All Blogs
Sri Lanka trade unions redundant as privatization ends political victimization: study
June 29, 2007 (LBO) – Less political victimization and better benefits have seen workers of privatized Sri Lankan companies opting out of trade unions, a recent survey showed. Meanwhile, the government has said it will close Sri Lanka’s privatization arm, the Public Enterprise Reform Commission, as the sale of state assets was no longer a […]
Sri Lanka set for record growth despite conflict
July 29, 2007 (AFP) – The recent escalation in fighting in Sri Lanka has not derailed the nation’s economy, with the island on track to record its fastest growth in nearly three decades, according to the central bank. Conflict between government troops and Tamil rebels has claimed more than 5,200 lives since late 2005, with […]
Deposit Drive
July 28, 2007 (LBO) – People’s Bank is on an aggressive drive to raise deposits this year, with an enhanced target of 30 billion rupees, a top official said. With the re-launch of the bank’s ˜Jayasiri’ low cost mobilisation scheme, People’s Bank is geared to reach the higher target and promote the saving habit in […]
Sri Lanka™s Bogawantalawa Tea Estates loses money but enters export marketing
July 26, 2007 (LBO) – Bogawantalawa Tea Estates Ltd. has reported loss last year but its marketing subsidiary, about whose viability auditors have raised doubts, has made a breakthrough in overseas markets with contracts to pack teas for private labels. Bogawantalawa Tea Estates reported a group net loss of 121.6 million rupees for the year […]
Flu Scare
July 28, 2007 (AFP) – Sri Lanka on Saturday banned imports of live birds and chickens from India following an outbreak of bird flu in the neighbouring country, an official said. “Sri Lanka has banned imports with immediate effect, after we received reports of an outbreak of bird flu in Manipur, India,” said D.D. Wanasinghe, […]
No Papers
RIYADH, July 28, 2007 (AFP) – A Sri Lankan minister on Saturday wrapped up a mission to Saudi Arabia aimed at securing clemency for a teenage maid condemned to death, saying he was confident the visit would “bear fruit.” They are a key source of foreign currency for Sri Lanka. A total of 110 people […]
Open Plan
July 28, 2007 (LBO) – An anti-graft action plan developed with the involvement of civil society and state agencies was presented to representatives of Sri Lanka’s judiciary, government and parliament at conference in Colombo Saturday. The National Anti-Corruption Action Plan prepared with funding from the United States Agency for International Development, proposes actions to be […]
‘s Bajaj in talks with Renault to make small car
NEW DELHI, July 28, 2007 (AFP) – Indian two-wheeler maker Bajaj Auto said Saturday it was in talks with French automaker Renault for a business partnership. The two companies issued a statement follows media reports they were close to concluding a deal for Renault’s proposed plans to manufacture a 3,000-dollar car. In it, they said […]
Toyota to test electric plug-in hybrid Prius cars
SAN FRANCISCO, July 27, 2007 (AFP) – Toyota announced this week a partnership with the University of California to road test two plug-in hybrid cars, a step toward getting the fuel-efficient vehicles to consumers. The study to be launched this fall will be the first time a major automaker puts the experimental cars on US […]
Bruised Wall Street sees more losses as global markets reel
NEW YORK, July 27, 2007 (AFP) – The bruised US stock market slid further Friday as investors retrenched amid fears of a housing slump and a potential credit crunch that led to a massive rout a day earlier. The Dow Jones Industrial Average tumbled 208.10 points (1.54 percent) to close at 13,265.47, a day after […]