Author: lbostgadmin
Sri Lanka confident of avoiding war crimes probe
May 27, 2009 (AFP) – Sri Lanka said Wednesday it was confident of averting an international probe into alleged war crimes committed during its offensive against the Tamil Tigers. At the council meeting, two draft resolutions have been put forward — each one at odds in their approach to the aftermath of the conflict. The […]
Sri Lanka Janashakthi Insurance suspension lifted
May 27, 2009 (LBO) – Sri Lanka’s insurance regulator said it had lifted a suspension on the registration of Janashakthi Insurance from today, after the firm showed “sufficient cause”. Janashakthi said it last week it was making fresh proposals to meet the regulator’s concerns. “The Insurance Board of Sri Lanka has accepted the Company’s explanations […]
Rights diplomats struggle to find Sri Lanka compromise
GENEVA, May 27, 2009 (AFP) – The UN Human Rights Council reconvened its special session on Sri Lanka Wednesday with diplomats struggling to bridge an Asian-Western divide over the rights situation and a probe into abuses. Sri Lanka, backed by Asian countries including China, India and Pakistan, tabled a revised draft resolution late Monday which […]
WHO mulls pandemic threshold as flu cases near 13,000
MEXICO CITY, May 27, 2009 (AFP) – Mexico reported two more swine flu deaths on Tuesday, as World Health Organization scientists asked if it had moved too quickly to declare the outbreak a pandemic.Authorities in Mexico said the death toll had risen to 85, and infected cases rose to 4,721 with scientists advancing through a […]
Trim Talk
May 27, 2009 (LBO) – Subscribers of Sri Lanka’s Hutch, a unit of Hutchison had dropped 44 percent to 772,000 in the year to March 2009 amid steep price cuts and an entry of a fifth operator to the market. Dialog, a unit of Telekom Malaysia and the island’s dominant mobile phone operator, said its […]
Spell Check
May 27, 2009 (LBO) – The Sri Lankan chapter of the Chartered Institute of Management Accountants (CIMA) has launched the second season of Spellmaster, a spelling contest which it hopes will improve English spelling and vocabulary skills among school children. Being an avid reader from a very young age, I always referred the dictionary to […]
Asset Backed
May 27, 2009 (LBO) – Fitch Ratings Lanka said it has confirmed People’s Leasing Co.Ltd. Trust 32’s (PLC32) 119.7 million rupee lease-backed trust certificates (LBTCs) at ‘A-(lka)’ with a stable outlook.A Loss Severity rating of ‘LS-3’ has been assigned, it said in a statement. “The affirmation is based on the uninterrupted payouts made to LBTC […]
Rescue Mission
May 27, 2009 (LBO) – The Finance Company can be turned around within six months, according to Merchant Bank of Sri Lanka (MBSL) which has been appointed by the banking regulator to manage the troubled finance firm. “The only way to move forward The Finance is engage in day-to-day activities.If not, we can’t meet the […]
Sri Lanka shares firmer
May 27, 2009 (LBO) – Sri Lankan shares ended firmer Wednesday with investors keen on blue chips, hotels and banks, encouraged by the end of the ethnic war that could see an economic revival, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share […]
Sri Lanka manpower exporters battle downturn
May 26, 2009 (LBO) – Sri Lankans working abroad send home nearly three billion dollars a year, and despite a global economic meltdown and stiff competition from regional neighbors, industry officials say they are fighting the downturn. Around 1.8 million people are estimated to be employed abroad, according to Sri Lanka Foreign Employment Bureau data […]
UN rights council divided over Sri Lanka
GENEVA, May 26, 2009 (AFP) – Asian and Western members of the UN Human Rights Council failed to find a common voice on the situation in Sri Lanka before they were due to hold a special session on the issue Tuesday. Switzerland, with the support of about 30 mainly Western states, has tabled a draft […]
Sri Lanka Ceylinco Insurance March profit down 29-pct
May 26, 2009 (LBO) – Sri Lanka’s Ceylinco Insurance Company said March 2009 net profit fell 29 percent to 101 million rupees from a year ago as claims went up, despite a sharp increase in investment income. The firm is part of the Ceylinco group which was thrown into a crisis when an unlisted subsidiary, […]