Author: lbostgadmin
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 […]
‘s main naval port as battle for canal heats up
Aug 1, 2006 (AFP) – Tiger rebels shelled Sri Lanka’s main navy base Tuesday, killing four sailors and wounding 30, while warplanes bombed guerrilla positions as a bloody battle for a disputed waterway entered a seventh day. The rebel Liberation Tigers of Tamil Eelam (LTTE) used 122-millimeter artillery to target the base at Trincomalee as […]
Clouds over free trade deal as South Asian foreign ministers meet
DHAKA, Aug 1, 2006 (AFP) – South Asian foreign ministers started a two-day meeting in the Bangladesh capital Tuesday amid gathering clouds over the future of a regional free trade deal. The foreign ministers of the seven South Asian Association for Regional Cooperation (SAARC) nations would try to thrash out a dispute over tariff concessions, […]