Category: Other
Unsavory Label
Nov 23, 2006 (LBO) – Foreign investors in Singapore who attended a road show by the Colombo Stock Exchange have raised questions about Sri Lanka’s growing infamy as a money laundering hub, and the inability of authorities to counter such activities, participants said. One foreign investor asked the head table what action the authorities planned […]
‘s tea plantations battle weather, wages and trade union action
Nov 23 (LBO) – Sri Lanka’s tea plantations are battling weather, wage hikes and unofficial trade union ‘go slows’ on estates that have already eaten into October crop production, the lowest since 1995. Workers want a daily wage package of 295 rupees, up from the current wage of 180 rupees a day. Employers say they can […]
As online shopping grows, so do the dangers of fraud and theft
WASHINGTON, Nov 23, 2006 (AFP) – As growing numbers of Americans turn to the Internet for holiday shopping, experts warn that online dangers such as fraud and identity theft are increasing as well. One out of 10 people shopping online could become a victim of online fraud this holiday season, according to a report by […]
Big Fish
November 22, 2006 (LBO) – Sri Lanka’s securities watchdog has filed action against nine people for misleading market players with transactions connected with shares of Nawaloka Hospitals Ltd. The nine persons, the SEC says committed “acts to create a false/misleading appearance of an active share market and the offences of aiding and abetting and conspiracy […]
Air travel to boom on low-cost, emerging economies: Airbus
LONDON, Nov 22, 2006 (AFP) – European aircraft maker Airbus said Wednesday that its estimate of world demand for airliners in the next 20 years had leapt by 31.2 percent in two years to a total of 22,700. The surge from estimates in 2004 was being driven by demand from low-cost airlines and by growth […]
‘ risky behaviour with HIV/AIDS
GENEVA, Nov 21, 2006 (AFP) – Some 8.6 million Asians are infected with the HIV virus, UNAIDS said on Tuesday, warning the disease is thriving on risky behaviour in Southeast Asia and slowly taking hold in China, the world’s most populous nation. An estimated 960,000 Asians were newly infected over the past year while about […]
Singapore raises 2006 growth targets to 7.5-8.0 percent
SINGAPORE, Nov 20, 2006 (AFP) – Singapore raised its 2006 growth forecasts on Monday to 7.5-8.0 percent, a target analysts said is achievable after a better-than-expected third-quarter performance. Figures released by the MTI in its latest economic report showed third quarter growth was powered by the key manufacturing sector which surged 10.6 percent on the […]
‘s estate sector trade unions to hold crisis talks Tue on wages hike
Nov 20 (LBO) – Sri Lanka’s plantation sector trade unions are to hold crisis talks on Tuesday on stalled wage negotiations with companies, and any strike action, if at all. Employers say union demands for a 100 rupee a day increase over the current, without other added costs or employee benefits, would amount to five billion […]
UAE aims to lessen reliance on Asian workers
DUBAI, Nov 20, 2006 (AFP) – The United Arab Emirates (UAE) president announced plans to gradually replace Asian workers with nationals to redress the demographic imbalance in his country, in a newspaper interview Monday. Sheikh Khalifa bin Zayed al-Nayhan told London-based Asharq Al-Awsat he was aware of “the seriousness of the imbalance” in the oil-rich […]
APEC leaders push global free trade; North Korea crisis unresolved
HANOI, Nov 18, 2006 (AFP) – Asia-Pacific leaders on Saturday put their political muscle behind the drive to free up global trade, but they struggled to find common ground on how best to tackle the North Korea nuclear crisis.The quest for consensus over the response to Pyongyang’s shock atom bomb test last month dominated both […]
Legendary monetary economist Milton Friedman dies
WASHINGTON, Nov 16, 2006 (AFP) – Nobel prize-winning economist Milton Friedman, whose ideas helped power a conservative policy revolution in the 1980s, died Thursday at the age of 94.Friedman died of heart failure in San Francisco, California, near Stanford University where he taught most recently, friends and associates said. Friedman won the Nobel prize for […]
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SINGAPORE, Nov 17, 2006 (AFP) – US beverage giant Coca-Cola Company, in a long-term plan to diversify from soft drinks, will serve coffee and tea-making expertise from its first Asian specialty outlet, company executives said Friday. He described the concept as “pretty much a work in progress for the next six months.” – by Bernice […]