Category: Industry
Oil For Poor
TEHRAN, Iran, Apr.19 (AFP) – Iran’s President Mahmoud Ahmadinejad has called on oil producers, in particular fellow OPEC members, to sell a part of their crude production to poor countries at “better prices”, the ISNA news agency reported Wednesday.“Oil producing countries, in particular OPEC members, could determine quotas for poor consumers with better prices,” the […]
New Platforms
Apr.19 (LBO) – Sri Lankan based software firm specializing in securities trading platforms says regulatory changes in the United States and Europe, is expanding the markets for their products. MillenniumIT which started with equities trading software, now offers fixed income securities trading with latest versions catering to commodity trading and futures contracts. In addition to […]
Historic Highs
LONDON, Apr.18 (AFP) – World oil prices hit record peaks on Tuesday above 72.0 dollars in London and close to 71.0 dollars in New York as the market fretted over possible military conflict between the United States and Iran.The price of New York’s light sweet crude hit a historic high of 70.88 dollars per barrel, […]
Get on and play, Gavaskar tells cricket burnouts
NEW DELHI, Apr. 18 (AFP) – Indian great Sunil Gavaskar scoffed Tuesday at suggestions excessive cricket was burning players out, saying the hard grind was part of the honour of representing one’s country. Gavaskar, who now heads the powerful cricket committee of the sport’s world governing body, said he was shocked at players complaining of […]
Agonizing Wait
Apr.18 (LBO) – Sri Lankan banks have asked for extra time to implement a tax on credit card transactions, as the new stamp duty law is riddled with ambiguities. A stamp duty of one percent or Rs10 for every Rs1,000 spent, has kicked in from April 4, throwing banks and credit card users off balance […]
Loco Rent
Apr.17 (LBO) – Sri Lanka’s Department of Railways is planning to rent locomotives from India, Transport Minister A H M Fowzie said Monday. We can rent a one for Rs100,000 a day and earn about Rs150,000 out of it,†Minister Fowzie told LBO. We are currently discussing with the Indian railway consultancy RITES, how this […]
Sri Lanka raises retail fuel prices from midnight
Apr.15 (LBO) – Sri Lanka hikes fuel prices by Rs.8.00 from midnight Saturday after a 10-month lag as world crude oil prices raced to US$ 70 per barrel.Petrol at the pump will cost Rs.88.00, diesel, Rs.58.00 and kerosene Rs.38.50, Ceylon Petroleum Corp. (CPC) Chairman Jaliya Medagama said. The Rs.8.00 across the board hike also covers […]
New Year Gift
Apr.15 (LBO) – Sri Lanka hikes fuel prices by Rs.8.00 from midnight Saturday after a 10-month lag as world crude oil prices raced to US$ 70 per barrel. Petrol at the pump will cost Rs.88.00, diesel, Rs.58.00 and kerosene Rs.38.50, Ceylon Petroleum Corp. (CPC) Chairman Jaliya Medagama said. The Rs.8.00 across the board hike also […]
Falling Short
WASHINGTON, Apr. 14 (AFP) – Rising fuel and materials prices and skilled labor shortages are expected to push reconstruction costs for the deadly December 2004 tsunami past 10 billion dollars, a US Congress report said Friday.“Although pledges of 13 billion dollars exceed initial damage estimates of 10 billion dollars, escalating costs may increase the amount […]
Tax Ceiling
Apr.12 (LBO) – Sri Lankan banks have asked the government to consider imposing a lower tax on credit card transactions, as the new stamp duty will discourage people from using the formal banking system, an official said. Starting April 4, the government is charging one percent or Rs10 for every Rs1000 spent on a credit […]
Returning Sense
Apr.11 (LBO) – Sri Lanka’s finance ministry says fuel subsidies are placing an unsustainable burden on the exchequer; in a move analysts expect to be a precursor to an upcoming round of retail fuel price hikes. “In 2005, the government had to spend Rs25 billion to sell fuel below cost,” a statement from the Ministry […]
After Test pain, Jayasuriya eyes World Cup glory
Apr.11 (AFP) – Sanath Jayasuriya may have experienced only pain and disappointment in his farewell Test, but he hopes the cricketing gods will smile on him at the World Cup next year.The former Sri Lankan captain says his retirement from Test cricket will help him focus on one-dayers and he will do his best to […]