Author: lbostgadmin
Oil prices hit 118 dollars for first time
LONDON, April 22, 2008 (AFP) – The price of New York crude oil surged past 118 dollars per barrel for the first time on Tuesday, lifted by unrest in key producer Nigeria and the weak dollar, traders said.New York’s main oil futures contract, light sweet crude for delivery in May, struck a new peak at […]
Hard-pegged Hong Kong inflation at 5.3-pct as Federal Reserve prints
HONG KONG, April 22, 2008 (AFP) – Hong Kong’s underlying inflation rate increased to 5.3 percent year-on-year in March, as food costs continued to rocket in the face of global pressure, official figures showed Tuesday. The underlying rate increased from a 5.1 percent figure in February, according to figures released by the Census and Statistics […]
Remote Control
April 22, 2008 (LBO) – Sri Lankan technology outsourcing company Eureka is to set up an office in Dubai and also expand its information security, disaster recovery management and remote infrastructure management services (RIM), officials say. “We know the market, carefully researched, we know the problems, problems of development, energy so on, we know the […]
Capital Question
April 22, 2008 (LBO) – A shareholder has asked Sri Lanka’s National Development Bank to return its excess capital to shareholders but its management says plans are on to use the money to better effect and the time is not right for a distribution. Mano Nanayakkara, an investment consultant who has a personal stake in […]
‘s share market picks up on telecom deal
April 22, 2008 (LBO) – Sri Lankan stocks open higher with a 34 million share deal in Dialog Telekom that boosted turnover to 712.7 million rupees in early morning trading.Approximately 34,416,500 shares were traded at 16.50 rupees, brokers said. The deal went through in two ten million chunks, two 4.5 million and a five million […]
Sri Lanka stocks close higher; Dialog, AMW draw interest
April 22, 2008 (LBO) – Sri Lankan shares edged higher with heavy trading in Dialog Telekom driving turnover past the billion rupee mark and vehicle agency Associated Motorways (AMW) rising sharply on speculative buying, brokers said. All Share price Index went up 10.08 points (0.38 percent) to 2,673.01 while the more liquid Milanka index fell […]
” of rice
April 21, 2008 (LBO) – An examination of futures prices show that there is no ‘shortage’ of rice, but government meddling in rice production and marketing is causing other negative fallouts, a top economist has said. Steve Hanke, from the Johns Hopkins University of Baltimore in the United States, says the term structure of Thai […]
Sri Lanka agriculture, construction workers earn less, services do better
April 21, 2008 (LBO) – Sri Lankan agriculture and construction workers saw their earnings eroded by high inflation in 2007 for the second year running while public sector workers and the service sector saw real increases, the central bank said. ” . . . as experienced in the previous year, both the agriculture and construction […]
Tigers accuse Sri Lanka of killing priest
April 20, 2008 (AFP) – Sri Lankan forces Sunday killed a Roman Catholic priest inside rebel-held territory, Tiger guerrillas said as the defence ministry reported 16 more deaths in fresh violence.The Liberation Tigers of Tamil Eelam (LTTE) said Father M.X. Karunaratnam, who was also a top human rights campaigner, was killed in a roadside bomb […]
‘s police to guard torch: official
SYDNEY, April 21, 2008 (AFP) – More than half the police force in Australia’s capital Canberra will guard the Olympic torch when the troubled relay arrives in the city this week, officials said Monday.Security has been beefed up for Thursday’s run, which is expected to attract hundreds of pro-Tibet demonstrators angry at China’s treatment of […]
Sportswear workers face gruelling conditions, long hours: report
BRUSSELS, April 21, 2008 (AFP) – Sportswear workers’ rights are being trampled asunder with unpaid overtime and gruelling conditions rife as the industry gears up for the Olympic Games in Beijing, according to a report. Researchers for the Play Fair 2008 campaign found that the conditions for sportswear equipment makers had hardly improved since the […]
Singapore says there is enough rice, not to worry
SINGAPORE, April 21, 2008 (AFP) – The rice supply in Singapore — which imports virtually all its food — is not affected by export limits imposed by some producers to ease soaring prices, the government said Monday. Orders placed by the city-state’s rice importers are being met, Senior Minister of State for Trade and Industry, […]