All Blogs
Saudi campaign for OPEC output rise gathers pace
VIENNA, Sept 11, 2007 (AFP) – OPEC ministers head into crunch talks about the cartel’s output on Tuesday, with signs that the group might bend to the will of Saudi Arabia and increase production.It has an output target of 25.8 million barrels, but the 10 members constrained by output limits are estimated to be producing […]
Body Shop founder Anita Roddick dies
LONDON, Sept 11, 2007 (AFP) – Anita Roddick, founder of the Body Shop cosmetics chain, died on Monday evening after suffering a major brain haemorrhage, her family said. Roddick, 64, was with her husband and two daughters at a hospital in Chichester, southern England, when she died at 6:30 pm (1730 GMT). She had been […]
Sri Lanka team wins Spirit of Cricket Award
JOHANNESBURG, Sept 10, 2007 (AFP) – Winners of the International Cricket Council (ICC) awards for 2007 which were presented at the Sandton Convention Centre here on Monday night: Cricketer of the Year: Ricky Ponting (AUS) Other nominees: Shivnarine Chanderpaul (WIS) Kevin Pietersen (ENG) Mohammad Yousuf (PAK) Test Player of the Year: Mohammad Yousuf (PAK) Other […]
Sri Lanka navy claims major success against Tamil Tigers
COLOMBO, Sept 11, 2007 (AFP) – Sri Lanka’s navy on Tuesday claimed its biggest success against the Tamil Tiger rebels, saying it had virtually wiped out the separatist group’s ability to smuggle arms into the country. More than 5,400 people have been killed in a new wave of fighting since December 2005 when a Norwegian-brokered […]
Sri Lanka navy sinks suspected rebel gun-running ships
Sept 11, 2007 (AFP) – Sri Lanka’s navy sank at least three suspected Tamil Tiger gun-running vessels off the island’s southeastern sea board, navy officials said Tuesday.Clashes between suspected Tamil Tiger ships and the Sri Lankan navy have escalated in recent months amid heavy fighting in the island’s northern and eastern regions.Naval craft intercepted the […]
Sri Lanka says wanted Tamil Tiger arms supplier arrested
Sept 11, 2007 (LBO) – Sri Lanka’s defence ministry Tuesday claimed that one of the most wanted Tamil Tigers had been arrested by Interpol in Bangkok, Thailand. He and his group are suspected of running weapons purchased Thailand and neighbouring countries to the Tamil Tigers in Sri Lanka. Quoting ‘reliable sources from Thailand’ the ministry […]
Hedging Game
Sept 11, 2007 (LBO) – Lanka IOC, the Sri Lanka unit of the Indian Oil Corporation, has started to hedge oil imports with positive initial results, an official said. LIOC expects oil prices to ease towards the latter part of the year. “We have started to hedge imports in a cautious manner,” Lanka IOC managing […]
Sri Lanka minister lashes out at inflation creators
Sept 11, 2007 (LBO) – Sri Lanka’s consumer affairs minister, cornered by rising prices and a falling rupee caused by money printing, lashed out at a Marxist party that helped engineer a collapse of government finances. Except for a handful of years like 2003, the Sri Lanka rupee has been on a free fall since […]
Sri Lanka markets open after weekend, rupee flat
Sept 10, 2007 (LBO) – The Sri Lanka rupee was quoted at 113.25/28 flat against the spot dollar Monday with overnight call money peaking at 16.00 before easing to 14.00 percent in liquid conditions, dealers said. The six month forward dollar fell slightly to 120.95 levels from an earlier level of 121.11. Dealers were closely […]
Operating Rules
Sept 10, 2007 (LBO) – Sri Lanka’s Central Bank plans to enforce tough new mandatory rules next year that include provisions to encourage ‘whistleblowers’, linking executive pay to performance and discouraging the practice of inter-locking directorates. The new corporate governance rules seek to separate the functions of the chairman, who must be one of the […]