Author: lbostgadmin
‘s jumbo cabinet looks for meeting venue
Jan 31, 2007 (AFP) – Sri Lanka’s newly inducted 53-member cabinet has put off its first meeting for want of a venue and other logistical problems, press reports here said Wednesday.The delay came as Sri Lanka’s party of Buddhist monks announced they were also joining the government, a move that would further increase the massive […]
‘s east
Jan 31, 2007 (AFP) – Six policemen were killed and several more wounded Wednesday in a roadside bomb attack carried out by Tamil Tiger rebels, the defence ministry said. The rebel Liberation Tigers of Tamil Eelam (LTTE) set off a powerful Claymore mine against a bus transporting constables travelling home on leave, a ministry spokesman […]
Zimbabwe central bank to limit money printing to curb inflation, calls for fiscal restraint
HARARE, Jan 31, 2007 (AFP) – Zimbabwe’s Reserve Bank governor Gideon Gono on Wednesday unveiled a battery of belt-tightening measures including slashed money supply to put the brakes on four-digit inflation.Gono however did not devalue the local currency, saying it was no panacea. “The urgency of the need to reduce inflation impels that 2007 be […]
Credit Clamp
January 31 (LBO) – The Securities and Exchange Commission has clamped down on brokers who finance customers by giving them extra time to settle, because the practice is undermining the finances of the intermediaries, an official said. No single client (a company, a group of companies or immediate family members) can be given more than […]
New Bird
Jan 31, 2007 (LBO) – A new airline has been approved to start domestic operations, using 19-seater aircraft, officials said. Daya Aviation is a division of the Daya group, which has interest apparel, sugar manufacture, shipping and engineering. It’s 6-seater twin-engined Beechcraft Baron, and a single-engined Piper Cherokee for private use. “We are hoping to […]
Free Push
Jan 31, 2007 (LBO) – HSBC in Sri Lanka is hoping to rope in more customers to its phone banking service by offering toll-free services in three languages for the first time in Sri Lanka, officials said. Though Sri Lanka does not have a toll free number system, HSBC has arranged with fixed and mobile […]
Difficult Road
Jan 31, 2007 (LBO) – Sri Lankan car dealers have predicted tough sales after being slapped with as many as three new taxes last year that has taken the price of cars soaring. We hope to introduce smaller cars to the market in future,†says Rauf. Senok Trade Combine, which has interests in automobiles, mining, […]
Sri Lanka chases money without conditions
GALLE, Jan 30, 2007 (AFP) – Sri Lanka will lose millions of dollars unless it moves to end its bitter conflict with the Tamil rebels, diplomats and officials warned as a crucial review of international aid entered its second day. President Mahinda Rajapakse on Monday assured donors of a peaceful solution to end the Tamil […]
‘s top donors call for peace and better policies to spread prosperity wider
January 30, (LBO) – Sri Lanka’s top donors expressed concern at the internal conflict that shackled aid delivery and called for changes to the country’s development plan to tackle corruption and improve governance, at a two day aid and policy review forum that ended Tuesday. Donors earlier contrasted the economic recovery around the conference venue […]
Coal industry urged to meet tougher environmental standards
SINGAPORE, Jan 30, 2007 (AFP) – The world’s coal industry needs to sharpen up its act in order to meet tougher environmental standards amid increasing global concern over rising greenhouse gas emissions, experts said Tuesday.Mulyono added it was “unavoidable” for Indonesia, a major coal producer and exporter, to market low-grade coal because of domestic and […]
Sri Lanka apparel group Brandix to double thread making capacity in Bangladesh
Jan 30 (LBO) – American & Efird Lanka, part of top Sri Lankan apparel exporter the Brandix Group, hopes to double its thread making capacity in Bangladesh over the next year. A&E Lanka is a joint venture of Brandix Lanka, global thread manufacturer American & Efird, and Brandot International. The company manufactures sewing and embroidery […]
New Vista
LONDON, Jan 30, 2007 (AFP) – Windows Vista takes computing to a “new level,” Microsoft boss Bill Gates trumpeted Tuesday, presenting the latest version of his ubiquitous operating system at the British Library in London.Fresh from an overnight flight to London after launching the product in New York’s Times Square, Gates traced the development of […]