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Sri Lanka acts to reduce air pollution
July 15, 2008 (LBO) – Sri Lanka’s environmental and transport ministries have made it compulsory for all vehicles to acquire vehicle emission test (VET) certificates to be eligible for revenue licenses. Two companies, CleanCo Lanka and Laugfs Eco Sri Lanka opened emission test centres Tuesday to launch the air pollution reduction scheme. Every vehicle must […]
Central Bank chief takes over as Maldivian finance minister
July 15, 2008 (LBO) – Maldivian government Tuesday appointed the central bank chief Abdullah Jihad as the new minister of finance, the atoll’s information minister said. Until his appointment, Mausoom was the head of the country’s tourism promotion board. Shougee has now been appointed as the Vice Chancellor of the state-run university to be set […]
Sri Lanka electricity utility gives Siemens deal to upgrade distribution
July 15, 2008 (LBO) – Sri Lanka’s state power utility, Ceylon Electricity Board (CEB), has given Siemens Energy a 5,309 million rupee (31 million Euro) contract to modernize and expand the medium-voltage distribution network of the capital Colombo.The contract includes expanding and modernizing a 33/11-kV transformer substation, the delivery, installation and commissioning of several medium-voltage […]
Thailand announces 46-billion-baht anti-poverty package
BANGKOK, July 15, 2008 (AFP) – Thai Prime Minister Samak Sundaravej on Tuesday announced a 46-billion-baht (1.36-billion-dollar) raft of benefits to counter poverty caused by soaring living costs.The six-month anti-poverty scheme will provide tax cuts and free services for six months to Thailand’s worst-off, Samak told a news conference broadcast on national television. The measures […]
Global stocks dive on scepticism over US mortgage rescues
LONDON, July 15, 2008 (AFP) – World equity markets and the dollar fell heavily on Tuesday on scepticism that a dramatic weekend US government rescue of two mortgage giants would contain crisis in American finance, analysts said.European equities sank after more steep losses on Wall Street and in Asia, despite an exceptional US rescue on […]
Federal Reserve tightens US home mortgage lending
WASHINGTON, July 14, 2008 (AFP) – The US Federal Reserve on Monday tightened home mortgage lending in a bid to improve consumer protection from practices blamed in part for the worst US real-estate crisis in decades.The Fed said its board of governors approved rules for home mortgage loans “to better protect consumers and facilitate responsible […]
India have batsmen to counter Mendis, says Kumble
CHENNAI, July 14, 2008 (AFP) – India captain Anil Kumble said Monday he was confident his experienced batsmen will see off the threat posed by spinner Ajantha Mendis in the Test series in Sri Lanka. The Indian players found Mendis virtually unplayable in the recent Asia Cup final in Karachi, where the spinner grabbed 6-13 […]
Team USA includes several athletes who previously failed doping tests
INDIANAPOLIS, July 14, 2008 (AFP) – Reigning Olympic 100 metre champion Justin Gatlin was noticeably absent when the USA’s track and field team for Beijing was officially named on Monday.Gatlin, who is serving a four-year ban for using steroids, tried unsuccessfully last month to get the US courts to permit him to compete in the […]
Sri Lanka shares end higher
July 14, 2008 (LBO) – Sri Lankan share prices ended higher Monday with gains in heavyweight Sri Lanka Telecom and John Keells Holdings pushing up the indices.Brokers said a slight recovery anticipated this week would offer profit taking opportunities for investors who bought during the downturn. The All Share Price Index ended up 0.80 percent […]
Sri Lanka food firm and IFC to push dairy farmers up the value chain
July 14, 2008 (LBO) – The foods division of Sri Lanka’s John Keells Holdings (JKH) has tied up with dairy farmer co-operatives to set up facilities to add value to raw milk, in a move which is backed by the World Bank’s private sector arm, the company said. Gilles Galludec, IFC Country Manager for Maldives […]