Category: Other
Excess cash, peg to weak dollar fuel Gulf inflation
MANAMA, March 23, 2008 (AFP) – Abundant liquidity, triggered by sharply higher oil revenues, and the effect of currencies pegged to a weakening dollar are fueling inflation in the Gulf region, economists say. And the situation is so serious that Gulf business leaders will meet in Bahrain on Monday to get advice from the International […]
‘s Warnapura but Windies fightback
PROVIDENCE, Guyana, March 22, 2008 (AFP) – Three wickets in the final period, including the scalp of Malinda Warnapura for a maiden Test hundred of 120, wobbled Sri Lanka after their batsmen revelled in the opening Test against West Indies on Saturday. Left-hander Warnapura, opening the batting, maximised ideal conditions to give Sri Lanka a […]
Asian giants seen keeping US trove despite dollar plunge
TOKYO, March 23, 2008 (AFP) – With the dollar plunging and the Federal Reserve slashing interest rates, markets are on alert for any signs that foreign investors, particularly in Asia, are buying fewer US assets.But while some private investors may be heading for the exit, analysts say the authorities in Japan and China look set […]
US, Russia, China in fierce battle to sell fighter jets in Asia
WASHINGTON, March 23, 2008 (AFP) – The United States is bracing for tough competition from Russia and China as cash-flush Asian economies look up to the trio for a new breed of fighter jets to beef up their air forces, experts say. Japan, India, Australia and South Korea are keen to have the most modern, […]
Censorship
Mar 23, 2008 (LBO) – Books written by academics based in Sri Lanka which were printed abroad had been seized by the island’s customs authorities, in a move which could be a new form of censorship, a media report said. The Sunday Times newspaper said a book by economic researcher Mutukrisna Sarvanandan, from the Point […]
Sri Lanka should liberalize edible oil imports: coconut exporters
Mar 23, 2008 (LBO) – Sri Lanka’s exporters of value added coconut products are asking to authorities to free edible oil imports, so that profits from oil milling would fall, freeing more nuts for other industries. Sri Lanka’s coconut milk powder, coconut cream and desiccated coconut producers have been found their cost of production increasing […]
Bear Stearns staff auction off teddies, T-shirts, memorabilia
WASHINGTON, March 21, 2008 (AFP) – Bear Stearns’ go-getting investment bankers used to chase million-dollar deals, but staff at the now hard up Wall Street bank have resorted to auctioning off Bear Stearns-branded memorabilia to raise funds.Bear Stearns workers have put a range of mementos up for sale online at eBay in recent days following […]
Sci-fi visionary Arthur C. Clarke buried in Sri Lanka
March 22, 2008 (AFP) – Sri Lanka on Saturday buried visionary British sci-fi writer Arthur C.Clarke amid tears and tributes from family and fans as the government ordered a minute’s silence across the island.The 90-year-old author, who died at the age of 90 on Wednesday following a brief illness, was buried in a plot owned […]
Expert warns of unrest as rice price soars
LOS BANOS, Philippines, March 21, 2008 (AFP) – As the price of rice hovers near record levels, many poor countries face the spectre of riots by hungry people, according to one of the world’s leading rice experts.Key producers India and Vietnam have both curtailed exports, sending some of the world’s largest rice importers including the […]
US strikes investment accords with Abu Dhabi, Singapore funds
WASHINGTON, March 20, 2008 (AFP) – The US Treasury said Thursday it had reached a series of agreements with two powerful sovereign wealth funds based in Abu Dhabi and Singapore covering investments in US markets. The agreements were hammered out in a meeting at the US Treasury hosted by Treasury Secretary Henry Paulson and come […]
Landmark US auction marks end of analogue TV; Google wins open spectrum
SAN FRANCISCO, March 20, 2008 (AFP) – US telecom giants Verizon Wireless and AT&T on Thursday took home the big prizes in a record-setting US wireless spectrum auction while Google got the open access it eagerly craves. The 700 MHz band currently carries standard television broadcasts, and will be freed up when stations switch to […]
Sri Lanka paddy crop under water; quality drops and high prices likely
Mar 21, 2008 (LBO) – Torrential rains lashing Sri Lanka during an ongoing crucial harvest season is likely to lower the quality of rice but keep prices high in the domestic market, an official said. “In some districts around 50 percent of the crop has been harvested and the remaining 50 percent has to be […]