All Blogs
Cable Cut
August 30, 2006 (LBO) – The Asian Development Bank has dropped the second loan installment due to Sri Lanka, as the government is reluctant to push ahead with Ceylon Electricity Board’s reforms. The Manila based bank had earlier pledged 30 million dollars under a power sector project, with loan installments linked CEB reforms. Loan conditions […]
Sri Lankan rupee strengthens, 3-year bond yields rise sharply
August 29, 2006 (LBO) – Sri Lankan rupee firmed up against the U.S. dollar Tuesday, while share prices dipped as investors hunted for market leads, brokers said. Colombo’s benchmark All Share Price Index shed 2.81 points or 0.13 percent to 2,141.98, while the liquid Milanka Price Index, which tracks 25 stocks, slipped 10.40 points or […]
Aitken Spence to raise million of dollars in India for Kerala hotel project
August 29, 2006 (LBO) – Aitken Spence Hotels Holdings together with an Indian partner plans to raise up to ten million dollars in India, to fund its hotel expansion into Kerala. The company has tied up a 50:50 joint venture deal with Floatels India Limited, to buy up a 15 acre plot of land on […]
Security Cable
August 29, 2006 (LBO) – Cable operator CBNSat may need Defence Ministry clearance to re-start transmission, as the company steps up its public campaign appealing to authorities to expedite their government approvals. Over 100,000 viewers in Sri Lanka enjoy CBNSat which has a maximum of 28 international TV channels and packages ranging from 500 to […]
Asian workers missing out on stellar growth: ILO
BUSAN, South Korea, Aug 29, 2006 (AFP) – Asian workers are missing out on the region’s stellar growth, facing longer hours and lower pay than elsewhere and this imbalance has to be addressed, the UN Labor agency said Tuesday.International Labor Organization (ILO) Director General Juan Somavia told a regional meeting here that the gains of […]
‘s leg amid security crackdown
WELLINGTON, Aug 29, 2006 (AFP) – Champion New Zealand disabled athlete Kate Horan is back on track for next week’s world championships after her special running leg was found Tuesday, more than a week after an airline mislaid it.Horan, who until recently held the world record for the 400 metres in her class, used to […]
Sri Lanka president leaves on sudden trip to Britain
Aug 29, 2006 (AFP) – Sri Lankan President Mahinda Rajapakse left here Tuesday on a sudden visit to London for talks with Prime Minister Tony Blair, official sources said.Rajapakse and Blair were expected to discuss Sri Lanka’s collapsing ceasefire with Tamil Tiger rebels, officials here said. The trip comes amid international efforts to salvage the […]
Sri Lankan journalist kidnapped
Aug 29, 2006 (AFP) – A Sri Lankan radio journalist was kidnapped near the capital Colombo on Tuesday, police said, prompting appeals by colleagues for his safe return.Nadaraja Guruparan, a member of the minority Tamil community, was forced out of his car by at least two people and taken away as he drove to his […]
Sri Lanka death toll hits 119 as troops halt offensive
Aug 29, 2006 (AFP) – Sri Lankan troops facing heavy resistance halted an advance Tuesday into territory held by the rebel Tamil Tigers, as the death toll from recent fighting hit 119, officials and guerrillas said.More than 60,000 people have been killed in the Sri Lankan conflict.Political talks on ending the violence stalled in April […]
Red Ink
August 29, 2006 (LBO) – Indian fuel retailer Lanka IOC Ltd reported a net loss of 584.0 million rupees for the three months to June on Tuesday, citing unpaid subsidy payments of 116.0 million rupees due from the Sri Lankan government. A unit of the Fortune 500 Indian Oil Corp. the Sri Lankan unit ran […]