Author: lbostgadmin
Sri Lanka halves foreign investment targets
October 3, 2006 (LBO) – Sri Lanka may miss its ambitious target of attracting a billion dollars in foreign investments and instead end the year with about 500 million dollars, according to official data. The tiny Indian Ocean Island attracts on average 250 million dollars worth of investments each year, despite an ethnic conflict that […]
Saudi Funds
October 03 (LBO) – Sri Lanka is in talks with Saudi Arabia to secure over 500 million dollars to expand the island’s oil refining capacity, with the state oil company hoping to fast track the project. “We are currently carrying out a feasibility study for the project and are also in talks with the Saudi […]
Hard Facts
WASHINGTON, Oct 3, 2006 (AFP) – The low-cost allure of emerging economies for Western companies is overdone once the meagre productivity of their workers is factored in, a US business group said Tuesday.The Conference Board said that fast-growing economies in China, India and eastern Europe do enjoy a comparative advantage over the United States. But […]
Norway in talks with Tigers on saving Sri Lanka peace
Oct 3, 2006 (AFP) – A top Norwegian envoy headed for talks with Tamil Tiger rebels Tuesday in a fresh bid to save Sri Lanka’s troubled peace process, but cautioned that a quick fix to the conflict could not be expected.Special envoy Jon Hanssen-Bauer is trying to get the Colombo government and the Liberation Tigers […]
Sri Lanka delays talks but rules out war to end ethnic bloodshed
Oct 3, 2006 (AFP) – Peacebroker Norway struggled Tuesday to bring Sri Lanka and Tamil Tiger rebels to the negotiating table and avert full-scale war as Colombo sought to delay any talks until at least the end of the month. The Sri Lankan government, which earlier had said it was ready for negotiations after a […]
Air attacks dim Sri Lanka peace talk hopes
Oct 3, 2006 (AFP) – Sri Lankan air raids against Tamil Tiger rebels Tuesday dimmed prospects of early peace talks between the two sides despite fresh attempts by Norway to avert a return to full-scale war, officials said.Israeli-built Kfir war planes pounded an area held by Tamil Tigers even as Oslo’s top envoy Jon Hanssen-Bauer […]
Iran seeks to fingerprint all US visitors
TEHRAN, Oct 3, 2006 (AFP) – Iran’s conservative-controlled parliament is to debate a bill that would make digital fingerprinting compulsory for all US citizens seeking to enter the country, lawmakers said on Tuesday. According to the bill, which is expected to be voted on in the next days, “all US citizens should be controlled and […]
‘s top media groups to launch new daily together
NEW DELHI, Oct 3, 2006 (AFP) – Two of India’s top rival media houses Tuesday signed an agreement to launch a new daily newspaper in the Indian capital amid a boom spurred by the economy’s rapid growth.The Times of India Group and Hindustan Times Media Limited said the new English newspaper to be sold in […]
‘s Tata Tea may uproot itself from Sri Lanka
October 3, 2006 (LBO) – Indian tea giant Tata Tea is in talks with a Sri Lankan firm to sell off its plantation venture here, officials said.Tata has invested in Sri Lanka through a controlling stake in Sunshine Holdings Ltd, which in turn owns 51 percent in Estate Management Services (Pvt) Ltd, who controls 58.75 percent […]
Expensive Dreams
October 03 2006 (LBO) – Sri Lankans are still snapping up luxury cars like Audi’s despite stiff government taxes, to discourage vehicle sales and curb fuel consumption, officials said. “Looking at the monthly fuel consumption figures, I don’t see people reducing their usage. Neither do we see people not buying vehicles either,” Jayasundara told businessmen […]
Talks underway to revive Sri Lanka peace bid
Oct 2, 2006 (AFP) – A Norwegian envoy held talks Monday with top Sri Lankan government officials aimed at reviving the island’s stalled peace process and ending an upsurge in ethnic bloodshed.Government officials said Colombo hoped the envoy’s visit could lead to a breakthrough in finalising dates for talks with the Liberation Tigers of Tamil […]
‘s top textile firm to raise 102 mln dlrs for expansion
DHAKA, Oct 2, 2006 (AFP) – Bangladesh’s biggest textile manufacturer said Monday it would raise 102 million dollars abroad to finance expansion into high value-added textiles.The company would raise 51 million dollars by issuing global depository receipts (GDRs) in foreign capital markets and another 51 million dollars through overseas bonds and shares to sponsors, the […]