All Blogs
Sri Lanka to get new government office complex
Aug 08, 2008 (LBO) – Sri Lanka’s trade ministry and the urban development authority plan to build a 15-story government complex in the suburb of Rajagiriya, just outside the capital Colombo, ministry secretary R M K Ratnayake said.The cost of the project will be around three billion rupees which will be allocated by the state […]
Sri Lanka central bank says interest rates easing
Aug 08, 2008 (LBO) – Sri Lanka’s central bank has said interest rates on benchmark government securities had begun to ease with the opening up of the market to foreign investors, continued liquidity and lower inflation expectations. “In line with the rate reduction in the primary market, the secondary market yield curve that represents the […]
Sri Lankan shares fall, Arisaig Fund sells stake in Richard Pieris
Aug 07, 2008 (LBO) – Sri Lankan shares ended weaker Thursday but turnover was pumped up by the sale of a big stake in Richard Pieris & Co held by Arisaig India Fund, brokers said. “It’s only the company’s plantations which are doing well,” he said. “Also, Richard Pieris is a highly geared company, having […]
New Money
Aug 07, 2007 (LBO) – Sri Lanka is negotiating additional funds to re-start work on a section of a highway to the island’s south that is now suspended, but the first part is on track for completion by 2010, a top official said.The head of the island’s road development authority R W Pemasiri says negotiations […]
Sri Lanka to more than double spending on fertilizer subsidy
Aug 07, 2008 (LBO) – Sri Lanka has decided to spend at extra 25 billion rupees (230 million US dollars) on a politically important fertilizer subsidy, a senior minister said, as the country is seeking commercial funding for vital infrastructure projects.In the fiscal budget for 2008, Sri Lanka allocated 15 billion rupees for fertilizer subsidies, […]
Domestic Help
KUALA LUMPUR, August 7, 2008 (AFP) – Malaysian women will be encouraged to train as domestic helpers, in a government programme aimed at reducing the country’s dependency on foreign workers, reports said Thursday. Women and Community Development Minister Ng Yen Yen said the course would give instruction in managing the home and caring for children […]
Sri Lanka blamed for serious security lapse at South Asian summit
August 07, 2008 (AFP) – India said there had been serious security lapses during a visit to Sri Lanka by Prime Minister Manmohan Singh despite the island nation’s promise of “ultimate security.” The Sri Lankan bodyguard assigned to protect Singh did not turn up during a regional summit last weekend, while the motorcade for India’s […]
Sri Lanka business chamber touts virtues of Indian trade deal
Aug 07, 2008 (LBO) – A Sri Lankan business chamber has said the proposed new trade deal with India would give businesses an opportunity to penetrate the rapidly expanding Indian market and offer protection against trade barriers.The Ceylon Chamber of Commerce said it welcomes the expansion of the current Free Trade Agreement (FTA) with India […]
India completes key trade road in Afghanistan
KABUL, August 07, 2008 (AFP) – India has almost completed a key road linking Afghanistan to Iranian sea ports despite Taliban attacks that claimed more than 100 lives in two years, the deputy public works minister said.The 217-kilometre (134-mile) route connects a nearly completed ring road around Afghanistan to the Iranian port cities of Bandar-i-Abas […]
German insurer Allianz warns on profits after weak second quarter
FRANKFURT, August 7, 2008 (AFP) – Shares in the German insurance group Allianz plunged on Thursday after the group warned that it would not reach its operating profit target going into 2009 following a difficult second quarter.Allianz shares showed a loss of 3.52 percent to 109 euros in initial trading on the Frankfurt stock exchange […]