Author: lbostgadmin
Sri Lanka opposition says Fitch Ratings wrong, insists on defaulting bond
Oct 10, 2007 (LBO) – Sri Lanka’s main opposition United National Party (UNP) said an assessment by a rating agency that a future administration run by the party would repay a sovereign bond that is now being marketed is wrong and insisted that it would default. The UNP has said the attempt to raise around […]
Power Plan
Oct 09, 2007 (LBO) – Fresh legislation to regulate the power sector is being readied after Sri Lanka’s highest court said an earlier plan to break up the utility was unconstitutional, officials said. Although the state electricity monopoly Ceylon Electricity Board (CEB) won’t be ‘unbundled’ or broken up in to generating, long distance transmitting and […]
Sri Lanka spy scandal prompts calls for Indian intelligence revamp
Oct 09, 2007 (LBO) – The recent recall of India’s top spy in the Sri Lankan capital Colombo has prompted calls for greater oversight and transparency in Indian intelligence agencies, a media report said. Absence of such oversight, and an apparent unconcern that responsibility may be fixed for failures, had led to instances like the […]
Sri Lankan media rights watchdog slams government intimidation
Oct 09, 2007 (LBO) – A Sri Lankan media watchdog body Tuesday said it was “shocked and dismayed” by government attempts to prevent critical reporting of the war and the military. The Free Media Movement (FMM) said in a statement it condemned a remark by a government official heading the military’s information outfit calling the […]
Disgraced Marion Jones hands over Olympic medals
LOS ANGELES, Oct 8, 2007 (AFP) – Disgraced sprinter Marion Jones has been stripped of her gold medals from the 2000 Olympics and asked repay more than 100,000 dollars in prize and bonus money, said the United States Olympic Committee.Jones, who admitted in a US court last week to using performance-enhancing drugs, has returned the […]
Murali dilemma for desperate Sri Lanka
Oct 9, 2007 (AFP) – Sri Lanka are mulling over whether to play star spinner Muttiah Muralitharan in the must-win fourth one-day international against England here on Wednesday. The hosts, trailing 1-2 in the five-match series, will be tempted to field the 35-year-old, who has recently recovered from a bicep injury suffered while playing for […]
EU urges flexibility from China over exchange rates
LUXEMBOURG, Oct 9, 2007 (AFP) – The European Union’s top monetary affairs official urged China on Tuesday to allow its currency to trade more freely in foreign exchange markets as EU finance chiefs prepared for an upcoming G7 meeting. “China and other emerging economies should introduce more flexibility in their exchange rate management,” EU Economic […]
‘s can reach 10-pct growth target by cutting govt role: OECD
PARIS, Oct 9, 2007 (AFP) – India can reach its target of annual economic growth of 10 percent by 2011 if the country concentrates reforms on reducing the role of the state in the economy, an OECD report said on Tuesday. The Paris-based economic institute urged the government to loosen “restrictive” labour laws and “inefficient” […]
Indian shares hit record 18,000 points level
MUMBAI, Oct 9, 2007 (AFP) – Indian shares prices hit a record high Tuesday with the benchmark Sensex index vaulting the psychologically key 18,000-point level for the first time. Dealers said support for the market came from information technology and oil refinery stocks on hopes of a strong second quarter earnings performance. The Sensex was […]
Building Watchdog
Oct 09, 2007 (LBO) – International audit firm Deloitte Thursday launched its financial advisory services for Sri Lanka’s construction industry which has been growing rapidly in recent years. “We try to help clients in monitoring the quality of work, and to ensure timely and on-budget delivery of their projects,” said Gajanan Sabnis, Senior Manager, Construction […]
S&” rating confirmed
Oct 09, 2007 (LBO) – Standard and Poor’s has confirmed Sri Lanka’s B+ sovereign rating on the eve of a maiden global bond offer, but warned that excessive commercial borrowing could reduce support for the rating. Fitch Ratings had given the bond a BB- rating, a notch higher than S&P but with a negative outlook. […]
Sri Lanka accused of stage-managing UN rights mission
Oct 8, 2007 (AFP) – The head of a prominent Sri Lankan human rights group on Monday accused the island’s government of seeking to “stage-manage” a visit by a top United Nations official.Minority Tamil legislator Mano Ganeshan said Colombo was tightly controlling the five-day visit of United Nations High Commissioner for Human Rights, Louise Arbour, […]