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Transport Trouble
Apr 06, 2011 (LBO) – Sri Lanka’s supply chain losses are the highest in the region with a poor road network and congestion resulting in transport delays and higher costs, an expert said. Kumarage, a former chairman of the national transport commission, said better transport policies and implementation were required apart from building better roads […]
Scribe Network
WASHINGTON, April 6, 2011 (AFP) – Facebook on Tuesday launched a media resource page to help journalists use the social network as a reporting tool and better connect with their audience. The “Journalists on Facebook” page is intended to be “an ongoing resource for the growing number of reporters using Facebook to find sources, interact […]
‘s Satya Sai Baba in critical condition: doctors
HYDERABAD, April 5, 2011 (AFP) – One of India’s best-known spiritual leaders, known for his apparent miracles and long list of influential followers, is on life support in hospital, doctors said Tuesday. Satya Sai Baba, 85, who has devotees in more than 100 countries, was admitted to a hospital funded by his organisation in the […]
Sri Lanka to strengthen airline passenger, investor protection
Apr 06, 2011 (LBO) – Sri Lanka plans to introduce consumer protection laws and ratify international conventions that will better protect investors and ensure higher compensation for airline passengers, an official said. The convention safeguards claims of all parties in airline transactions and gives an assurance to investors to invest in the sector, Nimalsiri said. […]
Sri Lanka vice-captain, selectors quit
April 6, 2011 (AFP) – Veteran batsman Mahela Jayawardene quit as vice-captain and a three-member selection committee also resigned en masse in a major shake-up in Sri Lankan cricket following the team’s World Cup defeat. “I think it’s time to move on, give the reins to someone younger in the team,” Jayawardene told AFP. The […]
Sri Lanka ties held back by rights concerns, US says
WASHINGTON, April 5, 2011 (AFP) – The United States said Tuesday that future cooperation with Sri Lanka depended on improvements in its human rights record and an accounting of the bloodshed at the end of the island’s civil war. With its strategic location and contributions to global peacekeeping, Sri Lanka “is poised to be a […]
Sri Lanka may need monetary tightening: ADB
Apr 06, 2011 (LBO) – Sri Lanka may need monetary tightening later in the year to contain rising inflation and maintain export competitiveness, though growth will be strong for the next two years, the Asian Development Bank said. A central bank inflates an economy mainly by a coercive legal tender law that forces people to […]
Sri Lanka HSBC, British Council backs students in business
Apr 06, 2011 (LBO) – Sri Lankan students studying at universities, private higher education institutions, vocational and professional bodies can win seed capital to start a business in contest launched by the British Council and HSBC bank. Aspiring students will have to submit a business plan to start enterprises in fashion design, architecture, crafts, tourism, […]
Sri Lanka and IMF to discuss ways to rope in excess money
Apr 06, 2011 (LBO) – The International Monetary Fund will discuss ways to deal with the excess money in Sri Lanka’s banking system in a bid to contain further inflation from being generated through the pegged monetary system. Sri Lanka’s central bank allowed inflation hit 8. 6 percent in the 12-months to March 2011 prompting […]
Sri Lanka shares end weaker
Apr 05, 2011 (LBO) – Sri Lankan shares closed marginally lower Tuesday with interest in poultry stocks and the finance sector, brokers said. The All Share Price Index closed at 7,370.02, down 0.04 percent (3.12 points) while the more liquid Milanka index fell 0. 15 percent (10.44 points) to close at 7,022.28, according to stock […]