Category:
Expelled Sri Lanka ex-warlord returns from Britain
July 3, 2008 (AFP) – A former Sri Lankan Tamil guerrilla leader expelled from Britain returned Thursday after serving a brief jail term on immigration charges, officials said. Vinayagamoorthy Muralitharan, also known as Colonel Karuna and who was jailed in London in January, was escorted back to Sri Lanka, airport officials said. Karuna, who led […]
Sri Lankan share prices sink again
July 03, 2008 (LBO) – Sri Lankan shares sank again Thursday with large trades in John Keells Holdings boosting turnover, brokers said.The All Share Price Index fell 0.55 percent (13.29 points) to end at 2,420.06 while the more liquid Milanka was down 1.11 percent (32.59 points) to 2,913.77. Turnover was 530 million rupees. “Foreigners were […]
Bond Deal
July 3, 2008 (LBO) – Sri Lanka’s Peoples’ Leasing Company (PLC) is selling a billion rupee 5-year bond to extend the maturity of its short term borrowings, Fitch Ratings which gave the security a ‘BBB+(lka)’ rating said. The leasing company, which is rated ‘A-(lka)’ with a ‘stable’ outlook, is planning to list the subordinated, unsecured […]
Bank Rating
July 3, 2008 (LBO) – Fitch Ratings Lanka has confirmed Sampath Bank’s local long-term rating of ‘AA-(lka)’ with a stable outlook. It also confirmed the ratings on the bank’s outstanding unsecured debentures of 3.3 billion rupees at ‘A+(lka)’, and the bank’s Individual and Support ratings at ‘D/E’ and ‘5’. “The ratings reflect Sampath Bank’s strong […]
Sri Lanka Maskeliya estate profits, management fees, up
July 3, 2008 (LBO) – Sri Lanka’s Maskeliya Plantations has reported a five fold increase in profits amid better export prices for tea, but steep management fees, interest and wages costs have kept profits in check.The firm charged 86 million rupees in interest to the profit and loss account, and said 183 million rupees on […]
Mediterranean tuna ranches feel pinch as EU halts fishing
MARSAXLOKK, July 3, 2008 (AFP) – Mediterranean tuna ranches are feeling the pinch after the European Union moved to prevent the depletion of fish stocks.“This year, we will probably process only 500 tonnes,” said Saviour Caruana, a co-owner of Fish and Fish, a bluefin tuna ranch with a capacity of 1,200 tonnes. “I had given […]
OPEC blames money printing, reserve currency debauchment for oil bubble
MADRID, July 3, 2008 (AFP) – Tensions have flared between the oil powers and consumer nations at the World Petroleum Congress this week, with no sign of common ground on how to bring down record crude prices. After failing to find agreement at a hastily arranged summit in Saudi Arabia on June 22, this week’s […]
Sri Lanka among top 20 in failed states ranking
July 3, 2008 (LBO) – In mid 2006, I wrote a column entitled “The Sri Lankan state: Failed, failing or maligned?” It was about a comparative ranking on countries on their likelihood of becoming failed states. At the end of a critical assessment of their methodology, I concluded that “Notwithstanding these methodological problems, the index does […]
Sri Lanka human rights abuses, attacks on media draw US concern
July 3, 2008 (AFP) – The United States said Thursday it had “strong concerns” about Sri Lanka’s deteriorating human rights record and escalating attacks on the local media.Deputy assistant secretary of state for South and Central Asian affairs Evan Feigenbaum expressed US concerns to Sri Lankan authorities during his four-day visit which ends Thursday. “We […]
World Bank appoints new South Asia chief
July 3, 2008 (LBO) – The World Bank has appointed Isabel Guerrero, country director for India as vice president for the South Asia region, replacing Praful Patel who retired on July 02, the multilateral lender said. “It is a most special privilege to be invited to take on this role in one of the most […]
Sri Lanka private sector calls for prudent reforms
July 03, 2008 (LBO) – Sri Lanka’s private sector has called on the government to implement politically difficult reforms and austerity measures to put the economy on a better footing. Anura Ekanayake, deputy vice chairman of the Ceylon Chamber of Commerce, said the government should do reforms to correct the wrong policies that hinder growth […]
Sri Lanka firm to lobby G8 on water
July 3, 2008 (LBO) – Sri Lanka’s Hayleys group has joined top global firms to lobby the eight leading industrial nations to make water availability a priority at an upcoming meeting in Japan next week, the company said. Hayleys is one of 19 companies that have signed the CEO Water Mandate, an initiative of the […]