Author: lbostgadmin
Cricket proves welcome distraction from bloodshed in Sri Lanka
Aug 2, 2006 (AFP) – As the bloody ethnic conflict in Sri Lanka escalates, people in the island nation are turning to their top-flight cricket team to provide a balm for the misery.When Sri Lankan troops and Tamil Tiger rebels were locked in the bloodiest ground battle since 2002 on Monday, the nation’s cricketers were […]
South Asian ministers fail to resolve India-Pakistan tariff row
DHAKA, Aug 2, 2006 (AFP) – India accused Pakistan of jeopardising a fledgling South Asian free trade deal by failing to fully implement key tariff cuts as a regional ministerial meeting wound up in Dhaka on Wednesday. India said that a Pakistani move to limit tariff concessions for Indian goods was a breach of the […]
India bans employment of children below 14
NEW DELHI, Aug 2, 2006 (AFP) – Employing children under 14 in households, roadside eateries and hotels will be illegal in India from October, the government has announced, saying it hopes to improve the plight of millions. But rights activists held out little hope that the lot of child labourers would change. A labour ministry […]
’s Nest
August 2, 2006 (LBO) – Sri Lanka’s Central Bank Wednesday said balances of dormant accounts taken over by can be claimed back by their rightful owners. According to bankers there are around 30 million dollars worth of unclaimed property and goods waiting to be claimed. In July the government announced it was taking possession of […]
Going Nowhere
August 02 (LBO) – Sri Lanka’s first toll road is still on the shelf without funding, with the government saying they will even consider commercial loans just to get the project going. The project was to go ahead with Chinese government funding lent on concessionary terms, built by a Chinese contractor. The country’s Road Development […]
Merchant Bank of Sri Lanka picks up AA3 rating
August 2, 2006 (LBO) – Merchant Bank of Sri Lanka Wednesday picked up an AA3 rating from Lanka Rating Agency for their long-term senior debt, the agency said.MBSLs liquidity position had also improved significantly during the year whilst its gearing ratio had been maintained at 1.25 times its shareholders’ funds. The agency, which gave the […]
No Oil
August 01, 2006 (LBO) – Sri Lanka says it may not entertain new investments into expensive oil fired power plants, under a proposed energy policy for the country published this week. The government shall not initiate or entertain any proposal either by electricity utilities or private developers to build power plants that will use oil, […]
On Course
August 01, 2006 (LBO) – Caltex Lanka Lubricants Tuesday reported a 16 percent spike in net profit after tax for the six months ended June this year, on the back of volume and price growth. Net profit after tax went up from 370 million to 429.7 million rupees for the first half of this year, […]
Minor Adjustment
August 1, 2006 (LBO) – Sri Lanka’s state-owned Ceylon Petroleum Corp has raised fuel prices after a two-month lag to offset a surge in global oil prices, Petroleum Minister A H M Fowzie said. From midnight Tuesday: ¢ Gasoline costs 96.00 rupees (from 93.00 rupees) ¢ Diesel costs 63.00 rupees (from 61.00 rupees) ¢ Kerosene […]
Sri Lanka on the brink after 67 killed in new violence
Aug 1, 2006 (AFP) – The truce between Sri Lanka’s warring parties was stretched to breaking point Tuesday after one of the bloodiest days in the island’s recent history left at least 67 soldiers and Tamil rebels dead.The Tamil Tigers have been waging a violent secessionist campaign since the 1970s to secure an independent homeland […]
Sri Lankan war planes pound rebels after bus blast
Aug 1, 2006 (AFP) – Sri Lankan warplanes and artillery pounded Tiger rebel positions Tuesday after one of the bloodiest days in the island’s recent history left 67 combatants dead and made a mockery of a ceasefire.The Tamil Tigers have been waging a violent secessionist campaign since the 1970s to secure an independent homeland in […]
Hawks calling the shots in Sri Lanka: analysts
Aug 1, 2006 (AFP) – Sri Lanka’s ordering in of war planes and artillery to open a minor irrigation canal blocked by Tiger rebels is an over-reaction and a sign hawks are calling the shots, analysts said Tuesday. “Water is the life blood and very important, but could this not have been settled through negotiations […]