All Blogs
Zimbabwe annual inflation over 100,000-pct official figures
HARARE, 2008 (AFP) – Zimbabwe’s annual inflation rate has soared to over 100,000 percent, weeks ahead of elections in the southern African country, according to official figures obtained by AFP on Wednesday.“The year-on-year inflation rate for the month of January 2008, as measured by the all items Consumer Price Index (CPI) stood at 100,580.2 percent, […]
‘s largest solar plant to be built in the US
WASHINGTON, Feb 21, 2008 (AFP) – Abengoa Solar plans to build the world’s largest solar plant in Arizona in cooperation with an energy utility in the southwestern state, the companies said Thursday.Abengoa Solar, a subsidiary of Spain’s Abengoa technology company, signed a contract with Arizona Public Service Co. (APS) to build, own and operate what […]
Sri Lanka beaten by Australia in rain-shortened match
MELBOURNE, Feb 22, 2008 (AFP) – Sri Lanka’s chances of reaching the tri-series finals were dealt a serious blow when Australia beat them by 24 runs in a rain-shortened one-day match on Friday. The visitors’ gamble to bowl first — expecting the match to be shortened by the weather — looked to have paid off […]
‘s top order
MELBOURNE, Feb 22, 2008 (AFP) – Australia’s top order woes continued as they made 184 for seven against Sri Lanka in the tri-series one-day match here on Friday.The home side slumped to 54 for four before Michael Clarke and Mike Hussey again came to the rescue to help them build a competitive total. Hussey held […]
Sri Lanka steps up air strikes against Tamil Tigers
Feb 22, 2008 (AFP) – Sri Lankan war planes stepped up bombing raids inside Tamil Tiger-controlled territory Friday, a day after intense ground battles left at least 95 people dead, the defence ministry said. Jet fighters hit a key base of the Liberation Tigers of Tamil Eelam (LTTE) in the morning after air strikes against […]
National Pension
Feb 21, 2008 (LBO) – Sri Lanka’s state-run savings giant, National Savings Bank entered the pensions market with a campaign specifically targeted at young savers, officials said. Sri Lanka’s central bank governor Nivard Cabraal said the scheme will give an opportunity for private sector workers to save for their retirement as formal pensions were only […]
Hop Across
Feb 21, 2008 (LBO) –Standard & Poor’s will start an office in India allowing a closer watch on Sri Lanka and other South Asian nations, the rating agency said. S&P had a subsidiary in India, CRISIL, but permission to set up a fully-owned subsidiary has only just been given. The South Asian office in Mumbai […]
Sri Lanka gets $22mn UNDP grant to develop coconut industry
Feb 21, 2008 (LBO) – The United Nations Development Fund (UNDP) is to grant Sri Lanka 22 million dollars to develop the coconut industry, officials from the ministry of coconut development said. The funds will be used to improve small and medium coconut businesses, especially small holder cultivators, said Newton Peiris, advisor at the ministry […]
Bottom Dwellers
Feb 21, 2008 (LBO) – The market for high rise apartments in Sri Lanka has bottomed out and prices are unlikely to fall further, a group of property developers and construction contractors said. Economic analysts have pointed out that Sri Lanka’s recent rise in land and property was an asset price bubble fired loose monetary […]
Dollar weak, gold and oil hit new records amidst loose Fed policy
LONDON, Feb 21, 2008 (AFP) – The dollar dipped against leading currencies on Thursday as dealers worried about slowing economic growth in the United States, analysts said.In European trading, the euro rose to 1.4746 dollars, from 1.4712 dollars in New York late on Wednesday.Against the Japanese currency, the dollar eased to 108.05 yen from 108.13. […]