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Deutsche Bank and Central bank respond to story on central bank independence
The Central Bank’s Senior Deputy Governor and the Deutsche Bank Head of Communications to the Asia Pacific Region have responded to our story headlined ‘Prudential Norms’ on August 27 on central bank independence. We can but echo the words of Marriner Eccles, a governor on the Federal Reserve board, in his congressional testimony on January […]
Aitken Spence floats debenture to pay off loans
August 28, 2006 (LBO) – Sri Lanka’s Aitken Spence & Co Ltd secured a AA(lka) rating for its upcoming 500 million debenture, but Fitch Rating Lanka expressed concerns on the group’s exposure to the monopoly state power distributor and a worsening ethnic conflict. The bluechip conglomerate is tapping the corporate debt market with a 500 […]
Choices: Trade agreements or tired tirades?
August 28, 2006 (LBO) – In a discussion of two pieces of trade-related legislation now before Parliament, a JVP MP stated that they served the interests of the World Terrorist Organization as he described the WTO (World Trade Organization). It is not surprising that his venom was directed at the WTO and the concepts free […]
Heavy fighting in Sri Lanka as troops move to secure port
Aug 28, 2006 (AFP) – At least four Sri Lankan soldiers were killed and 41 wounded as security forces launched a ground offensive Monday to push back guerrilla artillery threatening a strategic naval port, officials said.More than 60,000 people have been killed in Sri Lanka’s drawn out Tamil separatist conflict and political talks on ending […]
Sri Lanka hunts for fugitive executive facing US fraud charges
Aug 28, 2006 (AFP) – Sri Lankan police said Monday they were hunting alleged fugitive executive Jacob “Kobi” Alexander after reports he fled fraud charges in the US for a fishing village hideaway in the island nation.Detectives were investigating a claimed sighting of the 54-year-old after he failed to appear in court in the United […]
Oil Options
August 28, 2006 (LBO) – Sri Lanka is trying to terminate an agreement with Norwegian survey company TGS Nopec and buy up three years worth of seismic data on potential oil deposits off the island’s coast for 10 million dollars. In an agreement between the government and TGS Nopec signed in 2002, the company would […]
Top Offers
August 28, 2006 (LBO) – Just over ten foreign and local firms put in bids for a license to market lubricants in Sri Lanka, when offers closed on Monday, a top official said. Sri Lanka threw open its lubricant market in July, calling for bids from interested investors to blend lubricants locally or import and […]
” over global warming
KUMAMOTO, Japan, Aug 27, 2006 (AFP) – A Japanese bank is doing its bit to raise interest over global warming, in more ways than one. The Kumamoto Family Bank on the southern island of Kyushu has taken eco-consciousness to a new level by basing its interest rate on the average temperature, giving customers a reason […]
‘s mission impossible
Aug 27, 2006 (AFP) – The new head of Sri Lanka’s truce monitors takes over a team cut by nearly half this week amid warnings by his predecessor of “mission impossible” to satisfy both sides in the vicious separatist conflict. Former Norwegian army chief Lars Solvberg will run a 30-strong group after members from the […]
New clashes in Sri Lanka as foreigners head for safety
Aug 27, 2006 (AFP) – The Red Cross ferried 150 foreign nationals to safety from the embattled Jaffna peninsula Sunday as the Sri Lankan military claimed fresh fighting left 12 Tamil Tiger rebels dead.Aid agencies complained they have been unable to reach many of the 200,000 who have fled fighting from across the island’s northeast […]