Category:
Migrant Risks
Oct 16, 2008 (LBO) – The Asian Human Rights Commission (AHRC) has urged Sri Lanka to help three workers facing execution in Saudi Arabia saying the government should do more for migrant workers who earn foreign exchange.“The imminent execution of three Sri Lankans on the Saudi Arabian death row can be prevent only by the […]
‘s cuts reserve ratio again to 6.5-pct for liquidity
MUMBAI, October 15, 2008 (AFP) – India’s central bank said Wednesday it was injecting a further 400 billion rupees (8.25 billion dollars) into the financial system by cutting the cash reserve commercial banks must hold to 6.5 percent. The move by the Reserve Bank of India is the third such cut in the past two […]
Sri Lanka steps up air strikes on rebels, food convoy blocked
October 16, 2008 (AFP) – Sri Lanka’s military on Thursday stepped up attacks against suspected Tamil Tiger positions in the island’s north and accused the rebels of blocking a UN-escorted food convoy.The UN’s World Food Programme was escorting a convoy of trucks taking essentials for hundreds of thousands of people in rebel-held areas on Thursday […]
Sri Lanka must prove it meets GSP+ conditions: UK envoy
Oct 16, 2008 (LBO) – British high commissioner Peter Hayes said Thursday his government hopes Sri Lanka will be able to renew the GSP+ trade deal that allows duty free exports to the European Union. Britain hopes the government will be able to provide the evidence needed to show it has complied with the conditions […]
Europe urges global finance reform as stocks take new hammering
PARIS, October 16, 2008 (AFP) – Calls mounted Thursday for an overhaul of the global financial system as stocks took a new hammering and Switzerland took drastic action to defend its prized banks with a 60 billion dollar package for UBS. The Tokyo stock market suffered its worst loss for two decades, closing down more […]
Leaders eye finance overhaul as markets tumble
TOKYO, October 16, 2008 (AFP) – Emergency measures to tackle the financial crisis provided little relief for nervous investors Thursday, as stock markets around the world took a battering on fears of a global recession ahead. With most analysts now considering a US recession inevitable, markets looked beyond the current wave of bank rescue packages […]
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WASHINGTON, October 16, 2008 (AFP) – With recession fears for the US economy growing by the day in the wake of a global financial crisis, analysts are pondering the questions of how deep and how wide the downturn will be.Reinforcing those fears, the Commerce Department reported that US retail sales — a key to economic […]
Wall Street suffers historic savaging
NEW YORK, October 15, 2008 (AFP) – Wall Street stocks plunged Wednesday in the second biggest single day point loss in history and their worst percentage fall in two decades, ravaged by fears the world’s biggest economy is slipping into recession. The Dow Jones Industrial Average slid 733.08 points (7.87 percent) to close at 8,577.91 […]
Burst Bubble
LONDON, October 16, 2008 (AFP) – Oil prices slumped further on Thursday, with Brent crude sliding below 68 dollars a barrel to the lowest level for more than 15 months, as slowing energy demand took its toll, traders said.Crude oil futures were down more than 50 percent from record highs of above 147 dollars reached […]
’s emerging middle class spend more on convenience
Oct 16, 2008 (LBO) – Changing Sri Lankan middle class consumer habits and inflation reducing spending power is forcing consumer goods marketers to change strategies to keep growth ticking. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Emerging middle class consumers are showing a growing preference for […]
Sri Lanka shares rise again, but Q3 earnings seen crucial
Oct 15, 2008 (LBO) – Sri Lankan shares rose again Wednesday, regaining some ground lost in last week’s plunge but brokers said the recovery’s sustainability would depend on quarterly earnings. The Colombo bourse had fallen heavily last week, as other markets crashed. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and […]
Terminal Trends
Oct 15, 2008 (LBO) – The Maersk group, which runs the world’s biggest shipping line, may be interested in investing in a new container terminal in the planned new deep-draft port next to Colombo, a company official said.“The last time APMT did not participate because it was involved in too many projects and its resources […]