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SHANGHAI, Sept 21, 2006 (AFP) – Financial regulators in China are mulling loosening regulations for foreign banks after criticism that proposed lending rules were far too strict, a state newspaper said Thursday. China, which is gearing up to open its financial services in line with commitments made to the World Trade Organization when Beijing joined […]
Singapore looks for defining new brand
SINGAPORE, Sept 21, (LBO) – The Singapore government is trying to come up with a single brand identity for the city state, but authorities may find the task a bit challenging to put a myriad of perceptions into one bag. Some of Singapore’s familiar icons now include Singapore Airlines, Changi Airport, Raffles Hotel and Minister […]
Four South Asian nations, including Sri Lanka, accused of doping offences
COLOMBO, Sept 21, 2006 (AFP) – Athletes from India, Pakistan, Sri Lanka and Nepal tested positive for banned substances at last month’s South Asian Games here, an official said on Thursday. “We have sent the preliminary investigation reports to the four countries and are awaiting their response”, Sri Lanka’s National Olympic Committee president Hemasiri Fernando […]
Sri Lanka troops deployed at Muslim town after rioting
COLOMBO, Sept 21, 2006 (AFP) – Sri Lankan troops were deployed at a Muslim town in the island’s east to quell rioting following the massacre of 10 residents, military officials said Thursday. Soldiers were deployed in the town of Pottuvil after residents clashed with local police, although an overnight curfew was eased early Thursday. “Soldiers […]
Developing states aim to lift millions out poverty with new G11 forum
NEW YORK, Sept 20, 2006 (AFP) – Eleven developing economies clubbed together Wednesday to unveil a new forum aimed at easing their debt burden, narrowing the income gap with rich countries and lifting millions of people out of poverty. Jordan’s King Abdullah II unveiled the Group of 11 (G11) mostly lower-middle income countries on the […]
Luxury resort and spa chain Banyan Tree shelves plans for Sri Lanka
SINGAPORE, September 20 (LBO) –Singapore-based luxury resort and spa chain Banyan Tree has shelved plans for Sri Lanka, as the leisure industry takes a beating amidst an upsurge in violence. The luxury leisure operator recently opened a spa at Cinnamon Grand Hotel in Colombo, besides a managing the Deer Park Hotel in Giritale under its […]
Airlines, tour operators see no disruption in Sri Lankan traffic to Thailand after coup
Sept 20 (LBO) – Tourist and business traffic from Sri Lanka to Thailand is expected to go on as normal following a military coup there, with few inquiries and cancellations, tour operators and airlines said. Thailand is popular among Sri Lankans as a leisure and shopping destination for with business travel contributing. Our operations will […]
Private Space
Sept 20 (LBO) – The government has offered private traders space on board state chartered vessels carrying food to war torn Jaffna on possible commercial terms, to build up a buffer stock ahead of monsoon rains in November that would make passage difficult. The government has been sending essential food items like rice to the […]
Live Trading
Sept 20 (LBO) – Sri Lanka’s Millennium Information Technologies (MIT) said Wednesday it had developed an automated trading system for the Nairobi Stock Exchange. Live trading began on September 11 with the new system, resulting in record trading volumes of 3761 trades compared to 759 trades on the same day the year before, MillenniumIT said […]
Talk Cheap
Sept 20 (LBO) – Payphone operator Tritel Services Limited said Wednesday it would slash outgoing call charges by 33 percent, expanding reach into rural markets. œOur priority focus is on rural communities as well as the less affluent urban community who find fixed telephony and mobile services too expensive and out of their reach, Ananth […]