Category:
Bad Advice
May 26, 2006 (LBO) – Sri Lanka’s Nawaloka Hospitals Ltd.’s fortunes swung into the red after providing hefty 284.23 million rupees for its investments in Galadari Hotel Ltd. The largely family controlled private hospital made a loss of 267.07 million rupees after making a profit of 18.97 million rupees for the fourth-quarter ended March 31, […]
”s finance minister warns king
KATHMANDU, May 26, 2006 (AFP) – Humbled King Gyanendra must “behave” or he has no future even as a ceremonial monarch, Finance Minister Dr Ram Sharan Mahat told AFP, revealing a royal spending spree before absolute rule was brought to an end.Gyanendra’s conduct had been “very good” in the month since he relinquished his 14-month […]
‘s Banyan Tree launches IPO
SINGAPORE, May 26, 2006 (AFP) – Singapore-based luxury resort and spa chain the Banyan Tree on Friday launched an initial public offering (IPO) worth up to 407 million Singapore dollars (259 million US). The resort and spa chain is issuing some 380 million shares at a maximum price of 1.07 dollars each and will make […]
Sri Lankan rebels say children freed from their ranks
May 26, 2006 (AFP) – Sri Lanka’s Tamil Tigers have released 16 youths who lied about their age to join the guerrilla movement, the rebels said in a statement received Friday.The Tigers maintain that their fighters are volunteers.“During the period of April and May, LTTE released 16 youths aged 15, 16 and 17 back to […]
Norway in fresh bid to avert full-scale war in Sri Lanka
May 26, 2006 (AFP) – Norway’s top peace envoy held lengthy talks with Sri Lanka’s President Mahinda Rajapakse Friday in a fresh bid to stop the island from drifting back to war, diplomats said.More than 60,000 people have been killed in the island’s Tamil separatist conflict since 1972.Oslo’s International Development Minister Erik Solheim arrived Friday […]
Sri Lanka’s World Trade Centre bans cars on bomb fears
May 25, 2006 (AFP) – Sri Lanka’s twin-tower World Trade Centre banned vehicles Thursday fearing a car bomb attack by Tamil separatist rebels, police and tenants of the complex said.As part of stepped-up security measures, the 39-storey office complex in the heart of Colombo blocked all vehicles from entering, Colombo’s police chief Pujith Jayasundara said. […]
Dormant Money
May 25, 2006 (LBO) – Sri Lanka is looking at the possibility of taking over the dormant accounts and property deposited in commercial and specialised banks which have remained unclaimed over a long period of time, banking sources said. The Central Bank is already collecting data on all bank accounts and properties which have not […]
Fresh Look
May 25, 2006 (LBO) – The Hayleys Group said Thursday that Nirmala Gihan Wickremeratne, Deputy Chairman, will succeed Rajan Yatawara as Chairman of the blue chip conglomerate effective 10th January 2007, on the retirement of the latter after over 40 years of service. Wickremeratne, who joined Hayleys in 1971 and was appointed to the Board […]
Firm Faith
May 25, 2006 (LBO) – Sri Lanka’s biggest leasing company, People’s Leasing, has begun offering Islamic financial products, catering to Muslims who regard interest-based banking as a sin, a top official said Thursday. Muslims make up around 7.5 percent of this tropical island’s population, but local financial institutions have been slow to tailor-make products to […]
Weighing Odds
May 25, 2006 (LBO) – Sri Lanka’s excessive holidays, arbitrary salary increases and the government’s reluctance to settle billions to India’s main oil retailer, is turning out to be a stumbling block for Indians to invest here, officials said Thursday. Sri Lanka also wants more shipments of clothes in key categories and a relaxing of […]
Sri Lanka truce monitors seek more manpower, kit
May 25, 2006 (AFP) – The Scandinavian truce monitoring mission in Sri Lanka wants to boost its numbers by at least 25 percent and is outfitting observers with flak jackets and helmets, the mission said Thursday.The request for additional personnel comes after the Sri Lanka Monitoring Mission (SLMM) said the lives of its observers had […]
Tamil people preparing for war: Sri Lankan rebel commander
May 25, 2006 (AFP) – The Tamil people are preparing for war and nobody can defeat them, a top Sri Lankan rebel military commander was quoted as saying Thursday.Colonel Jeyam, of the Liberation Tigers of Tamil Eelam (LTTE), was quoted by the pro-rebel Tamilnet.com website at a memorial ceremony for another senior rebel commander who […]