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Merchant Assets
July 27, 2007 (LBO) – Fitch Ratings Lanka which affirmed People’s Merchant Bank’s (PMB) long-term BBB (lka) rating Friday said its assets grew 44 percent in the last financial year. The outlook on the rating is stable. “PMB’s rating takes into account its modest profitability and satisfactory asset quality,” Fitch said. It also considered the […]
Design Prize
July 27, 2007 (LBO) – A Sri Lankan trust named after renowned architect Geoffrey Bawa has launched a national award with a million-rupee prize to recognize and reward good examples of contemporary island architecture. . Sri Lanka has a lot of young talent in architecture which should be recognized and encouraged, the Geoffrey Bawa trust […]
Flying Gold
July 27, 2007 (LBO) – A SriLankan Airlines advertising campaign developed by Grant McCann Erickson hit the lime light winning the first gold at the Pacific Asia Travel Association (PATA) Gold Awards.The campaign which focused on the theme ˜home away form home™ bagged the award for the best marketing campaign for an airline. The whole […]
Saudi Sword
July 26 (LBO) – The Asian Human Rights Commission (AHRC) has urged the Sri Lankan government to ratify part of an international treaty to help save the life of a young girl facing a death sentence in Saudi Arabia. The called came as it emerged that more Sri Lankans were facing executions in Saudi Arabia. […]
Sri Lanka apparel group in Spanish tie to boost swimwear fabric flow
July 27, 2007 (LBO) – A new joint venture with a Spain-based firm will fill a gap in synthetic fabric printing capacity, especially in swimwear, Sri Lanka’s MAS apparel group said Friday. The group through its unit, MAS Capital (Pvt) Ltd had inked a deal on July 19 with Textprint S.A of Spain to start […]
” trafficking ring
HANOI, July 27, 2007 (AFP) – A Taiwanese man and five Vietnamese have been jailed for between five and 12 years for trafficking more than 120 Vietnamese women to Malaysia, a court official said Friday in the communist country.Vietnam’s Prime Minister Nguyen Tan Dung last month urged local authorities to raise awareness and make every […]
US new home sales plunge 6.6 percent in June
WASHINGTON, July 26, 2007 (AFP) – Sales of new homes in the United States dropped 6.6 percent in June to an annualized 834,000 units, in a further sign of the persistent slump in the housing sector, the Commerce Department said Thursday. The June number of new home sales, the lowest since March, was significantly below […]
Sri Lanka, Capitalism 2.0, a dead Doha and the new economic order
July 27 (LBO) – Small countries like Sri Lanka would have been better off had world trade talks succeeded as the alternative is bilateral trade deals with stronger, increasingly protectionist economic partners, a top European economist said. Protectionist sentiment was on the rise in established capitalist countries who feel threatened by the emergence of new […]
Easy Dollars
July 26, 2007 (LBO) – Sri Lanka has relaxed foreign currency transactions in the country by allowing money changers to sell as well as buy forex and also relaxed rules on operating non-resident foreign currency accounts. The Central Bank, which regulates the industry, said in a public notice that nine money changers out of 62 […]