Author: lbostgadmin
Oil bubble weakens as Fed signal pause in money printing
LONDON, June 4, 2008 (AFP) – Oil prices fell on Wednesday, extending recent heavy losses made on the back of the stronger dollar, as investors awaited the latest weekly report on energy inventories in the United States.New York’s main oil futures contract, light sweet crude for July delivery, shed 59 cents to 123.72 dollars a […]
‘s airlines face huge losses due to fuel prices: govt
NEW DELHI, June 4, 2008 (AFP) – India’s airlines suffered a combined loss of nearly a billion dollars in the past financial year and the figure could double this year if fuel prices keep rising, a government official said on Wednesday.The firms suffered a total loss of around 40 billion rupees (937.6 billion dollars) in […]
Sri Lanka blast in capital
June 4, 2008 (LBO) – A blast ripped through a suburb of Sri Lanka’s capital Colombo in the early morning rush hour, the military said. Military spokesman Udaya Nanayakkara said the explosion blast had gone off by a rail track. Early reports said the explosion occurred in an area bordering Dehiwela and Wellawatte. Residents heard […]
Sri Lanka rail blast injures 17
June 4, 2008 (LBO) – A blast ripped through a suburban rail track in Sri Lanka’s capital Colombo in the early morning rush hour Wednesday, injuring at least 17, authorities and eyewitnesses said. Military spokesman Udaya Nanayakkara said the explosion had gone off on a rail track near Wasala Road in Dehiwela, south of Colombo. […]
Sri Lanka police hunts rail bomber
June 04, 2008 (LBO) – A bomb exploded on a rail track as a train bound for the island’s capital Colombo was passing through a southern suburb of the city, injuring more than a dozen people Wednesday, authorities and eyewitnesses said. Police spokesman Ranjith Gunesekera said a hunt was on for the suspect. An explosion […]
Sri Lanka police seek help to track train bomb suspect
June 04, 2008 (LBO) – Sri Lankan police Wednesday said they were hunting for a 29-year-old man suspected to be involved in a bomb attack on an early morning commuter train on the coastal track near to the capital Colombo that wounded 18 people. Nine people were killed and 84 wounded by a bomb blast […]
Sri Lanka leader says arable land sown with terrorist mines
June 04, 2008 (FAO) Food production in Sri Lanka has been affected not only by high oil prices, bad weather and storage and distribution problem but by terrorism as well, the island’s president Mahinda Rajapaksa has said.Addressing the Food and Agriculture Organisation (FAO) conference on food security in Rome, Rajapaksa called on the UN organisation […]
Sri Lanka blast damaged hotel gets state help
June 04, 2008 (LBO) – Sri Lanka’s tourist promotion office had given a million rupees to re-build an old tourist hotel that was damaged in a Tamil Tiger bomb blast, the ministry of tourism said. The board of directors of Sri Lanka’s tourism promotion bureau had recently approved the request to help Hotel Nippon, the […]
Sri Lanka stocks drop 1.14 pct on earnings fears
June 4, 2008 (LBO) – Sri Lanka stocks shed over one percent Wednesday with investors taking profits with corporate earnings are seen under pressure from high inflation and interest rates, analysts said. The All Share Price Index (ASPI) closed 1.14 percent (28.75 points) lower at 2,491.68 points while the Milanka Index shed 1.77 percent (53.79 […]
Sri Lanka will not try forcible curbing of fuel use: minister
June 3, 2008 (LBO) – Sri Lanka will not try to impose laws on productive sectors of the economy to curb oil use, but is aiming to cut energy use in the state sector by about 20 percent, a government minister said. Siyambalapitiya said the trains, state buses and the military consumed substantial amounts of […]
Sri Lanka flood death toll rises; 250,000 displaced
June 3, 2008 (AFP) – The death toll from a week of torrential rain across Sri Lanka has risen to 17 and more than 253,000 people have been driven from their homes, the island’s disaster management centre said Tuesday.Sri Lanka depends on the monsoons for irrigation and power generation but they frequently cause loss of […]
Well Well
SINGAPORE, June 3, 2008 (AFP) – Oil prices eased in Asian trade Tuesday on continuing concerns over global energy demand, dealers said.“On the supply side, we are urging all oil producing countries to open oil markets to foreign investment, which would support faster and more efficient growth,” he said in a speech in the oil-rich […]