Author: lbostgadmin
Indian government survives confidence vote: state TV
NEW DELHI, July 22, 2008 (AFP) – India’s government on Tuesday survived a parliamentary confidence vote that could have led to early polls and scuppered a nuclear energy deal with the United States, state television showed.A total of 253 deputies backed the government, 232 voted against and two abstained, according to results from electronic voting […]
Sri Lanka-India trade deal proponents emphasise benefits
July 22, 2008 (LBO) – Sri Lankan proponents of a new trade and investment treaty with India say the island should go ahead with the deal as it gives access to a fast-growing economy with a huge market. Mano Selvanathan, president of the Indo-Lanka Chamber of Commerce and Industry, says safeguards built into the proposed […]
Sri Lankan Airlines to reduce flights to cut costs
July 22, 2008 (LBO) – Sri Lankan Airlines plans to reduce flights to cut costs amid soaring fuel prices but said the new schedule would not affect key passenger segments like tourists and migrant workers. The state-owned airline said in a statement it will go ahead with re-fleeting plans by replacing four old aircraft with […]
Sri Lanka Tigers declare ceasefire for S. Asia summit
July 22, 2008 (AFP) – Sri Lanka’s separatist Tamil Tiger rebels declared Tuesday a ceasefire with the military during a 10-day meeting of South Asian leaders starting here this week.There was no immediate comment from Colombo on the ceasefire. Sri Lanka’s army chief said last week that his forces had wiped out two-thirds of the […]
Sri Lanka summit to consider trade, food security moves
July 22, 2008 (LBO) – South Asian leaders holding a summit in the Sri Lankan capital Colombo next months will consider setting up common standards for goods made in the region as well as a food crisis fund and buffer stocks, a senior official said. Foreign Affairs Minister Rohitha Bogollagama said south Asian leaders are […]
SMS Business
July 22, 2008 (LBO) – Sri Lankan business news from Lanka Business Online (LBO) is now available on Dialog SMS, giving the opportunity for people on the move to be in touch with the latest breaking business news.Dialog subscribers have to type ‘act lbo’ (act-space-lbo) and send to 678 to activate the service. The first […]
Forex Accounts
July 22, 2008 (LBO) – Commercial Bank said it has begun accepting deposits from foreigners and Sri Lankan expatriates after the Central Bank relaxed foreign exchange rules. Special Foreign Investment Deposit Accounts (SFIDA) can be opened in designated foreign currencies and Sri Lankan rupees, it said in a statement. The minimum initial deposit required to […]
Sri Lanka stocks slump; losses in JKH, Janashakthi Insurance
July 22, 2008 (LBO) – Sri Lankan shares slumped 1.76 percent Tuesday, dragged down by losses in heavyweights like John Keells Holdings (JKH), as investors digested the news about a court ruling against the conglomerate’s lucrative bunker business.Debutant Janashakthi Insurance fell further as did several index-heavy stocks. The All Share Price Index shed 41.94 points […]
India to raise fishermen issue with Sri Lanka at regional summit: report
July 21, 2008 (LBO) – India’s prime minister has promised to raise the issue of alleged attacks by the Sri Lanka navy on Indian fishermen at a South Asian regional summit next month, a media report said.India’s Economic Times newspaper said the Tamil Nadu Congress president K V Thangkabalu had led a delegration to meet […]
Sri Lanka gets World Bank help to improve economic statistics, oversight
July 21, 2008 (LBO) – Sri Lanka is getting a 22.6 million US dollar credit from the World Bank’s concessionary window to improve the government statistics and audit offices, the multilateral lender said. “This project will help the government to further strengthen statistical capacity and audit functions which are at the core of public administration […]
Sri Lanka minister rejects cricket manager
July 21, 2008 (LBO) – Sri Lanka’s sports minister has rejected a nomination to appoint former test cricketer Hashan Tillekeratne as manager of the national cricket team for an upcoming Indian tour. Sports minister Gamini Lokuge told our sister website Vimasuma.com Monday that he received the nominations of the Sri Lanka contingent for the Indian […]
Economy top concern for voters as White House race heats up
WASHINGTON, July 21, 2008 (AFP) – The sputtering economy has asserted itself as the main concern for US voters less than four months ahead of presidential elections, and with an avalanche of alarming new data it appears unlikely that will change. While crude oil prices fell more than 16 dollars per barrel in the past […]