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” in hard times
July 01, 2008 (LBO) – Sri Lanka must now switch to an “investment driven economy” with businesses and people ‘going lean’ to survive and come out of the difficult times the island is going through, a productivity expert said. Lean production and working methods will help increase productivity and the standard of living as well […]
Sri Lanka British embassy land; gentry wanted
July 01, 2008 (LBO) – The former British High Commission property in Sri Lanka is for sale with the owners preferring the highest bidder to have a high pedigree as well, the auctioneers said. This could value the deal as much as 2.5 billion rupees, making it the single largest land auction in the island.The […]
Sri Lankan shares end weaker
June 30, 2008 (LBO) – Sri Lanka’s shares ended weaker Monday with Diesel & Motor Engineering (DIMO) and Vallibel Power Erathna being among the most actively traded stocks, brokers said. The all share price index fell 0.51 percent (12.59 points) to 2,457.84 while the more liquid Milanka price index was down 0.40 percent (12.05 points) […]
Shipping Risk
June 30, 2008 (LBO) – The Sri Lankan government is considering establishing a fund based on a levy charged from merchant vessels to handle emergencies caused by oil spills, a senior official said. Marine Pollution Prevention Authority (MPPA) chairman Ranjit Kularatne said the potential for oil spills caused by ship accidents is very high given […]
Sri Lanka tourism gets World Bank support
June 30, 2008 (LBO) – The World Bank has agreed to provide funds to the Sri Lankan government for a tourism initiative among small entrepreneurs and rural communities, the Ministry of Tourism said in a statement. The assurance of support came after talks by Tourism Minister Milinda Moragoda with Wold Bank officials in Washington DC, […]
Sri Lanka Aitken Spence Maldivian water villas named the best
June 30, 2008 (LBO) – Sri Lanka’s Aitken Spence conglomerate has won an award for the best water villas in the Maldivian atolls, the company said. Aitken Spence’s Adaaran ˜Prestige’ Water Villas in the Maldives won the ˜Maldives Leading Water Villas’ award at the World Travel Awards Asia and Indian Ocean Ceremony held in Shanghai. […]
Sri Lanka army chief says needs a year to beat Tigers
June 30, 2008 (AFP) – Sri Lanka’s army chief said Monday his forces have wiped out the conventional military capability of the Tamil Tigers, but that they needed another year to totally defeat the rebels. Lieutenant General Sarath Fonseka said the Liberation Tigers of Tamil Eelam (LTTE) guerrillas were no longer able to resist security […]
Euro jumps against US currency, oil surges past 143 dollars
LONDON, June 30, 2008 (AFP) – The euro rose against the dollar on Monday as oil prices rocketed past 143 dollars per barrel for the first time, while traders awaited this week’s expected rate rise from the European Central Bank. The European single currency rose to 1.5823 dollars in morning London trading from 1.5775 dollars […]
Emerging markets vulnerable to US slowdown – BIS
BASEL, June 30, 2008 (AFP) – Emerging markets, which economists say are able to withstand the current financial crisis, could still be hurt by an economic slowdown in the United States, the world’s top forum of central bankers warned Monday.The Bank for International Settlements said in its annual report that the United States remained a […]
Kenya needs one billion dollars to address food crisis
NAIROBI, June 30, 2008 (AFP) – Kenya needs 72 billion shillings (1.1 billion dollars or 708 million euros) in emergency funding to counter a food crisis that has helped drive inflation to over 30 percent, an official said.“We urgently need the funds in the next three months to address immediate needs and mitigate the current […]