Category:
Unsavory Label
Nov 23, 2006 (LBO) – Foreign investors in Singapore who attended a road show by the Colombo Stock Exchange have raised questions about Sri Lanka’s growing infamy as a money laundering hub, and the inability of authorities to counter such activities, participants said. One foreign investor asked the head table what action the authorities planned […]
Free trade deal as Chinese President visits Pakistan
ISLAMABAD, Nov 23, 2006 (AFP) – Chinese President Hu Jintao promised a new era of cooperation with Pakistan Thursday as he arrived for a visit that will include the signing of a free trade accord with Beijing’s closest ally.Hu received a lavish ceremonial welcome for his four-day visit, the first in a decade by a […]
Millions in British tsunami aid unaccounted for: report
LONDON, Nov 23, 2006 (AFP) – More than nine million pounds (13 million euros, 17 million dollars) of British government aid for victims of the Asian tsunami may not yet have been spent, a parliamentary committee said Thursday. The British government committed 75 million pounds in humanitarian assistance following the December 26, 2004 disaster, including […]
As online shopping grows, so do the dangers of fraud and theft
WASHINGTON, Nov 23, 2006 (AFP) – As growing numbers of Americans turn to the Internet for holiday shopping, experts warn that online dangers such as fraud and identity theft are increasing as well. One out of 10 people shopping online could become a victim of online fraud this holiday season, according to a report by […]
Terminally ill Tiger peace negotiator laments fate of Tamils
COLOMBO, Nov 23, 2006 (AFP) – Tamil Tiger peace negotiator Anton Balasingham has confirmed he has terminal cancer but that it is “minor” compared to the “immense suffering” of Sri Lanka’s minority Tamils, a report said Thursday. The London-based Anton Balasingham, 68, who was diagnosed with bile duct cancer last week, also said he was […]
Fresh fighting erupts in eastern Sri Lanka as Indian envoy arrives
COLOMBO, Nov 23, 2006 (AFP) – Heavy fighting gripped Sri Lanka on Thursday as Tamil Tiger rebels and troops blamed each other for the renewed battles and India sent a top envoy to discuss the worsening violence. Sri Lanka’s defence ministry said war planes pounded bases of the rebel Liberation Tigers of Tamil Eelam (LTTE) […]
Sri Lanka troops mount fresh offensive: Tigers
COLOMBO, Nov 23, 2006 (AFP) – Sri Lankan soldiers backed by tanks and artillery launched a fresh ground offensive Thursday into territory held by Tiger guerrillas in the east of the island, a rebel spokesman said. The bitter ethnic conflict has claimed at least 60,000 lives since it began in 1972. Troops were advancing into […]
Sri Lanka rupee gains sharply in volatile trading; stocks up
November 22, (LBO) – Sri Lanka rupee zoomed to 106.05 in early morning trade Wednesday, two days after it hit an all time low of 109.40, after authorities took measures to take immediate pressure off the market, dealers said.Information reaching the market that petroleum bills would not be settled with purchases from the market in […]
Home Bias
Nov 22, 2006 (LBO) – Government attempts to retain more re-insurance at home may reduce the quality of the cover available from the industry and concentrate too much risk in one geographical location, an international risk analyst has warned. Top local firms were now placing risks with re-insurers with ratings of A- or higher, but […]
Big Fish
November 22, 2006 (LBO) – Sri Lanka’s securities watchdog has filed action against nine people for misleading market players with transactions connected with shares of Nawaloka Hospitals Ltd. The nine persons, the SEC says committed “acts to create a false/misleading appearance of an active share market and the offences of aiding and abetting and conspiracy […]
Air travel to boom on low-cost, emerging economies: Airbus
LONDON, Nov 22, 2006 (AFP) – European aircraft maker Airbus said Wednesday that its estimate of world demand for airliners in the next 20 years had leapt by 31.2 percent in two years to a total of 22,700. The surge from estimates in 2004 was being driven by demand from low-cost airlines and by growth […]
Choices: Going North or Going South?
November 22, 2006 (LBO) – The Colombo-Habarana Road is a military supply route. Those driving on it are likely to come across slow moving convoys of army containers guarded by soldiers going North and buses carrying soldiers and sailors going South on home leave. Yet, the recent rains washed away parts of this road between […]