Author: lbostgadmin
New Life
July 31, 2007 (LBO) – The failed Pramuka Bank had been given the nod by the Central Bank to re-open for business from August 01, as the state owned Sri Lanka Savings Bank Ltd, the regulator said. The new bank will settle the liabilities of Pramuka to depositors and creditors according to a scheme to […]
India-Sri Lanka peace accord marks 20 years with war
July 30, 2007 (AFP) – When India and Sri Lanka signed a peace pact two decades ago it was hailed as a landmark that could end Asia’s longest running civil war. But since then, the bloodshed has only got worse. The 1987 accord envisaged the disarming of Tamil Tiger separatists by India, which had armed […]
Indian league storm set to hit Sri Lanka
July 29, 2007 (AFP) – A multi-million-dollar rebel league in India seems set to take Sri Lankan cricket by storm with several top players approached to join the lucrative series, sources said on Sunday.The Indian Cricket League (ICL), promoted by the country’s largest listed media group Zee Telefilms, features six teams playing Twenty20 matches across […]
England happy with Sri Lanka security: officials
July 30, 2007 (AFP) – England’s winter tours of Sri Lanka looked set to go ahead after local officials claimed Monday that a security assessment team sent by the tourists was satisfied with the arrangements.Sri Lanka Cricket (SLC) chairman Jayantha Dharmadasa said that John Carr, a top official of the England and Wales Cricket Board […]
Citizen journalism website gets multi-million-dollar boost
SAN FRANCISCO, July 30, 2007 (AFP) – NowPublic announced Monday that the fast-growing citizen journalism website has scored 10.6 million dollars (US) in financing to fuel its drive to become the world’s largest news agency.The Vancouver-based start-up says it is growing at a rate of 35 percent monthly and has nearly 120,000 contributing “reporters” in […]
Carbon Footprints
July 30, 2007 (LBO) – Global warming is increasingly being recognized as a threat around the world, but the business of carbon trading to reduce global warming could prove a blessing for developing countries. But it is by no means easy money. Developed countries are seen as the main culprits of global warming due to […]
Rating Shuffle
July 30, 2007 (LBO) –The Sri Lanka unit of Rating Agency Malaysia (RAM) said Monday its operations will not be affected by a restructuring of the parent. Lanka Ratings Agency (LRA) said the credit ratings services and consultancy services of RAM had been separated under a regulatory requirement in Malaysia. RAM has been re-named RAM […]
Demotion
July 30, 2007 (LBO) – Fitch Ratings has downgraded the rating outlook of National Development Bank from ‘positive’ to ‘stable’ after a proposed merger with the Commercial Bank was aborted. NDB has an asset base of 65 billion rupees. National Development Bank, originally a development finance institution, merged with NDB Bank, its commercial banking subsidiary […]
Sri Lanka markets quiet at noon; state names sell dollars
July 30, 2007 (LBO) – Sri Lanka stocks were down 0.8 percent by noon Monday while the rupee traded around 111.78 to the dollar with state names intervening in the market, dealers said.The action had been initiated by East West Group chairman Nahil Wijesuriya, the newspaper said. In cash markets, overnight repo rates moved between […]
Sri Lanka trade unions redundant as privatization ends political victimization: study
June 29, 2007 (LBO) – Less political victimization and better benefits have seen workers of privatized Sri Lankan companies opting out of trade unions, a recent survey showed. Meanwhile, the government has said it will close Sri Lanka’s privatization arm, the Public Enterprise Reform Commission, as the sale of state assets was no longer a […]
Sri Lanka navy says six Tigers killed in sea skirmish
July 28, 2007 (AFP) – The Sri Lankan naval said Saturday it had destroyed at least two suspected Tamil Tiger boats off the island’s northwestern coast, killing at least six rebels.Naval patrol craft intercepted the boats, believed to belong to the Liberation Tigers of Tamil Eelam (LTTE), off the coast of Mannar, navy officials said. […]
English cricket official in Sri Lanka for security assessment
July 29, 2007 (AFP) – A top English cricket official has arrived in Sri Lanka to assess the security of potential venues before a planned tour in the war-torn nation in October.John Carr, from the England and Wales Cricket Board, arrived on Friday to visit all the venues for the matches on a truncated tour. […]