Author: lbostgadmin
”s finance minister warns king
KATHMANDU, May 26, 2006 (AFP) – Humbled King Gyanendra must “behave” or he has no future even as a ceremonial monarch, Finance Minister Dr Ram Sharan Mahat told AFP, revealing a royal spending spree before absolute rule was brought to an end.Gyanendra’s conduct had been “very good” in the month since he relinquished his 14-month […]
Bad Advice
May 26, 2006 (LBO) – Sri Lanka’s Nawaloka Hospitals Ltd.’s fortunes swung into the red after providing hefty 284.23 million rupees for its investments in Galadari Hotel Ltd. The largely family controlled private hospital made a loss of 267.07 million rupees after making a profit of 18.97 million rupees for the fourth-quarter ended March 31, […]
Bitter Lessons
May 26 (LBO) – Sri Lanka™s top business chamber called for tough disciplinary action following a two day strike by customs officers, which paralysed imports and exports. The long-term impact on competitiveness of exports that largely depend on meeting delivery deadlines, will undoubtedly be adverse, the Ceylon Chamber of Commerce said in a statement on […]
Asian Hotels kicks off firm sales on new condominium, the Emperor
May 26, 2006 (LBO) – Sri Lanka’s Asian Hotels & Properties Ltd, a unit of conglomerate John Keells Holdings, said Friday that they have started apartment sales based on floor plans of its new condominium complex. “We have now got the floor plans of each unit to sell. Earlier we got bookings based on the […]
Plumbing Job
May 26, 2006 (LBO) – Sri Lanka’s Seylan Bank’s credit outlook could be downgraded if the bank fails to beef up its capital, improves profitability and arrest chronic problems of bad debts, Fitch Ratings Lanka said Friday. Fitch assigned a ‘BBB+(lka)’ rating for Seylan’s upcoming 4-year 1.5 billion rupee subordinated debenture and affirmed the it’s […]
EU ban on Tamil Tigers will help peace talks: Sri Lankan president
LONDON, May 25, 2006 (AFP) – An impending European ban on the Tamil Tiger rebels will leave the group with little choice but to engage in peace talks, Sri Lankan President Mahinda Rajapakse said in an interview published here Thursday.The European Union is expected to add the Liberation Tigers of Tamil Eelam (LTTE) to its […]
‘s World Trade Centre bans cars on bomb fears
May 25, 2006 (AFP) – Sri Lanka’s twin-tower World Trade Centre banned vehicles Thursday fearing a car bomb attack by Tamil separatist rebels, police and tenants of the complex said.As part of stepped-up security measures, the 39-storey office complex in the heart of Colombo blocked all vehicles from entering, Colombo’s police chief Pujith Jayasundara said. […]
Bomb scare in Colombo as Oslo mounts peace salvage bid
May 25, 2006 (AFP) – Deadly mine attacks and a bomb scare in Sri Lanka’s capital Thursday brought home the challenge faced by a Norwegian envoy who was set to arrive to salvage peace talks and a tattered ceasefire. Peace broker Oslo’s top envoy Erik Solheim, due to arrive Friday for talks with President Mahinda […]
Tamil people preparing for war: Sri Lankan rebel commander
May 25, 2006 (AFP) – The Tamil people are preparing for war and nobody can defeat them, a top Sri Lankan rebel military commander was quoted as saying Thursday.Colonel Jeyam, of the Liberation Tigers of Tamil Eelam (LTTE), was quoted by the pro-rebel Tamilnet.com website at a memorial ceremony for another senior rebel commander who […]
Sri Lanka truce monitors seek more manpower, kit
May 25, 2006 (AFP) – The Scandinavian truce monitoring mission in Sri Lanka wants to boost its numbers by at least 25 percent and is outfitting observers with flak jackets and helmets, the mission said Thursday.The request for additional personnel comes after the Sri Lanka Monitoring Mission (SLMM) said the lives of its observers had […]
Weighing Odds
May 25, 2006 (LBO) – Sri Lanka’s excessive holidays, arbitrary salary increases and the government’s reluctance to settle billions to India’s main oil retailer, is turning out to be a stumbling block for Indians to invest here, officials said Thursday. Sri Lanka also wants more shipments of clothes in key categories and a relaxing of […]
Firm Faith
May 25, 2006 (LBO) – Sri Lanka’s biggest leasing company, People’s Leasing, has begun offering Islamic financial products, catering to Muslims who regard interest-based banking as a sin, a top official said Thursday. Muslims make up around 7.5 percent of this tropical island’s population, but local financial institutions have been slow to tailor-make products to […]