Author: lbostgadmin
‘s economy 40 percent smaller than estimated: analyst
WASHINGTON, Nov 15, 2007 (AFP) – China’s economy is 40 percent smaller than most recent estimates, a US economist said Wednesday, citing data from the Asian Development Bank and guidelines from the World Bank.That effort is “still very much work in progress,” he said.“It’s too early to tell what the final implications will be.” Albert […]
Sri Lanka Tamil charity asset frozen by US for terror funding
Nov 15, 2007 (LBO) – The United States has frozen the assets of the Tamils Rehabilitation Organization (TRO) for raising funds and buying arms for the Tamil Tigers, which is a designated terrorist organization, the US embassy in Colombo said. “In the United States, the TRO has raised funds on behalf of the LTTE [Liberation […]
‘s Union Assurance doubles earnings
Nov 15, 2007 (LBO) – Sri Lanka’s Union Assurance said net profit for the September quarter shot up 107 percent year-on-year to 29.6 million rupees. . General and life insurance premiums for the quarter grew by 17 percent to 1.1 billon rupees from 971 million rupees in 2006, according to interim results announced by the […]
Forging Ahead
Nov 15, 2007 (LBO) – Commercial Bank of Ceylon has reported a net profit growth of 30 percent to 1.1 billion rupees in the quarter ended September 2007 with foreign exchange earnings almost doubling to 519 million rupees. Total revenues grew 56 percent to 9.4 billion rupees, with net interest income also keeping pace at […]
Heavy Pull
Nov 15, 2007 (LBO) – Sri Lanka Shipping has announced its tugs have won contracts to tow international rigs on lengthy voyages. One tug has been deployed in the Middle East while another is underway moving a rig from Kakinada in India to Singapore. “Sri Lanka Shipping Co. was contracted to tow the rig ‘Transocean […]
Car Carriers
Nov 15, 2007 (LBO) – The Sri Lanka Ports Authority (SLPA) is planning a multi-storied car park and special tariffs at the Colombo port to encourage vehicle transshipment from India, an official said.Transshipment of vehicles from India, which is positioning itself as a small-car making hub, has been growing through Colombo. “The Port of Colombo […]
Sri Lankan coastal towns threatened by rising sea level
Nov 14, 2007 (LBO) – Sri Lanka’s coastal settlements are at risk of rising sea levels caused by global warming while those in the central hills face landslide threats, a top official said. “If the water level rises Sri Lanka’s entire coastal belt is facing possible destruction,” said Lakshman Jayasekara, director general, National Physical Planning […]
Sri Lanka trade deficit widens in September; 9-month deficit still down
Nov 14, 2007 (LBO) – Sri Lanka’s trade deficit widened in September to 281 million from 199 million a year ago, but the gap for the first nine months of the year was still 7.5 percent lower than last year. Exports grew 19.2 percent to 724.6 million in September with imports also rising 24.9 percent. […]
Flying Tigers trigger Sri Lanka alert
Nov 14, 2007 (AFP) – Sri Lanka switched off electricity in the capital Colombo early Wednesday amid fears that Tamil Tiger rebels were flying their light aircraft for a possible attack, officials said.The power supply was cut off before dawn for nearly half an hour as the country’s air defence systems spotted two unidentified aircraft, […]
Sri Lanka ruling party lawmaker decamps
Nov 14, 2007 (LBO) – A Sri Lankan lawmaker who heads a parliamentary committee overseeing state enterprises that has been probing corruption allegations, crossed over to opposition benches Wednesday. Wijedasa Rajapaksa, while requesting the speaker for a seat in the opposition benches, also said he would remain a member of the Sri Lanka Freedom Party […]
Sri Lankan lawmaker demands dismissal of ministers, top bureaucrats
Nov 14, 2007 (LBO) – A Sri Lankan government lawmaker who crossed over to the opposition benches Wednesday is demanding the dismissal of cabinet ministers and bureaucrats against whom a parliamentary committee headed by him made allegations of corruption. Parliamentarian Wijeyadasa Rajapaksa said that he has set seven conditions for the government to meet in […]
‘s globe sells for 100,000 dollars
SAN FRANCISCO, Nov 13, 2007 (AFP) – A globe kept by Adolf Hitler in his Eagle’s Nest compound and retrieved from the rubble after the end of World War II sold Tuesday for 100,000 dollars to an art collector and entrepreneur. The globe sat for 62 years in John Barsamian’s dusty attic in Oakland but […]