All Blogs
Recession stalks shrinking eurozone economy
BRUSSELS, August 14, 2008 (AFP) – The eurozone economy contracted for the first time ever, with output falling 0.2 percent in the second quarter increasing the threat of recession driven by a sharp global downturn. The initial official figures come amid rising concern that recession, two consecutive quarters of contraction, is now stalking the 15-nation […]
‘s expects inflation to fall to 6.0-pct as commodity bubble bursts
SHANGHAI, August 14, 2008 (AFP) – China’s consumer inflation is expected to continue to slow in the rest of this year and in 2009 as global commodity prices ease, Chinese state media reported Thursday.China’s consumer price inflation fell to 6.3 percent in July, off from a nearly 12-year high of 8.7 percent hit in February […]
Vietnam aiming for seven to eight pct growth: state media
HANOI, August 14, 2008 (AFP) – The Vietnamese government has targeted economic growth of seven to eight percent in 2009 and aims to win its fight against soaring inflation, state media said Thursday.Prime Minister Nguyen Tan Dung on Wednesday asked officials to draw up a plan to achieve the growth objective, and to bring inflation […]
Oil prices up at US$113 after US inventory report
NEW YORK, August 13, 2008 (AFP) – Oil prices rallied Wednesday after a weekly US government snapshot showed a surprisingly sharp drop in gasoline stockpiles amid the peak demand season. Oil prices bounced back strongly after sliding to four-month lows Tuesday after Russia announced the end of military operations in Georgia and as the International […]
India have to be positive against Mendis, says Dhoni
August 14, 2008 (AFP) – India captain Mahendra Singh Dhoni said his batsmen needed to be positive against Sri Lanka’s latest spin sensation Ajantha Mendis in the upcoming one-day series.“He (Mendis) is a bit different and the batsmen need some time to settle in. We have to be positive, but ultimately it comes down to […]
Sri Lanka stocks almost flat
Aug 13, 2008 (LBO) – Sri Lankan stocks remained virtually flat Wednesday while retail activity intensified on certain counters on speculative trading, brokers said. The All Share Price Index closed 0.17 percent (4.05 points) higher at 2,451.23 while the more liquid Milanka fell 0.33 percent (9.69 points) to 2,884.58. Turnover was 293.95 million rupees with […]
Harbour Move
Aug 13, 2008 (LBO) – The chairman of the Sri Lanka Ports Authority (SLPA) Saliya Wickramasuriya has been asked to resign, Sri Lanka’s ports and aviation minister Chamal Rajapaksa said. Shipping lines complain of delays in navigation because of the closure of the port’s northern entrance owing to security concerns. They also complain of delays […]
Sri Lanka tea exporters want more money for marketing
Aug 13, 2008 (LBO) – Sri Lankan tea exporters have called for more money to be spent to promote and market Ceylon tea and develop local brands.Tea exporters association chairman Jayantha Keragala said a greater part of the funds collected from the four rupees per kilo tea export cess should be allocated to exporters. If […]
Low Tones
Aug 13, 2008 (LBO) – Profits at Sri Lanka’s Dialog Telekom group, a unit of Telekom Malaysia, fell 78 percent in the June 2008 quarter to 537 million rupees, according to interim accounts filed with Colombo Stock Exchange. The unit had lost 196.4 million for the six months, down from 349 million rupees for the […]
Britain facing increased risk of recession: BoE governor
LONDON, August 13, 2008 (AFP) – The head of the Bank of England forecast on Wednesday that Britain faced increased risk of recession with economic growth set to slow further and inflation expected to spike.“It is bound to be the case there will be a quarter or two of negative growth,” BoE governor Mervyn King […]