Category: Other
India-Pakistan tensions to overshadow South Asia Summit
August 2, 2008 (AFP) – A summit of South Asian leaders was set to open in Sri Lanka on Saturday, with tensions between India and Pakistan likely to eclipse regional talks on trade, terrorism and poverty. Indian Prime Minister Manmohan Singh and Pakistan’s new premier Yousuf Raza Gilani were due to hold their first-ever talks […]
Sri Lanka leader calls for lower international phone tariffs in south Asia
Aug 02, 2008 (LBO) – Sri Lankan president Mahinda Rajapaksa called for lower international direct dial (IDD) tariffs to better integrate the people of south Asia when he opened a regional summit in Colombo Saturday.But the international regime was dismantled from 2003, though its remnants seems to be still alive within SAARC. Last month he […]
‘ summit highlights action against terrorism
Aug 02, 2008 (LBO) – South Asian leaders have called for tough action against terrorism at their summit in Colombo this weekend where they are to sign an accord on co-operation in criminal matters. Indian prime minister Manmohan Singh said terrorism continues to “rear its ugly head” in the region. “It remains the single biggest […]
‘t compromise on farmers
NEW DELHI, July 31, 2008 (AFP) – India said on Thursday it was willing to return to the negotiating table to work out a new global trade deal but warned it would not make any compromises that could hurt poor farmers.It also pinned the blame for the talks’ collapse earlier this week in Geneva squarely […]
Chavez nationalizes Bank of Venezuela
CARACAS, August 1, 2008 (AFP) – Leftist President Hugo Chavez on Thursday said he will nationalize the Bank of Venezuela, one of the country’s largest, and has asked the bank’s Spanish owners, Grupo Santander, for a meeting to set a price for the deal. “We’re going to nationalize Bank of Venezuela. I’m calling on (Grupo […]
WTO talks on sticking point continue at technical level: Lamy
GENEVA, August 1, 2008 (AFP) – Talks at a technical level are under way at the World Trade Organization on safeguard issues that ended marathon negotiations on a global trade deal this week, WTO head Pascal Lamy revealed on Friday.He told journalists it was necessary to overcome the safeguard technical issue that had caused the […]
India plans global 3G spectrum auction
NEW DELHI, August 1, 2008 (AFP) – India said Friday it plans a global auction for the airwaves needed to offer high-speed third generation or 3G mobile phone services, a move that could rake in billions of dollars for the government.The long-awaited decision will allow foreign players the chance to enter the world’s fastest-growing mobile […]
Sri Lanka tea export earnings up sharply in first half
Aug 01, 2008 (LBO) – Sri Lanka’s tea export earnings hit a new high in the first half of this year compared with the same period in previous years, tea brokers said. Stock brokers said the high prices enjoyed by tea exporters were likely to boost the profits of listed plantations companies, which have drawn […]
Sri Lanka starts small with bio-fuels
Aug 01, 2008 (LBO) – Sri Lankan renewable energy experts have started experimenting with bio-fuel production as an alternative to expensive fossil fuels but are constrained by lack of funds and land for commercial production.A pilot project on bio diesel initiated in Nikaweratiya in the north western province will soon be converted to a community […]
Shell profits gush on record high oil prices
LONDON, July 31, 2008 (AFP) – Anglo-Dutch energy giant Royal Dutch Shell said on Thursday that high oil prices helped push its net profit up by a third to 11.556 billion dollars (7.409 billion euros) in the second quarter. Profits rocketed despite flagging production which was hampered by violence at facilities in Nigeria. Output fell […]
Two decades on, South Asian grouping still to prove relevance
July 31, 2008 (AFP) – South Asian leaders are set for a weekend summit in Colombo where they are expected to repeat pious platitudes, highlighting that the 23-year-old regional grouping has little to show by way of economic progress. Observers compare summits to movie productions, but the script has changed little since the first SAARC […]
Wrecked WTO talks change the world trade game
GENEVA, July 30, 2008 (AFP) – Ministers saw a “new order” take hold of global trade Wednesday, with emerging economies calling the shots after WTO plans collapsed in a potentially devastating blow to millions of the world’s poor. “One thing that we can celebrate is that deals here are no longer made just by the […]