Author: lbostgadmin
Sri Lanka make most of inexperienced attack in warm up
PROVIDENCE, Guyana, March 17, 2008 (AFP) – Malinda Warnapura and Sri Lanka captain Mahela Jayawardene warmed-up for the first Test against West Indies later this week when they took advantage of an inexperienced Guyana Cricket Board President’s Select XI attack on Monday. Warnapura retired out on 132 and Jayawardene was dismissed for 99, as the […]
Japan govt to present new nomination for central bank chief
TOKYO, March 18, 2008 (AFP) – Japan’s government is set to present a new nomination for central bank chief to parliament Tuesday, the eve of the incumbent governor’s departure, a parliament official said. The ruling Liberal Democratic Party proposed Monday that Fukui carry on for an unspecified period of time, but the opposition rejected the […]
US dollar plumbs new depths as intervention talk swirls
NEW YORK, March 17, 2008 (AFP) – The US dollar plumbed fresh record lows against the euro Monday as fears about America’s financial system spiked following a near collapse of Bear Stearns, prompting speculation about a possible central bank intervention. The single European currency briefly soared to a record 1.5905 dollars in Asian trading before […]
Oil eases from record highs
SINGAPORE, March 18, 2008 (AFP) – Oil prices retreated from record highs of almost 112 dollars in Asian trading Tuesday on worries energy demand would be affected by the financial market turbulence in the United States, dealers said. “The market could become even more vulnerable to selling due to the deteriorating economic conditions, as well,” […]
World reacts slowly on Tibet, but protests grow
HONG KONG, March 18, 2008 (AFP) – The international community has reacted cautiously to the unrest in Tibet, urging restraint from both Beijing and Tibetans, even as street protests condemning China have grown in recent days.“We have really urged the Chinese over several years to find a way to talk with the Dalai Lama, who […]
French rogue trader released: legal source
PARIS, March 18, 2008 (AFP) – A Paris court on Tuesday ordered the release of rogue trader Jerome Kerviel while investigators probe a multi-billion-dollar scandal at Societe Generale bank, a legal source said.The 31-year-old junior trader has been in detention since February 8. Societe Generale has blamed trades made by Kerviel for mammoth losses of […]
Fed set to slash rates to battle banking liquidity crisis
WASHINGTON, March 18, 2008 (AFP) – The US Federal Reserve opened a meeting Tuesday tipped to cut interest rates sharply as part of a multi-pronged effort to halt a mushrooming financial crisis, analysts say.Just two days after the US central bank engineered a dramatic bailout of collapsing investment bank Bear Stearns, the Federal Open Market […]
Sri Lanka trade deal with EU linked to human rights law
Mar 18, 2008 (LBO) – Sri Lanka has to improve its human rights record and implement its obligations under international agreements to extend trade concessions given by the European Union, officials said in Colombo. Sri Lanka is a signatory to the International Covenant on Civil and Political Rights (ICCPR) but is yet to complete the […]
Sri Lanka plantation privatization, branding behind export surge
March 18, 2008 (LBO) – The privatization of Sri Lankan tea estates and branding were largely responsible for the industry’s export earnings exceeding a billion dollars last year, a top business chamber said. The effectiveness of the Colombo tea auctions and storage and brokerage services also played their part, said a statement by the Ceylon […]
Sri Lanka stocks close higher
March 18, 2008 (LBO) – Colombo stocks closed higher with Sri Lanka Telecom (SLT) gaining 1.25 rupees, on expectations of an imminent sale, driving the benchmark index higher, dealers said. Meanwhile, the spot dollar traded at 107.60 rupees Tuesday. The All Share Index closed up 0.32 percent (8.11 points) at 2,551.29 points Tuesday. The liquid […]
Sri Lanka central bank is creating inflation: economist
Mar 17, 2008 (LBO) — Sri Lanka’s central bank is accountable for inflation and claims of ‘cost push’ factors for rising prices cannot be accepted when well managed countries are reporting single digit price increases, an economist has said.“Inflation is a purely monetary phenomenon,” lead economist of LirneAsia Harsha de Silva, who is a strong […]
Sri Lankan study sees politics, non-tariff barriers constraining South Asian trade
March 17, 2008 (LBO) – Politics and non-tariff barriers are likely to constrain trade among South Asian nations even if import tariffs are removed, a new study on the benefits of a regional trade pact had said. The study on the benefits of the South Asia Free Trade Agreement (SAFTA) says estimates show that the […]