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Three Sri Lankan soldiers killed in mine attack
June 21, 2007 (AFP) – At least three soldiers were killed and another wounded in a roadside bomb attack Thursday in northern Sri Lanka, military officials said.More than 60,000 people are reported to have been killed in the Liberation Tigers of Tamil Eelam’s separatist campaign since 1972.A Claymore mine exploded as troops travelled in a […]
Water Water
June 22, 2007 (LBO) – Sri Lanka is boosting pipe-borne water supply to the capital Colombo by expanding two water treatment plants, a senior government minister said. The National Water Supply and Drainage Board has negotiated a loan from Hungary to expand the treatment plants at Labugama and Kalatuwawa reservoirs, Information Minister Anura Yapa said. […]
Sri Lanka benchmark gilt rates up on fiscal weakness, information assymetry
June 21, 2007 (LBO) – Sri Lanka’s gilt rates shot up 30 basis points, a day after the government recieved permission from lawmakers to spend extra money on newly created ministries.Average yields at this week’s treasury bills auction moved up 30 basis points to 17.34 percent with the 3-month rate, which has now become the […]
Sino Wheels
June 21, 2007(LBO) – One of Sri Lanka’s largest used vehicle importers plans to import small cars from China and strike a deal with a big Chinese automaker to assemble vehicles locally, an official said.Sterling Automobiles, which claims to import half the reconditioned vehicles to the country from Japan, has just launched a brand new […]
Making Sense
June 21, 2007 (LBO) – Sri Lanka is to merge two state banks created as a result of election promises in the recent past, but keep a regional banking network with a good credit culture as an independent entity, officials said. Officials say Lankaputhra can take-over SME Bank under the provisions of company law, but […]
Debenture Quality
June 21, 2007 (LBO) – A 5-year, two billion rupee debenture issue of DFCC Bank has been assigned a rating of AA (lka) while the bank’s long-term rating of the same level has been confirmed, Fitch Ratings said. The rating agency also confirmed the AA- (lka) tag of DFCC’s subordinated debt was also confirmed. The […]
Virtuous Way
June 21, 2007 (LBO) – Sri Lanka’s open source software community is promoting free programs that can be used on operating systems like Microsoft Windows, without breaking anyone’s copyright. . Related Link: Foss Community Website . . The Free and Open Source Software (FOSS) advocacy community says, individuals or small companies that cannot afford proprietary […]
Western firms unaware of BRICS economies: survey
BANGALORE, India, June 21, 2007 (AFP) – Western companies exhibit a worrying lack of awareness about emerging markets like India that are reshaping global business, according to a British Telecom survey released here Thursday.“The increasing trend towards globalisation has a wider effect on such firms who must look to developing economies to enhance sales, diversify […]
‘s service to the Sri Lanka helps him out
June 21, 2007 (AFP) – Former Sri Lanka captain Marvan Atapattu will not be subjected to a disciplinary inquiry despite his self-imposed absence from the home series against Bangladesh, officials said here Thursday.It was initially expected that Sri Lanka Cricket (SLC) would ask the 37-year-old right-hander to show cause for his decision to stay out […]
Sri Lanka rebel lawmakers claim wider support
June 21, 2007 (LBO) – Rebel lawmakers of the ruling party are claiming wider support to become a moderate “third force” in Sri Lanka’s politics, and said they would initiate talks with other opposition parties soon. Samaraweera is closely associated with Kumaratunga. Mangala Samaraweera, who was sacked by President Mahinda Rajapakse earlier, said the rebels […]