Author: lbostgadmin
Pakistan to sack 80 cricket officials
ISLAMABAD, April 17, 2007 (AFP) – The Pakistan Cricket Board said Tuesday it will sack 80 employees, including some senior management officials, in the wake of the national team’s World Cup fiasco.Pakistan were ousted from the tournament after a humiliating defeat by minnows Ireland on March 17.Coach Bob Woolmer was found murdered in his hotel […]
US firms to make biodiesel from beef, poultry by-products
WASHINGTON, April 16, 2007 (AFP) – A new biofuel project will mean what’s for dinner may also be what goes in the fuel tank with ConocoPhillips and Tyson Foods joining forces to make diesel fuel from animal byproducts. The project announced Monday will produce “the next generation of renewable diesel fuel,” to help supplement petroleum-based […]
Wal-Mart reclaims top spot on Fortune 500 list
NEW YORK, April 16, 2007 (AFP) – US retailer Wal-Mart Stores has dethroned oil giant ExxonMobil from the top position in the Fortune 500 list of America’s biggest companies, the magazine announced Monday. The magazine said Wal-Mart saw an 11.2 percent increase in its 2006 revenues to 351.1 billion dollars, eclipsing the 347.3 billion raked […]
Sri Lanka tourism downturn delays Rs500mn Serendib re-branding
April 17, 2007 (LBO) – A downturn in tourism triggered by escalating violence has forced Serendib Hotels to put off plans to re-brand three hotels with a foreign leisure group, its holding company Hemas said. The mass market is still coming and our Dolphin hotel is doing well. Hotel Serendib, Bentota, controlled by the public-listed […]
Sri Lanka treasury yields rocket as central bank continues tight stance
April 17, 2007 (LBO) – Sri Lanka’s 3-month treasury yield shot up at an auction by more than 43 basis points to 15.44 percent Tuesday with overnight rates already at 30 percent levels. Sri Lanka’s central bank has been staying away from printing money in primary auctions and allowing rates to adjust upwards to draw […]
Sri Lanka fridge maker ramps up production with electricity use spreading
April 16, 2007 (LBO) – Regnis, a Sri Lankan refrigerator maker, has ramped up production to be among the ten largest plants in South Asia as more households sign up for electricity usage, the company told shareholders.“We have done everything possible to stabilize our business operations after the said detection and we regret this unfortunate […]
Conflicts doubled global displacement in 2006, report says
GENEVA, April 16, 2007 (AFP) – The number of people displaced within their own countries by conflicts doubled last year, pushing the global total to 24.5 million, an international monitoring centre said Monday. Apart from hundreds of thousands of people in Lebanon, other large-scale returns were reported during 2006 in South Sudan (800,000), the Democratic […]
Pricey Burn
April 16, 2007 (LBO) – A litre of diesel may be raised by five rupees tomorrow in the face of rising global oil prices, Ceylon Petroleum Corporation Chairman Ashantha de Mel said. “Though increases in fuel prices raised the price level, its overall impact on the future inflation will be to lower the inflation, since […]
Ireland upstage Bangladesh in their Cup final
BRIDGETOWN, Barbados, April 15, 2007 (AFP) – Ireland put up a spirited show to beat Bangladesh by 74 runs to win the battle of the giantkillers and raise their hopes of avoiding the World Cup Super Eights wooden-spoon. Ireland’s impressive total of 243-7 was built around a steady 85 by William Porterfield and 48 by […]
” Moody bats for Sri Lanka in Aussie encounter
ST GEORGE’S, Grenada, April 16, 2007 (AFP) – Sri Lanka coach Tom Moody has insisted he won’t have any problems watching his side take on Australia, the country he represented as a player. Reigning champions Australia meet Sri Lanka in a World Cup Super Eights match at Grenada’s National Stadium here Monday, with both teams […]
Minority Protection
April 16, 2007 (LBO) – Sri Lanka’s long-delayed new Companies Act offers greater protection for minority shareholders and could encourage more firms to list on the Colombo bourse while increasing market liquidity, experts have said. All existing firms must register again with the Registrar of Companies so that dormant ones can be weeded out under […]
Country Focus
April 16, 2007 (LBO) – Sri Lanka tourism, tea, food, export products and culture would be on show in Los Angeles next month, the country’s consulate general’s office in the city said. A ˜Cooking with Tea™ demonstration by celebrity chef Robert Wemischner, a pottery wheel demonstration and a tea queen beauty pageant would be part […]