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International rights panel quits Sri Lanka
COLOMBO, March 6, 2008 (AFP) – A top foreign panel invited by Sri Lanka to observe investigations into human rights abuses announced Thursday it was quitting the island and accused Colombo of failing to tackle the issue. The International Independent Group of Eminent Persons (IIGEP), headed by India’s former chief justice P. N. Bhagwati, said […]
”: rights group
COLOMBO, March 6, 2008 (AFP) – Sri Lanka is one of the world’s worst perpetrators of “disappearances” and abductions, Human Rights Watch said Thursday, calling for a UN mission to monitor rights abuses on the island. At least 1,500 people “disappeared” in 2006 and 2007, mostly in the island’s restive north and east, with the […]
Sri Lanka says war losses higher
March 5, 2008 (AFP) – Sri Lanka said Wednesday that 100 of its soldiers were killed and a further 800 wounded fighting the Tamil Tigers last month, showing the escalating conflict is bloodier than previously announced.The casualty figures were given in a statement to the national parliament by Health Minister Nimal Siripala de Silva, and […]
Sri Lanka loan deal to Standard Chartered and Deutsche Bank
March 5, 2008 (LBO) – Standard Chartered and Deutsche Bank has won a deal to raise up to 300 million dollars for Sri Lanka, priced 259 to 370 basis points above London benchmark rates, the government’s debt office said. . Standard Chartered has been mandated to raise 150 million dollars and go up to a […]
Sri Lankan shares lose momentum
Mar 05, 2008 (LBO) – Sri Lankan stocks lost momentum Wednesday with the indices barely managing to maintain the previous day’s gains and trading in York Arcade and John Keells Holdings being the main activity.The All Share Price Index up just 3.98 points to close at 2,566.23 and the more liquid Milanka went up 2.87 […]
Asset Class
Mar 05, 2008 (LBO) – Borrowing for day to day government spending has increased the cost of money for Sri Lankan companies and families struggling to get their first mortgage. A Malaysian economist says experience from his country suggests that the government could start a specialist infrastructure bonds, and create a market among pension funds, […]
Skating Tower
March 05, 2008 (LBO) – Sri Lanka’s Ceylinco Consolidated has inked an agreement with the country’s investment promotion agency to set up its second shopping and apartment complex in the suburbs of Colombo. The 33 million US dollar project, “Realty Tower”, has 18 floors and will be built in the Colombo suburb of Nawala, on […]
Sri Lanka apparel makers struggle to find workers
March 5, 2008 (LBO) – Sri Lanka’s key clothing industry is rolling out a publicity blitz to attract shop floor workers to fill nearly 12,000 vacancies in plants across the island, industry officials said.A 280,000-dollar campaign will hit the local airwaves this week, as a team of recruiters and animators target 150 rural villages to […]
Clinton wins Ohio as McCain claims Republican mantle
COLUMBUS, Ohio, March 4, 2008 (AFP) – Democrat Hillary Clinton vowed to fight all the way to the White House after she checked rival Barack Obama’s momentum in Ohio, while Senator John McCain captured the Republican mantle Tuesday. US networks projected the former first lady would take the economically scarred state of Ohio, but said […]
Dollar slips against euro amidst fresh printing fears
NEW YORK, March 4, 2008 (AFP) – The dollar slipped against the euro Tuesday in the face of fresh inflation fears in the eurozone and a call by the US Federal Reserve chief for tough action to stem US mortgage foreclosures.The single European currency was at 1.5210 dollars around 2200 GMT, up from 1.5203 late […]