Author: lbostgadmin
No play after lunch in England-Sri Lanka Test
GALLE, Sri Lanka, Dec 21, 2007 (AFP) – A heavy downpour that began at the lunch interval washed out the afternoon session on the fourth day of the third and final cricket Test between England and Sri Lanka here on Friday. Continued wet weather has been forecast for the next 48 hours. The ground was […]
Spurned Tatas want apology from Orient-Express hotels
NEW DELHI, Dec 20, 2007 (AFP) – India’s Tata Group has demanded an apology from US-listed luxury hotel chain Orient-Express for rejecting its offer for a strategic tie-up on the grounds that its brand value might be diluted.Assocham, an Indian chambers of commerce body, slammed Orient-Express’s rebuff as one of “arrogance toward one of India’s […]
Sri Lanka insurers may escape sweeping downgrades over govt. move: Fitch
Dec 21, 2007 (LBO) – Fitch Ratings says Sri Lankan insurance firms may avoid sweeping downgrades after the government partially rolled back plans to force firms to re-insure with the state. “It is now envisaged that no insurance ratings in Sri Lanka will be affected by the introduction of the fund.” Sri Lanka only has […]
Banished Sri Lankan air chief to run firm from Dubai
Dec 21, 2007 (LBO) – SriLankan Airlines chief Peter Hill would continue to run the airline from Dubai after his resident visa in the island was revoked by the government, managing shareholder Emirates Airlines said. SriLankan Airlines is 43.6 percent owned by Dubai-based Emirates air, and Hill was seconded to the airline in 1998 after […]
Literary Climate
Dec 21, 2007 (LBO) – Sri Lanka’s second international literary festival in Galle next year will focus on the theme climate change and would reach out to get a new generation interested in English, its organizers said. The Galle festival was named as one of the best literary festivals in the world, by the American […]
Watching Brief
Dec 21, 2007 (LBO) – Lanka Rating Agency said Friday it had placed BB3 rated Multi Finance Company on rating watch, pending a take-over from the Ceylinco group. Multi Finance, a small privately held finance company founded in the 1974, will initially get a 70 million rupee capital injection from Ceylinco Shriram Securities Holdings. Ceylinco […]
Easier Shipments
Dec 21 (LBO) – The threat of higher freight rates on Sri Lankan exports to Europe is easing, former Sri Lanka Shippers’ Council chairman Jayanath Perera said. Exporters were forced to pay high rates six months ago when a surge in Chinese exports led to space shortages for Sri Lankan cargo on ships calling Colombo […]
Northern Hunt
Dec 20, 2007 (LBO) – Sri Lanka plans to invite oil companies to explore for petroleum deposits in new areas in the north of the island, a senior minister said, where Tamil Tiger rebels are active. The petroleum ministry has been given the government nod to kick off exploration in the Sri Lankan side of […]
Sri Lanka has chance for political settlement now: US Ambassador
Dec 20, 2007 (LBO) – One of the best ways to combat poverty and inequality in Sri Lanka is to complete the all party process and the government has been given that opportunity with the passing of the budget, the United States envoy in Colombo said. Completing All Party Representatives Committee (APRC) will also lay […]
Sri Lanka declare at 499-8 in final England Test
GALLE, Sri Lanka, Dec 20, 2007 (AFP) – Skipper Mahela Jayawardene hit an unbeaten 213 as Sri Lanka declared their first innings at 499-8 before lunch on the third day of the final cricket Test against England here on Thursday.Sri Lanka, who lead the three-match series 1-0, have eight sessions to force a 2-0 scoreline […]
” but severely undervalued
WASHINGTON, Dec 20, 2007 (AFP) – The US government declined to name China a currency “manipulator” but said in a report Wednesday that the Chinese yuan remains severely undervalued against the dollar.The Treasury, in a semiannual report to Congress, maintained its position that China should quicken its pace of economic reforms that would help lift […]
‘s Deccan and Kingfisher airlines to merge
BANGALORE, India, Dec 20, 2007 (AFP) – India’s biggest discount carrier, Deccan, will merge with liquor baron Vijay Mallya’s upmarket Kingfisher Airlines to create the nation’s biggest domestic airline, officials said.The firm formed by the merger next year will keep the name Kingfisher, the flagship beer brand of Mallya’s UB Group, officials from the two […]