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July 11, 2011 (LBO) – Cairn India which is exploring for petroleum resources off Sri Lanka has called for proposals for oil spill response equipment and services as it prepares to drill its first well in August this year. The company announcement said delivery of equipment could be either at Colombo or Chennai in south […]
Sri Lanka exports up 37-pct in April
July 11, 2011 (LBO) – Sri Lanka’s exports rose 37 percent in April 2011 to 745. 7 million US dollars driven by a 41 percent gain in industrial exports to 574 million US dollars, while imports also rose 53 percent to 1.5 billion US dollars, the Central Bank said. Intermediate goods rose 34 percent to […]
Peace Dividend
July 10, 2011 (LBO) – Singer Sri Lanka, a consumer durables firm, a top retailer of televisions, refrigerators and sewing machines says sales in the former war-torn north and east of the country has doubled since a 30-year war ended two years ago. “Now, North-east is giving 6.5 percent percent of the sales,” chief executive […]
‘s slowing economy
NEW DELHI, July 10, 2011 (AFP) – Not long ago it was the toast of investors, but India’s appeal has taken a hit, with bearish sentiment building thanks to worries over stubbornly high inflation and widespread political corruption. “If we had the right supportive economic ecosystem and big-ticket reforms, 10 percent growth would not have […]
Sri Lanka holds Briton over war crimes video: media
July 9, 2011 (AFP) – Sri Lanka has arrested a Briton for allegedly helping a British TV channel produce a documentary accusing Sri Lankan troops of war crimes, a media report said on Saturday. A Colombo magistrate on Friday agreed to a police request to detain the suspect, a British citizen of Sri Lankan origin, […]
Sri Lanka presses Pakistan to lower tariffs
July 10, 2011 (LBO) – Sri Lanka is pressing Pakistan to reduce import duties on key exports from the island with the issue to be taken up again at a forthcoming meeting in Colombo following talks in Islamabad. Pakistan would consider reducing high tariffs imposed on certain Sri Lankan agriculture products, the statement said. Analysts […]
Sri Lanka workforce dying early: report
July 10, 2011 (LBO) – Sedentary lifestyles and absence of regular health checks are making Sri Lanka’s workforce unhealthy with an alarming increase in early deaths that could have implications for economic growth, a media report said. “The war is over but Sri Lanka’s workforce is sitting on a fast-ticking time bomb,” the Sunday Times […]
Former royals renounce Indian temple treasure
NEW DELHI, July 8, 2011 (AFP) – The head of a former Indian royal family renounced Friday any personal claim to billions of dollars’ worth of ancient treasure discovered in a Hindu temple in the kingdom his ancestors once ruled. On Friday, the Supreme Court directed that the opening of the final vault be deferred […]
Sri Lanka LOLC group builds 6MW dendro plant
July 9, 2011 (LBO) – United Dendro Energy, a unit of Sri Lanka’s LOLC group is building a 6 MegaWatt dendro power plant to be fired by gliricidia with plans to eventually build 24MW of biomass generating capacity, the company said. The firm was now building a 4MW plant in the southern Kalutara district, which […]
Sri Lanka tea exporter plans off-shore blending plant
July 9, 2011 (LBO) – HVA Foods, a Sri Lanka-based branded tea exporter is planning a blending unit in the Middle East to gain a bigger share in the global retail market by making use of trade liberties. “Discussions with our Middle East partner is at an advanced stage,” HVA Foods chairman Rohan Fernando was […]