All Blogs
Shell accuses Argentina of discrimination in fuel battle
BUENOS AIRES, Aug 24, 2007 (AFP) – Anglo-Dutch oil company Royal Dutch/Shell, whose top executives are under threat of arrest, accused the Argentine government of “discrimination” in a page-wide advert published Friday in leading newspapers.“The discrimination Shell is being subjected to is inadmissible,” said company president Juan Aranguren in the statement, adding that the firm […]
‘s Tata confirms interest in Land Rover, Jaguar
NEW DELHI, Aug 24, 2007 (AFP) – The head of India’s Tata conglomerate confirmed Friday that his group was interested in bidding for luxury British car brands Jaguar and Land Rover, in an interview with an Indian news channel.Last month, Indian news reports said that two Indian automakers — Tata Motors and the Mahindra group […]
China pledges investment to tackle pollution
BEIJING, Aug 25, 2007 (AFP) – China will invest more than 1.33 billion yuan (176 million dollars) to clean up the environment after decades of frantic economic growth, state media said Saturday. The money will be earmarked mainly for monitoring and reducing pollutant emissions, and for a new system of emission trading, the China Daily […]
Sri Lanka property bubble on the bursting path
August 25, 2007 (LBO) – Sri Lanka’s land and condominium price bubble which has now peaked may pop with buildings now under construction expected to flood the market in the next two years and buyers turning cautious, analysts and developers have said. Speculators and foreign investors have been scared off by the flare up in […]
Sri Lanka rupee floats to new level
August 24, 2007 (LBO) – The Sri Lanka rupee closed Friday with bids at 112.70 against the greenback with the highest deal at 112.67 in spot trade in a day that it floated freely with no intervention from the authorities, dealers said. The week closed with bids for the spot dollar at 112.70 and offers […]
Sri Lanka rupee eases against greenback in early trade
August 24, 2007 (LBO) – The Sri Lanka rupee eased towards a resistant level on the figure with spot deals touching 112.67 against the greenback in intra-day trading Friday, dealers said.The Sri Lanka rupee has largely held steady against the greenback in recent weeks while most regional currencies, including the Australian dollar, lost ground sharply. […]
Good Intentions
August 24, 2007 (LBO) – Sanasa Development Bank (SDB), a Sri Lankan bank that promotes micro finance hopes to expand its network to northern and eastern province an official said. The micro finance institution has increased its branches up to 30 throughout the island during the firm’s first catering to an increasing number of account […]
Finance Rating
August 23, 2007 (LBO) – Lanka Ratings Agency (LRA) has confirmed an A2 long-term institutional rating of Mercantile Investments with a stable outlook. LRA is a 100 percent-owned subsidiary of RAM Holdings Berhad of Malaysia. RAM is also an affiliate of Standard & Poor’s, the world’s largest rating agency. Corrected Mercantile Investment is the third […]
Sri Lanka tea trade charges cess fund delays jeopardizing industry
August 24 (LBO) – Sri Lanka’s tea trade, the island’s main export earner, has said funds raised from a tax on exports are still not being ploughed back adequately to develop the industry despite numerous complaints. Delays and inadequate disbursements are hindering factory modernization work and tea promotion in highly competitive global beverage markets, exporters […]
Sri Lanka hosts global tea forum to discuss production, standards
August 24 (LBO) – Experts from the world’s top tea producing and consuming countries will meet in the Sri Lankan capital Colombo next week to discuss issues concerning sustainable production and food safety standards. This meeting, being organized by the Sri Lanka Tea Research Institute with the Tea Board and CTTA, will see scientists from […]