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Record-breaking gold could hit 1,000 dollars: analysts
LONDON, Jan 15, 2008 (AFP) – The price of gold is hitting new record highs owing to the troubled US economy and a cocktail of other supportive factors, leading some analysts to predict 1,000 dollars per ounce could happen soon.In recent days the precious metal has blasted past 900 dollars in a record-breaking run. Unprecedented […]
Sri Lanka peace groups get World Bank grants
Jan 15, 2008 (LBO) – The World Bank is giving funds to Sri Lankan civil society organizations for projects that will focus on bringing about a sustainable peace. The bank said in a statement its Civil Society Fund, formerly the Small Grants Program, plans to award seven grants of up to $5,000 (about Rs. 500,000) […]
Japan aid to Sri Lanka under review after truce break
Jan 15, 2008 (LBO) – Sri Lanka’s largest donor Japan said it was awaiting a political solution to the island’s internal conflict and was reviewing its aid policy after the island’s government pulled out of a truce with the Tamil Tigers. . Japan’s special envoy to the war-ravaged island said his government was gravely concerned […]
Sri Lanka bonds up again, bills lower
Jan 14, 2008 (LBO) – Sri Lanka bonds edged up slightly Monday but 3-month bill yields are expected to move down further at Wednesday’s auction, dealers said.In the secondary market 3-month bills were trading at 18.45/19.00 percent against a weighted average of 20.12 percent at the last auction, while 6-month bills were quoted at 18.90/19.25 […]
Sri Lanka stops pepper exports to India under free trade deal
Jan 14, 2008 (LBO) – Sri Lanka has stopped exporting pepper under the Indo-Lanka Free Trade Agreement (FTA) because of restrictions imposed by India, a top exporter has said. Gulam Chatoor, former chairman of the Spices and Allied Products Producers and Traders Association said India’s imposition of a cap of 2,500 tonnes a year on […]
No Justice
Jan 14, 2008 (AFP) – A Sri Lankan man has been released from prison after spending 50 years on remand, his lawyer said Monday.D.P. James, now 80, was arrested in August 1958 for attacking and wounding his father with a knife. He was sent to jail, then moved to a psychiatric hospital, and then discharged […]
Sri Lanka budget carrier seeks link after Emirates exits SriLankan
Jan 14, 2007 (LBO) — Sri Lanka’s state budget carrier Mihin Air will work on a common commercial strategy with full service SriLankan Airlines, after a management deal with Emirates ends in March, a top official said. “It’s very important after March that SriLankan Airlines and Mihin Lanka work on a common commercial strategy,” Mihin […]
Sri Lanka Union Assurance tops regional accounting awards
Jan 14, 2008 (LBO) – Sri Lanka’s Union Assurance has won a top South Asian breitling replica watch regional award for its annual report soon after it bagged a top spot in a competition run by the island’s own accounting body. The South Asian award came just after the Union Assurance won ‘Overall Best Annual […]
Maldives economy slows in 2007: central bank
MALE, Jan 14, 2008 (AFP) – Economic growth in the Maldives slowed to 6.6 percent in 2007, the islands’ central bank said Monday as high oil prices and a drop in the fish catch impacted on the economy. Economic growth, down from a staggering 19 percent in 2006, was however better than the 5.5 percent […]
China sets 2008 inflation target at 4.6 percent
SHANGHAI, Jan 14, 2008 (AFP) – China has set an initial inflation target of 4.6 percent for 2008, up from three percent last year, state media reported Monday, reflecting a recent spike in the prices of consumer products. The National Development and Reform Commission also set a target for economic growth this year of eight […]