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Sri Lanka treasury auctions resume
July 12, 2007 (LBO) – Sri Lanka has accepted a small amount of bids from this week’s treasury bills after rejecting bids outright for two weeks in a row, data released by the public debt office showed. The government accepted 1.1 billion out of an auction of 11.3 billion rupees of maturing treasury bills.The bills, […]
Body Check
July 11, 2007 (AFP) – An Etihad Airways plane en route from Indonesia to the United Arab Emirates made an emergency landing in Sri Lanka Wednesday following a bomb scare, an airport official said. Flight EY-471 from Jakarta to Abu Dhabi was diverted to Colombo and checked by police commandos and bomb disposal units, the […]
Money Man
July 12, 2007 (LBO) – The governing board of Sri Lanka’s central bank is filling a vacancy with President’s Counsel K C Kamalasabayson, the monetary authority said Thursday. He was educated at St. Thomas’ College Mount Lavinia and was conferred a First Class Honours Pass at the Advocates Final Examination from Sri Lanka Law College […]
Consolidation
July 12, 2007 (LBO) – Asian Finance is planning a merger with its parent company, Lanka Ratings (LRA) said, while confirming a negative outlook on the firm’s rating due to its high exposure to the share market. Lanka Ratings Agency confirmed BBB3 investment grade rating of Asian Finance. “The negative outlook is premised on the […]
Standing By
July 12, 2007 (LBO) – Sri Lanka’s United Motors Lanka Limited has put off plans to diversify into big property developments as the market for high-rise space seems to be slowing, officials said. UML Property Development’s profits were tax free for a period of seven years and now are taxed at a concessionary rate. The […]
Graft Web
July 11, 2007 (AFP) – A grouping of companies launched Wednesday a website dedicated to collecting information about officials and governments around the world who seek bribes. The US-based Trace International, a non-profit grouping of multinational firms, said their new website Bribeline.org will allow people or organizations to anonymously report bribe requests. Trace said its […]
‘s to start coffee chain in Japan
TOKYO, July 12, 2007 (AFP) – McDonald’s said Thursday it will launch a chain of coffeeshops in Japan, hoping to tap into the country’s growing love of coffee but at lower prices than rivals.The Japanese unit of the global burger empire said it will open 15 “McCafes” in the Tokyo region next month and hoped […]
Euro hits record high against dollar on US economy worries
NEW YORK, July 11, 2007 (AFP) – The euro surged to a record high against the dollar Wednesday on growing concerns about risky loans in the US property market and a European Central Bank hint of an interest rate hike.In late New York trade, the dollar stood at 1.2062 Swiss francs, up from 1.2019 Tuesday. […]
Sri Lanka spins off Bangladesh cheaply
KANDY, Sri Lanka, July 12, 2007 (AFP) – Sri Lankan spin wizard Muttiah Muralitharan grabbed 6-28 as Bangladesh were shot out for 131 on the second morning of the third and final cricket Test here on Thursday. The tourists, who resumed at their overnight score of 72-4, lost their last six wickets for 33 runs […]
Tamil Tigers threaten guerrilla warfare after conventional defeat
July 12, 2007 (AFP) – Tamil Tiger rebels have admitted losing a key stronghold in eastern Sri Lanka to government forces and said they would revert to guerrilla tactics in the troubled region. Government forces were clearing landmines in the Thoppigala area which they captured from rebels on Wednesday, after months of heavy fighting, military […]