All Blogs
Price Cushion
SINGAPORE, September 19, 2006 (LBO) – Sri Lanka said Tuesday it was moving towards eliminating oil subsidies that are threatening to blow a hole in the nation’s budget and asked lenders for financial help to tide over oil shocks. Public Administration minister Sarath Amunugama said the government has responded appropriately to the sustained sharp rise […]
Sri Lanka GoldQuest controversy takes new turn with Central Bank denial
Sept 19 (LBO) – The controversy over the sudden recall of police investigators probing the GoldQuest scheme took a new turn, with the authorities denying that the move would affect an ongoing anti-pyramiding drive. The withdrawal of the police investigators from the bank’s unit investigating pyramid schemes will not affect ongoing investigations, the Central Bank […]
Broader Role
SINGAPORE, September 18, 2006 (LBO) – The International Finance Corporation, the World Bank’s private sector lender, is scaling up operations in smaller countries, as it looks for ways to share expertise to give market access to rural communities. Sales of these carbon credits, helps the Netherlands comply with its commitments under the Clean Development Mechanism […]
Estate workers in Sri Lanka begin wage talks, amidst high commodity prices
Sept 18 (LBO) – High commodity prices could up the bargaining power of plantation worker unions, as talks with plantation companies to raise wages, begin next week.Trade unions representing 260,000 workers in plantation companies who are re-negotiating a 2-year collective agreement say they will factor in high prices companies enjoyed this year for tea and rubber. […]
Online Jazz
SAN FRANCISCO, Sept 18, 2006 (AFP) – Internet search titan Yahoo announced plans on Monday to trumpet its revamped search page and enhanced features in a global ad campaign complete with trademark company yodel. “We are bringing back that Yahoo spirit uniquely in an updated, celebratory way,” Allen Olivo, company vice president of worldwide marketing, […]
Small Talk
Sept 18 (LBO) –Telco operator Lanka Bell said Monday it was re-branding its short message service through fixed line phones, to appeal to a wider audience. The investment has paid off rich dividends, with Lanka Bell’s customer base soaring by more than 90,000. A company official said subscriber base had now topped 300,000 following new […]
Eleven Muslims killed in Sri Lanka
COLOMBO, Sept 18, 2006 (AFP) – The bodies of 11 Muslim men hacked to death were found in eastern Sri Lanka Monday, police said as Tamil Tiger rebels and government forces blamed each other for the massacre. The victims were labourers working on an irrigation project in the eastern Ampara district and had been killed […]
Sri Lanka among groups against IMF reforms
SINGAPORE, September 18, 2006 (LBO) – Sri Lanka was one of the 23 countries that opposed a plan to overhaul the voting shares of the International Monetary Fund. Voting rights or access to funds are determined on member’s economic growth, openness to trade, the amount of reserves they hold and the volatility of each economy. […]
’s new thrust on linking aid and graft busting
SINGAPORE, September 18, 2006 (LBO) – World Bank’s policy body Monday asked the bank’s president not to lose sight of reducing poverty, as the global lender ups the tempo to curb corruption and promote good governance through lending programs. We strongly endorse the Bank’s role and mission is to eradicate poverty among middle income and […]
Civil society groups slam IMF reforms
SINGAPORE, September 18, 2006 (LBO) – Civil society groups Sunday slammed IMFs plan to overhaul its governance structure, saying they mean very little to poor countries. The Washington based Fund’s policymakers backed the 61-year old International Monetary Fund’s reform agenda today, giving more voting power or influence to fast growing economies of China, Turkey, South […]