Category:
Oil falls to 112 dollars
SINGAPORE, August 19, 2008 (AFP) – World oil prices fell further on Tuesday, dragged down by worries that weaker US oil demand could spread to Europe and Japan, analysts said.New York’s main contract, light sweet crude for September delivery, dropped 48 cents to 112.39 dollars a barrel. That came on top of a 90-cent drop […]
Should Sri Lanka have lower taxes or more government?
Aug 19, 2008 (LBO) – “One out of five people between 18 and 60 works for the government. One out of 20 Sri Lankans works for the government. To serve 20 people we have one government servant. We have increased their salaries and strengthened government in order to serve you.” This is a translated excerpt […]
Palmtop
Aug 18, 2008 (LBO) – Sri Lanka’s state-run Peoples’ Bank has started a new service with personal digital assistant (PDA) equipped officers visiting customer premises to offer banking facilities. The ‘palm-top’ banking service allows customers to open an account, make deposits, withdraw cash, apply for loans, make balance inquiries and do reversals, the bank said. […]
Sri Lankan tea exporters ask banks to shed lending fears
Aug 18, 2008 (LBO) – Sri Lankan tea exporters say banks should be less fearful in lending for shipments to key markets in the volatile Middle East and Russia and adopt new lending methods that use brands as collateral. Exporters say they are being restrained by high borrowing costs and a marked reluctance by banks […]
Sri Lankan troops capture rebel training base: govt
August 17, 2008 (AFP) – Sri Lankan troops captured a rebel training base in the war-torn north of the island, as fighting elsewhere killed at least 31 Tamil Tigers and nine soldiers, the defence ministry said Sunday. Troops on Saturday took control of the large rebel complex, which had at least 100 underground bunkers, military […]
Sri Lanka expert says solar energy too costly without subsidy
Aug 18, 2008 (LBO) – Solar energy is still too expensive to be used widely without government subsidies, a Sri Lankan expert has told the island’s energy-intensive industries which are grappling with the highest electricity costs in Asia.Tilak Siyambalapitiya, managing director, Resource Management Associate, said solar energy cost 60 rupees per kilowatt hour whereas now […]
Sri Lanka Unilever unit marketing models push deodorant sales
Aug 18, 2008 (LBO) – Consumer goods manufacturer Unilever Sri Lanka’s unconventional sales campaign for AXE men’s deodorant has already increased sales by 25 percent, the company said. Unilever hopes to enlarge its AXE footprint in Sri Lanka by distributing products to smaller shops and groceries. The deodorants come in two sizes and sales depend […]
Sri Lanka fighting to displace more people: UN
August 18, 2008 (AFP) – Thousands of people have been forced to flee their homes in northern Sri Lanka, joining thousands of others displaced by a government push into Tamil rebel-held territory, the UN said Monday.The United Nation’s Inter-Agency Standing Committee said they expected more people to flee the ongoing fighting, with security forces attempting […]
‘s Musharraf announces resignation
ISLAMABAD, August 18, 2008 (AFP) – Pakistani President Pervez Musharraf announced in a televised address to the nation Monday that he had decided to resign after nine years in power to avoid the threat of impeachment.The former army chief, who seized power in a bloodless coup in 1999, was under huge pressure from the governing […]
Southern African countries launch free trade zone
JOHANNESBURG, August 17, 2008 (AFP) – Southern African countries launched a regional trade zone at a summit on Sunday that aims to eliminate import tariffs, with plans for a common currency by 2018. Eleven of the 14 countries that are part of the Southern African Development Community (SADC) will participate in the free trade area, […]
‘s Mendis an unusual spinner, says Dhoni
DAMBULLA, August 18, 2008 (AFP) – India one-day captain Mahendra Singh Dhoni on Monday conceded it was not easy to read Sri Lanka’s unorthodox spinner Ajantha Mendis. “When you are playing Mendis, you have to save wickets and get runs as well. It gets a bit tough. Even Murali (Muttiah Muralitharan) was difficult some time […]
Sri Lanka crush spineless India
DAMBULLA, August 18, 2008 (AFP) – Mahela Jayawardene cracked a responsible half-century to guide Sri Lanka to a crushing eight-wicket victory over India in the first one-day international here on Monday.The Sri Lankan skipper scored an unbeaten 61 for his 47th half-century to help his team achieve a modest 147-run target with more than 15 […]