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Sri Lanka jails 305 military deserters
September 2, 2008 (AFP) – Sri Lanka’s military on Tuesday ordered the jailing of 305 army deserters who failed to return to their units during an amnesty period, the defence ministry said.The men were sentenced to jail terms ranging from three months to one year following court martial proceedings, the ministry said. “Those deserters have […]
Sri Lankan troops capture key Tamil Tiger town: ministry
September 2, 2008 (AFP) – Sri Lankan forces have captured the key town and Tamil Tiger bastion of Mallavi in the north of the island following heavy fighting that killed 37 people, the defence ministry said Tuesday. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Security forces […]
Philippine corporate profits fall: study
MANILA, September 2, 2008 (AFP) – Soaring inflation contributed to a 4.3-percent fall in profits at listed Philippine firms over the three months to March, a stock exchange study said Tuesday.The fall against the same quarter last year pushed profits among the 221 companies down to 66.68 billion pesos (1.46 billion dollars), according to the […]
GM opens second plant in western India
MUMBAI, September 2, 2008 (AFP) – US-based auto giant General Motors opened its second plant in western India on Tuesday that will nearly triple annual production capacity to 225,000 vehicles a year. The company said it had invested 300 million dollars in the new factory in Talegaon, near Pune city, 160 kilometers (100 miles) southeast […]
Oil prices at 105 dollars, as commodity and credit bubble deflates
LONDON, September 2, 2008 (AFP) – Oil prices dived under 105 dollars on Tuesday, reaching four-month lows, after Hurricane Gustav spared key energy facilities in the Gulf of Mexico and the US currency strengthened, analysts said. “Hurricane Gustav weakened once it reached the US Gulf Coast, putting pressure on the energy market,” said Andrey Kryuchenkov, […]
Brazil starts to tap deepwater oil field
RIO DE JANEIRO, September 1, 2008 (AFP) – Brazil will on Tuesday start to tap a deepwater offshore oil field that could presage how difficult it will be to pump reserves in vast new fields located even farther out to sea. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ […]
Kuwait gives illegal expats six-week amnesty
KUWAIT CITY, Sept 02, 2008 (AFP) – Kuwait has granted illegal foreign residents a six-week amnesty to legalise their status or leave the oil-rich emirate without paying a fine. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to 678 In a decree cited by the official KUNA […]
Sri Lanka to sell US dollar bonds
Sept 01, 2008 (LBI) – Sri Lanka will sell 70 million dollars of 2-year bonds which pays interest every six months, on an auction basis for which subscriptions will open on September 08, the government’s debt office said. A 70 million US dollar ‘Sri Lanka Development Bond’ tranche is maturing on September 22, which will […]
Sri Lanka shares becalmed, investors chase Bogala Graphite
Sept 01, 2008 (LBO) – Sri Lankan shares ended hardly changed Monday with retail investors who had been playing with property stocks turning their attention to Bogala Graphite, diving its price up sharply, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price […]
Land Use
Sept 01, 2008 (LBO) – Colombo port could reclaim land in shallow waters near the Sri Lankan capital city for industry and move containers by rail to avoid congestion as it expands the harbour, an expert says.The government has started building or plans several new roads to connect Colombo to other big towns as well […]