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Sri Lanka steels for bloodier battles as monsoon rains set in
September 7, 2008 (AFP) – Sri Lankan troops have moved closer to dismantling the Tamil Tigers’ de facto state after months of heavy clashes with the rebels, but the battles ahead could be even bloodier, officials and analysts say.Monsoon rains expected to intensify in the coming weeks could bog down tanks and make artillery less […]
McCain backs government takeover of mortgage giants
ALBUQUERQUE, September 6, 2008 (AFP) – Republican presidential hopeful John McCain backed a government takeover of two mortgage giants Saturday while his Democratic rival warned that taxpayers should not bail out their shareholders. Asked whether Freddie Mac and Fanny Mae — which underwrite millions of US mortgages — should be placed in a conservatorship, McCain […]
White House race a cliffhanger as home stretch looms
WASHINGTON, September 7, 2008 (AFP) – The historic, twisting, cliffhanger White House race is swinging into an eight-week sprint to the finish, with John McCain and Barack Obama locked up in the polls and bare knuckle-rhetoric flying. Whatever happens, the face of American politics is about to be remade. Democrat Obama, 47, would be the […]
‘s inflation tops 27-pct
TEHRAN, September 7, 2008 (AFP) – Iran’s inflation hit 27.6 percent in the calendar month of Mordad that ended August 21, the central bank said Sunday, as Iranians were again battered by rising prices of basic foodstuffs and goods. The consumer price index (CPI) in urban areas increased by 27.6 percent compared to the same […]
Sri Lanka says another 24 Tigers killed in new fighting
September 6, 2008 (AFP) – At least 24 Tamil Tigers were killed in fresh fighting as Sri Lankan troops struggled to dismantle the guerrillas’ mini-state in the island’s embattled north, the government said Saturday.The rebels were killed Friday in three separate battle areas, the defence ministry said in a statement, adding that one government trooper […]
Fighting inflation best way to deal with financial crisis: ECB chief
FRANKFURT, September 5, 2008 (AFP) – A monetary policy based on fighting inflation is the European Central Bank’s best weapon against volatile commodity prices and the ongoing financial crisis, ECB president Jean-Claude Trichet said on Friday.“We are committed to deliver price stability and will do what’s necessary to deliver price stability,” Trichet told a conference […]
”’ inflation in new trouble, as Thailand dumps core
Sept 06, 2008 (LBO) – Sri Lanka’s ‘core’ inflation index, which is claimed to be responsive to central bank action, continued to edge up in August, even as ‘headline’ inflation fell amidst tight policy, and Thailand got ready to scrap core inflation targeting.A statement from the statistics unit of Sri Lanka’s central bank said a […]
Sri Lanka shares barely changed, heavy trading in Indian Oil unit
Sept 05, 2008 (LBO) – Sri Lankan share indices closed barely changed with heavy trading seen in LIOC, the local unit of Indian Oil Corp., as its earnings outlook improves on falling oil prices, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share […]
Upgrade Plan
Sept 05, 2008 (LBO) – The Sri Lanka Ports Authority plans to upgrade an aging bunker fuel storage facility it is taking over from a private firm, senior officials said. The SLPA’s approach will be to have cost-based tariff to encourage the facility’s use by suppliers and ensure greater competition in the supply of ship […]
Bigger Chunk
Sept 05, 2008 (LBO) – Sri Lanka’s John Keells Holdings has raised its stake in South Asia Gateway Terminals (SAGT) to 37.97 percent by acquiring a 4.22 percent tranche from the Asian Development Bank (ADB). JKH said it had paid 4.41 million US dollars (475 million Sri Lanka rupees) when ADB exercised a put option […]