Author: lbostgadmin
Brent hits nine-month high, New York light sweet low
NEW YORK, May 24, 2007 (AFP) – Crude oil prices closed mixed Thursday as the market focused on healthy stocks of crude in the United States and the contested nuclear program of oil producer Iran. New York’s main oil futures contract, light sweet crude for delivery in July, dropped 1.59 dollars to end at 64.18 […]
General Growth
May 25, 2007 (LBO) – Janashakthi Insurance Co. Ltd, says general insurance premiums grew 37 percent in the first quarter with motor insurance growing 40 percent. The general insurance has grossed 1,028 million rupees, which was up 277 million for the March quarter. Gross written premium of the life side has also grown 27 percent. […]
Dubai Flight
May 25, 2007 (LBO) – Sri Lanka government and Emirates airlines would soon have discussions on extending Srilankan Airlines’ management deal with the Dubai based carrier, a top official said. “A team is coming to meet the President on this,” Finance Ministry Secretary P B Jayasundera told LBO Friday. Dubai government-owned Emirates has a 10-year […]
Sri Lankan women still earn less than men
May 24, 2007 (LBO) – Women with qualifications and experience similar to males get paid an average 18 percent less, according to research, but the government says otherwise. Governments and companies in poor countries like Sri Lanka can’t afford that level of intervention. Women with similar education, location and experience as men were employed in […]
Oil Numbers
May 24, 2007 (LBO) – Lanka IOC, a unit of the Indian Oil Corporation has posted higher profits in the March quarter helped by a provision write-back and supply of refined products to the Ceylon Petroleum Corporation. Lanka IOC posted net profits of 874 million rupees in the 3-months to March (344.7 million rupees in […]
Sri Lanka navy held Delft islet in Jaffna attacked by Tamil Tigers
May 24, 2007 (AFP) – Heavy clashes erupted Thursday between government troops and Tamil Tiger rebels on a remote islet off Sri Lanka’s northern Jaffna peninsula, military sources said.Government troops and Tamil rebels have been locked in combat following the breakdown of a 2002 Norwegian-arranged truce. Nearly 5,000 people have died in the last 18 […]
Tamil Tigers strike Sri Lanka capital, naval base
May 24, 2007 (AFP) – Tamil Tiger rebels blew up an army bus in Sri Lanka’s capital Thursday, killing at least one soldier, just hours after the guerrillas said they had also stormed a naval base and killed 35 sailors. The escalation in violence came days after the Tigers, who have been fighting for a […]
Sri Lanka backtracks on opposition to French FM
May 24, 2007 (AFP) – Sri Lanka distanced itself Thursday from opposition to Bernard Kouchner, who was named by the European Union to monitor human rights on the tropical island and is France’s new foreign minister.Sri Lanka’s Foreign Minister Rohitha Bogollagama said he was not against Kouchner, even though the troubled island’s ambassador-designate to Geneva […]
Money Talks
May 24, 2007 (LBO) – Shareholders of Dialog has approved its 15.5 billion rupee rights issue which is the highest cash call made on the Colombo Stock Exchange, the company said. Dialog says the financing forms a part of a larger medium term funding programme, which would include more local and off-shore debt infusions to […]
Maritime Stakes
May 24, 2007 (LBO) – The Sri Lanka Ports Authority (SLPA) is to start construction work on the planned new deep-water port in Hambantota on the island’s south coast in the first week of June, officials said. The first phase of the project is to be completed in three years and three months, SLPA vice […]
‘s tsunami affected areas get schools from United States
May 23, 2007 (LBO) – The United States has subcontracted a Sri Lankan firm to construct five schools in the south of the island a week after it awarded a contract to build four schools in the east, the US embassy in Colombo said. Access also holds the contract for the fishing harbors element of […]
Retail Takeover II
May 23, 2007 (LBO) – Listed firm Khsatriya Holdings said it had reached a deal with the owners of Kings Super retail chain to purchase its assets and brand name, which will add a billion rupee business to the firm which is building a diversified group. King™s Super chain of supermarkets has been operating for […]