All Blogs
Crude oil slumps, dragging most commodities lower
LONDON, Aug 18, 2006 (AFP) – Crude futures plunged this week, in line with many commodity prices, amid evidence of an economic slowdown in the United States and a lowering of tensions in the Middle East, analysts said. But nickel prices hit a fresh historic record on keen demand, while coffee soared on concerns over […]
‘s answer to Wal-Mart
NEW DELHI, Aug 18, 2006 (AFP) – India’s biggest private company Reliance Industries said Friday it aims to launch its first store next month as part of a plan to build an Indian version of Wal-Mart, the world’s largest retail chain. Reliance, whose main business is oil and petrochemicals, has said it plans to invest […]
Tigers name 51 children killed in air raid
COLOMBO, Aug 18, 2006 (AFP) – Sri Lanka’s Tamil Tiger rebels Friday gave the names of 51 school children killed in an airforce bombing of what they said was an orphanage in guerrilla-held territory. The rebel Liberation Tigers of Tamil Eelam (LTTE) said 51 out of 55 people killed in Monday’s air raid were children. […]
Aid workers demand help for thousands as air raids continue in Sri Lanka
COLOMBO, Aug 18, 2006 (AFP) – Government warplanes attacked Tamil Tiger targets in northern Sri Lanka Friday as aid workers demanded access to tens of thousands marooned by a week of fierce fighting that left 500 dead. Government troops used a brief respite in heavy battles to consolidate defensive lines in the northern Jaffna peninsula […]
US disaster aid expert in Sri Lanka to study refugee crisis in Trincomalee
Aug 18 (LBO) – The United States government’s international aid agency has sent a disaster expert to study the refugee crisis in the country’s eastern Trincomalee area, the US embassy in Colombo said Friday. œAccording to information gathered from United Nations and NGO sources, the U.S. Agency for International Development (USAID) estimates that at least […]
EU urges resumption of Sri Lanka peace talks
HELSINKI, Aug 18, 2006 (AFP) – The Finnish presidency of the European Union has called on the warring parties in Sri Lanka to return to the negotiating table after renewed fighting in the South Asian island nation. “The presidency urges the government of Sri Lanka and the Liberation Tigers of Tamil Eelam (LTTE) to cease […]
Not liberal
August 18 (LBO) – Sri Lankan based gas distributor Laugfs, who wants to blend and produce lubricants locally, says conditions for entering the newly liberalized market is discriminating against domestic applicants. Last month, Sri Lanka invited new lubricant players to invest in the country, following interest from a few foreign companies, but a brand must […]
Double Blow
August 18 (LBO) – Mysterious grenade attacks and pricing problems have pushed down sales of the Sri Lankan subsidiary of Indian Oil Corporation, with the firm also eyeing a price hike in September to arrest losses. The fuel retailer found hand grenades in two of its fuel sheds in the heart of Colombo on Thursday, […]
Sri Lanka economy booms despite bombs and bloodshed
COLOMBO, Aug 18, 2006 (AFP) – Sri Lanka is expected to record its highest annual economic growth in 28 years despite escalating violence in the decades-old separatist conflict, analysts said. Security has deteriorated since December with aerial bombings, artillery attacks, suicide bombings and fierce face-to-face confrontations that have officially claimed at least 1,500 lives. However, […]
Clear Run
August 17 (LBO) – Sri Lanka has got two bids with German and Malaysian funding to build 16 flyovers and interchanges in Colombo over two years, officials said.A group of local construction firms with funding from German state bank KfW and a Malaysian firm backed by Malaysia’s Export-Import Bank, put in bids. The government has […]