Category: Other
Asian equity markets plunge on opening
SINGAPORE, Feb 28, 2007 (AFP) – Singapore share prices opened 4.82 percent lower Wednesday, in line with continued falls in regional markets. The Straits Times Index opened down 155.89 points or 4.82 percent at 3,076.13. Blue chips were among the big losers, including Singapore Airlines, down 4.32 percent and Singapore Press Holdings down 4.37 percent […]
Indian shares follows region down 3%
MUMBAI, Feb 28, 2007 (AFP) – Indian share prices fell 3.17 percent on Wednesday in line with a wave of selling that has swept global markets on fears of a US economic slowdown, dealers said. “The markets expectedly opened weak due to global weakness in a knee-jerk reaction,” said Atul Mehra, managing director of capital […]
‘s rubber trade slams government over misuse of industry funds
February 27 (LBO) – Sri Lanka’s rubber trade has cried foul at government moves to deny them cash collected from the sector for its own development, less than a month after tea traders protested the misuse of an industry fund.The Ceylon Rubber Traders Association (CRTA) said Tuesday that the industry had been officially informed that […]
Dodgy Practice
February 27 (LBO) – Sri Lanka’s accounting watchdog said Tuesday it would take action against Touchwood over its accounting practices and would also probe the listed forestry investment firm’s auditor. The firm was audited by KPMG. The Colombo Stock Exchange referred the company to the Sri Lanka Accounting and Auditing Standards Monitoring Board (SLAASMB) when […]
Legal Upgrade
February 27 (LBO) – Sri Lanka will allow hearing of appeal cases to be decentralized to its provincial courts, to clear a ten-year backlog of cases, officials said Monday. There is a backlog of appeal cases from 1995, with Sri Lanka having only three courts in its court of appeal to handle all cases that […]
Indian chases world chili record
GUWAHATI, India, Feb 25, 2007 (AFP) – Spurred by a Guinness World Records nod to the local “ghost chili,” a woman from India’s northeast hopes to set a new record by eating a massive quantity of the world’s hottest pepper.Anandita Dutta Tamuly, a 26-year-old mother, is headed from Assam to London at the invitation of […]
Nissan joins 900 million dollar Indian car venture with Renault
CHENNAI, India, Feb 26, 2007 (AFP) – Japanese automaker Nissan on Monday tied up with French partner Renault’s Indian venture to build a 902 million dollar plant, joining a race with rivals Toyota and Honda for a slice of the South Asian nation’s expanding car market.For decades after independence India’s roads were dominated by two […]
Clean Sweep
Feb 26 (LBO) – Sri Lanka’s trade ministry is looking at appointing a liquidator to close a state trading firm that went bankrupt in a failed privatization attempt, an official said. Sathosa Retail, incorporated to take-over the supermarket operations of the Co-operative Wholesale Establishment (CWE) is estimated to owe more than 800 million rupees to […]
Summoned
February 23 (LBO) – Sri Lanka’s foreign minister has summoned the Saudi envoy in Colombo over the beheading and ‘crucifixion’ of four Sri Lankans, including a man who was told he was serving a prison term, the foreign affairs ministry said Friday, . Four Sri Lankans Victor Corea, Ranjith Silva, Sanath Pushpakumara and Sharmila Sangeeth […]
Blood Money
RIYADH, Feb 24, 2007 (AFP) – A 97-year-old Saudi man waiting to be beheaded for murder has launched an appeal for donations of blood money in order to spare him from the death sentence, a local newspaper reported on Saturday.H. al-Zahrani, who has been imprisoned for several years, made his plea to raise 2.6 million […]
From holidays to yoga pants: luxury freebies for Oscars stars
LOS ANGELES, Feb 22, 2007 (AFP) – The US tax man has helped put a stop to the 100,000-dollar goodie bags, but celebrities will still be showered with an eye-popping array of lavish gifts at this year’s Oscars.“This is just a thanks for making great movies.These are the people who help put a smile on […]
State media praise money printing president on birthday as people burn from inflation
HARARE, Feb 21, 2007 (AFP) – Zimbabwe’s state-run media lavished praise on veteran President Robert Mugabe on the 83rd birthday of Africa’s oldest-serving leader Wednesday, while stores in the capital Harare ran out of bread.“President an unparalled visionary,” read the headline of The Herald newspaper, which dedicated 16 pages to pictures and congratulatory messages to […]