Author: lbostgadmin
Gloomy year-end picture for global economy
WASHINGTON, December 27, 2008 (AFP) – Christmas retail sales plunged in the United States, a poll showed Friday, as Japan reported record cuts in production and more signs emerged that Spain has entered a recession. A leading think tank in London also forecast the British economy would shrink by 2.9 percent next year in the […]
Petrol Saga
Dec 27, 2008 (LBO) – Sri Lanka’s main opposition United National Party (UNP) plans to file a contempt-of-court case against the government for its refusal to obey a Supreme Court order to reduce petrol prices, a media report said. The Daily Mirror newspaper said UNP wants to file a contempt-of-court case against the Cabinet, the […]
‘s fightback led by Samaraweera
DHAKA, December 27, 2008 (AFP) – Thilan Samaraweera pulled Sri Lanka out of trouble with a gutsy 91 on the second day of the opening Test against Bangladesh here on Saturday.The second and final Test starts in Chittagong on January 3. The tourists, struggling at 172-6 on Friday, were bowled out for a respectable 293 […]
‘s Murali puts Bangladesh in spin
DHAKA, December 27, 2008 (AFP) – Spin wizard Muttiah Muralitharan put Sri Lanka in a commanding position with a five-wicket haul in the opening Test against Bangladesh here on Saturday.The off-spinner grabbed 5-48 — his 66th haul of five or more wickets in a Test innings — as Bangladesh crashed to 177-9 in their first […]
Tensions mount as Pakistan shifts troops to Indian border
ISLAMABAD, December 27, 2008 (AFP) – Pakistan has redeployed thousands of troops to the border with India, officials said Friday, in a dramatic escalation of tensions with New Delhi in the wake of the Mumbai attacks.Washington urged the two sides to avoid escalating tensions and said it was touch with both countries. Indian Prime Minister […]
Sri Lanka troops expand defence lines: military
December 27, 2008 (AFP) – Government forces consolidated their positions in northern Sri Lanka on Saturday, a day after heavy fighting with Tamil Tiger rebels, the military said. In January the Sri Lankan government pulled out of a 2002 Norwegian-brokered truce with the rebels, who have been fighting since 1972 for a state for ethnic […]
Sri Lanka steps up air attacks after heavy ground battles: military
December 27, 2008 (AFP) – Sri Lankan war planes carried out attacks against suspected Tamil Tiger strongholds in the island’s north on Saturday as ground forces consolidated newly captured areas, the military said. Fighter jets carried out several sorties over territory held by the Tigers and bombed a suspected rebel meeting place and a boat […]
Bank Sale
Dec 27, 2008 (LBO) – Sri Lanka’s Ceylinco group will exit Seylan Bank, a licensed commercial bank, as part of a strategy to raise funds and repay depositors in a troubled group company, chairman Lalith Kotelawala said in a public statement. Golden Key Credit Card Company failed to repay customers who had placed funds in […]
Calming Statement
Dec 27, 2008 (LBO) – Sri Lanka’s central bank says it is ready to intervene if there is a risk to a registered or licensed financial institution following reported depositor ‘stress’ at some regulated Ceylinco group companies. Earlier on Saturday Ceylinco group chairman Lalith Kotelawala, said in a public advertisement that the group was selling […]
Car Plan
BEIJING, December 27, 2008 (AFP) – China plans to offer incentives for car owners to scrap their old models in favour of new ones, in a bid to lift the auto industry as it enters a period of crisis, state media said Saturday. The measure is part of a new package being prepared in Beijing […]
Sri Lanka tsunami recovery hampered by lack of accountability: IDA
Dec 26, 2008 (LBO) – Sri Lanka’s tsunami recovery efforts were hampered by lack of effective institutions, the International Development Association (IDA), part of the World Bank group said.“Reconstruction needs strong and accountable institutions,” it said in a statement. “Sri Lanka’s tsunami reconstruction was hampered from time to time by the dearth of effective institutions, […]
Christmas celebrations reflect on war, hardship
VATICAN CITY, December 25, 2008 (AFP) – War and economic hardship loomed over Christmas celebrations across the world Thursday, with Pope Benedict XVI denouncing greed and pleading for an end to violence in the Middle East. The pontiff lamented that “the horizon seems once again bleak for Israelis and Palestinians,” and he decried the conflicts […]