All Blogs
Finance Rating
August 17 (LBO) – Fitch Ratings has given the flagship finance company of Sri Lanka’s Ceylinco Group, a BBB (lka) rating with a stable outlook, the rating agency said Thursday. Established in 1940, TFC has 32 branches. The Finance Company (TFC) is a listed company with an asset base of 25.2 billion rupees is largest […]
Japan ups tea imports from Sri Lanka
August 16 (LBO) – Japan has upped its purchase of black tea from Sri Lanka in recent months, as quality of local tea improves and exporters comply with tougher standards. Exports to Japan were up 32.28 percent to as at end April this year to 3558 kilos of black tea, just behind China as top tea […]
Japan proposes 16-nation Asian trade bloc: officials
KUALA LUMPUR, Aug 17 (AFP) – Japanese officials on Thursday proposed a sprawling 16-nation free-trade grouping with China, South Korea, Australia, India, New Zealand and the 10-nation Southeast Asian bloc, officials said. The 16 last year formed the East Asia Summit — seen as a precursor of a giant free-trade community embracing half the world’s […]
Fate of ancient brothel hangs in the balance in China
BEIJING, Aug 17 (AFP) – A city in central China is agonizing over whether it should preserve an ancient building that once housed a brothel in case it is seen as promoting prostitution, state media said Thursday. The problem is that if the authorities at Jinggang in Hunan province decide not to save the structure, […]
Sri Lanka fume, India cool as South Africa flee “risky” Colombo
COLOMBO, Aug 17, 2006 (AFP) – Sri Lanka’s cricket chiefs and media slammed South Africa on Thursday for pulling out of the tri-series as India looked forward to playing three matches against the hosts. The Proteas abandoned the tri-series on Wednesday, saying “the current risk to the team is at an unacceptable level” following a […]
”’ monitors flee from shelling
Aug 17 (AFP) – Ceasefire monitors in eastern Sri Lanka were forced to flee after they were nearly hit by heavy shelling in clashes between Tamil Tiger rebels and security forces, an official said Thursday.The six-member team left its base in the eastern port town of Trincomalee which has been the scene of fierce clashes […]
Troops beat back fresh attack on Jaffna forward defences
Aug 17, 2006 (AFP) – Troops killed over 50 Tamil rebels Thursday when the guerrillas staged a fresh attack on Sri Lanka’s Jaffna peninsula, officials said, a day after the president said the door was still open for peace talks. -updated- Troops beat back the attempt by the rebels to overrun their defences and killed […]
Climbing Up
August 16 (LBO) – SriLankan Airlines said Wednesday that it would raise fares by end August for the third time this year, to cope with soaring fuel prices, even as it trims costs onboard its aircraft. Fuel prices are on an upward trend and we will have to pass it on, there is no other […]
Tea exporter in Sri Lanka to get incentive fees for value addition
August 16 (LBO) – Sri Lankan tea exporters can tap into about 30 million rupees in cess funds being given this year as an incentive for value added exports of Ceylon tea.Exporters can submit claims based on volumes exported, proof of value addition under Sri Lankan brand labels, provided pack sizes are under three kilos, […]
Oil steady on easing Middle East concerns
SINGAPORE, Aug 16 (AFP) – Crude prices were steady in Asian hours Wednesday as traders breathed easier over the Middle East after the UN ceasefire in Lebanon took effect, dealers said. British energy giant BP’s announcement Friday that it would keep pumping oil from its Prudhoe Bay field in Alaska was also a relief for […]