Author: lbostgadmin
Troops kill six Tiger rebels in east Sri Lanka
COLOMBO, Dec 14, 2006 (AFP) – Security forces shot dead at least six Tamil Tiger rebels during a confrontation in Sri Lanka’s restive eastern province, officials said Thursday. The troops and a group of fighters from the Liberation Tigers of Tamil Eelam (LTTE) clashed near Poonani on Wednesday night and security forces recovered the bodies […]
Murali twist has New Zealand in a spin
WELLINGTON, Dec 14, 2006 (AFP) – The controversy surrounding Muttiah Muralitharan’s bizarre run out which hastened Sri Lanka’s downfall in the first cricket Test against New Zealand, flared again here Thursday on the eve of the second Test. Two days after Sri Lanka said they had put the issue behind them — while maintaining the […]
Oil prices may cool in 2007 after record year: analysts
LONDON, Dec 14, 2006 (AFP) – Crude oil prices could head lower in 2007 after striking all-time highs above 78 dollars per barrel this year, as global production catches up with demand and geopolitical risks lessen, experts say. “This year, the main story has been the political risks story,” Global Insight oil analyst Simon Wardell […]
‘s tea estates
December 14, 2006 (LBO) – Trade union action, wage hikes and high fertiliser prices are proving a volatile cocktail of problems for Sri Lanka’s plantation sector, with dismal predictions for early next year. Green leaf production on Sri Lanka’s tea estates grew a negative 0.7 percent in the third quarter of this year over the […]
Sri Lanka to revise lease agreements between govt. and plantation companies
December 14, 2006 (LBO) – Sri Lanka’s cabinet has appointed a high level committee to help revise lease agreements currently in place between the government and regional plantation companies.A committee headed by treasury secretary P B Jayasundara will lead the government delegation to hammer out a mutual agreement between the golden shareholder (the government), regional plantation […]
China keeps position as Asian leader in outbound tourism
BEIJING, Dec 14, 2006 (AFP) – China has consolidated its position as the Asia leader in outbound tourism, with 28.6 million Chinese travelling overseas in the first 10 months of the year, state media said Thursday. The number marked an increase of 10.8 percent from the same period last year, the China Daily reported, citing […]
More Aid
December 14 (LBO) – Sri Lanka and the Asian Development Bank tied up a loan deal worth 210 million dollars on Thursday, to upgrade national highways and water sector. A loan package of 150 million dollars will be used to widen and rehabilitate a network of 350 kilometres of roads, including improving and replacing bridges, […]
Stable Rating
December 14 (LBO) – Rating agency Fitch gave pawn brokering business Edirisinghe Trust Investments a ‘B+(lka)’ long term rating, but said the company was hampered by low profitability and weak management systems. The company was founded in 1967 by the Edirisinghe family and remains a closely held family company. ETI is a registered finance company […]
Sri Lanka to raise US$100 mn from syndicated loan
December 14, 2006 (LBO) – Sri Lanka Thursday signed up for a 100 million dollar syndicated from Citigroup to help pay for budgetary and balance of payment support, a top official said. Fitch gave Sri Lanka a BB-minus rating while Standard and Poor’s awarded it an even lower B+ sovereign rating. “We (the government) signed […]
‘s economy grows 7.4 percent in the third quarter
December 13, 2006 (LBO) – Sri Lanka’s economy grew 7.4 percent in the third quarter of this year, the island’s Census and Statistics Department said Wednesday, but an escalation in hostilities could dampen future economic progress. The department, which is the main agency that prepares the country’s national accounts, said growth during the third quarter […]
’s exports dip by over 11% in Oct on fall in apparel, tea and industrial goods
December 13 (LBO) – Sri Lanka’s exports dipped by over 11 percent in October, the country’s Central Bank said Wednesday, on the back of a fall in exports of tea, textiles and apparel and industrial goods. Exports stood at 537.3 million dollars in October, an 11.5 percent drop on a high base of 607 million […]
ADB pumps in additional US$ 60 mn for water project due to cost overruns
December 13, 2006 (LBO) – A sudden rise in construction prices, government duties and taxes, has forced the Asian Development Bank to stump up an extra 60 million dollars to improve water and sanitation conditions in conflict and tsunami hit regions, the bank said Wednesday. Mooted under the Secondary Towns and Rural Community based Water […]