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Sri Lankan tea exporters ask banks to shed lending fears
Aug 18, 2008 (LBO) – Sri Lankan tea exporters say banks should be less fearful in lending for shipments to key markets in the volatile Middle East and Russia and adopt new lending methods that use brands as collateral. Exporters say they are being restrained by high borrowing costs and a marked reluctance by banks […]
Sri Lankan troops capture rebel training base: govt
August 17, 2008 (AFP) – Sri Lankan troops captured a rebel training base in the war-torn north of the island, as fighting elsewhere killed at least 31 Tamil Tigers and nine soldiers, the defence ministry said Sunday. Troops on Saturday took control of the large rebel complex, which had at least 100 underground bunkers, military […]
Sri Lanka expert says solar energy too costly without subsidy
Aug 18, 2008 (LBO) – Solar energy is still too expensive to be used widely without government subsidies, a Sri Lankan expert has told the island’s energy-intensive industries which are grappling with the highest electricity costs in Asia.Tilak Siyambalapitiya, managing director, Resource Management Associate, said solar energy cost 60 rupees per kilowatt hour whereas now […]
Sri Lanka Unilever unit marketing models push deodorant sales
Aug 18, 2008 (LBO) – Consumer goods manufacturer Unilever Sri Lanka’s unconventional sales campaign for AXE men’s deodorant has already increased sales by 25 percent, the company said. Unilever hopes to enlarge its AXE footprint in Sri Lanka by distributing products to smaller shops and groceries. The deodorants come in two sizes and sales depend […]
Sri Lanka fighting to displace more people: UN
August 18, 2008 (AFP) – Thousands of people have been forced to flee their homes in northern Sri Lanka, joining thousands of others displaced by a government push into Tamil rebel-held territory, the UN said Monday.The United Nation’s Inter-Agency Standing Committee said they expected more people to flee the ongoing fighting, with security forces attempting […]
‘s Musharraf announces resignation
ISLAMABAD, August 18, 2008 (AFP) – Pakistani President Pervez Musharraf announced in a televised address to the nation Monday that he had decided to resign after nine years in power to avoid the threat of impeachment.The former army chief, who seized power in a bloodless coup in 1999, was under huge pressure from the governing […]
Southern African countries launch free trade zone
JOHANNESBURG, August 17, 2008 (AFP) – Southern African countries launched a regional trade zone at a summit on Sunday that aims to eliminate import tariffs, with plans for a common currency by 2018. Eleven of the 14 countries that are part of the Southern African Development Community (SADC) will participate in the free trade area, […]
‘s Mendis an unusual spinner, says Dhoni
DAMBULLA, August 18, 2008 (AFP) – India one-day captain Mahendra Singh Dhoni on Monday conceded it was not easy to read Sri Lanka’s unorthodox spinner Ajantha Mendis. “When you are playing Mendis, you have to save wickets and get runs as well. It gets a bit tough. Even Murali (Muttiah Muralitharan) was difficult some time […]
Sri Lanka crush spineless India
DAMBULLA, August 18, 2008 (AFP) – Mahela Jayawardene cracked a responsible half-century to guide Sri Lanka to a crushing eight-wicket victory over India in the first one-day international here on Monday.The Sri Lankan skipper scored an unbeaten 61 for his 47th half-century to help his team achieve a modest 147-run target with more than 15 […]
‘s economy as gloomy data piles up
NEW DELHI, August 17, 2008 (AFP) – Until a few months ago, the most popular buzz phrase for India was “economic miracle”, with the nation appearing impervious to the financial turmoil engulfing the developed world. “No other issue is likely to dominate the political scene” as much in the coming months, he said. The government […]
Australia announces Pacific guest worker scheme
SYDNEY, August 17, 2008 (AFP) – Thousands of Pacific Islanders will be allowed to live and work in Australia under a new guest worker plan announced Sunday by the government.Federal Agriculture Minister Tony Burke said the scheme would allow up to 2,500 people from Kiribati, Tonga, Vanuatu and Papua New Guinea to work here for […]
Openers Jayasuriya, Sehwag in explosive duel
DAMBULLA, August 17, 2008 (AFP) – Indian skipper Mahendra Singh Dhoni and Sri Lankan captain Mahela Jayawardene are looking forward to an explosive start to their one-day international series starting here Monday.Sri Lanka’s left-handed opener Sanath Jayasuriya may be 39, but remains a bowler’s nightmare with his ability to change the course of a match […]