All Blogs
Fed decision to print more money undermine confidence in dollar
WASHINGTON, Sept 23, 2007 (AFP) – The dollar’s weakness and the euro’s rise to record highs have raised questions about confidence in the US currency following a surprising Federal Reserve half-point rate cut, analysts say. Some are concerned that the dollar’s woes may prompt central banks to cash in their greenbacks, provoking a further downward […]
Sri Lanka conflict end in sight but dangers ahead, says US
Sept 23, 2007 (LBO) – Recent military victories over Tamil Tigers, especially in Sri Lanka’s east, offer a chance to end the conflict but only if minorities can be convinced of a bright future in the island, the US envoy has said. . “A solution to Sri Lanka’s conflict is in reach,” US Ambassador Robert […]
Sri Lanka offers olive branch to Tamil Tigers
Sept 23, 2007 (AFP) – Sri Lanka offered Sunday to halt major military operations against Tamil separatists in exchange for peace talks following intense international censure. The military will not press ahead with a ground offensive if the Tigers agree to talk, Defence Ministry secretary Gotabhaya Rajapakse told a newspaper. The country’s top defence official […]
LBR-LBO CFO Forum
Sept 22, 2007 (LBO) – The Sri Lankan chief financial officer’s job has become more challenging but the position retains its strategic importance and provides the best stepping stone to the top in the corporate sector, a senior executive said. “It is the same old role which most of our finance professionals are not playing […]
Sri Lanka tea estates try new employment model
Sept 22, 2007 (LBO) – Sri Lanka’s plantations industry is looking at a new employment model to overcome difficulties caused by the existing 100-year-old system that relies on huge resident labour forces, industry officials said. The new model, being tried by a few firms, allows workers to cultivate their own plots of tea and sell […]
Cell Record
NEW DELHI, Sept 22, 2007 (AFP) – The number of Indian mobile phone subscribers has passed the 200 million mark after the country added another eight million customers last month, industry figures show. India’s wireless market, the world’s fastest growing, attracted a further 8.31 million wireless subscribers in August to touch 201.29 million users, according […]
Sri Lanka mine blast kills bus driver
Sept 22, 2007 (AFP) – A powerful mine hit a civilian bus near Sri Lanka’s northeastern port of Trincomalee on Saturday, killing its driver and wounding two passengers, military officials said. They said troop reinforcements were rushed to the area following the bomb attack, which came six days after military in the area had celebrated […]
Sri Lanka rejects criticisms on human rights probe
Sept 22, 2007 (LBO) – Sri Lanka’s attorney-general’s department has rejected criticism of the island’s human rights record made by an independent, international panel, saying that the government was doing it best to probe abuses in an impartial manner. A statement from the AG’s Department said a report issued by the Independent Group of Eminent […]
Sri Lanka needs sensible monetary and fiscal policies: IMF report
Sept 22, 2007 (LBO) – Sri Lanka needs sensible fiscal and monetary policies and less fiscal dominance of the economy, a new report by the International Monetary Fund has said. The government is now expecting full year growth to be between 6 and 7 percent this year. The discussion paper by IMF researchers called for […]
Sri Lanka chases Indian MICE
Sept 21, 2007 (LBO) – Sri Lanka is targeting Indian firms to persuade them to hold their business meetings in the island in a bid to boost its flagging leisure industry which has been hit by an internal conflict, officials said. Sri Lanka Convention Bureau, an agency that promotes the Meetings, Incentive travel, Conventions and […]