Author: lbostgadmin
Sri Lanka low grown teas fetch record prices
July 13, 2007 (LBO) – Sri Lanka’s low grown tea prices have surged owing to strong demand from key buying countries and a shortfall in the crop, brokers said. Prices of low grown teas, grown mainly in the low country districts and by smallholders, have been climbing steadily for the past one year. But the […]
Sri Lanka to choose lead managers to US$400mn bond by end July
July 13, 2007 (LBO) – Sri Lanka would appoint lead managers to a 400 million dollar sovereign bond issue by the end of this month, the government’s debt office said. International investment banks have been asked to submit proposals by July 16, and the joint lead managers to the issue would be appointed by the […]
Sri Lanka petro chief calls for national hedging policy
July 12, 2007 (LBO) – The head of Sri Lanka’s state petroleum utility has called for a national policy on oil hedging for the longer term as international bankers were due to present a fresh proposal on short-term hedging. An accumulation of profits in any import firm would reduce demand in the aggregate economy, resulting […]
Sri Lanka president welcomes capture of Tiger base
July 11, 2007 (AFP) – Sri Lanka’s president Wednesday paid tribute to his security forces for capturing what he called the “last stronghold” of the Tamil Tiger rebels in the island’s restive east. President Mahinda Rajapakse in a statement welcomed the capture of the area known as Thoppigala, where the Liberation Tigers of Tamil Eelam […]
Sri Lanka claims fall of Tiger base amid new peace bid
July 11, 2007 (AFP) – Sri Lanka’s military said Wednesday it had captured the “nerve centre” and last Tamil Tiger jungle stronghold in the east of the island, following months of intense fighting. The claim coincided with a fresh effort by peace broker Norway, who sent a top envoy to the rebel-held northern town of […]
‘s east
July 12, 2007 (AFP) – Tamil Tiger rebels have admitted losing a key stronghold in eastern Sri Lanka to government forces and said they would revert to guerrilla tactics in the troubled region.The Liberation Tigers of Tamil Eelam (LTTE) fighters melted away from Thoppigala, a mountainous jungle area they dominated for over 13 years, rebel […]
Tamil Tigers threaten guerrilla warfare after conventional defeat
July 12, 2007 (AFP) – Tamil Tiger rebels have admitted losing a key stronghold in eastern Sri Lanka to government forces and said they would revert to guerrilla tactics in the troubled region. Government forces were clearing landmines in the Thoppigala area which they captured from rebels on Wednesday, after months of heavy fighting, military […]
Sri Lanka spins off Bangladesh cheaply
KANDY, Sri Lanka, July 12, 2007 (AFP) – Sri Lankan spin wizard Muttiah Muralitharan grabbed 6-28 as Bangladesh were shot out for 131 on the second morning of the third and final cricket Test here on Thursday. The tourists, who resumed at their overnight score of 72-4, lost their last six wickets for 33 runs […]
Euro hits record high against dollar on US economy worries
NEW YORK, July 11, 2007 (AFP) – The euro surged to a record high against the dollar Wednesday on growing concerns about risky loans in the US property market and a European Central Bank hint of an interest rate hike.In late New York trade, the dollar stood at 1.2062 Swiss francs, up from 1.2019 Tuesday. […]
‘s to start coffee chain in Japan
TOKYO, July 12, 2007 (AFP) – McDonald’s said Thursday it will launch a chain of coffeeshops in Japan, hoping to tap into the country’s growing love of coffee but at lower prices than rivals.The Japanese unit of the global burger empire said it will open 15 “McCafes” in the Tokyo region next month and hoped […]
Graft Web
July 11, 2007 (AFP) – A grouping of companies launched Wednesday a website dedicated to collecting information about officials and governments around the world who seek bribes. The US-based Trace International, a non-profit grouping of multinational firms, said their new website Bribeline.org will allow people or organizations to anonymously report bribe requests. Trace said its […]
Standing By
July 12, 2007 (LBO) – Sri Lanka’s United Motors Lanka Limited has put off plans to diversify into big property developments as the market for high-rise space seems to be slowing, officials said. UML Property Development’s profits were tax free for a period of seven years and now are taxed at a concessionary rate. The […]