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August 28, 2006 (LBO) – Just over ten foreign and local firms put in bids for a license to market lubricants in Sri Lanka, when offers closed on Monday, a top official said. Sri Lanka threw open its lubricant market in July, calling for bids from interested investors to blend lubricants locally or import and […]
” over global warming
KUMAMOTO, Japan, Aug 27, 2006 (AFP) – A Japanese bank is doing its bit to raise interest over global warming, in more ways than one. The Kumamoto Family Bank on the southern island of Kyushu has taken eco-consciousness to a new level by basing its interest rate on the average temperature, giving customers a reason […]
‘s mission impossible
Aug 27, 2006 (AFP) – The new head of Sri Lanka’s truce monitors takes over a team cut by nearly half this week amid warnings by his predecessor of “mission impossible” to satisfy both sides in the vicious separatist conflict. Former Norwegian army chief Lars Solvberg will run a 30-strong group after members from the […]
New clashes in Sri Lanka as foreigners head for safety
Aug 27, 2006 (AFP) – The Red Cross ferried 150 foreign nationals to safety from the embattled Jaffna peninsula Sunday as the Sri Lankan military claimed fresh fighting left 12 Tamil Tiger rebels dead.Aid agencies complained they have been unable to reach many of the 200,000 who have fled fighting from across the island’s northeast […]
Independent central bank needed for stable cost of living in Sri Lanka: economist
August 27, 2006 (LBO) – Sri Lanka should have an independent central bank which can conduct prudent monetary policy in order to have low inflation, a prominent European economist said. “You know richer people, who can get the help of good accountants good advisors can normally avoid the biggest suffering even from inflation,” says Deutche […]
Battle Plan
August 26, 2006 (LBO) – Sri Lanka is trying to clinch a free trade deal with Canada to push its apparel exports, with the industry also promised a government goodie bag like cheap land and electricity, to battle China and Vietnam. “We are working with the government for a duty free deal with Canada it […]
Sri Lankan rebels release policeman after nearly one year
26, 2006 (AFP) – A Sri Lankan policeman was released Saturday after being held for nearly a year by Tamil Tigers when he pursued a suspected British paedophile into rebel-held territory, ceasefire monitors said. The officer and two others were seized in September last year after they went into the jungle and crossed into the […]
Explosion kills six in Sri Lanka as foreigners prepare to ship out
Aug 26, 2006 (AFP) – A bomb killed six Sri Lankan soldiers and wounded 11 Saturday as they cleared up after fierce fighting with Tamil Tiger rebels in the besieged northern Jaffna peninsula, a military source said. In some areas fuel was being sold at four times the normal price and piped water was available […]
Rocket Ride
August 25, 2006 (LBO) – Cheque usage in Sri Lanka has rocketed up, after an image clearing system is speeding up clearing, an official said. Sri Lanka’s central clearing house, LankaClear (Pvt) Ltd says usage has almost doubled within months of introducing an image clearing and truncation system, which has eliminated the physical transportation of […]
Oil prices spike, nickel and coffee hit peaks
LONDON, Aug 25, 2006 (AFP) – Crude oil prices rebounded, while nickel hit a historic peak and coffee futures in London reached their highest level in seven years in a volatile trading week for commodities. On Friday, the Commodities Research Bureau’s index of 17 commodities finished at 336.20 points, up from 330.62 points the previous […]