Author: lbostgadmin
Bangladesh Grameen borrowers face debt mountain after cyclone
AMTOLA VILLAGE, Bangladesh, Nov 24, 2007 (AFP) – Nearly 20 years ago when small loans from the Nobel peace prize winning Grameen bank first became available in her village, Bilkis Begum wasted no time in signing up.“The Grameen Bank has made profits from the interest we pay.We have also benefited, (but) I am telling the […]
Rudd sweeps to power in Australian landslide
SYDNEY, Nov 25, 2007 (AFP) – Centre-left leader Kevin Rudd stormed to victory in Australia’s election Saturday, ending conservative Prime Minister John Howard’s 11-year rule with pledges to change course on climate change and the Iraq war.Howard, US President George W. Bush’s closest ally in the Iraq war, conceded defeat in Sydney and admitted it […]
India, Malaysia to start FTA talks next year: report
KUALA LUMPUR, Nov 24, 2007 (AFP) – Malaysia and India will begin negotiating a free trade agreement in January 2008, a report said Saturday. Rafidah Aziz, Malaysia’s trade minister was quoted as saying a bilateral trade pact could boost Malaysia’s exports to India by 1.3 times, or 12 billion dollars, by 2012. The talks would […]
Double Show
Nov 24, 2007 (LBO) – After tax profits of Habib Bank in Sri Lanka almost doubled to 118 million rupees for the nine months ended September 2007, published company statements showed. The bank, a branch of the largest bank in Pakistan, posted an income of 285 million rupees for the three quarters ended September, up […]
Sri Lanka tightens monetary policy; discount rate 19-pct from December
Nov 23, 2007 (LBO) – Sri Lanka has tightened monetary policy by restricting access to a discount window and creating two policy rates, days after the Central Bank again failed to hike rates, despite raging inflation.The Central Bank loosened monetary policy in April 2007 despite criticism from independent analysts and printed 45.2 billion rupees for […]
Sri Lanka says 17 Tamil Tigers killed in coastal raid
Nov 23, 2007 (AFP) – Sri Lankan forces killed at least 17 Tamil Tiger rebels on Friday repulsing a guerrilla attack on a police post in the northwest, the defence ministry said. . The Liberation Tigers of Tamil Eelam (LTTE) despatched seven boats to attack the Pesalai police post on the coast of Mannar district, […]
Sri Lankan demands withdrawal of UNICEF staff
Nov 23, 2007 (LBO) – Sri Lankan has demanded the withdrawal of members of the international staff of the United Nations Children’s Fund (UNICEF) in Colombo who had taken part in a public demonstration. A Foreign Ministry statement said Friday the demand was made at a meeting with UNICEF’s Country Representative at which it expressed […]
‘s suspension of Pakistan
Nov 23, 2007 (AFP) – Sri Lanka Friday strongly objected to the Commonwealth’s decision to suspend emergency-ruled Pakistan despite having earlier supported the move.President Mahinda Rajapakse expressed “strong objections of Sri Lanka at the decision taken to suspend Pakistan from membership of the Commonwealth at the Commonwealth Heads of Government Meeting,” his office said in […]
Commonwealth suspends Pakistan for emergency rule
KAMPALA, Nov 22, 2007 (AFP) – A Commonwealth ministerial committee Thursday decided to suspend Pakistan from the 53-nation bloc pending the return of the rule of law following the imposition of emergency earlier this month. The CMAG comprises Britain, Canada, Lesotho, Malaysia, Malta, Papua New Guinea, St Lucia, Sri Lanka and Tanzania. A Commonwealth heads […]
Seabed project reveals earthquake, tsunami clues: scientists
TOKYO, Nov 23, 2007 (AFP) – An ambitious international project to dig deeper into the Earth’s surface than ever before has made a good start with scientists saying they have gained clues about how large earthquakes and tsunami occur. The deep-sea drilling project is a part of the 21-nation Integrated Ocean Drilling Program, which is […]
Forward Look
Nov 23, 2007 (LBO) – A manufacturing industry group has organized a forum on Sri Lanka’s monetary developments in a bid to understand what could happen in the future. “Many business enterprises are unsure about the future and wish to understand future scenarios in order to plan their future strategies, take advantage of possible opportunities […]
Sri Lankan spice trade seeks to entice corporate sector
Nov 23, 2007 (LBO) – Sri Lankan spice producers are urging the government to get big corporate plantations companies to grow more spice crops to meet growing global demand. “There is a need to grow more spices for export to the global markets,” the Spices and Allied Products Producers and Traders’ Association (SAPPTA) said in […]