Author: lbostgadmin
Atom Chip
April 04, 2008 (LBO) –Intel has launched a new low-power chip which can be used in mobile devices and simple computers for internet surfing that it says would be useful in Sri Lanka’s e-governance initiative. Products like Intel’s Atom family of processors will help Sri Lanka achieve its goal of 60 percent computer literacy by […]
Sri Lanka tea trade online transactions on the rise
April 04, 2008 (LBO) – The volume of transactions on Sri Lanka’s automated tea export document processing system is on the rise but the number of exporters using it is still limited, a senior Tea Board official said. . Tea commissioner N. Udugampola said the electronic data interchange system started last August speeded up transaction […]
Tele Rating
April 04, 2008 (LBO) – Fitch Ratings has cut Sri Lanka Telecom’s foreign currency credit rating by one notch to ‘B+’ after the country’s sovereign rating was slashed a day earlier, saying the exit of Japan’s NTT from the firm was not a reason for the downgrade. SLT’s local ratings were based on its own […]
Sri Lanka stocks weaken ahead of lengthy New Year holiday
April 04, 2008 (LBO) – Sri Lanka stocks closed marginally lower Friday with unstable macro economic conditions and an approaching lengthy traditional New Year holiday weakening investor interest, brokers said. Total turnover was 231.8 million rupees, provisional data from the Colombo Stock Exchange showed. The market’s All Share Price index slipped 0.17 percent (4.53 points) […]
Sri Lanka sovereign credit cut to B+ on bad budgets, foreign borrowing, war
April 03, 2008 (LBO) – Fitch Ratings has downgraded Sri Lanka’s sovereign rating by one notch to ‘B+’ saying budgets were weak, inflation was high and the country was borrowing heavily from foreign lenders at commercial rates. The rating agency said the government’s “overriding priority” was war rather than fixing the economy. “The ratings downgrade […]
‘s sovereign downgrade
April 03, 2008 (LBO) — Sri Lanka has disputed a sovereign credit downgrade by one notch to ‘B+’ by Fitch Ratings Thursday, saying it was based on the rating agency’s pessimistic views and was not in line with economic fundamentals. . “The downward revision of ratings is based on Fitch’s pessimistic views on the security […]
Sri Lanka main opposition activated on 28-pct inflation
April 03, 2008 (LBO) – Sri Lanka’s main opposition United National Party says it is starting a protest campaign against rising prices after inflation in the country hit a new record. “The whole of 2007 we saw increases in prices. Daily the prices increased,” UNP leader Ranil Wickremesinghe told a meeting of the party’s women’s […]
Sri Lanka set for regional vote in former Tiger bastion
April 3, 2008 (AFP) – Sri Lanka Thursday announced that key local government elections will be held next month in an area that was last year wrested from rebel control after months of heavy fighting.The elections commission said voting for the Eastern Provincial Council will be held on May 10. Security forces established control over […]
West Indies win toss, field against Sri Lanka
PORT OF SPAIN, Trinidad, April 3, 2008 (AFP) – West Indies won the toss and chose to field on the opening day of the second and final Test against Sri Lanka on Thursday at Queen’s Park Oval.West Indies have made two changes to their line-up, bringing in left-handed opener Sewnarine Chattergoon and fast bowler Fidel […]
” while ordinary Americans lose homes
WASHINGTON, April 3, 2008 (AFP) – The US Congress Thursday steps up scrutiny of the government role in the rescue of Bear Stearns, even as Fed chairman Ben Bernanke argued the central bank “did not bail out” the Wall Street investment giant. A Senate hearing will seek details of the deal engineered by the Federal […]
Zimbabwe opposition wins parliamentary control, presidential results awaited
HARARE, April 3, 2008 (AFP) – Zimbabweans waited anxiously on Thursday for an end to a deafening official silence over the outcome of their presidential election, after the opposition took control of parliament.The economy of Zimbabwe has been in meltdown since the start of the decade, with inflation now standing at over 100,000 percent and […]
World Bank calls for new solution to fight old problem
WASHINGTON, April 2, 2008 (AFP) – The World Bank on Wednesday called on the international community to mount a wide-ranging fight against hunger as skyrocketing food prices critically threaten the world’s poor.“We need a New Deal for Global Food Policy,” World Bank president Robert Zoellick said in a speech to a Washington think tank ahead […]