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Sri Lanka coal plant to cut oil imports
Mar 21, 2011 (LBO) – The commissioning of a coal power plant this week can reduce oil imports to Sri Lanka while also helping strengthen the finances of Ceylon Electricity Board, the state power utility. “That will reduce total oil bill,” Cabraal said. Oil is an important intermediate good for economic activity, fueling both transport […]
Gambling Trend
DANANG, March 20, 2011 (AFP) – The gambler leans back comfortably in his chair at a card table inside Vietnam’s new Crown casino, waiting for his female companion to fetch more cash. At Asia’s casinos, the money just keeps on coming. Analysts say the region’s increasing wealth is funding a gambling boom that saw Macau […]
Yuvraj hits ton but India fail to capitalise
CHENNAI, March 20, 2011 (AFP) – Yuvraj Singh’s maiden World Cup century was the cornerstone of India’s 268 all out against the West Indies on Sunday but the host nation lost their last six wickets for just 36 runs. Fast bowler Ravi Rampaul marked his World Cup debut with a career-best five for 51 which […]
Pakistan end Australia record run, Bangladesh crash
NEW DELHI, March 19, 2011 (AFP) – Pakistan ended defending champions Australia’s 34-match unbeaten World Cup run on Saturday while hapless Bangladesh crashed out in a humiliating rout at the hands of South Africa. On the day that India, England and, barring a mathematical miracle, West Indies completed the quarter-final line-up, Pakistan beat Australia by […]
” energy subsidies end up in national debt
Mar 20, 2011 (LBO) – Several years of accumulated ‘off-budget’ energy subsidies have now come home to roost in the Sri Lanka’s national debt, laying bare a tangled web of state energy price manipulation and budgeting. Sri Lanka’s Treasury, the agency that collects taxes from the people and also issues debt against future taxes collectable […]
Islamic Finance
Mar 19, 2011 (LBO) – Top organizations representing Sri Lanka’s lawyers and accountants have brought together experts in Islamic finance to broaden understanding of one of the faster growing niches in the financial sector. The program will introduce the concept deal with equity investments, accounting for Islamic finance, corporate governance, the regulatory framework, legal and […]
Sri Lanka banana waste for value added products
Mar 19, 2011 (LBO) – Sri Lanka, which has 53 varieties of banana, has got Indian expertise under a United Nations funded project to help farmers make money by using waste from banana plants, officials said. The UNDP supported pilot project will be launched in north-central Anuradhapura, southern Embilipitiya and northern Jaffna. The United Nations […]
Sri Lanka textile firm to raise US$26.3mn in equity
Mar 19, 2011 (LBO) – Sri Lanka’s Textured Jersey, a textile make owned by Brandix Lanka Ltd and Pacific Textiles of Hong Kong said it is planning to raise 2.9 billion rupees (26.3 million US dollars) through a private placement and initial public offering. Pacific Textiles now owns 60 percent of the firm and Brandix […]
”’ legend Murali
MUMBAI, March 18, 2011 (AFP) – Sri Lanka skipper Kumar Sangakkara hailed veteran spinner Muttiah Muralitharan as a legend for his four-wicket contribution in Friday’s World Cup win over New Zealand. Muralitharan, playing in his final World Cup before retirement, took 4-25 as the Black Caps were dismissed for 153 to lose by 112 runs. […]
Hobbling Murali leads Sri Lanka to victory
MUMBAI, March 18, 2011 (AFP) – Veteran spinner Muttiah Muralitharan shrugged off a worrying injury scare to take four wickets as Sri Lanka defeated New Zealand by 112 runs in their World Cup Group A clash on Friday. It was always a tough ask for New Zealand on the Wankhede Stadium pitch, which will stage […]