All Blogs
Umpire sorry for giving Sangakkara out, says skipper
HOBART, Australia, Nov 20, 2007 (AFP) – South African umpire Rudi Koertzen apologised to Kumar Sangakkara for giving him out in controversial circumstances within sight of his seventh Test double-century here Tuesday. The star batsman was stunned when Koertzen gave him out to a catch by Ricky Ponting, which effectively ended Sri Lanka’s remote chances […]
Sri Lankan Tamil journalist abducted: rights group
Nov 20, 2007 (AFP) – A media rights group on Tuesday asked the government to help find a Sri Lankan Tamil journalist based in embattled Jaffna who it believed was kidnapped by paramilitary forces. Vadivel Nimalarajah, a proof reader with the Jaffna-based Uthayan newspaper, was “abducted by an unidentified group” in the state-controlled northern town […]
Sri Lanka Central Bank rejects gold reserve sale charges as criticism mounts
Nov 20, 2007 (LBO) – Sri Lanka’s Central Bank has rejected allegations it had sold tonnes of gold reserves to fund government expenditure in recent months, while criticism mounts on the way foreign reserves are used by the authorities. It said in a statement that a fake letter was circulating that it had sold 7,000 […]
Sri Lanka to appoint town planners to all local bodies
Nov 20, 2007 (LBO) – Sri Lanka has decided to appoint professional town planners to all local government bodies in a move that will speed up approvals and reduce corruption, officials said. The number of town planners in these bodies today is woefully inadequate, resulting in delays in getting approvals for building permits and payment […]
Sri Lanka inequality on the rise despite growth: UNDP
Nov 20, 2007 (LBO) – Inequality is on the rise in Sri Lanka despite the island making much progress in economic development, an international expert said. Overall progress in Sri Lanka has been concentrated in the western province and hides wide regional income disparities, said Neil Buhne, UN Resident Coordinator, Sri Lanka. There were pockets […]
Sri Lanka central bank promises vigilance over liquidity as inflation rages
Nov 20, 2007 (LBO) – Sri Lanka’s central bank said it is countering a liquidity shock to the monetary system from a dollar bond issue, though policy rates frozen at 12.0 percent remained negative compared to raging 19.6 percent inflation. A sudden conversion of 500 million dollars worth state borrowings in late October drove up […]
Lease Rate
Nov 19, 2007 (LBO) – Fitch Ratings Lanka said Friday it has confirmed the ‘BB+(lka)’ National Long-term rating of Seylan Merchant Leasing Limited (SML). The Outlook on the rating is Stable. “SML’s rating reflects its modest financial profile, short operating history and limited revenue diversity,” Fitch Ratings said. “The rating also factors in the implied […]
Tele Rating
Nov 19, 2007 (LBO) – Fitch Ratings has confirmed Sri Lanka Telecom’s BB- rating with a negative outlook and its AAA (lka) national rating with a stable outlook, the agency said Monday. “SLT’s ratings reflect the company’s strong positive free cash flow generation, its strong and improving financial profile and entrenched market position,” the rating […]
Lite Ceiling
Nov 19, 2007 (LBO) – The piercing of the sovereign ceiling by a Sri Lankan telco has raised hopes of better credit ratings for the country’s top companies, which have been saddled with junk ratings due the parlous state of the government’s own finances. Last week, S&P upgraded the credit rating of Sri Lanka Telecom […]
Fashion Queen
Nov 19, 2007 (LBO) – British fashion queen Jane Shepherdson is planning a new venture, the former Topshop brand director said on a visit to Sri Lanka, which is fast becoming a centre for high-end apparel manufacture. “I™m planning to start a new business soon, that is all I can say, she told LBO. Shepherdson […]