Author: lbostgadmin
Olympic athletes set to shine through smog, doping scandals
PARIS, June 24, 2008 (AFP) – Beijing Games organisers will be hoping that the exciting crop of competitors in the blue riband event of athletics can dispel the sordid spectre of doping and provide a feast of top-class sport.Certainly, there is a raft of big-name draw cards and record-breakers for whom the stage is set […]
” inflation options
MUMBAI, June 23, 2008 (AFP) – The governor of India’s central bank said Monday he was looking at new options to halt a surge in inflation, currently running at a 13-year high. “We are currently in the midst of intensive examination of issues and options,” Reserve Bank of India chief Y.Y. Reddy said at a […]
Bangladesh rickshaws get modern makeover
DHAKA, June 24, 2008 (AFP) – The backbreaking job of pedalling a rickshaw in Bangladesh could soon be history with a local company saying it has come up with battery-powered, rechargeable cycles.Bangladesh Diesel Plant, an agricultural farm tool manufacturer owned by the country’s powerful army, says it has created an electric rickshaw and plans to […]
Sri Lanka chamber says trade missions yield contracts, orders
June 24, 2008 (LBO) – Business promotion missions to Iran and Pakistan organized by the Ceylon Chamber of Commerce (CCC) have resulted in several contract agreements and confirmed orders for Sri Lankan companies with others under negotiation. The CCC said in a statement it was now doing a study to explore possibilities of leading two […]
Sri Lanka govt promises action over media death threats
June 24, 2008 (AFP) – Sri Lanka’s government moved Tuesday to deflect a barrage of criticism over its press rights record by promising to help journalists receiving death threats. “There is no censorship and you don’t have to go by what is said in the (defence ministry) website,” said another minister and panel member, Rajitha […]
Sri Lanka tea board discourages new cultivations
June 24, 2008 (LBO) – Sri Lanka’s tea board is not encouraging the expansion of tea cultivation in an effort to prevent over-supply from depressing prices and has warned the industry against being carried away by current high prices. “If the decrease in availability of tea is more than 10 percent a greater price hike […]
Plastic Preference
June 24, 2008 (LBO) – Sri Lanka’s ABC Group says its tri-lingual credit card is gaining popularity, especially in rural areas, and consumers are relying more on credit with inflation soaring to 30 percent. Garment sector employees and rural youth apply for the card owing to its tri-lingual facility and ease of use, says Orville […]
Greek Deal
June 24, 2008 (LBO) – Ceylon Shipping Corporation (CSC), Sri Lanka’s national shipping line, has struck a deal with a member of a famous Greek shipping dynasty for a joint venture project to transport petroleum products and supply ship fuel. The CPC wants to go for long-term freight contracts to reduce costs and be able […]
‘s Dhammika Perera buys bigger chunk of Hayleys
June 24, 2008 (LBO) – Sri Lanka’s Vallibel group controlled by businessman Dhammika Perera bought another chunk of Hayleys Tuesday, raising its stake in the conglomerate to over 11 percent. “Today we crossed the 10 percent mark,” Dhammika Perera’s investment advisor Nimal Perera told LBO.“Now we have 11.09 percent of Hayleys.” He said they bought […]
Zimbabwe opposition chief quits run-off, handing win to Mugabe
HARARE, June 23, 2008 (AFP) – Zimbabweans faced an uncertain future Monday after opposition leader Morgan Tsvangirai abandoned a run-off election saying violence had made a fair vote impossible, in a move that virtually hands victory to President Robert Mugabe. “We will no longer participate in the violent illegitimate sham of an election process,” Tsvangirai, […]
Oil prices rise after Jeddah summit
SINGAPORE, June 23, 2008 (AFP) – World oil prices rose in Asian trading on Monday after Saudi Arabia said at a weekend summit that it had raised output, and said speculators were partly to blame for higher prices.New York’s main oil futures contract, light sweet crude for August delivery, was 29 cents higher at 135.65 […]
Eurozone business activity contracts: survey
BRUSSELS, June 23, 2008 (AFP) – Business activity in the 15 countries sharing the euro contracted in June for the first time for almost five years, according to a widely watched survey on Monday.The eurozone’s purchasing managers’ index (PMI), compiled by data and research group Markit, slid to 49.5 points in June, from 51.1 in […]