Author: lbostgadmin
Sri Lanka rupee edges lower on state name buying
Sept 18, 2007 (LBO) – Strong buying interest from a state name that usually represent government accounts pushed the rupee lower in late afternoon trading with deals done at 113.60 against the greenback, dealers said. Sri Lanka’s cash markets have been tight with some market participants were seen generating rupees through dollar swaps. The rupee […]
Sri Lanka busts US$250mn to prop up exchange rate
Sept 17, 2007 (LBO) – Sri Lanka has spent more than 200 million US dollars to prop up the rupee during the past four months in an intervention campaign analysts say helped worsen exchange and demand pressure. There are fears among some market analysts, that if the bond price is manipulated it will give opportunities […]
” naval success
COLOMBO, Sept 17, 2007 (AFP) – Navy chiefs in Sri Lanka organised a party Monday to welcome back teams involved in what they claim was the government’s biggest success to date against Tamil separatists. The six patrol craft and their supply ships were reported last week to have sunk three Tamil Tiger gun-running ships in […]
Sri Lanka needs to crush Tamil Tigers, top official says
TRINCOMALEE, Sri Lanka, Sept 17, 2007 (AFP) – A top Sri Lankan official said Monday that Tamil Tiger rebels need to be defeated, an apparent shift in the government’s previously stated intention to negotiate.Defence Secretary Gotabhaya Rajapakse, who is the brother of the island’s president, argued that unless this were achieved, any political solution to […]
” military action against Tigers
Sept 17, 2007 (LBO) – Sri Lanka’s top business chamber wants to create a lobby group to push for peace but at the same times has acknowledged the necessity for a limited military campaign against Tamil Tigers. Mahen Dayananda, Ceylon Chamber of Commerce chairman, said its leaders had recognized it was almost impossible to separate […]
China web-user dies after three-day online binge
BEIJING, Sept 17, 2007 (AFP) – A man in southern China collapsed and died after a three-day marathon online session at a cybercafe, state media reported on Monday.The web-user, estimated to be 30 years old, suddenly collapsed in front of his computer terminal in Guangdong province, and emergency personnel were unable to revive him, the […]
Money printing Zimbabwe eyes remaining foreign assets
HARARE, Sept 17, 2007 (AFP) – Planned legislation that would place the majority share of all listed firms in the hands of indigenous blacks will lead to a fall in foreign investment and worsen Zimbabwe’s economic woes, business leaders warned Monday. Members of a parliamentary committee that is currently debating the controversial Indigenisation and Economic […]
Sri Lankan plantations firms call for more land security
Sept 17, 2007 (LBO) – Sri Lanka’s plantations companies have called for greater security of land on which they grow export crops like tea to ensure more investment in the upkeep of estates and factory modernization. To make matters worse, compensation due on such acquisitions is not forthcoming despite repeated appeals. Planters’ Association (PA) chairman […]
Sri Lanka says military campaign needed for stability and investment
September 16, 2007 (LBO) – Sri Lanka’s defence establishment has told the business community that it was working to a plan to defeat Tamil Tiger terrorism that would create the stability they needed for investment. “For you to do your business, first there must be a country,” Gothabhaya Rajapakse, Secretary to the Defence Ministry, was […]
Sri Lanka steps up search after 28 killed in fresh violence
COLOMBO, Sept 16, 2007 (AFP) – Sri Lankan troops stepped up search operations for Tamil rebels in the embattled north and east after 28 people were killed in a new wave of fighting at the weekend, officials said Sunday. More than 5,400 people have been killed in fighting in the past 21 months following the […]
New Zealand defeat India, Vettori bags 4 wickets
JOHANNESBURG, Sept 16, 2007 (AFP) – Captain Daniel Vettori led from the front as New Zealand brushed aside India by 10 runs in the Super Eights match of the Twenty20 world championships on Sunday.New Zealand next play England on Tuesday and India take on England on Wednesday, both matches taking place at the Kingsmead in […]
Bangladesh gets duty-free access to Indian garment market
DHAKA, Sept 16, 2007 (AFP) – Bangladesh and India on Sunday signed a deal that will allow Dhaka to export eight million garments duty-free across the border, an agreement billed by New Delhi as a “milestone” in trade relations.“India is growing rapidly and its middle class is booming.So in the near future India can very […]