Author: lbostgadmin
Oil prices plunge to US$114 after dollar firms
NEW YORK, August 22, 2008 (AFP) – Oil prices shed more than six dollars a barrel Friday after the dollar firmed and as the world’s second-largest pipeline appeared set to reopen. New York’s main contract, light sweet crude for October, fell 6.59 to close at 114.59 dollars a barrel. The benchmark futures contract was 82 […]
British economic data shows slow growth as inflation spikes
LONDON, August 22, 2008 (AFP) – Britain’s economy stopped growing in the second quarter of 2008, recording the weakest quarterly growth rate for 16 years and leaving the country on the brink of recession, analysts said Friday. To recieve instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to 678 […]
Low cost Internet phone revolution beckons for India
NEW DELHI, August 23, 2008 (AFP) – Battle lines are being drawn after India’s telecoms regulator called for full-blown telephone services via the Internet, paving the way for another fall in the nation’s already cheap call rates. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to 678 […]
‘s Kingfisher Airlines goes international with London route
NEW DELHI, August 23, 2008 (AFP) – India’s Kingfisher Airlines has announced it will launch its first international flight from the high-tech southern city of Bangalore to London next month. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to 678 The daily non-stop Airbus A330-220 service to […]
‘s Condor maintain flights
Aug 23, 2008 (LBO) – Sri Lanka tourism promotion office said it is negotiating lower airport fees and providing marketing support to keep Germany’s Condor charter flying to the country, during the 2008 winter season. “Condor’s uninterrupted operation every fortnight to Colombo will ensure a steady flow of German visitors to Sri Lanka,” Sri Lanka […]
Offshore Firms
Aug 22, 2008 (LBO) – Sri Lanka is developing a new policy and rules for setting up offices of foreign companies in the island, with plans to increase a minimum deposit requirement, an official said.A higher deposit requirement – which is still to be decided – will only apply to new companies, the official said. […]
Sri Lanka to host South Asia economic summit on Aug 28
Aug 22, 2008 (LBO) – Sri Lanka will host a South Asian Economic Summit (SAEA) from August 28, where civil society, academics, private sector and state representatives can debate economic issues, a Colombo-based think thank said. Former Nepalese finance and foreign minister Bekh Thapa, former Bangladeshi foreign minister Kamal Hossain, former SAARC secretary generals Ibrahim […]
Loss Assessment
Aug 22, 2008 (LBO) – Sri Lanka’s John Keells Holdings (JKH) said a write-down at its bunkering unit could amount to 1.3 billion rupees after the firm lost a tank farm and a tax holiday, but the group was hopeful of capping losses at 704 million rupees.Following a Supreme Court decision that cancelled its tax […]
Sri Lanka to close polling stations if there is violence: monitor
Aug 22, 2008 (LBO) – A Sri Lankan elections watchdog says it has been assured by the elections commissioner that polling stations where violence or irregularities take place at Saturday’s provincial council polls would be closed. Rodrigo quoted the elections commissioner as saying that there had been no violence in the last 36 hours after […]
Oil prices spikes to US$120 amid geopolitical tension
NEW YORK, August 21, 2008 (AFP) – Oil prices rocketed higher Thursday as traders tracked geopolitical tensions between the United States and Russia, a weak dollar and a large drop in US motor fuel reserves. New York’s main oil futures contract, light sweet crude for delivery in October, soared more than six dollars to 122.04 […]
‘s iPhone to launch in India on Friday
NEW DELHI, August 22, 2008 (AFP) – Apple’s iconic iPhone was slated to make its debut Friday in India, home to the world’s fastest-growing mobile market, officials said. The 3G or third generation phone will sell for more than triple its US price tag in India, which has emerged as a key battleground for makers […]
‘s HNB Assurance June net drops, revenue improves
Aug 22, 2008 (LBO) – Sri Lanka’s HNB Assurance June quarter net profit slipped three percent from a year ago as claims increased and the life insurance fund expanded, results released to the stock exchange show. HNB Assurance earnings per share increased to 0.28 rupees from 0.29 a year ago while net assets per share […]