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Sri Lanka plans rice exports to South Africa: minister
May 21, 2012 (LBO) – Sri Lanka is in talks with a South African commodity firm to export 20,000 tonnes of rice lying at Paddy Marketing Board, a state-run grain purchasing firm, officials said. Agriculture minister Mahinda Yapa Abeywardene said discussions have been initiated to sell ‘red-rice’ to South Africa at about 370 dollars a […]
Sri Lanka starts exporting maize
May 21, 2012 (LBO) – Sri Lanka’s will export its first consignment of maize on May 22, filling a part of a 10,000 tonne order to Taiwan and Canada as domestic production picks up pace, officials said. Sadikeen said as a result buyers were prepared to pay more for his maize. He was exporting at […]
Electric Lessons
May 21, 2012 (LBO) – Hearing I was off to the Himalayan Kingdom of Bhutan, a friend wrote ‘come back and tell us what you learned.’ This question was on my mind when I heard that Sri Lanka’s Minister of Power and Energy was in Bhutan at the same time. What had we each learned […]
Sri Lanka frees ex-army chief from prison
May 21, 2012 (LBO) – Sri Lanka former army chief Sarath Fonseka walked out of prison on Monday to a hero’s welcome, after President Mahinda Rajapakse ordered his release. Fonseka unsuccessfully tried to unseat Rajapakse in the January 2010 presidential election. The two fell-out as to who should take credit to crush the Tigers in […]
Mortgage Lending
May 20, 2012 (LBO) – Profits at Sri Lanka’s HDFC Bank, a mortgage lender quarter rose 79 percent to 125 million rupees the March 2012 quarter helped by higher interest income, interim accounts showed. The bank reported earnings of 1. 94 rupees for the quarter. The stock traded at 54.60 rupees, up 80 cents Friday. […]
’s jailed ex-army chief smells freedom
May 20, 2012 (LBO) – Sri Lanka’s President Mahinda Rajapakse has signed papers to pardon jailed ex-army chief Sarath Fonseka, his aide said Sunday, a day after the island marked three-years since defeating the Tamil Tigers. Rajapakse inked the papers on Friday evening and passed them to his chief-of-staff, his spokesman Bandula Jayasekera said. The […]
Boat Protection
May 19, 2012 (LBO) – Sri Lanka will make boats more expensive for fishermen in a bid to fatten the profits of boat builders, the island’s industries ministry said, in the latest in a series of move to restrict economic freedoms of citizens. Fishermen had won the freedom to import boats freely after a tsunami […]
Sri Lanka on Tiger Airways Asian promotion
May 19, 2012 (LBO) – Singapore based Tiger Airways, a budget carrier, said it was kicking off a promotion to Asian destinations in June as it adds Sri Lanka to its network. “Travellers looking for a different holiday in the region will be amazed at what multi-faceted Asia has to offer,” Stewart Adams, managing director […]
’s president rejects demands to rollback military camps
May 19, 2012 (LBO) – Sri Lanka’s president on Saturday, rejected demands to remove military camps in the island’s north and urged international co-operation to modernise the country. We must ask if we in a position to remove the armed forces camps in the north and reduce our attention national security. That is not possible, […]
Sri Lanka bond yields ease
May 18, 2012 (LBO) – Sri Lanka’s bond yields edged lower as more money as earlier increases in rates drew more money into the market, and short term rates fell below this week’s auction prices dealers said. During the current balance of payments crisis the rupee fell from 110 to 130 to the US dollar. […]