Author: lbostgadmin
Miscreants Beware
May 7, 2007 (LBO) – Sri Lanka’s new Companies Act will force firms to better comply with listing rules and help clean up the ‘Default Board’ of the Colombo Stock Exchange, legal experts and officials said. The new law imposes tougher penalties for non-compliance with disclosure requirements and could have a deterrent effect on listed […]
Tougher Laws
May 07, 2007 (LBO) – Sri Lanka plans to include tough anti-terror financing laws into banking, insurance and securities market, in a bid to crack down on unscrupulous people using the financial system to launder money, officials said Monday. “We are looking at including elements of our anti-money laundering and financial transactions reporting laws into […]
Jakarta Arrest
May 7, 2007 (LBO) – Indonesian police have arrested top operatives of the GoldQuest scheme, while its founder is also wanted by Interpol for his activities in the Philippines, reports said. Quest International (QI) group Chief Executive Vijayeswaran Vijayaratnam, director Joseph Bismark, and two other senior executives, Donna Marie Imson and Tagumpay Kintanar were arrested […]
Friendly Fire
May 7, 2007 (AFP) – Sri Lanka has restricted domestic flights and banned amphibious aircraft from using irrigation reservoirs following Tamil Tiger air attacks, officials said Monday.The military banned Sri Lanka’s national carrier, Sri Lankan Airlines, from operating a lucrative domestic service of Single Otter aircraft using reservoirs for take-off and landing, a defence ministry […]
10 killed in fresh Sri Lanka violence
COLOMBO, May 6, 2007 (AFP) – A landmine detonated by Tamil Tigers killed three police commandos in eastern Sri Lanka on Sunday while seven suspected rebels died elsewhere in the embattled region, the defence ministry said.The Liberation Tigers of Tamil Eelam (LTTE) attack blew up a police Special Task Force vehicle in Batticaloa district killing […]
Sri Lanka floods leave tens of thousands homeless
May 6, 2007 (AFP) – More than 125,000 people have been driven out of their homes and 16 killed following flash floods in the Sri Lankan capital and neighbouring areas, officials said Sunday. The Disaster Management Centre said at least 50,000 residents of Colombo were affected by heavy rains on Thursday and Friday. More than […]
Sri Lanka foreign policy think tank to focus on counter-terrorism
May 06, 2007 (LBO) – Sri Lanka’s foreign minister has revamped the management of a key foreign affairs think tank meant to serve as a link between strategy and decision making, with a key focus on counter-terrorism. But both sides are under international pressure to resume peace talks and end human rights violations. The Lakshman […]
Sri Lanka minus stars for Pakistan encounter
May 6, 2007 (AFP) – Sri Lanka will be without some of its star players for the three-match one-day series with Pakistan in Abu Dhabi later this month, a senior official said here Sunday. The 2007 World Cup runners-up team which will play matches with Pakistan from May 18-22 in Abu Dhabi will be without […]
ADB looks for new role after success in growing Asian prosperity
KYOTO, Japan, May 5, 2007 (AFP) – The Asian Development Bank came under pressure Saturday not to abandon the region’s poorest as it considers a major overhaul in response to warnings that it risks becoming irrelevant. With Asia’s rapid economic growth expected to wipe out widespread absolute poverty in much of the region by 2020, […]
More Protection
May 6, 2007 (AFP) – Sri Lanka is to tax film producers who use foreign stars in a move to protect its own movie market and combat cheaper imported labour from India, an industry official said Sunday. Domestic film makers who use foreign actors in a lead role will have to pay 250,000 rupees (2,400 […]
Sri Lanka faces worsening fiscal policy and investment risks as conflict intensifies
May 05, 2007 (LBO) – The use of air power by Tamil Tiger guerrillas has raised the stakes in investing in Sri Lanka and prospects of higher defence spending is increasing fiscal risks, analysts said. Sri Lanka needs fiscal discipline and increases in turnover based value added tax (VAT) rates and its base to solve […]
Sri Lankan navy says Tiger boats sunk
COLOMBO, May 5, 2007 (AFP) – Sri Lankan naval craft sank two suspected Tamil Tiger boats off the island’s northeastern coast Saturday, inflicting heavy losses on the guerrillas, a navy official said. Patrol craft engaged a flotilla of the Liberation Tigers of Tamil Eelam (LTTE) off the coast of Pulmoddai and sank two out of […]