Author: lbostgadmin
Tough Action
December 21 (LBO) – Trade unions of telco giant Sri Lanka Telecom have threatened to go on strike together with other public sector unions, if a wage dispute is not settled by December 28. Unions representing about 6000 non-executive workers at the state telecom giant have demanded a 17.5 percent wage hike for non-executive grades, […]
New wage deal for estate workers to hike production costs by 23%: analysts
December 21, 2006 (LBO) – Sri Lanka’s newly minted wage deal for estate workers is expected to hike cost of sales by up to 23 percent for plantation companies with high exposure to tea, analysts said Thursday. Plantation companies and estate worker trade unions agreed on a daily wage of 260 rupees on Tuesday, followings weeks […]
S&’s B+ rating; negative outlook remains on war fears
December 21, 2006 (LBO) – International rating agency Standard & Poor’s Thursday retained Sri Lanka’s B+ rating, but warned the island needs to make headway to tackle reforms and make a tangible progress in settling its long running separatists conflict. In April S&P downgraded Sri Lanka’s credit outlook to negative from stable, amidst an escalation […]
’s government to acquire property in Fort to build a Presidential Square
December 20, 2006 (LBO) – Sri Lanka’s president Mahinda Rajapakse has given notice to owners of prime property around his official residence, that their land would be acquired urgently to develop a Presidential Square. Rajapakse has issued the order, on the recommendations of the minister in charge of Urban Development. More than 4 acres of […]
Earnings Squeeze
December 20, 2006 (LBO) – Caltex Lubricants Lanka said Wednesday that earnings in 2007 will take a hit, after the government upped taxes on base oil, used as a raw material in manufacturing lubricants. The government increased a three percent cess on base oil imposed in October to six percent from November 18, with the […]
Tamil Tigers kill Sri Lankan soldier in army camp
COLOMBO, Dec 20, 2006 (AFP) – Tamil Tiger rebels attacked an army camp in northwestern Sri Lanka, killing a soldier, the defence ministry said Wednesday. The Liberation Tigers of Tamil Eelam (LTTE) raided an army camp in northwestern Mannar district on Tuesday night, the ministry said in a statement. The military retaliated, but it was […]
Tigers allege air strike amid mourning for negotiator
Dec 20, 2006 (AFP) – Sri Lankan war planes bombed inside rebel-held territory Wednesday as the militants mourned the death of their top peace negotiator Anton Balasingham, the guerrillas said in a statement. Israeli-built Kfir jets hit a civilian settlement in the district of Mullaitivu, but there were no casualties, the Liberation Tigers of Tamil […]
Tamil Tigers holding seven boys for military training: officials
Dec 20, 2006 (AFP) – Tamil Tiger rebels who seized 22 teenagers in eastern Sri Lanka freed 15 girls but were holding seven boys for military training, local officials said Wednesday.The Sri Lankan government was also recently accused by the United Nations of colluding with the Karuna group to forcibly recruit child fighters, a charge […]
‘s toymakers turn their attention to China
SHANGHAI, Dec 20, 2006 (AFP) – As children around the globe unwrap Christmas presents with “made in China” labels, some toymakers here are turning their attention to a new and potentially lucrative market — their own. For nearly 20 years, China’s 20,000 domestic factories have served as the elves of Santa Claus’s workshop, exporting a […]
Half of Tsunami donations still unused: BBC
LONDON, Dec 19, 2006 (AFP) – About half of the billions of dollars donated by individuals, companies and governments worldwide to help the victims of the southeast Asian tsunami two years ago has still not been spent, the BBC said on Tuesday. According to figures obtained by the broadcaster from a database compiled by the […]
Asian stocks recover as Thailand backs down on currency controls
HONG KONG, Dec 20, 2006 (AFP) – Asian stocks recovered from sharp falls Wednesday after Thailand’s military government backed down on imposing harsh currency controls which saw Bangkok shares lose a massive 15 percent. Elsewhere, benchmarks tended to follow local factors resulting in Tokyo closing up 1.40 percent and above the critical 17,000 points mark […]
The bricks fly in Czech toyland
KLADNO, Czech Republic, Dec 20, 2006 (AFP) – At a new factory here, real people are now putting together giant characters out of Lego building bricks for a world of make-believe. But they are also building a strategy in one of the toughest games in big business: toymaking The characters are being assembled for Legoland […]