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Consumer goods giant Singer goes for LKR300 mn debenture
December 18, 2006 (LBO) – Consumer goods giant Singer (Sri Lanka) is issuing a 300 million rupee debenture to support its growing hire purchase business. The unsecured four-year issue will not be listed but will carry a A+(lka) rating from Fitch Ratings Lanka Ltd, Singer’s Company Secretary, Asoka Pieris said Monday. Earlier in the year, […]
Setting Sail
Dec 18, 2006 (LBO) – Sri Lanka’s President Mahinda Rajapakse Monday kicked off a million dollar project to expand the Colombo port, which will triple existing capacity and enable it to service larger vessels in the future. The 1.2 billion dollar project, the largest port development undertaken so far, will add four terminals, each with […]
Striking estate workers to go back to work, wage talks to resume
December 18 (LBO) – Striking estate workers have been asked to get back to work, with the Ceylon Workers Congress agreeing to resume wage talks with plantation companies, officials said Monday.“The Ceylon Workers Congress (CWC) feels that this situation has gone too far and we cannot wait for others to deliver,” R Yogarajan, Vice President of […]
Hollow Warning
BANGKOK, Dec 18, 2006 (AFP) – Nearly two years after the tsunami, a regional warning system is beset by squabbling and inaction, officials and experts say, as individual countries instead scramble to implement their own schemes. Thailand this month released a US-funded deep-sea warning buoy into the Indian Ocean, while Indonesia plans to install about […]
Lost Aid
COLOMBO, Dec 18, 2006 (AFP) – Corruption and ethnic violence is blocking a flood of foreign aid for Sri Lanka’s tsunami survivors two years after the massive disaster, according to official records and whistle-blowers. President Mahinda Rajapakse admitted a year ago the country had failed to do enough to help the victims of the towering […]
Sri Lanka spins to victory over New Zealand
WELLINGTON, Dec 18 (AFP) – A superb spell of spin bowling by Muttiah Muralitharan secured a comprehensive 217-run win for Sri Lanka over New Zealand in the second cricket Test here Monday to level the series 1-1.Muralitharan finished with six for 87 to claim an impressive ninth five-wicket haul for the year, as Sri Lanka […]
Thousands flee Tiger territory amid fears of fighting
Dec 18, 2006 (AFP) – More than 2,200 more civilians have fled rebel-held territory in eastern Sri Lanka, the defence ministry said Monday amid fears of renewed fighting in the area.The LTTE is fighting for independence for the island’s minority 2.5 million Tamil community. The conflict has claimed more than 60,000 lives since 1972.The civilians […]
Oil Buddies
December 18, 2006 (LBO) – Sri Lanka is scouting for international experts to help the island hedge part of its hefty oil bill next year, Petroleum Minister A H M Fowzie said Monday. A net oil importer, Sri Lanka’s retail fuel market is dominated by state oil giant Ceylon Petroleum Corporation (CPC), while Indian fuel […]
Corruption swallows aid as Sri Lanka marks tsunami anniversary
Dec 18, 2006 (AFP) – Corruption and ethnic violence is blocking a flood of foreign aid for Sri Lanka’s tsunami survivors two years after the massive disaster, according to official records and whistle-blowers. This year, there are no ceremonies to remember the tsunami dead and the destitute, but instead the government has named December 26 […]
Equal Chances
Dec 15, 2006 (LBO) – The Employers Federation of Sri Lanka are calling on more firms to employ disabled people, not just for equal opportunity, but because it also makes business sense. The Employers Federation of Ceylon (EFC) together with the Motivation Charitable Trust of UK run an annual job fair for disabled people and […]
Who said what at the 2006 Asian Games
DOHA, Dec 16, 2006 (AFP) – Who said what at the 2006 Asian Games which came to a close on Friday: “Nobody thought I would be here. My mother had made an oath to the bodhi tree that I would take part in the Games.” – Sri Lanka sprinter Susanthika Jayasinghe after winning 200m bronze […]
Bush frees refugee funds for Somalia, Sri Lanka
WASHINGTON, Dec 15, 2006 (AFP) – US President George W.Bush has freed 5.215 million dollars in aid to help cope with refugee flows resulting from conflicts in Somalia and Sri Lanka, the White House announced Friday. Bush directed US Secretary of State Condoleezza Rice in a memorandum dated Thursday to make the money available “for […]