Author: lbostgadmin
Location Lure
Sept 13, 2010 (LBO) – Service providers in the trade hubs of Dubai and Singapore have shown interest in a new port in southern Sri Lanka where a request for proposals from businesses has been issued, an official said. “To attract volumes to Sri Lanka we must have capacity; otherwise we might not attract regional […]
Campaigners seek more reactive UN rights council
GENEVA, September 12, 2010 (AFP) – Five years after the Human Rights Council was set up, the United States, once among its biggest critics, has now confirmed its full engagement in the UN body. She acknowledged that there are still many critics who “are still arguing that the US should not have joined in the […]
Sri Lanka Wayamba defeated by South Africa Warriors
PORT ELIZABETH, September 11, 2010 (AFP) – A dream start for South African franchises in the Champions League Twenty20 tournament continued on Saturday as Eastern Cape Warriors defeated Wayamba Elevens by seven wickets. South African President Jacob Zuma and Spanish singing megastar Enrique Iglesias were among those who witnessed star-less Highveld Lions shock the Sachin […]
Fifth interest rate hike expected as India battles inflation
NEW DELHI, September 12, 2010 (AFP) – India is expected to hike interest rates this week for a fifth time in six months after a surge in industrial output strengthened the case for another dose of monetary tightening, economists say. Although India has been the most aggressive in the Asia-Pacific region in raising rates to […]
IMF warns of debt menace as recovery slows
WASHINGTON, September 10, 2010 (AFP) – High levels of national debt and a still shaky financial sector threaten to derail the global economic recovery, the IMF warned on Friday. The Washington-based body warned of a funding bottleneck as European nations try to extend their borrowing by rolling over bonds. “Sovereign debt maturing in vulnerable euro […]
‘s constitution changes draw US concern
WASHINGTON, September 11, 2010 (AFP) – The United States on Saturday expressed concern over changes to the Sri Lankan constitution, which strengthened the presidency, saying they were undermining the principles of democracy. “The United States is concerned that this constitutional amendment weakens checks and balances and thus undermines the principles of constitutional democracy,” State Department […]
‘s Mumbai in opener
JOHANNESBURG, September 10, 2010 (AFP) – The Champions League Twenty20 tournament got off to a thrilling and surprise start Friday with local outfit Highveld Lions of South Africa defeating star-studded Mumbai Indians by nine runs. Opener Vandiar led the way at one of the most famous world cricket venues with his runs coming off 48 […]
Sports Backing
Sept 10, 2010 (LBO) – Sri Lanka’s schools sports need private sector support, especially for an upcoming meet that will see children from former war-torn areas taking part in a big way, the education minister has said. The education ministry has also started a s scholarship program for talented students who are financially constrained. “There […]
‘ worth of gold to Bangladesh
WASHINGTON, September 9, 2010 (AFP) – The International Monetary Fund on Thursday announced it would sell 10 metric tons of gold to Bangladesh, worth around 403 million dollars. “This transaction is part of the total sales of 403.3 metric tons approved by the executive board,” the IMF said in a statement. That decision was taken […]
Taxpayer Pressure
Sept 10, 2010 (LBO) – The United States aid agency has suspended a programme to train youth in Sri Lanka’s former northern war zone for jobs in the outsourcing industry, an American lawmaker who opposed the project said. Congressman Tim Bishop said he hailed the suspension of the 10 million US dollar training project by […]
Sri Lanka tea trade told to liberalise, tap stock market
Sept 10, 2010 (LBO) – Sri Lanka should consider liberalising tea imports to encourage blending and value addition while plantations companies could use the current stock market bull run to raise funds, a report said. “Given the current buoyancy of the equity market, however, it is opportune for such companies to start tapping the stock […]
Implied Support
Sept 10, 2010 (LBO) – Fitch Ratings Lanka has confirmed Merchant Credit of Sri Lanka Ltd’s (MCSL) National Long-term rating at ‘BBB(lka)’ with a stable outlook, a statement said. The affirmation reflects the implied support from MCSL’s main shareholder and Sri Lanka’s largest bank – state-owned Bank of Ceylon, rated ‘AA(lka)’/Stable, it said. “Fitch believes […]