Author: lbostgadmin
Oil prices sink despite Georgian conflict
NEW YORK, August 11, 2008 (AFP) – Crude oil prices sank Monday as the market worried about weakening demand, particularly in the eurozone and in China, after Chinese oil imports fell sharply.New York’s main contract, light sweet crude for September delivery, fell 75 cents to close at 114.45 dollars a barrel. The contract hit an […]
Dollar gains against Euro, commodities
TOKYO, August 12, 2008 (AFP) – The euro languished at six-month lows against the dollar in Asian trade on Tuesday as traders continued to focus on the deteriorating health of the eurozone economies, dealers said. Falling oil prices also helped prop up the greenback, they said. The euro was at 1.4898 dollars in Tokyo morning […]
‘s wholesale inflation hits 7.1-pct in July 2008
TOKYO, August 12, 2008 (AFP) – Japanese wholesale inflation hit a 27-year high of 7.1 percent in July on soaring commodity costs, the central bank said Tuesday, adding to gloom about the health of Asia’s largest economy. The fresh signs of pain in the manufacturing sector came on the eve of figures expected to show […]
Standard Chartered bank shakes off credit crunch as profits soar
Aug 12, 2008 (LBO) – Standard Chartered said that its push into Asia, Africa and the Middle East had fuelled a profits surge at the emerging markets bank despite a jump in bad debts caused by the credit crunch, AFP news agency reported.Standard Chartered, Britain’s fourth-biggest retail bank by market value, said in an earnings […]
Australia PM pushes Asia Pacific Community idea
SINGAPORE, August 12, 2008 (AFP) – Australian Prime Minister Kevin Rudd Tuesday pushed ahead with his vision of an Asia Pacific Community but played down comparisons with the European Union following criticism from his predecessors.Speaking to diplomats, academics, business executives and students at a public lecture in Singapore, Rudd said his proposal, first floated in […]
Sri Lanka Brown & Co eyes energy saving market
Aug 12, 2008 (LBO) – Household goods retailer Brown & Company plans to import and promote energy efficient electrical items from India to meet growing demand in Sri Lanka where electricity costs are among the highest in the region. Brown & Company has signed an agreement with Indian electrical appliance manufacturer Havells to import energy […]
Sri Lanka warned by India it might not win war with rebels: report
SINGAPORE, August 12, 2008 (AFP) – India has warned neighbouring Sri Lanka that it may not be able to win an ongoing war against separatist Tamil Tiger rebels despite recent military gains, a report said Tuesday. Indian National Security Advisor M.K. Narayanan told the Straits Times newspaper that Sri Lanka’s Liberation Tigers of Tamil Eelam […]
Humpbacks doing better but porpoises face extinction
GENEVA, August 12, 2008 (AFP) – Two whale species, the humpback and the southern right, are less under threat from becoming extinct, a new study released on Tuesday showed.However, smaller cetaceans, including a species of porpoise, were facing a greater risk of extinction, said the study, which was carried out by the International Union for […]
Twin Growth
Aug 12, 2008 (LBO) – It’s easy to miss the business strategy behind a glitzy re-launch of Sri Lanka Telecom’s wire-line services, as the island’s only copper wire networked telco kicked off a new campaign, cutting connection charges. Broadband, or fast internet access, is a high growth area for SLT together with mobile services. Mobitel, […]
Fishing Support
August 12, 2008 (LBO) – The United States has finished re-building the third fishery harbour in southern Sri Lanka which was hit by the 2004 Asian tsunami, the US embassy in Colombo said.USAID has also helped renovate the Hikkaduwa and Mirissa fishery harbours as part of a 5 million US dollar project, helping a total […]
On Board
Aug 12, 2008 (LBO) – The rapid growth of the world’s shipping fleet is opening up employment opportunities for Sri Lankan seafarers but training is constrained by a shortage of berths for cadets to get seagoing experience, officials said.The worldwide shortage of officer grade seafarers is growing and with more ships being built at a […]
Disputed Charge
Aug 12, 2008 (LBO) – Sri Lankan shippers have rejected the report of a mediation committee that probed a dispute over cargo handling charges in Colombo port, saying the matter remains unresolved. The council, an apex body representing the island’s exporters and importers, has waged a long campaign against the terminal handling charge imposed by […]