Author: lbostgadmin
‘s average inflation hits 17 year high, policy rates frozen
Sept 28, 2007 (LBO) – Sri Lanka held policy rates steady in September and pointed fingers at commodity prices as average inflation hit a 17-year high in the island and central bank credit to government zoomed to new highs. The 12-month moving average of the Colombo Consumer Price Index (CCPI) hit 17.5 percent, the highest […]
Deadly Sri Lanka clashes spike ahead of rains
Sept 27, 2007 (AFP) – Sri Lankan troops claimed Thursday they have killed 45 Tamil rebels in the past week as they step up attacks ahead of monsoon rains that will make fighting harder. Security forces have been trying to push into territory held by the Liberation Tigers of Tamil Eelam in the past week […]
Sri Lankan media rights group slams action against state TV journalists
Sept 28, 2007 (LBO) – Sri Lankan and international media rights watchdogs Friday strongly criticized action by a state television broadcaster to suspend four journalists for distributing a leaflet that said their professional rights had been harmed. State-controlled Sri Lanka Rupavahini Corporation (SLRC) has sent four of its journalists on compulsory leave after they submitted […]
England wary of tough times ahead in Sri Lanka
Sept 27, 2007 (AFP) – England are aware of the Sri Lanka cauldron when they start the next week’s five-match One-Day series, captain Paul Collingwood said here Thursday. “The hot conditions do favour the local team, it is one of the most difficult places to play cricket due to the weather,” Collingwood said, adding that […]
Sri Lanka stadium set to host England
Sept 28, 2007 (AFP) – The tsunami-hit Galle International Cricket Stadium has overcome a heritage hurdle and is on track to host Sri Lanka’s third Test match against England in December, an official said Friday. The curator of the picturesque ground in the southern resort town of Galle, Jayananda Warnaweera, said construction work could be […]
Businesses pledge four billion dollars at Clinton summit
NEW YORK, Sept 27, 2007 (AFP) – US businesses have pledged to spend more than four billion dollars on environmental, educational and humanitarian projects a New York summit organized by former president Bill Clinton. By Thursday, the second day of a three-day summit, several firms had stepped forward with pledges at the Clinton Global Initiative […]
World Bank pledges record US$3.5 bn new to aid poor nations
WASHINGTON, Sept 27, 2007 (AFP) – The World Bank on Thursday pledged a record 3.5 billion dollars to aid the world’s poorest countries as it cut the interest rate on loans to big developing countries. The roughly quarter-point lowering of loan rates was a concession by the World Bank as it stepped up efforts to […]
Sri Lanka sinks three boats, kills a dozen rebels
Sept 28, 2007 (AFP) – The Sri Lankan navy destroyed three Tamil Tiger boats off the island’s northeast coast, killing over a dozen rebels, the defence ministry said Friday.The clashes took place late Thursday when a naval patrol sighted 20 boats off Pulmoddai, near the de facto state the Liberation Tigers of Tamil Eelam’s (LTTE), […]
Gold price soars to new 27-year high after as Fed prints more money
LONDON, Sept 28, 2007 (AFP) – The price of gold surged Friday to the highest level since January 1980 as the precious metal was boosted by the sliding US dollar.On the London Bullion Market, gold prices leapt as high as 739.90 dollars per ounce. Analysts said that gold is winning support from the weak US […]
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Last Lap
Sept 28, 2007 (LBO) – India’s Mahanagar Telephone Nigan Limited (MTNL) has submitted a bid over 100 million US dollars for the Sri Lankan telco Suntel, press reports from India said. A Press Trust of India report said a decision on the bid is expected within two weeks. Suntel, owned by Sweden’s Telia, runs a […]
Cell Value
Sept 28, 2007 (LBO) – Sri Lanka’s Dialog Telekom celco’s Malaysian parent, Telekom Malaysia, has announced the spin off of its mobile phone business into a separate firm to realize its full value and focus on expansion, news reports said Friday. The new unit, TM International, worth 8.2 billion dollars, would be the holding company […]