Author: LBO
Bloodiest ground battle tests Sri Lanka’s threadbare truce, toll 44
July 31, 2006 (AFP) – Sri Lankan troops and Tiger rebels Monday fought their bloodiest ground battle since a 2002 truce, with the military reporting at least 44 combatants killed, but monitors said it was still not full-scale war.More than 60,000 people have been killed in the three-decade-old Tamil separatist conflict. The army’s ground offensive […]
Sri Lanka’s consumer prices ease in July to 14.7%
July 31, 2006 (LBO) – Sri Lanka’s consumer prices for July eased marginally to 14.7 percent, the Census & Statistics Department said Monday, as a drop in vegetable prices helped offset hikes in rice, bread and jam. Prices of sugar, garlic, tamarind, red onions, eggs, coconuts and most varieties of vegetables, helped inflation ease up […]
Sri Lankan ‘miracle of Lebanon’ returns home penniless
TYRE, Lebanon, July 30, 2006 (AFP) – Vasanthi Darmadasa was sweeping her employers’ garden when her life changed.An Israeli bomb came thundering out of the sky, destroying the house and killing everyone there — except her.“I was thrown to the ground by the shockwave. I didn’t feel anything in my legs and I did not […]
Fitch upgrades People’s Leasing securitsed notes to A+(lka)
July 26, 2006 (LBO) – Fitch Ratings Lanka Wednesday has upgraded the Lease Backed Trust Certificates issued by People’s Leasing Trust Nine to ‘A+(lka)’ from ‘A(lka)’. People’s Leasing trust nine, is a special purpose vehicle created by People’s Leasing Company of Sri Lanka (PLC) for the sole purpose of this transaction. The rating action says […]
Sri Lanka’s army chief back at work after bombing
July 26, 2006 (AFP) – Sri Lanka’s army chief Sarath Fonseka has resumed work after surviving a suicide bomb attack three months ago, military spokesman Prasad Samarasinghe said Wednesday. More than 60,000 people have been killed in the conflict.Lieutenant General Fonseka returned to the capital Colombo Tuesday after undergoing specialised treatment in Singapore for more […]
Fitch upgrades Nations Trust Bank to ‘A(lka)’
July 26, 2006 (LBO) – Fitch Ratings said Wednesday it has upgraded Sri Lanka’s Nations Trust Bank’s long-term debt to A(lka) with its outlook on the rating to “stable”. The ratings agency said the revision mainly reflects NTBs stronger financial profile, equity infusion post merger with Mercantile Leasing Ltd (MLL) and an expanded asset base. […]
Singapore to shut ‘open outcry’ facility, one of last in Asia
SINGAPORE, July 25, 2006 (AFP) – There will be no more shouting or waving of hands in obscure signals from September when one of Asia’s last traditional “open outcry” exchange trading facilities is closed in Singapore.The Singapore Exchange said Tuesday its open outcry facility will shut at the close of business on Friday September 29 […]
WTO collapse set to fuel Asia’s “noodle bowl” effect
TOKYO, July 25, 2006 (AFP) – The breakdown of the WTO talks is likely to encourage the further proliferation of bilateral free trade pacts in Asia that have raised concerns about a “noodle bowl” of overlapping rules, analysts said. East Asian nations have already been rushing to negotiate individual agreements to remove barriers to trade, […]
Macau to lead the way in Asia’s gaming boom: industry
SINGAPORE, July 24, 2006 (AFP) – Casino gaming is increasingly accepted as a revenue stream for Asian governments and the sector is set to continue growing phenomenally with Macau leading the way, industry players said Monday. From Australia to Singapore and other Asian countries, the region’s governments now recognise that integrated gaming “resorts”, offering casino […]
Sri Lanka’s rights watch dog slammed for dropping investigations
July 18, 2006 (AFP) – A Sri Lankan watchdog has halted its probes into the disappearance of thousands of people so that the government can avoid paying compensation, the Asian Human Rights Commission charged Tuesday.Sri Lanka’s Human Rights Commission (HRC), appointed and funded by the government, has shelved some 2,000 current probes into people who […]
Car trunks key for Zimbabwean ‘millionaires’
HARARE, July 16, 2006 (AFP) – Becoming a millionaire in Zimbabwe is easy these days, but wallets and purses have given way to car trunks and suitcases as the crucial accessory for carrying wads of nearly worthless cash.As the southern African country battles hyper-inflation and grinding fuel and foreign exchange shortages amid a seven-year economic […]
Microsoft software to improve India’s cricket umpires
NEW DELHI, July 16, 2006 (AFP) – India’s cricket chiefs are negotiating with Microsoft for new software aimed at raising umpiring standards in the country, an official said on Sunday. The Indian board will record all domestic matches with six cameras and the footage will be analysed by the software to be developed by Microsoft, […]