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China, India rising, but face bumpy ride: intelligence forecast
WASHINGTON, November 22, 2008 (AFP) – A new US intelligence forecast identifies China and India as rising heavyweights in a coming multi-polar world but says both face a potentially bumpy ride to the top.“Although we believe chances are good that China and India will continue to rise, their ascent is not guaranteed and will require […]
Sri Lankan stocks fall sharply in thin trading
Nov 21, 2008 (LBO) – Sri Lankan stocks fell sharply Friday with a small net foreign inflow although trading volumes were low in what share market analysts described as a delayed reaction to the plunge in global markets yesterday. Chemical Industries (Colombo) with 14.2 million rupees, and Lanka Lubricants with 12.9 million rupees topped the […]
Sri Lanka export earnings fall in September
Nov 21, 2008 (LBO) – Sri Lanka’s exports earnings in September fell 9.4 percent to 652 million US dollars from a year ago on lower demand from the US and other big markets, the central bank said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Industrial exports […]
Gravy Train
Nov 21, 2008 (LBO) – The Sri Lankan government has increased the customs duty on imported petrol by 10 rupees per litre to 35 rupees from yesterday, a senior Treasury official says. We are increasing the taxes to trim the extra profits the two petroleum companies are making with the sudden drop in world energy […]
US consumer prices plunge record 1.0 pct in October
WASHINGTON, November 19, 2008 (AFP) – US consumer prices plunged a record 1.0 percent in October amid an accelerating global financial crisis, government data showed Wednesday. The one-month decline in the Labor Department’s consumer price index (CPI) was the steepest since the department began publishing seasonally adjusted changes in February 1947 and exceeded analysts’ consensus […]
Sri Lanka capital projects may be delayed but disinflation faster amid global turmoil: interview
Nov 20, 2008 (LBO) – Sri Lanka has plans to borrow abroad next year at commercial rates to repay maturing loans and keep its infrastructure projects on track. While raising new money is difficult, ongoing global turmoil is tempering commodity prices, helping price stability. ETV’s Lanka Business Report programme discussed the challenges facing Sri Lanka […]
Sri Lanka high-value shares draw interest
Nov 20, 2008 (LBO) – Sri Lankan stocks closed virtually flat on Thursday with high-value stocks like John Keells Holdings drawing interest, brokers and analysts said. The Colombo All Share Price Index fell 0.33 percent (5.74 points) to end at 1,1711.78 while the Milanka index of liquid stocks fell 0.01 percent (0.23 points) to 1,927.21. […]
Sea Bandits
HONG KONG, November 20, 2008 (AFP) – A Hong Kong-flagged ship captained by a Sri Lankan that was hijacked two months ago off the coast of Somalia is returning home after its owner paid a ransom to a group of pirates, AFP was told Thursday. A spokeswoman for Sinotrans Shipping said its vessel Great Creation […]
Financial Turmoil
Nov 20, 2008 (LBO) – A senior Sri Lankan central banker says the collapse of the global financial sector has underlined the value of real output and resources but that it could dampen consumption. Central Bank Deputy Governor W A Wijewardena said that the entire financial market is now going through turmoil. He was speaking […]
Sri Lanka tea prices down; quality improves, volumes fall
Nov 20, 2008 (LBO) – The quality of black tea production in Sri Lanka has improved while quantities are coming down, as producers tightened standards in response to the crisis caused by the collapse in prices, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 “Reduced […]
Sri Lanka takes Tiger defences, kills scores: defence ministry
November 20, 2008 (AFP) – Sri Lankan security forces on Thursday captured a key defence line of Tamil Tiger rebels after six days of intense fighting that left “scores” of guerrillas dead, the defence ministry said.The rebels are locked in a decades-long war with the government to carve out a homeland for minority Tamils. To […]
Sri Lanka govt, Tigers slammed by Amnesty over civilians in war zone
November 19, 2008 (AFP) – Amnesty International on Wednesday said Sri Lanka was unable to provide for the basic needs of 300,000 people trapped inside rebel-held areas and accused Tiger guerrillas of using them as human shields.“The abuses carried out by the LTTE make our call for international monitors to be allowed to visit conflict-affected […]