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Extended
Mar 26, 2008 (LBO) – Sri Lanka’s Commercial Bank says it is opening branches with extended hours and is also planning automated teller kiosks that will provide internet banking facilities to customers. The bank opened its 165th branch at Ward Place, Colombo on Wednesday which will stay open till 5.00 pm in the evening. Commercial […]
Power Loan
Mar 26, 2008 (LBO) – HSBC Sri Lanka said it has arranged 152.2 million euros (230 million US dollars) in debt for a 300 MegaWatt thermal power plant in the island, from US and European export credit agencies. The credit has a 100 percent unconditional guarantee from the government of Sri Lanka. The rates were […]
‘s Hambantota in drive to lure more tourists
Mar 26, 2008 (LBO) – Sri Lanka’s southern coastal city to Hambantota has launched a new drive to draw more visitors in, with the area already acquiring a name for wildlife, historical sites and a 150 kilometre stretch of beach. “Our key objective is to promote the Hambantota district as a highly desirable tourist destination […]
Cambodian PM bans rice exports to halt spiraling costs
PHNOM PENH, March 26, 2008 (AFP) – Cambodia’s Prime Minister Hun Sen on Wednesday banned rice exports in a bid to halt the staple food’s spiraling prices, which have reached highs of nearly one dollar a kilogramme.The move comes amid the steady climb in the price of most staple goods, including the doubling of the […]
Sri Lankan vegetable oil exporters warn of impending closure
March 26, 2008 (LBO) – Sri Lanka based makers of vanaspati ghee or hydrogenated vegetable oil who exported to India under a free trade deal said they faced closure after India slashed duty on imported vegetable oils. . India dropped import duty on palm oil on March 20 in a bid to check rising domestic […]
British regulator admits failings in Northern Rock fiasco
LONDON, March 26, 2008 (AFP) – Britain’s top financial services regulator admitted Wednesday to serious failings in its oversight of Northern Rock, the British bank that needed a government bailout to save it from collapse last year.The Financial Services Authority (FSA), responsible for regulating London’s City financial district, said in a statement on Wednesday that […]
The new EU-US aviation pact to open airways
BRUSSELS, March 26, 2008 (AFP) – Air passengers flying between Europe and the United States should get more choice and cheaper tickets if all goes as officials plan under a new EU-US aviation pact taking effect on Sunday. After more than four years of often tense negotiations, hopes are high that the new so-called “open […]
Dollar pulls back as US consumer confidence tumbles
NEW YORK, March 25, 2008 (AFP) – The dollar weakened on foreign exchange markets Tuesday as a gauge that tracks US consumer confidence dived to a five-year low amid mounting economic uncertainty. Traders said a monthly survey by the Conference Board, a private research group, showed its consumer confidence index falling to 64.5 points in […]
Wind power breaks records in Spain
MADRID, March 25, 2008 (AFP) – Wind power is breaking new records in Spain, accounting for just over 40 percent of all electricity consumed during a brief period last weekend, the country’s wind power association said Tuesday.As heavy winds lashed Spain on Saturday evening wind parks generated 9,862 megawatts of power which translated to 40.8 […]
Sri Lanka shaken after setting Windies 437 for victory
PROVIDENCE, Guyana, March 25, 2008 (AFP) – Sri Lanka were put under some early pressure after they set West Indies 437 to win in a minimum of 113 overs in the opening Test on Tuesday. Though they poached an early scalp, the Sri Lankans were put on the back-foot as West Indies reached 96 for […]