Author: lbostgadmin
The Big Two
Banking giant HSBC says emerging markets like India and China could change the way banking is done in Asia. A top regional CEO from the bank said the influence by these countries would be felt as they absorb an increasing amount of financial resources available in Asia.rn rnldblquote The influence of these two economies is […]
Back To Work
Striking flight attendants at Sri Lankas national carrier SriLankan Airlines announced they had ended a work stoppage that forced the airline to ground flights for more than 24 hours.The Flight Attendants Union said its 600 members would return to work from 2:00 pm (0800 GMT Saturday) after securing a meeting with their chief executive officer […]
First Innings
Former Sri Lankan cricket captain Arjuna Ranatunga Friday mended fences with President Chandrika Kumaratunga and was sworn in as deputy minister of industries, tourism and investment promotion.rnOfficials said Ranatunga, 40, who refused to be sworn in last month unless he was given the sports ministry, had his appointment confirmed at a ceremony held at Kumaratungas […]
Scoring Points
Sri Lanka has made it to a list of 15 countries eligible for aid this year from the newly formed US Millennium Challenge Corporation (MCC). “Sri Lanka was selected for eligibility because of its demonstrated commitment to just and democratic governance, to economic freedom, and to the determination to invest in its people,” US Ambassador […]
Spring Cleaning
Fitch Ratings Lanka Limited has revised symbols used to communicate its national ratings in Sri Lanka, in order to achieve greater consistency with the rating symbols used by Fitch in other markets where it assigns national ratings. rnrn rnThe new symbol replaces the earlier used prefix of lquote SL rnwith the suffix lquote (sri). rn […]
Wings Clipped
A strike by flight attendants over a pay row delayed several SriLankan Airlines flights and stranded passengers Friday, airport officials said.rnThere was no immediate word from the airline about the delays, but the Flight Attendants Union said 600 crew members were taking part in the trade union action.rn rn The strikers are demanding talks over […]
Second Thoughts
India will pursue a comprehensive economic partnership agreement with Sri Lankas new government amid plans for an aid package to rebuild the islands embattled regions, a top envoy said on Thursday.The Indian High Commissioner (ambassador) here, Nirupam Sen, said talks initiated with the previous government on the economic agreement would continue with the new administration […]
Enlisting Babies
Sri Lankas Tamil Tiger rebels have stepped up recruiting hundreds of child soldiers amid renewed moves by peace broker Norway to revive stalled talks, officials and residents said Thursday.rn Tamil Tigers have begun enlisting young fighters in the northern Wanni district in the past two weeks after demobilising nearly 1,000 child soldiers who were loyal […]
Whats In A Name?
Work is expected to start this year, and SLT hopes to include its brand valuation into its 2004/5 financial statements.rn rnThe consultant will first have to take stock of the present brand, make changes and discuss with stakeholders as to where they would like to position their brand.rn rnldblquote It will be a year long […]
Losing Weight
Carsons is exploring alternate uses for its loss-making Pegasus Reef Hotel, from an urban housing project to up-scale entertainment. The hotel has been struggling under a string of accumulated losses of about Rs.100 mn, laying off staff and scaling back on operations last year.rn rnIt curtailed operations to about 50 rooms in 2003, with occupancy […]
Second Wicket
Lanka Rating, Sri Lankas second credit rating agency, opens shop later this month, after securing regulatory approval.Local capital markets are in a nascent stage, but Lanka Ratings is confident of securing work, as credit ratings gains acceptance.rn rnThe Ceylinco Group, has a controlling 51 percent stake in the firm through Key Ratings, while Rating Agency […]
Bala Returns
The London-based top Tamil Tiger negotiator returned to Sri Lanka Friday ahead of resuming Norwegian-backed peace talks with the new Colombo government, officials said.rnAnton Balasingham, 65, arrived at the only international airport here and was immediately flown in a military helicopter to the rebel-held town of Kilinochchi, 330 kilometres (206 miles) north of here, officials […]