Author: lbostgadmin
Terror Funds
Dec 02, 2009 (LBO) – The Sri Lankan government has identified some 600 bank accounts with links to the Tamil Tiger separatists and is trying to seize assets held by the Tigers, a spokesman said. Defence spokesman Keheliya Rambukwella said Tiger assets and bank accounts were largely held by Kumaran Pathmanadan alias KP, a top […]
Sri Lanka tea farms mull irrigation to counter weather changes
Dec 02, 2009 (LBO) – Sri Lanka’s plantations need foreign investment for estate and factory modernisation, including irrigation to counter changing weather patterns, said Kumar Jayasuriya, chairman, James Finlay, Colombo. Regional plantation companies running the island’s tea estates could do with foreign investment in irrigating fields, to cope with changes in rainfall patterns which could […]
Sri Lankan shares close up 1.33-pct on JKH sale
Dec 02, 2009 (LBO) – Sri Lankan shares closed up Monday boosted by the sale of 7.5 million John Keells Holdings (JKH) shares in an otherwise dull trading day, brokers said. The All Share Price Index closed at 2,952.16, up 1.33 percent (38.77 points) while the Milanka Price Index of more liquid stocks closed at […]
Sri Lanka private sector credit turns corner in Sept
Dec 02, 2009 (LBO) – Sri Lanka’s private sector credit started expanding in September 2009 ending eight months of contraction and the Central Bank says it would like to see more credit growth before tightening monetary policy.Growing private sector credit demand could also push risk free yields up as the risk appetite of banks increase. […]
‘s camp inmates free to leave Tuesday: official
November 30, 2009 (AFP) – Sri Lanka will Tuesday allow thousands of civilians to leave state-run camps where they have been detained since the military’s victory over Tamil Tiger separatist rebels, a senior official said.About 128,000 men, women and children who were displaced during the final stages of the conflict remain in heavily guarded military […]
‘s camp inmates set free
VAVUNIYA, December 1, 2009 (AFP) – Tens of thousands of Sri Lankan civilians held in state-run camps following the island’s ethnic conflict were allowed to walk free Tuesday, ending their internationally-condemned detention.Men, women and children were given their first opportunity to leave the northern Manik Farm complex since their incarceration over seven months ago. But […]
Indian police arrest politician in huge fraud probe
PATNA, November 30, 2009 (AFP) – Indian police Monday arrested a regional politician suspected of embezzling up to 650 million dollars during his five years in ministerial posts in an impoverished eastern state, officials said. Madhu Koda was taken into custody in his constituency of Chaibasa, in the state of Jharkhand, on allegations of possessing […]
Strangle Hold
Dec 01, 2009 (LBO) – First, we need to understand that debt markets broadly require three enabling factors, the need (or demand) for debt capital, a source (or supply) of debt capital, and the accompanying intermediary infrastructure that is required to put the two together. As far as the private sector corporate debt market is […]
Sri Lanka inflation accelerates to 2.8-pct in November
Nov 30, 2009 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 2.8 percent in November 2009 from a year earlier, against 1.4 percent in October, indicating inflation is picking up, the government’s statistics office and analysts said. The statistics office said that in November 2009, the 12-month moving average, a seasonally adjusted inflation […]
Sri Lanka to host 2013 Commonwealth summit
SYDNEY, November 30, 2009 (AFP) – Australia unveiled Perth on Monday as the venue for the next Commonwealth summit in 2011, as the international club’s latest gathering ended in Trinidad and Tobago.Foreign Minister Stephen Smith said it was a “tremendous opportunity” for the west-coast city, which is at the heart of the country’s commodities boom. […]
Developing countries urge Doha Round conclusion
GENEVA, November 29, 2009 (AFP) – Over 100 developing countries called Sunday for an “urgent” conclusion of negotiations for a world trade liberalisation pact, a day before a key World Trade Organisation ministerial conference.“The ministers of the G20 called for urgent action on the Doha Round,” according to a statement issued by G20 major developing […]
Sri Lanka high tariffs hurting investors, poor: US envoy
Nov 30, 2009 (LBO) – High import tariffs maintained by Sri Lanka not only deter investors but also hurt the poor, the American envoy to the island has said.High import tariffs and an economically-damaging tax system hurt not only individual companies, but economic growth in general, said US ambassador Patricia Butenis. “If a company here […]