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Think tank IPN calls writers for a free society to participate in the Bastiat Prize
June 06, 2007 (LBO) – The international Policy Network (IPN), a London based think tank, is calling for writers who promote institutions for free society to take part in their annual competition. IPN’s Bastiat Prize for Journalism had been inspired by the 19th-century French philosopher and journalist Frédéric Bastiat. Last year writers from 49 countries […]
Train blast in Sri Lanka wounds four
June 6, 2007 (AFP) – A bomb exploded under a passenger train in Sri Lanka’s embattled east on Wednesday, wounding at least four people, military officials said.A mine buried along the track went off as the train was at Navaladi in the the coastal district of Batticaloa, a military official in the area said by […]
Divine Intervention
June 6, 2007 (LBO) – Sri Lanka’s state electricity utility warned that power cuts would be imposed if monsoon rains do not come in the next two weeks to boost its hydro storage capacity. It engineers have warned the media last month that another unsuitable 300 MegaWatt thermal plant is being forced on the utility […]
Sri Lanka finance ministry, auditor-general in row over revenue losses
June 06, 2007 (LBO) – Sri Lanka’s Finance Ministry has disputed a report by the auditor-general that weak collections led to a revenue loss of 360 billion rupees. The loss, it said in its annual report for 2006, was not more than 6.2 billion rupees of which half related to the VAT refund fraud which […]
Sri Lankan commercial bank widens reach of hedging products
June 06, 2007 (LBO) – The Commercial Bank of Ceylon says it is broadened the availability of forex hedging products, allowing even individuals to use them in addition to large corporates and small and medium businesses. These products will also help customers to diversify their cash investment portfolios, Commercial Bank’s Head of Global Treasury, Dula […]
Upgraded
June 5, 2007 (LBO) – Fitch Ratings has upgraded PABC Bank, a Sri Lankan commercial bank to an investment grade BBB- (lka) with the stable outlook, the agency said Tuesday. “The upgrade of the rating recognises improvements in PABC’s profitability and relative improvements in its capitalisation ratios and asset quality since the bank was first […]
Trend Setter
June 05, 2007 (LBO) – Richard Pieris, a Sri Lanka listed firm, has declared a cash dividend and a stock distribution under provisions of a new company law that came into effect last month.A bonus also increased the shares in issue without affecting the assets of the company, which has the same effect as a […]
Bangladesh recall Razzak and Rahim for Sri Lanka Tests
DHAKA, June 4, 2007 (AFP) – Bangladesh’s cricket selectors on Monday recalled left-arm spinner Abdur Razzak and teenage wicket-keeper Mushfiqur Rahim for an upcoming three-Test series in Sri Lanka.Razzak, who played his only Test against Australia in 2006, returned to the squad after his impressive performances in one-day cricket, chief selector Faruq Ahmed said. “Razzak […]
‘s Arjuna in?
BANGALORE, India, June 4, 2007 (AFP) – India’s cricket chiefs failed to name a new national coach on Monday even as South African Graham Ford replaced Dav Whatmore as the frontrunner for the post.“We have decided to invite Ford and another coach of foreign origin for discussions,” N.Srinivasan, treasurer of the Board of Control for […]
Japan in Sri Lanka peace bid amid bloodshed
June 5, 2007 (AFP) – A top Japanese envoy arrived in war-torn Sri Lanka Tuesday to try and restore a tattered peace process after some of the bloodiest battles between government forces and Tamil Tiger rebels this year.The rebels say they are fighting for an independent homeland for the tropical island’s minority Tamils.Overall, the 35-year-old […]