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‘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, […]
Another Deadline
RIYADH, July 17, 2007 (AFP) – An appeal for a teenage Sri Lankan housemaid sentenced to death in Saudi Arabia for murdering a four-month-old baby has been launched, her lawyer said on Tuesday. Rizana Nafeek, 19, was convicted of strangling her employer’s baby in the ultra-conservative Muslim kingdom in February 2005 in a case that […]
Market Offence
July 16, 2007 (LBO) – A Sri Lankan court has convicted four executive directors of a listed company that went bust some years ago for not revealing information that affected the firm’s share price. The present SEC administration has made it clear that it would not allow compounding of offences with the provision that it […]
Bangladesh ex-PMs ordered to explain wealth
DHAKA, July 17, 2007 (AFP) – Bangladesh’s army-backed emergency government on Tuesday ordered two former prime ministers to submit details of their financial affairs as part of its corruption crackdown, an official said.Khaleda Zia and Sheikh Hasina Wajed, who was arrested and detained over extortion allegations Monday, have each been asked to provide the information […]
Indian launches betel condoms
NEW DELHI, July 17, 2007 (AFP) – A condom flavoured with the popular mixture of betel nut and tobacco known as paan is to go on sale in India, newspapers said Tuesday.State-owned company Hindustan Latex has already tested the pungent and bitter mixture on their main market, sex workers, who preferred it to other flavours […]
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SAN FRANCISCO, July 16, 2007 (AFP) – Google announced Monday that it is shortening the lives of software “cookies” used to track users’ online preferences. In coming months Google will begin issuing cookies that automatically expire two years after a person visits the website provided they don’t return, according to the US firm’s global privacy […]
‘ bail may be appealed by Australia
MELBOURNE, July 17, 2007 (AFP) – Australia indicated on Tuesday that it may appeal a court ruling which granted bail to two men charged with supplying funds to Sri Lanka’s Tamil Tiger rebels. It follows the government’s decision on Monday to revoke the visa of an Indian doctor charged in connection with the British car […]