Author: lbostgadmin
Indonesia busts US$20 bln on fuel subsidies as inflation picks up
JAKARTA, March 30, 2008 (AFP) – With prices for key commodities at record highs, Indonesia — Southeast Asia’s biggest economy and a key exporter — should, at first glance, be enjoying good times. But with high oil prices leading to a government fuel subsidy blowout and rising food prices hitting the poor, analysts say most […]
‘s national carrier
March 30, 2008 (AFP) – Dubai’s Emirates Airlines said Sunday it would stop sharing routes with Sri Lanka’s national carrier when its decade-long management contract expires this month.“Code share arrangements between Emirates and SriLankan Airlines will cease from 31st March 2008 with the expiry of the management agreement,” Emirates said in a statement released here. […]
Oil Wealth
March 30, 2008 (LBO) – Sri Lanka has an opportunity to tap capital surpluses of oil-rich Gulf countries like Qatar as well as export professional services for a booming construction industry there, a senior Gulf banker said.R Seetharaman, chief executive of Doha Bank, the largest private commercial bank in the State of Qatar, said the […]
Market Play
Mar 30, 2008 (LBO) – Standard Chartered Bank which won a deal to raise 150 million dollars for the government earlier this month, is well positioned to boost fee based services, a top official said. A top player in foreign exchange markets and hedging products in the island, Standard Chartered Sri Lanka’s after tax profit […]
Plastic Competition
March 30, 2008 (LBO) – The emergence of non-bank entities that issue cards for payment services are a threat to traditional commercial banks, a Sri Lankan central banker said. The payments system is being transformed by new information technology and the integration of financial markets which has led to the emergence of non-bank actors, said […]
”: IMF study
Mar 28, 2008 (LBO) – Most of Sri Lanka’s inflation is not ‘imported’ or caused by oil, a major new International Monetary Fund research study has found, indicating that the mainly home grown price rises could be slashed with better economic policies. . The IMF study released Saturday that covers a steep rise in Sri […]
Windies legends demand shake-up after defeat to Sri Lanka
PORT-OF-SPAIN, Trinidad, March 28, 2008 (AFP) – West Indies legends Desmond Haynes and Deryck Murray have called for a major shake-up in the structure of cricket in the Caribbean in order to drag the team out of the doldrums. The comments of former Windies captain and opening batsman Haynes, and former vice-captain and wicketkeeper Murray, […]
Oil prices volatile in bubbly trade
NEW YORK, March 28, 2008 (AFP) – World oil prices fell sharply Friday on renewed concern that a slowdown in the US economy would dampen energy demand and on news that damage to an Iraqi pipeline was not as serious as first thought. New York crude values dropped under 106 dollars a barrel, a day […]
Philippine company launches 406-dollar mini laptop
MANILA, March 29, 2008 (AFP) – Philippine PC manufacturer Neo and multinational computer processor maker Intel have jointly launched a new 16,999-peso (406-dollar) mini laptop, spokesmen said Saturday.The Neo Explore is a “ruggedized and shock-proof” laptop with a keyboard that will not be damaged by spillages of liquids, said Neo spokeswoman Mariel Que. It weighs […]
New Wavelength
March 29, 2008 (LBO) – Sri Lanka needs transparent telecom regulation and lower costs to encourage the information technology business and become a ‘knowledge economy’, says a new World Bank study. Transparent and consistent regulation was important to encourage private investment in the IT sector which was important for the development of the industry, knowledge […]
”and reduce prices
Mar 28, 2008 (LBO) – Sri Lanka has removed a special tax on rice and allowed any private trader to import rice, the information ministry said as the government tried to import ‘deflation’ in to the country. . “With the intention of easing the burden of the people, the Government has decided to sanction the […]
‘s high risk dams to be made safer
Mar 28, 2008 (LBO) – Sri Lanka is getting a 65.3 million US dollar credit from the World Bank to improve the safety at high risk dams and boost water resources planning capacity in the island, the multilateral lender has said. The project will cover 80 dams of which 32 are considered high risk. The […]