All Blogs
Sri Lanka Continental for sale: report
Nov 01, 2009 (LBO) – Sri Lanka’s Hotel Ceylon Continental controlled by business magnate Nahil Wijesuriya is up for sale and the deal may be closed within two months, a media report said. Sri Lanka’s tourism authorities have legal powers to dictate pricing of hotels. “I am aggressively seeking to sell the property and hope […]
US Quizz
November 1, 2009 (AFP) – Sri Lanka called on US authorities to drop plans to interview the island’s military commander over allegations of war crimes against ethnic Tamil rebels, an official said Sunday. The Colombo government held “very high-level” talks to prevent General Sarath Fonseka, currently visiting Oklahoma, from being quizzed over his conduct during […]
Sri Lanka needs rulers who respect law and order: senior executive
Nov 01, 2009 (LBO) – Sri Lanka’s private sector should support lawmakers who respect law and order to bring about a free, fair and just society, which is the basis of democracy, a senior private sector executive has said. An attempt to set up independent commissions to create institutions that serve the people without favour […]
Fiscal Rates
Oct 31, 2009 (LBO) – Sri Lanka finance ministry would issue a circular directing state banks to cut lending rates and there was a possibility of private banks being also directed to cut lending rates through the island’s monetary authority, a government minister said.Sri Lanka’s powerful president Mahinda Rajapaksa ordered state bank to cut lending […]
Legal Seminar
Oct 31, 2009 (LBO) – A seminar on the implications on Sri Lanka’s the new company law featuring senior legal experts targeted at educating director, chief executives, senior managers and corporate lawyers will be held on November 05. Its organizers Legal & Financial Advisory Services, a legal consultancy, and Marketing Services, a marketing consultancy, say […]
‘s former rebels
October 30, 2009 (AFP) – The United States on Friday announced funding for up to 1,000 former Tamil guerrillas to reintegrate in society by starting their own businesses or learning new skills. The US embassy here said they were giving equipment and supplies to ex-fighters while vocational training was also being made available to help […]
Sri Lankan stocks close flat, low activity
Oct 30, 2009 (LBO) – Sri Lanka stocks closed flat Friday, with retail buyers awaiting positive news on earnings and political developments, while selected financial stocks took a beating, brokers said.The All Share Index closed at 2,976.93 points down 0.23 points while the Milanka Index of more liquid stocks closed down 0.34 percent (11.30 points) […]
Sri Lanka to import rice to buffer price spikes
Oct 30, 2009 (LBO) – Sri Lanka’s government, which is ideologically committed to domestic rice production, will import 50,000 metric tons of rice as a buffer against an ‘artificial shortfall’, a senior minister said. But analysts say because prices are kept high and fertilizer is subsidized through heavy government interventions, farmers have no incentive to […]
No Accounts
Oct 30, 2009 (LBO) – Two directors of Alufab Limited, a Colombo listed company has been charged for not filing annual accounts since 2004, Sri Lanka’s Securities and Exchange Commission said.The firm had also been placed in the default board of the Colombo Stock Exchange for not filing accounts.SEC said charges had been filed in […]
India inflation accelerates, paving way for rate hikes
NEW DELHI, October 29, 2009 (AFP) – India’s annual inflation rate has picked up pace, official data showed Thursday, setting the stage for higher interest rates in the months ahead.The wholesale inflation rate rose to 1.51 percent in the week to October 17 from 1.21 percent the previous week, according to the Wholesale Price Index, […]