The European Parliament has passed a resolution condemning a nationalisation that has strained relations between Spain and Argentina. Argentina has nationalised YPF, wiping out the Spanish firm Repsol's controlling-stake in the oil firm. The resolution asks the European Commission to consider a "partial suspension" of tariffs that benefit …
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The Securities and Exchange Commission today said it has suspended a 10 percent limit on share price movements with immediate effect, a move that helped boost the bourse index by more than 2 percent. The limit was imposed by the regulator in late 2010 to curb price manipulations in penny stocks and pump and dump schemes and to maintain stability …
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The Asian Development Bank has forecast Sri Lanka's economic growth this year not to be favourable although the growth is expected to remain strong similar to performances of the last 2 years. The regional lender said in a recently released report that the pace of expansion for Sri Lanka will be moderate this year partly due to the slower growth …
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US nominee Jim Yong Kim has been chosen as the new president of the World Bank. The Korean-American health expert is president of Dartmouth College in the US state of New Hampshire. He faced a strong challenge for the post, which has traditionally gone to an American, from Nigerian Finance Minister. Dr Kim will succeed Robert Zoellick, serving a …
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The World Bank is expected to announce its new president today. Throughout its 60 year history the bank has been led by Americans. However analysts see the present opening as an opportune moment for Asians to assume the prestigious post. Nominated by President Obama Jim Yong Kim is facing Nigerian Finance Minister Ngozi Okonjo-Iweala in the …
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Facebook has announced it is to buy Instagram - the popular photo-sharing smartphone app. Facebook is paying $1bn in cash and stock for the takeover. Instagram was only launched in October 2010. Facebook's chief executive Mark Zuckerberg has pledged to continue to develop Instagram as a separate brand, allowing it to post to rival networks.
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Inflation in Sri Lanka has accelerated to 5.5 percent in the 12 months to March 2012 up from 2.7 percent in February with the index growing 2.2 percent in the month. Data of the Central Bank indicate that food prices remained stable with the foods index growing just 0.1 percent after falling 1.3 percent a month earlier. Non-food items rose 4.0 …
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