Category:
Divine Intervention
June 6, 2007 (LBO) – Sri Lanka’s state electricity utility warned that power cuts would be imposed if monsoon rains do not come in the next two weeks to boost its hydro storage capacity. It engineers have warned the media last month that another unsuitable 300 MegaWatt thermal plant is being forced on the utility […]
Sri Lanka finance ministry, auditor-general in row over revenue losses
June 06, 2007 (LBO) – Sri Lanka’s Finance Ministry has disputed a report by the auditor-general that weak collections led to a revenue loss of 360 billion rupees. The loss, it said in its annual report for 2006, was not more than 6.2 billion rupees of which half related to the VAT refund fraud which […]
Sri Lankan commercial bank widens reach of hedging products
June 06, 2007 (LBO) – The Commercial Bank of Ceylon says it is broadened the availability of forex hedging products, allowing even individuals to use them in addition to large corporates and small and medium businesses. These products will also help customers to diversify their cash investment portfolios, Commercial Bank’s Head of Global Treasury, Dula […]
Upgraded
June 5, 2007 (LBO) – Fitch Ratings has upgraded PABC Bank, a Sri Lankan commercial bank to an investment grade BBB- (lka) with the stable outlook, the agency said Tuesday. “The upgrade of the rating recognises improvements in PABC’s profitability and relative improvements in its capitalisation ratios and asset quality since the bank was first […]
Trend Setter
June 05, 2007 (LBO) – Richard Pieris, a Sri Lanka listed firm, has declared a cash dividend and a stock distribution under provisions of a new company law that came into effect last month.A bonus also increased the shares in issue without affecting the assets of the company, which has the same effect as a […]
Bangladesh recall Razzak and Rahim for Sri Lanka Tests
DHAKA, June 4, 2007 (AFP) – Bangladesh’s cricket selectors on Monday recalled left-arm spinner Abdur Razzak and teenage wicket-keeper Mushfiqur Rahim for an upcoming three-Test series in Sri Lanka.Razzak, who played his only Test against Australia in 2006, returned to the squad after his impressive performances in one-day cricket, chief selector Faruq Ahmed said. “Razzak […]
‘s Arjuna in?
BANGALORE, India, June 4, 2007 (AFP) – India’s cricket chiefs failed to name a new national coach on Monday even as South African Graham Ford replaced Dav Whatmore as the frontrunner for the post.“We have decided to invite Ford and another coach of foreign origin for discussions,” N.Srinivasan, treasurer of the Board of Control for […]
Japan in Sri Lanka peace bid amid bloodshed
June 5, 2007 (AFP) – A top Japanese envoy arrived in war-torn Sri Lanka Tuesday to try and restore a tattered peace process after some of the bloodiest battles between government forces and Tamil Tiger rebels this year.The rebels say they are fighting for an independent homeland for the tropical island’s minority Tamils.Overall, the 35-year-old […]
Sri Lanka blast kills senior police officer
June 5, 2007 (AFP) – Tamil Tiger rebels set off a roadside bomb in eastern Sri Lanka Tuesday, killing a senior police official in an attack that coincided with a visit to the area by the US ambassador, the military said.A police chief inspector was killed and his sub-inspector wounded when they were ambushed at […]
UN chief blasts killings of Sri Lankan Red Cross workers
UNITED NATIONS, June 4, 2007 (AFP) – UN chief Ban Ki-moon condemns the killings of two Red Cross employees in Sri Lanka and demands a thorough police investigation, his office said Monday. “The Secretary General condemns the brutal killings of two workers of the Sri Lankan Red Cross and …demands a thorough investigation by the […]
Bunker Oil
June 05, 2007 (LBO) – Lanka IOC, a unit of the Indian Oil Corporation, has started a marine bunkering operation by supplying diesel to ships off the east coast of the island, an official said.“We made a humble beginning using our facilities in Trincomalee by offering bunkering services selling diesel oil to two vessels a […]
” innings
June 4, 2007 (AFP) – Advance bookings for England’s winter cricket tour of Sri Lanka has been rising steadily even as fighting between troops and Tamil Tiger rebels escalates, officials said on Monday.A tour organising official at Sri Lanka Cricket (SLC) said at least 4,000 bookings by British cricket fans have been almost finalised and […]