All Blogs
Southern Anchorage
June 20, 2008 (LBO) – The Sri Lanka Ports Authority has called for bids to build a new port in southern Galle, next to the existing harbour, an official said. The main commodity handled by the existing Galle harbour is cement. In the project’s second phase, a large leisure component will be introduced with a […]
Tata Track
June 20, 2008 (LBO) – High inflation and interest rates have hit auto sales in Sri Lanka but the market for Indian made Tata vehicles remains strong, the brand’s agents, Diesel and Motor Engineering Company (DIMO) said.“We do not find them (Chinese imports) as a threat because people need to have spares, reach and service […]
Soft Cup
June 20, 2008 (LBO) – An environmental short film by a team from Sri Lanka made it to the top six in Microsoft’s Imagine Cup competition finals, which would be held in July in Paris this year, the firm’s local office said. Sri Lanka’s ˜Team Gènès|pictures’was able to qualify for the finals of the Microsoft […]
Sri Lanka clashes kill 29: military
June 20, 2008 (AFP) – At least 26 Tamil Tiger guerrillas and three government soldiers have been killed in clashes across Sri Lanka’s northern regions, the defence ministry said Friday.Confrontations in the districts of Jaffna, Mannar, Vavuniya and Mullaitivu since Thursday killed 26 rebels, the ministry said, adding that 47 guerrillas were also believed to […]
Blackouts in Sri Lanka as power engineers work-to-rule
June 20, 2008 (LBO) – Parts of Sri Lanka blacked out Friday night as engineers at Sri Lanka’s power utility worked-to-rule, demanding the ouster of the state-run organization’s chairman, even as negotiations began with senior government officials. The Ceylon Electricity Board Engineers Union (CEBEU) had discussions with Sri Lanka President Mahinda Rajapaksa’s brother Basil and […]
‘s inflation rate surges to 11.05 pct
NEW DELHI, June 20, 2008 (AFP) – India’s annual inflation rate accelerated to 11.05 percent, its highest level in 13 years, according to data on Friday, piling pressure on the government as general elections loom. Inflation jumped by more than two percentage points to hit 11.05 percent for the week ended June 7 from 8.75 […]
Oil bubble wobbles; new excuse given
NEW YORK, June 19, 2008 (AFP) – Oil prices slumped Thursday after Saudi Arabia said it planned to boost daily output by 200,000 barrels to help cool record-breaking energy costs which are hurting consumers globally. The world’s biggest exporter of crude oil said it would ramp up daily crude production to 9.65 million barrels per […]
Sri Lanka private sector credit slows, spike in state credit
June 20, 2008 (LBO) – Sri Lanka’s private sector credit had slowed to 15.1 percent by April 2008 following tight monetary policy, though state credit had spiked in that month, but inflation would slow after July, the Central Bank said. Till August 2007, credit to private sector has been growing at a rate of 25 […]
Not Correct
HONG KONG, June 18, 2008 (AFP) – China has no plans to try and dominate the shipping lanes of the Indian Ocean, its ambassador to India said in Hong Kong Wednesday. “We don’t have such an intention to establish a chain to encircle India,” said ambassador Zhang Yan at a lunch held by the Asia […]
Banking Synergy
June 19, 2008 (LBO) – Sri Lanka’s Hatton National Bank (HNB) and DFCC Bank have set up a joint venture investment bank that they said would be better able to compete in local and regional markets. The joint venture called Acuity Partners (Pvt) Ltd., with an initial capital of 500 million rupees, will see the […]