Category:
Canada to overtake US currency as Fed switch on printing press
OTTAWA, Sept 18, 2007 (AFP) – The Canadian dollar reached a 30-year high Tuesday, nearing parity with the US greenback after the US Federal Reserve cut its key interest rate. The loonie closed at 0.9864 US dollars, after touching 0.9874 US in the day’s trading, its highest level since January 1977, according to the Bank […]
Australian pace wrecks Sri Lankan batting
CAPE TOWN, Sept 20, 2007 (AFP) – Australia’s pace bowlers swept through Sri Lanka’s top order batting in their crucial World Twenty20 Super Eights match at Newlands Thursday.Sri Lanka were bowled out for 101 in 19.3 overs after being sent in. The match is effectively a knock-out encounter. The team that wins will go through […]
Sri Lanka auto firm gifts flashy wheels to sexy Malinga
Sept 20, 2007 (LBO) – Sri Lanka’s paceman Lasith Malinga, dubbed the sexist player during the World Cup, is to get a customised motorbike from Japanese manufacturer, Yamaha, an official in Colombo said Wednesday. National cricketers who are generally well-heeled and most already own luxury sports untility vehicles (SUV) and fast cars. Yamaha’s local agents, […]
South Africa thrash New Zealand by six wickets
DURBAN, South Africa, Sept 19, 2007 (AFP) – Justin Kemp blasted 89 not out off 56 balls after Morne Morkel claimed 4-17 as South Africa thrashed New Zealand by six wickets in the Twenty20 world championships here on Wednesday. Graeme Smith’s home team restricted the Kiwis to 153-8 after giving them first strike at the […]
Sri Lanka minister block queries over pension fund losses; new questions emerge
Sept 20, 2007 (LBO) – A government minister blocked reporters from questioning officials about real losses made by a pension fund of private sector workers, as disturbing new information about its management in state hands continued to emerge. The Employees’ Provident Fund (EPF), Sri Lanka’s largest pension fund, is estimated to have made a 37 […]
Sri Lanka central bank says narrow trade gap is good for rupee
Sept 19, 2007 (LBO) – Sri Lanka’s central bank says a recent fall of the rupee is not in line with a narrowing of the trade gap, as the rupee dipped to a new low Wednesday but closed firmer. The bank said exports have grown 15.8 percent and the trade gap had narrowed to 1,806 […]
Travel Services
Sept 19, 2007 (LBO) – Nations Trust Bank said Wednesday it remains the sole issuer of American Express credit cards and other travel services despite the sale of the latter’s international banking subsidiary to Standard Chartered PLC. American Express Company has announced that it has sold its subsidiary, American Express Bank Ltd. (AEB), to Standard […]
Global Cover
Sept 19, 2007 (LBO) – Sri Lankans traveling abroad can apply for international health insurance introduced by Aviva Insurance that will cover the cost of medical care abroad, officials said Wednesday. The insurance plans offered by Aviva’s local partner Eagle Insurance go up to two million dollars in annual coverage. They cover health costs whether […]
Sri Lanka tea firms brace for new wage demand
Sept 19 (LBO) – Sri Lanka’s plantations companies face another crippling wage hike less than a year after giving one as politically powerful labour unions pressurize the government which needs their support to pass the forthcoming budget in parliament. Stock market analysts said another wage increase would increase pressure on listed regional plantations companies (RPCs), […]
Cartel Curbs
Sept 18, 2007 (LBO) – India’s Competition Commission is moving against an alliance of shipping lines which control most of the cargo shipped from south Asia, including Sri Lanka, to Europe but which shippers have accused of acting like a cartel. The India-Pakistan-Bangladesh-Ceylon Conference (IPBCC), one of the oldest shipping conferences in the world, controls […]
Telco Suit
Sept 19, 2007 (LBO) – Sri Lankan fixed wireless operator Suntel, a unit of Sweden’s Telia, has said net profit for the first half ending June 2007 was up seven percent to 311 million rupees. Revenue rose to 3.6 billion rupees from 3.3 billion rupees in the first half of 2006 In a statement accompanying […]
Charges against Goldquest directors dropped
Sept 19, 2007 (LBO) – Prosecutors in the Philippines have dropped charges against Goldquest directors involved in an alleged investment scam, media reports from the country said. It later enacted anti-pyramiding legislation that outlawed multi-level marketing recruitment schemes. Bayani Vargas, Presiding Judge of the Quezon City Regional Trial Court, has dropped a criminal charge against […]