Author: lbostgadmin
Sri Lankan industrialists, professionals oppose new trade pact with India
July 17, 2008 (LBO) – Sri Lankan industrialists and professionals have appealed to the government not to sign a new trade pact with neighbouring India, due to fears that their market shares would be cut without reciprocal access being given to the larger country. “We have to be extremely cautious when signing an agreement of […]
Sri Lanka looking for intelligence at Asian security meet
SINGAPORE, July 17, 2008 (AFP) – From Pakistan to Sri Lanka and southern Thailand, people are dying in Asia’s numerous conflict zones — but progress in resolving the unrest is unlikely at Asia’s main security meet next week, observers say. Ministers and top officials from Asia, Europe and the United States gather in Singapore on […]
Sri Lanka gets tough on UN, aid visas
July 17, 2008 (AFP) – Sri Lanka’s government on Thursday unveiled new restrictions on how long United Nations and other foreign aid staff are allowed to work on the war-torn island.The new regulations come amid a backdrop of mounting tensions between the government and the United Nations and key member states, who have been highly […]
”: Britain
July 17, 2008 (AFP) – Sri Lanka’s former colonial ruler Britain has called for trust between multi-ethnic communities to end Sri Lanka’s spiralling violence, while also voicing concerns about rights abuses.British lawmaker Mark Malloch-Brown told reporters in Colombo that London was worried about an escalation in the separatist conflict, which has left scores dead on […]
Cheap Talk
July 16, 2008 (AFP) – South Asian leaders meeting in Sri Lanka next month should agree to slash telecom tariffs in their countries to promote inter-regional trade, a policy think-tank said Wednesday.Regional policy group LIRNEasia said reducing call costs between members of the South Asian Association for Regional Cooperation (SAARC) would encourage trade and improve […]
Sri Lanka tightens monetary target for 2008
July 16, 2008 (LBO) – Sri Lanka has tightened its year-end growth target for the monetary base in 2008 to 11.75 percent from 12.50 percent, the island’s central bank, which is running a quantity targeting framework to counter inflation, said.In April 2008 the bank tightened targets further from its beginning-of-the year plan, after inflation spiked […]
US consumer prices jump 1.1 pct in June
WASHINGTON, July 16, 2008 (AFP) – US consumer prices soared at the strongest pace in 26 years in June, rising 1.1 percent from May, the Labor Department said Wednesday. On a 12-month basis, CPI was up 5.0 percent in June and core CPI was 2.4 percent higher. Core prices excluding energy and food climbed 0.3 […]
Bunning slams Bernanke as US inflation surges to 26-year high
July 16, 2008 (LBO) – US consumer prices hit a 26-year as Federal Reserve chairman Ben Bernanke came under renewed fire from a US senator for printing money willy-nilly and stampeding the world into an inflation crisis. The US Bureau of Labour Statistics said 12-month consumer prices of urban consumers surged to 5.0 percent in […]
‘s Ranatunga urges players not to ignore Tests
July 16, 2008 (AFP) – Sri Lanka’s legendary former captain Arjuna Ranatunga on Wednesday urged players to preserve Test cricket in the face of the challenge posed by the lucrative Twenty20 format.Captains of India and Sri Lanka, who begin a three-Test series here next week, endorsed Ranatunga’s comments. “As cricketers, the ultimate challenge for most […]
Bernanke faces new grilling amid economic storm
WASHINGTON, July 16, 2008 (AFP) – With market turmoil intensifying on fears of a banking crisis, Federal Reserve chairman Ben Bernanke faced a new grilling Wednesday after warning of a bumpy road to economic recovery. Bernanke was set to appear in the House of Representatives for a second day of testimony on the Fed’s semiannual […]
Oil prices rise after stunning 10 dollar fall in one hour
SINGAPORE, July 16, 2008 (AFP) – Oil prices rose in Asia on Wednesday after fears for economic growth sent prices into their steepest fall in 17 years during New York trading, analysts said. New York’s main oil contract, light sweet crude for August delivery, was 22 cents higher at 138.96 dollars a barrel. The contract […]
Global markets falter on fear over US financial crisis
LONDON, July 16, 2008 (AFP) – World stock markets struggled on Wednesday after sharp losses driven by the unfolding US financial crisis and before more testimony from US Federal Reserve chief Ben Bernanke, dealers said. Bernanke warned of economic gloom on Tuesday and his next comments are awaited anxiously by investors, reeling from the collapse […]