Author: lbostgadmin
Sri Lanka JVP split widens with more support for Weerawansa
April 08, 2008 (LBO) – Differences within Sri Lanka’s Marxist-nationalist Janatha Vimukthi Peramuna (JVP) exploded dramatically Tuesday with controversial lawmaker Wimal Weerawansa speaking out publicly and gaining the support of nine others. Charismatic speaker and propaganda secretary Wimal Weerawansa fell out with the party hierarchy ostensibly over his public support for saying that a breakaway […]
” volatility in financial markets: French bank chief
HONG KONG, April 8, 2008 (AFP) – The world’s financial markets remain “exceptionally volatile” due to the subprime credit crisis, the chief executive of France’s largest bank said in Hong Kong on Tuesday.“Since I last presented to the market at the end of February, the environment remains very challenging and the market exceptionally volatile,” Baudouin […]
‘s opposition approved to pursue legal action on polls results
HARARE, April 8, 2008 (AFP) – Zimbabwe’s opposition was Tuesday given the green light to pursue a legal bid to force a declaration of the country’s presidential election, 10 days on from the poll on Robert Mugabe’s future.Faced with 80 percent unemployment and six-digit inflation, almost one third of Zimbabwe’s 13 million population have left […]
Sri Lanka Confifi group says beach resorts done well
April 08, 2008 (LBO) – Sri Lanka’s Confifi Group says two of its three beach resorts on the west coast have done well in the last winter season despite the sharp down turn in arrivals to the island. . M T A Furkhan, Confifi Group chaiman, said the company has plans to refurbish its hotels […]
Islamic Credit
April 08, 2008 (LBO) – ABC Investments Limited has launched an Islamic credit card in Sri Lanka, in line with Islamic religious teachings and with strict rules on its usage, a company statement said. Updated The ‘ABC Barakah’ credit card does not carry interest or penalties for late payment which is considered forbidden under Islamic […]
Sri Lanka CPC builds up forex reserve: central bank
April 08, 2008 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation has been building up a foreign exchange reserve to meet its payments in a bid to prevent pressure on forex market, top Central Bank officials said.“Our forex market is small, so when CPC goes to the market it can move the exchange rate,” Central […]
Commodity bubble may burst warns IMF, what will happen to Sri Lanka tea
April 07, 2008 (LBO) – The International Monetary Fund has warned that the current commodity bubble, perhaps the biggest in four decades, which has sent oil, metals and food prices zooming may burst soon as a global credit bubble unwinds rapidly. . A crumbling commodity bubble, while lowering oil and imported food prices could reduce […]
Tamil Tigers set up presence in US: report
WASHINGTON, April 7, 2008 (AFP) – The Tamil Tigers, a Sri Lankan rebel group responsible of killing about 4,000 people in the past two years, have quietly established a US presence to help finance their separatist campaigns, The Washington Times reported Monday. Citing various US government sources, the newspaper said the organization was trying to […]
Sri Lanka suicide bombing prompts calls for political solution
April 07, 2008 (LBO) – The United States, European Union and Canada have condemned Sunday’s Tamil Tiger suicide bombing which killed a Sri Lankan minister, saying only a political solution, not violence, would ensure peace. “The United States denounces this vicious and reprehensible terrorist attack on civilians in the strongest possible terms,” a US embassy […]
Victorious Windies deny Sri Lanka Test sweep
PORT OF SPAIN, Trinidad, April 6, 2008 (AFP) – Sri Lanka failed in their bid to win a Test series in the Caribbean for the first time when Ramnaresh Sarwan and Shivnarine Chanderpaul led the West Indies to a six-wicket victory in the second and final Test on Sunday. Sarwan hit 102, his 10th Test […]
Sri Lanka captain says batting meltdown hurt chances
PORT OF SPAIN, Trinidad, April 7, 2008 (AFP) – Sri Lanka captain Mahela Jayawardene has identified his side’s batting meltdown early in their second innings as the turning point in the second and final Test against West Indies which ended on Sunday.Ramnaresh Sarwan hit 102 and Shivnarine Chanderpaul was unbeaten on 86, as West Indies, […]
Gulf countries want single currency target as dollar peg inflation goes up
DOHA, April 6, 2008 (AFP) – Gulf central bank chiefs decided on Sunday to stick to their target date of 2010 for a single currency and did not discuss revaluing their dollar-pegged currencies against the tumbling greenback, officials said. “We are committed to the decision taken by the (Gulf Cooperation Council) summit that 2010 is […]