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Sri Lanka ruling party wins 144 seats
Apr 21, 2010 (LBO) – Sri Lanka’s ruling United People’s Freedom Alliance of President Mahinda Rajapaksa has won 144 seats just six seats short of a two thirds majority while the main opposition trailed with 60 seats, final results show. The ruling coalition won a re-poll yesterday in Kandy in central Sri Lanka and the […]
Sri Lanka ruling party wins huge majority
April 20, 2010 (AFP) – Sri Lanka’s ruling party has won a near two-thirds majority in parliament at national polls, the elections commission said in final results announced Wednesday. The parliamentary election was held just two months after presidential polls in which more than 75 percent of the electorate cast their ballots. The two nationwide […]
Sri Lanka shares edge higher amid profit-taking
Apr 20, 2010 (LBO) – Sri Lanka’s stock market edged higher but saw some profit-taking Tuesday after hitting new highs the day before and trading was lower with interest on hotels and banks, brokers said. There were a few private, off-the-floor deals in banking and hotel stocks which pushed up the day’s trading turnover. John […]
Film Awards
Apr 20, 2010 (LBO) – Sri Lanka will host an annual Indian film awards in Colombo in June drawing Bollywood stars to the country and opening opportunities for films to be shot on location in the former war-torn island industry officials said. A business forum, fashion show, celebrity cricket match, world premiers of upcoming Indian […]
Telco Software
Apr 20, 2010 (LBO) – Sri Lankan firms developeing mobile and telecom software have teamed up with other players in the the sector to set up a ‘centre of excellence’ to foster collaboration, an industry body said. “Our national strategy is to focus on several high potential niche areas to compete globally as a niche […]
‘s trial to resume after assembly opens
April 20, 2010 (AFP) – The court martial of Sri Lanka’s former army chief Sarath Fonseka was on Tuesday adjourned until after the opening of the country’s new parliament, in which he won a seat this month, officials said. The three-judge military court postponed the case until May 4 after a brief hearing on Tuesday, […]
Sri Lanka gets US support for business in former war zone
Apr 20, 2010 (LBO) – The US Agency for International Development has tied up with Sri Lanka’s private sector to support new businesses in the former war zone that will generate employment, the aid agency said. The USAID Public-Private Partnerships for Northern and Eastern Sri Lanka Program is expected to create the equivalent of 5,000 […]
”: Central Bank
Apr 20, 2010 (LBO) – Sri Lanka’s state enterprises should be fixed as an “urgent policy priority” with a “strong reform programme” the island’s central bank said as seven state entities lost nearly 50 billion rupees in 2009 which is equal to one percent of gross domestic product. Losses in state enterprises and borrowing from […]
Sri Lanka must cut budget deficit, inflation: ADB
Apr 20, 2010 (LBO) – Post-war Sri Lanka’s main priorities in accelerating economic growth would be to rein in ballooning budget deficits and inflation, the Asian Development Bank said. The government is expected to introduce reforms to broaden the tax base and reduce tax exemptions in the 2011 budget in order to increase revenue, said […]
Sri Lanka shares hit new high
Apr 19, 2010 (LBO) – Sri Lankan stocks shot through the 4,000-point mark on the benchmark index Monday, hitting a new high as investors returned after holidays, enthused by anticipated higher corporate earnings and political stability after an election, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send […]