Author: lbostgadmin
Sri Lankan military says 29 killed in fresh fighting
July 24, 2008 (AFP) – At least 25 Tamil Tiger rebels and four soldiers have been killed in fighting and air strikes across Sri Lanka’s northern region, the defence ministry said Thursday. The ministry said the clashes between troops and members of the Liberation Tigers of Tamil Eelam (LTTE) happened Wednesday and brought the number […]
Sri Lanka Coke unit in plastic bottle recycle venture
July 24, 2008 (LBO) – The Sri Lankan unit of soft drinks maker Coca Cola has teamed up with Manisha Polymer, a local firm, to recycle plastic bottles.“We want to be a part of the solution and not the problem,” says Basil Gadzios, country manager, Coca Cola Beverages Sri Lanka. The firm has been selling […]
Shock Waves
July 24, 2008 (LBO) – A landmark court ruling against Sri Lanka’s John Keells group involving the privatization of a profitable marine bunkering unit which was coupled with a tax holiday, is sending shockwaves through the island’s private and public sectors. Sri Lanka’s Supreme Court said JKH had got a tax break through a ‘false […]
Sri Lanka stocks firm, turnover thin
July 24, 2008 (LBO) – Sri Lankan stocks closed up for the second day Thursday after a long slide but thin turnover showed investors opted to stay out of the market owing to uncertainties about corporate earnings. The All Share Price Index closed up 0.86 percent (20.34 points) at 2,376.87 while the Milanka was up […]
Sri Lanka will not sign economic pact with India: minister
July 24, 2008 (LBO) – Sri Lanka will not sign an economic pact with India until fears of local industrialists and professionals which suddenly cropped up despite four years of discussions are allayed, the island’s international trade minister said.On the same day, Wimal Weerawansa, a Marxist-nationalist lawmaker, challenged the government to release the draft CEPA […]
Sri Lanka business chamber to form broad alliance for peace
July 23, 2008 (LBO) – The private sector of Sri Lanka must join together to work towards ending the conflict to attain peace and development, the newly appointed chairman of the Ceylon Chamber of Commerce (CCC) said. The 25-year ethnic conflict has affected the trade and commerce sector and slowed down the country’s growth, said […]
”s attack at bay
July 23, 2008 (AFP) – Sri Lankan opener Malinda Warnapura defied India’s attack with an unbeaten half-century on the opening day of the rain-hit first Test here on Wednesday. India captain Anil Kumble also pressed Sourav Ganguly and off-spinner Harbhajan Singh into the attack in a bid to get one more wicket, but Warnapura and […]
US bank Wachovia scorched with US$8.7bn loss
NEW YORK, July 22, 2008 (AFP) – Banking giant Wachovia took a hit from the US housing slump with a quarterly loss announced Tuesday of 8.662 billion dollars but its shares surged as it unveiled job cut and other steps to shore up its finances. The loss amounted to 4.20 dollars per share, far above […]
Australian inflation rises to 4.5 percent
SYDNEY, July 23, 2008 (AFP) – Australia’s annual inflation rate jumped to 4.5 percent in June, official data showed Wednesday, as Treasurer Wayne Swan warned of the toughest economic conditions in 25 years. The increase from 4.2 percent over the year to March had taken inflation to its highest level since late 1995, excluding a […]
India will not give ground in industrial field: Nath
GENEVA, July 23, 2008 (AFP) – India hinted on Wednesday that it is prepared to see WTO talks founder if rich countries do not take big strides towards developing countries on industrial issues.Indian Commerce Minister Kamal Nath warned that talks on a global trade deal at the World Trade Organization could founder if developed nations […]
Sri Lanka capital to get direct link to Dhaka with Best Air
July 23, 2008 (LBO) – Best Air, a private Bangladeshi carrier, will start direct flights from Dhaka to the Sri Lankan capital Colombo catering to growing traffic between the two countries, an official said. Best Air chairman Haider Uzzaman said they plan to start with two flights a week to Colombo and Male on Fridays […]
Dashboard View
July 23, 2008 (LBO) – Sri Lankan firms can gain more benefits by choosing software that is flexible to match the size and growth of a company and can be easily customized, a software vendor has said.Zillione Systems which launched Sage AccPac 5.5 for local customers this month, says the ERP (enterprise resource planning) accounting […]