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Sri Lanka economy, tourism targeted by Tamil Tigers: official
July 22, 2008 (LBO) – Sri Lanka’s hoteliers say the industry is heading for the worst crisis in its history amid an ongoing internal conflict, while a senior government official said the economy and tourism was targeted by Tamil Tiger guerillas.Foreign visitors to the island fell 9.3 percent in May, hard hit by travel warnings, […]
Sri Lanka Janashakthi Insurance starts trading
July 21, 2008 (LBO) – Sri Lanka’s Janashakthi Insurance began trading at the Colombo bourse Monday at 13.50 rupees, above its issue price of 12.00, dealers said. Property rich Association Electrical was up 50 rupees to 1,200, The Finance was down 1.00 rupee at 49.00 rupees, John Keells Holdings up 25 cents at 104.75 in […]
Sri Lanka stocks close lower, Janashakthi Insurance fall below issue price
July 21, 2008 (LBO) – Sri Lankan shares ended lower Monday dragged down by falls in heavyweight stocks while Janashakthi Insurance Company ended below its issue price on its debut after briefly trading higher.The All Share Price Index fell 1.32 percent (31.81 points) to 2,380.57 while the Milanka fell 1.33 percent (38.23 points) to 2,843.68. […]
India govt hunts for support ahead of no confidence vote
NEW DELHI, July 21, 2008 (AFP) – The Indian government was scouring for support Monday, trying to shore up its position a day before a no-confidence vote in parliament triggered by a controversial nuclear deal with Washington. The government will collapse and early elections will be called if the coalition of Prime Minister Manmohan Singh […]
Economy top concern for voters as White House race heats up
WASHINGTON, July 21, 2008 (AFP) – The sputtering economy has asserted itself as the main concern for US voters less than four months ahead of presidential elections, and with an avalanche of alarming new data it appears unlikely that will change. While crude oil prices fell more than 16 dollars per barrel in the past […]
Sri Lanka minister rejects cricket manager
July 21, 2008 (LBO) – Sri Lanka’s sports minister has rejected a nomination to appoint former test cricketer Hashan Tillekeratne as manager of the national cricket team for an upcoming Indian tour. Sports minister Gamini Lokuge told our sister website Vimasuma.com Monday that he received the nominations of the Sri Lanka contingent for the Indian […]
Sri Lanka gets World Bank help to improve economic statistics, oversight
July 21, 2008 (LBO) – Sri Lanka is getting a 22.6 million US dollar credit from the World Bank’s concessionary window to improve the government statistics and audit offices, the multilateral lender said. “This project will help the government to further strengthen statistical capacity and audit functions which are at the core of public administration […]
India to raise fishermen issue with Sri Lanka at regional summit: report
July 21, 2008 (LBO) – India’s prime minister has promised to raise the issue of alleged attacks by the Sri Lanka navy on Indian fishermen at a South Asian regional summit next month, a media report said.India’s Economic Times newspaper said the Tamil Nadu Congress president K V Thangkabalu had led a delegration to meet […]
Premium Banking
July 20, 2008 (LBO) – Sri Lanka’s Nations Trust Bank (NTB) has launched priority banking services for premium customers with higher interest rates and benefits, officials said. Dedicated agents will be present in NTB branches to serve Inner Circle members, Fernando says. The priority service is available all year round in NTB branches of Colombo, […]
Restructuring
July 20, 2008 (LBO) – Sri Lanka’s state radio will shed up to 400 excess employees by giving them a million rupee severance package senior officials said, while the broadcaster was reeling under mounting losses.At the moment it has 1,068 employees and most of the excess is in the transport and security divisions, officials said. […]
Call Synergy
July 20, 2008 (LBO) – Sri Lanka Telecom’s mobile subsidiary wants its licensing conditions relaxed so it could combine phone tariffs with its fixed line parent, its chief executive said. This will enable the firm to achieve higher scale advantages to compete in a market where new technology and increased competition are pushing down call […]
Sri Lanka troops capture town from Tamil Tigers
July 20, 2008 (LBO) – Sri Lanka troops have entered a town held by Tamil Tiger guerillas for 21 years, within days of over-running a nearby coastal base, the military said. Sri Lanka’s defence ministry said the area, in the Mannar district, was a stronghold of the Tamil Tigers, and troops had advanced about two […]