All Blogs
Behave or you’re history, Nepal’s finance minister warns king
KATHMANDU, May 26, 2006 (AFP) – Humbled King Gyanendra must “behave” or he has no future even as a ceremonial monarch, Finance Minister Dr Ram Sharan Mahat told AFP, revealing a royal spending spree before absolute rule was brought to an end.Gyanendra’s conduct had been “very good” in the month since he relinquished his 14-month […]
Singapore’s Banyan Tree launches IPO
SINGAPORE, May 26, 2006 (AFP) – Singapore-based luxury resort and spa chain the Banyan Tree on Friday launched an initial public offering (IPO) worth up to 407 million Singapore dollars (259 million US). The resort and spa chain is issuing some 380 million shares at a maximum price of 1.07 dollars each and will make […]
Plumbing Job
May 26, 2006 (LBO) – Sri Lanka’s Seylan Bank’s credit outlook could be downgraded if the bank fails to beef up its capital, improves profitability and arrest chronic problems of bad debts, Fitch Ratings Lanka said Friday. Fitch assigned a ‘BBB+(lka)’ rating for Seylan’s upcoming 4-year 1.5 billion rupee subordinated debenture and affirmed the it’s […]
Asian Hotels kicks off firm sales on new condominium, the Emperor
May 26, 2006 (LBO) – Sri Lanka’s Asian Hotels & Properties Ltd, a unit of conglomerate John Keells Holdings, said Friday that they have started apartment sales based on floor plans of its new condominium complex. “We have now got the floor plans of each unit to sell. Earlier we got bookings based on the […]
Bitter Lessons
May 26 (LBO) – Sri Lanka™s top business chamber called for tough disciplinary action following a two day strike by customs officers, which paralysed imports and exports. The long-term impact on competitiveness of exports that largely depend on meeting delivery deadlines, will undoubtedly be adverse, the Ceylon Chamber of Commerce said in a statement on […]
Bad Advice
May 26, 2006 (LBO) – Sri Lanka’s Nawaloka Hospitals Ltd.’s fortunes swung into the red after providing hefty 284.23 million rupees for its investments in Galadari Hotel Ltd. The largely family controlled private hospital made a loss of 267.07 million rupees after making a profit of 18.97 million rupees for the fourth-quarter ended March 31, […]
”s finance minister warns king
KATHMANDU, May 26, 2006 (AFP) – Humbled King Gyanendra must “behave” or he has no future even as a ceremonial monarch, Finance Minister Dr Ram Sharan Mahat told AFP, revealing a royal spending spree before absolute rule was brought to an end.Gyanendra’s conduct had been “very good” in the month since he relinquished his 14-month […]
‘s Banyan Tree launches IPO
SINGAPORE, May 26, 2006 (AFP) – Singapore-based luxury resort and spa chain the Banyan Tree on Friday launched an initial public offering (IPO) worth up to 407 million Singapore dollars (259 million US). The resort and spa chain is issuing some 380 million shares at a maximum price of 1.07 dollars each and will make […]
Sri Lankan rebels say children freed from their ranks
May 26, 2006 (AFP) – Sri Lanka’s Tamil Tigers have released 16 youths who lied about their age to join the guerrilla movement, the rebels said in a statement received Friday.The Tigers maintain that their fighters are volunteers.“During the period of April and May, LTTE released 16 youths aged 15, 16 and 17 back to […]
Norway in fresh bid to avert full-scale war in Sri Lanka
May 26, 2006 (AFP) – Norway’s top peace envoy held lengthy talks with Sri Lanka’s President Mahinda Rajapakse Friday in a fresh bid to stop the island from drifting back to war, diplomats said.More than 60,000 people have been killed in the island’s Tamil separatist conflict since 1972.Oslo’s International Development Minister Erik Solheim arrived Friday […]