All Blogs
‘s Muhammad Yunus and Grameen Bank
OSLO, Oct 13, 2006 (AFP) – The Nobel Peace Prize was awarded on Friday to Muhammad Yunus of Bangladesh and the Grameen Bank which offers loans to poor people without any financial security. “Lasting peace cannot be achieved unless large population groups find ways in which to break out of poverty. Micro-credit is one such […]
New front opens in Sri Lanka after big military losses
VAVUNIYA, Sri Lanka, Oct 13, 2006 (AFP) – Sri Lanka’s military and the Tamil rebels opened a new front in the east after a fierce battle in the north killed 130 soldiers, casting a shadow over peace talks later this month. More than 60,000 people have been killed in the three-decades-old conflict. Troops and the […]
‘s Central Bank freezes key interest rates
October 12, 2006 (LBO) – Sri Lanka’s central bank held rates steady at its October monthly monetary meeting, two weeks after an ad hoc rate rise of 50 basis points. The bank said its benchmark reverse repurchase rate, used to manage liquidity and contain inflation, will remain at 11.125 percent. The short-term repurchase rate at […]
Bargain Fares
Oct 12 (LBO) – Dubai based Emirates Airlines is offering a bargain single fare for Sri Lankan leisure seekers and businessmen flying to Europe this winter season. Travelers flying from Colombo to 20 destinations in Europe can buy a four month, economy class return ticket for 50,000 rupees (500 dollars), excluding taxes and fuel surcharges, […]
Banking Ed
Oct 12 2006 (LBO) – The Institute of Bankers of Sri Lanka (IBSL) will award more than 600 student members certificates at the eleventh convocation with students flocking to qualify as bankers, officials say. The only institute that is empowered by an Act of parliament to provide banking training in Sri Lanka has over 9,000 […]
’s Box
October 12, 2006 (LBO) – Sampath Bank may be a possible takeover target once again, when the small bank moves to amend its articles and allow a single shareholder to own a bigger stake, an equity research report said Thursday. Sampath has no controlling shareholder, but businessmen Dammika Perera and his related companies control around […]
Got Milk?
Oct 12, 2006 (LBO) – Sri Lanka has relaxed earlier moves to ban milk powder advertising, instead regulating branded milk adverts so that liquid milk gets adequate airtime. Cabinet spokesperson and media minister Anura Yapa said Thursday that the government had agreed to regulate advertising of branded powder milk. This includes a mandatory slogan promoting […]
Online Tutor
WASHINGTON, Oct 12, 2006 (AFP) – American students having trouble with pesky math equations or intricate English grammar are increasingly turning to tutors all the way in India for help with their homework.The tutors are part of a growing army of teachers being recruited across the Asian giant to dispense their knowledge online to US […]
Singapore to issue 20-year bonds for the first time
SINGAPORE, Oct 12, 2006 (AFP) – The Singapore government will issue a 20-year bond for the first time next year as part of efforts to further develop the local debt market, the de facto central bank said Thursday.The new Singapore Government Securities (SGS) bond will be issued in March 2007, the Monetary Authority of Singapore […]
‘s cricket board accuses “snooty” ICC of neo-colonialism
MUMBAI, Oct 12, 2006 (AFP) – India’s battle against the International Cricket Council turned nasty Thursday with the world governing body of the game accused of snooty, avaricious neo-colonialism.The ICC did no immediately comment on Modi’s comments.“The avaricious and snooty officials are behaving more as masters and less as paid executives,” raged Lalit Modi, vice-president […]