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Quiet Walk
June 21, 2006 (LBO) – State Bank of India plans to expand its reach in Sri Lanka, making use of an upsurge in business climate since the February 2002 ceasefire, a top official said Wednesday. The Indian giant has been present in Sri Lanka since 1864, but has been sort of a late comer to […]
Record tea exports Jan-May
June 21, 2006 (LBO) – Sri Lanka shipped more tea to overseas markets for the five month to May, earning a record 35 billion rupees, a commodity broker said Wednesday. For the five month period, the tropical island shipped 128.0 million kilos, higher than 112.76 million kilos sold during the same period 2005. The shipments helped […]
Web Net
SAN FRANCISCO, June 20, 2006 (AFP) – Fresh from a fight with US officials over the sanctity of online search information, Google on Tuesday joined an alliance of technology firms calling for federal legislation protecting consumer privacy.“Today we live in a digital economy where both beneficial and potentially harmful uses of personal information are multiplying,” […]
‘s “third-rudest” status
KUALA LUMPUR, June 21, 2006 (AFP) – Malaysia on Wednesday hotly disputed a global survey that found its capital Kuala Lumpur was the third rudest in the world, saying it was renowned for its friendly people.Deputy Prime Minister Najib Razak said the widely publicised Reader’s Digest magazine survey of politeness levels in 35 cities could […]
Howls of protest as Mumbai named as rudest city on earth
MUMBAI, June 21, 2006 (AFP) – India’s crowded commercial centre Mumbai drives the nation’s rapid economic growth but is far too busy to say “thank you,” making it the world’s rudest city, according to a survey.In a rudimentary study on shopkeeper behaviour, picking up fallen papers in the street and holding open doors, Mumbai comes […]
Choices: Toll or troll?
June 21, 2006 (LBO) – Recently there was a news report on innovative policing on the Colombo-Kandy road. On two days of the week, the traffic police would follow errant drivers and videotaping violations of various traffic rules, such as crossing the single or double lines. Then they would ticket the drivers while making them […]
EU ceasefire monitors must go, Tigers tell Norwegian peace broker
June 21, 2006 (AFP) – Sri Lanka’s Tamil Tigers Wednesday told peace broker Norway that European Union ceasefire monitors must go following the EU’s outlawing of the rebels, as the country slid further towards war.Norway’s ambassador Hans Brattskar was told by Tiger leaders that monitors from Denmark, Finland and Sweden must go soon and that […]
Sri Lanka government issue dollar bond issue at lower rates
June 20 (LBO) – A Sri Lanka government dollar bond issue targeting local investors was oversubscribed Tuesday, allowing the government to roll-over maturing bonds at much lower rates. A 50 million dollar loan from Bank of Ceylon is also maturing on June 22nd which was issued at premium of 185 basis points above LIBOR. -LBO […]
Sri Lanka policy turns more hawkish
June 20, 2006 (Dow Jones)–Sri Lanka’s central bank signaled a more hawkish stance when it increased its policy rates sooner than expected last week.Although a return to a tightening had been anticipated, Friday’s surprise 25-basis-point increase each in the repurchase and reverse repo rates highlighted the authorities’ growing concerns over rising inflation. “This month’s increase […]
Tourists travel cautiously May arrivals show slow growth
June 20, 2006 (LBO) – Tourist arrivals to Sri Lanka showed slow growth in May as local violence grows and travel from some European and South Asian markets slide. Arrivals were up about 7.2 percent in May to 43,824 travellers over the same month last year, with top generating markets India and the United Kingdom […]