All Blogs
Sri Lanka busts fertilizer subsidy budget in five months
July 14, 2008 (LBO) – Sri Lanka has spent almost a year’s allocation for a populist fertilizer subsidy in just five months, the finance ministry said in a report, indicating that more than 30 billion rupees would be needed to maintain it till the year end. Policy Stampede In recent years policy makers and senior […]
Sri Lanka gets Canadian support for disaster planning
July 14, 2008 (LBO) – Canada has given Sri Lanka support to train officials from government and non-governmental organisations in responding to natural disasters like the 2004 Indian Ocean which devastated parts of its coastline. High Commissioner for Canada, Angela J. Bogdan, said the devastating impact of the tsunami and other natural disasters in many […]
US Treasury unveils support for Fannie Mae, Freddie Mac
WASHINGTON, July 14, 2008 (AFP) – Treasury Secretary Henry Paulson unveiled measures Sunday to bolster key US housing finance giants Fannie Mae and Freddie Mac, which were given Federal Reserve oversight and bigger credit lines.Paulson said the “central role” the two play in real estate financing meant they should continue to respond to shareholders, and […]
Emirates chief slams British, EU aviation policies
LONDON, July 14, 2008 (AFP) – The president of Emirates airline on Monday criticised the policies being imposed by Britain and the European Union on airlines that he said were stifling moves towards greater efficiency.In a comment piece in the Financial Times, Tim Clark wrote that the aviation industry was going through “the greatest crisis” […]
Computer headset lets brain control action
SAN FRANCISCO, July 13, 2008 (AFP) – It’s mind over machine: a US high-tech company has created a headset allowing computer game lovers to use their thoughts to move mountains and make objects disappear on screen.Emotiv, a San Francisco-based startup that marries neuroscience and computer engineering, says its EPOC gaming headset offers only a glimpse […]
‘s Tharanga included for India warm-up tie
July 14, 2008 (AFP) – Sri Lankan batsman Upul Tharanga was on Monday given a chance to stake his claim for the upcoming home Test series against India after being named in the 12-man squad for a warm-up match against the tourists.Sri Lanka Board XI squad: Jehan Mubarak (capt), Mahela Udawatte, Upul Tharanga, Chamara Kapugedera, […]
Iran tops Sri Lanka donors up to May 2008, displacing Japan
July 14, 2008 (LBO) – Iran emerged as the biggest lender to Sri Lanka, displacing traditional top donors Japan and the Asian Development Bank (ADB), in the five months up to May 2008, aid commitments disclosed by the finance ministry show. Germany, which had earlier said it was cutting off aid to the island owing […]
Battle Values
July 13, 2008 (LBO) – Sri Lanka’s Stassen group controlled by tycoon Harry Jayewardene had been valued at over 24 billion rupees (228 million US dollars) by his partners who are in courts to force a buyout of their interests, a media report said. The Sunday Island newspaper said V P Vittachchi, R K Obeysekera […]
Asia sets stage for disaster relief exercise with key powers
WASHINGTON, July 13, 2008 (AFP) – After much debate, Asia is finally expected to agree to hold its first civilian-military disaster relief exercise with key powers such as the United States, Russia and the European Union.It will set the stage for real emergency response to disasters, such as the recent cyclone that ravaged Myanmar and […]
Sri Lanka says 32 killed in fresh fighting
July 13, 2008 (AFP) – At least 30 Tamil Tiger rebels and two government soldiers were killed in fresh fighting in the island’s embattled north, the defence ministry said Sunday.The separatist guerrillas were killed in the Wanni region and the adjoining Jaffna peninsula on Saturday, the ministry said. It said 26 rebels were also wounded […]