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‘s economy speeds up in Q1: government
SINGAPORE, April 10, 2008 (AFP) – Singapore’s economy grew an annual 7.2 percent in the first quarter, faster than the 5.4 percent expansion recorded in the previous three months, the government said Thursday. But economists said the growth is likely to taper off in coming months amid a widely-expected US-led global slowdown. Last quarter’s performance […]
Oil spike, aircraft cost bring down Hong Kong budget airline
HONG KONG, April 10, 2008 (AFP) – Soaring fuel costs and a decision to buy aircraft instead of renting them led to the demise of budget Hong Kong airline Oasis, the company’s founders said in an open letter published Thursday.Raymond and Priscilla Lee apologised to the thousands of stranded passengers, company employees and to investors […]
With US in crisis, global economy in peril: IMF
WASHINGTON, April 8, 2008 (AFP) – The global economic outlook is increasingly grim with the United States mired in a recession from a housing meltdown whose effects are still spreading, the IMF said Wednesday. Global expansion is set to slow to 3. 7 percent in 2008 amid an unfolding crisis that began in the United […]
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April 10, 2008 (LBO) – A host of media rights groups from around the world have written to Sri Lankan president Mahinda Rajapakse urging him to ‘stop the war on journalists’ and probe a spate of recent attacks on the island’s media. “The international press freedom and human rights community is extremely concerned that journalists […]
Sri Lanka budget off target, real revenues fall in 2007
April 10, 2008 (LBO) – Sri Lanka’s state revenues were sharply lower than budgeted and current expenditure soared in 2007 while taxes slipped in real terms, newly released government data showed. The government’s total revenues were off target by 34.7 billion with only 565 billion rupees out of the 599.8 billion rupees flowing into government […]
Sri Lanka stock market turnover soars on hotel deal
April 09, 2008 (LBO) – The sale of a controlling stake in Ceylon Continental hotel pushed up turnover in Sri Lanka stock market to over 1.3 billion rupees although the market closed lower Wednesday. The benchmark All Share Price Index lost 10.77 points or 0.41 percent to end at 2,606.97 while the more liquid Milanka […]
Eureka First
April 09, 2008 (LBO) – Eureka Technology partners says it has become the first Sri Lankan firm to receive ISO 20000 certification.Eureka is an IT services firm providing information technology services to firms. The company says even India has only a handful of certified providers despite having a large number of IT service providers based […]
Sri Lanka police arrest four suspects with explosives
April 9, 2008 (AFP) – Sri Lanka’s police arrested four people and seized a large quantity of explosives that could have been used in a suicide bombing, officials said Wednesday.Investigators found about 50 kilogrammes (110 pounds) of plastic explosives and grenades in a location in central Kandy district on Tuesday, a police official said. “There […]
Elite Sri Lankan commandos kill three troops in mishap: police
April 8, 2008 (AFP) – Sri Lanka’s elite police commandos shot dead at least two soldiers and a civilian in a case of mistaken identity during a search in the restive east of the island, police said.The Special Task Force commandos opened fire at a group of men they believed were members of the Tamil […]
Sri Lanka exporters warned to cope, if GSP+ is lost
April 09, 2008 (LBO) – Sri Lanka is making every effort to extend European Union trade concessions but local producers should also find ways to increase exports without the tariff benefit known as GSP+, officials said. “To get tariff benefits we will do everything we can do, but we will not give away sovereignty,” Sri […]