Author: lbostgadmin
Cricket Australia slammed over row with agency lockout through Sri Lanka Test
BRISBANE, Australia, Nov 9, 2007 (AFP) – Australia cricket’s governing body came under fire Friday for imposing restrictions that have locked global news agencies out of the opening Australia-Sri Lanka cricket Test in Brisbane. “And with the Indian team arriving later this summer, backed by the world’s largest cricket audience, it would be a disaster […]
Commonwealth games decision in Sri Lanka today
Nov 9, 2007 – The Commonwealth Games Federation general assembly will vote Friday to decide whether Abuja of Nigeria or Scotland’s Glasgow hosts the 2014 games, officials said. Abuja and Glasgow will get a final opportunity to sway voters when they each make a 30-minute presentation and answer questions during a 10-minute period just before […]
Euro hits new high after Fed chief comments
TOKYO, Nov 9, 2007 (AFP) – The euro hit a fresh record high against the dollar Friday after Federal Reserve chairman Ben Bernanke painted a gloomy picture of the US economy, dealers said.It declined to 42.78 Philippine pesos from 43.37 and to 9,126.50 Indonesian rupiah from 9,155.50 but remained unchanged at 31.54 Thai baht. His […]
Cellphone slump sends NTT profit down
TOKYO, Nov 9, 2007 (AFP) – Japan’s largest telecom group NTT said Friday its operating profit for the first half dropped 18.4 percent as its cellphone unit DoCoMo suffered a slump amid a price war.Net profit is seen at 530 billion yen, up from 460 billion yen, but the revenue forecast was cut to 10.6 […]
Savings Giant
Nov 09, 2007 (LBO) – Fitch Sri Lanka has affirmed the National Savings Bank’s (NSB) ‘AAA(lka)’ rating with a stable outlook, but said high taxes and narrower margins were eroding profitability. “The rating reflects the full state ownership of the bank, low credit risk on its assets due to its significant exposure to government securities […]
Sri Lanka top chamber says budget commitments good, but implementation is key
Nov 09, 2007 (LBO) – Sri Lanka’s most powerful business chamber welcomed a government commitment to lower the budget deficit next year, but said reaching the targets was important. “We have repeatedly pointed out in the past that implementation is the key to success in achieving the budgetary targets,” the Ceylon Chamber of Commerce said […]
Sri Lanka navy gets US radar, boats
Nov 08, 2008 (LBO) – The United States has given Sri Lanka’s navy more equipment to improve maritime security against the Tamil Tigers while urging a negotiated settlement to the ethnic conflict. US Ambassador Robert O. Blake, Jr. handed over the equipment to navy commander Vice Admiral Wasantha Karannagoda at a ceremony in eastern Trincomalee […]
Sri Lanka Australia Tests open with global media locked out
BRISBANE, Australia, Nov 8, 2007 (AFP) – Australia’s Test cricket season opened Thursday with international fans unable to follow the action after organisers locked global news agencies out of the ground in Brisbane.The restriction was lifted 90 minutes before the tournament kicked off. The row also left Australia’s largest media organisation, News Limited, unable to […]
Oil prices ease off new peaks near 100-dollar mark
NEW YORK, Nov 7, 2007 (AFP) – Crude oil prices eased back from new peaks near the 100-dollar mark Wednesday after a weekly US energy report showed a smaller-than-expected decline in stockpiles. New York’s main contract, light sweet crude for December delivery, dipped 33 cents to close at 96. 37 dollars a barrel, after hitting […]
Be Careful
Nov 08, 2007 (LBO) – Sri Lanka’s shaky budgets and complementary monetary policy are the biggest dangers to the banking system, an international rating agency has warned. Fitch Ratings says the ongoing internal war and even the December 2004 tsunami had little direct impact on the stability of Sri Lanka’s banking system. “However, the state’s […]
Sri Lanka new tax proposal summary
Here are some of the key government revenue proposals presented in the 2008 budget: – Tax Reliefs for new investments in the Eastern Province – The following tax relief will be available on investments in any undertaking of any nature, where i. The investment is over Rs.50 MN, and ii. Provides employment opportunities for not […]
Sri Lanka taxes hit drinkers, smokers and drivers
Nov 08, 2007 (LBO) – Sri Lanka’s cash strapped government is taxing booze, smokes and cars again to boost government revenues and finance subsidies, the 2008 budget presented to parliament showed. “We have sharply increased taxes on alcohol and cigarettes to discourage consumption,” the budget speech tabled in parliament by President Mahinda Rajapakse said. The […]