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Executive Skills
Oct 14, 2008 (LBO) – Sri Lanka’s first-ever reality television game show, Path Breakers, is to modify its format and concept this year to accommodate 50 school goers to hone their corporate skills for the future. The show has loosened the entry criteria, dropping the minimum age of entry to 15 years to give the […]
Dozens dead in latest Sri Lanka fighting
COLOMBO, October 14, 2008 (AFP) – The Sri Lankan army said Tuesday it has killed 38 Tamil Tiger rebels involved in a fierce counter-attack in the island’s war-torn north. The defence ministry said its troops fought pitched battles and beat back rebel assaults along several fronts in the north on Monday. It said three government […]
Sri Lanka apparel industry says it helped uplift village economy
Oct 14, 2008 (LBO) – Sri Lanka’s apparel industry is aiming to increase export revenue despite tough market conditions, saying the spread of factories to rural areas has significantly raised living standards in villages.“Without this industry poverty would have been much higher,” said Ashraff Omar, a top exporter and member of the Joint Apparel Association […]
Reykjavik stocks show 76-pct fall but officials blame calculation quirk
REYKJAVIK, October 14, 2008 (AFP) – Trading resumed on the Reykjavik stock exchange Tuesday and the main index showed a decline of 76.13 percent, but market officials insisted this figure was heavily distorted by the absence of trading in finance companies. Excluding Iceland’s comatose financial stocks, which were suspended more than a week ago and […]
US to use 250 bln dlrs to buy bank shares
WASHINGTON, October 14, 2008 (AFP) – The US government will spend up to 250 billion dollars to buy shares in struggling banks in the latest effort to stem a global financial crisis, Treasury Secretary Henry Paulson said Tuesday.“Yet the alternative of leaving businesses and consumers without access to financing is totally unacceptable. When financing isn’t […]
Dubai leads Gulf stocks surge
KUWAIT CITY, October 14, 2008 (AFP) – Stocks in the booming Gulf emirate of Dubai leapt nine percent at the opening of trade on Tuesday, leading gains in the oil-rich Gulf as global markets made a spectacular surge. Abu Dhabi and Oman each jumped six percent, but the Kuwait Stock Exchange, the second largest Arab […]
Japan loosens share buy-back rules
TOKYO, October 14, 2008 (AFP) – Japan’s government on Tuesday announced measures aimed at stabilising the ailing stock market, including a loosening of restrictions on companies buying back their own shares.The moves helped to fuel a powerful rally on the Tokyo stock market, which soared more than 12 percent in early trade as investors cheered […]
Australia announces economic stimulus package
SYDNEY, October 14, 2008 (AFP) – Australian Prime Minister Kevin Rudd on Tuesday unveiled a 10.4 billion dollar (7.25 billion US) economic stimulus package to counter a slowdown caused by the global financial crisis. “The global financial crisis has entered into a new dangerous and damaging phase, one that goes to the real economy — […]
‘s old man Jayasuriya, newboy Mendis lead team to victory
TORONTO, October 13, 2008 (AFP) – Veteran Sanath Jayasuriya, with his trademark big-hitting, and newboy Ajantha Mendis, delving into his bag of bewildering spin tricks, led Sri Lanka to a five-wicket victory over Pakistan in the Canada Twenty20 final here on Monday.Chasing 133 to win, Sri Lanka registered their first win over Pakistan in the […]
US financial system headed to intensive care: Volcker
SINGAPORE, October 14, 2008 (AFP) – The US financial system is already in the emergency ward and will move into intensive care, Paul Volcker, former chairman of the US Federal Reserve, said in Singapore on Tuesday.“I’m afraid it’s going to be there for a considerable period of time before it returns to normal,” he said […]