Category: Industry
Chess Game
Apr.24 (LBO) – Sri Lanka plans to ask for more shipments of clothes, edible oils and fewer limits on country of rules origins on exports of key items to India, when both nations meet for trade talks tomorrow, officials said. Four days of trade talks between the two nations under the Comprehensive Economic Partnership Agreement […]
Loosing Grip
PARIS, Apr.24 (AFP) – From cars to planes, chemical plants to retail, every sector in the world economy is having to adapt to the prospect that high oil prices are going to last.Most oil firms are transferring the price hike to their clients, noting that high oil revenues stimulate research and development. CARS: Although driving […]
Jackpot
PARIS, Apr.24 (AFP) – While governments and consumers weep over the rise and rise of fuel prices, oil companies are rubbing their hands in glee. Last year the world’s 250 top oil companies earned profits totalling 243 billion euros (300 billion dollars), a 35-percent increase on 2004, and that in spite of hurricanes in the […]
Easing Up
SINGAPORE, April 21, 2006 (AFP) – Oil prices were lower in Asian trade Friday on profit-taking after recent sustained gains to record highs amid concerns over tight US gasoline (petrol) supplies and tensions over Iran’s nuclear ambitions, dealers said. At 11:15 am (0315 GMT), the June New York light sweet crude contract was at 72.96 […]
Wider Berth
DHAKA, April 21, 2006 (AFP) – South Asian nations have agreed to include services in the South Asian Free Trade Agreement (SAFTA) in a bid to boost regional economic integration, a report said Friday.The decision came at a meeting of South Asian trade ministers in Dhaka that ended Thursday on the free trade pact which […]
Chinese Flyovers
Apr.21 (LBO) – China Friday agreed to give a billion rupee grant to build three flyover roads in Sri Lanka, the Finance Ministry said. – LBO Newsdesk “The three infrastructure projects will help reduce the traffic congestion on the highly congested interchanges at Nugegoda and Welikada and also the road section from Kadawatha to Kiribathgoda,” […]
High Octane
LONDON, April 20, 2006 (AFP) – World oil prices reached new historic peaks on Thursday, above 74.0 dollars in London and 72.0 dollars in New York, owing to mounting tensions over Iran’s nuclear programme and fears of gasoline shortages in the United States. In London, the price of Brent North Sea crude for June delivery […]
Heavy Cross
MADRID, Apr. 20 (AFP) – Consumers should carry the burden of higher oil prices, International Monetary Fund (IMF) chief Rodrigo Rato said in an interview published Thursday by the Spanish daily El Pais. Rato said it would be necessary to “pass on new energy prices to consumers”, and added: “There is a very clear message, […]
Breaking Barriers
DHAKA, Apr.20 (AFP) – The trade ministers of seven South Asian nations said Thursday they had “fruitful” discussions on barriers still impeding a planned regional free trade area.Fruitful discussions were held in a very cordial atmosphere; the implementation of the SAFTA (South Asian Free Trade Agreement) is now our prime task,” Bangladesh Trade Minister Altaf […]
‘s hospitality industry shows record growth in March
Apr. 20 (LBO) – Sri Lanka’s leisure industry greeted record 54,746 visitors in March, as key western countries warned nationals to avoid traveling to the north east of the country as violence intensified in the region. The tsunami-hit island welcomed 54,746 visitors (up 8.6 percent over 2005) in March, which helped swell arrivals for the […]
Quit Notice
Apr.20 (LBO) – Sri Lanka’s State Banks & Development Minister Wijedasa Rajapakse Thursday resigned his ministry ending a short stint which was surrounded by rumbles of discontent. “I resigned over personal reasons,” Rajapakse told LBO. Rajapakse, who is a President’s Counsel, also resigned as organizer for the Maharagama electorate of the Sri Lanka Freedom Party […]
Sri Lanka’s hospitality industry shows record growth in March
Apr. 20 (LBO) – Sri Lanka’s leisure industry greeted record 54,746 visitors in March, as key western countries warned nationals to avoid traveling to the north east of the country as violence intensified in the region. The tsunami-hit island welcomed 54,746 visitors (up 8.6 percent over 2005) in March, which helped swell arrivals for the […]