Category: Other
Worker Relations
September 02, 2007 (LBO) – Sri Lanka’s employers and labour unions have set up a dispute settlement mechanism funded by the International Labour Organisation (ILO) with the aim of improving industrial relations. The Association for Dialogue and Conflict Resolution (ADCOR) is tasked with resolving employment related conflicts, making representations to authorities and conducting regular dialogue […]
Exposure Draft
September 01, 2007 (LBO) – Sri Lanka’s central bank, which regulates the country’s financial system, has sought the views of the banking community on new draft corporate governance rules for banks. “The need for a mandatory code of corporate governance arises due to the significance of the business of banks in the economy and current […]
Maldives tourist paradise flourishes at 35
KURUMATHI ISLANDS, Maldives(AFP) – Sabrina Chang decided this year to treat herself to a fancy vacation, opting to stay in a thatched bungalow over a lagoon in the Maldives where a swim with exotic fish is as common as taking a stroll. The Maldives is celebrating the 35th anniversary since its first two resorts opened […]
Sri Lanka smallholder tea factory capacity outgstrips leaf
August 31, 2007 (LBO) – Sri Lanka’s tea industry in the southern part of the region where low grown teas are cultivated mainly by smallholders have too many factories chasing the available leaf supply, a top industry official said. Smallholders, who now produce more than half the island’s tea crop, have grown rapidly in the […]
Factory worker to tax chief to finance minister of economic powerhouse
BEIJING, Aug 30, 2007 (AFP) – Starting off as a machine factory worker, Xie Xuren worked his way up through the ranks of China’s ruling Communist Party to on Thursday become the nation’s finance minister.According to the official biography, Xie also boasts engineering credentials from when he served as a worker, technician, machinist and deputy […]
Dollar rangebound ahead of speech by US central bank chief
TOKYO, Aug 31, 2007 (AFP) – The dollar was rangebound in cautious Asian trade Friday as investors waited for a speech by the US central bank chief after recent volatility over the housing sector, dealers said.The dollar inched up to 115.99 yen in Tokyo morning trade from 115.86 in New York late Thursday. The euro […]
” talk
NEW YORK, Aug 30, 2007 (AFP) – Specialized blogs are abuzz this week with rumors that Internet giant Google will soon launch the “Google Phone” or “GPhone,” a cheap mobile phone equipped with Google’s operating system. Several hackers have recently boasted of having found the way to “unblock” the iPhone and make it work with […]
Zimbabwe orders wage freeze to combat 7,600% inflation
HARARE, Aug 31, 2007 (AFP) – Zimbabwe President Robert Mugabe has banned all pay rises without authorisation and given himself extra powers in a new bid to curb the world’s highest inflation rate, state media said Friday. As part of the measures, all rents, school fees and service charges must be frozen for the next […]
Sri Lanka tea growers want to slash acreage, boost yields
August 30, 2007 (LBO) – Sri Lanka’s tea industry should slash the vast acreages under cultivation by half and improve yields as it was becoming unaffordable to run huge plantations, a top tea plantations company official said Thursday. “No longer can we have huge plantations,” said Dan Seevaratnam, Executive Deputy Chairman of the listed Kahawatte […]
Venezuela to kick out Exxon, Conoco Phillips
CARACAS, Aug 30, 2007 (AFP) – The Venezuelan government wants two US oil giants that refuse to come under state control to leave and is not offering compensation, Energy Minister Rafael Ramirez said.There is an estimated 230 billion barrels of oil in Venezuela’s Orinoco field but 78 billion are proved.Exxon Mobil and Conoco Phillips have […]
Asian stocks make cautious rebound with eyes on Fed
TOKYO, Aug 30, 2007 (AFP) – Asian stock markets made a cautious rebound Thursday as investors kept an eye on US Federal Reserve moves to combat housing woes that have battered global bourses. Asian markets were in positive territory after a strong recovery on Wall Street overnight but early gains were pared in Tokyo and […]
Maldives invites bids to build luxury hotel in capital
Aug 30, 2007 (AFP) – The Maldives has invited international investors to bid for the right to construct the tropical nation’s first luxury hotel on the island capital Male, officials said Thursday.Holidaymakers have made Maldives the richest nation in South Asia, with a per capita income of 2,674 dollars.Tourism and fishing account for a large […]