Category:
”: Norway
OSLO, July 30, 2008 (AFP) – The breakdown of the World Trade Organization (WTO) negotiations signals a “new world order” in which the West can no longer unilaterally impose its will on the rest of the world, Norway’s foreign minister said Wednesday.“I may have been present as the world order crumbled.But at the same time, […]
Oil prices fall sharply as dollar strengthens
LONDON, July 29, 2008 (AFP) – Oil prices fell heavily on Tuesday as traders reacted to the stronger dollar, erasing earlier gains seen after energy giant Royal Dutch Shell suspended some of its crude deliveries from Nigeria. OPEC President Chakib Khelil described crude prices above 120 dollars a barrel as “abnormal,” adding that they could […]
Widespread lament over collapse of WTO talks
WASHINGTON, July 30, 2008 (AFP) – Government and business leaders lamented the failure to reach a global trade pact in Geneva on Tuesday, with a leading US business group blaming China and India for the collapse of the talks.Argentina however blamed wealthy nations for failing to provide enough concrete benefits for developing countries. The breakdown […]
Los Angeles passes ban on new fast-food outlets
LOS ANGELES, July 30, 2008 (AFP) – Los Angeles officials on Tuesday approved a one-year ban on fast-food chains opening in a poor neighborhood of the city battling higher-than-average obesity, officials said.The moratorium covers the 500,000 people living in the 32-square mile area of South Los Angeles, which is predominantly Hispanic and African-American. Designed to […]
‘s backlash in second Test
GALLE, July 30, 2008 (AFP) – Sri Lanka skipper Mahela Jayawardene says his team is well-prepared for India’s expected fight-back in the second Test starting here on Thursday.The hosts outplayed India in all departments of the game in the opening match of the three-Test series in Colombo, winning by an innings and 239 runs on […]
New media turn Beijing into e-Games
HONG KONG, July 30, 2008 (AFP) – When Coroebus of Elis won the first Olympic sprint in 776 BC, the result was scratched on to parchment and read out in market places in the following days and weeks.This year, the Olympic 100 metres champion will be announced immediately, to billions worldwide, via a click of […]
South Asian nations side-step regional trade pact amid frictions
July 30, 2008 (AFP) – South Asian leaders meeting in Sri Lanka this weekend will discuss improving commercial ties but political and other tensions have dampened hopes a regional free trade pact will be implemented any time soon, economists say. “It took the European Union 50 years to get the euro out. We’re still just […]
Australia, Myanmar as SAARC observers: Sri Lanka official
July 30, 2008 (LBO) – Australia and Myanmar would be admitted as observers of the South Asian Association of Regional Corporation (SAARC) at this year’s sessions, now underway in the Sri Lankan capital Colombo, an official said.Sri Lanka’s additional foreign secretary Prasad Kariawasam told reporters after a meeting of the so-called ‘standing committee’ of foreign […]
Sri Lanka stocks firm as AMW buyers mop up shares
July 29, 2008 (LBO) – Sri Lankan stocks closed higher Tuesday with the Dubai construction firm that took control of Associated Motorways (AMW) yesterday continuing to buy into the stock, brokers said. Associated Electrical Corporation (AEC), the controlling shareholder of AMW which sold out, fell 4.83 percent or 77.25 rupees to 1,522.50. The All Share […]
Better Travel
July 29, 2008 (LBO) – An efficient public transport system will help Sri Lanka reduce its fuel bill and curb environmental pollution, a top official from the National Transport Commission (NTC) said. Nearly 70 percent of the total fuel consumption per year is by private passenger vehicles which carry less than 30 percent of the […]
Higher Skills
July 29, 2008 (LBO) – The Cranfield School of Management in the UK has offered a Master of Business Administration scholarship to any member of Sri Lanka’s three leading accountancy bodies.Cranfield MBA alumni from Sri Lanka include Hatton National Bank managing director Rajendra Theagarajah, senior vice president of WNS Arul Sivagananathan and Stretchline group financial […]
Steady State
July 29, 2008 (LBO) – Fitch Sri Lanka has confirmed the ‘AAA(lka)’ long term rating of state-run National Savings Bank with a stable outlook but has said low interest rates offered by the bank are shrinking its market share. Though the bank has been making profits in the last few years by keeping deposit rates […]