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Sri Lanka to debate troubled state airline, public officer: lawmaker
Sept 16, 2008 (LBO) – Sri Lanka’s parliament will debate the issues of a state-run budget airline that has been eating up peoples’ money and a senior public official who was faulted by courts, an opposition lawmaker said. Jayasundera immediately offered to resign but the government has not accepted his resignation. Sri Lanka’s controversial Mihin […]
EU voices concerned over Sri Lanka violence
BRUSSELS, September 15, 2008 (AFP) – EU Humanitarian Aid Commissioner Louis Michel on Monday expressed “grave concern” at the escalation of violence in Sri Lanka and called for human rights laws to be respected. Civilians should also be guaranteed safe passage to leave the conflict area “and relocate in safer areas,” he added. “I’m deeply […]
Sri Lanka gets extra funds for roads, education, housing: World Bank
Sept 09, 2008 (LBO) – The World Bank has inked deals worth 151 million dollars to lend extra money for road, education and housing reconstruction in conflict-hit areas of Sri Lanka, the multilateral lender said.World Bank country chief Naoko Ishii said the additional financing will support the growth of infrastructure in lagging regions, the return […]
Sri Lanka to get more concessionary funds: ADB
Sept 16, 2008 (LBO) – Sri Lanka would get more than 200 million US dollars a year from the Asian Development Bank (ADB) over the next three years and the country would get more money from its concessionary window, an official said. The ADB’s country partnership strategy, which outlines its lending program for the island […]
Sri Lanka raises US$60mn in 2-year bonds
Sept 15, 2008 (LBO) – Sri Lanka has raised 60 million US dollars in 2-year bonds at a premium of 2.895 percent above the London Interbank Offered Rate (LIBOR) to help repay a maturing 70 million US dollar bond issue, the government’s debt office said.The Central Bank said the money would go to settle a […]
Bunker Losses
Sept 15, 2008 (LBO) – Sri Lanka’s John Keells Holdings says its bunkering unit lost 20 million rupees (184,000 US dollars), because it was unable to remove all oil stocks by a court deadline of September 12, after it was ordered to vacate a tank farm.The company said oil stocks valued 45 million rupees (416,000 […]
New Printing
FRANKFURT, September 15, 2008 (AFP) – The European Central Bank (ECB) and the Bank of England (BoE) poured billions into money markets on Monday to ensure sufficient liquidity in the wake of the collapse of Lehman Brothers.He said he thought the Fed would try to avoid this step, which would be a “reversal of the […]
Latest Blow
WASHINGTON, September 15, 2008 (AFP) – US investment giant Lehman Brothers announced its bankruptcy early Monday as the Federal Reserve and major global banks moved to shore up financial market shaken by the housing and mortgage crisis.The Wall Street Journal warned in an editorial Monday that Americans should brace themselves for “a very rough Monday.” […]
Sri Lanka Taj unit gets new manager
Sept 15, 2008 (LBO) – India’s Taj Group says it has appointed a new manager to the 120-room Taj Airport Garden Hotel in Seeduwa, north of the Sri Lankan capital Colombo, which is one of three hotels run by the group in the island. Mathew C Thomas has taken over as general manager from Sanjay […]
‘s Colombo University to teach farmers online
Sept 15, 2008 (LBO) – Sri Lanka’s University of Colombo is starting an online agro technology degree program for rural farmers, with a pilot project already showing spectacular results, a senior academic said. The university will first start a certificate level course leading to a diploma and eventually a Bachelor of Science (B.Sc) degree. Each […]