Category: Other
Deviltry
June 10, 2007 (LBO) – A popular folk story talks of a villager and a chance meeting of a demon in the forest and using his craftiness to get the demon to work for him. Therefore, the use of inflation as a measure for funding government budgets is not an advisable strategy for any government. […]
Clear Rules
June 08, 2007 (LBO) – A top World Bank official Thursday warned of the dangers of governments accepting unsolicited proposals in public-private partnership projects, saying it could lead to controversy and corruption allegations. Governments accepting unsolicited proposals in public-private partnership (PPP) projects should introduce some form of competitive bidding, World Bank Country Director Naoko Ishii […]
Ships cry for help as wild weather lashes Australia
SYDNEY, June 8, 2007 (AFP) – Rescue helicopters braved wild weather to airlift 21 crew members from a stricken freighter as pounding seas threatened to beach others on Australia’s east coast Friday.The Filipino and Korean crew on board the 30,000-tonne coal carrier Pasha Bulker, which ran aground off Newcastle harbour north of Sydney, were winched […]
Inflated Fines
June 07, 2007 (LBO) – Sri Lanka’s capital markets watchdog is planning to impose stiffer penalties as part of an overall revamp of key statutes governing the Securities Exchange Commission (SEC), a top official said. The authorities have recently introduced a new company law and new corporate governance rules are being made mandatory for listed […]
” inflation with subsidies as prices spike
DHAKA, June 7, 2007 (AFP) – Bangladesh’s emergency government was Thursday set to announce a slew of subsidy and welfare measures in a 12.6 billion dollar anti-inflation budget. The interim government’s finance minister, A.B. Mirza Azizul Islam, would announce the budget in a pre-recorded speech to be broadcast by radio and television stations. The military-backed […]
China central bank on guard over inflation in food prices
BEIJING, June 6, 2007 (AFP) – China’s central bank is on guard against the recent rise in food prices and might consider an interest rate hike to cool rising inflation, state media said Wednesday, citing the central bank chief. In a report to clients, Goldman Sachs forecast late last month that the rise in pork […]
Trend Setter
June 05, 2007 (LBO) – Richard Pieris, a Sri Lanka listed firm, has declared a cash dividend and a stock distribution under provisions of a new company law that came into effect last month.A bonus also increased the shares in issue without affecting the assets of the company, which has the same effect as a […]
High Standards
June 04, 2007 (LBO) – Sri Lanka’s new company law should encourage good governance and help deter boardroom abuses that have given the corporate sector a bad name, experts said. This act is easy to understand and reader friendly so you can read and understand your responsibilities, Cabraal said. The new companies act should only […]
” opponents
PANAMA CITY, June 3, 2007 (AFP) – The head of the Organization of American States opened a hemispheric summit late Sunday with a warning against “silencing” political opponents, a week after Venezuelan President Hugo Chavez shut down an opposition television station.“The first duty of a democratic government is broadening democracy,” OAS Secretary General Jose Miguel […]
‘s JFK airport
NEW YORK, June 2, 2007 (AFP) – US authorities said Saturday they foiled an Islamic terrorist plot to bomb fuel supplies and pipelines at John F. Kennedy airport, averting a potentially catastrophic attack and “unthinkable” carnage at and around the massive airfield. Four suspected Islamic extremists — including Abdul Kadir, a former member of Guyana’s […]
European Union asks Maldives to re-start talks with opposition and usher in democracy
June 03, 2007 (LBO) – The European Union (EU) has called on the Maldivian government to re-start talks with the opposition aimed to bring democracy to the islands. “The EU urgently calls upon the President of the Maldives to take concrete steps in this direction by creating an enabling environment for talks,” the EU said […]
Rating Reports
Full Release (London/Hong Kong, April 23, 2007) – Fitch Ratings has affirmed the Democratic Socialist Republic of Sri Lanka’s foreign and local currency Issuer Default Ratings (“IDRs”) of ‘BB-‘ (BB minus) with a Negative Outlook. The Country Ceiling is affirmed at ‘BB-‘ (BB minus) and the Short-term foreign currency rating at ‘B’.The Outlook on Sri […]