Category:
Bottom Dwellers
Feb 21, 2008 (LBO) – The market for high rise apartments in Sri Lanka has bottomed out and prices are unlikely to fall further, a group of property developers and construction contractors said. Economic analysts have pointed out that Sri Lanka’s recent rise in land and property was an asset price bubble fired loose monetary […]
Dollar weak, gold and oil hit new records amidst loose Fed policy
LONDON, Feb 21, 2008 (AFP) – The dollar dipped against leading currencies on Thursday as dealers worried about slowing economic growth in the United States, analysts said.In European trading, the euro rose to 1.4746 dollars, from 1.4712 dollars in New York late on Wednesday.Against the Japanese currency, the dollar eased to 108.05 yen from 108.13. […]
New York oil prices hit a record 101.27 dollars
NEW YORK, Feb 20, 2008 (AFP) – New York oil prices struck a record 101.27 dollars a barrel Wednesday on renewed global supply jitters.Oil prices have jumped in the past couple of days amid the supply concerns. The latest price spike burst a prior record peak for New York oil prices of 100.40 dollars struck […]
Dollar firms as high US inflation put question mark on new Fed printing
NEW YORK, Feb 20, 2008 (AFP) – The dollar firmed Wednesday after higher-than-expected US inflation data raised concerns the Federal Reserve will curb interest-rate easing aimed at boosting sluggish economic growth. Dealers said government figures showing US consumer inflation rising 0.4 percent in January, above forecasts for a 0.3 percent gain, was a cause for […]
‘s Jayawardene expects no respite from Aussies
MELBOURNE, Feb 21, 2008 (AFP) – Sri Lankan captain Mahela Jayawardene said Thursday he didn’t think Australia would be affected by recent off-field distractions when the two sides meet in their tri-series match on Friday.Sri Lanka must beat Australia to revive their tri-series finals hopes and the home side has had plenty to consider this […]
ICC panel recommends shorter World Cup
KUALA LUMPUR, Feb 20, 2008 (AFP) – The 2011 World Cup in South Asia should be shorter and with fewer teams, an International Cricket Council (ICC) panel recommended on Wednesday.The 10 chief executives were joined here by ICC chief executive Malcolm Speed, ICC president-elect David Morgan of England and India’s Sunil Gavaskar, who heads the […]
Sri Lanka fighting kills 95: military
Feb 21, 2008 (AFP) – At least 92 Tamil Tiger rebels and three government soldiers died in intense battles for a bunker line in northern Sri Lanka, the defence ministry said Thursday. Government forces destroyed five bunkers held by the Liberation Tigers of Tamil Eelam (LTTE) during fighting on Wednesday afternoon, a ministry statement said. […]
Sri Lanka bunker battle kills 15, says military
Feb 21, 2008 (AFP) – At least 13 Tamil Tiger rebels and two government soldiers were killed in an intense battle for a bunker line in northern Sri Lanka, the defence ministry said Thursday.Government forces destroyed five bunkers held by the Liberation Tigers of Tamil Eelam (LTTE) during fighting on Wednesday afternoon, the defence ministry […]
Sri Lanka ruling party strengthens parliamentary clout
Feb 21, 2008 (LBO) – Sri Lanka’s ruling party appointed a new member in place of a rebel member who died in a car crash, strengthening its clout in the legislature by one. Reggie Ranatunga, a provincial governor until his appointment, would represent the Gampaha district, north of Colombo. Updated/recast Ranatunga, the father of Sri […]
Exploration
Feb 21, 2008 (LBO) – Petroleum minister A H M Fowzie said Sri Lanka would have lost the confidence of global oil firms if it had postponed the bids for offshore exploration and was keen to ensure transparency in the bidding. The government had also appointed a cabinet appointed negotiating committee to negotiate with the […]
Sri Lanka central bank says policy tight, credit to govt. at record low
Feb 21, 2008 (LBO) – Sri Lanka’s money supply growth is slowing and credit to government was at a record low of 17 billion rupees, the Central Bank said in its monetary policy statement in January, promising tight policy ahead. The statement made no mention of policy rates, with the monetary authority no longer targeting […]
Sri Lanka tourist arrivals steady in January
Feb 20, 2008 (LBO) – Sri Lanka received 56,916 tourists in January, around the same level as last year with a sharp increase in visitors from Russia which the tourism promotion office has identified as a new target market. January numbers were boosted in both 2007 and 2008 by the arrival of a spiritual leader […]