Author: lbostgadmin
Asia overtaking US as biggest auto market: GM
CHICAGO, July 19, 2007 (AFP) – Asia is overtaking the United States as the largest market for auto sales, but the US will remain the more lucrative market for the next decade, a senior executive at General Motors said Thursday. Overall industry sales in the Asia Pacific region are expected to surpass North America for […]
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WASHINGTON, July 19, 2007 (AFP) – The International Monetary Fund is revising its economic growth forecasts amid a “global boom,” the IMF chief economist said Thursday, suggesting a bump up in official estimates. “We were criticized for being optimistic at the time of our spring forecast,” Simon Johnson told reporters, referring to an IMF April […]
Thailand to push Baht down
BANGKOK, July 20, 2007 (AFP) – The Thai prime minister on Friday agreed on new measures aimed at curbing the baht’s rise, while the central bank governor insisted the country would not return to a fixed exchange rate system.“My government has a clear stance that we want to stablise the currency,” army-installed Prime Minister Surayud […]
Book Fever
July 20, 2007 (LBO) — Thousands of Harry Potter fans in Sri Lanka have signed up to pick a copy of J.K. Rowling’s seventh, swansong book, amidst tight security, with bookstores sworn to ensure nothing is leaked out before the launch day, a spokesman for the publisher said.Over 10,000 copies of “Harry Potter and the […]
Bigger Results
July 20, 2007 (LBO) – A Sri Lanka-German initiative to give microfinance to tsunami victims had more than doubled its original target helping more than 2000 small business people and creating 6000 new job opportunities, officials said. At present 1.9 billion rupees is outstanding on 15,331 projects. The bank says the scheme has mobilized over […]
Seed Cover
July 20, 2007 (LBO) – HNB Assurance, a unit of Hatton National Bank, has tied up with the micro finance arm of Sarvodaya, a non-governmental organization, to launch micro insurance products for rural families.The micro insurance scheme ‘Sathkara’ has already been launched in Galle, Matara, Vavuniya and Batticaloa Sarvodaya societies as pilot projects to educate […]
Pricing Practice
July 20, (LBO) – Sri Lankan exporters and importers have called for a regulator to monitor the pricing practices of shipping lines, as freight rates move up and exporters are hit with fees outside the quoted rates. Jayanath Perera, outgoing chairman of the Sri Lanka Shippers’ Council, industry body representing firms engaged in international trade, […]
Sri Lanka promises eastern economic revival
July 19, 2007 (LBO) – Sri Lanka’s President Mahinda Rajapakse Thursday promised to wage an economic war to revive eastern areas of the country recently re-taken from the Tamil Tigers. “Economic freedom is as important as freeing territory,” the President said as the government held a televised ceremony to mark the fall of the last […]
Sri Lanka president says Tigers must choose war or peace
July 19, 2007 (AFP) – The Tamil Tigers must decide between war and peace, Sri Lanka’s president said Thursday as the government marked the capture of the rebels’ final bastion. Mahinda Rajapakse said he was leaving the door open for resuming negotiations with the separatist Liberation Tigers of Tamil Eelam (LTTE) which collapsed in October […]
Sri Lanka seeks to boost gem trade with consulate in Madagascar
July 19, 2007 (LBO) – Sri Lanka plans to establish a consulate in Madagascar mainly to encourage trade in gems and improve economic ties with the big island nation off the east coast of Africa. Out of the 52 countries in the African continent, Sri Lanka has resident missions in only Egypt, South Africa and […]
New revelations of gruesome India girl killings
NEW DELHI, July 19, 2007 (AFP) – India’s unwanted baby girls have been drowned in milk, burned alive in sealed mud pots or fed milk laced with poisonous seeds, but these days it is much easier to kill them in the womb.These are some of the chilling anecdotes in a new book on how a […]
‘s Malinga to bowl apparel brand
July 19, 2007 (LBO) – One of Sri Lanka’s top clothing exporters, Brandix Lanka, has hired fashionable fast bowler Lasith Malinga as the group’s ‘brand ambassador’. Malinga, whose tinted curls and explosive round arm action made him a star attraction at the 2007 Cricket World Cup, will promote its corporate social responsibility and human resources […]