Category: Other
” of recession: survey
LONDON, July 8, 2008 (AFP) – Britain’s economy, buckling under the credit crunch and a slowing property market, faces a “serious risk” of recession as firms face soaring costs and falling orders, according to a survey published Tuesday.The British Chambers of Commerce, which represents the country’s business interests around the world, made the claim in […]
Matsushita Electric Works says it has developed eco-friendly lamp
TOKYO, July 8, 2008 (AFP) – Japan’s Matsushita Electric Works Ltd.said Tuesday it had developed a fluorescent lamp that does not use mercury or a gas-discharging process. The enviromentally friendly device, which uses processed silicon, could be 50 percent brighter than a conventional fluorescent lamp while consuming the same amount of electricity, the company said […]
Sri Lanka rubber prices, cultivation rising: trade official
July 08, 2008 (LBO) – Sri Lankan natural rubber prices will remain high on strong demand while cultivation and production is increasing, the chairman of the Colombo Rubber Traders’ Association Anura Edirisinghe said. Global natural rubber consumption will continue to outstrip supply through 2009, resulting in prices maintaining current high levels or increasing even above […]
Sri Lanka tea exporter sees lifestyle trends expanding market
July 08, 2008 (LBO) – Changing consumer tastes and a willingness to pay a premium for a superior product should help tea producers, who until recent years had faced stagnant prices, a top Sri Lankan exporter says. Anslem Perera, managing director of Euro Scan, says tea producers and exporters were making use of traditional consumption […]
‘s Gorkhas campaign for new state
DARJEELING, July 8, 2008 (AFP) – Leaders of the ethnic Nepali-speaking minority in India’s mountainous and tea-rich northeast have started month-long prayers to press for their own federal state.Ethnic Gorkhas — who number more than a million in the eastern state of West Bengal — have been demanding a separate state within India for decades, […]
South Korea props up won with dollar sales
EOUL, July 8, 2008 (AFP) – The South Korean won hit a two-week high Tuesday after foreign exchange authorities sold up to two billion dollars to prop it up, traders said.The currency was quoted at 1,031.60 per dollar as of 0500 GMT, compared to Monday’s close of 1,042.90. Earlier Tuesday it rallied as high as […]
Sri Lanka tea exports up to May at new high
July 07, 2008 (LBO) – Sri Lanka has earned half a billion dollars from tea exports in the first five months of the year, with volumes also hitting a new record of 129.4 million kilograms, brokers Asia Siyaka Commodities said. But tea bag exports fell from 8.5 million in the 2007 period to 7.6 million […]
Toyota to equip Prius with solar panels: report
TOKYO, July 7, 2008 (AFP) – Japan’s Toyota Motor Corp.plans to add solar panels to its popular Prius hybrid early next year to power the vehicle’s air conditioning, a newspaper report said Monday. As part of a complete design makeover, the Prius will be fitted with rooftop solar panels on its high-end models, the Nikkei […]
Loose money US believes in strong dollar
TOYAKO, July 6, 2008 (AFP) – President George W.Bush on Sunday reaffirmed the United States’ “strong dollar” policy, saying the US economy’s fundamental strength would ultimately support the flagging currency.“The US believes in a strong dollar policy and believes that the strength of our economy will be reflected in the dollar,” he said ahead of […]
Iran inflation tops 26-pct amid 40-pct money growth
TEHRAN, July 5, 2008 (AFP) – Iran’s inflation rate, which has provoked intense criticism of the government, topped 26 percent in June, according to a central bank statement published in the press on Saturday.“During the Iranian month of Kordad (to June 20) inflation reached 26. 4 percent compared with the same month a year ago,” […]
Airlines shed weight as fuel costs soar
TOKYO, July 6, 2008 (AFP) – Next time you take to the skies you may find there are fewer pages in your in-flight magazine, your fork is slimmer and your plate feels different.Blame it on soaring oil prices. The seat you are sitting on may be lighter. Perhaps there’s less water on board for the […]
Sri Lanka tea exporters bemoan lack of funds for promotion
July 04, 2008 (LBO) – Sri Lankan exporters of tea, the island’s top export commodity, say they not getting enough funds for marketing even though the government charges a tax on shipments which is meant for tea promotion.But the government subsequently decided to consolidate at the Treasury all cess funds collected on exports of tea, […]