Author: lbostgadmin
No Scams
December 13, 2007 (LBO) – Organizers of a Sri Lankan advertising award scheme say they would clamp down on ‘scam’ ads, which are especially made to win awards but are not widely placed in media. This year the steering committee of the ‘Chillies 2008’ awards has devised stringent rules to counter such scam ads. According […]
Upturn
Dec 13, 2007 (LBO) – Sri Lanka saw more foreign visitors in November with Western Europe, a key generating market rallying 40 percent to drive total arrivals up by 20 percent, the tourism promotion office said. Arrivals from UK grew 53 percent to 7,938, Germany 24 to 4,005 while the Netherlands grew 85 percent to […]
Equity Injection
Dec 13, 2007 (LBO) – Sri Lanka’s Nations Trust Bank is making a one billion rupee cash call sweetened with warrants, giving an option to buy into the bank at a fixed price in 2010 and 2011, the company said Thursday. NTB has 31 branches, 8 leasing centers, 38 teller machines and issues American Express […]
Sri Lanka inflation index controversy takes new turn
Dec 12, 2007 (LBO) – A controversial new inflation index that claims to show lower inflation in Sri Lanka has completely dropped alcohol and tobacco from its market basket, an official statement has revealed. An official statement from the Central Bank’s statistics department said the existing Colombo Consumer Price Index (CCPI) does not accurately represent […]
Sri Lanka coalition partner returns to opposition – Updated
Dec 12, 2007 (LBO) – Members of a key Sri Lankan minority party crossed over to the opposition Wednesday increasing uncertainty over the fate of the ruling coalition ahead of a crucial budget vote. The other members of the SLMC who crossed over were SLMC General Secretary Hassan Ali, Basheer Sagudawood, and Faisal Kassim, who […]
Sri Lanka says 36 killed in heavy fighting
Dec 12, 2007 (AFP) – Sri Lankan troops and Tamil Tiger rebels were locked in heavy combat across their de facto borders in the north of the island where at least 36 combatants were killed, the defence ministry said Wednesday.Intense clashes along the Mannar and vavuniya districts left 20 guerrillas and three soldiers killed on […]
‘s progress in second Test
Dec 12, 2007 (AFP) – Sri Lankan captain Mahela Jayawardene missed a double century by five runs as England fought back on the fourth morning of the second Test here on Wednesday. Sri Lanka, replying to England’s first innings total of 351, crashed from their overnight score of 379-4 to 439-7 by lunch, a lead […]
Sri Lanka planning to name stadium after Murali
Dec 12, 2007 (AFP) – The Sri Lankan venue where Muttiah Muralitharan shattered the world bowling record could be re-named after the prolific off-spinner, the country’s sports minister said on Wednesday.Gamini Lokuge said he will ask the authorities that control Kandy’s Asgiriya stadium to re-name the ground after Sri Lanka’s most famous cricketer. “Asgiriya belongs […]
England 48-0 in second Sri Lanka Test
Dec 12, 2007 (AFP) – England, trailing by 197 runs in the first innings, were 48-0 in their second knock at stumps on the fourth day of the second cricket Test here on Wednesday.Alastair Cook was unbeaten on 19 and captain Michael Vaughan was on 28 when bad light stopped play 16 overs early at […]
Fed gives lump of coal to jittery markets
WASHINGTON, Dec 11, 2007 (AFP) – The Federal Reserve’s third cut in interest rates in as many meetings failed to allay concerns on financial markets that the US economy runs a risk of entering a serious downturn, analysts said. Economists said the Fed headed by chairman Ben Bernanke appeared divided and muddled in their outlook, […]
China, US economic talks open
XIANGHE, China, Dec 12, 2007 (AFP) – Twice-yearly economic talks between China and the United States began here on Wednesday with the Chinese currency and the world powers’ ballooning trade imbalance again under the spotlight. The two days of talks began at a sprawling convention centre an hour’s drive southeast of Beijing, following complaints and […]
Sri Lanka Ceylon Cold Stores expands fizzy drinks business
Dec 12, 2007 (LBO) – Ceylon Cold Stores has invested 800 million rupees to expand its carbonated drink making line to increase production and introduce different pack sizes to compete with other producers. The company says its ice cream has also captured half the market share in Maldives while soft drinks are exported to Europe, […]