Author: lbostgadmin
German firm stops supplying blank banknotes to Zimbabwe
BERLIN, July 2, 2008 (AFP) – A German firm said Wednesday it has bowed to pressure and will stop supplying blank banknotes to Zimbabwe where the regime of Robert Mugabe fills them with ever increasing numbers of zeros. “By stopping with immediate effect we are taking into account the position of the (German) government and […]
Millions of India truckers in strike over hikes in tax, fuel price
NEW DELHI, July 2, 2008 (AFP) – An estimated four million truckers on Wednesday went on strike to press for uniform diesel prices and protest at an increase in taxes, the government and a union leader said.The action was called after talks with the government failed late Tuesday. “We had talks with the government, but […]
Dubai starts budget airline
July 2, 2008 (LBO) – The United Arab Emirates has started a new budget airline branded ‘FlyDubai’, but the carrier would be run separately from the full-service, Emirates, the company said in a statement. “FlyDubai is a simple, yet powerful call to action,” Sheikh Ahmed Saeed Al-Maktoum who also owns Emirates Airlines, said in a […]
Sri Lanka fighting kills another 29: defence ministry
July 2, 2008 (AFP) – Fresh fighting between Sri Lankan government forces and Tamil Tigers has left at least another 27 rebels and two soldiers dead, the defence ministry said Wednesday. Troops shot dead 27 rebels in the districts of Vavuniya, Mannar and Mullaitivu on Tuesday, the ministry said, adding that security forces lost two […]
Banking Code
July 02, 2008 (LBO) – Ceylinco group chairman Lalith Kotelawala has demanded the Sri Lankan Central Bank adopt its own code of corporate governance.He said in a letter to Central Bank governor Nivard Cabraal that was released to the media that he will initiate legal action if the Central Bank fails to adopt such a […]
Free Flow
July 02, 2008 (LBO) – Sri Lanka’s Central Bank has relaxed exchange controls for emigrants in a move it said aimed at further promoting stable capital mobility and improving investor confidence in the country. The new rules allow previous emigrants to take out without any restriction balances in blocked accounts where their wealth had been […]
Sri Lankan share prices ease further
July 02, 2008 (LBO) – Sri Lankan shares continued their slide Wednesday with investor nervousness about a forthcoming anniversary of anti-Tamil riots that sparked the ethnic war adding to concerns over high inflation and interest rates, brokers said.The All Share Price Index fell 0.27 percent (6.61 points) to end at 2,433.35 while the more liquid […]
Sri Lanka British embassy land; gentry wanted
July 01, 2008 (LBO) – The former British High Commission property in Sri Lanka is for sale with the owners preferring the highest bidder to have a high pedigree as well, the auctioneers said. This could value the deal as much as 2.5 billion rupees, making it the single largest land auction in the island.The […]
” in hard times
July 01, 2008 (LBO) – Sri Lanka must now switch to an “investment driven economy” with businesses and people ‘going lean’ to survive and come out of the difficult times the island is going through, a productivity expert said. Lean production and working methods will help increase productivity and the standard of living as well […]
Sri Lanka inflation may fall after August: Central Bank
July 01, 2008 (LBO) – Sri Lanka’s central bank said inflation which hit the highest levels in the country’s record keeping history in the first half of 2008, may start to fall from August, in the wake of better monetary policy.Sri Lanka’s inflation measured by the Colombo Consumer’ Price Index rose to 28.2 percent in […]
Sri Lanka media suppression, new attacks condemned by US
July 1, 2008 (LBO) – The United States has condemned the attack on a UK embassy staffer and journalist, calling it a “brutal and unprovoked” attack and said it was concerned at the suppression of media which was essential for democracy.The US said it hoped that a high powered ministerial committee appointed to look into […]
Sri Lanka reach Asia Cup final after crushing win
KARACHI, June 30, 2008 (AFP) – Sparkling centuries from Sanath Jayasuriya and Kumar Sangakkara powered defending champions Sri Lanka to a crushing 158-run win over Bangladesh Monday to reach the final of the Asia Cup.Jayasuriya celebrated his 39th birthday with an 88-ball 130 while Sangakkara scored 121 to help Sri Lanka pile up a mammoth […]