Category:
Bows Out
Oct 02, 2008 (LBO) – Sri Lanka’s former finance ministry secretary P B Jayasundera, who resigned as chairman from national carrier Sri Lankan Airlines, says he will be taking a break before taking up any new assignments. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Jayasundera told […]
” opportunities
Oct 02, 2008 (LBO) – Growing consumer demand in Western markets for environmentally-friendly products provide new opportunities for Sri Lankan businesses, a European Union official said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The opportunities arise through increasing EU efforts to cut greenhouse gas emissions that […]
‘s north to get UN food
Oct 02, 2008 (LBO) – A convoy of 51 food trucks accompanied by United Nations officials Thursday left Sri Lanka’s northern Vavuniya town to areas further north that are held by the Tamil Tigers, a minister said. The trucks are carrying essential foods items such as rice, lentils and sugar. Relief minister Rishad Badurdeen said […]
Sri Lankan Airlines says turnaround strategy working
Oct 02, 2008 (LBO) – Sri Lankan Airlines has significantly reduced losses in July and August and is confident that the red ink can be contained for the rest of the financial year, its chief executive Manoj Gunawardena says. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 […]
Belgian customs seize record haul of fake pills, from India
BRUSSELS, October 2, 2008 (AFP) – Customs authorities at Brussels airport have seized over two million counterfeit medical pills from India which were bound for Africa, the biggest such seizure ever in Europe, officials said Thursday. Blister packs of the fake medications — copies of Tramal, a strong analgesic made by German pharmaceutical company Grunenthal, […]
‘s arms-trafficking trade
KIEV, October 2, 2008 (AFP) – The pirate hijacking of a Ukrainian cargo ship loaded with tanks off Somalia has refocused attention on arms-trafficking by the former Soviet republic, one of the world’s 10 biggest arms exporters.Experts say Ukraine has greatly improved arms-export controls after a string of scandals but remains a potential source of […]
Oil prices at 99.76 in Asian trade
SINGAPORE, October 2, 2008 (AFP) – World oil prices were up more than one dollar in Asian trade on Thursday shortly after the US Senate approved a revised government proposal to bail out the US financial sector. New York’s main contract, light sweet crude for November delivery, was 1.23 dollars higher at 99.76 dollars a […]
US Senate approves economic bailout plan
WASHINGTON, October 2, 2008 (AFP) – The US Senate on Wednesday approved a 700-billion-dollar Wall Street bailout package by a vote of 74-25 amid a widening global crisis sparked by the collapse of the US housing market.Earlier in the day, Democratic House Majority leader Steny Hoyer sounded a note of caution, appearing to indicate the […]
Hedge Profits
Oct 01, 2008 (LBO) – Sri Lanka’s Citibank unit has reported sharply higher profits from hedging deals, Fitch Ratings said, confirming its ‘AAA(lka)’ long term credit rating with a ‘Stable’ outlook.In the first half of 2008 85 percent of loans were to large corporates and 14.5 percent to the government of Sri Lanka and state […]
Fair Value
BRUSSELS, September 30, 2008 (AFP) – The European Union is considering a shake-up in accounting rules as part of measures aimed being drafted in response to the global financial crisis, an EU official said Tuesday.The idea is one among a series that are being looked into ahead of a high-level European economic meeting expected to […]
Reaching Out
Oct 01, 2008 (LBO) – The International Finance Corporation (IFC) is organizing a banking road show in Ratnapura, in southern Sri Lanka, to help small and medium enterprises get access to finance.“There will also be sessions on handling complex loan applications, preparing business plans and project proposals, and establishing new banking products for small and […]
Digital Identity
Oct 01, 2008 (LBO) – E-Wis, a Sri Lankan information technology firm which has been picked to automate a pension fund of a state-managed private sector workers’ fund, says the new system will trim frauds and delays in processing member information. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send […]