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Sri Lanka to re-assess foreign investment strategy
May 13, 2010 (LBO) – Sri Lanka’s investment promotion agency will re-assess its strategy following the end of a long drawn out separatist war with plans for a stronger focus to attract investments from the United States and Europe, officials said. The Board of Investment of Sri Lanka now has a five-year corporate plan. But […]
Sri Lanka Treasuries yields fall
May 12, 2010 (LBO) – Sri Lanka Treasuries yields fell at Wednesday’s auction though not all maturing bills were sold to real buyers, the government’s debt office, which is a unit of the Central Bank said. The 3-month yield fell to 06 basis points to 8.18 percent, the 6-month yield fell 09 basis points to […]
” in demand
May 12, 2010 (LBO) – Sri Lankan shares closed higher Wednesday as retailers booked profits and re-invested in small-cap companies or ‘penny stocks’ as cheap shares are known, while Nawaloka and Galadari Hotel shares were heavily traded, brokers said. Commercial Bank of Ceylon closed flat at 242. 00 rupees, Hatton National Bank closed at 233.00 […]
Port Rivalry
May 12, 2010 (LBO) – A new harbour in southern India built by DP World to open in August plans to lure ships away from Sri Lanka’s Colombo port, the present south Asian container transshipment hub, an official said. The new deep-water terminal in Kochi, south India, will be able to handle the 13,000-container capacity […]
Released
BRUSSELS, May 11, 2010 (AFP) – Pirates released a Bermudan-flagged cargo ship and its mainly Sri Lankan crew on Tuesday after a ransom was paid, the EU naval force said two months after the vessel was seized off the Oman coast. The ransom drop was made on Saturday but the pirates remained on board the […]
Chinese Lift
May 12, 2010 (LBO) – The Sri Lanka Ports Authority (SLPA) has signed an agreement with a Chinese supplier to buy cranes worth 7,200 million rupees urgently needed for its Colombo port container terminals, a statement said. The statement quoted Wickrama as saying the arrival of the new machinery at JCT will boost the efficiency […]
Legal Action
VANCOUVER, May 11, 2010 (AFP) – A fundraiser for the outlaw Sri Lankan Tamil Tigers pleaded guilty here Tuesday in the first case to be prosecuted under Canada’s terrorism financing laws. Prapaharan Thambithurai “pleaded guilty to providing financial services, knowing that they will benefit a terrorist group, namely the Liberation Tigers of Tamil Eelam (LTTE),” […]
Niche Market
May 12, 2010 (LBO) – An Indian business process outsourcing firm that is setting up a unit to start off-site engineering services says Sri Lanka’s evolving tertiary education system is providing it with a talent pool and costs are manageable. India’s MphasiS is planning to invest 3.5 million dollars in a Sri Lankan operation and […]
Sri Lanka to host power, renewable energy expo in June
May 12, 2010 (LBO) – Sri Lanka will play host to more than 50 firms in power generation, transmission, and renewable energy at an exhibition in June targeted at foreign and local business visitors, organizers said. Sarwar says the exhibitions also industries using power. Foreign visitors are also billed to attend the exhibitions. The ’02nd […]
Sri Lanka qualifies by knocking out India
GROS ISLET, May 12, 2010 (AFP) – Sri Lanka qualified for the World Twenty20 semi-finals after their five-wicket last ball win over India and Australia’s six-wicket victory against the West Indies combined to send them into the last four here on Tuesday. Chamara Kapugedera’s six off the final ball saw Sri Lanka to a dramatic […]