All Blogs
Home Bias
Nov 22, 2006 (LBO) – Government attempts to retain more re-insurance at home may reduce the quality of the cover available from the industry and concentrate too much risk in one geographical location, an international risk analyst has warned. Top local firms were now placing risks with re-insurers with ratings of A- or higher, but […]
Big Fish
November 22, 2006 (LBO) – Sri Lanka’s securities watchdog has filed action against nine people for misleading market players with transactions connected with shares of Nawaloka Hospitals Ltd. The nine persons, the SEC says committed “acts to create a false/misleading appearance of an active share market and the offences of aiding and abetting and conspiracy […]
Air travel to boom on low-cost, emerging economies: Airbus
LONDON, Nov 22, 2006 (AFP) – European aircraft maker Airbus said Wednesday that its estimate of world demand for airliners in the next 20 years had leapt by 31.2 percent in two years to a total of 22,700. The surge from estimates in 2004 was being driven by demand from low-cost airlines and by growth […]
Choices: Going North or Going South?
November 22, 2006 (LBO) – The Colombo-Habarana Road is a military supply route. Those driving on it are likely to come across slow moving convoys of army containers guarded by soldiers going North and buses carrying soldiers and sailors going South on home leave. Yet, the recent rains washed away parts of this road between […]
Sri Lanka unfazed by donor condemnation
COLOMBO, Nov 22, 2006 (AFP) – Sri Lanka’s government was Wednesday undeterred in its battle against Tamil Tigers, despite heavy criticism dished out to the warring parties after a key international donor meeting.“Even more impatient than us, we believe, are the different people of Sri Lanka.They are suffering from this present atmosphere of fear,” Solheim […]
Tiger chief peace negotiator terminally ill: report
COLOMBO, Nov 22, 2006 (AFP) – The top peace negotiator for Sri Lanka’s Tamil Tiger rebels, Anton Balasingham, is terminally ill with cancer, a Tamil newspaper here reported Wednesday. Balasingham had been the main contact for peace broker Norway as well as other key international players involved in attempts to bring about a peaceful resolution […]
Donors condemn fighting in Sri Lanka
WASHINGTON, Nov 21, 2006 (AFP) – Major donors engaged in efforts to end Sri Lanka’s civil war condemned the government and Tamil rebels alike Tuesday for human rights abuses and systematic violations of a 2002 ceasefire. Senior diplomats from the United States, European Union, Japan and Norway issued a statement expressing “alarm” at the ongoing […]
‘ parley for feeding a credit bubble, inflation
November 21 (LBO) – Sri Lanka’s loose monetary policy came under fire at a gathering of top economists and business leaders in the country, with panelists slamming the Central Bank for pushing inflation up, creating a credit bubble and putting Sri Lanka’s balance of payments under pressure. Upside Down Though the economy was growing at […]
‘ fear that deemed dividend tax may hurt capital of Sri Lankan banks
Nov 21 (LBO) – A controversial tax to force Sri Lankan companies to pay dividends would undermine the health of the commercial banks by depleting their capital, a top banker has warned. The government is keen to push dividends in order to charge the dividend tax. But private sector officials point out that choice of […]
Open Doors
Nov 21 (LBO) – India on Tuesday lifted controversial controls on duty free imports of vanaspati oil from Sri Lanka, which had caused the shutdown of all local factories since June this year. An Indian gazette notice revoked controls that said all Sri Lankan vanaspati exports would have to go through a state run agricultural […]