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‘s Union Assurance doubles earnings
Nov 15, 2007 (LBO) – Sri Lanka’s Union Assurance said net profit for the September quarter shot up 107 percent year-on-year to 29.6 million rupees. . General and life insurance premiums for the quarter grew by 17 percent to 1.1 billon rupees from 971 million rupees in 2006, according to interim results announced by the […]
Sri Lanka Tamil charity asset frozen by US for terror funding
Nov 15, 2007 (LBO) – The United States has frozen the assets of the Tamils Rehabilitation Organization (TRO) for raising funds and buying arms for the Tamil Tigers, which is a designated terrorist organization, the US embassy in Colombo said. “In the United States, the TRO has raised funds on behalf of the LTTE [Liberation […]
‘s economy 40 percent smaller than estimated: analyst
WASHINGTON, Nov 15, 2007 (AFP) – China’s economy is 40 percent smaller than most recent estimates, a US economist said Wednesday, citing data from the Asian Development Bank and guidelines from the World Bank.That effort is “still very much work in progress,” he said.“It’s too early to tell what the final implications will be.” Albert […]
Drunk Briton fined for Singapore air rage
SINGAPORE, Nov 15, 2007 (AFP) – A British man was fined 3,472 US dollars in a Singapore court after he pleaded guilty to abusive behaviour during a flight from London, a court official said Thursday. Gareth Gaudion admitted in court Wednesday that he was drunk and abused the Singapore Airlines crew during the November 2 […]
‘s rebel league
NEW DELHI, Nov 14, 2007 (AFP) – Former Test captains Brian Lara and Inzamam-ul Haq were on Wednesday confirmed to play in India’s rebel Twenty20 league following a goof-up over players’ lists.The names of Lara and Inzamam, touted as star attractions of the Indian Cricket League (ICL), were missing when the six teams for the […]
Impractical to peg Hong Kong dollar to yuan: monetary authority
WASHINGTON, Nov 14, 2007 (AFP) – Hong Kong’s de facto central bank on Wednesday dismissed suggestions that the Hong Kong dollar, which is at present pegged to the US dollar, be repegged to the Chinese yuan currency. It is impractical and does not make economic sense, Eddie Yue, the deputy chief executive of the Hong […]
Sri Lanka political crossovers shake government ahead of budget vote
Nov 15, 2007 (LBO) – A Sri Lankan junior cabinet minister Thursday lashed out at an opposition party lawmaker who joined the government, revealing more cracks in the ruling coalition ahead of a crucial budget vote next week. Minister of Justice Dilan Perera, a so-called ‘non-cabinet’ minister in President Mahinda Rajapakse’s jumbo cabinet said he […]
Sri Lanka opposition lawmaker joins government
Nov 15, 2007 (LBO) – A Sri Lankan opposition party lawmaker Thursday joined the government, a day after a ruling party parliamentarian defected to the opposition. Mahinda Ratnathilake, a member of parliament for the Ratnapura district in the main opposition United National Party (UNP) crossed over to the government soon after meeting President Mahinda Rajapakse […]
‘s Horana named best town for business
Nov 15, 2007 (LBO) – A town south-east of the Sri Lankan capital Colombo has emerged as the surprising choice of companies as the best place to do business. A study conducted by the international organization Asia Foundation in Sri Lanka on private sector business development and economic growth, found that Horana, 60 km from […]
Fresh Start
Nov 14, 2007 (LBO) – One of the youngest stockbrokering firms in Sri Lanka, which started as a unit of the First Capital Group is now operating as an independent entity as a with the group selling out its stake. First Capital Equities is formally changing its name to First Guardian Equities from today, the […]