Author: lbostgadmin
Port Race
May 02, 2008 (LBO) – The Asian Development Bank (ADB) said Friday it has reached agreement with the Sri Lankan government on a 300 million dollar loan to go ahead with a long-delayed project to expand Colombo port. Although the new south port project was approved by ADB early last year, changes in government bidding […]
Toll Expressway
May 02, 2008 (LBO) – The highway from the Sri Lankan capital Colombo to hill country town of Kandy will be developed into a toll expressway at a cost of 30 billion by a Malaysian contractor, a senior government official said Friday.“We have an offer from Malaysia, a consultancy firm, and they have prepared their […]
Sri Lankan shares becalmed; Lanka Cement up
May 02, 2008 (LBO) – Sri Lankan shares closed virtually flat Friday in thin trading with Lanka Cement, which has been moving on speculative trading, ending firmer, brokers said. The All Share Price Index was barely changed, up just 2.78 points (0.11 percent) to 2,635.74 while the more liquid Milanka index fell 1.98 points (0.06 […]
Sri Lanka signs up more money to broaden highway
May 01, 2008 (LBO) – Sri Lanka has signed up additional funds to augment a highway to the south of the island which is jointly financed by the Asian Development Bank and the Japan, the finance ministry said. The 90 million dollar supplementary loan will finance a 29.3 kilometre stretch on the Southern Highway starting […]
Sri Lanka gets Dutch aid to build big fisheries harbour
May 01, 2008 (LBO) – Sri Lanka has signed a deal with the Netherlands government to get eight billion rupees (44.9 million euro) in aid to build a fisheries harbour to accommodate deep sea trawlers and develop the island’s fishing industry. The port will be built in Dikowita on the western coast, fisheries minister Felix […]
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UNITED NATIONS, April 30, 2008 (AFP) – India, the Philippines, Mexico and Colombia — all democracies — were cited Wednesday among 13 countries with the poorest records of prosecuting murders of journalists, in a list released by the Committee to Protect Journalists (CPJ). The CPJ noted that while Iraq, Sierra Leone and Somalia, all four […]
‘s top four: study
PARIS, April 30, 2008 (AFP) – Three Chinese institutions were among the world’s top four banks at the end of 2007 at a time when the market capitalisation of Western banks was suffering from a global financial crisis, a study showed Wednesday.The number one spot in the rankings, compiled by the Boston Consulting Group, was […]
‘s Reliance Communications up 46.8 percent
MUMBAI, April 30, 2008 (AFP) – India’s second-biggest telecoms firm Reliance Communications reported Wednesday its fourth quarter net profit rose 46.8 percent on revenue growth across its businesses.The company showed a net profit of 15.03 billion rupees (374 million dollars) for the three months ended March 31, up from 10.24 billion rupees a year earlier. […]
Not enough regulation in some tax havens: British report
LONDON, May 1, 2008 (AFP) – There is too little regulation of financial services industries in British overseas territories like Bermuda and the British Virgin Islands, an official report said Wednesday.The study, by the influential House of Commons Public Accounts Committee, looked at Foreign Office activity in Britain’s 14 overseas territories, including the two low-tax […]
‘s rise hits China-based exporters: US business leader
WASHINGTON, April 30, 2008 (AFP) – The rapid appreciation of the Chinese currency against the US dollar is taking a big toll on Asian companies using China as base for exports to the United States, according to a top US business official. The yuan has risen 18 percent against the dollar since China abandoned a […]
India steelmaker Essar seals deal for US steel firm for 1.1 bln dlrs
NEW DELHI, May 2, 2008 (AFP) – Indian steelmaker Essar Steel said Thursday it planned to acquire US steel company Esmark, valuing the deal at 1.1 billion dollars, as it pushes ahead with an aggressive North American expansion drive.With the planned buy, Essar will have nearly seven million tonnes of steelmaking capacity in the United […]
Sri Lankan police arrest UN aid worker for carrying pistol
April 30, 2008 (AFP) – Sri Lanka Wednesday arrested a local staff member attached to a United Nation organisation for carrying a pistol with him, the defence ministry said. Thiagaraja Prabhakaran, working with the World Food Programme office in the northern district of Kilinochchi, was held while he was being searched at a roadblock in […]