All Blogs
IMF to discuss world defiance of expensive oil
PARIS, Sept 10, 2006 (AFP) – The “third oil shock”, as some have dubbed the tripling of oil prices since 2002, has been remarkably well-absorbed by the world economy, analysts say.Contrary to past experience, the sharp rise in prices has not sent the world tumbling into recession, revealing a number of key shifts in the […]
World economy has strong heartbeat but with tremors
PARIS, Sept 10, 2006 (AFP) – The IMF, World Bank and G7 finance ministers will say that the world economy has a vibrant heartbeat when they meet next week in Singapore, but tremors are present in the form of slowing US growth and high oil prices.The International Monetary Fund is expected to give the global […]
Asian nations want more muscle to flex at IMF
TOKYO, Sept 10, 2006 (AFP) – Asian nations want to wield more power at the International Monetary Fund and other global forums to reflect their growing economic clout but Europe seems reluctant to cede influence, analysts say.“I think the G7 has to be fundamentally changed to include countries such as China, India and Russia, and […]
IMF seeks new lease on life in middle age
WASHINGTON, Sept 10, 2006 (AFP) – Six decades after it was created to inject stability into the ruins of the post-war financial system, the IMF is today trying to forge a new role that better represents a globalised economy.The International Monetary Fund is expected to adopt an interim voting reform to give a greater say […]
Sri Lankan domestic cricketers to get big pay hike
Sept 10, 2006 (AFP) – Sri Lanka’s domestic cricketers will get a handsome raise in match fees for the coming season in a bid to make local competition more professional, a top official announced here on Sunday.“We have a 300 percent pay hike earmarked for players in a new domestic competition for the 2006-07 season,” […]
Tigers accuse Sri Lanka of scuttling Norway peace bid, toll mounts
Sept 10, 2006 (AFP) – Troops and Tamil Tigers fought fierce battles in northern Sri Lanka Sunday, leaving scores killed, officials said as the rebels accused Colombo of ignoring moves by Norway to end the latest bloodshed.The rebel Liberation Tigers of Tamil Eelam (LTTE) said they were in talks with peace broker Norway to withdraw […]
Sri Lanka says scores of rebels, soldiers killed in latest fighting
Sept 10, 2006 (AFP) – Sri Lanka said Sunday that its troops had killed scores of Tamil Tiger rebels in fierce weekend fighting in the northern Jaffna peninsula that also left 28 soldiers dead. Mortar and artillery duels along a de facto frontline on the contested peninsula killed the 28 and left 125 wounded, a […]
Sri Lanka fighting kills 26 soldiers
Sept 9, 2006 (AFP) – At least 26 troops were killed and over 125 wounded Saturday in new fighting as Tamil rebels resisted an army advance into guerrilla-held territory in northern Sri Lanka, military sources said.Hundreds of Sri Lankan troops were involved in the offensive along the de facto border between government- and rebel-held areas […]
Better Mix
Sept 08, 2006 (LBO) – Local businessmen have been asked to diversify exports to Pakistan outside of a few traditional commodities, and fast, to fully exploit bilateral trade between both countries.Top exports to Pakistan Sri Lanka’s second largest trading partner in South Asia after India are largely confined to coconut products, rubber, tea, vegetable products, […]
Shrinking Wallets
Sept 08, 2006 (LBO) – Sri Lanka™s clothing trade, which employs about a million workers, is opposing trade union efforts to jack up minimum monthly wages to 10,000 rupees, due to spiraling costs and tight margins. Trade unions have asked the government to raise wages for all industries to a minimum of 10,000 rupees a […]