Author: lbostgadmin
Poverty-hit Bangladesh forced into huge fuel price hike
DHAKA, June 30, 2008 (AFP) – Impoverished Bangladesh became the latest victim of surging global crude costs Monday with the government announcing it has been forced to hike state-set fuel prices by between 34 and 66 percent. Authorities said they had no alternative to the sharp increases because the country could no longer afford to […]
‘s stock skids to 1950s level
NEW YORK, July 1, 2008 (AFP) – General Motors’s stock price fell on Monday to levels last seen in 1954, as investors fretted over its falling sales and as some analysts wondered if the iconic US automaker’s glory days are in the rearview mirror.Analysts are questioning if GM will be able to remain a component […]
‘s visit will give business a leg-up
SYDNEY, July 1, 2008 (AFP) – As Sydney prepares for a visit by Pope Benedict XVI and hundreds of thousands of Catholics, the city’s brothels are readying themselves for an expected surge in demand for sex. Any time Australia’s biggest city hosts a major event — from the 2003 Rugby World Cup to the Asia […]
Politics and inflation see Indian shares fall 3.71 percent
MUMBAI, July 1, 2008 (AFP) – Indian shares plunged 3.71 percent on Tuesday, closing below the 13,000-point mark, hit by worries about early general elections, inflation and oil prices, dealers said. The benchmark Mumbai 30-share Sensex index fell 499.92 points to 12,961.68, a 14-month low. “Political uncertainty and rising inflation are dragging the markets down.We […]
Helicopter shot while Sri Lanka president visits former war zone
July 1, 2008 (AFP) – A Sri Lankan military helicopter was hit by small arms fire in eastern Sri Lanka Tuesday as President Mahinda Rajapakse visited the region, officials said. The Bell helicopter made an emergency landing in the district of Ampara where the president was visiting to launch a 10-million dollar US-gifted bridge that […]
Transport Trends
July 01, 2008 (LBO) – Sri Lankan freight forwarders should use their expertise in international trade to modernise the island’s archaic, inefficient domestic trade, a transport expert said. Amal Kumarage, chairman of the National Transport Commission, said inefficiencies in internal trade were a huge cost to the economy as well as individuals and a drag […]
Sri Lankan stocks weaken further
July 01, 2008 (LBO) – Sri Lankan shares sagged further Tuesday as investors remained cautious because of deteriorating economic conditions and uncertainty caused by the ethnic war. The All Share Price Index fell 0.73 percent (17.88 points) to end at 2,439.96 while the more liquid Milanka was down 1.23 percent (36.63 points) to 2,952.15. Turnover […]
Sri Lanka economy expands 6.2 percent in 2008 first quarter
June 30, 2008 (LBO) – Sri Lanka’s economy expanded 6.2 percent in the first quarter of 2008, against 6.1 percent growth in the same period last year but slower than the 7.6 percent growth fourth quarter of 2007, government data showed. The agriculture sector grew by 5.9 percent compared with a 0.5 percent growth in […]
Sri Lanka inflation hits new high of 28.2 percent in June
June 30, 2008 (LBO) – Sri Lanka consumer inflation in the capital Colombo accelerated to a new record of 28.2 percent in June 2008, from 26.2 percent in May, the government’s statistics office said. In the 30 days to June prices rose 3.7 percent in the most widely watched Colombo Consumer Price Index (CCPI). The […]
” scare
June 30, 2008 (LBO) – The United States embassy in the Sri Lankan capital Colombo has re-opened after a suspicious powder was found to be harmless, the embassy said Monday. It said visa and other appointments postponed during the closure are being re-scheduled. The embassy was closed to the public on June 25. An embassy […]
Sri Lanka mediaman, UK High Commission staffer attacked
June 30, 2008 (LBO) – Unidentified men armed with clubs have attacked freelance journalist Namal Perera and a UK High Commission (embassy) staffer Monday evening in Colombo, colleagues said. Perera and UK High Commission political officer Mahendra Ratnaweera was assaulted in Colombo’s Narahenpita area Monday. They are being treated at a nearby private hospital. Monday’s […]
British High Commission staffer, journalist attacked in Colombo
June 30, 2008 (AFP) – A senior British High Commission officer was beaten and his car smashed by unidentified attackers who tried to grab a reporter travelling as a passenger in the vehicle here Monday, police said. Political officer Mahendra Ratnaweera was severely injured in the attack while his passenger, freelance journalist Namal Perera, also […]