Author: lbostgadmin
US to power up global interest in nuclear energy
WASHINGTON, May 21, 2007 (AFP) – The United States sought to boost nuclear power in the global energy mix Monday, by hosting China, France, Japan and Russia at the first meeting of the Global Nuclear Energy Partnership.There are 100 nuclear power plants in operation across America producing about 20 percent of US power. President George […]
Call Me
May 22, 2007 (LBO) — Sri Lanka plans to allow third parties to operate payphone booths in an attempt to popularise them in far flung areas outside the city of Colombo, a top official said. The island’s eight public switched telephone network (PSTN) operators will now be allowed to appoint a third party to operate […]
Tax Loophole
May 22, 2007 (LBO) – The new company law gives companies a better chance to avoid paying tax on investment income, a corporate law expert said Tuesday. A company’s distribution of shares to shareholders may be treated as a dividend as it can distribute dividends only out of profit under Section 60 of the Companies […]
Trade Ties
May 22, 2007 (LBO) – Sri Lanka and the Maldives plan to set up a bilateral business council this week to promote trade and investment between the two countries, the Ceylon Chamber of Commerce said Tuesday. The Maldives is Sri Lanka’s the third largest trading partner in south Asia with the trade balance being in […]
Retail Takeover
May 22, 2007 (LBO) – Listed firm Kshatriya Holdings said it had reached a deal with the owners of Kings Super retail chain to purchase its assets and brand name. . “The total consideration is linked to the valuation of the assets,” Kshatriya Holdings said in a statement to the Colombo Stock Exchange. “Kshatriya Holdings […]
Sri Lanka media freedom, human rights, law and order sliding
May 22, 2007 (AFP) – Cases of murder, abduction, disappearance and intimidation surface almost daily in Sri Lanka as the South Asian nation appears to be sliding into lawlessness and war.With a truce between the government and the rebel Liberation Tigers of Tamil Eelam (LTTE) in tatters and peace talks long since abandoned, rights workers […]
Housing Boom
May 22, 2007 (LBO) – Consolidated net profits at HDFC Bank, a mortgage lender, grew 35 percent while revenues grew 40 percent for the quarter ending March 2007. HDFC group net profit after tax rose to 113.8 million rupees from 83.9 million in the first quarter this year while total revenue increased to 521 million […]
Sri Lanka inflation may spike a little, but continue to fall: Central Bank
May 21, 2007 (LBO) – Though Sri Lanka’s inflation will continue to fall with tight monetary policy, there may be spikes due to administered price rises and seasonal factors, the Central Bank has warned. Sri Lanka’s inflation has come down steadily since the Central Bank virtually halted money printing to finance the budget deficit, but […]
Four dead in fresh violence in Sri Lanka
May 21, 2007 (AFP) – Four members of Sri Lanka’s security forces were killed and five wounded in separate attacks by suspected Tamil Tiger rebels on Monday, the defence ministry and police said. A mine that targeted troops travelling in a tractor in the northern district of Vavuniya killed two soldiers and injured four others, […]
Sri Lanka hunt for Moody replacement
May 19, 2007 (AFP) – World Cup runners-up Sri Lanka have formally started looking for a replacement for outgoing cricket coach Tom Moody, officials said here on Saturday. “We have started today advertising for a replacement for Tom Moody,” Sri Lanka Cricket (SLC) spokesman Samantha Algama told AFP. He said notices would appear on international […]
Oil exporting Iran prints enough money to drive inflation to 17%
TEHRAN, May 20, 2007 (AFP) – Iran’s inflation is set to rise to 17 percent this year with money supply growth continuing to soar, the central bank said on Sunday.A rate of 17 percent inflation in the Iranian year to March 20 would mark a 3.5 percentage point rise from the year earlier, amid rising […]
Kuwait cuts loose from sinking dollar
KUWAIT CITY, May 20, 2007 (AFP) – Kuwait on Sunday pegged its dinar to a basket of international currencies after more than four years of linking the local currency to the dollar, in a bid to reduce inflationary pressures.The oil-rich emirate had historically pegged the dinar to a basket of currencies before pegging it to […]