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Bangladesh eyes trade pacts with Sri Lanka, India, Pakistan after Doha collapse
DHAKA, 2008 (AFP) – Bangladesh is pursuing bilateral free trade deals with three neighbouring countries following the collapse of World Trade Organisation (WTO) talks for a global agreement, an official said Monday. If successful, the WTO’s so-called Doha round of talks would have reaped huge financial benefits for Bangladesh, giving the impoverished country a massive […]
Australian central bank leaves rates on hold as credit demand slows
SYDNEY, August 5, 2008 (AFP) – Australia’s central bank left interest rates unchanged Tuesday at a 12-year high of 7.25 percent and indicated borrowing costs could fall amid signs of an economic slowdown. “They’re clearly signaling the next move is down,” Oster said. The central bank said it still expected inflation to remain relatively high […]
Intel reveals design for fast, efficient future chips
SAN FRANCISCO, August 4, 2008 (AFP) – Intel on Monday revealed details of a new generation of chips designed for video game lovers, multi-taskers, and people that want power-sipping computers adapted to increasingly mobile lifestyles.The world’s largest chip maker provided a glimpse of “multi-core” computer processing technology codenamed “Larrabee” that it plans to showcase next […]
Sri Lanka minister a challenge to law enforcement: media watchdog
Aug 05, 2008 (LBO) – The culture of impunity and the continued attacks against Sri Lanka’s media were condemned by the watchdog Free Media Movement, after a TV cameraman was assaulted by thugs while covering a state event.Controversial minister Mervyn Silva grabbed the camera of a Sirasa and MTV network cameraman, while goons surrounded him […]
Bubble Deflating?
SINGAPORE, August 5, 2008 (AFP) – World oil prices fell in Asian trade Tuesday as fears about slowing US demand outweighed the increasing likelihood of heightened tensions over Iran’s controversial nuclear programme, dealers said. The storm was not seen as a threat to oil installations but operators in the crucial US petroleum industry hub said […]
” tax
Aug 05, 2008 (LBO) — Sri Lanka’s environmental protection office is hoping to collect up to 800 million rupees from a series of taxes charged on people who own cars, mobile phones, standard light bulbs and firms that use telecom transmission towers.The Central Environmental Authority (CEA) will also charge a two percent levy on top […]
Sri Lanka stocks end firmer
Aug 04, 2008 (LBO) – Sri Lankan stocks closed marginally higher Monday extending gains made last week but turnover was low. The All Share Price Index closed up 0.29 percent (7.15 points) at 2,480.60 while the Milanka rose 0.54 percent (15.93 points) to 2,969.46. Turnover was 194 million rupees. Lanka Cement rose 3.85 percent or […]
Risky Waters
Aug 04, 2008 (LBO) – Heavy swells caused by monsoon weather are creating delays at Colombo port, officials at shipping lines calling at the Sri Lankan harbour said. The bad weather sometimes forces vessels to delay entering the port as well as leave after discharging and loading cargo, they said. “At the moment productivity has […]
Bank Trends
Aug 04, 2008 (LBO) – Fitch Ratings has confirmed the ‘AAA(lka)’ national long-term rating of HSBC Sri Lanka with a stable outlook. The ratings agency said in a statement that the bad loans of the bank, the island’s largest foreign bank, had increased but that its asset quality was high by Sri Lankan standards. Fitch […]
Money Management
August 4, 2008 (LBO) – Sri Lankan savers, faced with the prospect of the value of their savings being eroded by record inflation, are being advised to save early in life and diversify to spread the risks. Top money management professionals say the public must adapt to financial planning while saving a part of the […]
Online Books
Aug 04, 2008 (LBO) – A Sri Lankan firm has started selling books by local authors on the internet with soft copies available for download, the company, Z-World said in a statement. The company said copies of books were available in pdf, a popular document compression format developed by the software firm Adobe. Buyers could […]
” to be housed in Bangladesh: Sri Lanka official
Aug 04, 2008 (LBO) – A South Asian ‘food bank’ to counter rising prices and perceived ‘shortages’ would be housed in Bangladesh, a Sri Lankan official said at the conclusion of a meeting of an eight nation regional grouping in Colombo.The food bank will have contributions from each country according to the size of its […]