Category: Other
World stocks in meltdown over US economy fears
LONDON, Aug 1, 2007 (AFP) – European and Asian stock markets plummeted Wednesday, mirroring heavy losses the previous day in New York, on mounting fears that weakness in the US housing sector could infect the world economy.In London, Frankfurt and Paris the main share indices were down almost 2.0 percent nearing the half-way stage. The […]
Bad TRIP
August 01, 2007 (LBO) – Developing countries Sri Lanka must be provided policy space in areas like intellectual property and get a comparative advantage in world markets, academics say. “The trade rules, even though biased against developing countries, have still created a situation which developing countries with the right policies might be able to succeed […]
Sri Lanka needs more protectionist agricultural policies: agri economist
August 01, 2007 (LBO) – Sri Lanka needs a more protectionist trade policy to ensure vulnerable sections of society are protected from the negative effects of liberalization while enabling its advantages to be exploited, a top agricultural economist said. This was one of the main reasons for the repeated failure of Doha talks, Herath said. […]
Thailand inflation plunges near four-year low in July
BANGKOK, Aug 1, 2007 (AFP) – Thailand’s inflation rate hit a 43-month low of 1.7 percent in July, despite rising food prices, as consumption remained slow, the Commerce Ministry said Wednesday.It was the fifth consecutive rate cut this year and came amid government calls on the bank to tame the volatile baht after the currency […]
Saudi Clearance
July 31, 2007 (LBO) – The tribal leader of a victim’s family will only intervene on behalf of a teenaged housemaid on death row once clearance is given by the Saudi foreign ministry, Sri Lankan officials have been told. Rizana Nafeek who was 17 years old at the time of the incident has been convicted […]
News Corp. bid for Dow Jones on brink as deadline passes
NEW YORK, July 30, 2007 (AFP) – Rupert Murdoch’s News Corp. late Monday awaited a decision from the family that controls Dow Jones & Co. on its five-billion-dollar offer for the company and its crown asset, The Wall Street Journal. A reported deadline for members of the Bancroft family — which controls 64 percent of […]
Sri Lanka agribusiness firms reach out to farmers
July 31, 2007 (LBO) –Sri Lanka’s agribusiness companies have started a programme to get corporate executives to volunteer their services help farmers improve productivity, reduce waste and get better access to markets. The aim of the programme, launched under the aegis of the National Agribusiness Council (NAC), is to get member firms to provide two […]
Sri Lanka sugar firm reports losses
July 31, 2007 (LBO) – Pelwatte Sugar group has reported a loss of 75.6 million rupees for the June quarter while sales also fell 53 percent to 161 million rupees, the firm’s results released to the Stock Exchange showed. Last year it reported 341 million rupees in sales and 109 million in profits. International sugar […]
India tightens monetary policy further with inflation 4.41% in mid-July
MUMBAI, July 31, 2007 (AFP) – The Reserve Bank of India on Tuesday hiked its cash reserve ratio for banks by 50 basis points to seven percent, but kept short-term borrowing rates unchanged.The central bank said in a quarterly review that while inflation had fallen below its five percent forecast for the year to March […]
Bollywood star Dutt jailed for six years
July 31, 2007 (AFP) – Bollywood movie star Sanjay Dutt was Tuesday sentenced to six years in jail for illegal weapons possession in connection with serial bombings in Mumbai in 1993. Dutt was also the last of the 100 people convicted in the long-running court case to be sentenced.Of them, 12 were given death sentences […]
Maldives heads for referendum on political system
July 31, 2007 (AFP) – The Indian Ocean tourist paradise of the Maldives will hold a referendum to decide the future role of its powerful presidency held by Maumoon Abdul Gayoom for the past 29 years, officials said Tuesday.The main opposition party welcomed the move to hold a plebiscite next month on whether the presidency […]
Citizen journalism website gets multi-million-dollar boost
SAN FRANCISCO, July 30, 2007 (AFP) – NowPublic announced Monday that the fast-growing citizen journalism website has scored 10.6 million dollars (US) in financing to fuel its drive to become the world’s largest news agency.The Vancouver-based start-up says it is growing at a rate of 35 percent monthly and has nearly 120,000 contributing “reporters” in […]