Author: lbostgadmin
Sri Lanka says US$500 million bond has been used to repay debt
Nov 13, 2007 (LBO) – Sri Lanka’s finance ministry confirmed Wednesday that the proceeds of its biggest ever foreign bond issue had already been spent to repay short term debt.The government originally said a 500 million dollar sovereign bond issue raised in October would be used for infrastructure development projects. A Sri Lanka finance ministry […]
Sri Lanka private sector calls for fewer, simpler taxes
Nov 12, 2007 (LBO) – Sri Lanka’s private sector Monday urged the government to do more to reduce the multitude of taxes and simplify the system in order to make payment and collection more efficient. It also warned against what appeared to be government moves to resurrect unsuccessful welfare measures in an attempt to cushion […]
Sri Lanka troops kill six women Tiger fighters
Nov 12, 2007 (AFP) – Sri Lankan troops shot dead at least six women fighters of the Tamil Tigers during a clash in the north of the island, the defence ministry said Monday.Following an attack on a bunker line of the Liberation Tigers of Tamil Eelam (LTTE) along the de facto front line with guerrilla-held […]
Commonwealth mulls Pakistan action after poll announcement
LONDON, Nov 12, 2007 (AFP) – Foreign ministers will Monday debate a possible suspension of Pakistan from the Commonwealth at an extraordinary meeting in London after President Pervez Musharraf imposed a state of emergency last week. Although Musharraf met a key demand of his critics by announcing Sunday that elections would be held by January […]
Galileo satellite project in the balance as Britain ask tough questions
LONDON, Nov 12, 2007 (AFP) – The European Union appears to be “sleepwalking into a vast financial commitment” with its troubled Galileo satellite network, and a rigorous cost-benefit analysis must be produced on the system, a British parliamentary committee said Monday.In a report into the network, the House of Commons Transport Committee said it had […]
Asian stocks suffer another mauling
TOKYO, Nov 12, 2007 (AFP) – Asian stocks were rocked by another large sell-off Monday with Tokyo hitting a 15-month low, battered by a weak dollar and growing fears over the fallout from the US subprime loan crisis, dealers said. They said the Chinese central bank’s latest move to try to cool the economy had […]
”
DUBAI, Nov 12, 2007 (AFP) – Saudi Arabian billionaire Prince Walid Bin Talal on Monday ordered an Airbus A380, making him the first private buyer of the next generation super jumbo aircraft.Prince Walid, one of the world’s richest men, inked the deal for the “flying palace” at a ceremony with executives from the European aircraft […]
”: Council of Europe report
PARIS, Nov 12, 2007 (AFP) – The Council of Europe issued a damning report Monday accusing governments of eroding basic rights in the name of the United States-led “war on terror”.“Increasingly, in the name of the war on terror, the executive is in the process of severely limiting the sphere of competence of judiciary power,” […]
Steady Course
Nov 12, 2007 (LBO) – Sri Lanka Seylan Bank group’s after tax profits increased 41.4 percent in the third quarter ending in September while turnover grew by 27.3 percent with a relatively flat loan growth. Group net profit after tax grew to 150.7 million rupees in the three months ended September 2007 from 106.6 million […]
Guarantee Game
Nov 12, 2007 (LBO) – Loan guarantees given by the Sri Lanka government to financial institutions shot up 45 percent in 2007 as the state took over credit risks of large power projects, newly published documents have revealed. Disclosures under Sri Lanka’s fiscal responsibility law shows that total loan guarantees given to financial institutions are […]
Sri Lanka rupee gains, excess liquidity drops
Nov 12, 2007 (LBO) – The Sri Lanka rupee strengthened to 110.32/35 in spot trade Monday recovering losses made last week dealers said, while the central bank was progressively reducing excess liquidity. In equity markets, the benchmark Colombo All Share Index closed up 0.46 percent at 2,631.43 and the Milanka Index of liquid stocks ended […]
India urges peaceful solution in Sri Lanka
Nov 11, 2007 (AFP) – Sri Lanka and Tamil Tiger rebels must forego violence and return to the negotiating table to resolve their decades-old conflict, India’s finance minister said Sunday during a visit to the island.The minister, P. Chidambaram, said while New Delhi backed Sri Lanka’s sovereignty and territorial integrity, military action would not bring […]