Author: lbostgadmin
Global stocks dive on scepticism over US mortgage rescues
LONDON, July 15, 2008 (AFP) – World equity markets and the dollar fell heavily on Tuesday on scepticism that a dramatic weekend US government rescue of two mortgage giants would contain crisis in American finance, analysts said.European equities sank after more steep losses on Wall Street and in Asia, despite an exceptional US rescue on […]
Thailand announces 46-billion-baht anti-poverty package
BANGKOK, July 15, 2008 (AFP) – Thai Prime Minister Samak Sundaravej on Tuesday announced a 46-billion-baht (1.36-billion-dollar) raft of benefits to counter poverty caused by soaring living costs.The six-month anti-poverty scheme will provide tax cuts and free services for six months to Thailand’s worst-off, Samak told a news conference broadcast on national television. The measures […]
Sri Lanka electricity utility gives Siemens deal to upgrade distribution
July 15, 2008 (LBO) – Sri Lanka’s state power utility, Ceylon Electricity Board (CEB), has given Siemens Energy a 5,309 million rupee (31 million Euro) contract to modernize and expand the medium-voltage distribution network of the capital Colombo.The contract includes expanding and modernizing a 33/11-kV transformer substation, the delivery, installation and commissioning of several medium-voltage […]
Central Bank chief takes over as Maldivian finance minister
July 15, 2008 (LBO) – Maldivian government Tuesday appointed the central bank chief Abdullah Jihad as the new minister of finance, the atoll’s information minister said. Until his appointment, Mausoom was the head of the country’s tourism promotion board. Shougee has now been appointed as the Vice Chancellor of the state-run university to be set […]
Sri Lanka acts to reduce air pollution
July 15, 2008 (LBO) – Sri Lanka’s environmental and transport ministries have made it compulsory for all vehicles to acquire vehicle emission test (VET) certificates to be eligible for revenue licenses. Two companies, CleanCo Lanka and Laugfs Eco Sri Lanka opened emission test centres Tuesday to launch the air pollution reduction scheme. Every vehicle must […]
More Time
July 15, 2008 (LBO) – Directors of Sri Lankan banks would get three more years to meet term and age limits imposed by the Central Bank after a court ruling confirmed the rules with extended transitional provisions, the financial regulator said in a statement. Court has directed new rules with the amendments to be issued, […]
‘s Dhammika Perera sells Lanka Ceramic stake to Ceylon Theatres
July 15, 2008 (LBO) – Sri Lankan businessman Dhammika Perera sold his 26 percent stake in Lanka Ceramics to its parent firm Ceylon Theatres towards the end of trading on the Colombo bourse Tuesday. “We sold at 47 rupees a share. It was bought by the Ceylon Theatres group,” said Nimal Perera, Dhammika Perera’s investment […]
Iran tops Sri Lanka donors up to May 2008, displacing Japan
July 14, 2008 (LBO) – Iran emerged as the biggest lender to Sri Lanka, displacing traditional top donors Japan and the Asian Development Bank (ADB), in the five months up to May 2008, aid commitments disclosed by the finance ministry show. Germany, which had earlier said it was cutting off aid to the island owing […]
‘s Tharanga included for India warm-up tie
July 14, 2008 (AFP) – Sri Lankan batsman Upul Tharanga was on Monday given a chance to stake his claim for the upcoming home Test series against India after being named in the 12-man squad for a warm-up match against the tourists.Sri Lanka Board XI squad: Jehan Mubarak (capt), Mahela Udawatte, Upul Tharanga, Chamara Kapugedera, […]
Computer headset lets brain control action
SAN FRANCISCO, July 13, 2008 (AFP) – It’s mind over machine: a US high-tech company has created a headset allowing computer game lovers to use their thoughts to move mountains and make objects disappear on screen.Emotiv, a San Francisco-based startup that marries neuroscience and computer engineering, says its EPOC gaming headset offers only a glimpse […]
Emirates chief slams British, EU aviation policies
LONDON, July 14, 2008 (AFP) – The president of Emirates airline on Monday criticised the policies being imposed by Britain and the European Union on airlines that he said were stifling moves towards greater efficiency.In a comment piece in the Financial Times, Tim Clark wrote that the aviation industry was going through “the greatest crisis” […]
US Treasury unveils support for Fannie Mae, Freddie Mac
WASHINGTON, July 14, 2008 (AFP) – Treasury Secretary Henry Paulson unveiled measures Sunday to bolster key US housing finance giants Fannie Mae and Freddie Mac, which were given Federal Reserve oversight and bigger credit lines.Paulson said the “central role” the two play in real estate financing meant they should continue to respond to shareholders, and […]