Author: lbostgadmin
Mediterranean tuna ranches feel pinch as EU halts fishing
MARSAXLOKK, July 3, 2008 (AFP) – Mediterranean tuna ranches are feeling the pinch after the European Union moved to prevent the depletion of fish stocks.“This year, we will probably process only 500 tonnes,” said Saviour Caruana, a co-owner of Fish and Fish, a bluefin tuna ranch with a capacity of 1,200 tonnes. “I had given […]
Sri Lanka Maskeliya estate profits, management fees, up
July 3, 2008 (LBO) – Sri Lanka’s Maskeliya Plantations has reported a five fold increase in profits amid better export prices for tea, but steep management fees, interest and wages costs have kept profits in check.The firm charged 86 million rupees in interest to the profit and loss account, and said 183 million rupees on […]
Bank Rating
July 3, 2008 (LBO) – Fitch Ratings Lanka has confirmed Sampath Bank’s local long-term rating of ‘AA-(lka)’ with a stable outlook. It also confirmed the ratings on the bank’s outstanding unsecured debentures of 3.3 billion rupees at ‘A+(lka)’, and the bank’s Individual and Support ratings at ‘D/E’ and ‘5’. “The ratings reflect Sampath Bank’s strong […]
Bond Deal
July 3, 2008 (LBO) – Sri Lanka’s Peoples’ Leasing Company (PLC) is selling a billion rupee 5-year bond to extend the maturity of its short term borrowings, Fitch Ratings which gave the security a ‘BBB+(lka)’ rating said. The leasing company, which is rated ‘A-(lka)’ with a ‘stable’ outlook, is planning to list the subordinated, unsecured […]
Sri Lankan share prices sink again
July 03, 2008 (LBO) – Sri Lankan shares sank again Thursday with large trades in John Keells Holdings boosting turnover, brokers said.The All Share Price Index fell 0.55 percent (13.29 points) to end at 2,420.06 while the more liquid Milanka was down 1.11 percent (32.59 points) to 2,913.77. Turnover was 530 million rupees. “Foreigners were […]
Sri Lanka fuel subsidy cuts a good move: Daim
July 2, 2008 (LBO) – Cutting fuel subsidies when the national budget is de-stabilized is a necessary move to keep the economy stable and development ticking, former Malaysian finance minister Daim Zainuddin has said.In Sri Lanka, left-oriented political parties led by the Janatha Vimukthi Peramuna (JVP) pushed state policy towards subsidizing imported commodities from mid-2004 […]
Sri Lanka government treasury chief says subsidies inefficient
July 02, 2008 (LBO) – The Sri Lankan government treasury secretary P B Jayasundera has described subsidies as an inefficient way of managing economic affairs and said the government was moving to reduce the burden of handouts with price increases in a range of commodities. “Any form of subsidy is inefficient,” Jayasundera, who is also […]
‘s war against journalists a conspiracy: President
July 2, 2008 (LBO) – Sri Lanka’s continuing attacks on the media is a conspiracy to discredit the government, President Mahinda Rajapakse said, while the latest assault against a mediaman and a UK embassy staffer drew new condemnation.At a time when the government was fighting terror and implementing development projects, there were moves to de-stabilize […]
Sri Lankan media offers reward for tips on attackers
July 02, 2008 (LBO) – The Sri Lanka Press Institute (SLPI) and the Newspaper Publishers Association are offering a reward of five million rupees for information on the assault on journalist Namal Perera.Informants could give information that lead to the arrest of the assailants by calling 0033 147 777 414 or sending emails to helppresssrilanka@gmail.com, […]
Sri Lanka journalists protest over attacks
July 2, 2008 (AFP) – Hundreds of Sri Lankan reporters and cameramen staged a protest outside President Mahinda Rajapakse’s home Wednesday demanding an end to a wave of killings, abductions and assaults against journalists.Media workers’ associations peacefully demonstrated outside the main access to Rajapakse’s Temple Trees residence while dozens of unarmed police stood behind yellow […]
”: UNEP
NAIROBI, July 02, 2008 (AFP) – A green “gold rush” is underway, the UN Environment Programme (UNEP) said as it announced a 60 percent rise in new investment entering the sustainable energy sector in 2007.More than 148 billion dollars (93 billion euros) of new funds were ploughed into the quest for cleaner energy last year. […]
Bangladesh hikes bus fares 20 pct: official
DHAKA, July 2, 2008 (AFP) – Impoverished Bangladesh hiked bus fares 20 percent Wednesday following a controversial rise in state-set fuel prices, an official said, as Asia continued to reel from soaring crude oil costs.The government said the new fares were introduced after some operators had unilaterally raised fares up to 50 percent following Bangladesh’s […]