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” say crisis warnings unheeded
WASHINGTON, October 3, 2008 (AFP) – The so-called “doomsday” economists long derided by the mainstream say the current financial maelstrom was inevitable, but debate is still raging on how the US economy will emerge from the crisis. The analysts who had sounded warnings about economic imbalances for at least the past two years argue that […]
” state policies
OTTAWA, October 3, 2008 (AFP) – Canada’s Prime Minister Stephen Harper on Thursday blamed current US financial woes and its worldwide fallout on “irresponsible” policies. “The economic and financial mess in the US is disastrous and the policies have been irresponsible,” Harper said during a televised political debate ahead of an October 14 vote. His […]
Sri Lanka rupee up after opening on state intervention
Oct 02, 2008 (LBO) – The Sri Lanka rupee which opened at 108.20/35 against the greenback gained ground amid official intervention, with a state bank which usually acts for the central bank selling dollars at 108.00 rupees, dealers said. Meanwhile money markets remained tight with the overnight call rates at 19.00/19.50 percent levels and market […]
Sri Lanka port mulls hedging yen loans to avoid forex losses
Oct 02, 2008 (LBO) – The Sri Lanka Ports Authority (SLPA) is considering hedging its yen loans after suffering losses owing to currency fluctuations, its acting chairman Priyath Bandu Wickrema said. The SLPA is heavily overstaffed because successive governments have recruited supporters to gain votes. To receive instant alerts from LBO on your Dialog mobile […]
Sri Lanka shares hold their ground
Oct 02, 2008 (LBO) – Sri Lankan shares ended several days of falls to close marginally firmer Thursday but on very small volumes with investors still cautious owing to uncertainty in the global and local economy, brokers said. Lanka Cement closed up 25 cents at 11.25 with 124,100 shares traded. The company’s stock has been […]
Bows Out
Oct 02, 2008 (LBO) – Sri Lanka’s former finance ministry secretary P B Jayasundera, who resigned as chairman from national carrier Sri Lankan Airlines, says he will be taking a break before taking up any new assignments. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Jayasundera told […]
” opportunities
Oct 02, 2008 (LBO) – Growing consumer demand in Western markets for environmentally-friendly products provide new opportunities for Sri Lankan businesses, a European Union official said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The opportunities arise through increasing EU efforts to cut greenhouse gas emissions that […]
‘s north to get UN food
Oct 02, 2008 (LBO) – A convoy of 51 food trucks accompanied by United Nations officials Thursday left Sri Lanka’s northern Vavuniya town to areas further north that are held by the Tamil Tigers, a minister said. The trucks are carrying essential foods items such as rice, lentils and sugar. Relief minister Rishad Badurdeen said […]
Sri Lankan Airlines says turnaround strategy working
Oct 02, 2008 (LBO) – Sri Lankan Airlines has significantly reduced losses in July and August and is confident that the red ink can be contained for the rest of the financial year, its chief executive Manoj Gunawardena says. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 […]
Belgian customs seize record haul of fake pills, from India
BRUSSELS, October 2, 2008 (AFP) – Customs authorities at Brussels airport have seized over two million counterfeit medical pills from India which were bound for Africa, the biggest such seizure ever in Europe, officials said Thursday. Blister packs of the fake medications — copies of Tramal, a strong analgesic made by German pharmaceutical company Grunenthal, […]