Author: lbostgadmin
Euro ticks higher against dollar, oil down
NEW YORK, August 12, 2008 (AFP) – The euro ticked slightly higher against the dollar Tuesday in a market awaiting a fresh batch of indicators on the fragile economic health of the eurozone. “On Thursday, weak GDP (gross domestic product) data from Germany and the eurozone will highlight the problems of the European economies, putting […]
‘s Reliance in tie-up with famed toy store Hamleys
MUMBAI, August 13, 2008 (AFP) – Indian corporate giant Reliance announced a tie-up with famed British toy retailer Hamleys, promising to bring India’s children “world-class toy stores.” Reliance Retail, part of the Reliance Group conglomerate, plans to open two Hamleys stores in Mumbai and New Delhi in 2009 with a total of 20 set to […]
” to restart WTO talks
NEW DELHI, August 13, 2008 (AFP) – India urged developed nations to return to the negotiating table to hammer out a new global trade deal — but only if they are willing to give and not just look for what they can get.The latest round of World Trade Organisation (WTO) talks, which saw emerging powers […]
Rat snacks can solve world food price crisis: Indian official
PATNA, August 13, 2008 (AFP) – Eating rats is the best way for rich and poor people to solve the global crisis of rising food prices, an Indian official said Wednesday as he unveiled his plan to put rodents on menus.Regular rat snacks would translate into fewer rodents eating precious grain stocks — 50 percent […]
Britain facing increased risk of recession: BoE governor
LONDON, August 13, 2008 (AFP) – The head of the Bank of England forecast on Wednesday that Britain faced increased risk of recession with economic growth set to slow further and inflation expected to spike.“It is bound to be the case there will be a quarter or two of negative growth,” BoE governor Mervyn King […]
Low Tones
Aug 13, 2008 (LBO) – Profits at Sri Lanka’s Dialog Telekom group, a unit of Telekom Malaysia, fell 78 percent in the June 2008 quarter to 537 million rupees, according to interim accounts filed with Colombo Stock Exchange. The unit had lost 196.4 million for the six months, down from 349 million rupees for the […]
Sri Lanka tea exporters want more money for marketing
Aug 13, 2008 (LBO) – Sri Lankan tea exporters have called for more money to be spent to promote and market Ceylon tea and develop local brands.Tea exporters association chairman Jayantha Keragala said a greater part of the funds collected from the four rupees per kilo tea export cess should be allocated to exporters. If […]
Harbour Move
Aug 13, 2008 (LBO) – The chairman of the Sri Lanka Ports Authority (SLPA) Saliya Wickramasuriya has been asked to resign, Sri Lanka’s ports and aviation minister Chamal Rajapaksa said. Shipping lines complain of delays in navigation because of the closure of the port’s northern entrance owing to security concerns. They also complain of delays […]
Sri Lanka stocks almost flat
Aug 13, 2008 (LBO) – Sri Lankan stocks remained virtually flat Wednesday while retail activity intensified on certain counters on speculative trading, brokers said. The All Share Price Index closed 0.17 percent (4.05 points) higher at 2,451.23 while the more liquid Milanka fell 0.33 percent (9.69 points) to 2,884.58. Turnover was 293.95 million rupees with […]
No Crisis?
PARIS, August 12, 2008 (AFP) – Oil demand is slowing sharply in advanced economies as people ease up on driving, supplies are rising and the market is set to cool well into next year, the IEA said on Tuesday. But it is too soon to declare the price boom over for now, the IEA warned, […]
Gas Dates
Aug 12, 2008 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation’s (CPC) entry into liquid petroleum gas (LPG) retailing has been pushed to December due to procurement delays, an official said. CPC runs a 50,000 barrels a day refinery, and is the island’s largest petroleum distributor with more than two thirds of the petrol and […]
India fail to crack Mendis mystery
August 12, 2008 (AFP) – India, reflecting on their Test series loss to Sri Lanka, have reason to believe they were beaten not so much by their hosts as by unorthodox spinner Ajantha Mendis, who remained an unfathomable mystery.The 23-year-old army officer badly bruised India’s batting pride during his team’s 2-1 victory in the series […]