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Tsunami cost to tourism far less than 9/11 attacks: industry leaders
The impact of the tsunami disaster on tourism in 2005 will be about 40 times less than that of the September 11 attacks on the United States, industry leaders said Friday at the opening of the World Travel and Tourism summit.The impact of the tsunami disaster on tourism in 2005 will be about 40 times […]
HSBC structures foreign exchange link derivative deal for Brandix
HSBC Global Markets, a unit of HSBC Group, structured a derivative instrument for Sri Lanka’s Brandix Lanka Ltd in a deal worth US$ 8.5 mn (£ 4.5 mn). HSBC Global Markets, a unit of HSBC Group, structured a derivative instrument for Sri Lanka’s Brandix Lanka Ltd in a deal worth US$ 8.5 mn (£ 4.5 […]
Pay Up
Sri Lanka’s Central Bank on Friday raised the minimum capital requirement for commercial banks by 400 percent to promote a robust and stable financial system.Sri Lanka’s Central Bank on Friday raised the minimum capital requirement for commercial banks by 400 percent to promote a robust and stable financial system. Licensed commercial banks will have to […]
Up, Up
Workers’ remittances are a key source of foreign exchange for developing countries, at more than 100 billion dollars a year and expected to rise, but transaction costs remain high, experts and officials say.Workers’ remittances are a key source of foreign exchange for developing countries, at more than 100 billion dollars a year and expected to […]
China Calls
Private fixedline operator Lanka Bell, signed up for a US$ 400 mn equipment deal with China’s Huawei Technologies Co., Ltd, to deploy a low cost rural network.Private fixedline operator Lanka Bell, signed up for a US$ 400 mn equipment deal with China’s Huawei Technologies Co., Ltd, to deploy a low cost rural network. The wireless […]
Watchout
The IMF said Thursday that rising living standards in China and the rest of the developing world will keep oil prices sky-high for decades to come, with even 100 dollars a barrel not ruled out.The IMF said Thursday that rising living standards in China and the rest of the developing world will keep oil prices […]
Scandinavian monitors say Tiger attack on navy boat a truce violation
Scandinavians monitoring a truce between Sri Lankan troops and Tamil Tigers ruled Friday that the rebels were in breach of the ceasefire when they attacked a naval patrol boat.Scandinavians monitoring a truce between Sri Lankan troops and Tamil Tigers ruled Friday that the rebels were in breach of the ceasefire when they attacked a naval […]
Clear land policy needed to resettle tsunami victims, says UN
The United Nations office in Sri Lanka is calling for a clear land policy for resettlement of tsunami victims, particularly in areas of land shortage.“A clear policy on relocation is of such national importance, it must not be politicised,” said the resident representative of the UNDP, Miguel Bermeo, on Friday, at a Danish business conference. […]
Rebel fighting kills two more in Sri Lanka
At least two people were killed in Sri Lanka’s restive eastern province Friday in what military officials described as escalating rebel factional fighting.At least two people were killed in Sri Lanka’s restive eastern province Friday in what military officials described as escalating rebel factional fighting. A breakaway faction of the Tamil Tigers clashed with the […]
Hic Hic
Sri Lanka’s warring parties are yet to agree on how to disburse millions of dollars in foreign aid for tsunami survivors more than three months after the disaster, a senior minister admitted Thursday.Sri Lanka’s warring parties are yet to agree on how to disburse millions of dollars in foreign aid for tsunami survivors more than […]