Author: lbostgadmin
Specialist Lender
Dec 21, 2008 (LBO) – Sri Lanka’s Edirisinghe Trust Investments (ETI), a registered finance company, has been upgraded by one notch to ‘BB-(lka)’ Fitch Ratings said, while its outlook has been lowered to ‘stable’ from ‘positive’ at the new credit level. Real estate, in the form of housing development projects and land, marketed to the […]
Sri Lanka navy destroys rebel arms ship: military
December 20, 2008 (AFP) – Sri Lanka’s navy on Saturday destroyed a Tamil Tiger vessel carrying arms and other supplies off the island’s northeastern coast, the defence ministry said.Navy patrol craft “completely destroyed” the vessel of the Liberation Tigers of Tamil Eelam (LTTE) off the coast of Mullaittivu in a pre-dawn assault, the ministry said […]
Comms Down
PARIS, December 19, 2008 (AFP) – Internet and telephone communications between Europe, the Middle East and Asia were severely disrupted Friday after three undersea cables were damaged in the Mediterranean, France Telecom said.“The causes of the cut, which is located in the Mediterranean between Sicily and Tunisia, on sections linking Sicily to Egypt, remain unclear,” […]
Comm Link
PARIS, December 20, 2008 (AFP) – A French ship on Saturday took experts to repair broken undersea Mediterranean cables that caused severe disruption to telephone and Internet services across the Middle East and Asia, France Telecom said. But many operators said communications services had improved as alternative routes had been used to carry calls and […]
Sri Lanka looking for alternative foreign financing: Central Bank
De 19, 2008 (LBO) – Sri Lanka is looking for alternative sources of foreign funding, the central bank said, as global financial markets remained in turmoil and risk premiums high despite unprecedented rate cuts by reserve currency central banks.The Central Bank says a major part of speculative capital that came into the government securities market […]
Sri Lanka inflation falling faster than expected: Central Bank
Dec 19, 2008 (LBO) – Sri Lanka’s inflation is falling faster than expected, the Central Bank said, as a global collapse in commodities washed into the country and the country’s money growth was also kept in check. Sri Lanka’s central bank targets the monetary base, which is expected to influence growth in other monetary aggregates, […]
Price Cut
Dec 19, 2008 (LBO) – Lanka IOC, a unit of Indian Oil Corporation, is cutting the retail price of petrol to 100 rupees a litre on an order by Sri Lanka’s Supreme Court, an official said Friday. The court order came following a public interest petition which said the government was charging 72 rupees of […]
Sri Lanka govt says enough fuel stocks available
Dec 19, 2008 (LBO) – Sri Lanka’s state-owned Ceylon Petroleum Corporation has enough stocks and it is continuing to supply fuel stations, a minister said, while a court directive to cut prices remains to be implemented. Information minister Anura Yapa said the CPC is sending 160 fuel bowsers to fuel stations island-wide. This should help […]
Sri Lanka to tour Pakistan after India pulls out
KARACHI, December 19, 2008 (AFP) – Sri Lanka have confirmed they will tour Pakistan next month in place of India, who cancelled their five-week series over the Mumbai attacks, a Pakistani cricket official said Friday.“We are thankful to Sri Lankan Cricket for confirming a tour in place of India,” Pakistan Cricket Board (PCB) chief operating […]
Sri Lanka steps up air attacks against Tigers
December 19, 2008 (AFP) – Sri Lanka’s air force Friday stepped up strikes on Tamil Tiger positions in the island’s north as ground battles subsided due to heavy rains, military officials said.Aircraft carried out half a dozen raids around Kilinochchi, the political capital of the Liberation Tigers of Tamil Eelam (LTTE), an air force official […]
Migrant Risks
Dec 19, 2008 (LBO) – Sri Lanka’s foreign ministry has warned housemaids seeking employment in Singapore to be wary of abuse and to use official channels when securing employment.It said in a statement its mission in Singapore has got several complaints from Sri Lankan housemaids employed in Singapore relating mainly to the payment of wages […]
State Conduit
Dec 19, 2008 (LBO) – The multi-billion rupee advertising business of the Sri Lanka government and semi-government institutions would channeled through a singe state-run entity in the future, a senior minister said. At present the government intuitions deal with various private agencies who buy time and space in electronic and print media. Information minister Anura […]