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Sri Lanka fighting kills 43
October 15, 2008 (AFP) – Heavy fighting broke out across Sri Lanka’s northern area of Kilinochchi, leaving 37 Tamil Tiger rebels and six soldiers dead, the defence ministry said Wednesday.It said 34 rebels and 25 soldiers were also wounded in the fierce fighting that took place on several fronts on Tuesday. The Liberation Tigers of […]
Sri Lanka budget airline to fly again
15 Oct, 2008 (LBO) – Sri Lankan budget airline Mihin Lanka’s new chairman says they are trying to re-launch the defunct carrier’s operations by December 2008. Raja Edirisuriya, former chairman of the State Engineering Corporation, Wednesday officially took over the government’s airline operator Mihin Lanka which has been grounded since May. He says that after […]
Rice market tight next year despite big harvest: IRRI
MANILA, October 15, 2008 (AFP) – World rice markets are likely to remain tight next year despite an expected record harvest after key producers clamped down on exports, the International Rice Research Institute (IRRI) said Wednesday.Export prices of one of the world’s most important grains almost tripled between last November and May, triggering riots in […]
Bad economy helps military recruitment: Pentagon
WASHINGTON, October 14, 2008 (AFP) – The US economic crisis could well make life easier for US military recruiters, who have struggled in recent years to meet their services’ enlistment goals in a time of war. “We do benefit when things look less positive in civil society,” said David Chu, undersecretary of defense for personnel […]
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CHENNAI, October 15, 2008 (AFP) – A group of MPs from southern India have threatened to quit unless the government intervenes to halt “atrocities” against fellow Tamils in Sri Lanka. The 38 deputies from Tamil Nadu are allies of India’s ruling Congress party and their resignations could threaten the stability of the national government. “If […]
Hissing Noise
LONDON, October 15, 2008 (AFP) – The price of oil slumped below 72 dollars on Wednesday, its lowest level for more than 13 months, as recession fears raised concerns about a prolonged drop in energy demand, analysts said. The global financial crisis will give a vicious twist to an economic slowdown and is hitting world […]
US slipping into recession: Federal Reserve
NEW YORK, October 15, 2008 (AFP) – The United States has slipped into recession, the head of the San Francisco branch of the Federal Reserve, the nation’s central bank, said. “The recent flow of economic data suggests that the economy was weaker than expected in the third quarter, probably showing essentially no growth at all,” […]
Policy Track
Oct 14, 2008 (LBO) – Sri Lana’s government plans to deregulate railway freight rates and invite private sector participation to increase movement of goods by rail, according to a new transport policy unveiled recently.“Railway freight tariffs will be de-regulated and the Sri Lanka Railways will be permitted to determine tariffs competitively to attract freight transport […]
Executive Skills
Oct 14, 2008 (LBO) – Sri Lanka’s first-ever reality television game show, Path Breakers, is to modify its format and concept this year to accommodate 50 school goers to hone their corporate skills for the future. The show has loosened the entry criteria, dropping the minimum age of entry to 15 years to give the […]
Dozens dead in latest Sri Lanka fighting
COLOMBO, October 14, 2008 (AFP) – The Sri Lankan army said Tuesday it has killed 38 Tamil Tiger rebels involved in a fierce counter-attack in the island’s war-torn north. The defence ministry said its troops fought pitched battles and beat back rebel assaults along several fronts in the north on Monday. It said three government […]
Sri Lanka apparel industry says it helped uplift village economy
Oct 14, 2008 (LBO) – Sri Lanka’s apparel industry is aiming to increase export revenue despite tough market conditions, saying the spread of factories to rural areas has significantly raised living standards in villages.“Without this industry poverty would have been much higher,” said Ashraff Omar, a top exporter and member of the Joint Apparel Association […]
Reykjavik stocks show 76-pct fall but officials blame calculation quirk
REYKJAVIK, October 14, 2008 (AFP) – Trading resumed on the Reykjavik stock exchange Tuesday and the main index showed a decline of 76.13 percent, but market officials insisted this figure was heavily distorted by the absence of trading in finance companies. Excluding Iceland’s comatose financial stocks, which were suspended more than a week ago and […]