All Blogs
Sri Lanka coalition partner returns to opposition – Updated
Dec 12, 2007 (LBO) – Members of a key Sri Lankan minority party crossed over to the opposition Wednesday increasing uncertainty over the fate of the ruling coalition ahead of a crucial budget vote. The other members of the SLMC who crossed over were SLMC General Secretary Hassan Ali, Basheer Sagudawood, and Faisal Kassim, who […]
Sri Lanka inflation index controversy takes new turn
Dec 12, 2007 (LBO) – A controversial new inflation index that claims to show lower inflation in Sri Lanka has completely dropped alcohol and tobacco from its market basket, an official statement has revealed. An official statement from the Central Bank’s statistics department said the existing Colombo Consumer Price Index (CCPI) does not accurately represent […]
Top Rating
Dec 11, 2007 (LBO) – Fitch Sri Lanka has confirmed John Keells Holdings (JKH) national ‘AAA (lka)’ rating with a stable outlook, but expressed concern that most of its cash is generated by bunkering and container operations. “JKH’s ratings reflect its strong cash flow generation and increasing earnings diversity,” Fitch said. But the rating agency […]
Sri Lanka Ceylon Glass new plant starts production
Dec 11, 2007 (LBO) – Ceylon Glass Company (CGC) has begun production at its new plant in Horana, south of the capital Colombo, which can meet Sri Lanka’s entire demand for glass containers and export as well. Ceylon Glass chief executive Sanjay Tiwari said the second production line would start next week and that they […]
ADB lends US$300mn to develop Indonesian capital markets
MANILA, Dec 11, 2007 (AFP) – Indonesia will borrow 300 million dollars from the Asian Development Bank to develop the country’s capital markets, the Philippines-based lender said Tuesday. The programme would promote transparency and information disclosure in capital markets, enabling market valuation of fixed-income instruments, an ADB statement said. Jakarta has undertaken financial sector reforms […]
” Briton charged with deception
LONDON, Dec 11, 2007 (AFP) – The wife of a man who resurfaced after being presumed dead for more than five years was set to appear in court on Tuesday charged with two counts of deception. Anne Darwin, a 55-year-old former doctor’s surgery receptionist, will appear in Hartlepool Magistrates Court, where her husband John, 57, […]
Jayawardene, Vandort frustrate England
COLOMBO, Dec 11, 2007 (AFP) – Sri Lankan captain Mahela Jayawardene and Michael Vandort put on 178 for the unbroken third wicket to keep England at bay in the second cricket Test here on Tuesday. Sri Lanka, replying to England’s first innings total of 351, emerged unscathed from the morning session on the third day […]
Maldives opposition push for interim govt. ahead of polls
COLOMBO December 11, 2007 (LBO) — Five Maldivian opposition parties Tuesday urged President Maumoon Abdul Gayoom to put in place an interim government ahead of the archipelago’s first multi-party polls next year, officials said. “We are urging the international community to support us, to support our cause for democratic reforms,” former Maldivian foreign minister Ahmed […]
Sri Lankan parliamentarians can be bought, says British envoy
Dec 11, 2007 (LBO) – Britain’s envoy in Sri Lanka has mocked the practice of a parliamentary committee to probe corruption dominated by government ministers, saying many lawmakers have been given positions to buy their loyalty. “It must be the only oversight committee in the world that consists mainly of ministers,” British High Commissioner Dominick […]
Britain puts Sri Lanka on notice over rights
Dec 10, 2007 (AFP) – Britain’s top envoy to Sri Lanka Monday asked the government to improve its human rights record and politically end the island’s drawn out Tamil separatist conflict or risk international sanctions. British High Commissioner (ambassador) Dominick Chilcott said the UK had a direct interest in ending the conflict in its former […]