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Sri Lanka debt burden cause for worry: RAM Ratings
June 26, 2008 (LBO) – Sri Lanka’s debt burden is a cause for concern with resort to foreign borrowings only providing temporary relief in bridging the fiscal deficit, RAM Ratings (Lanka) said. The rating agency said the growing loan interest payments are also of some concern for overall government finances especially at the prevailing higher […]
Sri Lanka tsunami survivors revive livelihoods with ILO support
June 26, 2008 (LBO) – The International Labour Organisation (ILO) and Belgian government have helped tsunami survivors in eastern Sri Lanka rebuild their lives through self-employment schemes, a senior official said. The ILO’s CB-TREE (community-based training for economic empowerment) methodology has helped restore livelihoods and revival of the local economy of the Amparai district, said […]
Sri Lanka says economic sanctions no help in fighting terror
June 26, 2008 (LBO) – Economic pressure on Sri Lanka by the international community at a time when the Tamil Tigers are targeting the economy is not helping in the struggle against terror, a senior diplomat has said. Foreign Affairs Ministry secretary Palitha Kohona said the Tamil Tigers, consistent with the strategy of other terrorist […]
‘s Dhammika Perera buys more Hayleys
June 25, 2008 (LBO) – Sri Lanka stocks closed flat Wednesday with Dhammika Perera’s Vallibel group buying more Hayleys shares and further increasing their stake in the conglomerate to 14.74 percent, brokers said. The overall market was barely changed with the All Share Price Index down 0.06 percent (1.41 points) to end at 2,479.92 while […]
Sri Lanka US embassy closed after “suspicious powder” found
June 25, 2008 (LBO) – The United States embassy in the Sri Lankan capital Colombo was closed Wednesday after a “suspicious powder” was found, the embassy said in a statement. All visa appointments and routine American citizen services will be postponed until the incident is resolved, it said. It said the suspicious substance will be […]
Sri Lanka says land captured from Tamil Tigers
June 25, 2008 (AFP) – Sri Lanka’s defence ministry said Wednesday that its forces have made some territorial progress in fighting with the Tamil Tigers that it said killed at least 10 guerrillas.Security forces took a three square kilometre (1.15 square miles) area in the district of Mannar on Tuesday, the ministry said, adding that […]
Sri Lankan Airlines adds flights to Middle East
June 25, 2008 (LBO) – Sri Lankan Airlines, the island’s national carrier, said it has increased flights to the Middle East to support government moves to attract more tourists from the region. The state-owned airline said in a statement that weekly flights to the city of Doha had been increased to six from four previously, […]
Sri Lanka stages international gem show to entice buyers
June 25, 2008 (LBO) – Sri Lanka’s international gem and jewellery trade show ‘Facets Sri Lanka’, a key annual event that helps increase the island’s gem exports, is to be held in September this year, its organizers said. A new feature at this year’s show will be competitions to recognize the best gem cutter, best […]
Consumers set to pay for new cargo security laws: US customs
BRUSSELS, June 25, 2008 (AFP) – US consumers could be hit hard by new security laws demanding that all cargo containers bound for the United States be scanned for radiation or weapons, a senior US customs official said.The measures, which Congress has demanded must enter force in 2012, will oblige countries to scan every one […]
EU panel backs plans against hidden charges in air fares
BRUSSELS, June 25, 2008 (AFP) – A panel of EU lawmakers approved European plans requiring that air fares clearly include all extra charges so passengers know exactly what they are paying.In the crackdown on hidden expenses, all air fares would have to include all taxes, fees and charges on top of the basic ticket price […]
World economy set to grow 4.0 pct in 2008: French bank governor
PARIS, June 25, 2008 (AFP) – The world economy is likely to grow by about 4.0 percent this year and the United States should avoid a recession, the governor of the Bank of France Christian Noyer said on Wednesday. Noyer, who is also a member of the monetary policy council of the European Central Bank, […]
Nissan to raise car prices as material costs soar: CEO
YOKOHAMA, June 25, 2008 (AFP) – Soaring raw material costs pose a major challenge to automakers, which have no choice but to raise vehicle prices, Nissan Motor Co.chief executive Carlos Ghosn said Wednesday. The surging prices of steel and other materials are the “single most important challenge facing the industry and facing Nissan,” Ghosn said […]