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Earthquake
July 18, 2007 (LBO) – An earthquake measuring 5.2 on the Richter scale had occurred in the Bay of Bengal 510 kilometres to the East of the Sri Lankan capital Colombo, the US Geological Survey said. The breach occurred 35 kilometer below the surface of the earth at 04:27:28 Universal Time, or 09.57 am local […]
Top Posts
July 18, 2007 (LBO) – Sri Lanka’s Securities and Exchange Commission (SEC) has appointed the head of its legal division as its new deputy director general, the regulator said Wednesday. Marina Fernando, who joined the SEC in 2003 was its Director, Legal and Enforcement. “As Deputy Director General, she will oversee matter pertaining to the […]
Money printing Zimbabwe tightens price controls worsening food shortages
HARARE, July 17, 2007 (AFP) – Zimbabwe’s government was set to intensify its pricing crackdown, despite being condemned by the White House on Tuesday as a reckless move that would further fuel inflation and exacerbate food shortages.Nathan Shamuyarira, ZANU-PF’s secretary for information and publicity, said a meeting of the party’s politburo on Monday, chaired by […]
Maldives wants new airports for resort islands
July 18, 2007 (AFP) – Maldives is seeking international investors to help build ten regional airports as part of a plan to develop nearly three dozen resort islands, a minister said on Wednesday. “We plan to build 10 domestic airports packaged with tourist resorts, to make it economically feasible to investors.The tenders will go out […]
China private airline gets first nod for international routes
SHANGHAI, July 18, 2007 (AFP) – China’s East Star Airline said Wednesday it had won approval to fly overseas, the first private carrier to do so, as part of efforts to loosen the nation’s strictly controlled civil aviation sector.The airline based in central China said in a statement that it gained approval from aviation regulators […]
‘s tooth buried in forehead
SYDNEY, July 17, 2007 (AFP) – An Australian rugby player who went to his doctor with severe headaches was amazed to find he’d been living with an opponent’s tooth embedded in his forehead for months, it was reported Tuesday.Ben Czislowski clashed heads with an opponent during a game in the Queensland Cup competition in early […]
‘s tourist industry: Peace or posters?
July 18, 2007 (LBO) – Recently the JVP trade union in the hotel industry put up posters asking for prompt government action to address the crisis in the hotel industry, by ensuring the restoration of tourist arrivals and extending low-interest loans and related concessions to the hotel industry.This was in stark contrast to the statements […]
Air Pocket
July 17, 2007 (LBO) – Sri Lankan Airline’s consolidated after tax profits dived 50 percent to 862.1 million in the year ended March 2007 the carrier said, as tourists shied off the war ravaged island and fuel costs climbed . . “The largest single factor that affected the airline’s bottom-line was the return to hostilities […]
Borrow Gold
July 17, 2007 (LBO) – Sri Lanka’s gem and jewellery industry is lobbying for new financial instruments like ‘gold loans’ to get cost effective funds for those in the trade, especially small businesses. “Valuations can be dealt with,” said Ellawala. “But having it in the vault is not feasible. After all, this is your working […]
Joint Service
July 17, 2007 (LBO) – DFCC Vardhana Bank (DVB) has teamed up with Sri Lanka Insurance Corporation (SLIC) to introduce insurance products to consumers in parallel to banking services. ‘Vardhana Assurance’ makes available life, motor and general insurance, covering marine, title, mortgage plans. “All life insurance policies will be underwritten by the SLIC,” Nalaka Godahewa, […]