Multi-threading is possible in php

Yes you can do multi-threading in PHP with pthreads

From the PHP documentation:

pthreads is an object-orientated API that provides all of the tools needed for multi-threading in PHP. PHP applications can create, read, write, execute and synchronize with Threads, Workers and Threaded objects.

Warning: The pthreads extension cannot be used in a web server environment. Threading in PHP should therefore remain to CLI-based applications only.

Simple Test

#!/usr/bin/php
<?php
class AsyncOperation extends Thread {

    public function __construct($arg) {
        $this->arg = $arg;
    }

    public function run() {
        if ($this->arg) {
            $sleep = mt_rand(1, 10);
            printf('%s: %s  -start -sleeps %d' . "\n", date("g:i:sa"), $this->arg, $sleep);
            sleep($sleep);
            printf('%s: %s  -finish' . "\n", date("g:i:sa"), $this->arg);
        }
    }
}

// Create a array
$stack = array();

//Initiate Multiple Thread
foreach ( range("A", "D") as $i ) {
    $stack[] = new AsyncOperation($i);
}

// Start The Threads
foreach ( $stack as $t ) {
    $t->start();
}

?>

First Run

12:00:06pm:     A  -start -sleeps 5
12:00:06pm:     B  -start -sleeps 3
12:00:06pm:     C  -start -sleeps 10
12:00:06pm:     D  -start -sleeps 2
12:00:08pm:     D  -finish
12:00:09pm:     B  -finish
12:00:11pm:     A  -finish
12:00:16pm:     C  -finish

Second Run

12:01:36pm:     A  -start -sleeps 6
12:01:36pm:     B  -start -sleeps 1
12:01:36pm:     C  -start -sleeps 2
12:01:36pm:     D  -start -sleeps 1
12:01:37pm:     B  -finish
12:01:37pm:     D  -finish
12:01:38pm:     C  -finish
12:01:42pm:     A  -finish

Real World Example

error_reporting(E_ALL);
class AsyncWebRequest extends Thread {
    public $url;
    public $data;

    public function __construct($url) {
        $this->url = $url;
    }

    public function run() {
        if (($url = $this->url)) {
            /*
             * If a large amount of data is being requested, you might want to
             * fsockopen and read using usleep in between reads
             */
            $this->data = file_get_contents($url);
        } else
            printf("Thread #%lu was not provided a URL\n", $this->getThreadId());
    }
}

$t = microtime(true);
$g = new AsyncWebRequest(sprintf("http://www.google.com/?q=%s", rand() * 10));
/* starting synchronization */
if ($g->start()) {
    printf("Request took %f seconds to start ", microtime(true) - $t);
    while ( $g->isRunning() ) {
        echo ".";
        usleep(100);
    }
    if ($g->join()) {
        printf(" and %f seconds to finish receiving %d bytes\n", microtime(true) - $t, strlen($g->data));
    } else
        printf(" and %f seconds to finish, request failed\n", microtime(true) - $t);
}

Several tips:

1. Put inserts/updates in a transaction.
2. For older versions of SQLite - Consider a less paranoid journal mode (pragma journal_mode). There is NORMAL, and then there is OFF, which can significantly increase insert speed if you're not too worried about the database possibly getting corrupted if the OS crashes. If your application crashes the data should be fine. Note that in newer versions, the OFF/MEMORY settings are not safe for application level crashes.
3. Playing with page sizes makes a difference as well (PRAGMA page_size). Having larger page sizes can make reads and writes go a bit faster as larger pages are held in memory. Note that more memory will be used for your database.
4. If you have indices, consider calling CREATE INDEX after doing all your inserts. This is significantly faster than creating the index and then doing your inserts.
5. You have to be quite careful if you have concurrent access to SQLite, as the whole database is locked when writes are done, and although multiple readers are possible, writes will be locked out. This has been improved somewhat with the addition of a WAL in newer SQLite versions.
6. Take advantage of saving space...smaller databases go faster. For instance, if you have key value pairs, try making the key an INTEGER PRIMARY KEY if possible, which will replace the implied unique row number column in the table.
7. If you are using multiple threads, you can try using the shared page cache, which will allow loaded pages to be shared between threads, which can avoid expensive I/O calls.
8. Don't use !feof(file)!

I've also asked similar questions here and here.