Author: lbostgadmin
Zimbabwe inflation nears 1,600 percent
HARARE, Feb 12, 2007 (AFP) – Zimbabwe’s annual inflation rate, the world’s highest, soared again by more than 300 points to 1,593 percent in January, according to official figures released Monday. The often forcible seizure of white-owned farms which were then doled out to landless blacks often without any skills, tools or experience has been […]
” 6.58% inflation
NEW DELHI, Feb 13, 2007 (AFP) – India’s central bank tightened monetary policy on Tuesday for a second time in two weeks to fight surging inflation, announcing a 50-basis-point hike in the cash-reserve ratio requirement for commercial banks. The central bank has been using a variety of tools to fight inflation since it began a […]
Spam Slam
SINGAPORE, Feb 13, 2007 (AFP) – Email spammers will face new controls on their unsolicited advertising under proposed legislation introduced by Singapore. The draft Spam Control Act aims to control the electronic commercial messages sent in bulk by email or to mobile phones, according to the bill seen on Tuesday. It was introduced to parliament […]
IEA raises oil demand forecast for 2007
PARIS, Feb 13, 2007 (AFP) – The International Energy Agency raised its 2007 world oil demand estimates on Tuesday, saying that consumption has dropped in industrialised countries for the first time for two decades but was rising strongly in emerging economies such as China. Demand in countries outside the OECD industrialised nations would be 3.2 […]
UK minister calls for peace in Sri Lanka
February 12 (LBO) – A UK minister has called for a peaceful solution to the conflict in Sri Lanka and said a continuing violence will hold back development and tarnish the country’s image, ahead of a visit to the island. “Today’s British government has no greater wish for Sri Lanka than that it should find […]
Microsoft Mobile
HONG KONG, Feb 12, 2007 (AFP) – Microsoft announced Monday its new version of its Windows operating systems for mobile devices and said it won new Asian partners hoping to gain more market share from competitors, Symbian and Nokia. The US computer giant said Windows Mobile 6 has been added new features previously only available […]
GSM Olympics
BARCELONA, Spain, Feb 12, 2007 (AFP) – Leaders in the mobile phone industry gathered in Barcelona on Monday promising faster connections, more fun and cheaper calls at the start of one of the biggest trade shows for the sector. The 3GSM event is expected to draw 60,000 people over the next four days with 1,300 […]
Safe Deal
February 12 (LBO) – Sri Lanka wants an investment protection agreement with the Maldive Islands, visiting Sri Lanka Mahinda Rajapakse said, while calling for expansion of bi-lateral trade and joint action on tourism. The islands need foreign labour to run its booming low-inflation economy. . Sri Lanka’s top business conglomerates, such as John Keells and […]
Alien Invasion
Feb 12, 2007 (LBO) – In the deep south of Sri Lanka, native vegetation at a fragile wetland nature reserve is being chocked-out by an implacable foreign invasion. The Bundala national park, designated a globally valuable resource under the Ramsar convention on wetlands, covers 3698 hectares of scrub jungle and water bodies bordering the coast […]
Safety Revenue
February 12 (LBO) – The life business of Janashakthi Insurance grew by 26 percent in the year to December with branch expansion driving new business, while total gross premium reached 4.1 billion rupees, the company said Monday. Life business volumes reached 1,025 million rupees with first year life premiums growing by 37 percent to 479 […]
Steady Business
Feb 12 (LBO) – Rating agency Fitch Lanka affirmed Central Finance Company’s A+(lka)’ long-term rating on the strength of its vehicle financing business, with the firm also branching out into real estate. The company holds a 20 percent stake in licensed commercial bank Nations Trust Bank, and also has interests through associate and subsidiary companies […]
Sri Lankan president visits Maldives
MALE, Feb 11, 2007 (AFP) – Sri Lankan President Mahinda Rajapakse arrived in the Maldives on Sunday for a series of talks on bilateral trade, officials said.Rajapakse is due to meet Maldivian President Maumoon Abdul Gayoom for a one-on-one meeting followed by lunch with key government officials here. The Sri Lankan president is expected to […]