Author: lbostgadmin
Quiet Settlement
Nov 03 (LBO) – Sri Lanka’s securities watchdog settled a case against Mr. Sajee Lakshman Perera, relating to share trading of Ceylon Grain Elevators (CGE). The accused was charged with creating a false or misleading impression relating to the market and price of CGE shares and misleading the SEC in its investigations, the Securities and […]
Promised Land
Nov 03 (LBO) – An Indo-Lanka economic partnership agreement to free up services like banking and insurance, professional services and aviation, has been delayed to early next year. India and Sri Lanka have had about seven rounds of technical level talks on a Comprehensive Economic Partnership Agreement (CEPA), since 2003. The agreement hopes to deepen […]
Sri Lanka rupee gains on dollar inflows; cash markets awash
November 03, 2006 (LBO) – The rupee gained against the dollar to hit an intra-day high of 106.40 Friday, to settle around 106.70 levels, while cash markets also turned liquid on offical capital flows, dealers said. The rupee closed at 107.20 against the dollar Thursday while cash markets turned liquid from rupees generated through an […]
’s financial community
November 02, 2006 (LBO) – Sri Lanka’s central bank met senior executives of the country’s financial community this week, in a bid to de-mystify recent monetary policy measures taken to stabilise the economy and reinforce its resolve to fight inflation. Governor Nivard Cabraal said measures taken to contain credit growth were aimed at curbing inflationary […]
Soldier killed in artillery duel in Sri Lanka
Nov 2, 2006 (AFP) – A soldier was killed and two injured as Sri Lankan troops and Tamil rebels traded fire across a de facto front line in the embattled Jaffna peninsula Thursday, the defence ministry said.The rebel Liberation Tigers of Tamil Eelam (LTTE) sparked the battle and security forces retaliated in kind, the ministry […]
Five killed in Sri Lanka air attack near hospital
Nov 2, 2006 (AFP) – At least five people were killed Thursday when Sri Lankan war planes bombed a house near the main hospital inside rebel-held territory in Kilinochchi, Tiger guerrillas said. The rebel Liberation Tigers of Tamil Eelam (LTTE) said Israeli-built jets carried out two sorties over the town of Kilinochchi and the blasts […]
‘s Tiger Airways eyes six new South Asian routes in 2007: report
SINGAPORE, Nov 2, 2006 (AFP) – Singapore’s Tiger Airways has applied to India and Sri Lanka to fly to six destinations as part of a bid to ramp up its South Asian network, its chief executive said in remarks published Thursday. The Singapore-based budget carrier hopes to get the nod to fly next year to […]
Euro bills in Germany mysteriously disintegrating: report
BERLIN, Nov 2, 2006 (AFP) – Euro bills in Germany have begun mysteriously disintegrating, leading police to suspect a prank using sulfuric acid, the top-selling daily Bild reported Thursday.The state crime offices in Berlin and the southwestern state of Rhineland-Palatinate have opened investigations after a number of bills began self-destructing across the country. The first […]
Wider Footprint
November 2, 2006 (LBO) – Sri Lanka’s number two mobile operator Celltel said on Thursday it has built 200 new towers in six months, to virtually double its coverage in key towns. Celltel, which launched an analogue network in 1989 to become the first phone company in South Asia to go cellular, is splashing out […]
New Cap
November 2, 2006 (LBO) – Manju Hathotuwa former head of Sri Lanka’s ICT Agency has secured a posting with the World Bank for 18 months. An engineer by profession, he has worked across many local organizations serving industries such as IT and property development. .
Estate worker unions expect quick close to wage talks; tea production hits new highs
Nov 02 (LBO) – Sri Lanka posted record tea production in September, as estate worker trade unions thrash out a wage increase for over 250,000 plantation workers. Wage Talks Meanwhile, estate worker trade unions say they expect a quick closure in wage talks, with union officials downplaying strike action on some estates in Hatton over the […]
Aye, Aye
November 02, 2006 (LBO) – Sri Lanka’s Sampath Bank Ltd’s shareholders Thursday voted in favour of raising the bank’s authorised share capital and lifting the maximum shareholder limit to be on par with Central Bank guidelines. Sampath Bank may also be a possible takeover target once again, with a single shareholder making moves to own […]