Author: lbostgadmin
Sri Lanka Central Bank ups rates; more hikes likely
July 24, 2006 (Dow Jones)–The Central Bank of Sri Lanka raised the repurchase rate and the reverse repo rate by 12.5 points each over the weekend, the second consecutive hike this year, pushing both rates up to a three-year high in a bid to fight inflationary pressures and support the rupee. But analysts say the […]
Sri Lanka security alert as Tigers mark Black July
July 23, 2006 (AFP) – Sri Lanka Sunday stepped up its already tight security arrangements in the capital as Tamil Tiger rebels marked “Black July,” or the 23rd anniversary of anti-Tamil riots here, police said.Police and troops set up more road blocks and tightened security at key installations amid fears that the Liberation Tigers of […]
Burgeoning trade ties no guarantee of Asian peace: analysts
SINGAPORE, July 23, 2006 (AFP) – Burgeoning economic links through a web of free trade agreements (FTAs), financial cooperation and investments may reduce the risk of war in Asia but are no guarantee of peace, analysts say.Nationalist sentiments and historical animosities between major Asian countries could sideline economic considerations should tensions come to a boiling […]
Cooking oil cars turn the table on high fuel prices
WASHINGTON, July 21, 2006 (AFP) – A growing number of Americans are setting up mini-refineries in their homes to produce biodiesel, a fuel made from waste cooking oil which is cleaner and cheaper than the petrol sold in gas stations.The sky-high price of crude oil is scaring everyone. Biodiesel has Hollywood backers like actress Julia […]
Lace Curtain
July 22, 2006 (LBO) – Sri Lanka is to form a national media policy to regulate content aired on local television channels, President Mahinda Rajapakse said Saturday, during a meeting with heads of local broadcasting stations. Rajapakse said a consultative committee will also be formed on Monday to iron out procedures and regulations that will […]
Back Onboard
July 22, 2006 (LBO) – Sri Lanka’s main port is limping back to work following government assurance to consider striking workers demand for a pay hike, an official said Saturday. “The unions called off the strike after a government delegation led by the shipping minister agreed to resolve the issue of a salary increment within […]
Going Up
LONDON, July 21, 2006 (AFP) – Oil prices firmed on Friday but remained below recent record peaks as traders paused for breath after a week of volatile trading, dealers said. New York’s main contract, light sweet crude for delivery in September, added 10 cents to 74.37 dollars per barrel in electronic deals before the official […]
Tigers reject Swedish call to reconsider kicking out EU monitors
COLOMBO, July 21, 2006 (AFP) – Sri Lanka’s Tamil Tiger rebels Friday rejected a call from Sweden to reconsider a September 1 deadline for truce monitors from European Union member states to quit, a pro-rebel website said. The Tamilnet.com website said Tigers told a visiting Swedish envoy that ceasefire monitors from EU member states Denmark, […]
Two more killed as Sweden envoy attempts to save Sri Lanka truce
COLOMBO, July 21, 2006 (AFP) – Sri Lanka’s Tamil Tiger rebels Friday rejected a call from Sweden to reconsider a September 1 deadline for truce monitors from European Union member states to quit, a pro-rebel website said. Deaths are reported almost daily, mainly in the island’s troubled northeast where troops and rebels clash and where […]
Former Sri Lanka captain prefers cricket to politics
July 21, 2006 (AFP) – Former Sri Lanka cricket captain Arjuna Ranatunga said on Friday his love for the sport forced him to resign from the post of deputy minister in the government.“I love cricket above everything else and I am what I am today because of the game,” said Ranatunga, who resigned as deputy […]
Weary foreigners ramp up mass exodus from Lebanon
NICOSIA, July 21, 2006 (AFP) – Thousands of foreigners huddled in makeshift transit centres Friday, weary but relieved, as governments around the world ramped up a mass evacuation from the raging conflict in Lebanon. Warships, cruisers and ferries criss-crossed the eastern Mediterranean from ports in Lebanon toward Cyprus and Turkey, packed with refugees, while planes […]
Better Terms
July 21, 2006 (LBO) – Sri Lanka may still keep its duty free benefits to Europe when an EU trade deal ends in 2008, with the scheme to be extended for a further seven years. Under the Generalised System of Preferences plus (GSP+) scheme, Sri Lanka gets duty free access for exports to the European […]