Author: lbostgadmin
Asia should consider bank guarantees in current turmoil: IMF
WASHINGTON, October 17, 2008 (AFP) – Asian economies may have to consider guaranteeing bank deposits as a defensive option against global market turmoil although the region’s financial system remains sound, the IMF’s Asia chief believes. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to 678 European nations […]
Sri Lanka urged to promote local business in eastern revival
Oct 17, 2008 (LBO) – An international conflict watchdog has urged the Sri Lankan government to ensure greater fairness and preference to local businesses in the economic development of the eastern region which was cleared of Tamil Tigers. The International Crisis Group said in a new report on Sri Lanka’s Eastern Province that the government […]
Sri Lanka destroys food aid withheld from tsunami victims
October 17, 2008 (AFP) – Sri Lanka said Friday it would destroy a consignment of more than five tonnes of rotting rice and lentils meant for victims of the December 2004 Asian tsunami. The state auditor general in September 2005 noted out of 1.16 billion dollars committed to assist Sri Lankan victims, only 13.5 percent […]
Big powers gear up for daunting Bretton Woods II
PARIS, October 16, 2008 (AFP) – Europe is enlisting the United States and other powers in a drive to create a new system to ensure order in global finance, a task which analysts say is daunting but unavoidable. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to […]
Philippines warns shipping as more Filipino crew kidnapped off Somalia
MANILA, October 17, 2008 (AFP) – The Vice-President of the Philippines has confirmed the hijacking of a Filipino-manned ship off Somalia and appealed to shipping companies to sail within areas patrolled by a multinational coalition.“We are still awaiting further developments on the latest Somali piracy case,” Noli de Castro said in a statement that named […]
Sri Lanka bans 60 food products on melamine fears
Oct 17, 2008 (LBO) – Sri Lanka’s health ministry has banned the import and sale of 60 food products as a precautionary measure following the melamine Chinese milk contamination scandal.Many countries have pulled melamine-contaminated sweets and drinks from supermarket shelves amid the widening scandal over Chinese milk products tainted with the toxic chemical. Melamine, which […]
Sri Lanka military captures rebel-held town: govt
October 17, 2008 (AFP) – Sri Lankan troops captured a rebel-held town in the island’s north following heavy fighting that killed a “large” group of guerrillas, the defence ministry said Friday. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Security forces took the town of Maniyakkulam, 25 […]
Sri Lanka seeks to avoid spat with India over military drive
October 17, 2008 (AFP) – Sri Lanka’s government said Friday it would send a delegation to India to defuse mounting tensions over the escalating war against Tamil Tiger rebels.Sri Lanka’s minority Tamils share close cultural and religious links with the 55 million Tamils in the nearby South Indian state of Tamil Nadu. Colombo’s military drive […]
LBR-LBO ICT Forum
Oct 17, 2008 (LBO) – Advances in ICT (Information and Communication Technologies) could help companies, especially mid-sized ones, to improve and gain competitive advantage, Sri Lankan experts say. HP said it hopes to do more such projects to help deploy ICT effectively and efficiently in medium sized organizations. The University of Colombo School of Computing […]
Sri Lankan tea prices slump at Colombo auction
Oct 17, 2008 (LBO) – Sri Lankan tea prices fell on lower demand at the Colombo auctions this week, continuing a downward trend that mirrors the slump in global commodities, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to 678 The lower prices means lower […]
‘s LIOC draws interest as share trading dries up
Oct 17, 2008 (LBO) – Sri Lankan shares ended almost flat after fluctuating in thin trading Friday with petroleum retailer Lanka Indian Oil Corp (LIOC) drawing interest on weaker oil prices, brokers said. The stock ended down two percent (1.50 rupees) at 72.50 rupees with 589,500 shares traded. Dialog Telekom gained 25 cents to end […]
’s emerging middle class spend more on convenience
Oct 16, 2008 (LBO) – Changing Sri Lankan middle class consumer habits and inflation reducing spending power is forcing consumer goods marketers to change strategies to keep growth ticking. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Emerging middle class consumers are showing a growing preference for […]