Author: lbostgadmin
Norway launches fresh bid to save Sri Lanka truce
July 26, 2006 (AFP) – Peace broker Norway will launch a fresh bid to save Sri Lanka’s troubled peace process ahead of a September 1 deadline set by Tiger rebels for European truce monitors to quit, officials said Wednesday. Special envoy Jon Hanssen-Bauer will arrive on the island in the “early part of August” to […]
‘s army chief back at work after bombing
July 26, 2006 (AFP) – Sri Lanka’s army chief Sarath Fonseka has resumed work after surviving a suicide bomb attack three months ago, military spokesman Prasad Samarasinghe said Wednesday. More than 60,000 people have been killed in the conflict.Lieutenant General Fonseka returned to the capital Colombo Tuesday after undergoing specialised treatment in Singapore for more […]
Sri Lanka launches air attacks on Tiger rebels
July 26, 2006 (AFP) – Sri Lankan war planes bombed suspected Tamil Tiger positions in northeast Sri Lanka Wednesday after the rebels allegedly blocked an irrigation canal, a government minister said.Israeli-built Kfir jets pounded bases of the rebels at Maavilaru and Hirugalaru in the northeast district of Trincomalee where the Tigers had blocked the waterway, […]
Aitken Spence Hotels re-brands its Maldivian properties
July 26, 2006 (LBO) – Aitken Spence Hotels re-branded its Maldivian properties under a new Adaaran brand, with six of its resort products coming under the new umbrella. The hotels will be branded in four tiers – Adaaran Select, Adaaran Club, Adaaran Prestige and Adaaran Ayurveda Village the company said Wednesday. The group also recently […]
Sharp Rise
July 26, 2006 (LBO) – Hatton National Bank, the island’s second biggest privately owned lender by assets, Wednesday posted a net profit of 506.46 million rupees for the three months to June, up 48 percent from 343.09 million rupees in the same period last year. For the six months to June, the group’s income rose […]
”
July 26, 2006 (LBO) – Fitch Ratings said Wednesday it has upgraded Sri Lanka’s Nations Trust Bank’s long-term debt to A(lka) with its outlook on the rating to “stable”. The ratings agency said the revision mainly reflects NTBs stronger financial profile, equity infusion post merger with Mercantile Leasing Ltd (MLL) and an expanded asset base. […]
‘s Leasing securitsed notes to A+(lka)
July 26, 2006 (LBO) – Fitch Ratings Lanka Wednesday has upgraded the Lease Backed Trust Certificates issued by People’s Leasing Trust Nine to ‘A+(lka)’ from ‘A(lka)’. People’s Leasing trust nine, is a special purpose vehicle created by People’s Leasing Company of Sri Lanka (PLC) for the sole purpose of this transaction. The rating action says […]
Sri Lanka urges nationals in Lebanon to stay put
July 25, 2006 (AFP) – Sri Lanka, which has the largest contingent of expatriate workers in Lebanon, wants those trapped in the conflict to stay put and those who have fled the bombings to return, a minister said Tuesday. “We are not encouraging them to come back. In fact, we want them to go back […]
Breakthrough
July 25, 2006 (LBO) – The Sri Lankan government bought two weeks grace period from petroleum sector trade unions late Tuesday, with fuel stocks expected to hit Colombo city by midnight. Unions struck work demanding Asantha de Mel, the head of a key petroleum facility is removed, as they feared his appointment was the first […]
‘s “noodle bowl” effect
TOKYO, July 25, 2006 (AFP) – The breakdown of the WTO talks is likely to encourage the further proliferation of bilateral free trade pacts in Asia that have raised concerns about a “noodle bowl” of overlapping rules, analysts said. East Asian nations have already been rushing to negotiate individual agreements to remove barriers to trade, […]
” facility, one of last in Asia
SINGAPORE, July 25, 2006 (AFP) – There will be no more shouting or waving of hands in obscure signals from September when one of Asia’s last traditional “open outcry” exchange trading facilities is closed in Singapore.The Singapore Exchange said Tuesday its open outcry facility will shut at the close of business on Friday September 29 […]
Early Lead
July 25, 2006 (LBO) – Chinese telecommunications firm Huawei Technologies is expecting around 30 percent gain in sales of third generation handsets within one-year of its release in Sri Lanka, officials said Tuesday. Huawei’s Product Manager P Sanjeev declines to say how many CDMA data cards have been sold so far. “Its hundreds and hundreds. […]