Author: lbostgadmin
Sri Lankan low grown tea prices on the decline
Aug 15, 2008 (LBO) – Prices of Sri Lankan low grown teas, which make up more than half the crop, fell for the third week running at this week’s Colombo auctions, brokers said. However, high grown teas produced by the listed plantations companies, stayed firm as erratic weather created fears of tight supply. The brokers […]
Extended Deadline
Aug 15, 2008 (LBO) – Directors of Sri Lankan banks who reach a term limit of nine years in 2008, would be allowed to be in office for a further three years, the Central Bank which is the financial regulator, said.The direction gives effect to a Supreme Court ruling made in July 2008 against a […]
Hub Race
Aug 15, 2008 (LBO) – Sri Lanka’s hub port of Colombo is facing growing competition from other harbours in the region which are being built up to grab a bigger share of India’s increasing trade, industry officials said. The latest threat comes from the south Indian port of Chennai which has just called for fresh […]
India have to be positive against Mendis, says Dhoni
August 14, 2008 (AFP) – India captain Mahendra Singh Dhoni said his batsmen needed to be positive against Sri Lanka’s latest spin sensation Ajantha Mendis in the upcoming one-day series.“He (Mendis) is a bit different and the batsmen need some time to settle in. We have to be positive, but ultimately it comes down to […]
Oil prices up at US$113 after US inventory report
NEW YORK, August 13, 2008 (AFP) – Oil prices rallied Wednesday after a weekly US government snapshot showed a surprisingly sharp drop in gasoline stockpiles amid the peak demand season. Oil prices bounced back strongly after sliding to four-month lows Tuesday after Russia announced the end of military operations in Georgia and as the International […]
Vietnam aiming for seven to eight pct growth: state media
HANOI, August 14, 2008 (AFP) – The Vietnamese government has targeted economic growth of seven to eight percent in 2009 and aims to win its fight against soaring inflation, state media said Thursday.Prime Minister Nguyen Tan Dung on Wednesday asked officials to draw up a plan to achieve the growth objective, and to bring inflation […]
‘s expects inflation to fall to 6.0-pct as commodity bubble bursts
SHANGHAI, August 14, 2008 (AFP) – China’s consumer inflation is expected to continue to slow in the rest of this year and in 2009 as global commodity prices ease, Chinese state media reported Thursday.China’s consumer price inflation fell to 6.3 percent in July, off from a nearly 12-year high of 8.7 percent hit in February […]
Recession stalks shrinking eurozone economy
BRUSSELS, August 14, 2008 (AFP) – The eurozone economy contracted for the first time ever, with output falling 0.2 percent in the second quarter increasing the threat of recession driven by a sharp global downturn. The initial official figures come amid rising concern that recession, two consecutive quarters of contraction, is now stalking the 15-nation […]
Sri Lanka eastern Trincomalee town faces power outage
Aug 14, 2008 (LBO) – Sri Lanka’s eastern port town of Trincomalee is facing a power outage after a high tension line feeding the area was hit by a freak weather, a senior official of the island’s power utility said.Sri Lanka’s national grid is operated by the state-run CEB, which distributes most of the island’s […]
Sri Lanka fighting forces tens of thousands to flee: ICRC
August 14, 2008 (AFP) – Tens of thousands of people are on the run in northern Sri Lanka where fighting between government troops and Tamil rebels has intensified in recent weeks, the Red Cross said Thursday.Some of the displaced who have headed to the Tamil Tigers’ political capital, Kilinochchi district, had been on the run […]
Registered Therapy
Aug 14, 2008 (LBO) – Sri Lanka’s ministry of indigenous medicine and the tourist board plan to give formal training to employees of massage parlours and health centres to improve their image and standardize their services. Authorities have set up a centre where practioners would be trained and certified in massage as well as eastern […]
‘s Hikkaduwa tourist hotspot chockfull at beach fest
Aug 14, 2008 (LBO) – A beach festival in Sri Lanka’s Hikkaduwa coastal tourist town has filled up hotels to full capacity and set the stage for an annual event that will attract young people from the region, the island’s tourism authorities said. Managing Director of Sri Lanka Tourism Promotions Bureau Dileep Mudadeniya says more […]