Author: lbostgadmin
Desert Tragedy
RIYADH, June 13, 2009 (AFP) – Nineteen men, most of them foreign workers, were incinerated when a Saudi bus caught fire after crashing into a truck during a blinding sandstorm, a transport official said on Saturday. No one escaped from the burning bus when it hit a slow-moving truck entering the road from the shoulder […]
Fund Flow
June 14, 2009 (LBO) – A part of the pension funds of Sri Lanka’s private sector workers may be diverted as unemployment benefits to those who lose jobs in the current economic crisis, a media report said.The Sunday Times newspaper said authorities are set to take out billions of rupees of unclaimed Employees Provident Fund […]
Sri Lanka seeks post-war aid from UAE: foreign minister
June 13, 2009 (AFP) – Sri Lanka on Saturday sought aid from the United Arab Emirates to rebuild swathes of land devastated by the near four decades long ethnic war with the Tamil Tigers. Foreign Minister Rohitha Bogollagama, who made the request to his visiting UAE counterpart Sheikh Abdullah Bin Zayid Al Nahyan, had also […]
Sri Lankan bowling inspires Sangakkara
LONDON, June 13, 2009 (AFP) – Sri Lanka captain Kumar Sangakkara believes his side’s varied attack is the reason they’ve remained unbeaten so far at the World Twenty20.The team have long been known for the quality of their spin bowling yet Pakistan were 35 for three at Lord’s on Friday before the likes of off-break […]
Sri Lanka Insurance chief promises professional management
June 13, 2009 (LBO) – Newly appointed competent authority to Sri Lanka Insurance Corporation (SLIC), has said that the firm will be managed professionally, setting an example to the private and public sectors, an employee said.Nalaka Godahewa was appointed as competent authority to SLIC after it was returned to government hands on a court order.The […]
British court jails Tamil leader for helping Tigers
LONDON, June 12, 2009 (AFP) – A British Tamil leader convicted of supplying bomb-making equipment to Tamil Tiger rebels was jailed for two years by a court in London Friday, but the judge described him as a “thoroughly decent man.” “He is not merely a man of good character, he has done a great deal […]
US Congress passes historic curbs on deadly tobacco industry
WASHINGTON, (AFP) – The US Congress voted overwhelmingly Friday to grant the government historic powers to regulate cigarette makers, overturning decades of resistance by the powerful tobacco industry. The legislation, set to be signed into law later Friday by President Barack Obama, grants the Food and Drug Administration (FDA), a regulatory body, the authority to […]
Power Finance
June 13, 2009 (LBO) – Sri Lankan private sector firms are too small yet to start mega infrastructure such as coal plants on their own, the International Finance Corporation (IFC) which is financing such plants in the region, said. The IFC, the private sector finance arm of the World Bank, likes to partner with the […]
Sri Lanka state workers take home 53.6-pct of 2008 taxes
June 12, 2009 (LBO) – Sri Lanka’s state salaries and pensions ate up 53.6 percent of tax revenues in 2008, while 129,135 workers were added to an already bloated public sector, which is the biggest in South Asia, the latest official data shows. The finance ministry said 71,323 workers were added to state services in […]
IMF loan “urgency”‘t beg for aid: CB chief
June 12, 2009 (AFP) – War ravaged Sri Lanka will not beg for foreign aid even as a 1.9 billion dollar bailout from the IMF has been delayed, the island’s central bank chief said on Friday.“We will never go after donors or lending agencies with a begging bowl.We are capable of standing on our own […]
Sri Lanka loses Rs10bn on tax slashed cars to state workers
June 12, 2009 (LBO) – Import duty waivers for Sri Lankan state workers to buy cars has lost the country over 10 billion rupees in revenue in 2008, a report by the finance ministry said. The import of motor vehicles under a concessionary duty structure was implemented under different government circulars in 2008, the finance […]
Fuel Reach
June 12, 2009 (LBO) – Lanka IOC, the Sri Lankan unit of Indian Oil Corp, wants to seek clarification on reports the island’s government is to amend its agreement with the fuel retailer, a senior official said. LIOC managing director Suresh Kumar said he was unaware of any plans to change the deal with the […]