Author: lbostgadmin
Terror threat from South Asia still top US concern
WASHINGTON, May 14, 2008 (AFP) – The United States has poured nearly 40 billion dollars in aid to South Asia since the September 11 attacks but the terror threat from the region remains a top problem, a congressional hearing was told Wednesday. “South Asia is arguably the place from which America faces the greatest terrorist […]
Japan should be allowed to re-sell US rice: NGO
WASHINGTON, May 14, 2008 (AFP) – The United States should allow Japan to sell its 1.5 million tons of imported US rice or give it to the World Food Program to help cool runaway rice prices, a nongovernmental organization said Wednesday. “An agreement by Washington and Tokyo for Japan to release its 1.5 million tons […]
German inflation cut to 2.4 percent in April
FRANKFURT, May 15, 2008 (AFP) – Inflation in Germany fell to 2.4 percent in April from 3.1 percent in March, but remains above the European Central Bank’s target of just below two percent, data confirmed Thursday. Final figures for the annual inflation rate released by the statistics office confirmed a preliminary estimate based on a […]
US House passes subsidy-heavy farm bill
WASHINGTON, May 14, 2008 (AFP) – The US House of Representatives Wednesday passed a mammoth 290 billion dollar farm bill with a veto-proof majority, which includes subsidies for farmers and help with food bills for the needy.The 100-seat Senate was likely to pick up the bill as early as Wednesday night, where sponsors also hoped […]
Sri Lanka Allianz unit offers directors and officers liability insurance
May 15, 2008 (LBO) – Allianz Insurance Lanka has launched a business unit to provide directors and officers (D&O) liability insurance to Sri Lanka’s private and public corporates. The insured are indemnified for defense costs and any legal claims, according to a statement by the company, a fully owned subsidiary of Munich headquartered conglomerate Allianz. […]
‘s restive north: military
May 15, 2008 (AFP) – Sri Lankan troops smashed rebel bunkers and traded fire with guerrillas across the island’s north, leaving at least 25 people dead in total, the defence ministry said Thursday. The ministry said security forces carried out “limited operations” in the regions of Mannar, Weli Oya, Vavuniya and Janakapura on Wednesday, as […]
LBR-LBO CEO Forum
May 15, 2008 (LBO) – Strategy in business continuously changes and businesses must plan and adopt strategies by studying key market components for better results, a top Sri Lanka business executive said. When executing strategy, companies must understand their consumer, competitors, the role of the economy, the supply side and distribution lines in relation to […]
Merchant Rating
May 15, 2008 (LBO) – RAM Ratings has confirmed Merchant Bank of Sri Lanka’s (MBSL) long-term local rating of AA- with a stable outlook, saying the rating is supported by state-run Bank of Ceylon, its parent. RAM also confirmed MBSL’s short term rating of P1 and the AA rating assigned to unlisted debentures of 300 […]
Outstation Opportunity
May 15, 2008 (LBO) – Bartleet Finance, part of Sri Lanka’s Bartleet group, is considering setting up a branch in northern Jaffna and expanding in rural areas where officials say there is much potential. Managing director Susantha Fernando said the firm faced difficulties this year because of soaring interest rates but believes rates have now […]
Port Contract
May 15, 2008 (LBO) – Sri Lanka has approved the award of a 46 million euro contract for a Denmark based firm to build a port in the eastern coast of the island, a senior minister said. The cabinet of ministers had given the go ahead for MT Hojgaard to build a port in the […]
Sri Lanka to re-issue forex bonds in US dollars and euros
May 15, 2008 (LBO) – Sri Lanka has started the process of re-selling a maturing 250 million dollar bond issue targeted at resident investors by calling for agents to market and sell the bond. Sri Lanka is expected to wrap up a 150 million dollar 3-year loan arranged by Standard Chartered Bank this month, with […]
Sri Lanka govt needs to act quickly to consolidate east: analysts
May 14, 2008 (AFP) – The Sri Lankan government may be celebrating a key election victory in the ethnically-mixed east but it is still a long way from winning over the island’s Tamil minority, analysts and observers say.The polls on Saturday saw voters in the east give President Mahinda Rajapakse’s ruling coalition control over a […]