Author: lbostgadmin
Nepal hikes petrol prices after shortages
KATHMANDU, Nepal, Dec 26, 2007 (AFP) – Nepal’s state-owned oil company on Wednesday hiked petrol prices by nearly 10 percent, the second increase in the last two months, to meet a rising import bill in the landlocked nation, officials said.Shah said there would be a gradual improvement in supplies in the next few weeks. “The […]
Benazir Bhutto dead in Pakistan attack
RAWALPINDI, Pakistan, Dec 27, 2007 (AFP) – Pakistan opposition leader Benazir Bhutto was killed Thursday in a suicide attack at a campaign rally, the interior ministry told AFP. A suicide bomber blew himself up just after the rally and it was not immediately clear how she died. “It may have been pellets packed into the […]
Russia tries to counter weak macro-management with agriculture
MOSCOW, Dec 27, 2007 (AFP) – President Vladimir Putin on Thursday urged government ministers to fight inflation by making Russia’s agriculture sector competitive against foreign food imports.The bank’s earlier 2008 inflation target was between six and seven percent.“One of the key tasks for 2008 is to fight inflation. Unfortunately we have not been successful at […]
Mobile Auction
Dec 27, 2007 (LBO) – Sri Lankan fisherman are using mobile phones to ‘auction’ their catch before reaching shore, allowing them to get better prices, backed by better bargaining power, an official said. Once the fishermen land their catch, it has to be sold quickly before the fish starts to spoil. “As soon as they […]
Media Rumpus
Dec 27, 2007 (LBO) – A Sri Lanka minister who was held hostage by angry colleagues inside a television station after he assaulted the news chief of the broadcaster was rescued by commandos, an LBO journalist at the scene said. Chandrasekera’s colleague Lal Mawalage said this was the first time the Rupavahini Corporation had acted […]
Heavenly Alerts
Dec 27, 2007 (LBO) – A digital satellite radio disaster alert system that can be remotely activated which was field tested in Sri Lanka is now ready for use in the region to give early warning of tsunamis, officials said. The Addressable Radio for Emergency Alert (AREA) system can send disaster alerts within seconds of […]
Sri Lanka meets reserve money targets, inflation goes haywire
Dec 26, 2007 (LBO) – Sri Lanka’s central bank kept its policy rates frozen in December with inflation raging close to 20 percent a month before, but said reserve money targets have been met this year. . Updated The Central Bank’s policy rates remained unchanged at 12.00 percent, far below inflation as the monetary authority […]
Sri Lanka detains French TV crew
Dec 25, 2007 (AFP) – Sri Lanka detained two foreign television journalists and 11 locals from a Tamil family they were filming in the island’s south, police said Tuesday. The two-member crew of France 24 were detained overnight at Ratgama, 105 kilometres (65 miles) south of the capital, after they were taken into custody by […]
Sri Lanka navy boards suspicious ship
Dec 26, 2007 (LBO) – Sri Lanka’s navy is investigating a ship off the island’s east coast on suspicion that it could be a Tamil Tiger arms smuggling vessel, navy officials said Wednesday The suspicious vessel was detected some 90 nautical miles east of Arugam Bay, a small coastal resort town in eastern Sri Lanka. […]
Sri Lanka navy, Tigers in naval clash
COLOMBO, Dec 26, 2007 (AFP) – Sri Lanka’s navy Wednesday clashed with suspected Tamil Tiger vessels off the island’s northern coast of Jaffna, leaving at least 40 rebels dead, the defence ministry said. Twelve naval fast attack craft, backed by an Mi-24 helicopter gunship, confronted a flotilla of 16 rebel boats off the southern seas […]
Bridge Building
MATARA, Sri Lanka, Dec 26, 2007 (AFP) – Sri Lanka marked Wednesday the third anniversary of the devastating Asian tsunami by opening a showpiece bridge in the south of the island where 31,000 people died.President Mahinda Rajapakse formally commissioned the 116-metre (383 feet) bridge across the Nilwala river here in this southern coastal town of […]
Sri Lanka 3-month treasuries soar to 21.30-pct
Dec 26, 2007 (LBO) – Sri Lanka’s 3-month treasury bill yield soared 116 basis points to 21.30 percent amid a year-end cash crunch as the Central Bank refrained from printing money to intervene in the bill auction Wednesday.During the past four weeks, 3-month yields have shot up 523 basis points, 6-month 220 basis points and […]