Category:
Climate talks inch ahead on aid despite discord
PANAMA CITY, October 8, 2011 (AFP) – Climate negotiators said Friday they made progress on laying out ways to help poor countries but deep differences remained on core issues ahead of a make-or-break talks in South Africa. With scientists warning that the planet is far behind on meeting pledges to control climate change, officials from […]
Presidential aide, bodyguard killed during Sri Lanka vote
October 8, 2011 (AFP) – A presidential aide and his bodyguard were shot dead in a gunbattle involving opposing factions of the Sri Lankan ruling party during Saturday’s local council elections in the capital, police said. Former lawmaker and advisor to the president, Bharatha Lakshman Premachandra, was pronounced dead shortly after being taken to hospital […]
‘s mid-term test
October 8, 2011 (AFP) – Voters in Sri Lanka’s capital went to the polls Saturday to elect a local municipal council, in a contest widely seen as a mid-term test for President Mahinda Rajapakse. Rajapaksa’s ruling coalition, the United People’s Freedom Alliance, is fielding candidates for the prestigious Colombo municipality as well as 22 others, […]
‘s role
LONDON, October 7, 2011 (AFP) – Britain’s defence minister Liam Fox ordered an inquiry Friday into the role of a friend and self-styled adviser after claims that he influences government business despite having no official role. Fox said the “wild allegations” would be probed after confirming that he met Adam Werritty on an official visit […]
Sri Lanka stocks end up 0.3-pct
Oct 07, 2011 (LBO) – Sri Lankan stocks ended higher after three days of falls with some buyers returning but continued activity in stocks that had drawn speculators, brokers said. John Keells Holdings shares were also heavily traded, accounting for the second highest turnover, closing flat at 200 rupees. There were two crossings or off-market […]
Enterprise Finance
Oct 07, 2011 (LBO) – Sri Lanka’s NDB Bank has got a 21 million US dollar loan from German development finance institution DEG mainly for lending to small and medium enterprises. The five-year long term loan from Deutsche Investitions – und Entwicklungsgesellschaft of Germany to will enable NDB Bank to enhance its lending especially to […]
Lending Support
Oct 07, 2011 (LBO) – Sri Lanka’s DFCC Bank has got a 30 million US dollar loan from a German development finance institution for lending to small businesses especially in the former north-east war zone. The loan from DEG (Deutsche Investitions – und Entwicklungsgesellschaft mbH) is repayable over eight years, a statement said. It will […]
Debt Rating
Oct 07, 2011 (LBO) – Fitch Ratings Lanka has assigned Hatton National Bank’s (HNB) proposed subordinated debentures of up to two billion rupees a National Long-Term rating of ‘A+(lka)’. “The issue is rated one notch below HNB’s National Long-Term rating reflecting its debt-like features,” a statement said. The full Fitch rating report follows: Fitch Ratings […]
Top Rating
Oct 07, 2011 (LBO) – Sri Lankan mobile phone operator Dialog Axiata has retained its ‘AAA(lka)’ Fitch rating with a stable outlook, remaining the top player albeit with reduced market share while lowering revenue exposed to the overcrowded mobile industry. At the same time, Fitch said in a statement it has confirmed Dialog’s cumulative redeemable […]
Indian Ocean tsunami alert system to be tested on Oct 12
PARIS, October 6, 2011 (AFP) – Nearly two dozen countries next Wednesday will take part in a full-scale test of the Indian Ocean’s tsunami alert system, using the 2004 Sumatra quake as the basis for the exercise, UNESCO said on Thursday. Exercise IOWAVE 11 will re-enact the seismic events of December 26, 2004, simulating a […]
US seeks WTO action on China, India subsidies
WASHINGTON, October 6, 2011 (AFP) – The United States said Thursday it has enlisted the World Trade Organization to obtain detailed information on subsidy programs in China and India. US Trade Representative Ron Kirk said that Washington had submitted information to the WTO identifying nearly 200 subsidy programs that China has failed to notify as […]
Sri Lanka budget on November 21
Oct 07, 2011 (LBO) – Sri Lanka’s 2012 budget will be presented on November 21 with estimates being prepared with a deficit of 6.2 percent of gross domestic product and inflation at 6-7 percent. In the budgeting process, “priority has been given for the completion of ongoing development activities before allocating resources for new projects,” […]