Author: lbostgadmin
Sri Lanka union veteran bemoans muted voice of workers and lost freedoms
Jan 30, 2008 (LBO) – A veteran Sri Lankan trade unionist says the voice of the working class is now muted and people are battling to survive as prices are rising and terrorism is spreading to all corners of the land. “This is a great misfortune to the country. If there is no voice for […]
‘s Jaffna peninsula sees heavy fighting
Jan 30, 2008 (AFP) – Heavy fighting gripped Sri Lanka’s Jaffna peninsula Wednesday with both Tiger rebels and government forces claiming they had the upper hand after smashing each other’s fortifications.The rebel Liberation Tigers of Tamil Eelam (LTTE) said they resisted a pre-dawn three-pronged assault in the area, one of several points from where government […]
‘s cricket XI
CANBERRA, Jan 30, 2008 (AFP) – Sri Lanka kicked off their limited overs tour of Australia in good style, beating the Prime Minister’s XI by four wickets here Wednesday. Some quality fast bowling by the tourists helped them dismiss the PM’s XI, which featured some of Australia’s best young players, for just 152 after they […]
IMF lowers global growth forecast, citing financial crisis
WASHINGTON, Jan 29, 2008 (AFP) – The International Monetary Fund on Tuesday lowered its 2008 global growth outlook, citing a US slowdown and financial market turmoil that have put emerging economies at risk. The global economy is poised to grow 4.1 percent this year, down 0.3 percentage points from a previous estimate, the IMF report […]
Coal prices surge to catch up with oil
SYDNEY, Jan 30, 2008 (AFP) – Floods in Australia, freezing weather in China and transport bottlenecks in Indonesia have helped stoke a sharp rise in the price of coal, putting pressure on Asian consumer industries. Soaring demand from China and India as their economies steam ahead has also combined to push the cost of the […]
Singapore ready to bailout another global bank: newspaper
SINGAPORE, Jan 30, 2008 (AFP) – The Government of Singapore Investment Corporation (GIC), fresh from multi-billion-dollar capital injections into troubled global financial institutions, has the capacity for an additional bailout, a report said Wednesday. “We will look at any deal that is shown to us.We have a duty to do so. We would still have […]
‘s Maluku, tsunami alert sounded
JAKARTA, Jan 30, 2008 (AFP) – A strong 6.6-magnitude earthquake rocked the eastern Indonesian province of Maluku on Wednesday, prompting the issuing of a tsunami alert, the meteorology and geophysics office said here.The earthquake, which struck at 4:32 pm (0732 GMT) was centered 300 kilometres (185 miles) northeast of the East Timorese capital Dili, some […]
High Rises
Jan 30, 2008 (LBO) – Sri Lanka™s condominium regulator has issued over 200 certificates for high rises that are coming up in and around the capital, a top official said. “We have issued 183 full and complete certificates, and several semi-condominium certificates, Condominium Management Authority chief Abul Kalam said A semi-condominium certificate is issued to […]
Growth Numbers
Jan 30, 2008 (LBO) — Sri Lanka’s Nations Trust Bank profits surged 56 percent to 504 million in 2007 as revenues grew 54 percent to 9.1 billion rupees, the company said.In the December quarter its profits grew 64 percent to 151 million rupees as revenues grew 109 percent to 2.7 billion rupees. “Despite loans and […]
Asset Backed
Jan 30, 2008 (LBO) – Fitch Sri Lanka has confirmed an ‘A-(lka)’ rating on lease backed trust certificates (LBTCs) issued by Peoples’ Leasing Company, the rating agency said, as it kept close watch to ensure that delinquent and prepaying loans were replaced. Peoples’ Leasing Company (PLC) is also rated ‘A-(lka)’ with a ‘stable’ outlook. The […]
Sri Lanka treasury yields steady, tap open
Jan 30, 2008 (LBO) — Average yields at a Treasury bill auction remained steady Wednesday but the government was fishing for more cash after the auction, dealers and the debt office said. Treasuries were extensively sold on ‘tap’ after the auction by the debt office, which is part of the Central Bank, in December 2007, […]
Airport Link
Jan 29, 2008 (LBO) – India’s Cochin International Airport Limited (CIAL) says it is interested in building an airport in southern Sri Lanka and a delegation is visiting the island this week for talks. Sri Lanka has proposed a second international airport in the southern town of Weerawila in the Hambantota district. CIAL said its […]