Author: lbostgadmin
Sri Lanka mediaman killed by unidentified gunmen
August 01, 2007 (LBO) – Gunmen on a motorcycle shot and killed a journalist in Sri Lanka’s northern Jaffna peninsula Wednesday, the Free Media Movement (FMM), a media rights group, said. Nilakshan Sahapavan (22), a journalism student of the Jaffna Media Resource Training Centre (MRTC) and a part-time journalist, was shot around 4.00 a.m. during […]
Thailand inflation plunges near four-year low in July
BANGKOK, Aug 1, 2007 (AFP) – Thailand’s inflation rate hit a 43-month low of 1.7 percent in July, despite rising food prices, as consumption remained slow, the Commerce Ministry said Wednesday.It was the fifth consecutive rate cut this year and came amid government calls on the bank to tame the volatile baht after the currency […]
EU welcomes ASEAN plan for single market
MANILA, Aug 1, 2007 (AFP) – The European Union’s foreign policy chief Javier Solana on Wednesday welcomed Southeast Asia’s plans to create a single market by 2015.Speaking at an Asian security summit in the Philippines, Solana said Europe was following “with the greatest interest” the plans of the Association of Southeast Asian Nations (ASEAN). “We […]
Murdoch wins control of Dow Jones
NEW YORK, Aug 1, 2007 (AFP) – Media tycoon Rupert Murdoch has won control of Dow Jones & Co. and The Wall Street Journal newspaper in a five billion dollar takeover, the US company confirmed Wednesday. Dow Jones’s assets also include Barron’s magazine, MarketWatch, DowJones Newswires, the Dow Jones Indexes and the Ottaway group of […]
Aborigine wrenched from family wins landmark claim against Aussie govt.
SYDNEY, Aug 1, 2007 (AFP) – An Aborigine removed from his family as a baby in 1958 has won compensation in a landmark court case over Australia’s “stolen generation” scandal, the national broadcaster reported Wednesday.Bruce Trevorrow was awarded damages of 525,000 dollars (448,717 US dollars) in the first such case to have succeeded, the Australian […]
World stocks in meltdown over US economy fears
LONDON, Aug 1, 2007 (AFP) – European and Asian stock markets plummeted Wednesday, mirroring heavy losses the previous day in New York, on mounting fears that weakness in the US housing sector could infect the world economy.In London, Frankfurt and Paris the main share indices were down almost 2.0 percent nearing the half-way stage. The […]
Bad TRIP
August 01, 2007 (LBO) – Developing countries Sri Lanka must be provided policy space in areas like intellectual property and get a comparative advantage in world markets, academics say. “The trade rules, even though biased against developing countries, have still created a situation which developing countries with the right policies might be able to succeed […]
No Hassle
August 1, 2007 (LBO) – Sri Lanka’s Union Assurance made it easier to claim motor accident insurance in the highly competitive industry by allowing policy holders to drive off without waiting for assessors to arrive for inspections. A few years ago another insurer transformed the industry by doing away with the requirement for a police […]
Sri Lanka needs more protectionist agricultural policies: agri economist
August 01, 2007 (LBO) – Sri Lanka needs a more protectionist trade policy to ensure vulnerable sections of society are protected from the negative effects of liberalization while enabling its advantages to be exploited, a top agricultural economist said. This was one of the main reasons for the repeated failure of Doha talks, Herath said. […]
” offer for sovereign bond: CB Governor
August 1, 2007 (LBO) – Attractive offers from international banks for a sovereign bond has made it likely that Sri Lanka will raise 500 million dollars rather than 400 million dollars, Central Bank Governor Nivard Cabraal said. “It is likely that we will go for 500 million dollars,” Cabraal told LBO. “I think the rates […]
Sri Lanka to sell treasuries at post offices, central bank offices
August 01, 2007 (LBO) – Sri Lanka’s central bank which runs the public debt office for the finance ministry opened a new network of offices to sell treasury bills to retail customers with the help of a state-owned savings bank. . Treasuries Drive Sri Lanka to use post offices, central bank offices to retail treasury […]
Sri Lanka government workers eat up new tax revenues
July 31, 2007 (LBO) – Sri Lanka’s bloated public sector has consumed a bulk of the additional tax collections in the first five months of the year, with the salary bill rising 30 percent, data released by the finance ministry shows. During the last three years the treasury and revenue authorities have tightened loopholes and […]