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Sri Lanka stocks steady, cement firm draws interest
Jan 21, 2008 (LBO) — Trading in Lanka Cement picked up Monday on reports that an Indian firm may start a cement plant in Jaffna and the broader market was steady in a day when global markets plunged. Shipping cement to Tamil Nadu from Jaffna would be cheaper than trucking it from plants in India […]
Sri Lanka desiccated coconut exports restrained by nut shortfall
Jan 21, 2008 (LBO) — Sri Lanka’s exports of desiccated coconut (DC) were far below the island’s potential last year due to insufficient coconuts to keep mills running, exporters said.Sunil Watawala, former president of the DC Millers Association, said DC is the island’s main kernel product that is competitive in international markets as local coconut […]
Sri Lanka sees major power failure
Jan 21, 2008 (LBO) — Power supply to most parts of Sri Lanka failed as a transformer in a transmission line just outside the capital burst in the early hours of Monday, officials at the state power utility said. A current transformer in the Kotugoda grid substation had burst tripping off the adjacent Biyagama substation […]
World shares tumble as Bush plan disappoints
LONDON, Jan 21, 2008 (AFP) – Global stock markets plunged on Monday as US President George W.Bush’s tax plan to revive the world’s largest economy disappointed investors. “Investor scepticism over the impact of a temporary tax cut in saving the US economy from a sharp slowdown in economic growth prompted heavy selling” in equities, said […]
Sri Lanka to tackle young Australian guns
MELBOURNE, Jan 21, 2008 (AFP) – A number of Australian Test hopefuls will get the chance to stake their claim for higher honours when they play for the Prime Minister’s XI against Sri Lanka on January 30 at Canberra’s Manuka Oval.Cricket Australia Monday announced a strong squad for the match and included in the side […]
Sri Lanka military says at least 29 killed in fresh fighting
Jan 21, 2008 (AFP) – Heavy fighting raged across Sri Lanka’s north with the military destroying rebel bunkers and killing at least 29 guerrillas, the defence ministry said Monday.The ministry said 16 rebels were killed in Vavuniya district while 13 were killed in clashes across Mannar district in the northwest on Sunday. The latest fighting […]
Sri Lanka inflation rockets to new record of 26.2-pct amid money printing
Jan 21, 2008 (LBO) — Sri Lanka’s country-wide inflation hit an all time record 26.2 percent in November 2007, following one of the worst bouts of money printing ever seen in the country, the latest official data showed.The Sri Lanka Consumer Price Index’s (SLCPI) previous high was 24.1 percent recorded in October as the government […]
Sri Lanka too risky, Russian tourists told
Jan 20, 2007 (LBO) –Russia’s Foreign Ministry has issued a recommendation to Russian citizens to refrain from trips to Sri Lanka in the wake of growing terrorist activity by the Tamil Tigers. “This organization has noticeably stepped up its terrorist activity of late,” a source at the Foreign Ministry was quoted as saying by Itar-Tass […]
Stereotype
Jan 20, 2008 (LBO) — Sri Lankan writers trying to break into the international arena are facing a barrier from foreign publishers who expect books themed on the three-decade long conflict in the island.She says budding authors also need publishers who provide guidance with good editors who will help spruce up a book. “The books […]
Carbon Disclosure Project to assess world business CO2 footprint
WASHINGTON, Jan 20, 2008 (AFP) – The Carbon Disclosure Project (CDP), a consortium of 315 top institutional investors assessing industries about their CO2 emissions, announced Sunday a new partnership to extend its global initiative to companies and suppliers. With members including Goldman Sachs, Merrill Lynch, Allianz and HSBC that manage assets of more than 41 […]