All Blogs
Britain urges Sri Lanka to make progress on rights by 2013
LONDON, October 30, 2011 (AFP) – British Prime Minister David Cameron urged Sri Lanka on Sunday to make progress on human rights before it hosts the next Commonwealth leaders meeting in 2013 to prevent the likelihood of boycotts. Cameron said he pressed President Mahendra Rajapaske during this year’s Commonwealth heads of government meeting in Australia […]
Sri Lanka expropriation law will harm investment: ex-chamber chief
Oct 31, 2011 (LBO) – A former head of Sri Lanka’s largest business chamber, Chandra Jayaratne, has warned that a proposed expropriation law will harm the island’s image as a safe investment destination. The proposed bill, which was reportedly written by a private law firm, seeks to vest in the state ‘underperforming enterprises and underutilized […]
Sri Lanka lures Vietnam businessmen
Oct 31, 2011 (LBO) – A team of Vietnamese businessmen who visited Sri Lanka recently as part of a state visit by Truong Tan Sang, president of Vietnam, was reported to be keen on investing in the island. During the visit the Sri Lanka – Vietnam Business Council of the Ceylon Chamber of Commerce held […]
Sri Lanka inflation eases to 5.1-pct in October
Oct 31, 2011 (LBO) – Consumer inflation in Sri Lanka’s capital Colombo slowed to 5.1 percent in October 2011, from 6. 4 percent in September, the third straight monthly slowdown, the state statistics office said. The Colombo Consumer Price Index slid 0. 1 percent to 151.5 points in October, from 151.7 in September. The 12-month […]
G20 leaders to meet under threat of new global recession
PARIS, October 31, 2011 (AFP) – Leaders of the world’s biggest economies meet in Cannes this week as Europe tries to convince markets and US critics that its debt bail-out package is serious and urges China to fund it. “I think the result will be welcomed with relief by the whole world, which expected strong […]
Visa Scam
WASHINGTON, October 30, 2011 (AFP) – A case working its way through a federal court in California has exposed huge student visa scams by “sham” universities cashing in on Indians and other foreigners looking for a quick path to jobs in the United States. Enrollment at Tri-Valley University, an unaccredited self-styled Christian graduate school, surged […]
Bill Rumpus
Oct 30, 2011 (LBO) – At least two listed companies in Sri Lanka have been named among several dozen, in a secretly hatched law to expropriate assets of firms deemed by the state as ‘underperforming’ or ‘underutilized’, a media report said. The two listed firm named in the secret law in Hotel Developers (Lanka) Plc, […]
Commonwealth agree they must reform
PERTH, October 30, 2011 (AFP) – A Commonwealth summit bringing together world leaders from the 54-nation bloc closed Sunday agreeing on the urgent need to reform the grouping but without consensus on human rights. In a communique, they noted that a report from an “Eminent Persons Group” (EPG) set up at their last meeting to […]
Price Balance
Oct 30, 2011 (LBO) – Sri Lanka has raised pump prices by around 10 percent with petrol prices going up by 12.00 rupees a litre and diesel by only 8. 00 rupees, widening an already existing gap. The standard 90-Octane petrol will now cost 137 rupees at the pump and the premium 95-Octane 155 rupees. […]
India to open rival bids for $12 bn fighter deal
NEW DELHI, October 28, 2011 (AFP) – India’s Defence Ministry has invited the two rivals for a $12 billion jet fighter contract — France’s Dassault and the European Eurofighter consortium — to unveil their bids next week. The Dassault group is hoping to secure the contract for 126 jets, one of the largest military contracts […]