Category:
Japanese shares up 0.48 percent by lunch
TOKYO, Aug 13, 2007 (AFP) – Japanese share prices rose 0.48 percent in morning trade Monday after Wall Street staged a late recovery Friday, although investors remained nervous about US mortgage problems, dealers said. Mizuho Financial Group fell 1,000 yen or 0.1 percent to 706,000, but Shinsei Bank rose five yen or 1.3 percent to […]
World growing despite subprime crisis says Aussie CB after raising inflation forecast
SYDNEY, Aug 13, 2007 (AFP) – Australia’s central bank Monday said it saw global growth as strong despite the uncertainty created by the crisis in the US home loan market. The Reserve Bank of Australia (RBA) said rising delinquency rates in the US sub-prime housing market had resulted in a marked increase in volatility in […]
Bank of Japan to print 600 bln yen into banking system
TOKYO, Aug 13, 2007 (AFP) – Japan’s central bank announced Monday it will inject 600 billion yen (5.0 billion dollars) into the banking system to avert liquidity shortages after recent turbulence on global financial markets. The Bank of Japan had already pumped one trillion yen into the money market on Friday as part of a […]
Maldives shrug off IMF red flag over Rufiyaa peg
August 13, 2007 (LBO) – The Maldives has shrugged off a red flag from the International Monetary Fund (IMF) that its currency peg with the US dollar was under threat from a record budget deficit and money printing. Sri Lanka’s external reserves have also been under pressure in recent months and the country is going […]
Sri Lanka underdeveloped regions deserve better – economist
August 13, 2007 (LBO) – A senior Sri Lankan economist has called for a higher allocation of resources for less developed regions of the island and special perks like higher pay for teachers serving those areas. Nimal Sanderatne, former senior visiting fellow at the Post Graduate Institute of Agriculture of the Peradeniya University, said one […]
Sri Lanka can wipe out poverty in a generation with practical policies: development economist
August 13, 2007 (LBO) – If market reforms and globalization that brought prosperity to Sri Lanka’s Western Province could be replicated countrywide, extreme poverty could be eliminated in a generation, a development economist said. Many economists had pointed out that Sri Lanka is held back by policy errors, despite being rich in human, natural resources […]
Sri Lanka living standards improving despite negative feelings: CB Governor
August 13, 2007 (LBO) – Despite perceptions of a lack of a ‘feel good’ factor steady gains are being made in living standards, Sri Lanka’s central bank governor Nivard Cabraal said. “Since there are perceptions and claims that people do not feel economic development. Let me also trace a few indications,” Cabraal told the members […]
Living Free
August 12, 2007 (LBO) – Sri Lanka’s government doctors have ordered more than two hundred luxury sports utility vehicles as a scheme to give duty-slashed vehicles to state workers gets under way. So far 1,200 applications for vehicles have been processed in a scheme to give 25,000 duty slashed vehicles to senior government workers, ETV’s […]
Sri Lanka Tourist Hotels Association elects Cooray as president
August 12, 2007 (LBO) – The Tourist Hotels Association of Sri Lanka has elected as its president Hiran Cooray of Jetwing Hotels, a tour operator with a chain of hotels that’s also promoting eco-tourism in a big way. Four vice presidents were also elected at the association’s annual general meeting representing different segments of the […]
Investors brace themselves for another roller coaster week
NEW YORK, Aug 12, 2007 (AFP) – Investors are girding for fresh stock turmoil in the coming week after riding a roller-coaster on world markets in recent days, amid fears that US home loan woes could trigger a credit crunch.“The biggest favor he (Bernanke) could do for himself and the markets is not to give […]
Fresh Sri Lanka violence kills 12
Aug 12, 2007 (AFP) – At 12 people have been killed in fresh violence across Sri Lanka’s northern and eastern regions where a bitter ethnic war has raged for decades, military and Tamil rebel sources said Sunday.The ethnic conflict has claimed more than 60,000 lives since 1972.Suspected Tamil Tiger rebels set off a powerful land […]
Rains, troop shortages prevent Sri Lanka push against rebels
Aug 12, 2007 (AFP) – Sri Lanka’s military has been unable to push into Tamil Tiger strongholds in the north due to the threat of monsoon rains and a lack of manpower, defence officials and analysts say.The rebels are fighting for an independent homeland for the island’s minority Tamils.More than 60,000 people have been killed […]