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Sri Lanka Wayamba defeated by South Africa Warriors
PORT ELIZABETH, September 11, 2010 (AFP) – A dream start for South African franchises in the Champions League Twenty20 tournament continued on Saturday as Eastern Cape Warriors defeated Wayamba Elevens by seven wickets. South African President Jacob Zuma and Spanish singing megastar Enrique Iglesias were among those who witnessed star-less Highveld Lions shock the Sachin […]
Campaigners seek more reactive UN rights council
GENEVA, September 12, 2010 (AFP) – Five years after the Human Rights Council was set up, the United States, once among its biggest critics, has now confirmed its full engagement in the UN body. She acknowledged that there are still many critics who “are still arguing that the US should not have joined in the […]
Sports Backing
Sept 10, 2010 (LBO) – Sri Lanka’s schools sports need private sector support, especially for an upcoming meet that will see children from former war-torn areas taking part in a big way, the education minister has said. The education ministry has also started a s scholarship program for talented students who are financially constrained. “There […]
‘s Mumbai in opener
JOHANNESBURG, September 10, 2010 (AFP) – The Champions League Twenty20 tournament got off to a thrilling and surprise start Friday with local outfit Highveld Lions of South Africa defeating star-studded Mumbai Indians by nine runs. Opener Vandiar led the way at one of the most famous world cricket venues with his runs coming off 48 […]
‘s constitution changes draw US concern
WASHINGTON, September 11, 2010 (AFP) – The United States on Saturday expressed concern over changes to the Sri Lankan constitution, which strengthened the presidency, saying they were undermining the principles of democracy. “The United States is concerned that this constitutional amendment weakens checks and balances and thus undermines the principles of constitutional democracy,” State Department […]
IMF warns of debt menace as recovery slows
WASHINGTON, September 10, 2010 (AFP) – High levels of national debt and a still shaky financial sector threaten to derail the global economic recovery, the IMF warned on Friday. The Washington-based body warned of a funding bottleneck as European nations try to extend their borrowing by rolling over bonds. “Sovereign debt maturing in vulnerable euro […]
Sri Lanka opens state agency debt to foreign buyers
Sept 10, 2010 (LBO) – Sri Lanka’s Urban Development Authority (UDA), a state agency, has launched a 5-year bond to raise 10 billion rupees and 30 percent of the issue is open to foreign investors, officials said. Gotabhaya Rajapaksa, secretary to Sri Lanka’s defence ministry, under which the agency operates, said the money would be […]
Implied Support
Sept 10, 2010 (LBO) – Fitch Ratings Lanka has confirmed Merchant Credit of Sri Lanka Ltd’s (MCSL) National Long-term rating at ‘BBB(lka)’ with a stable outlook, a statement said. The affirmation reflects the implied support from MCSL’s main shareholder and Sri Lanka’s largest bank – state-owned Bank of Ceylon, rated ‘AA(lka)’/Stable, it said. “Fitch believes […]
Sri Lanka tea trade told to liberalise, tap stock market
Sept 10, 2010 (LBO) – Sri Lanka should consider liberalising tea imports to encourage blending and value addition while plantations companies could use the current stock market bull run to raise funds, a report said. “Given the current buoyancy of the equity market, however, it is opportune for such companies to start tapping the stock […]
Taxpayer Pressure
Sept 10, 2010 (LBO) – The United States aid agency has suspended a programme to train youth in Sri Lanka’s former northern war zone for jobs in the outsourcing industry, an American lawmaker who opposed the project said. Congressman Tim Bishop said he hailed the suspension of the 10 million US dollar training project by […]
‘ worth of gold to Bangladesh
WASHINGTON, September 9, 2010 (AFP) – The International Monetary Fund on Thursday announced it would sell 10 metric tons of gold to Bangladesh, worth around 403 million dollars. “This transaction is part of the total sales of 403.3 metric tons approved by the executive board,” the IMF said in a statement. That decision was taken […]
Sri Lanka stocks top 6,000-pts
Sept 09, 2010 (LBO) – Sri Lanka’s benchmark index topped 6,000 points Thursday, with high value stocks like John Keells Holdings (JKH) and Distilleries Company shares also helping push turnover up brokers said. The All Share Price Index closed at 6,026.99, up 1.08 percent (64.37 points) while the Milanka Index of more liquid stocks rose […]