Author: lbostgadmin
Start Small
November 9, 2006 (LBO) – Most local small and medium enterprises lack support services like marketing and technical skills rather than access to credit to grow their businesses, a top Central Bank official said Thursday. Local banks are heavily weighted towards collateral base lending, instead of project based lending, which in turn makes it difficult […]
Rational Decision
November 09 (LBO) – The Central Bank of Sri Lanka has responded to a weekend news report in the continuing controversy over the sudden closure of a special investigation unit that was probing the Goldquest scheme among others.Administration Rationalization and Investigations into Prohibited Schemes This Press Release is issued to clear any misconception that may […]
Tech Ride
TOULOUSE, France, Nov 9, 2006 (AFP) – As rain clouds gather over European aircraft maker Airbus, the giant plane at the root of its problems is set to jet off on for a tour of the Asia region next Monday for a final round of technical tests.EADS, or the European Aeronautic Defence and Space Company, […]
Open Up
SINGAPORE, Nov 9, 2006 (AFP) – Asia should further liberalise its airline industry to unleash the region’s full growth prospects or risk losing billions in unrealised potential, industry experts said Thursday.“Often they are liberalisation’s biggest winners,” said Herdman. “We must ensure that the regulatory framework keeps pace with industry needs.” “We need one more revolution […]
Refugee camp bombing kills 65 in Sri Lanka
Nov 8, 2006 (AFP) – At least 65 civilians were killed and about 300 injured Wednesday when government forces shelled a refugee camp in eastern Sri Lanka, Tamil rebels and medical sources said.The bodies of the victims were brought to the Vakarai hospital inside the rebel-held part of Batticaloa following heavy artillery duels, while the […]
Shells fired at Norwegian observers in Sri Lanka
Nov 8, 2006 (AFP) – Norwegian observers in Sri Lanka were fired on by government forces during attacks on Wednesday which killed at least 65 civilians and injured about 300, Norwegian Aid Minister Erik Solheim told Norway’s NRK broadcaster. The conflict has killed more than 60,000 people since 1972, with rebels fighting for a separate […]
Sri Lanka among thousands abuse Malaysian visa deal: reports
KUALA LUMPUR, Nov 8, 2006 (AFP) – A visa-on-arrival deal aimed at attracting tourists to Malaysia had allowed thousands of foreigners to overstay in the country, reports said Wednesday.Under a move introduced on September 1, Malaysia has allowed tourists from 24 countries to apply for a visa upon arrival, for a fee of 100 ringgit […]
‘s farmers brace for new WTO era
HANOI, Nov 8, 2006 (AFP) – Vietnam’s WTO accession will impact on the 70 percent of its people who work in agriculture by securing key export markets but also threaten them with much tougher competition at home, experts say.“Vietnam’s joining the WTO is necessary and will help the country develop its agricultural sector more quickly […]
Duped
Nov 8, 2006 (AFP) – C. Sathishkumar was one of thousands of Sri Lankan youngsters who invested in an Internet promotion to evaluate products online in return for quick cash — and like the others, he lost all his money.Police said this week that the scam, allegedly run by two Indians from a firm named […]
Sri Lankan branded tea exporter Imperial Teas eyes regional subsidiaries
Nov 08 (LBO) – Sri Lankan branded tea exporter Imperial Teas may look at setting up subsidiaries in countries like China and even Kenya, to develop its brands and manage its supply chain.The company commissioned a study by MTI Consulting to develop a game plan for expansion and jumpstart almost stagnant growth over the past three […]
’07 Budget gap at 5% of GDP
November 8, 2006 (Dow Jones)–The Sri Lankan government expects the budget deficit to narrow to 5 percent of gross domestic product in 2007 from an estimated 9 percent this year due to higher tax collections and increased borrowings, the deputy finance minister said. “A key focus will be the small and medium scale industries.We plan […]
No Cash
Nov 07 (LBO) – Sri Lanka is to ask Reliance Industries of India and Petronas of Malaysia for extended credit on fuel purchases, to ease recent pressure on the exchange rate. Meanwhile, the government is also considering offering targeted subsidies for kerosene to Samurdhi beneficiaries, while allowing Ceypetco to sell at market rates, an official […]