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Staying High
SINGAPORE, Oct 5, 2006 (AFP) – Oil prices rebounded in Asian trade Thursday, coming off near 8-month lows on continuing unrest in Nigeria and amid reports that OPEC members are ready to cut production in a bid to support the market, dealers said. At 11:25 am (0325 GMT) New York’s main contract, light sweet crude […]
Emirates Airlines ups flights between Colombo and Dubai
Oct 04 (LBO) – Dubai based Emirates will up weekly flights between Colombo and Dubai, ahead of Sri Lanka’s peak winter tourist season in November. The airline currently operates 13 services a week between its home base and Sri Lanka’s capital, now going up to 17 flights a week, the airline said in a statement […]
Silver Lining
October 4, 2006 (Dow Jones)–Sri Lanka’s two listed telecommunications companies are poised for record profits this year as the country’s low penetration levels and the new products on offer continue to lure subscribers, offsetting the impact of higher interest rates and any possible slowdown in the economy. Analysts expect Sri Lanka Telecom shares to rise […]
London taxi cabs set for Chinese production
LONDON, Oct 4, 2006 (AFP) – The world-famous black London taxi cab will soon be seen on the streets of China after its maker announced a multi-million-pound deal Wednesday to build 20,000 vehicles per year in Shanghai.Specialist carmaker Manganese Bronze said it had agreed a 53-million-pound (78.6-million-euro, 99.7-million-dollar) joint-venture deal with Chinese automaker Zhejiang Geely […]
‘s best friend
PARIS, Oct 4, 2006 (AFP) – A 603-carat stone found in Lesotho is the 15th biggest diamond ever found, the Gem Diamond Mining company and the government of the southern African state said on Wednesday.Some facts about famous diamonds: Carats measure the weight of a gemstone; the unit is defined as a fifth of a […]
Sri Lanka peace effort hits fresh snags
Oct 4, 2006 (AFP) – A renewed Norwegian bid to coax Sri Lanka’s government and Tamil Tiger rebels back to the negotiating table ran into fresh difficulties Wednesday amid disputes over the timing and venue for talks. Oslo’s special peace envoy Jon Hanssen-Bauer was in fresh talks with Sri Lankan officials to try to set […]
Spin tops substance in Sri Lanka talks
October 4, 2006 (LBO) – Norway has failed to secure agreement on resuming Sri Lanka’s peace talks following the latest diplomatic move, but reports suggest a breakthrough using hi-tech.Even as Norwegian peace envoy Jon Hanssen-Bauer struggled to get agreement between the government and the Tamil Tigers over a date and a venue for resuming talks, […]
Bomb defused in Sri Lankan capital
Oct 4, 2006 (AFP) – A powerful Claymore mine was found in a Tamil area of the Sri Lankan capital Colombo on Wednesday and defused by the bomb disposal squad, police said.More than 60,000 people have been killed in three decades of ethnic bloodshed in Sri Lanka.The mine, weighing 15 kilos (33 pounds), was discovered […]
Big Plans
Oct 04, 2006 (LBO) – Sri Lanka will flag off two new power plants in Kerawalapitiya, at least one of them run to on liquefied natural gas. But the island is still looking down the barrel of power cuts over the next two years. Sri Lanka’s energy demand is expected to grow at about eleven […]
Expensive Dreams
October 03 2006 (LBO) – Sri Lankans are still snapping up luxury cars like Audi’s despite stiff government taxes, to discourage vehicle sales and curb fuel consumption, officials said. “Looking at the monthly fuel consumption figures, I don’t see people reducing their usage. Neither do we see people not buying vehicles either,” Jayasundara told businessmen […]