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Sri Lanka Brandix says cleaner production makes economic sense
Oct 21, 2008 (LBO) – Sri Lankan apparel exporter Brandix group said its cleaner production efforts are driven not only by environmental imperatives but because they help cut costs and improve efficiency.New manufacturing methods that are cleaner than older ones are motivated by environmental imperatives, Brandix Casualwear Managing Director A J Johnpillai said. But they […]
Sri Lanka August export growth driven by commodities as garments falter
Oct 21, 2008 (LBO) – Sri Lanka’s August 2008 export earnings went up 16.6 percent to 761 million dollars from a year ago, driven largely by the boom in agricultural exports, the central bank said Tuesday. Spending on investment goods were up 21.3 percent to 1,976 million dollars in the eight month period. The central […]
India plans to complete global 3G spectrum auction in January
NEW DELHI, October 21, 2008 (AFP) – India said Tuesday its planned global auction for airwaves to offer high-speed third generation mobile phone services will likely be completed by mid-January.The auction of 3G phone spectrum could spur greater growth in the world’s fastest-expanding mobile market, which has been adding eight million new subscribers monthly, and […]
Iran hopes OPEC cut would push oil prices to 150 dollars
TEHRAN, October 21, 2008 (AFP) – Iran’s oil minister said on Tuesday that Tehran believes OPEC should cut production by between two million and 2.5 million barrels a day, and that prices could go higher than 150 dollars a barrel.Attiyah also said OPEC “might be obliged to reduce production to balance supply and demand,” at […]
Obama to dash to side of sick grandmother
WEST PALM BEACH, October 21, 2008 (AFP) – Democrat Barack Obama will leave the White House trail later this week to dash to the side of his gravely ill 85-year-old grandmother in Hawaii, just 11 days before the election. The Illinois senator will cancel events in midwestern Iowa and Wisconsin and head to his native […]
Chinese exporters gear up for worst crisis in their miracle rise
CIXI, October 21, 2008 (AFP) – Richard Fan is preparing for what may be the worst crisis of his six-year manufacturing career as the world markets that made his business in eastern China thrive are drying up at an alarming rate. Standing on the shop floor of Henwei Industrial, which produces everything from bottle openers […]
Anti-dumping probes surge 39 percent in first half of 2008: WTO
GENEVA, October 20, 2008 (AFP) – The number of anti-dumping probes launched by trading nations against alleged unfairly-priced imports surged 39 percent in the first half of the year, with China a key target, the WTO said Monday. Between January and June 2008, 16 World Trade Organization members initiated 85 new probes, compared to 61 […]
Aussie non-banks face run after government guarantees banks deposits
SYDNEY, October 21, 2008 (AFP) – Australia’s largest mortgage fund, Challenger Howard, is set to freeze investor redemptions following a rush of withdrawals sparked by the government’s guarantee of bank deposits, a report said Tuesday. The Australian Financial Review reported that the 2.9-billion-dollar (two billion US) fund would act imminently to prevent a flight of […]
Fed chief backs US spending plan as markets clutch at latest straw
WASHINGTON, October 21, 2008 (AFP) – The head of the US Federal Reserve backed a stimulus plan for the flagging American economy, buoying stock markets despite gloomy unemployment figures and fears the rebound could be limited. Asian markets tracked gains on Wall Street, where stocks soared after Fed chief Ben Bernanke said US lawmakers should […]
Sri Lanka stocks tumble, Dialog block changes hands
Oct 20, 2008 (LBO) – Sri Lankan shares fell over 1.5 percent Monday with large trades in blue chips as fears remained that foreign investors might sell and put their money in other markets that have fallen steeply, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to […]
Southern Shipping
Oct 20, 2008 (LBO) – The Sri Lanka Ports Authority (SLPA) is to invite investments from the private sector early next year to set up business in a new port being built in the southern region.Wickrema said the SLPA will invite proposals for businesses in the port such as warehousing, and cement and fertiliser manufacture. […]
State Props
PARIS, October 19, 2008 (AFP) – Nations around the world took new emergency steps Sunday to shore up the international banking system and restore investor confidence, as a yawning finance crisis continued to roil global markets. The crisis led Sunday to the ouster of the top brass at a top bank in France and prompted […]