Author: lbostgadmin
Got Milk?
Oct 12, 2006 (LBO) – Sri Lanka has relaxed earlier moves to ban milk powder advertising, instead regulating branded milk adverts so that liquid milk gets adequate airtime. Cabinet spokesperson and media minister Anura Yapa said Thursday that the government had agreed to regulate advertising of branded powder milk. This includes a mandatory slogan promoting […]
’s Box
October 12, 2006 (LBO) – Sampath Bank may be a possible takeover target once again, when the small bank moves to amend its articles and allow a single shareholder to own a bigger stake, an equity research report said Thursday. Sampath has no controlling shareholder, but businessmen Dammika Perera and his related companies control around […]
Banking Ed
Oct 12 2006 (LBO) – The Institute of Bankers of Sri Lanka (IBSL) will award more than 600 student members certificates at the eleventh convocation with students flocking to qualify as bankers, officials say. The only institute that is empowered by an Act of parliament to provide banking training in Sri Lanka has over 9,000 […]
Bargain Fares
Oct 12 (LBO) – Dubai based Emirates Airlines is offering a bargain single fare for Sri Lankan leisure seekers and businessmen flying to Europe this winter season. Travelers flying from Colombo to 20 destinations in Europe can buy a four month, economy class return ticket for 50,000 rupees (500 dollars), excluding taxes and fuel surcharges, […]
‘s Central Bank freezes key interest rates
October 12, 2006 (LBO) – Sri Lanka’s central bank held rates steady at its October monthly monetary meeting, two weeks after an ad hoc rate rise of 50 basis points. The bank said its benchmark reverse repurchase rate, used to manage liquidity and contain inflation, will remain at 11.125 percent. The short-term repurchase rate at […]
‘s trade deficit expands 52.4%; worker remittances top US$1.5bn
October 11, 2006 (LBO) – Sri Lanka’s trade deficit expanded 52.4 percent to 2,400 million dollars for the eight months to August, compared with the same period 2005, the central bank said Wednesday, as the island spent more to import fuel. Sri Lanka’s 24 billion dollar economy is forecasted to expand by 7.0 percent by […]
Norway demands end to Sri Lanka hostilities ahead of talks
COLOMBO, Oct 11, 2006 (AFP) – Sri Lanka’s peace broker Norway Wednesday asked the government and Tamil Tiger rebels to cease hostilities after the two parties agreed to end an eight-month deadlock in their negotiations. Norway’s top peace broker Erik Solheim welcomed the agreement between the Sri Lankan administration and the rebel Liberation Tigers of […]
At least 85 killed, over 400 wounded in major Sri Lanka battle
Oct 11, 2006 (AFP) – At least 85 people were killed and more than 400 wounded when a new military offensive Wednesday met with ferocious resistance from Tamil Tiger rebels in northern Sri Lanka, both sides said. Intense fighting halted the government’s onslaught into rebel territory, which was backed by Israeli-built Kfir jets and naval […]
At least 85 killed, hundreds injured in Sri Lanka battle
Oct 11, 2006 (AFP) – At least 75 Sri Lankan troops and 10 Tamil Tiger rebels were killed Wednesday and more than 400 soldiers wounded in a major battle in the island’s north, according to the warring parties.The military maintained that they were “compelled” to launch the offensive as a “defensive measure” to neutralise a […]
Global tension, Chinese demand to keep oil markets on edge: IEA
PARIS, Oct 11, 2006 (AFP) – Oil prices have fallen because of stockbuilding and slowing demand but a possible OPEC output cut, global instability and growth in China and the Middle East are likely to keep the market under tension, the IEA said Wednesday.The International Energy Agency forecast an increase of 1.2 percent in global […]
Bangladesh to probe Tesco child labour allegations
DHAKA, Oct 11, 2006 (AFP) – Bangladeshi textile manufacturers pledged Wednesday to investigate child labour allegations after a British television network showed children making clothes for supermarket giant Tesco.Channel 4 News had secretly filmed children as young as 12 it said were working at four factories that supply the British supermarket giant. S.M. Fazlul Hoque, […]
Singapore to offer free wireless service from 2007
SINGAPORE, Oct 11, 2006 (AFP) – Tech-savvy Singapore will offer free wireless broadband service in public areas from next year, the government said.The programme will increase the number of wireless hotspots from 900 currently to 5,000 over two years, allowing Singaporeans wireless connectivity beyond homes, offices and schools where the service is currently available, the […]