All Blogs
India promises 10-billion-dollar bond purchase: IMF
WASHINGTON, September 5, 2009 (AFP) – The International Monetary Fund on Saturday hailed India’s pledge to buy 10 billion dollars worth of IMF bonds, as top emerging economies pressed for a greater say in running the global economy.“I welcome the announcement by India of its intention to support the Fund’s lending capacity through the purchase […]
Suzuki Motor to build new auto plant in India: report
TOKYO, September 5, 2009 (AFP) – Japan’s Suzuki Motor Corp.plans to build a new plant in India in 2011 in a bid to meet growing demand for cars in the country, a newspaper reported on Saturday. The manufacturer of small cars and motorcycles plans to invest about 30 billion yen (323 million dollars) in construction […]
Sri Lanka expels UN official over war comments
September 6, 2009 (AFP) – The Sri Lankan government said on Sunday it had ordered a senior United Nations official to leave the country over comments he made about the recently ended war against Tamil Tiger separatist rebels. James Elder, spokesman for the United Nations Children’s Fund (UNICEF), appeared regularly on foreign television news channels […]
Sri Lanka roads closed to keep economy stable
Sep 06, 2009 (LBO) – Some of Sri Lanka’s roads will remain closed despite the end of a 30-year civil war to prevent a post-Soviet style collapse of the economy, the island’s prime minister told Thai investors. “It is true the ongoing battle is over but we are still unearthing and finding various things that […]
Sri Lanka imports machines to clear mines
September 5, 2009 (AFP) – Sri Lanka has imported equipment to speed up mine clearing in the former war zone in the island’s north, the defence ministry said Saturday. The mine-clearing machines imported from Slovakia would be used to accelerate resettlement of people driven out of the area during the height of fighting, the ministry […]
Sri Lanka strengthens navy to deter overseas threats
Sept 05, 2009 (LBO) – Sri Lanka’s navy commissioned 90 officers and an offshore patrol vessel last weekend as it continues to expand, having defeated the powerful Tamil Tiger naval wing.Senior defence officials said the navy’s future focus will be on protecting the island’s ocean resources and patrolling the surrounding seas to ensure terrorism, which […]
New Zealand embarrass Sri Lanka again in T20
September 4, 2009 (AFP) – Daniel Vettori’s New Zealand recorded their second Twenty20 success over Sri Lanka in three days with a 22-run victory on Friday that helped them sweep the two-match series. Bond removed the in-form Tillakaratne Dilshan with his fifth ball, caught at deep square leg, before Kyle Mills dismissed Mahela Udawatte and […]
Sri Lanka sovereign bond gets seven bids for lead manager slot
Sept 04, 2009 (LBO) – Seven investment banks have submitted proposals to sell a 500 million US dollar sovereign bond for Sri Lanka in October, the government’s debt office said.The debt office which is a unit of the Central Bank said a committee made up of finance ministry and central; bank officials was now evaluating […]
New Managers
Sept 04, 2009 (LBO) – Sri Lanka’s Asian Finance Ltd, and Ceylinco Investment and Realty Ltd, two firms of the troubled Ceylinco group will be put under a new managing agent, the Central Bank said. MBSL has been asked to “restore their normal business operations to strengthen the viability of the companies,” by the regulator. […]
Indian Interest
Sept 04, 2009 (LBO) – India’s state-run Bharat Sanchar Nigam Ltd (BSNL) is planning to buy Luxembourg-based Millicom International Cellular’s Sri Lanka operations, a media report said.The management committee of BSNL on Wednesday approved a proposal to bid for thee firm, India’s Hindustan Times newspaper said. Millicom International is selling its operations in Sri Lanka, […]