Author: lbostgadmin
Sri Lanka and LTTE agree to talk peace in October : Norway
Sri Lanka peace talks set for October: Norway Sept 12, 2006 (AFP) – Sri Lanka’s government and the Tamil Tiger rebels have agreed to “unconditional peace talks” in the first week of October, top Norwegian peace broker Erik Solheim told AFP Tuesday. The decision by the government and the rebel Liberation Tigers of Tamil Eelam […]
Co-chairs to Sri Lanka peace process welcome peace talks, call for maximum flexibility
Sept 12, (LBO) – Three of the co-chairs which underwrote Sri Lanka’s peace process, has welcomed the decision of the government and Tamil Tigers to unconditional talks, and called for maximum flexibility and and end to violence by both parties. They also welcome the President’s recent moves to work with other political parties to develop […]
Global markets face correction : IMF
SINGAPORE, Sept 12(AFP) – Global financial markets could face major corrections as investors appear to have made scant provision for risks that could hamper economic growth, the International Monetary Fund said Tuesday.“With less accommodative external financing conditions, EM (emerging market) countries that still rely heavily on external financing need to reduce vulnerabilities and pursue reforms […]
Time Please
September 12, 2006 (LBO) – Sri Lanka’s banks has sought extra time from monetary authorities to report dormant accounts with only ten banks reporting details so far, an official said. “Ten licensed commercial banks have already submitted their reports,” Secretary General of the Sri Lanka Banks’ Association Upali de Silva said. Banks were earlier asked […]
Higher Plane
September 12, 2006 (LBO) – Sri Lanka’s Janashakthi Insurance Company Ltd said its profits grew 324 percent to 209.5 million during the financial year ended December 2005. The privately held insurer reported 32.6 percent sales growth of 3.86 billion rupees despite facing stiff competition for a slice of the country’s tiny insurance market. Income from […]
Sri Lanka raises US$105 mn in dollar bonds
September 12, 2006 (LBO) – Sri Lanka Tuesday raised 105 million dollars through a bond issue aimed at the domestic market.The Sri Lanka Development Bonds carries tenures of two and three years and the Central Bank said the issue was oversubscribed when the issue closed this evening. The bank accepted 70 million dollars in two-year […]
Sri Lanka expects 7.7% GDP in 2Q06; plays host to Commonwealth Ministers parley this week
Sept 11, 2006 – (LBO) Sri Lanka’s recent economic growth performance fits well with the underlying theme of the upcoming Commonwealth Finance Ministers’ meeting, a top official said. “We have had economic growth of 8.1 percent in the first quarter and 7.7 percent is expected in the second quarter,” Deputy Governor of Sri Lanka’s Central […]
Burning Question
Sept 11, 2006 (LBO) – Oil will feature high on the agenda when Commonwealth finance ministers meet in Colombo, with delegates due to share ideas on how small countries like Sri Lanka can tide over soaring costs of crude. “Major issues being taken up will be high oil prices in addition to trade related issues […]
Sri Lanka troops, rebels trade fire
Sept 11, 2006 (AFP) – Sri Lankan troops and Tamil Tigers traded artillery fire across the island’s northeast Monday, a day after the guerrillas accused the government of sabotaging a new peace effort.The rebel Liberation Tigers of Tamil Eelam (LTTE) hit an army camp in the east of the island using long-range mortar fire, and […]
Tesco talks to enter Indian retail market to close Oct 10: report
NEW DELHI, Sept 11, 2006 (AFP) – British supermarket giant Tesco and Bharti Enterprises are to wrap up talks by October 10 that could bring the first overseas grocery chain to Indian consumers, a report said Monday.“Planning is underway and a team is carrying out extensive research and is testing various models,” Bharti chairman and […]
Spreading Fat
Sept 11, 2006 (LBO) – Sri Lankan producers of vanaspati a vegetable oil, are trying to break into the domestic market and diversify exports after being stung by recent Indian import controls. There are about 12 local manufacturers of the hydrogenated palm oil and similar product bakery shortenings a vegetable fat used largely for industrial […]
Different Package
Sept 11, 2006 (AFP) – Finance ministers and top officials from Commonwealth countries meeting Monday in Sri Lanka’s capital said they will seek ways to cancel billions of dollars in debt owed by poor nations.Don McKinnon, the head of the 53-member Commonwealth, said he hoped finance ministers will be able to focus attention on debt […]