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Asian stocks recover as Thailand backs down on currency controls
HONG KONG, Dec 20, 2006 (AFP) – Asian stocks recovered from sharp falls Wednesday after Thailand’s military government backed down on imposing harsh currency controls which saw Bangkok shares lose a massive 15 percent. Elsewhere, benchmarks tended to follow local factors resulting in Tokyo closing up 1.40 percent and above the critical 17,000 points mark […]
Half of Tsunami donations still unused: BBC
LONDON, Dec 19, 2006 (AFP) – About half of the billions of dollars donated by individuals, companies and governments worldwide to help the victims of the southeast Asian tsunami two years ago has still not been spent, the BBC said on Tuesday. According to figures obtained by the broadcaster from a database compiled by the […]
‘s toymakers turn their attention to China
SHANGHAI, Dec 20, 2006 (AFP) – As children around the globe unwrap Christmas presents with “made in China” labels, some toymakers here are turning their attention to a new and potentially lucrative market — their own. For nearly 20 years, China’s 20,000 domestic factories have served as the elves of Santa Claus’s workshop, exporting a […]
Tamil Tigers holding seven boys for military training: officials
Dec 20, 2006 (AFP) – Tamil Tiger rebels who seized 22 teenagers in eastern Sri Lanka freed 15 girls but were holding seven boys for military training, local officials said Wednesday.The Sri Lankan government was also recently accused by the United Nations of colluding with the Karuna group to forcibly recruit child fighters, a charge […]
Tigers allege air strike amid mourning for negotiator
Dec 20, 2006 (AFP) – Sri Lankan war planes bombed inside rebel-held territory Wednesday as the militants mourned the death of their top peace negotiator Anton Balasingham, the guerrillas said in a statement. Israeli-built Kfir jets hit a civilian settlement in the district of Mullaitivu, but there were no casualties, the Liberation Tigers of Tamil […]
Tamil Tigers kill Sri Lankan soldier in army camp
COLOMBO, Dec 20, 2006 (AFP) – Tamil Tiger rebels attacked an army camp in northwestern Sri Lanka, killing a soldier, the defence ministry said Wednesday. The Liberation Tigers of Tamil Eelam (LTTE) raided an army camp in northwestern Mannar district on Tuesday night, the ministry said in a statement. The military retaliated, but it was […]
Earnings Squeeze
December 20, 2006 (LBO) – Caltex Lubricants Lanka said Wednesday that earnings in 2007 will take a hit, after the government upped taxes on base oil, used as a raw material in manufacturing lubricants. The government increased a three percent cess on base oil imposed in October to six percent from November 18, with the […]
’s government to acquire property in Fort to build a Presidential Square
December 20, 2006 (LBO) – Sri Lanka’s president Mahinda Rajapakse has given notice to owners of prime property around his official residence, that their land would be acquired urgently to develop a Presidential Square. Rajapakse has issued the order, on the recommendations of the minister in charge of Urban Development. More than 4 acres of […]
‘s estate workers get wage hike; trade union strike ends
December 19, 2006 (LBO) – Sri Lanka’s estate workers clinched a 260 rupee a day wage deal on Tuesday, ending weeks of strikes on tea and rubber estates that resulted in losses of over a billion rupees. Over 90 percent of workers are represented by trade unions the Ceylon Workers Congress, the Lanka Jathika Estate Workers […]
2006 worst year on record for journalist casualties: media watchdog
GENEVA, Dec 19, 2006 (AFP) – More journalists were killed in 2006 than any other year, with the war in Iraq still the deadliest conflict for the third consecutive year, a media watchdog group said on Tuesday. The Geneva-based Press Emblem Campaign (PEC) said that 94 journalists lost their lives in the course of their […]
Asian stocks punished as Thai junta spooks investors with capital controls
HONG KONG, Dec 19, 2006 (AFP) – Asian stocks were broadly lower Tuesday, with investors spooked by the worst ever losses in Bangkok where the military government imposed capital controls reminiscent of the 1997 Asian financial crisis. The controls, aimed at curbing a massive appreciation in the local currency, stunned the region, prompting heavy stock […]
Goa puts its money on casinos as tourists flood India
CALANGUTE, India, Dec 19, 2006 (AFP) – India’s Arabian Sea tourist resort of Goa, beloved of hippies and backpackers, plans to launch an armada of floating casinos to pull in high-roller tourists. Goa’s state government proposed the casinos as India posted a 13 percent rise in tourist arrivals to 3.91 million in the fiscal year […]