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Sri Lankan troops move on Tiger capital
September 4, 2008 (AFP) – Government forces and Tamil separatists were locked in heavy combat in northern Sri Lanka with at least 26 rebels killed in fresh fighting, the defence ministry said Thursday. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Six soldiers were wounded and another […]
Sri Lanka demographic changes excites insurer
Sept 04, 2008 (LBO) – Demographic changes in emerging Asian nations like Sri Lanka and rising prosperity is presenting new growth opportunities for insurers to grow and introduce increasingly sophisticated products, a top regional insurance official said. But India and China are the big growth areas of the region. In the first half of 2008, […]
‘s inflation slows for second successive week
NEW DELHI, September 4, 2008 (AFP) – India’s inflation slowed for a second week in a row but remained far above the central bank’s tolerance level, data on Thursday showed.Annual inflation slipped to 12.34 percent for the week ended August 23 from 12.40 percent a week earlier, according to the Wholesale Price Index, India’s most-watched […]
Oil riches propel Abu Dhabi onto world map
DUBAI, September 4, 2008 (AFP) – Oil-rich Abu Dhabi, which this week boasted of taking over English football club Manchester City, is pumping billions of petrodollars into investments ranging from fine art to films to Formula One.Riding on windfalls from record high oil prices, the wealthiest of the United Arab Emirates’ seven members is starting […]
Euro, pound in trough in Asia ahead of rate decisions
TOKYO, September 4, 2008 (AFP) – The euro and pound languished in Asian trade Thursday but were off lows against the dollar ahead of central bank decisions in Europe, where economies are looking increasingly shaky, dealers said. The euro edged up to 1.4506 dollars in Tokyo morning trade after slipping to a seven-month low of […]
Oil prices at US$109 a barrel
LONDON, September 3, 2008 (AFP) – Oil prices closed modestly lower Wednesday as the market focused on demand amid a slowing global economy and signs that OPEC is under pressure to cut supply.New York’s main contract, light sweet crude for delivery in October, slipped 36 cents to close at 109.35 dollars a barrel after sliding […]
‘s conflict-hit and the poor under World Bank focus
Sept 04, 2008 (LBO) – The World Bank will help Sri Lanka build infrastructure and boost economic services to communities marginalized by an internal conflict and the poor, a top official has said at the conclusion of a visit to the island. “Sri Lanka clearly has so much potential which is being held back by […]
Sri Lanka to collect decades old taxes with new law
Sept 04, 2008 (LBO) – Sri Lanka would bring in a new law to collect taxes going back more than half a century from individuals, companies and corporations, a government official said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The new law which has already been […]
Sri Lanka Treasury bill yields fall
Sept 03, 2008 (LBO) – Sri Lanka’s Treasury bill yields fell at Wednesday’s auction with 6-month bills falling 26 basis points to 17.75 percent, and 12-month yields fell 10 basis points to 18.50 percent, the government’s debt office said. Three month bills were not offered. The debt office, which is a unit of the central […]
Sri Lanka shares weaken, Indian Oil unit gains as oil prices fall
Sept 03, 2008 (LBO) – Sri Lankan shares fell again Wednesday with the local unit of Indian Oil Corp (IOC) gaining as its earnings outlook improves on falling oil prices, brokers said. The indices were dragged down mainly by the fall in Dialog Telekom, which ended down 25 cents at 10.75 rupees with 314,100 shares […]