Author: lbostgadmin
Sri Lanka Treasury Secretary tenders resignation
July 28, 2008 (LBO) – Sri Lanka’s Treasury Secretary P B Jayasundera has submitted his resignation to President Mahinda Rajapakse following a court order that faulted him over a privatization deal and a tax holiday, an official said.Reports said Jayasundera had offered to resign soon after the order was made last week, but the government […]
China on brink of becoming dominant sporting power
BEIJING, July 28, 2008 (AFP) – China is on the brink of becoming the most dominant sporting power in the world, with expectations running high that they will bounce the United States from the top of the Olympic medal table.At Athens four years ago, China finished with 32 gold, 17 silver and 14 bronze medals […]
Typhoon lashes Taiwan, hitting schools and travel
TAIPEI, July 28, 2008 (AFP) – Typhoon Fung-wong slammed into Taiwan’s east coast Monday, bringing fierce winds and heavy rains that forced the closure of schools and offices across the island and severely disrupted travel. The stock market was closed for the day, along with all schools and offices in Taiwan, railway traffic was halted […]
After boom years, inflation bites in Vietnam
HANOI, July 28, 2008 (AFP) – Hit with Asia’s highest inflation rate and a surprise 30 percent hike in petrol prices last week, some Vietnamese are rediscovering bicycles and the frugal lifestyle of bygone years. Galloping consumer prices — fuelled by record global oil, food and commodity costs — have rocked many countries, but few […]
Sri Lanka shifts site of planned second international airport
July 28, 2008 (LBO) – Sri Lanka’s ports and aviation ministry has stopped work on a controversial new international airport in the island’s south and decided to shift it to a new location. Sri Lanka has only one international airport at present and needs a second one under international air safety rules so flights can […]
Malaysia to tries to reflate bursting palm oil bubble: report
KUALA LUMPUR, July 27, 2008 (AFP) – Malaysia will put in place a series of measures to stabilise plummeting global palm oil prices including selling off crude stocks, a report said Sunday.Peter Chin, minister of plantation industries and commodities, told the Sunday Star newspaper the government wanted to make sure that the almost 25-percent drop […]
Sri Lanka pepper trade calls for end to Indian restrictions
July 28, 2008 (LBO) – Sri Lanka’s pepper trade has demanded an end to import restrictions imposed by India that they say violates the spirit of a free trade accord between the two countries.The call was made by Gulam Chatoor, a former chairman of the Spices and Allied Products Association, on the eve of a […]
Combined Entity
July 28, 2008 LBO) – Sri Lanka’s finance ministry plans to bring a proposed new law to amalgamate six regional development banks (RDBs) to parliament early next month, a senior official says. The main stake holders of the banks last week gave the green light to the proposed act which is now being examined by […]
Sri Lanka stocks perk up as control of AMW changes hands
July 28, 2008 (LBO) – Sri Lankan stocks closed higher Monday on gains in heavyweight stocks with the take over of Associated Motorways (AMW) by a Dubai construction firm driving turnover to 7.7 billion rupees. JKH, AEC and state funds which owned AWM stakes sold at a premium. “Any premium would be considered quite advantageous […]
South Asian meet to open in Sri Lanka focussing on trade and terror
July 26, 2008 (AFP) – An eight-member South Asian meeting opening in Sri Lanka Sunday will focus on boosting regional trade and stepping up moves to combat terrorism, Colombo’s foreign minister said Saturday.Officials of the South Asian Association for Regional Cooperation (SAARC) will start meetings Sunday in the run-up to a main two-day summit starting […]
‘s Mendis says he owes it to Murali
July 27, 2008 (AFP) – Sri Lankan spinner Ajantha Mendis said that team-mate Muttiah Muralitharan played a key role in his success against India in his debut Test here. Mendis took eight wickets in the match as Sri Lanka thrashed India by an innings and 239 runs to gain a 1-0 lead in the three-Test […]
Key points of compromise text issued by WTO head
GENEVA, July 27, 2008 (AFP) – Here is a summary of key proposals put forward by the head of the World Trade Organization in a bid to break the deadlock among the 153 member states and finally secure a new global trade pact.AGRICULTURAL SUBSIDIES Proposals drawn up by the WTO’s Director-General, Pascal Lamy, envisage sweeping […]