Author: lbostgadmin
Tamil wins another battle for equality with Hindi in India
CHENNAI, India, May 30, 2007 (AFP) – Tamil, one of India’s ancient Dravidian languages, is to have its own government-funded institute, Tamil Nadu state’s chief minister said.The federal government has agreed to set up the International Institute of Classical Tamil Language in the state capital Chennai, where language politics have often boiled over. M. Karunanidhi […]
” in Marks & Spencer partnership
May 30, 2007 (LBO) – Sri Lankan apparel Giant MAS Holdings is building a ‘Green Plant’ through its partnership with UK’s Marks & Spencer, to reduce waste and be environmentally friendly. The firm says it is developing a bio degradable packaging and card board hangers and has been sourcing part of its organic cotton supplies […]
Capital Loss
May 30, 2007 (LBO) – Tableware exporter Dankotuwa Porcelain has announced plans to reduce its share capital to wipe off accumulated losses amounting to 244 million rupees, making it the first company to do so after a new company law came into effect. A company statement said it proposes reducing the stated capital to 231.5 […]
Asset Backed
May 30, 2007 (LBO) – Sri Lankan companies that securitize leases will get to retain capital allowances and be exempt from stamp duty under a new law being drafted by capital markets regulators, officials said Monday. Such instruments required mature markets, developed infrastructure, comprehensive legislation, and human expertise. Asset-securitization would help reduce the cost of […]
Human Capital
May 30, 2007 (LBO) – The Securities and Exchange has hired three new specialists to push asset management, debt markets and communications, the regulator said Wednesday. Namal Kamalgoda has been appointed as, Director, Capital Market Development – Asset Management. He was chief investment officer at Eagle NDB Fund Management Company which had 18 billion rupees […]
Sri Lanka travel ban only to the north and east: UK
May 30, 2007 (LBO) – Britain is advising its citizens not to travel to the north and east of Sri Lanka, but they are free to visit other parts of the country, the UK High Commission (embassy) in Colombo said. Sri Lanka’s total tourist arrivals are down 19.9 percent so far this year. “Some recent […]
Some 30,000 Sri Lankans return home in east: UNHCR
GENEVA, May 29, 2007 (AFP) – Some 30,000 Sri Lankans who had fled fighting in the east of the country have returned to their homes over the past two weeks under a government resettlement plan, the UN refugee agency said Tuesday.The office of the UN High Commissioner for Refugees, which is monitoring the process, said […]
Deal Flow
May 29, 2007 (LBO) – Globeleq, a unit of CDC investment group which is raising a billion dollars by selling power sector assets in Sri Lanka and other countries, says it is looking for new projects. “This is excellent news for emerging markets. Greater access to reliable energy continues to be a high priority for […]
Sri Lankan capital on alert after bomb kills seven civillians
May 29, 2007 (AFP) – Security forces and police stepped up security in the Sri Lankan capital on Tuesday after suspected Tamil Tiger rebels set off a roadside bomb killing seven civilians, officials said. All vehicles entering Colombo were subjected to individual searches by heavily armed troops and police, a police spokesman said. The move, […]
Sri Lanka aid donors get security guarantees for workers
May 29, 2007 (AFP) – Key Sri Lankan aid donors Tuesday announced the government had offered security guarantees for their workers who have been accused by state media and ministers of supporting Tamil Tiger rebels.The 10-point “guiding principles” for security followed talks with the government after the killing of 17 workers from a French aid […]
‘s former food and drug regulator sentenced to death
BEIJING, May 29, 2007 (AFP) – A Beijing court sentenced the former head of China’s food and drug administration to death Tuesday on corruption charges, state media reported.Zheng Xiaoyu, the former director of China’s State Food and Drug Administration, was convicted for taking bribes and dereliction of duty, the Xinhua news agency said.The sentence was […]
Insurance Reload
May 29, 2007 (LBO) – Ceylinco Insurance is tapping into Sri Lanka largest mobile subscriber base with a pre-paid card insurance scheme with Dialog Telekom, officials said. Sri Lanka’s insurance penetration remains poor at three percent for an island of 20 million people. The accident insurance cover package premiums are priced between five and 20 […]