose on Friday
16 May 2008 - Most Southeast Asian stocks rose on Friday with Thailand hitting a six-month peak, and Singapore a one-week high, on gains in property stocks such as Land and Houses and City Developments. Singapore's benchmark Straits Times Index rose 1.06, Thailand rose 1.72 per cent, Indonesian stocks gained 0.78 per cent while Philippine shares edged up 0.06 per cent. Malaysian shares were up 0.5 per cent. (more)

United Kingdom: Ancient Rama epic pictures on display for public to appreciate for first time
16 May 2008 - Nearly 120 ancient paintings charting the life, struggles, and eventual triumph of the legendary Indian King Rama go on show to the public on Friday for the first time at the British Library in London, England. The highly detailed and lavishly illustrated pictures which date from the 17th century were formerly bound together in book form and available only for scholarly study. Originally comprising 400 paintings and 24,000 verses of text in Sanskrit, the pictures were bound in seven volumes of which the British Library has four and a half. The paintings, which originate in the Rajput court of Rajasthan have been removed from the bound volumes for conservation reasons. (more)

United States: Housing posts surprising rebound in April
16 May 2008 - Construction of new homes posted the biggest increase in more than two years in April, a rare spot of good news in housing. The Commerce Department reported Friday that housing construction rose by 8.2 per cent in April to a seasonally adjusted annual rate of 1.03 million units. The growth came from a big jump in apartment construction. Applications for building permits, considered a good sign of future activity, also recorded an increase in April, rising by 4.9 per cent to 978,000 units. It was the first gain in permits in five months. (more)