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Sri Lanka has no alternative but to print money: minister
Dec 17, 2007 (LBO) – Sri Lanka has no alternative but to print money because the government cannot move into a framework of limiting expenditure, a senior minister has said. Speaking to the British Broadcasting Service’s Sinhala language Sandeshaya program, consumer affairs minister Bandula Gunewardene said it had become necessary to print money because the […]
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Dec 16, 2007 (LBO) – Sri Lanka plans to have new laws and make better use of information technology to crackdown on human trafficking and illegal worker migrants, some of whom are under-aged, officials said. Poverty and inadequate laws and co-ordination among government agencies are the reasons large numbers of migrant workers use illegal methods […]
US heading to recession, Morgan Stanley Asia chairman says
SYDNEY, Dec 16, 2007 (AFP) – The US is heading for a recession and the rest of the world would be “dead wrong” to think this will not impact on growing Asian economies, Morgan Stanley senior executive Stephen Roach said Sunday.In an interview with Sky News in Australia, Roach said the US Federal Reserve Bank […]
Cyber dis-intermediation hits banking
SAN FRANCISCO, Dec 15, 2007 (AFP) – The Internet is directly connecting investors and borrowers, letting them take banks out of the lending equation and put their money where their hearts and dreams are. People have lent each other more than 100 million dollars through Prosper.com since it launched in February of 2006 and the […]
Toyota to expand output to near 10 million units in 2008: report
TOKYO, Dec 16, 2007 (AFP) – Japanese car giant Toyota Motor Corp. plans to raise its global output to near 10 million units next year, out-distancing its rival General Motors Corp. of the United States, a news report said Sunday. While Toyota is expanding its overseas production facilities, GM has been laying off workers and […]
Cricket returns to Sri Lanka tsunami-hit stadium
GALLE, Sri Lanka, Dec 16, 2007 (AFP) – England and Sri Lanka will mark one of cricket’s most poignant moments when they contest the third Test at the previously tsunami-ravaged Galle International Stadium from Tuesday. The stadium, situated close to the Indian Ocean in the country’s coastal south, was destroyed by the Asian tsunami in […]
Sri Lanka Tiger supremo wounded in air attack: report
Dec 16, 2007 (AFP) – Sri Lanka’s elusive Tamil rebel supremo was wounded in an air strike last month by security forces shortly after his annual policy broadcast, a privately-run newspaper here reported Sunday.The Nation newspaper said Velupillai Prabhakaran, leader of the Liberation Tigers of Tamil Eelam (LTTE), was wounded in an underground bunker in […]
Sri Lanka talks with Russia, India on arms buys
Dec 16, 2007 (AFP) – Sri Lanka will meet with Indian and Russian delegations this week on possible arms purchases including air defence weaponry as clashes with Tamil Tiger rebels escalate, press reports here said Sunday. Defence officials from India and Russia will hold separate talks with Sri Lankan authorities on improving systems used against […]
US inflation 4.3-pct amidst fresh money printing; can it continue?
NEW YORK, Dec 14, 2007 (AFP) – The dollar rose sharply Friday as a larger-than-expected spike in US inflation suggested the US Federal Reserve may not find it so easy to continue cutting interest rates. Dealers said the latest figures showed that the Fed, like many central banks, was now caught between keeping rates high […]
Human rights violations increase in high inflation Zimbabwe: Amnesty
JOHANNESBURG, Dec 14, 2007 (AFP) – Violence and torture by Zimbabwe’s police against rights activists and opposition members are on the increase despite ongoing mediation efforts, Amnesty International said on Friday. “Organised police violence and torture has continued during the SADC mediation — in fact, the severity of beatings and torture has been increasing,” said […]
Sri Lanka eye cricket second spot behind Australia
GALLE, Sri Lanka, Dec 15, 2007 (AFP) – Mahela Jayawardene’s Sri Lanka will leapfrog from world number five to second behind Australia if they win the third and final Test against England starting here on Tuesday. A win would give the hosts a 2-0 series success and lift Jayawardene’s men past India, South Africa and […]
Sri Lankan Tamil Tiger arms dealer jailed in U.S.
Dec 15, 2007 (LBO) – A United States federal court has jailed an Indonesian arms dealer who sought weapons for Sri Lanka’s Tamil Tigers, U.S. media reports said Saturday. Haniffa Bin Osmana, described as a representative for the Tamil Tigers was convicted of arms dealing in federal court in Baltimore. He had wanted grenade launchers […]