Author: lbostgadmin
” but severely undervalued
WASHINGTON, Dec 20, 2007 (AFP) – The US government declined to name China a currency “manipulator” but said in a report Wednesday that the Chinese yuan remains severely undervalued against the dollar.The Treasury, in a semiannual report to Congress, maintained its position that China should quicken its pace of economic reforms that would help lift […]
‘s Deccan and Kingfisher airlines to merge
BANGALORE, India, Dec 20, 2007 (AFP) – India’s biggest discount carrier, Deccan, will merge with liquor baron Vijay Mallya’s upmarket Kingfisher Airlines to create the nation’s biggest domestic airline, officials said.The firm formed by the merger next year will keep the name Kingfisher, the flagship beer brand of Mallya’s UB Group, officials from the two […]
Sri Lankan Airlines okayed to train techies by EU
Dec 20, 2007 (LBO) – The aviation safety agency of the European Union has certified Sri Lankan Airlines to train maintenance technicians, the airline said Thursday. “SriLankan Airlines is now one of the few companies in Asia to receive the globally recognized EASA 147 certification from the European Aviation Safety Agency, to provide training in […]
Not Resident
Dec 20, 2007 (LBO) – Sri Lanka’s immigration authorities have informed Sri Lankan airlines Thursday, that its chief executive Peter Hill’s resident visa has been cancelled, an official said. Hill had started his carrier as a trainee at British Airways forerunner British Overseas Airline Corporation in 1961. Hill, a Briton, was appointed by Emirates airlines, […]
Financial Health
Dec 20, 2007 (LBO) – Sri Lanka’s financial sector has so far been resilient in the face of shocks but risks are increasing as the economy heads for tough times, the International Monetary Fund (IMF) has warned. Rising interest rates likely to affect profitability of banks while credit quality is weakening as a result of […]
Sri Lanka rupee closes higher on equity flows; money spikes
Dec 20, 2007 (LBO) – The Sri Lanka rupee closed higher against the greenback as money spiked in tight conditions Thursday, while the state debt office was again fishing for cash with short term bills offers, dealers said. Reserve money on Thursday was 270.4 billion rupees, marginally higher than the year-end target. Stocks closed marginally […]
Sri Lanka economy expands 7.0 pct in third quarter
Dec 19, 2007 (LBO) – Sri Lanka’s economy has expanded 7.0 percent in the third quarter up from 6.4 percent in the second quarter, putting the country on track to clock up 6.7 percent growth in 2007, officials said. However, growth slackened from the 7.7 percent for the same quarter in 2006 with a downturn […]
Sri Lankan industrialists demand protection
Dec 19, 2007 (LBO) – Sri Lankan industrialists and leftwing politicians have called for protection as an opening economy that is integrating with the world threatens to give cheaper goods to consumers and put them out of business. However, Commerce Department officials said the opening up of the economy in recent years had given the […]
Sri Lanka police say blast near train
Dec 19, 2007 (AFP) – A trackside blast hit a passenger train in northeastern Sri Lanka Tuesday, but there were no casualties, police said.The incident occurred at Kantalai in the port district of Trincomalee, a police official in the area said by telephone. “There was some sort of an explosion by the side of the […]
‘s Jayawardene, Dilshan punish England fumbles
GALLE, Sri Lanka, Dec 19, 2007 (AFP) – Sri Lankan captain Mahela Jayawardene was one run away from becoming his country’s leading centurion as England paid dearly for missed chances in the third Test here on Wednesday.Jayawardene was unbeaten on 99 as Sri Lanka took their overnight total of 147-4 to 287-6 by tea on […]
‘s Jayawardene torments England in final Test
GALLE, Sri Lanka, Dec 19, 2007 (AFP) – Skipper Mahela Jayawardene became Sri Lanka’s leading century-maker on Wednesday to dampen England’s hopes of a series-levelling win in the third and final Test here. Jayawardene was unbeaten on 149 as Sri Lanka, taking advantage of a butter-fingered English display, carried their overnight score of 147-4 to […]
Arctic towns make a killing on Santa Claus
ROVANIEMI, Finland, Dec 19, 2007 (AFP) – SantaSport, SantaFood, SantaPark, Hotel Santa Claus, Santa Hair Center: in the Finnish Arctic town of Rovaniemi Father Christmas is everywhere, milked to the max by local businesses.“Christmas tourism is a magnet for investments,” says Tuula Rintala-Gardin, the head of tourism for the municipality of Rovaniemi, a town of […]