Category:
US, other envoys meet to discuss Sri Lankan fighting
NEW YORK, September 24, 2008 (AFP) – US, European Union, Japanese and Norwegian envoys met here Wednesday to discuss the latest fighting in Sri Lanka, including the need for both sides to protect civilians, a US diplomat said. “The fighting has been expanding, heading toward the north,” Richard Boucher, the assistant secretary for south Asian […]
Oil prices drop, despite tumbling US energy stockpiles
LONDON, September 24, 2008 (AFP) – Oil prices dipped on Wednesday, erasing earlier gains and continuing this week’s roller-coaster ride, as traders set aside news that US crude inventories plunged last week. New York’s main contract, light sweet crude for November delivery, fell 84 cents to 105.77 dollars per barrel. Brent North Sea crude for […]
Bush calls McCain, Obama, leaders to White House
WASHINGTON, September 25, 2008 (AFP) – US President George W. Bush will host White House rivals John McCain and Barack Obama, as well as top lawmakers, for economic crisis talks on Thursday, a spokesman said Wednesday. Bush, who telephoned Obama around 7:30 pm (1130 GMT), hopes “to work on driving toward a bipartisan and timely […]
Sri Lanka shares becalmed, Chevron unit draws interest
Sept 24, 2008 (LBO) – Sri Lankan shares ended barely changed Wednesday with turnover slumping to very low levels as investors stayed away owing to uncertainty about future company earnings and the economy, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price […]
Chinese Partners
Set 24, 2008 (LBO) – HSBC Sri Lanka said it had arranged a 45 million US dollar loan backed by Sinosure, China’s export credit agency, to fund an expansion of Sri Lanka Telecom’s cellular unit Mobitel. Leisha De Silva Chandrasena, chairperson of Sri Lanka Telecom, says the expansion project will provide high speed internet, mobile […]
Finance Merger
Sept 24, 2008 (LBO) – Sri Lanka’s Ceylinco Finance said it plans to merge with its subsidiary Asian Finance in a seven for two share swap. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The company said in a stock exchange filing that the merger and share […]
Legal Promise
Sept 24, 2008 (LBO) – Sri Lanka will bring in tighter laws to nab fraudsters who run fraudulent deposit scams, a government minister said, after the collapse of the latest Ponzi-style high yield scheme. Minister Ranjith Siyambalapitiya was responding to a question from parliamentarian Wimal Weerawansa. A person calling himself Sakvithi Ranasinghe had collected hundreds […]
‘s Move
NEW YORK, September 23, 2008 (AFP) – Tycoon Warren Buffet’s Berkshire Hathaway has agreed to buy five billion dollars of stock in Goldman Sachs, and could double its stake within five years, the Wall Street bank said late Tuesday. Under the terms of the agreement, Berkshire Hathaway is buying five billion dollars of perpetual preferred […]
Sri Lanka tourist trade to boost local travel as foreign arrivals fall
Sept 24, 2008 (LBO) – Sri Lanka’s tourism promotion agency has launched a campaign to encourage local travel as part of efforts to revive the industry, hit hard by escalating conflict that has reduced foreign arrivals. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 “We see untapped […]
Soft License
Sept 24, 2008 (LBO) – The Sri Lanka unit of Toroid, a Scandinavian transformer maker has licensed Microsoft software for its factories in an export processing zone in the island, Microsoft said.The software firm said its ‘Microsoft Enterprise Agreement’, which is tailored for use by firms that have more than 250 workstations, could bring savings […]
Sri Lanka opposes EU human rights probe to renew GSP+ benefits
Sept 24, 2008 (LBO) – Sri Lanka has opposed a European Union probe into human rights in the island to see if it meets conditions required to renew a trade deal giving duty free access to European markets. Bogollagama sought the meeting with Ferrero-Waldner after learning of European Commission plans to conduct an investigation on […]
Malaysia cuts fuel prices again
KUALA LUMPUR, September 24, 2008 (AFP) – Malaysia Wednesday announced another 3.9 percent cut in petrol prices, following recent declines in world oil prices. Prime Minister Abdullah Ahmad Badawi said the price of petrol will be cut by 10 sen to 2.45 ringgit (0.72 dollars) while diesel prices will be cut by the same amount […]