Author: lbostgadmin
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Dec 12, 2007 (LBO) – Sri Lankan port workers Wednesday urged the government to speed up a new project to expand Colombo port, saying further delays could jeopardise its transhipment business and hub status. Unions representing a wide range of workers in Colombo port said the Colombo south port expansion project was a vital and […]
Sri Lanka rejects bids for six and 12-month bills
Dec 12, 2007 (LBO) – Sri Lanka has rejected bids for 6 and 12-month Treasury bills at Wednesday’s auction selling only 3-month bills at an average yield of 18.99 percent, up 96 basis points from last week..Updated/Corrected last week Dealers estimate the 3-month cut – off rate, the highest rate at which bids were accepted, […]
Sri Lanka fills vacancy in rate-setting monetary board
Dec 11, 2007 (LBO) – Sri Lanka has appointed Manohari Ramanathan, an attorney-at-law to fill a vacancy in the governing body on the country’s monetary authority which also sets interest rates. .Updated The Central Bank of Sri Lanka said Ramanathan’s appointment will take effect from December 06, 2007. She had joined the Legal Draftsman’s Department […]
Britain puts Sri Lanka on notice over rights
Dec 10, 2007 (AFP) – Britain’s top envoy to Sri Lanka Monday asked the government to improve its human rights record and politically end the island’s drawn out Tamil separatist conflict or risk international sanctions. British High Commissioner (ambassador) Dominick Chilcott said the UK had a direct interest in ending the conflict in its former […]
Sri Lankan parliamentarians can be bought, says British envoy
Dec 11, 2007 (LBO) – Britain’s envoy in Sri Lanka has mocked the practice of a parliamentary committee to probe corruption dominated by government ministers, saying many lawmakers have been given positions to buy their loyalty. “It must be the only oversight committee in the world that consists mainly of ministers,” British High Commissioner Dominick […]
Maldives opposition push for interim govt. ahead of polls
COLOMBO December 11, 2007 (LBO) — Five Maldivian opposition parties Tuesday urged President Maumoon Abdul Gayoom to put in place an interim government ahead of the archipelago’s first multi-party polls next year, officials said. “We are urging the international community to support us, to support our cause for democratic reforms,” former Maldivian foreign minister Ahmed […]
Jayawardene, Vandort frustrate England
COLOMBO, Dec 11, 2007 (AFP) – Sri Lankan captain Mahela Jayawardene and Michael Vandort put on 178 for the unbroken third wicket to keep England at bay in the second cricket Test here on Tuesday. Sri Lanka, replying to England’s first innings total of 351, emerged unscathed from the morning session on the third day […]
” Briton charged with deception
LONDON, Dec 11, 2007 (AFP) – The wife of a man who resurfaced after being presumed dead for more than five years was set to appear in court on Tuesday charged with two counts of deception. Anne Darwin, a 55-year-old former doctor’s surgery receptionist, will appear in Hartlepool Magistrates Court, where her husband John, 57, […]
ADB lends US$300mn to develop Indonesian capital markets
MANILA, Dec 11, 2007 (AFP) – Indonesia will borrow 300 million dollars from the Asian Development Bank to develop the country’s capital markets, the Philippines-based lender said Tuesday. The programme would promote transparency and information disclosure in capital markets, enabling market valuation of fixed-income instruments, an ADB statement said. Jakarta has undertaken financial sector reforms […]
Sri Lanka Ceylon Glass new plant starts production
Dec 11, 2007 (LBO) – Ceylon Glass Company (CGC) has begun production at its new plant in Horana, south of the capital Colombo, which can meet Sri Lanka’s entire demand for glass containers and export as well. Ceylon Glass chief executive Sanjay Tiwari said the second production line would start next week and that they […]
Top Rating
Dec 11, 2007 (LBO) – Fitch Sri Lanka has confirmed John Keells Holdings (JKH) national ‘AAA (lka)’ rating with a stable outlook, but expressed concern that most of its cash is generated by bunkering and container operations. “JKH’s ratings reflect its strong cash flow generation and increasing earnings diversity,” Fitch said. But the rating agency […]
Sri Lanka could stabilize economy with inflation targeting: IMF director
Dec 10, 2007 (LBO) – Sri Lanka could stabilize its economy and rein in galloping prices by moving to an inflation targeting framework and a flexible exchange rate, a top International Monetary Fund official said. Unlike East Asia and some Latin American countries, critics say five decades after creating a central bank with money printing […]