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Bear Stearns price hike helps Wall Street extend rally
NEW YORK, March 24, 2008 (AFP) – US stocks powered higher Monday as a sharply higher price announced for the takeover of troubled investment bank Bear Stearns eased concerns about a financial sector meltdown. News of a surprise rebound in existing home sales also brightened the mood on Wall Street, where analysts said sentiment appeared […]
Dollar gains some ground; US home sales pick up
NEW YORK, March 24, 2008 (AFP) – The dollar regained some strength Monday after an industry survey showed a surprise rebound in existing US home sales in February following six straight months of decline.Traders said the better-than-expected sales of existing homes, which rose 2.9 percent to an annual rate of 5.03 million units according to […]
‘s future leaders
SHANGRILA, China, March 25, 2008 (AFP) – Tibetan monks have expressed fears that a stepped-up political campaign following violent anti-Chinese riots in Lhasa would target future Buddhists leaders.China has long held a vice-like grip over Tibetan Buddhist monasteries in an effort to curb an independence drive that it blames on the exiled Dalai Lama, Tibet’s […]
‘s Vaas planning retirement in a year
PROVIDENCE, Guyana, March 25, 2008 (AFP) – Chaminda Vaas has plans to end his distinguished international career for Sri Lanka in a year’s time.The left-arm fast-medium bowler collected three wickets for 45 from 22 overs to help his side restrict West Indies to 269 for nine, replying to Sri Lanka’s first innings total of 476 […]
Sri Lanka in control of cricket test
PROVIDENCE, Guyana, March 24, 2008 (AFP) – Sri Lanka seized control of the opening Test against West Indies on Monday although their hosts need eight more runs to avoid the follow-on. West Indies, replying to Sri Lanka’s first innings total of 476 for eight declared, reached 269 for nine when stumps were drawn on a […]
Sri Lanka opposition parties to contest Eastern provincial polls
March 25, 2008 (LBO) – Sri Lanka’s main opposition United National Party (UNP) and the minority Sri Lanka Muslim Congress (SLMC) have decided to contest the upcoming elections in the eastern province, party officials said. The UNP boycotted local government elections in the area earlier this month, in a move that proved controversial with some […]
‘s deafening silence on Tibet and gratitude to S Mahinda Thero
March 25, 2008 (LBO) – Sri Lanka is maintaining a diplomatic silence on the recent Chinese crackdown on protests in Buddhist Tibet as China is one of its main arms suppliers in the war against Tamil Tiger separatists, analysts say. “¦when the Buddhists in Tibet cry for their freedom, shouldn’t Sri Lanka, being a Buddhist […]
Petro Move
Mar 25, 2008, (LBO) – India’s Bharat Petroleum says it is looking for opportunities in Sri Lanka’s aviation and retail fuel sectors after launching its ‘MAK’ brand lubricants partnering with a top auto dealer in the island. “We hope that we will also be given an opportunity to enter the main product market which is […]
Sri Lanka dollar risk rates shoot up as banks chase US currency
Mar 24, 2008 (LBO) – Premiums above benchmark rates for dollar loans in Sri Lanka’s interbank markets have rocketed as a global credit crunch made the US currency dearer and local demand was boosted by an active swap market, bankers said.. “Banks were borrowing in the interbank market at around 15 basis points above the […]
Sri Lanka stocks slump; money rates spike despite cash injections
March 24, 2008 (LBO) – Sri Lankan stocks slumped Monday with trades in index heavy Sri Lanka Telecom dominating turnover as speculation swirled about an imminent sale by major shareholder NTT Communications of Japan. Brokers said speculators were yet to get back in full swing following a weekend extended by two religious holidays. The All […]