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Malaysia to tries to reflate bursting palm oil bubble: report
KUALA LUMPUR, July 27, 2008 (AFP) – Malaysia will put in place a series of measures to stabilise plummeting global palm oil prices including selling off crude stocks, a report said Sunday.Peter Chin, minister of plantation industries and commodities, told the Sunday Star newspaper the government wanted to make sure that the almost 25-percent drop […]
Sri Lanka shifts site of planned second international airport
July 28, 2008 (LBO) – Sri Lanka’s ports and aviation ministry has stopped work on a controversial new international airport in the island’s south and decided to shift it to a new location. Sri Lanka has only one international airport at present and needs a second one under international air safety rules so flights can […]
After boom years, inflation bites in Vietnam
HANOI, July 28, 2008 (AFP) – Hit with Asia’s highest inflation rate and a surprise 30 percent hike in petrol prices last week, some Vietnamese are rediscovering bicycles and the frugal lifestyle of bygone years. Galloping consumer prices — fuelled by record global oil, food and commodity costs — have rocked many countries, but few […]
Typhoon lashes Taiwan, hitting schools and travel
TAIPEI, July 28, 2008 (AFP) – Typhoon Fung-wong slammed into Taiwan’s east coast Monday, bringing fierce winds and heavy rains that forced the closure of schools and offices across the island and severely disrupted travel. The stock market was closed for the day, along with all schools and offices in Taiwan, railway traffic was halted […]
China on brink of becoming dominant sporting power
BEIJING, July 28, 2008 (AFP) – China is on the brink of becoming the most dominant sporting power in the world, with expectations running high that they will bounce the United States from the top of the Olympic medal table.At Athens four years ago, China finished with 32 gold, 17 silver and 14 bronze medals […]
India Sri Lanka economic links de-railed by protectionism
July 28, 2008 (LBO) – The developing discourse on a trade agreement with India is disturbing. The proponents of the manjokka economy, led by experts on plug removal and tooth extraction, are framing the debate. The level of naiveté displayed by those who should know better, including those who write newspaper columns and the quick surrender […]
Sri Lanka Treasury Secretary tenders resignation
July 28, 2008 (LBO) – Sri Lanka’s Treasury Secretary P B Jayasundera has submitted his resignation to President Mahinda Rajapakse following a court order that faulted him over a privatization deal and a tax holiday, an official said.Reports said Jayasundera had offered to resign soon after the order was made last week, but the government […]
Aromatic Growth
July 27, 2008 (LBO) – Cosmetics manufacturer Oriflame says the market for its products in Sri Lanka grew by almost half in 2007, more than the average growth rate of markets in the Asian region.Oriflame Cosmetics is present in 59 countries with a sales force of 2.3 million independent sales consultants. “This means there is […]
Sri Lanka cracks down on stray dogs ahead of South Asian meet
July 27, 2008 (AFP) – Sri Lanka is rounding up dozens of stray dogs ahead of a major South Asian summit, which will also see the island’s largest deployment of police dogs to sniff out explosives, officials said Sunday.The Colombo Municipal Council said dozens of strays over the weekend had been captured near the Bandaranaike […]
” as Sri Lanka hosts South Asian forum
July 27, 2008 (AFP) – Sri Lanka is ramping up security in its already tightly-guarded capital to unprecedented levels as it prepares to host regional leaders for a major summit amid an escalating war on the Tamil Tigers. India’s Prime Minister Manmohan Singh will bring thousands of his own security personnel, helicopters and bullet-proof cars, […]
Dozens dead in heavy fighting across Sri Lanka: govt
July 26, 2008 (AFP) – At least 66 Tamil Tiger rebels and eight government soldiers have died in the latest fighting in northern Sri Lanka, the island’s defence ministry said Saturday. The fighting on Friday was centred around Jaffna, Mannar, Vavuniya and the Weli Oya regions, the ministry said.There was no immediate comment on the […]
Indian leaders urge calm, army called out after attacks
AHMEDABAD, July 27, 2008 (AFP) – Indian leaders issued appeals for calm Sunday as the army was called out after a wave of bombings killed 45 people in Ahmedabad, a city rocked by deadly Hindu-Muslim riots six years ago. The string of 16 bombings, which left more than 160 people injured, ripped through crowded places […]