All Blogs
New Aussie govt. promises fiscal discipline to curb inflation
SYDNEY, Dec 14, 2007 (AFP) – Australia faces an extended battle against inflation as China and India fuel an unprecedented economic boom in a period of global uncertainty, the country’s new Treasurer Wayne Swan warned Friday.The treasurer outlined plans to combat price rises by launching an era of strict fiscal discipline to slash “wasteful spending” […]
Germany unhappy at 3.1-pct inflation in November
BERLIN, Dec 14, 2007 (AFP) – Inflation hit 3.1 percent in Germany, the biggest eurozone economy, last month, final figures released Friday by the national statistics office showed.Consumer prices rose by more than an initially estimated 3.0 percent, to reach their highest increase since January 1994, the Destatis office said. On Thursday, European Central Bank […]
Shareholders OK Murdoch takeover of Dow Jones, WSJ
NEW YORK, Dec 13, 2007 (AFP) – Rupert Murdoch completed his hard-fought takeover of The Wall Street Journal and its parent company Thursday as Dow Jones & Co. shareholders formally approved a takeover by Murdoch’s News Corp. The vote formalized a victory for Murdoch in his bid to wrest control of the Journal, the prestigious […]
Sri Lankan Tamil Tiger suspects on trial in Australia
Dec 14, 2007 (LBO) – Three Australians of Sri Lankan Tamil origin are to stand trial in Australia’s Supreme Court for engaging in terrorism related offences there, Sri Lanka’s foreign ministry said. On Friday afternoon, a Magistrates Court in Melbourne committed the three, Aruran Vinayagamoorthy, Sivarajah Yathavan and Arumugam Rajeevan, to stand trial in the […]
Sri Lanka govt minister defects to opposition ahead of crucial vote
Dec 14, 2007 (LBO) – Sri Lanka’s national heritage minister, Anura Bandaranaike, crossed over to the opposition benches in parliament a few minutes ago, just an hour ahead of a crucial budget vote in the house. Updated/corrected portfolio Bandaranaike’s defection weakens the ruling coalition’s already wafer thin majority in parliament. Bandaranaike is the brother of […]
Sri Lanka govt wins crucial budget vote
Dec 14, 2007 (LBO) – Sri Lanka’s government Friday won a crucial vote in parliament on its 2008 budget, despite a last minute crossover of a cabinet minister, removing uncertainty that had plagued the country for weeks. The turning point was the abstention of the 38 member Marxist-nationalist Janatha Vimukthi Peramuna (JVP) who voted against […]
Sri Lanka October trade gap widens, 10-month deficit still down
Dec 14, 2007 (LBO) – Sri Lanka’s trade deficit for the first ten months of 2007 narrowed 3.7 percent to 2,846 million US dollars period, though the gap in October widened, the Central Bank said Friday. Total export earnings during January-October 2007 totalled 6,286 million dollars, following a growth of 13.1 per cent from the […]
Sri Lanka reserves up on government borrowings
Dec 14, 2007 (LBO) – Sri Lanka’s official foreign reserves had shot up to 3,226 million dollars in October from following a 500 million dollar sovereign bond issue, allowing the country to record a 475 million dollar surplus for the year, the Central Bank said. In January foreign reserves were 2,526 million US dollars. Total […]
Equity Injection
Dec 13, 2007 (LBO) – Sri Lanka’s Nations Trust Bank is making a one billion rupee cash call sweetened with warrants, giving an option to buy into the bank at a fixed price in 2010 and 2011, the company said Thursday. NTB has 31 branches, 8 leasing centers, 38 teller machines and issues American Express […]
Upturn
Dec 13, 2007 (LBO) – Sri Lanka saw more foreign visitors in November with Western Europe, a key generating market rallying 40 percent to drive total arrivals up by 20 percent, the tourism promotion office said. Arrivals from UK grew 53 percent to 7,938, Germany 24 to 4,005 while the Netherlands grew 85 percent to […]