Author: lbostgadmin
‘s Brandix clothing exporter cuts energy, water use with redesigned plant
April 15, 2008 (PBO) Sri Lanka’s Brandix Group, which exports clothes to international retailer Marks & Spencer, has spent 2.5 million dollars to redesign a 30-year-old factory to meet ‘green’ factory standards. The conversion achieved a 45 percent saving in energy, cut water consumption by nearly 60 percent, improved solid waste management and reduced carbon […]
Shady Deals
April 15, 2008 (LBO) – Sri Lanka’s stock markets regulator is investigating a number of cases of manipulation of the share market on the Colombo Stock Exchange, a senior state counsel has revealed. Buwaneka Aluwihare, deputy solicitor general of the Attorney-General’s Department, said that the offences in some of the cases were being compounded with […]
Sri Lanka plantation stocks draw interest
April 15, 2008 (LBO) – Sri Lankan stocks edged higher Tuesday with plantations stocks drawing some interest in an otherwise dull market on anticipation of higher earnings from high commodity prices. All Share Price Index went up 10.98 points or 0.42 percent to 2,625.61 while the more liquid Milanka Price Index rose 15.58 points (0.48 […]
” of commodity bubble; what can Sri Lanka do?
April 14, 2008 (LBO) – Countries pegged to the US dollar have felt the ‘full brunt’ of recent increases in commodity prices, a top IMF official said raising questions about the monetary policy options available for Sri Lanka to counter ‘imported’ inflation. Pressure for commodity prices to rise have been building up amid loose US […]
” for poor, hungry
WASHINGTON, April 13, 2008 (AFP) – The World Bank on Sunday launched a “New Deal” to fight hunger and poverty and urged governments to take action against a food crisis that has sparked deadly unrest in developing countries.A doubling of food prices over the past three years could push 100 million people in poorer developing […]
World economic leaders act to counter financial, food price crises
WASHINGTON, April 13, 2008 (AFP) – World economic leaders have taken steps to alleviate the worst financial shock in decades and a food price crisis that is sparking deadly unrest in developing countries. In three days of meetings that ended Sunday, finance ministers and central bankers grappled with the credit squeeze and inflation emergencies against […]
Farm practices must change to counter high food prices: study
PARIS, April 14, 2008 (AFP) – Farming practices must change to confront soaring food prices that threaten to drive millions of poor people around the world into even deeper poverty, said a new study to be released here Tuesday. “Business as usual is no longer an option,” the International Assessment of Agricultural Science and Technology […]
‘s day: military
April 14, 2008 (AFP) – Security forces smashed through defences of Tamil separatists in northern Sri Lanka, killing at least five rebels as the country marked the traditional new year, the defence ministry said Monday.Government troops captured eight bunkers of the Liberation Tigers of Tamil Eelam (LTTE) in the Jaffna peninsula on Sunday, the day […]
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BERLIN, April 14, 2008 (AFP) – Massive production of biofuels is “a crime against humanity” because of its impact on global food prices, a UN official said Monday on German radio.. “Producing biofuels today is a crime against humanity,” UN Special Rapporteur for the Right to Food Jean Ziegler told Bayerischer Runfunk radio. Using arable […]
Ron Paul slams Federal Reserve as US money printing de-stabilize world
April 13, 2008 (LBO) – Texas Congressman Ron Paul has slammed the Federal Reserve for printing money to manipulate interest rates and undermining the salaries of workers and savings of older people. Paper money from pure fiat central banking, backed by nothing other than government debt – a process that was born after the gold […]
Sri Lanka hammered by Chanderpaul, Samuels and rain
PORT-OF-SPAIN, Trinidad, April 13, 2008 (AFP) – Sri Lanka ran into the rampant pair of Shivnarine Chanderpaul and Marlon Samuels, and lost the rain-marred second one-day International against West Indies by seven wickets under the Duckworth-Lewis Method on Saturday.Chanderpaul smote three fours and two sixes in an unbeaten 52 from 42 balls, and Samuels struck […]
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WASHINGTON, April 12, 2008 (AFP) – Rising prices, especially for food, could have terrible consequences for the world, including the risk of war, and action needs to be taken to keep inflation in check, the IMF head said Saturday. “Food prices, if they go on like they are doing today …the consequences will be terrible,” […]