Author: lbostgadmin
Ecuador set to revoke thousands of mining concessions
QUITO, April 17, 2008 (AFP) – President Rafael Correa said Thursday Ecuador was close to revoking some 4,000 mining concessions granted since 2004, many of them to US and Canadian companies, that have been idle and used solely for speculation.A government-sponsored bill revoking about 80 percent of mining concessions in gold, silver and limestone deposits […]
Hundreds arrested as Olympic torch makes tense Indian passage
NEW DELHI, April 17, 2008 (AFP) – Hundreds of Tibetan demonstrators were arrested in India and neighbouring Nepal Thursday as thousands of police and soldiers defended the Beijing Olympic torch on a suffocating run through New Delhi.The heart of the Indian capital was sealed off for the most sensitive leg of the protest-hit global relay […]
China imposes new visa restrictions
HONG KONG, April 18, 2008 (AFP) – China has imposed further curbs on visitors, just weeks after it stopped issuing multiple-entry visas, Hong Kong travel agents said Friday, sparking concern among the business community.“You now need a copy of your travel ticket both in and out of the country and a hotel voucher before they […]
Sri Lanka rice price controls fuels fears of black market
April 18, 2008 (LBO) – Sri Lankan traders Friday said they had agreed to sell rice at the new government controlled price but many wholesale shops remained closed in key markets amid warnings of a shortage and emergence of a ‘black market’. Government officials said they would crack down on ‘unscrupulous’ traders who were trying […]
Sri Lanka Telecom stakes bought by GTH
April 17, 2008 (LBO) “Global Telecommunication Holdings (GTH), a Netherlands incorporated unit through which Malaysia’s UT group is trying to acquire control of Sri Lanka Telecom, has raised its stake in the telco, brokers said Thursday. GTH bought over 6.7 million shares of SLT at 49 rupees per share Thursday, CT Smith Stockbrokers, which bought […]
Sri Lanka govt subsidies fuelling inflation: central bank
April 17, 2008 (LBO) – Sri Lanka’s Central Bank has said heavy government spending to subsidise fuel, electricity and fertiliser destabilises the economy, leads to waste and hurts the poor by eventually fuelling inflation. Regular domestic fuel price hikes in keeping with rises in global oil prices are needed, the bank said in its 2007 […]
Sri Lanka war zone hospitals short of medical staff, aid: ICRC
April 17, 2008 (AFP) – Hospitals in Sri Lanka’s Tamil rebel-held territory are running low on basic medicines and medical staff, the International Committee of the Red Cross said Thursday.Fighting between security forces and Tamil Tiger rebels has escalated since January, when the government withdrew from a 2002 truce arranged by peace broker Norway and […]
Sri Lanka opposition, govt trade charges over sanctions threat
April 17, 2008 (LBO) – Sri Lanka’s main opposition political party says the island is facing international isolation and economic sanctions, a charge rejected by the government. The opposition United National Party accused the government of being unable to effectively address international concerns over human rights abuses by the military. But a government spokesman dismissed […]
‘s massive new cabinet risks ineptitude: analysts
NAIROBI, April 17, 2008 (AFP) – Kenya’s massive 42-member power-sharing cabinet, named to help restore stability after a bloody post-poll dispute, risks becoming crippled by inefficiency, analysts said.President Mwai Kibaki on Sunday appointed political rival Raila Odinga as his prime minister under a February 28 power-sharing deal that ended months of political violence sparked by […]
Oil price crosses 115 dollars for first time on supply jitters
NEW YORK, April 16, 2008 (AFP) – Oil prices streaked into new record territory for the second straight day Wednesday, boosted by a decline in US energy reserves and as the weakening dollar drew investments in commodities.New York’s main oil futures contract, light sweet crude for delivery in May, crossed 115 dollars a barrel for […]
Oil and gas stockpiling key to energy security: officials
SINGAPORE, April 17, 2008 (AFP) – Asia’s top security forum should consider building strategic oil and gas stockpiles as part of efforts to ensure steady supplies in emergencies, officials recommended after a meeting ended Thursday.Senior officials of the ASEAN Regional Forum (ARF) held two days of talks in Singapore devoted to the issue of energy […]
Societe Generale eyes purges over trading scandal: report
PARIS, April 17, 2008 (AFP) – The head of Societe Generale’s corporate and investment banking is to step down along with about a dozen other managers following the rogue trading scandal at the French bank, the Mediapart online newspaper reported Thursday.Jean-Pierre Mustier, a close ally of Societe Generale chairman Daniel Bouton, is expected to leave […]