Author: lbostgadmin
Trade Fiasco
Sept 21 (LBO) – Another round of Indo-Lanka trade talks ended this week, with no firm agreement on resuming controversial duty free exports of vanaspati oil from Sri Lanka to India. The Vanaspati Association of Sri Lanka says however that they have been kept in the dark about talks. Vanaspati is a hydrogenated vegetable oil […]
Advertisers take advantage of tighter Sri Lanka security
COLOMBO, Sept 20, 2006 (AFP) – The fear of bomb attacks in Sri Lanka following an upsurge in violence has spawned extra security checks, making daily life more difficult, but the hassle has also created unexpected marketing opportunities, according to advertising specialists. At road-blocks, for instance, prominent adverts for products such as the pain-killer “Panadol” […]
Three dead and curfew in Northeast Sri Lanka
COLOMBO, Sept 20, 2006 (AFP) – Three people were shot dead by unidentified gunmen in northeast Sri Lanka, police said Wednesday, and a curfew was put in place in a nearby town following an earlier massacre of 10 Muslim men.Tamil rebels have waged a drawn-out insurgency for a separate ethnic homeland in Sri Lanka, a […]
The corporate takeover that triggered a coup
SINGAPORE, Sept 20, 2006 (AFP) – The overthrow of Thai Prime Minister Thaksin Shinawatra marked the culmination of a crisis partly triggered by the controversial Singaporean takeover of a major conglomerate from his family.Singapore’s state-linked investment firm Temasek Holdings bought 49 percent of the Thaksin family-controlled telecom giant Shin Corp. in January for nearly 1.9 […]
Talk Cheap
Sept 20 (LBO) – Payphone operator Tritel Services Limited said Wednesday it would slash outgoing call charges by 33 percent, expanding reach into rural markets. œOur priority focus is on rural communities as well as the less affluent urban community who find fixed telephony and mobile services too expensive and out of their reach, Ananth […]
Live Trading
Sept 20 (LBO) – Sri Lanka’s Millennium Information Technologies (MIT) said Wednesday it had developed an automated trading system for the Nairobi Stock Exchange. Live trading began on September 11 with the new system, resulting in record trading volumes of 3761 trades compared to 759 trades on the same day the year before, MillenniumIT said […]
Private Space
Sept 20 (LBO) – The government has offered private traders space on board state chartered vessels carrying food to war torn Jaffna on possible commercial terms, to build up a buffer stock ahead of monsoon rains in November that would make passage difficult. The government has been sending essential food items like rice to the […]
Airlines, tour operators see no disruption in Sri Lankan traffic to Thailand after coup
Sept 20 (LBO) – Tourist and business traffic from Sri Lanka to Thailand is expected to go on as normal following a military coup there, with few inquiries and cancellations, tour operators and airlines said. Thailand is popular among Sri Lankans as a leisure and shopping destination for with business travel contributing. Our operations will […]
Luxury resort and spa chain Banyan Tree shelves plans for Sri Lanka
SINGAPORE, September 20 (LBO) –Singapore-based luxury resort and spa chain Banyan Tree has shelved plans for Sri Lanka, as the leisure industry takes a beating amidst an upsurge in violence. The luxury leisure operator recently opened a spa at Cinnamon Grand Hotel in Colombo, besides a managing the Deer Park Hotel in Giritale under its […]
Sri Lanka GoldQuest controversy takes new turn with Central Bank denial
Sept 19 (LBO) – The controversy over the sudden recall of police investigators probing the GoldQuest scheme took a new turn, with the authorities denying that the move would affect an ongoing anti-pyramiding drive. The withdrawal of the police investigators from the bank’s unit investigating pyramid schemes will not affect ongoing investigations, the Central Bank […]
Price Cushion
SINGAPORE, September 19, 2006 (LBO) – Sri Lanka said Tuesday it was moving towards eliminating oil subsidies that are threatening to blow a hole in the nation’s budget and asked lenders for financial help to tide over oil shocks. Public Administration minister Sarath Amunugama said the government has responded appropriately to the sustained sharp rise […]
Muslims buried in Sri Lanka after being hacked to death
POTTUVIL, Sept 18 (AFP) – The bodies of 10 Muslim men found hacked to death were buried in the farming village of Pottuvil on Monday as the Tamil Tiger rebels and Sri Lankan forces blamed each other for the massacre.The victims, mostly between 20 and 27 years old, were brought to the Jumma Mosque in […]