Author: lbostgadmin
Steady Steady
July 02, 2007 (LBO) – A new rule by Sri Lankan stock market regulators that limits brokering credit for investors should ensure more stability and provide long term security for the market. The rule, effective from July 1, will limit brokerage firms from lending more than 75 percent of the market value of an investor’s […]
India software exports head for 60-billion-dollar mark
BANGALORE, India, July 2, 2007 (AFP) – India’s exports of software and related services are expected to almost double in three years to 60 billion dollars, maintaining the country’s lead over rivals such as China, the industry said Monday.But the rupee’s strength and a shortage of talent are major concerns for an industry that posted […]
Sri Lanka asks Norway to revive peace bid: report
July 1, 2007 (AFP) – Sri Lanka’s government has asked Norway to help revive a moribund peace process amid an escalation of fighting between troops and Tamil Tiger rebels, a press report said Sunday.More than 5,000 people have been killed in the new wave of fighting since December 2005 despite a truce in place since […]
Sri Lanka government, Tigers trade allegations over new killings
July 1, 2007 (AFP) – Gunmen have shot dead two civilians in Sri Lanka’s northern Jaffna peninsula, officials said Sunday as the government and Tamil Tigers blamed each other for the latest in a string of such killings.The men were murdered Saturday in two separate incidents on the government-controlled peninsula, situated at the northern tip […]
Unfazed Bangladesh plan campaign against Sri Lanka
July 1, 2007 (AFP) – Under-performing Bangladesh go into Tuesday’s second Test against mighty Sri Lanka determined to lift their game and prove they deserve to play at the highest level.The third and final Test will be played in Kandy from July 11-15, followed by three one-day internationals.The knives were out after Bangladesh crashed to […]
Asia recalls crisis that brought region to its knees
HONG KONG, July 1, 2007 (AFP) – When Thailand floated its currency on July 2, 1997, it meant to ease the immediate pressure on its faltering economy.Instead, it set off a chain reaction which destroyed many of the gains of Asia’s ‘economic miracle’ years as currencies, stocks, commodities and property prices went into free-fall and […]
Hundreds of Bangladesh factories fail to pay minimum wage
DHAKA, July 1, 2007 (AFP) – Hundreds of textile factories in Bangladesh have failed to meet a government deadline to pay their workers even a paltry minimum wage of 25 dollars a month, an industry body said Sunday.Of the country’s more than 2400 garment factories, over 400 were still ignoring the rule on June 30, […]
Light Touch
July 01, 2007 (LBO) – Sri Lanka’s rule book and compliance based financial regulatory system needs to be changed to one of principle based risk focused system, a top central banker has said. A rule-based intrusive supervision system doesn’t work always, Deputy Governor of the Central Bank of Sri Lanka Ranee Jayamaha, told a forum […]
Wider Spectrum
July 1, 2007 (LBO) – Sri Lanka’s pioneer leasing firm, Lanka Orix Leasing Company (LOLC), is looking to spread its wings under a new brand, officials said. “I feel we should do business as usual and not worry too much about what is happening in the country as long as we concentrate on our risk […]
‘s central bank keeps 7.5 percent growth forecast; halts release of GDP numbers
June 30, 2007 (LBO) – Sri Lanka’s economy would still grow by 7.5 percent this year despite first quarter growth sliding to 6.1 percent, the Central Bank has said, while a rising budget deficit pushed interest rates to new highs. Analysts also say a slowdown in reported growth numbers is inevitable partly because of statistical […]
Civillian deaths by Tamil Tigers climb up
June 30, 2007 (AFP) – Suspected rebels in Sri Lanka shot dead seven civilians and security forces discovered a truck packed with powerful explosives, the country’s defence ministry said on Saturday. Tamil Tiger rebels gunned down four farmers in the eastern town of Serunuwara late on Friday, the military said. Two Tamil civilians were shot […]
‘s tilt balance of assymetric warfare
BAGHDAD, June 30, 2007 (AFP) – Following this week’s foiled car bombs in central London, the British media raised the spectre of “Iraq-style attacks”, but what exactly would be the hallmarks of such a campaign?On Friday, London police defused explosives in two Mercedes cars that had been loaded with gas canisters and nails and left […]