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Gold Standard
Mar 03, 2008 (LBO) — A top Sri Lankan advertising agency that stirred up the industry after the Chilies 2008 ad awards has chosen not to go public with its grievances, but the row has raised new questions.Leo Burnet Solutions which bagged 30 percent of the awards, and clinched the second slot created a controversy […]
Indian Collapse
March 3, 2008 (LBO) – India is deploying crack sleuths to track down the operators of a Goldquest-Questnet scheme in the Karnataka state after thousands of victims complained to the police, media reports said. “Initial investigations into the fraud committed by Quest-Net India Limited has revealed the firm had duped people to the tune of […]
Japanese shares plunge 4.0 percent, Yen up; US bond insurer woes renew
TOKYO, March 3, 2008 (AFP) – Japanese share prices tumbled 4.0 percent in morning trade on Monday, battered by a stronger yen and mounting worries about the health of the US economy, dealers said.The benchmark Nikkei-225 index was down 545.93 points or 4.01 percent at 13,057.09 by lunch, while the broader Topix index of all […]
France to extend Champagne-growing area
REIMS, France, March 2, 2008 (AFP) – As champagne sales pop all-time record highs and demand outstrips supply, France’s wine-making czars are to issue an historic ruling to extend the champagne-growing area, a move that will pour new wealth into 40 small rural villages. Like other French wines, Champagne-labelled bottles are produced only from grapes […]
Sri Lanka artillery battles kill 27: defence ministry
March 3, 2008 (AFP) – Artillery exchanges between Sri Lankan troops and Tamil Tiger separatists across the embattled tropical island’s north left at least 25 rebels and two soldiers dead, the defence ministry said Monday.Heavy fighting in Vavuniya and Weli Oya left 21 rebels dead on Sunday, the ministry said in a statement, putting government […]
Sri Lanka rescues migrants adrift after 20 perish
COLOMBO, March 3, 2008 (AFP) – Sri Lanka’s navy on Monday rescued 71 Myanmar and Bangladeshi survivors adrift in the Indian Ocean after 20 people died aboard their wooden boat, a navy spokesman said.The survivors would be brought to the capital Colombo, navy officials said. The craft developed engine trouble and was towed to Sri […]
Sri Lanka Navy probes suspicious vessel: military
March 03, 2008 (LBO) – Sri Lankan naval vessels have been deployed to intercept a suspicious vessel 150 nautical miles off the island’s eastern coast, the country’s security media centre said Monday.The suspicious ship had been detected yesterday. The Sri Lanka Navy has previously destroyed a series of ships which were believed to have been […]
‘s Asian Alliance net up 60-pct
Mar 02, 2008 (LBO) – Sri Lanka’s Asian Alliance Insurance (AAIC) profits were up 60 percent to 113 million rupees with investment income more than doubling during 2007, audited accounts of the company showed. Assets in the life business went up to 1.1 billion rupees from 738 million and total assets were up to 1.9 […]
Populist India budget unlikely to give election boost: analysts
NEW DELHI, March 2, 2008 (AFP) – A populist budget unveiled by India’s ruling Congress party forgiving loans for poor farmers and cutting income taxes is unlikely to help its re-election chances in looming polls, analysts say.“People say Uttar Pradesh is just a glimpse of what’s going to unfold at the national level,” declared Mayawati […]
ECB to cut growth forecasts; keep rates steady
FRANKFURT, March 2, 2008 (AFP) – The European Central Bank will make a cut of sorts this week — but with eurozone inflation stubbornly high the cut will be to its growth forecasts, not interest rates. “The ECB council will cut on Thursday its forecasts for growth in the euro zone, but not its main […]