Author: lbostgadmin
End of bubble sees commodity prices tumble: analysts
PARIS, September 5, 2008 (AFP) – Sharp falls in commodity prices and a rise in the dollar mark the ending of one of the biggest ever speculative bubbles and a change in investor sentiment as the global economy slows, analysts say. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send […]
Sri Lanka gripped by heavy battles
September 5, 2008 (AFP) – Government forces and Tamil Tiger separatists fought heavy battles in northern Sri Lanka with another 34 combatants killed in fresh clashes, the defence ministry said Friday. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Troops encountered stiff resistance from the rebel Liberation […]
Tele Tower
Sept 05, 2008 (LBO) – An iconic telecom tower to be built in Sri Lanka’s capital Colombo may cost about 10 billion rupees (92 million US dollars) and the government wants to make it a private-public partnership, an official said.The government has said the tower could be used by television, radio and telecom firms to […]
No Bail
September 5, 2008 (AFP) – Sri Lanka’s Chief Justice Sarath Silva Friday refused bail for a Buddhist monk and slammed fellow clergymen for not showing respect to the judiciary.The monk was earlier this week remanded until September 15 when he will answer charges of using loud hailers after 10:00 pm in violation of new sound […]
Sri Lanka tea export earnings hit new high
Sept 05, 2008 (LBO) – Sri Lankan tea export earnings hit a new high up to July this year with strong demand continuing from the oil exporting regions of the Middle East and Russia, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Brokers Asia Siyaka […]
Closer Links
Sept 05, 2008 (LBO) – Trade experts have proposed reviving sea and rail links between Sri Lanka and the Indian sub-continent as part of greater regional connectivity moves required to improve trade in the region. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Transport costs outweigh trade […]
Bigger Chunk
Sept 05, 2008 (LBO) – Sri Lanka’s John Keells Holdings has raised its stake in South Asia Gateway Terminals (SAGT) to 37.97 percent by acquiring a 4.22 percent tranche from the Asian Development Bank (ADB). JKH said it had paid 4.41 million US dollars (475 million Sri Lanka rupees) when ADB exercised a put option […]
Upgrade Plan
Sept 05, 2008 (LBO) – The Sri Lanka Ports Authority plans to upgrade an aging bunker fuel storage facility it is taking over from a private firm, senior officials said. The SLPA’s approach will be to have cost-based tariff to encourage the facility’s use by suppliers and ensure greater competition in the supply of ship […]
Sri Lanka shares barely changed, heavy trading in Indian Oil unit
Sept 05, 2008 (LBO) – Sri Lankan share indices closed barely changed with heavy trading seen in LIOC, the local unit of Indian Oil Corp., as its earnings outlook improves on falling oil prices, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share […]
‘s conflict-hit and the poor under World Bank focus
Sept 04, 2008 (LBO) – The World Bank will help Sri Lanka build infrastructure and boost economic services to communities marginalized by an internal conflict and the poor, a top official has said at the conclusion of a visit to the island. “Sri Lanka clearly has so much potential which is being held back by […]
Oil prices at US$109 a barrel
LONDON, September 3, 2008 (AFP) – Oil prices closed modestly lower Wednesday as the market focused on demand amid a slowing global economy and signs that OPEC is under pressure to cut supply.New York’s main contract, light sweet crude for delivery in October, slipped 36 cents to close at 109.35 dollars a barrel after sliding […]
Euro, pound in trough in Asia ahead of rate decisions
TOKYO, September 4, 2008 (AFP) – The euro and pound languished in Asian trade Thursday but were off lows against the dollar ahead of central bank decisions in Europe, where economies are looking increasingly shaky, dealers said. The euro edged up to 1.4506 dollars in Tokyo morning trade after slipping to a seven-month low of […]