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Oil slumps in New York, perks in Asia
SINGAPORE, June 11, 2008 (AFP) – Oil prices rose again in Asia on Wednesday as the world’s biggest oil producers and consumers prepared to meet to discuss record crude prices which have sparked fears for the global economy. New York’s main oil futures contract, light sweet crude for July delivery, was 61 cents higher at […]
‘s torch relay becomes a mystery
BEIJING, June 11, 2008 (AFP) – China’s Olympic torch relay has become a mystery tour, with organisers refusing on Wednesday to disclose the dates of a planned journey though Tibet and other potentially sensitive legs.The torch’s trip through Tibet and other regions of western China where recent deadly unrest by Tibetans occurred was originally scheduled […]
Sri Lanka focuses on education to combat child labour
June 11, 2008 (LBO) – Sri Lanka will mark the World Day Against Child Labour this year on June 12 Thursday with activities to raise awareness about this year’s theme that education is the right response to child labour, the International Labour Organisation said. The ILO has estimated that some 165 million children between the […]
Sri Lanka Hayleys group stake changes hands
June 10, 2008 (LBO) – A six percent stake in Sri Lanka’s Hayleys group owned by Carson and Cumberbatch controlled companies was bought by businessman Dhammika Perera on the Colombo stock exchange Tuesday, brokers said. The Ceylon Investments Company sold a stake in Hayleys amounting to 1,822,632 shares while Ceylon Guardian Investment Trust sold 2,164,358 […]
Debt Tool
June 10, 2008 (LBO) – The Sri Lanka Ports Authority (SLPA) plans to get a credit rating that will enable it to borrow abroad to fund harbour expansion projects and better manage debt repayments, its chairman Saliya Wickramasuriya said. “Our debt portfolio needs to be managed properly. We may need to do some debt swapping. […]
Tight Rates
June 10, 2008 (LBO) – Sri Lanka’s Lanka Orix Leasing Company (LOLC) group said net profits for the year ended March 2008 was up 21 percent with revenue growing 50 percent though rising interest costs trimmed profits at company level. Group net profits rose to 1.26 billion rupees from 1.04 billion, while gross revenues rose […]
Sri Lanka fighting kills another 20: military
June 10, 2008 (AFP) – Fighting across Sri Lanka’s embattled northern region left at least 18 Tamil Tigers and two soldiers dead, the defence ministry said Tuesday.Monday’s fighting in the regions of Mannar and Vavuniya also wounded 10 Tiger rebels and 18 government troopers, the ministry said. However, the Liberation Tigers of Tamil Eelam (LTTE) […]
Emirates to start first A380 services to Americas
June 10, 2008 (LBO) – Dubai-based Emirates is starting the first ever commercial Airbus A380 service to the Americas with a 14-hour non-stop flight to New York from August 01, the airline said. Air travellers will be able to experience Emirates Airline’s state-of-the-art A380 aircraft for the first time on 1st August, when the airline […]
Sri Lanka LOLC plans ethanol power plant
June 10, 2008 (LBO) – Sri Lanka’s LOLC group, which has taken over a defunct sugar firm in a public-private partnership, is planning to build an ethanol-based power plant, the company said. LOLC and Brown & Company inked deal with the government in 2007 to revive Gal Oya Plantations, a defunct state sugar firm that […]
Uganda benefiting from world food crisis: president
LONDON, June 10, 2008 (AFP) – Uganda is benefiting from the current hike in world food prices because it is a net producer of goods like bananas, its President Yoweri Museveni said here Tuesday.“We are very happy with the food crisis. Why? Because we produce a lot of food, and our problem has been the […]
‘s ex-king has hundreds of millions stashed away: author
KATHMANDU, June 10, 2008 (AFP) – Nepal’s ousted king is thought to have close to 200 million dollars stashed away inside the country and even more abroad, according to an author who has probed royal finances.Surya Thapa, a journalist who has written three books on the Himalayan royals, said ex-king Gyanendra is unlikely to feel […]
Oil prices slide again on roller coaster run
LONDON, June 9, 2008 (AFP) – Crude oil prices pulled back Monday from last week’s record highs as the dollar firmed against the euro and OPEC kingpin Saudi Arabia stressed its willingness to meet any increase in demand.New York’s main oil futures contract, light sweet crude for July delivery, slid 4.19 dollars a barrel to […]