Author: lbostgadmin
EU says Sri Lanka should improve rights record, media freedom
June 12, 2008 (LBO) – The European Union urged Sri Lanka to improve its human rights record and treatment of journalists as the country is set to re-apply for a trade concession extension later in the year. The EU was also helping build roads and do reconstruction but work was hampered due to a monopoly […]
Sri Lanka blocks rice exports
June 12, 2008 (LBO) – Sri Lanka has slapped a minimum export price floor of 100,000 rupees (923 dollars) per metric tonne to block rice exports, information minister Anura Yapa said. World rice prices, which peaked in April, have since moderated. Global commodity prices have been booming amidst money printing in reserve currency countries, especially […]
Oil surge, bank jitters sink Wall Street
NEW YORK, June 11, 2008 (AFP) – Wall Street tumbled Wednesday as the latest spike in crude oil prices undermined sentiment in a market already spooked by inflation and troubles in the finance sector. The Dow Jones Industrial Average sank 205.99 points (1.68 percent) to close at 12,083.77 and the Nasdaq composite slumped 54.93 points […]
”’ wakes up to life as commoner
KATHMANDU, June 12, 2008 (AFP) – Nepal’s former king Gyanendra on Thursday began life as a commoner after leaving his sprawling palace home and army of servants for the last time.He will have to adjust to living in a former hunting lodge on the outskirts of the capital, after leaving the Narayanhiti palace in the […]
Indian GSM users top 205 million
NEW DELHI, June 12 (Asia Pulse) – India’s GSM cellular subscriber base touched 205 million in May with the addition of over 6.2 million new users during the month and Bharti Airtel capturing over one-third of the market.The subscriber figures excludes Reliance Telecom figures. In April, GSM operators had added 6.5 million new users against […]
Marshall Islands first quarter 2008 inflation 10-pct
MAJURO, June 12 (Asia Pulse) – The cost of living rose by more than 10 per cent in the Marshall Islands from January to March this year. This was more than double the inflation rate for all of fiscal year 2007, according to a report issued by the government’s Economic Policy, Planning and Statistics Office […]
Undersea Links
June 12, 2008 (LBO) – Lanka Bell, a Sri Lankan wireless fixed access firm, said its link to a high speed private undersea fibre optic cable operated by India’s Reliance group had gone live, enabling it to offer unrestricted broadband services. The company said in a statement it had already set up the infrastructure for […]
Sri Lankan tea prices stay buoyant
June 12, 2008 (LBO) – Sri Lankan tea prices remained strong for the third week running at this week’s auctions in Colombo with firm demand from the Middle East and the Commonwealth of Independent States, brokers said. The strong market for tea, along with rubber and palm oil, prompted investors on the Colombo bourse to […]
Rail Loan
June 12, 2008 (LBO) – Sri Lanka’s cabinet of ministers had given the nod to borrow 100 million US dollars from India to upgrade a part of the island’s railway system, a senior government minister said. The southern track was also torn up by the 2004 December tsunami. It was quickly repaired by the cash-strapped […]
Sri Lanka stocks buffeted by inflation
June 12, 2008 (LBO) – Sri Lanka stocks dropped 0.60 percent Thursday with brokers forecasting the slide to continue owing to raging inflation, high interest rates and a slowdown in the economy.The All Share Price Index fell 0.60 percent (14.94 points) to end at 2,459.99 while the more liquid Milanka was down 0.90 percent (26.84 […]
Pakistan inflation caused by money printing for budget: finance minister
June 12, 2008 (LBO) – Unprecedented borrowings from the central bank or ‘money printing’ to finance subsidies have caused inflation in Pakistan to go to a historic high, the country’s finance minister has said. Finance minister Naveed Qamar told Pakistan’s parliament that large subsidies not financed in the original budget had been given by the […]
Sri Lanka focuses on education to combat child labour
June 11, 2008 (LBO) – Sri Lanka will mark the World Day Against Child Labour this year on June 12 Thursday with activities to raise awareness about this year’s theme that education is the right response to child labour, the International Labour Organisation said. The ILO has estimated that some 165 million children between the […]