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Sri Lanka lures Tamil diaspora investment for former war zone
Apr 05, 2010 (LBO) – Sri Lanka’s investment promotion agency said it has set up an office in the former war zone of northern Jaffna to handle foreign investments especially from Tamils who migrated to avoid the conflict. The Board of Investment said in a statement staff at its new Jaffna branch are all Tamil […]
Sri Lanka exporters have to face stronger rupee: Treasury Secretary
Apr 05, 2010 (LBO) – Sri Lanka’s exporters should get ready to face a steadily strengthening exchange rate and improve productivity to operate in the new environment, Treasury secretary P B Jayasundera said. “Our currency has depreciated but from this year, it will appreciate,” Jayasundera told a forum at central bank’s headquarters in Colombo. “Our […]
‘s counterproductive nationalism
Apr 04, 2010 (LBO) – This is an election special. There is value in analyzing election messages. Whether positive or negative, such analysis advances debate and understanding. As said elsewhere, elections are teachable moments. And a note to the candidates: “Publicity, darling. Just publicity. Any kind is better than none at all.” (As said by […]
Sri Lanka military on alert ahead of vote: police
April 4, 2010 (AFP) – Sri Lanka placed nearly 20,000 troops on alert to reinforce police as violence escalated ahead of parliamentary elections, a police spokesman said Sunday. Police said they had received 270 polls-related complaints and 200 people had been arrested. The private Centre for Monitoring Election Violence (CMEV) reported 325 minor incidents of […]
Loan Conversion
Apr 03, 2010 (LBO) – Sri Lankan glass maker, Piramal Glass Ceylon, a Sr has converted more than half of its long term rupee debt to dollar loans to cut finance costs, a senior official said. “We have recently in the last quarter converted our (rupee) loans to foreign currency loans,” Sanjay Tiwari, chief executive […]
ICC works to ease visa problems for WCup
April 2, 2010 (AFP) – The International Cricket Council on Friday said it was working to ease visa complications for overseas fans wishing to travel to the 2011 World Cup on the Indian sub-continent. Sri Lanka, India and Bangladesh who are co-hosting the flagship event have promised to speed-up and simplify the visa issuing process, […]
Sri Lanka detained writer probed for radical links: police
April 3, 2010 (AFP) – A Sri Lankan woman taken into custody last month for writing books about her conversion to Islam for Buddhism is being investigated for possible links to Islamic extremists, police said Saturday. Last weekend, police said the woman, identified as Malini Perera, was taken into custody under tough emergency laws over […]
Detained Sri Lanka writer probed for radical links: police
April 3, 2010 (AFP) – A Sri Lankan woman taken into custody last month for writing books about her conversion to Islam from Buddhism is being investigated for possible links to Islamic extremists, police said Saturday. Last weekend, police said the woman, identified as Malini Perera, was taken into custody under tough emergency laws over […]
Sri Lanka govt rules out more protection, subsidies for business
Apr 02, 2010 (LBO) – The Sri Lankan government cannot give more protection and subsidies for local and export businesses who must instead be more productive and innovative, Treasury Secretary P B Jayasundera said. He told the National Chamber of Exporters the government has delivered peace by ending the Tamil Tiger war and begun building […]
Sri Lankan private pension funds encouraged to enter equities: SEC chairman
Apr 02, 2010 (LBO) – Pensions funds operated by private firms would be encouraged to invest more in the stock market and legal hurdles that prevented them would be cleared, Sri Lanka’s capital market regulator said. Sri Lanka state managed EPF has been investing heavily in the equity market in recent weeks as long-standing foreign […]