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Sri Lanka human rights record criticised by foreign experts
April 22, 2008 (AFP) – A team of international legal experts Tuesday stepped up their criticism of Sri Lanka, noting that repeated calls to improve its record on the issue had fallen on deaf ears. The International Independent Group of Eminent Persons (IIGEP) said Colombo lacked the political will to investigate grave rights abuses. The […]
Sri Lanka relaxes rice price controls
April 22, 2008 (LBO) – Sri Lanka has lifted price controls on the rice wholesale trade, a top official said, ending a short-lived socialist experiment not seen in the country since the heavy money printing and control era of the 1970’s. Trade ministry secretary R M K Ratnayake said a decision had been made to […]
Sri Lanka trade deficit doubles, foreign reserves up
April 22, 2008 (LBO) – Sri Lanka’s trade deficit doubled in the first two months of the year to 937 million dollars but the overall balance of payments was in surplus by 448 million dollars, the central bank said. In February exports grew 9.7 percent to 642.6 million dollars with tea exports rising 42. 1 […]
Sri Lanka Telecom dominate Colombo share trading
April 21, 2008 (LBO) – Sri Lankan shares closed lower Monday but turnover soared to over 3.5 billion rupees on several crossings of Sri Lanka Telecom and trades in Hotel Services (Ceylon), which owns a city hotel, brokers said. The All Share Price Index fell 8.90 points (0.33 percent) to 2,662.93 while the more liquid […]
No Fixing
April 21, 2008 9LBO) A European Union directive to abolish shipping line ‘conferences’ or cartels by October should lead to more competition and enable shippers to get a better deal, Sri Lanka Shippers’ Council officials said. SLSC president Ananda Wijayasuriya said lines will in future not be able to fix prices but negotiate contracts of […]
Sri Lankan Airlines and Mihin to be jointly run: officials
April 21, 2008 (LBO) – Sri Lankan Airlines and Mihin Air would be commercially run together after new chief executives take-over but the two airlines would remain as separate entities, officials said. But the government has so far not given him permission to leave the airline, he said. G T Jayaseelan, SriLankan’s former head of […]
‘s territory: minister
SYDNEY, April 21, 2008 (AFP) – Australia’s territory has expanded by an area five times the size of France after the UN agreed to its jurisdiction over a massive amount of seabed, Resources Minister Martin Ferguson said Monday. The United Nations’ decision to extend the country’s borders south, west and east to include a further […]
Bank of England prints 50 billion pounds against housing paper
LONDON, April 21, 2008 (AFP) – The Bank of England announced a 50-billion-pound plan on Monday to free up Britain’s home loan market in one of the biggest moves by a major central bank to combat the global credit crunch.The British central bank said it would allow high street banks to swap mortgage-backed securities for […]
UBS explains huge subprime losses
ZURICH, April 21, 2008 (AFP) – Switzerland’s biggest bank UBS said Monday that weak risk control and a pay structure that invited risky deals were among key factors leading to its massive subprime-related losses.A 50-page report to shareholders, a summary of a document the bank submitted earlier to the Federal Banking Commission, set out the […]
Singapore says there is enough rice, not to worry
SINGAPORE, April 21, 2008 (AFP) – The rice supply in Singapore — which imports virtually all its food — is not affected by export limits imposed by some producers to ease soaring prices, the government said Monday. Orders placed by the city-state’s rice importers are being met, Senior Minister of State for Trade and Industry, […]
Sportswear workers face gruelling conditions, long hours: report
BRUSSELS, April 21, 2008 (AFP) – Sportswear workers’ rights are being trampled asunder with unpaid overtime and gruelling conditions rife as the industry gears up for the Olympic Games in Beijing, according to a report. Researchers for the Play Fair 2008 campaign found that the conditions for sportswear equipment makers had hardly improved since the […]
‘s police to guard torch: official
SYDNEY, April 21, 2008 (AFP) – More than half the police force in Australia’s capital Canberra will guard the Olympic torch when the troubled relay arrives in the city this week, officials said Monday.Security has been beefed up for Thursday’s run, which is expected to attract hundreds of pro-Tibet demonstrators angry at China’s treatment of […]