Author: lbostgadmin
Sri Lanka needs new phase in international diplomacy: President
June 3, 2009 (LBO) – Sri Lanka needs a new diplomatic drive to win in the international arena, after defeating terrorism in the country, President Mahinda Rajapaksa said in a nationally televised address. “Many countries have helped us,” President Rajapaksa said. “We appreciate it very much. “The hearts of our people will remember it.” Government […]
Economics of War (and also peace)
June 3, 2009 (LBO) – Wars have always been fought with one objective. That is to take forced possession of economically valuable assets belonging to the enemy. The list may vary from time to time, but a typical set of such coveted assets goes on as follows: land including right to water; young women including […]
Credit Lift
June 03, 2009 (LBO) – Sri Lanka’s Pan Asia Bank said it had slashed its interest rate on credit cards to 30 percent a year from 42 percent to ease repayment difficulties and the burden on consumers whose spending has declined.The bank also noted how other countries like the USA, are taking action to reform […]
Port Bids
June 03, 2009 (LBO) – The Sri Lankan government has extended for the second time the deadline for proposals from investors to build and operate a new deep-water container terminal in Colombo port.Sri Lanka Ports Authority (SLPA) officials said the deadline for bids is now July 8. Previously, the government had extended the deadline to […]
Sri Lankan shares close flat, rupee rock steady
June 03, 2009 (LBO) – Sri Lankan stocks close flat on Wednesday as the market stabilized at current price levels, while the rupee continued to be steady against the greenback, brokers and dealers said. The spot dollar was trading at 114.85/114.95 levels in late afternoon trade, dealers said. The Colombo All Share Price Index was […]
” inflation 15.8-pct
June 02, 2009 (LBO) – A controversial core inflation index of selected items in Sri Lanka was at 13.5 percent in May 2009, the central bank said, while the country’s headline index rose 3.3 percent, from 2.9 percent. Core inflation is claimed by central banks to better reflect their monetary policy actions, and drops food […]
Sri Lankan media rights activist recovers after attack
June 2, 2009 (AFP) – A Sri Lankan journalist was recovering in hospital Tuesday after being beaten up near the capital Colombo as a rights group expressed renewed concern for the safety of the island’s media. Poddala Jayantha, secretary of the Sri Lanka Working Journalists’ Association, was abducted near his home and severely attacked with […]
UN did not underestimate Sri Lanka death toll: Ban
UNITED NATIONS, June 1, 2009 (AFP) – UN chief Ban Ki-moon on Monday categorically rejected allegations the world body had deliberately underestimated the death toll in the ethnic conflict in Sri Lanka.“I categorically reject — repeat categorically — any suggestion that the United Nations has deliberately underestimated any figures,” he told the UN General Assembly. […]
Is lightening a risk for modern aircraft?
PARIS, June 2, 2009 (AFP) – Passenger jets are hit by lightning every 1,000 hours — on average twice a year — and experts say the risk from the bolts of electricity is growing. But technical experts, astounded like everyone else by the disappearance of an Air France jet in the Atlantic with the feared […]
‘s mobile subscriber base crosses 400 million
NEW DELHI, June 2, 2009 (AFP) – The number of mobile subscribers in India crossed the 400 million mark in April, official data showed Tuesday, putting the country on track to reach its goal of 500 million customers by next year.Some 11.90 million subscribers were added in April compared with 15.64 million during the previous […]
Slow Sales
June 02, 2009 (LBO) – Listed consumer durables firm Singer (Sri Lanka) said March 2009 quarter profits plunged 79 percent to 26 million rupees from a year ago as consumer spending slumped amid an economic slowdown. Group sales for the three months ended March 31, 2009 fell 23 percent to three billion rupees, the company […]
Bank Numbers
June 02, 2009 (LBO) – Sri Lanka’s National Development Bank (NDB) group net profit went up 30 percent to 455 million rupees in the quarter ended March 31, 2009 despite the adverse economic conditions, while bad loan provisions increased. Total group income roe 18 percent to 3.6 billion rupees, the bank said in a statement. […]