Author: lbostgadmin
Wolfowitz support wanes as World Bank mulls his fate
WASHINGTON, May 16, 2007 (AFP) – World Bank directors were to continue talks Thursday on the fate of Paul Wolfowitz, amid reports the embattled president is negotiating an exit deal in which the bank would take some blame for the controversial pay raise he negotiated for his girlfriend. Pressure to end the controversy increased as […]
Tele Record
May 17, 2007 (LBO) – Telekom Malaysia sold a small part of its 87 percent stake in Dialog Telekom Thursday, driving turnover on the Colombo bourse to an all-time high of over 6.6 billion rupees. More than 233.6 million Dialog shares, part of the seven percent placement, done by CT Smith Stockbrokers, went through at […]
‘s black gold
May 17, 2007 (LBO) – The United States supports Sri Lanka in its effort to develop off shore oil exploration, the country’s ambassadore in Colombo said.“I invited all the countries to explore Sri Lanka’s off shore oil opportunities in the recent Offshore Technology Conference in Houston,” said the US ambassador for Sri Lanka Robert Blake. Offshore […]
Direct Contact
May 17, 2007 (LBO) – Sri Lankan unit trusts, which collectively have an investment fund of over five billion rupees, are seeking to popularise their instruments among less sophisticated investors. The island’s regulator, Securities and Exchange Commission, Wednesday pledged 13 million rupees to the Unit Trust Association to initiate public awareness campaigns on investing in […]
Multilevel Media
May 17, 2007 (LBO) – Goldquest kingpin Vijayeswaran Vijayaratnam has financed the operation of at least two Tamil language television stations, the latest in a series of reports since the arrest of top operatives of the cult-like group said. . The Asian Tribune website said Vijayeswaran owned shares in Deepam TV of UK and another […]
Musical Chairs
May 17, 2007 (LBO) – Sri Lanka’s Bank of Ceylon, Peoples’ Bank and Ceylon Electricity Board is to get new chairmen, a senior presidential aide told LBO. Gamini Wickremesinghe, the current Chairman of the Securities and Exchange Commission would head the Bank of Ceylon, replacing Udayasri Kariyawasam who would be appointed as chairman of the […]
No Risk
May 17, 2007 (AFP) – Insurance rates for airlines operating to Sri Lanka are expected to remain unchanged after the government’s decision to shut the airport here for night flights following rebel air raids, officials said Thursday.Sri Lanka’s only international airport halted night flights last Thursday in line with new security measures following several night-time […]
‘s balance of payments
COLOMBO, May 16, 2007 (AFP) – Sri Lanka recorded a trade deficit of 659.5 million dollars in the first quarter, but foreign remittances pushed the overall balance of payments into positive territory, the central bank said Wednesday.Sri Lanka’s exports in the first three months of 2007 earned 1.71 billion dollars while imports cost 2.37 billion […]
Sri Lanka appoints new minister for ports and aviation
May 16, 2007 (LBO) — Sri Lanka Wednesday appointed Chamal Rajapakse, brother of President Mahinda Rajapakse, as the new minister of ports and aviation filling a post held by sacked minister Mangala Samaraweera, officials said.President Rajapakse had sworn in the new minister early Wednesday, prior to meeting the heads of newspaper editors at his heavily […]
Sri Lanka will not depend on aid: president
May 16, 2007 (AFP) – Sri Lanka’s president vowed on Wednesday not to depend on foreign aid after Britain said it would suspend debt relief to its former colony until Colombo improves its human rights record. President Mahinda Rajapakse said he would accept “genuine aid,” but will not depend on it, his office quoted him […]
Sri Lanka police questioning of editor over Goldquest expose deplorable: rights body
May 16, 2007 (LBO) – Police has questioned a newspaper editor over reporting of the activities of the Goldquest scheme in Sri Lanka, and a subsequent controversial investigation by the country’s Central Bank. “Ms. Samarasinghe’s right to publish information as she sees fit in her capacity as a professional journalist, is no exception to the […]
World Bank board to continue Wolfowitz debate Wedneday
WASHINGTON, May 15, 2007 (AFP) – World Bank executive directors said late Tuesday they would continue deliberations about the fate of the embattled bank president, Paul Wolfowitz. In a terse, two-sentence statement, the board said it had met Tuesday to discuss a report by an investigatory bank panel that concluded Wolfowitz had broken rules in […]