Author: lbostgadmin
Dollar falls against euro on ECB rate expectations; yen slips
NEW YORK, Aug 23, 2007 (AFP) – The dollar traded mainly lower Thursday as the euro gained ground on heightened expectations of an interest rate hike next month by the European Central Bank.But the greenback firmed against the yen, which came under selling pressure after the Bank of Japan held its key benchmark lending rate […]
No more live sex-changes on Chinese TV
BEIJING, Aug 24, 2007 (AFP) – China has banned a blood-spattered genre of reality TV shows where patients undergo sex-change operations and cosmetic surgery live in front of mass audiences.It is estimated that one million Chinese undergo plastic surgery every year, according to state media reports.The “exhibitionist” programmes serve the sole purpose of boosting viewer […]
Walkman powered by carbo diet
TOKYO, Aug 24, 2007 (AFP) – Bread and potatoes are sources of human energy, and now a carbohydrate diet is also powering up a Walkman. Sony was also hit last year by the recall of millions of laptop batteries over fears they could catch fire.Japanese technological giant Sony Corp., hoping to be eco friendly, said […]
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SINGAPORE, Aug 24, 2007 (AFP) – Asian economies should weather any fallout from the current turmoil in global financial and stock markets sparked by a crisis in the US subprime credit sector, Standard and Poor’s said Friday.Quick action by central banks worldwide, including those in Asia, to inject liquidity into the financial system has eased […]
‘s Ceylon Tea Services reports slow down in tea bag exports
Aug 24, 2007 (LBO) – Tea bag exporter Ceylon Tea Services Ltd., part of the Dilmah brand group, said net profit fell 7.1 percent to 152 million rupees for the quarter ended June 30, 2007. Revenue fell 1.2 percent to 738 million rupees in the same period, according to interim results. The company is one […]
Sri Lanka hosts global tea forum to discuss production, standards
August 24 (LBO) – Experts from the world’s top tea producing and consuming countries will meet in the Sri Lankan capital Colombo next week to discuss issues concerning sustainable production and food safety standards. This meeting, being organized by the Sri Lanka Tea Research Institute with the Tea Board and CTTA, will see scientists from […]
Sri Lanka tea trade charges cess fund delays jeopardizing industry
August 24 (LBO) – Sri Lanka’s tea trade, the island’s main export earner, has said funds raised from a tax on exports are still not being ploughed back adequately to develop the industry despite numerous complaints. Delays and inadequate disbursements are hindering factory modernization work and tea promotion in highly competitive global beverage markets, exporters […]
Finance Rating
August 23, 2007 (LBO) – Lanka Ratings Agency (LRA) has confirmed an A2 long-term institutional rating of Mercantile Investments with a stable outlook. LRA is a 100 percent-owned subsidiary of RAM Holdings Berhad of Malaysia. RAM is also an affiliate of Standard & Poor’s, the world’s largest rating agency. Corrected Mercantile Investment is the third […]
Good Intentions
August 24, 2007 (LBO) – Sanasa Development Bank (SDB), a Sri Lankan bank that promotes micro finance hopes to expand its network to northern and eastern province an official said. The micro finance institution has increased its branches up to 30 throughout the island during the firm’s first catering to an increasing number of account […]
Sri Lanka rupee eases against greenback in early trade
August 24, 2007 (LBO) – The Sri Lanka rupee eased towards a resistant level on the figure with spot deals touching 112.67 against the greenback in intra-day trading Friday, dealers said.The Sri Lanka rupee has largely held steady against the greenback in recent weeks while most regional currencies, including the Australian dollar, lost ground sharply. […]
Sri Lanka rupee floats to new level
August 24, 2007 (LBO) – The Sri Lanka rupee closed Friday with bids at 112.70 against the greenback with the highest deal at 112.67 in spot trade in a day that it floated freely with no intervention from the authorities, dealers said. The week closed with bids for the spot dollar at 112.70 and offers […]
Sri Lankan corporates form alliance to combat HIV/AIDS
Aug 23, 2007 (LBO) – Sri Lankan companies have formed a business coalition on HIV/AIDS saying increasing awareness and gearing up workplaces to handle the pandemic helps reduce its financial and economic costs. “HIV affects the most productive segment of the society. We need to promote a coordinated, standardised HIV workplace program approach,” Jaspal Bindra, […]