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Sri Lanka gets World Bank loans for small business, tourism
Nov 08, 2010 (LBO) – The World Bank said it will give Sri Lanka 125.4 million US dollars for three projects to support Small and Medium Enterprises, tourism and local service improvements in the former north-east war zone. “The three projects will help Sri Lanka reap maximum benefits of the peace dividend and make further […]
Sri Lanka unemployment lower in 2Q, but industry jobs fall: survey
Nov 08, 2010 (LBO) – Sri Lanka’s unemployment fell to 5.4 percent of jobseekers in the second quarter of 2010, down from a peak of 6.2 percent a year earlier, but there was fall in industrial workers. Compared to the first quarter of 2010, unemployment rose from 5. 0 percent. In the first quarter farming […]
Prison Clash
November 7, 2010 (AFP) – More than 50 police and prison officials were injured Sunday by inmates at Sri Lanka’s main jail in the capital Colombo after authorities launched a drugs raid, officials and doctors said. Convicts beat up police as they stormed the Welikada prison to search for hidden narcotics as part of a […]
Coal India issue could boost future state sales: analysts
MUMBAI, November 7, 2010 (AFP) – The success of India’s 3. 4-billion-dollar sale of shares in state-run Coal India has raised hopes of big returns for the government from a cascade of looming partial privatisations, analysts say. The sale of a 10 percent stake in Coal India was oversubscribed 15 times and shares soared 40 […]
Sri Lanka builds more mini-hydro, wind power plants
Nov 07, 2010 (LBO) – Sri Lanka is building more mini-hydro and wind power plants but needs more technology transfer to ensure better use of renewable energy, officials said. Energy produced from wind and solar plants varies depending on the availability of wind and sunlight and hence cannot be used as base load power. “There […]
Marketing Bond
Nov 06, 2010 (LBO) – Cargills (Ceylon), which runs Sri Lanka’s biggest supermarket chain, has begun selling products of farmers in the former war zone in the northern Jaffna peninsula, officials said. The bank has given 105 million rupees in loans among over 3,000 micro-entrepreneurs, farmers and fishermen to restart their income generating activities in […]
” India visit
MUMBAI, November 6, 2010 (AFP) – President Barack Obama announced Saturday 10 billion dollars in trade deals with India to create 50,000 US jobs, on a visit that began with an emotional tribute to victims of the 2008 Mumbai attacks. Kicking off a four-nation Asian tour weighted towards prying open new markets for US goods, […]
Aussies hapless, woeful against Sri Lanka: press
SYDNEY, November 6, 2010 (AFP) – Australian newspapers Saturday accused Ricky Ponting’s men of embarrassing, hapless and woeful play against Sri Lanka after the visitors scored their first-ever series success Down Under. Just weeks out from the start of the keenly-awaited Ashes series against England and without a win in any format since July, the […]
Oil Plan
NEW DELHI, Nov 5 (Asia Pulse) – State-owned Indian Oil Corp is eyeing a contract to revamp and expand the sole refinery in Sri Lanka. IOC’s interest in upgrading and doubling capacity of Ceylon Petroleum Corp’s (CPC) Sapugaskanda Refinery to 4 million tonnes a year came up at a meeting between Indian Oil Minister Murli […]
Sri Lanka credit pick up may reduce excess liquidity: Deputy Governor
Nov 06, 2010 (LBO) – Growing credit and imports may reduce excess rupee reserves in Sri Lanka’s banking system which built up as the central bank bought foreign exchange to stop the currency appreciating, deputy governor Dharma Dheerasinghe said. “Credit is moving,” he said. “Total credit growth is now about 15 percent.” In 2009 credit […]