All Blogs
Minnows dream of hogging limelight
SINGAPORE, July 31, 2008 (AFP) – Powerhouse nations like China, the United States and Russia might grab all the Olympic gold medal attention but the world’s sporting minnows plan to grab at least some of the limelight. While some nations might whinge about winning dozens of medals, others will be glad of just one — […]
Sri Lanka inflation slows to 26.6 percent in July
July 31, 2008 (LBO) – Sri Lanka consumer inflation in the capital Colombo slowed to 26.6 percent in July 2008 from a record 28.2 percent in June, the government’s statistics office said. High inflation has also made it more expensive for companies to borrow. In the month of July prices rose 0.2 percent compared with […]
Sri Lanka plantations stocks draw investor interest
July 30, 2008 (LBO) – Sri Lankan stocks closed higher Wednesday driven up by gains in stocks with a heavy weighting on the indices and some renewed interest seen in plantations. But brokers said the upward momentum could be short-lived as economic conditions remained difficult given record inflation and high borrowing costs for companies. The […]
Sri Lanka tea prices hit by collection fears
July 30, 2008 (LBO) – Prices of Sri Lankan low grown leafy grade teas fell sharply at this week’s Colombo auctions owing to fears that buyers may not be able to collect their purchases.Tea prices have been buoyed by good demand from traditional buyers like Russia and the Middle East oil exporting countries where consumers […]
Medical Perks
July 30, 2008 (LBO) – Sri Lanka’s health minister’s appointment to the World Health Organisation (WHO) could help channel more foreign funds to develop the health sector in the island, the association of private medical practitioners said. Nimal Siripala de Silva, minister of healthcare and nutrition, was appointed as the chairman of the WHO executive […]
” despite policy conflicts
July 30, 2008 (LBO) – A summit meeting of South Asian leaders this weekend is placing ‘food security’ high on its agenda with promises of more state intervention, officials said, despite recent state meddling that backfired on the region’s poor and farmers.Sri Lanka’s international trade minister G L Peiris told reporters that the time has […]
Japan foreign minister puts off South Asia trip
TOKYO, July 30, 2008 (AFP) – Japanese Foreign Minister Masahiko Komura has put off a visit to South Asia starting this weekend due to political uncertainties at home, the foreign ministry said Wednesday. Japan was arranging for Komura to visit India, Sri Lanka and Uzbekistan from Friday until August 8, said a foreign ministry official, […]
Sri Lanka suspends internal flights for security reasons
July 30, 2008 (LBO) – Sri Lankan authorities plan to suspend domestic flights to northern Jaffna later this week for the duration of a summit of south Asian leaders in Colombo, a senior government official said.Civil Aviation Authority director general Parakrama Dissanayake said flights by domestic carriers between Colombo and Jaffna have been suspended during […]
Sri Lanka Allianz unit enters life insurance market
July 30, 2008 (LBO) – Allianz Lanka, the Sri Lankan unit of Germany’s Allianz SE, said it has got the license to enter the largely untapped life insurance market where it sees much potential. The local subsidiary of Allianz has been increasing customers in both the corporate as well as retail market. The company recently […]
Fed extends emergency lending to investment firms
WASHINGTON, July 30, 2008 (AFP) – The Federal Reserve on Wednesday extended its emergency lending program to January 2009 for investment firms aimed at keeping credit flowing in the financial system.The Fed said it took the action “in light of continued fragile circumstances in financial markets” along with other steps to ease a global credit […]