Author: lbostgadmin
Sri Lanka tourism to lure Indians on a legendary trail
Dec 17, 2007(LBO) – Sri Lanka plans to attract more Indian tourists next year on the trail of a legendary tale where an Indian prince was said to have come to the island to rescue his kidnapped wife, officials said. Sri Lanka’s Tourism Promotion Bureau says Sri Lanka has 34 sites related to the ancient […]
Changes
Dec 17, 2007 (LBO) – Senior central banker P M Nagahawatte would be appointed as chairman of the National Development following the resignation of its long-time chairman, the bank said Monday. S K Wickremesinghe who was chairman of NDB for nine years has resigned with effect from January 01. Sena Yaddehige has been confirmed as […]
Sri Lanka stocks weaker, rupee steady
Dec 17, 2007 (LBO) – Sri Lanka stocks closed 0.55 percent lower amidst lackluster trading Monday, while the rupee was steady against the greenback at 108.95/109.00 dealers said. The All Share Index fell 13.75 percent to close at 2,493.27 while the Milanka Index of liquid stocks ended the day at 3,253.5, 0.6 percent lower (down […]
Sri Lanka talks with Russia, India on arms buys
Dec 16, 2007 (AFP) – Sri Lanka will meet with Indian and Russian delegations this week on possible arms purchases including air defence weaponry as clashes with Tamil Tiger rebels escalate, press reports here said Sunday. Defence officials from India and Russia will hold separate talks with Sri Lankan authorities on improving systems used against […]
Sri Lanka Tiger supremo wounded in air attack: report
Dec 16, 2007 (AFP) – Sri Lanka’s elusive Tamil rebel supremo was wounded in an air strike last month by security forces shortly after his annual policy broadcast, a privately-run newspaper here reported Sunday.The Nation newspaper said Velupillai Prabhakaran, leader of the Liberation Tigers of Tamil Eelam (LTTE), was wounded in an underground bunker in […]
Cricket returns to Sri Lanka tsunami-hit stadium
GALLE, Sri Lanka, Dec 16, 2007 (AFP) – England and Sri Lanka will mark one of cricket’s most poignant moments when they contest the third Test at the previously tsunami-ravaged Galle International Stadium from Tuesday. The stadium, situated close to the Indian Ocean in the country’s coastal south, was destroyed by the Asian tsunami in […]
Toyota to expand output to near 10 million units in 2008: report
TOKYO, Dec 16, 2007 (AFP) – Japanese car giant Toyota Motor Corp. plans to raise its global output to near 10 million units next year, out-distancing its rival General Motors Corp. of the United States, a news report said Sunday. While Toyota is expanding its overseas production facilities, GM has been laying off workers and […]
Cyber dis-intermediation hits banking
SAN FRANCISCO, Dec 15, 2007 (AFP) – The Internet is directly connecting investors and borrowers, letting them take banks out of the lending equation and put their money where their hearts and dreams are. People have lent each other more than 100 million dollars through Prosper.com since it launched in February of 2006 and the […]
US heading to recession, Morgan Stanley Asia chairman says
SYDNEY, Dec 16, 2007 (AFP) – The US is heading for a recession and the rest of the world would be “dead wrong” to think this will not impact on growing Asian economies, Morgan Stanley senior executive Stephen Roach said Sunday.In an interview with Sky News in Australia, Roach said the US Federal Reserve Bank […]
More Control
Dec 16, 2007 (LBO) – Sri Lanka plans to have new laws and make better use of information technology to crackdown on human trafficking and illegal worker migrants, some of whom are under-aged, officials said. Poverty and inadequate laws and co-ordination among government agencies are the reasons large numbers of migrant workers use illegal methods […]
‘s inflation rockets to 24.1-pct amidst record money printing
Dec 15, 2007 (LBO) – Sri Lanka’s country-wide inflation hit a record 24.1 percent in October 2007, following one of the worst bouts of money printing seen since the island’s central bank was created five decades ago. The Sri Lanka Consumer Price Index (SLCPI) devised a decade ago to reflect the modern spending patterns of […]
Sri Lankan Tamil Tiger arms dealer jailed in U.S.
Dec 15, 2007 (LBO) – A United States federal court has jailed an Indonesian arms dealer who sought weapons for Sri Lanka’s Tamil Tigers, U.S. media reports said Saturday. Haniffa Bin Osmana, described as a representative for the Tamil Tigers was convicted of arms dealing in federal court in Baltimore. He had wanted grenade launchers […]