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Literary Climate
Dec 21, 2007 (LBO) – Sri Lanka’s second international literary festival in Galle next year will focus on the theme climate change and would reach out to get a new generation interested in English, its organizers said. The Galle festival was named as one of the best literary festivals in the world, by the American […]
Banished Sri Lankan air chief to run firm from Dubai
Dec 21, 2007 (LBO) – SriLankan Airlines chief Peter Hill would continue to run the airline from Dubai after his resident visa in the island was revoked by the government, managing shareholder Emirates Airlines said. SriLankan Airlines is 43.6 percent owned by Dubai-based Emirates air, and Hill was seconded to the airline in 1998 after […]
Sri Lanka insurers may escape sweeping downgrades over govt. move: Fitch
Dec 21, 2007 (LBO) – Fitch Ratings says Sri Lankan insurance firms may avoid sweeping downgrades after the government partially rolled back plans to force firms to re-insure with the state. “It is now envisaged that no insurance ratings in Sri Lanka will be affected by the introduction of the fund.” Sri Lanka only has […]
Spurned Tatas want apology from Orient-Express hotels
NEW DELHI, Dec 20, 2007 (AFP) – India’s Tata Group has demanded an apology from US-listed luxury hotel chain Orient-Express for rejecting its offer for a strategic tie-up on the grounds that its brand value might be diluted.Assocham, an Indian chambers of commerce body, slammed Orient-Express’s rebuff as one of “arrogance toward one of India’s […]
No play after lunch in England-Sri Lanka Test
GALLE, Sri Lanka, Dec 21, 2007 (AFP) – A heavy downpour that began at the lunch interval washed out the afternoon session on the fourth day of the third and final cricket Test between England and Sri Lanka here on Friday. Continued wet weather has been forecast for the next 48 hours. The ground was […]
Cook keeps England afloat in Sri Lanka Test
GALLE, Sri Lanka, Dec 21, 2007 (AFP) – Alastair Cook hit an unbeaten half-century as England began a long vigil to avoid defeat in the third and final Test against Sri Lanka here on Friday.The tourists, following on 418 runs behind after being dismissed for a new low of 81 against Sri Lanka in the […]
” England play in Sri Lanka
LONDON, Dec 21, 2007 (AFP) – After a dismal performance at the crease on Thursday in Galle, Sri Lanka, where they were bowled out for just 81 in the final match in the three-Test series, England’s cricketers will not want to eye the British newspapers. Described as “pathetic” and “spineless”, England were blasted in Friday […]
Sri Lanka claims killing 12 Tamil Tiger rebels
Dec 21, 2007 (AFP) – Clashes across frontlines in northern Sri Lanka have left at least 12 Tamil Tiger rebels dead, the defence ministry said Friday.Artillery duels took place on the Jaffna peninsula, and in Weli Oya, Vavuniya and Mannar, the military said, placing their own losses at two soldiers injured and one missing during […]
Sri Lanka rupee closes higher on equity flows; money spikes
Dec 20, 2007 (LBO) – The Sri Lanka rupee closed higher against the greenback as money spiked in tight conditions Thursday, while the state debt office was again fishing for cash with short term bills offers, dealers said. Reserve money on Thursday was 270.4 billion rupees, marginally higher than the year-end target. Stocks closed marginally […]
Financial Health
Dec 20, 2007 (LBO) – Sri Lanka’s financial sector has so far been resilient in the face of shocks but risks are increasing as the economy heads for tough times, the International Monetary Fund (IMF) has warned. Rising interest rates likely to affect profitability of banks while credit quality is weakening as a result of […]