Category: Industry
Thailand seeks bigger share of booming business tourism market
SINGAPORE, Apr.25 (AFP) – Thai tourism officials on Tuesday launched a regional campaign to promote the kingdom as Southeast Asia’s premier convention and exhibition hub, setting up a rivalry with major players Singapore and Hong Kong. Business tourism is a growing sector in the travel industry and Thailand — already with a worldwide reputation among […]
Old Ghost
GENEVA, Apr. 25 (AFP) – The spectre of failure has returned to haunt the World Trade Organisation, as negotiators prove unable to maintain momentum in the Doha Round talks and developing countries warn that no deal is better than a bad deal.The 149-nation WTO has acknowledged that it will miss an April 30 deadline for […]
Scout Partner
DHAKA, Apr. 25 (AFP) – Cash-strapped national carrier Biman Bangladesh Airlines is looking for a strategic partner to revive its financial fortunes, a minister said Tuesday.“We are seriously looking for strategic partners so that we can share management and aircraft with a reputed airline to make Biman a profitable corporation,” junior civil aviation minister Mirza […]
Ignorance Bliss
SINGAPORE, Apr. 25 (AFP) – The Philippines, Singapore and Japan escaped the 2004 tsunamis which devastated much of Asia but some potential travelers believe otherwise, a survey released Tuesday found. The poll of thousands of respondents across 10 global markets found that an average of 18 percent said several destinations untouched by the tragedy were […]
Wide Berth
Apr.25 (LBO) – Virtusa Corp., the U.S. based software development company, Tuesday announced plans to invest 15 million dollars to expand operations in Sri Lanka. The investment plans forms part of Virtusa’s strategy to invest 48 million dollars in Asia for the fiscal year 2006-7, which includes 33 million dollars in India. “Most of the […]
Jackpot
PARIS, Apr.24 (AFP) – While governments and consumers weep over the rise and rise of fuel prices, oil companies are rubbing their hands in glee. Last year the world’s 250 top oil companies earned profits totalling 243 billion euros (300 billion dollars), a 35-percent increase on 2004, and that in spite of hurricanes in the […]
Chess Game
Apr.24 (LBO) – Sri Lanka plans to ask for more shipments of clothes, edible oils and fewer limits on country of rules origins on exports of key items to India, when both nations meet for trade talks tomorrow, officials said. Four days of trade talks between the two nations under the Comprehensive Economic Partnership Agreement […]
Loosing Grip
PARIS, Apr.24 (AFP) – From cars to planes, chemical plants to retail, every sector in the world economy is having to adapt to the prospect that high oil prices are going to last.Most oil firms are transferring the price hike to their clients, noting that high oil revenues stimulate research and development. CARS: Although driving […]
New Route
HONG KONG, Apr. 24 (AFP) – A long campaign to remove pirated goods from shop fronts in Asia is finally having an impact but the crackdown has also changed the nature of the problem and new outlets are flourishing.The results of police raids, a slate of new laws and increased prosecutions can be seen across […]
Easing Up
SINGAPORE, April 21, 2006 (AFP) – Oil prices were lower in Asian trade Friday on profit-taking after recent sustained gains to record highs amid concerns over tight US gasoline (petrol) supplies and tensions over Iran’s nuclear ambitions, dealers said. At 11:15 am (0315 GMT), the June New York light sweet crude contract was at 72.96 […]
Wider Berth
DHAKA, April 21, 2006 (AFP) – South Asian nations have agreed to include services in the South Asian Free Trade Agreement (SAFTA) in a bid to boost regional economic integration, a report said Friday.The decision came at a meeting of South Asian trade ministers in Dhaka that ended Thursday on the free trade pact which […]
Chinese Flyovers
Apr.21 (LBO) – China Friday agreed to give a billion rupee grant to build three flyover roads in Sri Lanka, the Finance Ministry said. – LBO Newsdesk “The three infrastructure projects will help reduce the traffic congestion on the highly congested interchanges at Nugegoda and Welikada and also the road section from Kadawatha to Kiribathgoda,” […]