Author: lbostgadmin
Tourists travel cautiously May arrivals show slow growth
June 20, 2006 (LBO) – Tourist arrivals to Sri Lanka showed slow growth in May as local violence grows and travel from some European and South Asian markets slide. Arrivals were up about 7.2 percent in May to 43,824 travellers over the same month last year, with top generating markets India and the United Kingdom […]
Sri Lanka policy turns more hawkish
June 20, 2006 (Dow Jones)–Sri Lanka’s central bank signaled a more hawkish stance when it increased its policy rates sooner than expected last week.Although a return to a tightening had been anticipated, Friday’s surprise 25-basis-point increase each in the repurchase and reverse repo rates highlighted the authorities’ growing concerns over rising inflation. “This month’s increase […]
Sri Lanka government issue dollar bond issue at lower rates
June 20 (LBO) – A Sri Lanka government dollar bond issue targeting local investors was oversubscribed Tuesday, allowing the government to roll-over maturing bonds at much lower rates. A 50 million dollar loan from Bank of Ceylon is also maturing on June 22nd which was issued at premium of 185 basis points above LIBOR. -LBO […]
Sri Lanka invites Tigers to talks after bloody weekend
June 19, 2006 (AFP) – Sri Lanka Monday invited Tamil Tiger rebels to negotiate peace and save their collapsing ceasefire as two more soldiers were killed in a weekend of violence that left over 50 people dead. Defence officials said security forces Monday found the bodies of two soldiers shot dead by Tamil Tiger guerrillas […]
Bangladesh garment workers to stage fresh protests for wage hikes
DHAKA, June 19, 2006 (AFP) – Bangladesh garment workers will stage a series of mass protests this week to demand a 30 percent salary hike amid continuing unrest, officials said Monday. The planned demonstrations follow rioting last month in which 16 factories were torched and hundreds ransacked by employees. At least two people were killed […]
‘s new Human Rights Council works
GENEVA, June 19, 2006 (AFP) – The new UN Human Rights Council, which started its first-ever session here Monday, is made up of 47 nations who pledged before they were elected to respect international human rights standards.The body aims to be more effective than the widely-criticised UN Commission on Human Rights, which was disolved in […]
Joint Force
FRANKFURT, June 19, 2006 (AFP) – Finnish telecommunications giant Nokia and German rival Siemens said Monday they would merge their telecoms equipment and network activities in an attempt to close the gap on market leader Ericsson. Nokia and Siemens said in a joint statement they planned to set up a 50-50 joint venture, to be […]
Outback PC
June 19 (LBO) – Intel Corp together with Sri Lanka’s ICT Agency will soon pilot a rugged alternative to the conventional PC for rural areas, running on a car battery if electricity goes out. The dust resistant, low power demand Intel model called a ˜Community PC’, developed and just rolled out in India, could find […]
Bald Spot
June 19, 2006 (LBO) – A new securities law giving legal muscle to companies who raise debt by securitising the assets are likely to come through this year as part of a government lending agreement with the Asian Development Bank. Securitisation process which uses future cashflows to back a debt instrument, has been carried out […]
’s tourist board chief prevented from leaving the country
June 19, 2006 (LBO) – The chairman of the Sri Lanka’s tourist board was prevented from leaving the country at the Bandaranaike International Airport early Monday morning, an official said. Immigration officials had stopped Udaya Nanayakkara from leaving Sri Lanka on a complaint from the Bribery Commission, Controller of Immigration P B Abeykoon said. Nanayakkara […]
Media blitz against child sex tourism in Sri Lanka
COLOMBO, June 19, 2006 (AFP) – The United Nations agency for children Monday announced the launch of a media campaign to discourage the sexual exploitation of Sri Lankan children by tourists.“A child who is a victim of sexual abuse may suffer serious, lifelong or even life-threatening consequences,” said UNICEF senior programme coordinator Yasmin Ali Haque.UNICEF […]
Fuel Buddies
June 19, 2006 (LBO) – Clubbing with big brother Emirates Airlines to get bulk fuel discounts and hedging oil prices on future markets has helped SriLankan Airlines to shave 11 million dollars of its energy bill, its Chief Executive said. Emirates, the largest Arab carrier that owns 43.6 percent of SriLankan, is also lending a […]