Author: lbostgadmin
Sri Lanka signals shift in war on Tamil Tigers
Jan 22, 2008 (AFP) – Sri Lanka’s President Tuesday signalled a shift in the war against the Tamil Tigers, saying he did not want to push his troops into rebel-held territory to defeat the guerrillas.Since the start of this month, the Sri Lanka defence ministry has claimed it has killed 592 rebels against just 26 […]
EU warns of US recession as stocks dive
BRUSSELS, Jan 21, 2008 (AFP) – Top European finance officials sounded the alarm on Monday about a possible US recession as fears about the health of the world’s biggest economy plunged global stocks deep into the red. “The situation is continuing to deteriorate in the United States,” Luxembourg Finance Minister Jean-Claude Juncker said after chairing […]
Saudi shares nosedive almost 10 percent
RIYADH, Jan 22, 2008 (AFP) – The Saudi stock market, by far the largest in the Arab world, dropped sharply at the end of trading Tuesday, shedding almost the maximum permissible 10 percent on economic concerns and profit-taking.The Tadawul All-Shares Index shed 9.7 percent to finish below the 10,000-point psychological barrier on 9,338.54 points. The […]
Governments urge calm in face of market turmoil
PARIS, Jan 22, 2008 (AFP) – Leaders in Asia and Europe appealed for calm Tuesday and called for international cooperation in the face of a galloping global meltdown on world stock markets sparked by fears of a US recession. Asian markets experienced a day of heavy losses, with Hong Kong share prices suffering their biggest […]
Europe tell US to tackle the real causes of market turmoil
BRUSSELS, Jan 22, 2008 (AFP) – The European Commission’s top economic official, Joaquin Almunia, called Tuesday on the United States to tackle its deficits, which he said were the root cause of financial market turmoil. Amid concern in Europe that a US government recovery plan would not avert a recession, EU Economic and Monetary Affairs […]
Fed slashes US interest rates to 3.50 percent
WASHINGTON, Jan 22, 2008 (AFP) – The US Federal Reserve slashed its key federal funds short-term interest rate by three quarters of a percentage point to 3.50 percent Tuesday amid sharp falls on global stock markets. The Fed announced its move shortly before US stock markets were due to open for trading and amid increasing […]
Mobile Strategy
Jan 22, 2008 (LBO) – Sri Lanka’s mobile service provider Tigo plans to rely on giving better value to increase market share and revenue and not wage a price war with rival local mobile operators, company officials said. “We do not believe that a price war will benefit anybody including the customer. There has to […]
LawAsiaICT2008
Jan 22, 2008 (LBO) – Sri Lanka and other Asia-Pacific nations must work out common procedures to apply laws so that electronic crimes do not proliferate, the island’s top judicial officer said.“This is something that other jurisdictions can emulate,” he said. “In Malaysia we have ‘cyber city’ to get everybody together to have technology development […]
Cheap Labour
ABU DHABI, Jan 22, 2008 (AFP) – Gulf Arab states heavily dependent on an Asian labour force agreed on Tuesday with labour-sending Asian countries to join forces against the exploitation of expat workers from Asia.Gulf Cooperation Council (GCC) labour ministers and counterparts from Asia are to propose an action plan to protect the welfare of […]
Sri Lanka inflation rockets to new record of 26.2-pct amid money printing
Jan 21, 2008 (LBO) — Sri Lanka’s country-wide inflation hit an all time record 26.2 percent in November 2007, following one of the worst bouts of money printing ever seen in the country, the latest official data showed.The Sri Lanka Consumer Price Index’s (SLCPI) previous high was 24.1 percent recorded in October as the government […]
Sri Lanka military says at least 29 killed in fresh fighting
Jan 21, 2008 (AFP) – Heavy fighting raged across Sri Lanka’s north with the military destroying rebel bunkers and killing at least 29 guerrillas, the defence ministry said Monday.The ministry said 16 rebels were killed in Vavuniya district while 13 were killed in clashes across Mannar district in the northwest on Sunday. The latest fighting […]
Sri Lanka to tackle young Australian guns
MELBOURNE, Jan 21, 2008 (AFP) – A number of Australian Test hopefuls will get the chance to stake their claim for higher honours when they play for the Prime Minister’s XI against Sri Lanka on January 30 at Canberra’s Manuka Oval.Cricket Australia Monday announced a strong squad for the match and included in the side […]