All Blogs
Shareholder activist quits Hong Kong exchange board over governance
HONG KONG, May 16, 2008 (AFP) – Hong Kong’s leading shareholder activist has quit the board of the city’s stock exchange, accusing it of being under the influence of politicians and compromising its listing standards.David Webb, who has been a constant critic of government interference on the exchange operator, Hong Kong Exchange and Clearing, resigned […]
‘s economy grows briskly despite credit woes
TOKYO, May 16, 2008 (AFP) – Japan’s economy grew at a faster than expected 3.3 percent annualised pace in the first quarter of 2008 despite a global credit crunch and US economic slowdown, official figures showed Friday.The world’s second-largest economy remained in sound health as robust exports to China and other emerging markets offset weaker […]
Booming Singapore luring SAsia, Thai construction workers
SINGAPORE, May 16, 2008 (AFP) – T. Junardhan is helping to install the plumbing at a luxury shopping and residential tower rising in Singapore’s prime Orchard Road tourist belt. He can also balance your books if the need arises. Junardhan, an Indian with a degree in accountancy, is one of almost 150,000 foreigners labouring in […]
EU urges agreement on WTO trade talks before US election
LIMA, May 15, 2008 (AFP) – EU Trade Commissioner Peter Mandelson on Thursday urged a quick draft agreement on the direction of global trade talks underway in Geneva before US elections in November closed “the window of opportunity.” Negotiating papers in the so-called Doha Round were to be published next week and Europe and developing […]
Sri Lanka former Tamil Tiger becomes provincial chief minister
May 16, 2008 (LBO) – A former Tamil Tiger who broke away and later allied himself with the government was Friday sworn in as the chief minister of the island’s eastern province following last week’s polls. Sivanesathurai Chandrakanthan, also known as Pillayan, was sworn in as chief minister of the eastern provincial council by President […]
Sri Lanka to re-issue forex bonds in US dollars and euros
May 15, 2008 (LBO) – Sri Lanka has started the process of re-selling a maturing 250 million dollar bond issue targeted at resident investors by calling for agents to market and sell the bond. Sri Lanka is expected to wrap up a 150 million dollar 3-year loan arranged by Standard Chartered Bank this month, with […]
Port Contract
May 15, 2008 (LBO) – Sri Lanka has approved the award of a 46 million euro contract for a Denmark based firm to build a port in the eastern coast of the island, a senior minister said. The cabinet of ministers had given the go ahead for MT Hojgaard to build a port in the […]
Outstation Opportunity
May 15, 2008 (LBO) – Bartleet Finance, part of Sri Lanka’s Bartleet group, is considering setting up a branch in northern Jaffna and expanding in rural areas where officials say there is much potential. Managing director Susantha Fernando said the firm faced difficulties this year because of soaring interest rates but believes rates have now […]
Merchant Rating
May 15, 2008 (LBO) – RAM Ratings has confirmed Merchant Bank of Sri Lanka’s (MBSL) long-term local rating of AA- with a stable outlook, saying the rating is supported by state-run Bank of Ceylon, its parent. RAM also confirmed MBSL’s short term rating of P1 and the AA rating assigned to unlisted debentures of 300 […]
LBR-LBO CEO Forum
May 15, 2008 (LBO) – Strategy in business continuously changes and businesses must plan and adopt strategies by studying key market components for better results, a top Sri Lanka business executive said. When executing strategy, companies must understand their consumer, competitors, the role of the economy, the supply side and distribution lines in relation to […]