All Blogs
‘t buy cars so fast, pleads Chinese mayor
BEIJING, July 6, 2007 (AFP) – The mayor of one of China’s showpiece economic cities has urged his 11 million residents to stop buying cars in a bid to ease worsening traffic and pollution woes, state media reported Friday. The booming southern city of Shenzhen, just across from the border from Hong Kong, now has […]
Bangladesh go down fighting as Sri Lanka clinch series
July 5, 2007 (AFP) – Sri Lanka saw off a record stand between two young Bangladesh batsmen to win the second cricket Test by an innings and 90 runs with two days to spare on Thursday. Bangladesh, trailing by 389 runs in the first innings, were bowled out for 299 in the final session of […]
‘t Open
July 06, 2007 (LBO) – Opening up Sri Lanka’s electricity sector to foreign competition under international free trade rules that are being negotiated could be dangerous, a senior engineer has warned. Commitments Sri Lanka might make under the General Agreement on Trade in Services (GATS), a multinational agreement covering trade in services, could be irrevocable, […]
Sri Lankan apparel to get wider access to Indian market
July 06, 2007 (LBO) – India has agreed to lift restrictions relating to fabric origins on duty free Sri Lankan apparel exports to the sub-continent market in the latest trade talks between the two neighbours, a senior official said. “Now apparel exporters to India can source their fabric requirements from anywhere,” Manel de Silva, Director-General […]
Sri Lanka central bank to retail treasuries
July 05, 2007 (LBO) – Sri Lanka’s central bank will use its regional offices to sell government securities to rural investors, the bank said, as real returns on treasuries are turning positive in a market that has been shaken with a series of aborted auctions.The bank runs the government’s debt office as an agency function […]
Retail Collection
July 05, 2007 (LBO) – HSBC has tied up with Singer Sri Lanka, a household durables firm, to use its network of outlets to collects payments for credit card bill payments for cardholders outside the capital. HSBC customers can use 162 Singer outlets throughout the island to pay settle their bills. “Our intention was to […]
Finance Probe
July 05, 2007 (LBO) – A presidential commission of inquiry probing the collapse of a string of finance companies in Sri Lanka has begun questioning Central Bank officials. The four-member commission comprising of senior legal and finance experts commenced sittings on July 2 and will hold its next sessions on July 6 and 13. The […]
Joint Effort
July 05, 2007 (LBO) – Senior officials from South Asian central and commercial banks will meet in the Sri Lankan capital Colombo Friday to discuss the setting up of a regional payment system, the country’s central bank said. Officials of regional central banks as well as the World Bank and Bank for International Settlements are […]
No Deal
July 05, 2007 (LBO) – Sri Lanka’s construction industry has successfully lobbied the government to defer the liberalisation of construction and related services under a free trade deal with India, an official said. The industry is not wholly against the idea of liberalising services but wants to protect local players until they are ready to […]
Islamic banking and finance set to grow in Asia
SINGAPORE, July 5, 2007 (AFP) – Islamic banking and finance is likely to continue growing in the Asia Pacific region but the real test of its sustainability will be how the system reacts to a major financial crisis, a report said Thursday. The industry is set to develop its own identity separate from conventional banking […]