All Blogs
Sri Lanka leader urges diaspora to return
Feb 04, 2009 (LBO) – President Mahinda Rajapaksa has urged Sri Lankans who left the island because of war to return to help rebuild the nation and revive its economy, saying Tiger terrorism was about to be completely crushed. “You must show respect to all communities,” Rajapaksa said. “The future belongs to those who sow […]
” in Sri Lanka
WASHINGTON, February 3, 2009 (AFP) – US Secretary of State Hillary Clinton and her British counterpart David Miliband called here Tuesday for a “temporary no-fire period” in Sri Lanka to evacuate casualties and allow in relief.“Secretary Clinton and Foreign Secretary Miliband call on both the government of Sri Lanka and the LTTE (Liberation Tigers of […]
Sri Lanka bill yields edge up
Feb 03, 2009 (LBO) – Sri Lanka’s Treasury bill yields edged up at Tuesday’s auction with a larger volume of bills being sold compared to a week earlier, the government’s debt office said, reversing a steadily easing trend seen over several weeks.The 3-month yield gained 05 basis points to 15.99 percent, the 6-month yield gained […]
Sri Lanka stocks down again
Feb 03, 2009 (LBO) – Sri Lankan shares were dragged down again Tuesday by losses in index heavy stocks with earnings that companies have begun to report for the December quarter being mostly poor as anticipated, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The […]
Support Package
Feb 03, 2009 (LBO) – Sri Lanka is developing a policy support package for registered finance and leasing companies that are facing liquidity problems, the Central Bank said. The Central Bank intervened to stop a run on Seylan Bank, dissolved its board of directors and put the bank under state-run Bank of Ceylon. Depositors says […]
Ambiguity
Feb 03, 2008 (LBO) – Sri Lanka’s Commercial Bank says the ‘ambiguity’ behind a suspension of payments on oil derivatives sold to state-run Ceylon Petroleum Corporation (CPC) is causing uncertainty, and leaving it in a tight position. “Unless there is a strict instruction by the regulator we feel that we have to honor the counterparties […]
Sri Lanka Galle Face group to build resort on Maldive island
Feb 03, 2009 (LBO) – Sri Lanka’s Galle Face Hotels Group plans to build a 100-room luxury resort hotel on an atoll in the Maldivian archipelago, a senior official said.The new hotel is sited on an uninhabited island which also has a domestic airport.and airport buildings. The new Maldivian president Mohamed Nasheed, during his recent […]
Cheap PC
NEW DELHI, February 3, 2009 (AFP) – India has unveiled plans to produce a laptop computer costing just 10 dollars in a bid to improve the skills of millions of students across the country. New Delhi rebuffed a previous attempt to bring cheap laptops to India, led by MIT computer scientist Nicholas Negroponte’s One Laptop […]
Trading Deal
Feb 03, 2009 (LBO) – Sri Lankan software firm Millennium IT said it has won the contract to provide the trading platform for India’s new International Multi-Commodity Exchange (IMX). The exchange is expected to go live in the first quarter of the next financial year, subject to regulatory approvals, according to a statement by Indiabulls […]
Australian man caught with pigeons in trousers
MELBOURNE, February 3, 2009 (AFP) – An Australian man was caught with two live pigeons stuffed in his trousers as he got off a flight from the Middle East, authorities said Tuesday. Customs officers body-searched the 23-year-old after he was allegedly found with two bird eggs in a vitamin container in his pocket during baggage […]