All Blogs
Death Sentence
NEW DELHI, August 11, 2011 (AFP) – India’s president has rejected mercy pleas from three men convicted of the 1991 assassination of then prime minister Rajiv Gandhi, paving the way for their execution, an official told AFP on Thursday. “The rejection (of the clemency petitions) happened last week after the president returned from a foreign […]
Sentencing Plea
Aug 11, 2011 (LBO) – Lawyers for Raj Rajaratnam, a Sri Lanka born fund manager convicted of insider trading, said he should be dealt leniently because of his failing health, the state exaggerated his crimes and his good deeds. US prosecutors had demand a maximum sentence of 24.5 years and described him as the ‘modern […]
Sri Lanka urban agency plans Colombo JV development
Aug 11, 2011 (LBO) – Sri Lanka’s Urban Development Authority will call proposals for a joint venture commercial development in a nine acre state land in the capital Colombo, chairman Janaka Kurukulasuriya said. “We need the money urgently but we also need money in the long term to sustain,” he said. The agency has more […]
Sri Lanka US$400mn lakefront mall by India group
Aug 11, 2011 (LBO) – Indocean Developers (Pvt) Ltd, a firm backed by an Indian property group, will build a 400 million US dollar shopping and residential complex in a prime lakefront in Sri Lanka’s capital Colombo, officials said. Janaka Kurukulasuriya, chairman of Sri Lanka’s Urban Development Authority said the Indian promoters had paid 23 […]
Sri Lanka Treasuries yields flat
Aug 10, 2011 (LBO) – Sri Lanka’s Treasuries yields were flat at Wednesday’s auction with 3-month bills fetching 7. 11 percent at Wednesday’s auction, the government’s debt office said. The 6-month bills were also flat at 7. 19 percent and 12-month bills were flat at 7.25 percent. The debt office, which is a unit of […]
Sri Lanka stocks rebound 1.03 percent
Aug 10, 2011 (LBO) – Sri Lankan stocks closed up 1.03 percent Wednesday in a retail driven rally anticipating a relaxation of margin buying rules with property stocks being pushed further up, brokers said. Seylan Developments closed at 18.90 rupees up 1.70 rupees or 9.8 percent, with 13.5 million shares traded for 254 million rupees. […]
Auto Profits
Aug 10, 2011 (LBO) – Sri Lanka’s Diesel and Motor Engineering Company, an auto importer and distributor said net profits in the June 2011 quarter rose 321 percent to 636 million rupees with revenues growing 112 percent to 7.2 billion rupees. Sri Lanka’s vehicle imports are seeing a boom after taxes were cut on cars […]
Sri Lanka eastern farmers to grow sea bass, mussels, oysters: USAID
Aug 10, 2011 (LBO) – Farmers in Trincomalee in eastern Sri Lanka are growing sea bass in cages as part of a larger aquaculture project involving 1,300 people who will also grow mussels and oyster, with help from the US Agency for International Development (USAID). The US embassy in Colombo said over 50 percent of […]
Sri Lanka war ravaged rice mill gets ILO help
Aug 10, 2011 (LBO) – The International Labour Organization is helping a co-operative society in northern Sri Lanka rebuild a war-damaged rice mill, which will process paddy produced by 2,000 farmers in the area. The mill in Nadunkerni, Vavuniya, can process 4,000 metric tonnes of paddy (unhusked rice) a year, creating 20 jobs. The ILO […]
Sri Lanka Bairaha June net down 47-pct
Aug 10, 2011 (LBO) – Sri Lanka’s Bairaha Farms, a poultry group said net profits fell 47 percent to 55. 1 million rupees in the June 2011 quarter with revenues down 01 percent to 565 million rupees. The firm reported earnings of 3. 45 rupees per share for the quarter. Sri Lanka’s poultry stocks have […]