Author: lbostgadmin
Singapore PM calls for bigger Asian role in IMF
SINGAPORE, Sept 13, 2006 (AFP) – Asia deserves a bigger role in the International Monetary Fund (IMF) to reflect its growing contribution to the global economy, Singapore’s former prime minister said in remarks published Wednesday.“Asia contributes to about a quarter of the world’s GDP (gross domestic product), but Asia only has about 10 percent of […]
Steady Growth
Sept 13 (LBO) – Sri Lanka and India are likely to clock in about three billion dollars in bilateral trade in the next year, despite some troubled investments, India™s finance minister Shri Chidambaram said Wednesday. The two countries saw trade grow from 650 million dollars six years ago when the Indo-Lanka free trade deal was […]
Hollywood vs. China
BEIJING, Sept 13, 2006 (AFP) – Six Hollywood studios said Wednesday they had filed suit against Chinese firms for allegedly selling illegal copies of their movies, in a case aimed at curbing the rampant piracy of Western films here. More than 90 percent of films sold in China on DVD are estimated to be pirate […]
Vehicle Rating
Sept 13 (LBO) – Sri Lanka’s largest leasing company People’s Leasing got a stable A-(lka) long term rating from Fitch Ratings Lanka, led by strong growth in its vehicle lease portfolio. The company’s vehicle lease portfolio has tripled between 2003 and 2006, with commercial vehicles such as buses and lorries accounting for a bulk of […]
Sri Lanka government dollar bond buyers demand higher yields and shorter maturities
Sept 13 (LBO) – Buyers of Sri Lanka government dollar bonds have demanded higher yields, and shorter maturities, at the latest action which closed this week. At the dollar bond auction which closed this week, weighted average yield for 2-year bonds were 144.06 basis points above the London Interbank Offered Rate (LIBOR) while the premium […]
Sri Lanka’s Industrial Finance may have to relax credit policies to grow faster: Fitch
Sept 13, (LBO) – Fitch Ratings has given a BB+ (lka) rating with a stable outlook for Industrial Finance Limited (IFL), a company which operates mainly in Sri Lanka’s western province, but the agency said it may have to relax credit policies and boost capital if it wanted to grow faster. Though the company had […]
‘s economy expands by 7.9% 1H06
September 12, 2006 (LBO) – Sri Lanka’s economy grew at a blistering pace of 7.9 percent for the six months to June the Central Bank governor said, aided by growth in manufacturing, services and agriculture produce. Analysts say reserve growth has tapered off since mid 2006, and the government has ratcheted up dollar borrowings to […]
Sri Lanka earns US$ 220 mn in foreign investments
September 12, 2006 (LBO) – Sri Lanka has bagged 220 million dollars in direct investments for the six months to June, the island’s key promotional agency said Tuesday, with money mainly coming from telecommunications and IT sectors. However, the BOI says smaller investors are also difficult to monitor or control, with some cases of fraud […]
Constable killed, bomb wounds six in Sri Lanka
TRINCOMALEE, Sept 12(AFP) – A policeman was shot dead and six people were hurt in a bomb attack in Sri Lanka on Tuesday after weekend fighting between government and rebel forces left 185 combatants dead, officials said.The injuries occurred when a parcel bomb exploded as a police vehicle drove by in Trincomalee town, police said, […]
Sri Lanka agrees to expand depleted truce monitoring mission
Sept 12, 2006 (AFP) – Sri Lanka has agreed to expand the peace monitoring mission in the war-torn country to include observers from other countries after Tamil Tiger rebels expelled European Union member states, an official said Tuesday. Defence spokesman Keheliya Rambukwella said the island’s main financial backers meeting in Brussels on Tuesday were expected […]
Sri Lanka moves to save war-torn truce as donors meet
Sept 12, 2006 (AFP) – Sri Lanka on Tuesday agreed to a key concession to try to save the collapsing ceasefire as foreign aid donors were set to rap the island’s warring parties over escalating bloodshed.Diplomats said the SLMM would possibly include nationals from Switzerland and New Zealand.Sri Lanka defence spokesman Keheliya Rambukwella said the […]
Sri Lanka, Tamil Tigers agree to hold peace talks
BRUSSELS, Sept 12, 2006 (AFP) – Sri Lanka’s warring parties have agreed to unconditional peace talks next month, the battle-scarred country’s international dialogue partners announced in Brussels on Tuesday.The decision by the government and the rebel Liberation Tigers of Tamil Eelam (LTTE) was discussed at a meeting of the island’s main foreign aid donors here, […]