Category: Other
Fighting inflation best way to deal with financial crisis: ECB chief
FRANKFURT, September 5, 2008 (AFP) – A monetary policy based on fighting inflation is the European Central Bank’s best weapon against volatile commodity prices and the ongoing financial crisis, ECB president Jean-Claude Trichet said on Friday.“We are committed to deliver price stability and will do what’s necessary to deliver price stability,” Trichet told a conference […]
Sri Lanka gripped by heavy battles
September 5, 2008 (AFP) – Government forces and Tamil Tiger separatists fought heavy battles in northern Sri Lanka with another 34 combatants killed in fresh clashes, the defence ministry said Friday. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Troops encountered stiff resistance from the rebel Liberation […]
Sri Lanka tea export earnings hit new high
Sept 05, 2008 (LBO) – Sri Lankan tea export earnings hit a new high up to July this year with strong demand continuing from the oil exporting regions of the Middle East and Russia, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Brokers Asia Siyaka […]
Oil prices at US$108 after US inventory data
LONDON, September 4, 2008 (AFP) – Oil prices fell on Thursday as the market digested the latest weekly snapshot of US energy stockpiles which recorded a bigger than-expected drop. New York’s main contract, light sweet crude for delivery in October, slipped 50 cents to 108.85 dollars a barrel. Brent North Sea crude for October dropped […]
No Bail
September 5, 2008 (AFP) – Sri Lanka’s Chief Justice Sarath Silva Friday refused bail for a Buddhist monk and slammed fellow clergymen for not showing respect to the judiciary.The monk was earlier this week remanded until September 15 when he will answer charges of using loud hailers after 10:00 pm in violation of new sound […]
End of bubble sees commodity prices tumble: analysts
PARIS, September 5, 2008 (AFP) – Sharp falls in commodity prices and a rise in the dollar mark the ending of one of the biggest ever speculative bubbles and a change in investor sentiment as the global economy slows, analysts say. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send […]
Oil prices at US$109 a barrel
LONDON, September 3, 2008 (AFP) – Oil prices closed modestly lower Wednesday as the market focused on demand amid a slowing global economy and signs that OPEC is under pressure to cut supply.New York’s main contract, light sweet crude for delivery in October, slipped 36 cents to close at 109.35 dollars a barrel after sliding […]
Euro, pound in trough in Asia ahead of rate decisions
TOKYO, September 4, 2008 (AFP) – The euro and pound languished in Asian trade Thursday but were off lows against the dollar ahead of central bank decisions in Europe, where economies are looking increasingly shaky, dealers said. The euro edged up to 1.4506 dollars in Tokyo morning trade after slipping to a seven-month low of […]
Oil riches propel Abu Dhabi onto world map
DUBAI, September 4, 2008 (AFP) – Oil-rich Abu Dhabi, which this week boasted of taking over English football club Manchester City, is pumping billions of petrodollars into investments ranging from fine art to films to Formula One.Riding on windfalls from record high oil prices, the wealthiest of the United Arab Emirates’ seven members is starting […]
‘s inflation slows for second successive week
NEW DELHI, September 4, 2008 (AFP) – India’s inflation slowed for a second week in a row but remained far above the central bank’s tolerance level, data on Thursday showed.Annual inflation slipped to 12.34 percent for the week ended August 23 from 12.40 percent a week earlier, according to the Wholesale Price Index, India’s most-watched […]
‘s prime minister escapes assassination attempt: official
ISLAMABAD, September 3, 2008 (AFP) – Pakistani Prime Minister Yousuf Raza Gilani escaped an assassination attempt after shots were fired at his vehicle Wednesday, his spokesman said. “By the grace of Allah the prime minister is safe,” Bashir said. “There was firing near the motorcade of the prime minister. Two bullets hit the window glass […]
‘s Tata says seeks new sites for cheap car plant
NEW DELHI, September 3, 2008 (AFP) – India’s giant Tata Motors sought new sites Wednesday to make the world’s cheapest car after suspending work on its plant in eastern India in the face of huge farmer and political protests. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 […]