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Money for new Sri Lanka ministers passed
June 19, 2007 (LBO) — Sri Lankan government Tuesday narrowly secured parliamentary approval to raise the national budget amidst chaos in the house when two former ministers crossed over and joined opposition ranks.The Tigers have declined to comment on the allegations that over 15 million dollars was paid to the Liberation Tigers of Tamil Eelam […]
Box Bonanza
June 18, 2007 (LBO) – South Asia Gateway Terminals (SAGT), Colombo Port’s privatised container facility, aims to handle 1.6 million containers by the end of this year, as India’s bulging trade volumes increase the flow of cargo through the harbour. SAGT’s new chief executive, Steven Edkins, believes Colombo will retain its status as South Asia’s […]
Floating Hotel
DUBAI, June 18, 2007 (AFP) – The booming Gulf emirate of Dubai said on Monday it has bought the Queen Elizabeth 2, one of the world’s most majestic cruise liners, for 100 million dollars from Britain’s Cunard Line.The ship will be berthed at a man-made island off the coast of Dubai and turned into a […]
No Dividend
June 18, 2007 (LBO) – Seylan Merchant Bank said it was unable to pay a dividend proposed earlier, following a solvency test specified in a new company law. The investment bank said in a stock exchange filing that shareholders who attended its annual general meeting last week had already been told that a 25 cent […]
Sri Lanka appoints new committee to examine plantation leases
June 18, 2007 (LBO) – The government is setting up a new committee to examine the long-term leases of estate lands to the privatized plantations firms, a senior government minister said. Sri Lanka has privatized former government held estates through long-term leases given to more than 20 plantations companies. Cabinet Spokesman Anura Yapa said a […]
Knowledge Cash
June 18, 2007 (LBO) – Amba Research, an investment research outsourcing firm which raised new venture capital financing Monday, is planning to expand operations in Sri Lanka, officials said. Over the last two years the government absorbed 42,000 unemployed graduates into the already bloated public sector, while outfits like Amba is searching high and low […]
New Zealand central bank intervenes to push currency down
WELLINGTON, June 18, 2007 (AFP) – New Zealand’s central bank intervened in the foreign exchange market Monday in an attempt to bring down the value of the local currency from near two-decade highs, market sources said.The New Zealand dollar fell from 75.45 US cents in early Monday trading to around 75 cents after the central […]
‘s busiest port
SINGAPORE, June 18, 2007 (AFP) – Shanghai is set to overtake Singapore as the world’s busiest port in 2008 as the Chinese economy continues with its stellar growth, an executive of the city-state’s port operator said in remarks published Monday.Flourishing global trade has enabled Singapore terminals to handle a record number of shipping containers in […]
Affordable tickets for fans in Sri Lanka and subcontinent at next World Cup
BHURBAN, Pakistan, June 18, 2007 (AFP) – The South Asian nations hosting the 2011 cricket World Cup promised on Monday to hold a spectator-friendly tournament with affordable ticket prices.The next organising committee meeting will be held in India in November-December this year. The pledge by India, Pakistan, Sri Lanka and Bangladesh comes after the 2007 […]
Sri Lanka, Bangladesh, Pakistan and India begin talks for 2011 World Cup
BHURBAN, Pakistan, June 17, 2007 (AFP) – Top cricket officials from across South Asia will meet here Monday to launch preparations for the 2011 World Cup, which will mark the third time the tournament has been played in the region.India, Pakistan, Sri Lanka and Bangladesh (IPSB) will jointly hold the mega-event, with the opening ceremony […]