All Blogs
Sri Lanka accuses IMF of playing politics
WASHINGTON, June 27, 2009 (AFP) – Sri Lanka on Friday accused the International Monetary Fund of politicizing financial aid following the fund’s delay in considering a 1.9-billion-dollar bailout for the war-ravaged economy. “Never ever has the IMF taken political factors into account. Now, it seems for the first time they are doing that — indirectly,” […]
Sri Lankan shares down 0.2-pct during week
June 26, 2009 (LBO) – Sri Lankan stocks recovered on Friday, pushed up by retail investors who targeted blue chips and midcap shares, while foreign investors were net sellers during the week, brokers said. The benchmark Colombo All Share Price Index closed up 1.16 percent (28.03 points) to end at 2,447.04 Friday while the Milanka […]
Indian Trade
June 26, 2009 (LBO) – A contract to build a new container terminal in Sri Lanka’s Colombo port, despite delays, will be awarded before the year-end, and the facility will be assured of cargo given Indian growth, a senior official said.Sri Lanka Ports Authority chairman Priyath Bandu Wickrama said that although India had begun expanding […]
Public Bail
June 26, 2009 (LBO) – Sri Lanka’s Seylan Bank will be bailed out with the help of money from state institutions while a bid from a private investor was rejected because it did not meet ownership limits, the Central Bank said. There will be no change in the board. Seylan will also continue its link […]
Sri Lanka drafts new rules for marine tourism
June 26, 2009 (LBO) – Sri Lanka is drafting new rules to protect the marine environment with tourist ventures such as whale and dolphin watching expected to become big business with the end of the war, a senior official said.Michael noted how unregulated tourism had spoilt some of the island’s best beaches such as in […]
Software Support
June 26, 2009 (LBO) – A microfinance software application developed by two Sri Lankan university students has been selected as one of the six finalists to compete in the ‘MashUP’ category at a world information technology competition.The MashUp application ‘Hope for poor – Sasrutha’ developed by the University of Moratuwa students will help both parties […]
Indian forces get chilli bombs for crowd control
NEW DELHI, June 26, 2009 (AFP) – Indian soldiers will hurl hand grenades containing red chilli powder to dispel rioters instead of the potentially lethal explosives currently used, an official said Friday.Paramilitary forces have been known to break up protests and conduct counter-insurgency operations using explosives that can cause serious injury and even death. “The […]
Maldives planning US150mn bunker, crude terminal
June 26, 2009 (LBO) – The Indian Ocean archipelago of Maldive Islands is planning a 150 million US dollar crude and bunker facility that can store six million cubic feet of oil, which will be leased to global fuel oil traders, a media report said. The Maldives National Oil Company (MNOC) is considering five possible […]
Sri Lanka Insurance Corp gets new board
June 26, 2009 (LBO) – Sri Lanka’s Supreme Court has approved eight people drawn from the private and public sectors as directors of Sri Lanka Insurance Corporation which it recently ordered returned to state ownership.Lawyers said the eight directors named by court are Pradeepa Kariawasam, Anura Meddegoda, R A Jayatissa, Chithral Amaratunga, Nalaka Godahewa, Ravi […]
Sri Lanka arrests astrologer for gloomy predictions
June 26, 2009 (AFP) – Sri Lankan police say they have arrested an astrologer after he predicted serious political and economic problems for the government of President Mahinda Rajapakse.Chandrasiri Bandara, who writes an astrology column for a pro-opposition weekly, was taken in on Thursday, police spokesman Ranjith Gunasekara said. “The CID (Criminal Investigations Department) is […]