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Hard Facts
WASHINGTON, Oct 3, 2006 (AFP) – The low-cost allure of emerging economies for Western companies is overdone once the meagre productivity of their workers is factored in, a US business group said Tuesday.The Conference Board said that fast-growing economies in China, India and eastern Europe do enjoy a comparative advantage over the United States. But […]
Saudi Funds
October 03 (LBO) – Sri Lanka is in talks with Saudi Arabia to secure over 500 million dollars to expand the island’s oil refining capacity, with the state oil company hoping to fast track the project. “We are currently carrying out a feasibility study for the project and are also in talks with the Saudi […]
Sri Lanka halves foreign investment targets
October 3, 2006 (LBO) – Sri Lanka may miss its ambitious target of attracting a billion dollars in foreign investments and instead end the year with about 500 million dollars, according to official data. The tiny Indian Ocean Island attracts on average 250 million dollars worth of investments each year, despite an ethnic conflict that […]
Sri Lanka logs 8.0% growth Jan-Sept: Treasury Secretary
October 3, 2006 (LBO) – Sri Lanka’s economy has beaten most forecasts to lodge a ‘near’ 8.0 percent growth for the first nine months, the secretary of the island’s finance ministry said, with robust performance driven by strong services, manufacturing, construction and agriculture numbers. Central Bank’s statistics director Anila Dias Bandaranaike last week warned that: […]
Native Mobile
October 02 2006 (LBO) – Nokia, the world’s largest mobile phone maker, has sold over 5,000 handsets equipped with Sinhala language settings and keypads, since they were launched in Sri Lanka last week. Sri Lanka South Asian to offer mobile technologies way back in 1989, and the current 4-million subscriber market is split between Dialog […]
Four Play
October 02, 2006 (LBO) – Dialog Telekom has picked up a radio and television frequency license, which gives them the edge to rollout a host of infotainment services ranging from television to mobile phone services. A unit of Telekom Malaysia, Dialog picked up the frequency by acquiring a 90 percent stake in Asset Media (Pvt) […]
Global rules needed to curb trade in arms components: report
LONDON, Oct 2, 2006 (AFP) – Weapons merchants are profiting from the lack of an international judicial framework to supply arms to individuals with few human rights scruples and to states under embargo, a new report said Monday.The globalization of the weapons industry has shed light on the shortcomings of existing legislation to control it, […]
ADB official calls for Asia-wide FTA, but says common market far off
MANILA, Oct 2, 2006 (AFP) – Major obstacles block Asia’s prospects of becoming a common market, but a region-wide free-trade area is a realistic goal, an Asian Development Bank official said Monday.The Philippines-based lender said 183 free trade agreements have either been signed or are being proposed or negotiated across Asia, where the share of […]
‘s top textile firm to raise 102 mln dlrs for expansion
DHAKA, Oct 2, 2006 (AFP) – Bangladesh’s biggest textile manufacturer said Monday it would raise 102 million dollars abroad to finance expansion into high value-added textiles.The company would raise 51 million dollars by issuing global depository receipts (GDRs) in foreign capital markets and another 51 million dollars through overseas bonds and shares to sponsors, the […]
Talks underway to revive Sri Lanka peace bid
Oct 2, 2006 (AFP) – A Norwegian envoy held talks Monday with top Sri Lankan government officials aimed at reviving the island’s stalled peace process and ending an upsurge in ethnic bloodshed.Government officials said Colombo hoped the envoy’s visit could lead to a breakthrough in finalising dates for talks with the Liberation Tigers of Tamil […]