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WTO talks enter tense endgame: officials
GENEVA, July 28, 2008 (AFP) – Talks to forge a new global trade pact teetered on the brink of collapse Tuesday as the World Trade Organization said the mood was “very tense” and major powers blamed each other for the deadlock.“The situation is very tense, things are finely balanced and the outcome is by no […]
”s den
GALLE, July 29, 2008 (AFP) – India’s batting reputation will be at stake when they attempt to solve Sri Lanka’s spin puzzle in the second Test starting here on Thursday.The tourists collapsed twice in the opening match of the three-Test series in Colombo, losing by an innings and 239 runs on Saturday. Sri Lankan spinners […]
Under-achievers India hope to turn the corner
NEW DELHI, July 29, 2008 (AFP) – India travel to the Olympics without their trademark field hockey team, but determined to prove they will not compete at Beijing just to make up the numbers. The hockey stars, India’s flag-bearers at past Olympics despite winning the last of their eight gold medals way back in 1980, […]
Regional rivals to meet in Sri Lanka as Indo-Pak peace process hits bad times
July 29, 2008 (AFP) – The leaders of South Asian rivals India and Pakistan are to meet in Sri Lanka this week for their highest-level talks in 15 months and to see if they can hold together their embattled peace process. Relations between New Delhi and Islamabad, who have fought three wars since partition in […]
Sri Lanka Treasury Secretary asked not to resign
July 29, 2008 (LBO) – Sri Lanka’s Treasury Secretary P B Jayasundera, who submitted his resignation to President Mahinda Rajapaksa after a court order faulted him over a privatization deal, has been asked to continue in his position.The court said Jayasundera had acted in collusion with the current JKH chairman, Susantha Ratnayake, a director of […]
Rising inflation underscores Central Bank impotence: IMF
July 29, 2008 (LBO) – Rising inflation has made it difficult for mature market central banks to print their way out of the credit crisis, and emerging markets that continue to print money may find investors shunning them, the International Monetary Fund has said.In an update to its Global Financial Stability Report IMF said the […]
Sri Lanka stocks perk up as control of AMW changes hands
July 28, 2008 (LBO) – Sri Lankan stocks closed higher Monday on gains in heavyweight stocks with the take over of Associated Motorways (AMW) by a Dubai construction firm driving turnover to 7.7 billion rupees. JKH, AEC and state funds which owned AWM stakes sold at a premium. “Any premium would be considered quite advantageous […]
Combined Entity
July 28, 2008 LBO) – Sri Lanka’s finance ministry plans to bring a proposed new law to amalgamate six regional development banks (RDBs) to parliament early next month, a senior official says. The main stake holders of the banks last week gave the green light to the proposed act which is now being examined by […]
Sri Lanka pepper trade calls for end to Indian restrictions
July 28, 2008 (LBO) – Sri Lanka’s pepper trade has demanded an end to import restrictions imposed by India that they say violates the spirit of a free trade accord between the two countries.The call was made by Gulam Chatoor, a former chairman of the Spices and Allied Products Association, on the eve of a […]
Malaysia to tries to reflate bursting palm oil bubble: report
KUALA LUMPUR, July 27, 2008 (AFP) – Malaysia will put in place a series of measures to stabilise plummeting global palm oil prices including selling off crude stocks, a report said Sunday.Peter Chin, minister of plantation industries and commodities, told the Sunday Star newspaper the government wanted to make sure that the almost 25-percent drop […]