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‘s Ceylon Tea Services reports slow down in tea bag exports
Aug 24, 2007 (LBO) – Tea bag exporter Ceylon Tea Services Ltd., part of the Dilmah brand group, said net profit fell 7.1 percent to 152 million rupees for the quarter ended June 30, 2007. Revenue fell 1.2 percent to 738 million rupees in the same period, according to interim results. The company is one […]
‘s
SINGAPORE, Aug 24, 2007 (AFP) – Asian economies should weather any fallout from the current turmoil in global financial and stock markets sparked by a crisis in the US subprime credit sector, Standard and Poor’s said Friday.Quick action by central banks worldwide, including those in Asia, to inject liquidity into the financial system has eased […]
Walkman powered by carbo diet
TOKYO, Aug 24, 2007 (AFP) – Bread and potatoes are sources of human energy, and now a carbohydrate diet is also powering up a Walkman. Sony was also hit last year by the recall of millions of laptop batteries over fears they could catch fire.Japanese technological giant Sony Corp., hoping to be eco friendly, said […]
No more live sex-changes on Chinese TV
BEIJING, Aug 24, 2007 (AFP) – China has banned a blood-spattered genre of reality TV shows where patients undergo sex-change operations and cosmetic surgery live in front of mass audiences.It is estimated that one million Chinese undergo plastic surgery every year, according to state media reports.The “exhibitionist” programmes serve the sole purpose of boosting viewer […]
Dollar falls against euro on ECB rate expectations; yen slips
NEW YORK, Aug 23, 2007 (AFP) – The dollar traded mainly lower Thursday as the euro gained ground on heightened expectations of an interest rate hike next month by the European Central Bank.But the greenback firmed against the yen, which came under selling pressure after the Bank of Japan held its key benchmark lending rate […]
Ease emergency laws, media rights group tells Sri Lanka
Aug 24, 2007 (AFP) – A media rights group Friday urged Sri Lanka to ease emergency laws that curtail freedom of expression and warned of worsening conditions in one of the world’s most dangerous places for journalists.Working conditions have deteriorated in the Tamil-populated northern district of Jaffna since fighting erupted there between government troops and […]
Sri Lanka rupee tests new lows against greenback; cash rates stabilize
August 23, 2007 (LBO) – The Sri Lanka rupee tested new lows against the greenback Thursday while overnight cash rates moderated after the monetary authority relaxed access to its discount window.In mid-day trade the spot dollar changed hands around 112.25 rupees with offers at 112.30 levels, dealers said. Official intervention was seen in the market […]
Green Path
August 23, 2007 (LBO) – The spot dollar peaked at 112.35 against the Sri Lanka rupee Thursday as the local currency sought the next resistant level, dealers said. In the cash markets interbank rates remained around 20 percent with more access to the central bank’s discount window. The market closed at 112.30/40 rupees against the […]
Good Cover
August 23, 2007 (LBO) – Allianz Lanka Insurance Company, a unit of German insurance giant Allianz SE said premium income grew 34 percent to 246 million rupees in the six months to June. Its pre-tax profits for the period shot up 275 percent to 17.4 million rupees from 4.6 million in 2006, the firm said […]
Sub Prime
August 23, 2007 (LBO) – Fitch Ratings Lanka has downgraded the rating outlook on Commercial Leasing Company (CLC) to ‘negative’ from ‘stable’ but said it was confirming the firm’s A- lka investment grade rating due to implied support from key shareholders. CLC’s major shareholders are Commercial Bank of Ceylon rated ‘AA+ (lka)’ and Singer (Sri […]