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‘s central bank chief determined to stamp down on inflation
SYDNEY, March 14, 2008 (AFP) – Australia’s central bank governor has predicted inflation is poised to rise to four percent, fuelling expectations interest rates will be hiked again. Reserve Bank governor Glenn Stevens, who has lifted rates twice this year in a bid to curb prices, said the latest inflation figures due next month were […]
Gold over 1000 dollars weak dollar fires bubble
HONG KONG, March 14, 2008 (AFP) – Global commodities markets were bubbling on Friday after gold briefly peaked over 1,000 dollars an ounce, oil hit new highs and the dollar tumbled to a record low against the euro.In Asian markets Friday Hong Kong’s Hang Seng Index opened up 1.05 percent after a 4.8 percent fall […]
Zimbabwe urges farmers who got land to produce more food to combat inflation
HARARE, 2008 (AFP) – Zimbabwean President Robert Mugabe on Saturday called on beneficiaries of his government’s land reforms to work harder on farms to avert food shortages, at a ceremony ahead of this month’s elections.He said government investment in farm equipment “should see us greatly reduce the incidence of food shortages in future”. “What now […]
Indian company chief admits smuggling weapons technology
WASHINGTON, March 13, 2008 (AFP) – The Indian head of an international electronics firm pleaded guilty Thursday to a charge of shipping restricted weapons technology to the Indian government, the US Justice Department said. Parthasarathy Sudarshan, president of Cirrus Electronics with offices in the United States, Singapore and India, admitted to the felony charge of […]
Oil hits record 111 dlrs amid Fed money printing
NEW YORK, March 13, 2008 (AFP) – Oil prices hit a record 111.00 dollars per barrel Thursday amid an accelerating price rally which traders say has been fueled by a sharp fall in the value of the US dollar and supply concerns.. Saudi Foreign Minister Prince Saud al-Faisal said speculators were largely responsible for the […]
Sri Lanka, U.S. in row over human rights report
March 14, 2008 (LBO) – The Sri Lankan government Friday said it had summoned the American envoy to protest against a critical U.S. human rights report but the US embassy said it was standing by the report. A Foreign Ministry statement said it “strongly protests” the U.S. State Department’s Human Rights Report which criticised Sri […]
Sri Lanka to hold vote for Eastern provincial council
March 14, 2008 (AFP) – Sri Lanka on Friday announced plans to hold provincial council elections for the first time in two decades in a former stronghold of Tamil Tiger separatists. Commissioner of Elections Dayananda Dissanayake said he would receive nominations for the Eastern Provincial Council for a week from March 27. Voting was expected […]
Sri Lanka state television stops live programs in protest
Mar 14, 2008 (LBO) – Sri Lanka’s state-run television service, Rupavahini, has suspended live programs other than news broadcasts in protest against an attack on one of their employees Friday morning, television workers said. Anurasiri Hettige, a trade union official, had been attacked with a metal bar in the Kottikawatte area of Sri Lanka’s capital […]
Sri Lanka says 23 killed in heavy fighting
COLOMBO, March 14, 2008 (AFP) – Heavy fighting between security forces and Tamil Tiger rebels in northern Sri Lanka has left at least 23 guerrillas dead and five government soldiers wounded, the defence ministry said Friday.Tens of thousands have been killed since the ethnic conflict erupted in 1972. Clashes erupted in the Wanni region as […]
Sri Lanka central bank to drain foreign cash with own securities
Mar 13, 2008 (LBO) – Sri Lanka’s Central Bank said it would issue its own securities to drain excess cash generated from foreign exchange interventions after running out of Treasury Bills which are usually sold to drain liquidity.The Central Bank said its Treasury Bill stock has fallen to half a billion rupees by March 12, […]