Author: lbostgadmin
Chavez nationalizes Bank of Venezuela
CARACAS, August 1, 2008 (AFP) – Leftist President Hugo Chavez on Thursday said he will nationalize the Bank of Venezuela, one of the country’s largest, and has asked the bank’s Spanish owners, Grupo Santander, for a meeting to set a price for the deal. “We’re going to nationalize Bank of Venezuela. I’m calling on (Grupo […]
WTO talks on sticking point continue at technical level: Lamy
GENEVA, August 1, 2008 (AFP) – Talks at a technical level are under way at the World Trade Organization on safeguard issues that ended marathon negotiations on a global trade deal this week, WTO head Pascal Lamy revealed on Friday.He told journalists it was necessary to overcome the safeguard technical issue that had caused the […]
India plans global 3G spectrum auction
NEW DELHI, August 1, 2008 (AFP) – India said Friday it plans a global auction for the airwaves needed to offer high-speed third generation or 3G mobile phone services, a move that could rake in billions of dollars for the government.The long-awaited decision will allow foreign players the chance to enter the world’s fastest-growing mobile […]
Sri Lanka, Pakistan defence deal proposed
August 1, 2008 (AFP) – Pakistan, a key supplier of small arms to Sri Lanka, has proposed a defence pact to boost military cooperation between the two countries, Pakistani officials said Friday.Pakistan Foreign Minister Shah Mahmood Qureshi made the offer to his Sri Lankan counterpart Rohitha Bogollegama on the sidelines of a South Asian meeting […]
Sri Lanka starts small with bio-fuels
Aug 01, 2008 (LBO) – Sri Lankan renewable energy experts have started experimenting with bio-fuel production as an alternative to expensive fossil fuels but are constrained by lack of funds and land for commercial production.A pilot project on bio diesel initiated in Nikaweratiya in the north western province will soon be converted to a community […]
Sri Lanka tea export earnings up sharply in first half
Aug 01, 2008 (LBO) – Sri Lanka’s tea export earnings hit a new high in the first half of this year compared with the same period in previous years, tea brokers said. Stock brokers said the high prices enjoyed by tea exporters were likely to boost the profits of listed plantations companies, which have drawn […]
Express Deal
Aug 01, 2008 (2008) – The Sri Lankan government plans to award a Chinese firm the contract to build a long-delayed expressway linking the capital Colombo with the island’s sole international airport north of the city. Government officials said Cabinet approval is to be sought this month to grant permission to the Chinese firm to […]
Sri Lanka stocks extend gains, choppy trading seen ahead
Aug 01, 2008 (LBO) – Sri Lankan stocks closed higher Friday ending the week in positive territory with heavy trading seen in John Keells Holdings, Associated Motorways and Vallibel Power Erathna.Activity could pick up with listed firms reporting quarterly results but brokers said trading was likely to remain volatile and the market could dip on […]
Sri Lanka inflation slows to 26.6 percent in July
July 31, 2008 (LBO) – Sri Lanka consumer inflation in the capital Colombo slowed to 26.6 percent in July 2008 from a record 28.2 percent in June, the government’s statistics office said. High inflation has also made it more expensive for companies to borrow. In the month of July prices rose 0.2 percent compared with […]
Minnows dream of hogging limelight
SINGAPORE, July 31, 2008 (AFP) – Powerhouse nations like China, the United States and Russia might grab all the Olympic gold medal attention but the world’s sporting minnows plan to grab at least some of the limelight. While some nations might whinge about winning dozens of medals, others will be glad of just one — […]
Sri Lankan attack defied by Sehwag with unbeaten 91
GALLE, July 31, 2008 (AFP) – Virender Sehwag hammered a quickfire 91 not out as India raced to 151 for no loss in their first innings at lunch on the opening day of the second Test here on Thursday. The aggressive opener reached his 14th Test half-century when he cut off-spinner Muttiah Muralitharan for his […]
Wrecked WTO talks change the world trade game
GENEVA, July 30, 2008 (AFP) – Ministers saw a “new order” take hold of global trade Wednesday, with emerging economies calling the shots after WTO plans collapsed in a potentially devastating blow to millions of the world’s poor. “One thing that we can celebrate is that deals here are no longer made just by the […]