Author: lbostgadmin
Sri Lanka central bank sees room for rate cuts
May 13, 2009 (LBO) – Sri Lanka’s central bank Governor Ajith Nivard Cabraal said there was more room to cut rates and hinted that the monetary authority may return to a single signal policy rate.So far this year the monetary authority has cut its de facto main signal rate, the penal reverse repo rate, from […]
” by civilian deaths in Sri Lanka
WASHINGTON, May 11, 2009 (AFP) – The United States is “deeply concerned” about civilian deaths in strife-torn Sri Lanka, a State Department spokesman said Monday, calling on the Colombo government and Tamil Tiger rebels to end their fighting.“We’re deeply concerned,” said State Department spokesman Ian Kelly, when asked to comment on reports that more than […]
Sit-down Tamil protestors arrested in London
LONDON, May 11, 2009 (AFP) – British police said they arrested 45 Tamil protestors Monday after they blocked traffic with a sit-down protest outside parliament in London, in response to the killing of civilians in Sri Lanka. The arrests were made as police tried to move protestors off the road at one of the British […]
Australia announces new people-smuggling fight
CANBERRA, May 12, 2009 (AFP) – Australia on Tuesday announced what it called the largest surveillance operation in the country’s history to fight people-smuggling amid a surge in refugees making for its shores.Unveiling the annual budget, the government committed an extra 1.3 billion Australian dollars (990 million US) to strengthening border security, including two additional […]
The illusion of rational man; enter the economics of fear
May 12, 2009 (LBO) – The Greek historian Plutarch has recorded an encounter which Alexander the Great had with one of the sages of Taxila University, Dandamis, in the third century B.C. The youthful emperor, having been impressed by Dandamis’ skilful resolution of numerous riddles thrown at him, had asked one final question: ‘how can […]
Sri Lanka Janashakthi Insurance licence suspended for three weeks
May 12, 2009 (LBO) – Sri Lanka’s Insurance Board said it has suspended Janashakthi Insurance’s licence for three weeks from Tuesday and prohibited it from issuing new insurance policies. The suspension is in respect of Janashakthi’s Long Term Insurance Business and General Insurance Business, the Insurance Board of Sri Lanka (IBSL) said in a statement. […]
Sri Lanka Janashakthi appeals against suspension of insurance licence
May 12, 2009 (LBO) – Janashakthi Insurance said it had appealed against the suspension of its licence by the Insurance Board of Sri Lanka which was due to non-compliance with the solvency ratio as the regulator had not accepted previously accepted assets.. “The company is in the process of appealing against this sudden and unexpected […]
Sri Lanka troops take more rebel territory: military
May 12, 2009 (AFP) – Sri Lankan troops have made fresh advances into the small patch of territory held by the Tamil Tigers, the defence ministry said Tuesday.A statement said government forces advanced 800 metres (yards) during fighting on Monday, cutting deeper into the roughly four square kilometres (1.5 square miles) of coastal jungle in […]
Mobile Football
May 12, 2009 (LBO) – Sri Lankan football fans now have the option to have interactive gaming sessions, download content and view English premiership football club Manchester United (MU) matches on the go with Bharti Airtel connections. An agreement signed between Bharti Airtel and MU would give Bharti users in India, Sri Lanka and Seychelles […]
Bootleg Ware
May 12, 2009 (LBO) – Software piracy in the Asia-Pacific region continued to grow last year with Sri Lanka the second worst offender, a study said Tuesday, AFP news agency reported. The piracy was driven by the rapid growth in computer sales and the availability of bootleg programmes online. AFP said the annual survey by […]
Intact Core
May 12, 2009 (LBO) – Fitch Ratings Lanka said it has confirmed the ‘AA+(lka) national long-term rating of Commercial Bank, Sri Lanka’s largest private bank, with a stable outlook. It said in a statement the rating reflects the bank’s sustained strong financial profile amongst local commercial banks. Fitch has also confirmed Commercial Bank’s individual rating […]
Sri Lanka stocks down, rupee loses ground
May 12, 2009 (LBO) – Sri Lankan shares came down Tuesday on fears that a 1.9 billion dollar International Monetary Fund bailout was delayed, while the rupee weakened against the dollar, brokers and dealers said. The rupee opened at 117.05/117.25 and fell to 117.25/0117.45 levels by late afternoon trade. In the stock market the All […]