Author: lbostgadmin
Sri Lanka trade fair draws foreign interest
Oct 18, 2007 (LBO) – Trade delegations from 12 countries have already confirmed their participation at IMEXPRO 2008, the Ceylon Chamber of Commerce said Thursday. The event is an international import – export promotion fair to be held from 14-16 February 2008 in the Sri Lankan capital Colombo, it said in a statement. The Ceylon […]
Offshore Business
Oct 18, 2007 (LBO) – Two of Sri Lanka’s top listed conglomerates, John Keells Holdings and Hayleys are positioning themselves to exploit business opportunities expected to emerge from an anticipated oil strike offshore. The aim of sending the business delegation to Norway was to widen the scope for business collaborations in new sectors with high […]
Sri Lankan media watchdog slams military censorship
Oct 18, 2007 (LBO) – The Free Media Movement (FMM), a Sri Lankan media watchdog, Thursday sharply criticised heavy-handed action by military personnel in censoring media coverage of an accident involving a truck carrying ammunition. It said in a statement that the state security forces had censored media and deleted photos taken by photojournalists on […]
Sri Lanka military says 27 Tamil rebels killed
COLOMBO, Oct 18, 2007 (AFP) – Sri Lanka’s military said Thursday that its troops killed 27 suspected Tamil Tigers in renewed clashes in the island’s north, although the rebels dismissed some incidents as attacks on civilians.The Sri Lankan navy fired early Thursday at a cluster of Tamil Tiger boats off the northwest coast. They recovered […]
China has 345,000 millionaires: study
BEIJING, Oct 18, 2007 (AFP) – China had 345,000 millionaires by the end of last year, the second-most in Asia after Japan, according to a new study by US investment bank Merrill Lynch. The number of Chinese US dollar millionaires was up 7.8 percent from the year before, helped by a stock market that saw […]
Migrant Votes
Oct 18, 2007 (LBO) – Sri Lankan migrant workers who account for as much as 12 percent of voters are still denied the right to vote although they constitute the island’s second biggest foreign exchange earner. Commissioner of elections Dayananda Dissanayake told LBO migrant workers remain without the ability to vote because successive governments remained […]
Sri Lanka credit-default swaps start trading after bond sale
Oct 18, 2007 (LBO) –Credit-default swaps tied to Sri Lanka’s debt started trading Thursday after the government sold 500 million dollars in bonds to foreign investors for the first time, Bloomberg newswire reported. Five-year contracts used to speculate on the South Asian nation’s ability to repay debt were quoted at 375 basis points as of […]
Sri Lanka says debut bond issue three times oversubscribed
Oct 18, 2007 (LBO) – Sri Lanka’s Central Bank Thursday said the government’s first international sovereign bond issue of 500 million dollars was more than three times oversubscribed.The bonds have a five-year maturity and a coupon of 8.25 percent per annum, the bank statement said. The issue carries a “junk bond” or below investment grade […]
Sri Lanka at bottom of world media freedom index
Oct 17, 2007 (LBO) – Sri Lanka has been ranked at the bottom of a world media freedom index prepared by Reporters Without Borders, a Paris-based international non-governmental organization that advocates media freedom. The island is ranked 156th, ahead of Iraq and behind Libya, among 169 countries covered in the Worldwide Press Freedom Index 2007. […]
Sri Lanka delays opening of wildlife park after killings
Oct 17, 2007 (AFP) – Sri Lanka has put off re-opening its most popular wildlife sanctuary by another week after Tamil Tiger rebels overran an army post inside the park, officials said Wednesday.The Yala National Park, a popular tourist destination in the island’s southeast and home to leopards, elephants and migratory birds, will open after […]
Sri Lanka plays host to anti-terrorism meet
Oct 17, 2007 (LBO) –Experts on combatting terrorism are due to meet in Sri Lanka to share their experience on how democratically elected governments can face future challenges, a senior minister said Wednesday. The three-day meeting, which opens on Thursday, will also discuss how governments could counter international terror networks, foreign minister Rohitha Bogollagama said. […]
Oil eases in Asia above 87 dollars
SINGAPORE, Oct 17, 2007 (AFP) – Oil prices eased slightly in Asia on Wednesday but remained above 87 dollars a barrel in a market worried over a potential Turkish incursion into northern Iraq. New York’s main oil futures contract, light sweet crude for delivery in November, was 18 cents lower in early morning trade at […]