Author: lbostgadmin
Sri Lanka central bank promises vigilance over liquidity as inflation rages
Nov 20, 2007 (LBO) – Sri Lanka’s central bank said it is countering a liquidity shock to the monetary system from a dollar bond issue, though policy rates frozen at 12.0 percent remained negative compared to raging 19.6 percent inflation. A sudden conversion of 500 million dollars worth state borrowings in late October drove up […]
Sri Lanka inequality on the rise despite growth: UNDP
Nov 20, 2007 (LBO) – Inequality is on the rise in Sri Lanka despite the island making much progress in economic development, an international expert said. Overall progress in Sri Lanka has been concentrated in the western province and hides wide regional income disparities, said Neil Buhne, UN Resident Coordinator, Sri Lanka. There were pockets […]
Sri Lanka to appoint town planners to all local bodies
Nov 20, 2007 (LBO) – Sri Lanka has decided to appoint professional town planners to all local government bodies in a move that will speed up approvals and reduce corruption, officials said. The number of town planners in these bodies today is woefully inadequate, resulting in delays in getting approvals for building permits and payment […]
Sri Lanka Central Bank rejects gold reserve sale charges as criticism mounts
Nov 20, 2007 (LBO) – Sri Lanka’s Central Bank has rejected allegations it had sold tonnes of gold reserves to fund government expenditure in recent months, while criticism mounts on the way foreign reserves are used by the authorities. It said in a statement that a fake letter was circulating that it had sold 7,000 […]
Sri Lankan Tamil journalist abducted: rights group
Nov 20, 2007 (AFP) – A media rights group on Tuesday asked the government to help find a Sri Lankan Tamil journalist based in embattled Jaffna who it believed was kidnapped by paramilitary forces. Vadivel Nimalarajah, a proof reader with the Jaffna-based Uthayan newspaper, was “abducted by an unidentified group” in the state-controlled northern town […]
Umpire sorry for giving Sangakkara out, says skipper
HOBART, Australia, Nov 20, 2007 (AFP) – South African umpire Rudi Koertzen apologised to Kumar Sangakkara for giving him out in controversial circumstances within sight of his seventh Test double-century here Tuesday. The star batsman was stunned when Koertzen gave him out to a catch by Ricky Ponting, which effectively ended Sri Lanka’s remote chances […]
” Chinese lending in Africa: Zoellick
BRUSSELS, Nov 19, 2007 (AFP) – World Bank president Robert Zoellick said Monday the development body was encouraging China to be a “responsible” lender in Africa amid European concerns about its growing role on the resource rich continent. “We are starting to work with both the Africans and the Chinese … about encouraging responsible lending […]
World stocks wilt on US economic fears
NEW YORK, Nov 19, 2007 (AFP) – World stocks took a pounding Monday as investor fears about the US economy mounted with consumers and the banking system both facing woes from the collapse of the high-risk mortgage market. The Dow Jones Industrial Average slid 1.66 percent to 12,958.44, dropping below the psychological barrier of 13,000. […]
British television sweeps international Emmy awards
NEW YORK, Nov 19, 2007 (AFP) – Britain swept the international Emmy awards for excellence in television late Monday, picking up seven top awards at a gala ceremony in New York that also honored former US vice president Al Gore. The International Academy of Television Arts and Sciences is the largest organization of broadcasters in […]
Airline passengers prefers more self-service: IATA
Nov 20, 2007 (LBO) – Airline passengers increasingly prefer to do their own ticketing and checking in at airports, according to a global survey by the International Air Transport Association (IATA). The preference for self-service was revealed in IATA’s annual Corporate Air Travel Survey of over 10,000 active travellers, which shows passengers are demanding more […]
Investment Grade
Nov 20, 2007 (LBO) – Senkadagala Finance (SF) has seen slower lending and faster growth in higher purchase loans, Fitch Ratings Lanka said, confirming the finance company’s ‘BBB+(lka) investment grade rating. . “The rating reflects SF’s strong profitability and comfortable capitalisation as well as its medium sized asset base and limited revenue and funding diversity,” […]
Most Preferred
Nov 20, 2007 (LBO) – A Sri Lanka government panel has decided to start negotiations with the front runner for a new container terminal in Colombo with a Port of Singapore Authority and Aitken Spence bid being hot favourites to win the deal, officials said. The cabinet appointed negotiating committee (CANC), which made its decision […]