Category:
European markets stumble on opening
LONDON, Aug 10, 2007 (AFP) – Europe’s main stock markets slumped further in early trading on Friday, pulled down by global jitters over loans tied to the US housing market.About 75 minutes after the start of dealing, London’s FTSE 100 of leading shares stood at 6,155.50 points, down 1.84 percent from Thursday’s close. In Frankfurt […]
Worrisome signs for global rice crop
MANILA, Aug 10, 2007 (AFP) – The world’s top rice expert warned here Friday of “worrisome signs,” with high prices for rice and fertiliser and stocks at their lowest levels for about 30 years.Robert Zeigler, director general of the International Rice Research Institute (IRRI), said new farm technologies were needed to replicate the gains made […]
‘s rebel league
COLOMBO, Aug 10, 2007 (AFP) – Sri Lankan cricket’s governing body on Friday threatened to ban any national player who took part in the breakaway multi-million dollar Indian Cricket League. Ex-Australian stars Shane Warne and Glenn McGrath have dismissed claims by the ICL that they have already signed up but the duo continue to be […]
Sri Lankan and other scouts missing in Britain: police
LONDON, Aug 9, 2007 (AFP) – Thirteen scouts who came to Britain for the 100th annivesary of the international youth movement have disappeared, police said Thursday.“Since the start of the Jamboree, we’ve had 13 people reported missing,” an Essex Police spokesman said, referring to the centenary celebrations of scouting that took place in Chelmsford, east […]
Skills Boost
August 9, 2007 (LBO) – The United States has completed a program with a Sri Lanka state training institute to improve public sector finance skills of government officers, the US embassy in Colombo said. “U.S. Treasury focused on these objectives because of an urgent need to train young professionals in government service,” the embassy said […]
Maritime Fraud
August 09, 2007 (LBO) – Trade finance involving shipment of goods by sea could lend itself to money laundering, a top international maritime fraud investigator has warned Sri Lanka’s shipping community. Companies involved in the transport of goods by sea and related business like banks should take more care in their transactions and know better […]
Banking Gains
August 08, 2007 (LBO) – Sri Lanka’s Hatton National Bank (HNB) group has reported a 35 percent increase in net profit to 682 million rupees for the second quarter ended June 2007 with provision for bad loans also increasing. The HNB group revenues were up 41 percent to 7.78 billion rupees, the bank said in […]
Loss Leaders
August 08, 2007 (LBO) – Sri Lanka’s Cargills Food City supermarket chain has announced a month of discounts on a range of consumer goods, including milk powder which has risen sharply in recent days. “What we do is that we compromise our margins to give the best deals for our customers. The company said it […]
Tele Rating
August 9, 2007 (LBO) – Standard and Poor’s (S&P) has upgraded the outlook on Sri Lanka Telecom (SLT) from negative to stable while affirming its ‘B+’ foreign currency and ‘BB-‘ local currency rating. “The rating on SLT continues to reflect the long-term rating on the sovereign given its government ownership and its exposure to domestic […]
South Korea raises interest rates for second month
SEOUL, Aug 9, 2007 (AFP) – South Korea Thursday raised its key interest rate for the second time in as many months in an attempt to soak up liquidity and keep inflation in check. But he added that “problems could arise if the BOK is forced to further increase interest rates in the future.” The […]
Soldier arrested at UK military academy over sex assault
LONDON, Aug 9, 2007 (AFP) – A soldier was arrested at the elite Sandhurst British military academy on suspicion of sexual assault, a Ministry of Defence spokeswoman said on Thursday.“The MOD can confirm that a soldier at Sandhurst has been arrested by the police on suspicion of sexual assault,” the spokeswoman, speaking on customary condition […]
Dollar falls as China threatens to unload US assets
NEW YORK, Aug 8, 2007 (AFP) – The dollar weakened against the euro and other world currencies Wednesday after a British newspaper report claimed China’s government may “liquidate” its large holdings of US assets if Washington imposes threatened trade sanctions on Beijing. The dollar did gain against the Japanese yen, however, rising to 119.72 compared […]