Author: lbostgadmin
Oil prices top 147 dollars per barrel
NEW YORK, July 11, 2008 (AFP) – Oil prices rocketed to records above 147 dollars on Friday as traders seized on the weak US currency, simmering tensions over crude producers Iran and Nigeria and news of a looming strike in Brazil.New York’s main oil contract, light sweet crude for August, hit a historic peak of […]
Beijing skyline rises faster, higher, stronger
BEIJING, July 12, 2008 (AFP) – As the waves of tourists converge on Beijing over the next month for the Olympics, they will look up to see a stunning new skyline that China’s leaders hope will showcase the nation as a modern world power. Thirty years ago the city was a poverty-stricken backwater studded by […]
Sri Lanka says 18 Tamil Tigers killed in fighting
July 12, 2008 (AFP) – Sri Lanka’s defence ministry said Saturday troops had destroyed Tamil Tiger bunkers and killed 18 rebels in fighting in the north of the island.Casualty figures on both sides cannot be independently verified as the defence ministry bars journalists from travelling to the frontlines.The military put its own losses at 20 […]
Sri Lanka tightens use of mobile phones to fight terrorism
July 12, 2008 (AFP) – Sri Lanka Saturday tightened mobile phone regulations and forced service providers to maintain full details of phone users as part of anti-terrorism moves. Sri Lanka, which has a population of 20 million people, has 12 million telephone subscribers, of which 10 million are mobile phones, Kariyapperuma said. Phone operators were […]
” tree
July 11, 2008 (LBO) – Sri Lankan plantations owned by the James Finlay group intend to plant rubber in a big way as part of its diversification strategy, a senior company official said.“We aim to plant rubber wherever possible. It is our number one priority,” said James Sandom, group general manager of Finlay Tea Estates. […]
Sri Lanka-India trade deal to open investment, services from August
July 11, 2008 (LBO) – The Comprehensive Economic Partnership Agreement (CEPA) to be signed between India and Sri Lanka in August will allow professionals to work in either country but with safeguards to meet local concerns, economists said.The CEPA deal will make it easier for Sri Lankan companies to invest in India in areas like […]
Sri Lanka urged to relax exchange controls
July 11, 2008 (LBO) – A top Sri Lankan businessman whose companies have invested overseas says the government should relax exchange controls to make it easier for local firms to invest abroad, especially India with which trade deals are being struck.“We need a system where the central bank gives us freedom to invest in India […]
Sri Lanka state cash flows hit by revenue shortfalls
July 11, 2008 (LBO) – Sri Lanka’s finance ministry had to rely on bank overdrafts and additional domestic borrowing to bridge cash gaps in the first five months of 2008 as revenues were below target, a government report said. The finance ministry said the cash deficit forecast for its operations by the end of May […]
‘ demands over England tour
July 10, 2008 (AFP) – Sri Lanka Cricket chiefs have agreed to try and postpone or reschedule next year’s England tour to allow its players to take part in the lucrative Indian Premier League, officials said Thursday.The tour, hastily arranged earlier this month after England suspended bilateral cricket relations with Zimbabwe, includes two Tests, three […]
‘ fees
July 11, 2008 (AFP) – Sri Lanka Cricket has agreed to raise players’ fees and perks as part of a deal to settle a long-running dispute over contracts, officials said Friday. SLC officials and player representatives thrashed out a deal over the last two days that ended four months of negotiations, amid growing resentment by […]
China says foreign direct investment up 45.6 percent
BEIJING, July 11, 2008 (AFP) – Foreign direct investment into China grew by 45.6 percent in the first half of this year, the government said Friday.Foreign enterprises invested 52.4 billion dollars in China from January to June, the commerce ministry said in a statement posted on its website. The ministry did not give separate data […]
Indian inflation at 11.89 percent
NEW DELHI, July 11, 2008 (AFP) – India’s annual inflation rate rose to 11.89 percent as the price of manufactured goods, food and fuel increased, according to the latest government data on Friday.The figure for the week ended June 28 was up from 11.63 percent for the previous week, according to the Wholesale Price Index, […]