China  (9 May 2008, China Daily Online)
The producer price index (PPI) for China's industrial products rose 8.1 percent in April over the same month last year, putting more pressure on the nation's inflation rate, the National Bureau of Statistics said on Friday. The factory-gate prices of raw materials, fuel and power were up 11.8 percent. The NBS said the rise in the PPI, which measures the value of finished products when they leave the factory, was only 2.4 percent as recently as August last year, indicating intensifying inflationary pressure. Higher ex-factory prices are likely to lead to rising consumer prices, as producers pass on their own rising costs to customers. China's CPI was up 8.3 percent in March, following an 8.7 percent rise in February. China has set an annual CPI target of 4.8 percent this year.

Georgia  (9 May 2008, CNN Online)
Russia's Defence Ministry said on Thursday that it could further increase its peacekeeping forces in the breakaway Georgian region of Abkhazia, where the threat of renewed fighting has raised alarm internationally. Georgian President Mikhail Saakashvili says the threat of war with Russia remains high, and the possibility of open conflict is very real. Western-leaning Georgia and breakaway Abkhazia are at the centre of a struggle between Moscow and the West for influence in the strategically important South Caucasus. As Georgia pushes for NATO membership and tries to draw closer to the United States, tensions have grown dramatically in recent months. Russian peacekeepers, which have served in Abkhazia since the region broke away from Georgian control in the 1990s, are an irritant in relations between Moscow and Georgia. A recent increase in Russian forces has drawn criticism from the US and European Union.

Global  (9 May 2008, International Herald Tribune Online)
After months of startling increases, the prices of rice, wheat, soybeans and several other foods have come down recently, a development that could ease some of the panic in global food markets. Prices remain volatile and remarkably high by historical standards, and few agricultural experts expect the days of inexpensive food to return soon. Still, any price decline is welcome news for many countries, particularly those heavily dependent on imported rice. The spot price of rice from Thailand has dropped by close to 20 percent in the last two weeks after nearly tripling in the first four months of this year. Similarly, despite jumps in the last few days, contracts for future delivery of American wheat and soybeans are down markedly from their highs in March - by 34 percent in the case of wheat.

Lebanon  (9 May 2008, International Herald Tribune Online)
Fierce clashes escalated in Beirut on Thursday between Sunni supporters of the government and loyalists of Hezbollah, the Shiite militant group, after Hezbollah's leader said the government had declared war by threatening to shut down the group's private telephone network. The comments by Sheik Hassan Nasrallah, the leader of Hezbollah, were the strongest since Lebanon's political crisis began 17 months ago. At least eleven people have died in the recent violence and there are reports that Hezbollah has taken full control of West Beirut. The developments could signal a new level of confrontation between Hezbollah, which is supported by Iran and Syria, and the government of Prime Minister Fouad Siniora, which is backed by the West and Saudi Arabia. The standoff has left the country without a president since November.

Myanmar  (9 May 2008, Reuters Online)
Myanmar will accept foreign aid but not foreign aid workers, the foreign ministry said on Friday, after a rescue team from Qatar that arrived in Yangon on an aid flight was turned back. "At present Myanmar is giving priority to receiving relief aid and distributing them to the storm-hit regions with its own resources," a government statement said. Frustration is mounting over Myanmar's generally feeble response to one of its worst disasters in memory and particularly the delays in giving visas to aid workers and landing rights for relief flights. Survivors have been mostly fending for themselves in the swampy delta after Cyclone Nargis packing winds of up to 190 kph (120 mph) whipped up a massive wall of sea-water that hurtled through the low-lying Irrawaddy delta. At least 22,000 people were killed and over a million left homeless.

Nigeria  (9 May 2008, China Daily Online)
Three Chinese workers were abducted by unidentified kidnappers on Tuesday in Calabar, the capital of Nigeria's southern Cross River State. The workers, all employees of China Civil Engineering Construction Corporation, were seized near the company's compound in Calabar, according to a company official. The abduction reportedly took place mid-afternoon when the three workers were driving to their accommodation. The company, with the help of local police, is reported to be in touch with the kidnappers, who have demanded a ransom, and negotiations are underway.

USA  (9 May 2008, FT Online)
US shoppers continued to veer towards cheaper stores and essential goods and away from discretionary items in April but brought some relief for retailers after a poor start to the year. Same-store sales, a key retail measure of sales in stores open at least a year, rose by 3.3 per cent against expectations of a 1.1 per cent rise according to Retail Metrics, which analyses shopping trends. The rise suggested a better period for shops after weaker sales over the past few months, but still pointed to a consumer who is contending with record oil bills and falling home prices.