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Port Race
Sept 16, 2008 (LBO) – Sri Lanka is hoping to call fresh bids for a container terminal concession in an expanded port in Colombo in October, a government minister said, after an earlier bidding round was abandoned partway through the process. A breakwater to expand Colombo port is now being built with Asian Development Bank […]
Bus bomb explodes in Sri Lanka capital
Sept 16, 2008 (LBO) – A bomb placed in a commuter bus in Sri Lanka’s capital Colombo exploded after vigilant passengers discovered a suspicious parcel and got off the bus, police said.The bus was passing through the capital’s plush Colombo 7 district, when the bomb was discovered. Passengers had dis-embarked when the bomb went off, […]
British inflation spikes to 4.7 percent in August
LONDON, September 16, 2008 (AFP) – British 12-month inflation hit a fresh 16-year high of 4.7 percent in August on the back of soaring domestic energy bills, official data showed. Britain’s economy experienced zero percent gross domestic product (GDP) growth in the second quarter, which was the country’s weakest performance for 16 years. Despite the […]
Commodity bubble deflation eases US inflation index
WASHINGTON, September 16, 2008 (AFP) – US consumer prices dropped 0.1 percent in August as falling energy costs eased inflation pressures, government data showed Tuesday. The softer inflation came as welcome news for an economy battered by a credit crunch and real estate woes, analysts said. Some said it could make it easier for the […]
AIG gets lifeline as shares go into free fall
NEW YORK, September 15, 2008 (AFP) – Struggling US insurance giant American International Group was thrown a life-line Monday by New York authorities, who said the company could borrow some 20 billion dollars from its subsidiaries. New York Governor David Paterson said he had called on regulators “to provide the authorization, such that AIG can […]
Bank of Japan prints 1.5 trillion yen to grease markets
TOKYO, September 16, 2008 (AFP) – The Bank of Japan on Tuesday injected 1.5 trillion yen (14.4 billion dollars) into money markets in a bid to contain market turmoil after the collapse of US investment bank Lehman Brothers. The central bank said on its website that it injected the sum onto the open markets at […]
Sri Lanka to debate troubled state airline, public officer: lawmaker
Sept 16, 2008 (LBO) – Sri Lanka’s parliament will debate the issues of a state-run budget airline that has been eating up peoples’ money and a senior public official who was faulted by courts, an opposition lawmaker said. Jayasundera immediately offered to resign but the government has not accepted his resignation. Sri Lanka’s controversial Mihin […]
EU voices concerned over Sri Lanka violence
BRUSSELS, September 15, 2008 (AFP) – EU Humanitarian Aid Commissioner Louis Michel on Monday expressed “grave concern” at the escalation of violence in Sri Lanka and called for human rights laws to be respected. Civilians should also be guaranteed safe passage to leave the conflict area “and relocate in safer areas,” he added. “I’m deeply […]
Sri Lanka gets extra funds for roads, education, housing: World Bank
Sept 09, 2008 (LBO) – The World Bank has inked deals worth 151 million dollars to lend extra money for road, education and housing reconstruction in conflict-hit areas of Sri Lanka, the multilateral lender said.World Bank country chief Naoko Ishii said the additional financing will support the growth of infrastructure in lagging regions, the return […]
Sri Lanka to get more concessionary funds: ADB
Sept 16, 2008 (LBO) – Sri Lanka would get more than 200 million US dollars a year from the Asian Development Bank (ADB) over the next three years and the country would get more money from its concessionary window, an official said. The ADB’s country partnership strategy, which outlines its lending program for the island […]