All Blogs
Sri Lanka Allianz unit offers title insurance
June 11, 2008 (PBO) “ The Sri Lanka unit of Allianz Insurance said Wednesday it has begun offering title insurance cover for property transactions by individuals and the corporate sector. “Property transactions in Sri Lanka can now have a title insurance cover to fall back on, in case something is wrong with the property’s title,” […]
”s Ranbaxy
TOKYO, June 11, 2008 (AFP) – Japanese pharmaceutical group Daiichi Sankyo Co. said Wednesday that it had agreed to buy a majority stake in India’s top drug company Ranbaxy Laboratories for up to 4.6 billion dollars. The deal reflects growing efforts by the world’s pharmaceutical giants to cope with fierce competition from generic drugmakers based […]
Scanners that see through clothing installed in US airports
NEW YORK, June 10, 2008 (AFP) – Security scanners which can see through passengers’ clothing and reveal details of their body underneath are being installed in 10 US airports, the US Transportation Security Administration said Tuesday.A random selection of travellers getting ready to board airplanes in Washington, New York’s Kennedy, Los Angeles and other key […]
Oil slumps in New York, perks in Asia
SINGAPORE, June 11, 2008 (AFP) – Oil prices rose again in Asia on Wednesday as the world’s biggest oil producers and consumers prepared to meet to discuss record crude prices which have sparked fears for the global economy. New York’s main oil futures contract, light sweet crude for July delivery, was 61 cents higher at […]
‘s torch relay becomes a mystery
BEIJING, June 11, 2008 (AFP) – China’s Olympic torch relay has become a mystery tour, with organisers refusing on Wednesday to disclose the dates of a planned journey though Tibet and other potentially sensitive legs.The torch’s trip through Tibet and other regions of western China where recent deadly unrest by Tibetans occurred was originally scheduled […]
Sri Lanka focuses on education to combat child labour
June 11, 2008 (LBO) – Sri Lanka will mark the World Day Against Child Labour this year on June 12 Thursday with activities to raise awareness about this year’s theme that education is the right response to child labour, the International Labour Organisation said. The ILO has estimated that some 165 million children between the […]
Sri Lanka Hayleys group stake changes hands
June 10, 2008 (LBO) – A six percent stake in Sri Lanka’s Hayleys group owned by Carson and Cumberbatch controlled companies was bought by businessman Dhammika Perera on the Colombo stock exchange Tuesday, brokers said. The Ceylon Investments Company sold a stake in Hayleys amounting to 1,822,632 shares while Ceylon Guardian Investment Trust sold 2,164,358 […]
Debt Tool
June 10, 2008 (LBO) – The Sri Lanka Ports Authority (SLPA) plans to get a credit rating that will enable it to borrow abroad to fund harbour expansion projects and better manage debt repayments, its chairman Saliya Wickramasuriya said. “Our debt portfolio needs to be managed properly. We may need to do some debt swapping. […]
Tight Rates
June 10, 2008 (LBO) – Sri Lanka’s Lanka Orix Leasing Company (LOLC) group said net profits for the year ended March 2008 was up 21 percent with revenue growing 50 percent though rising interest costs trimmed profits at company level. Group net profits rose to 1.26 billion rupees from 1.04 billion, while gross revenues rose […]
Sri Lanka fighting kills another 20: military
June 10, 2008 (AFP) – Fighting across Sri Lanka’s embattled northern region left at least 18 Tamil Tigers and two soldiers dead, the defence ministry said Tuesday.Monday’s fighting in the regions of Mannar and Vavuniya also wounded 10 Tiger rebels and 18 government troopers, the ministry said. However, the Liberation Tigers of Tamil Eelam (LTTE) […]