Author: lbostgadmin
New Partner
April 01, 2008 (LBO) – Malaysia’s Usaha Tegas (UT) group said it was looking to provide management input to Sri Lanka Telecom (SLT) and work with its major shareholder, Sri Lanka’s government, after buying a third stake in the telco. The UT group bought a 35.19 percent stake in SLT through Global Telecommunication Holdings (GTH), […]
Carrot& Stick
April 01, 2008 (LBO) – Tight new immigration regulations that came into effect on April 01, will ban rule breakers from visiting Britain for ten years, but illegal immigrants would also be an amnesty leave, the UK High Commission (embassy) in Colombo said. “We will now prevent anyone who has previously broken our immigration laws […]
Media Trend
April 01, 2008 (LBO) – Fragmented audiences in traditional media like television and radio have made commercial inserts in programs less effective especially to reach urban consumers, marketers in Sri Lanka have said. This was pushing advertisers into emerging new media such as the internet, mobile and to sales points. Conventional advertising on television, radio […]
Sri Lanka expert panel urges action on community-based tourism
April 01, 2008 (LBO) – A growing demand for community-based tourism services from global travelers is creating new opportunities to boost incomes of poorer communities provided their inputs are bought at good prices. “Tourism has undeniable potential for pro-poor economic development in Sri Lanka,” Sri Lanka’s tourism ministry said in a statement. “Community heritage and […]
New Faces
April 01, 2008 (LBO) – RAM Ratings (Lanka) Tuesday announced Siti Norma Yaakob has been elected as the new chairman of the firm and its parent company, RAM Holdings Berhad. It also announced the appointment of three new directors: Zainal Aznam, Syed Md Amin and Yeah Kim Leng. Siti Norma is the former Chief Judge […]
Sri Lanka consumer prices hit new record in March 2008
Mar 31, 2008 (LBO) — Consumer prices in Sri Lanka’s capital Colombo measured by a controversial new index hit 23.8 percent in the 12-months to March, while an older index hit a record high of 28.1 percent, government data showed. . The price rises came after at least three months of tight monetary policy and […]
‘s US dependence falling, but global downturn may worsen
Mar 31, 2008 (LBO) – Falling dependence on the US economy will allow Sri Lanka to ride out a recession in that country, a top central banker said, amid warnings that the current global turmoil may become deeper. Economics Research chief of Sri Lanka’s central bank P N Weerasinghe said the share of exports to […]
Jayawardene promises new boys extended Sri Lanka run
PORT OF SPAIN, Trinidad, March 31, 2008 (AFP) – Sri Lanka captain Mahela Jayawardene has assured Malinda Warnapura and Thilan Thusara that they can expect an extended run in the national team. Warnapura starred with scores of 120 and 62 in Sri Lanka’s opening Test win by 121 runs against West Indies last week at […]
Britain and US create financial working group: report
LONDON, March 31, 2008 (AFP) – Britain and the US are finalising plans to create a working group that will put together proposals to better monitor and regulate the financial system, the Financial Times reported Monday. Citing unnamed senior British finance ministry officials, the business daily said the plans were agreed Wednesday by British Chancellor […]
Lehman Bros. sues Marubeni over investment scam
TOKYO, March 31, 2008 (AFP) – Lehman Brothers on Monday sued Japan’s Marubeni Corp.for about 350 million dollars over a bogus investment scheme allegedly involving two employees of the trading giant. Lehman Brothers filed a lawsuit with the Tokyo District Court seeking compensation of 35.2 billion yen (352 million dollars) from Marubeni, said a spokeswoman […]
Switched Off
Mar 31, 2008 (LBO) – Sri Lanka has terminated a scheme that gave tax-slashed cars to state workers from today and no new applications would be entertained, the finance ministry said. State workers who have been issued tax slashed import permits but have not opened letters of credit by March 31 would not be able […]
Sri Lankan director in Indian Tamil trouble
CHENNAI, India, March 30, 2008 (AFP) – A Sri Lankan film-maker has ended up in hospital after making a damning film on the Tamil Tigers and trying to have it processed in a studio in a Tamil-majority region of neighbouring India.Thushara Peiris was set upon by a furious mob outside Gemini Studios in Chennai, capital […]