Category: Other
Biofuels, food crops straining world water reserves: experts
STOCKHOLM, August 24, 2008 (AFP) – Burgeoning demand for food to feed the world’s swelling population, coupled with increased use of biomass as fuel is putting a serious strain on global water reserves, experts said To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to 678 “If we […]
‘s Kingfisher Airlines goes international with London route
NEW DELHI, August 23, 2008 (AFP) – India’s Kingfisher Airlines has announced it will launch its first international flight from the high-tech southern city of Bangalore to London next month. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to 678 The daily non-stop Airbus A330-220 service to […]
Offshore Firms
Aug 22, 2008 (LBO) – Sri Lanka is developing a new policy and rules for setting up offices of foreign companies in the island, with plans to increase a minimum deposit requirement, an official said.A higher deposit requirement – which is still to be decided – will only apply to new companies, the official said. […]
Oil prices plunge to US$114 after dollar firms
NEW YORK, August 22, 2008 (AFP) – Oil prices shed more than six dollars a barrel Friday after the dollar firmed and as the world’s second-largest pipeline appeared set to reopen. New York’s main contract, light sweet crude for October, fell 6.59 to close at 114.59 dollars a barrel. The benchmark futures contract was 82 […]
British economic data shows slow growth as inflation spikes
LONDON, August 22, 2008 (AFP) – Britain’s economy stopped growing in the second quarter of 2008, recording the weakest quarterly growth rate for 16 years and leaving the country on the brink of recession, analysts said Friday. To recieve instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to 678 […]
Low cost Internet phone revolution beckons for India
NEW DELHI, August 23, 2008 (AFP) – Battle lines are being drawn after India’s telecoms regulator called for full-blown telephone services via the Internet, paving the way for another fall in the nation’s already cheap call rates. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to 678 […]
Sri Lanka tea crop hits new high
Aug 22, 2008 (LBO) – Sri Lanka’s tea production is continuing to increase with the July crop hitting a new high, with low grown teas much in demand in the Middle East and Russia, rising sharply, brokers said.The output for the seven month period was also a new high with the previous record being 190.7 […]
Oil prices spikes to US$120 amid geopolitical tension
NEW YORK, August 21, 2008 (AFP) – Oil prices rocketed higher Thursday as traders tracked geopolitical tensions between the United States and Russia, a weak dollar and a large drop in US motor fuel reserves. New York’s main oil futures contract, light sweet crude for delivery in October, soared more than six dollars to 122.04 […]
‘s iPhone to launch in India on Friday
NEW DELHI, August 22, 2008 (AFP) – Apple’s iconic iPhone was slated to make its debut Friday in India, home to the world’s fastest-growing mobile market, officials said. The 3G or third generation phone will sell for more than triple its US price tag in India, which has emerged as a key battleground for makers […]
Sri Lanka expects firm tea prices despite commodity bubble burst
Aug 21, 2008 (LBO) – Sri Lankan tea exporters are expecting prices to remain high owing to good quality leaf, savvy marketing and packaging, though the US dollar is strengthening and a global commodity bubble may have burst.Romesh Moraes of the Tea Exporters Association said the trade aims to maintain its price advantage over its […]
‘s Qantas reports record profit
SYDNEY, August 21, 2008 (AFP) – Australia’s national airline Qantas Thursday reported a 44 percent increase in annual net profit to a record 969 million dollars (842.6 million US dollars). Revenue for the year ended June 30 rose 7.5 percent to 16.19 billion dollars after Qantas carried 38.6 million passengers, up 6.0 percent, the company […]
Oil prices above US$114 traders mull lower gasoline stocks
NEW YORK, August 20, 2008 (AFP) – Oil prices rose on Wednesday after a sharp spike the previous day as traders nervously mulled a larger-than-expected decline in US gasoline stocks. Prices closed higher in edgy trade, wiping out declines experienced earlier in the day, as traders assessed a weekly US inventory report for clues on […]