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Sri Lanka Carsons readies for palm oil price correction
May 26, 2008 (LBO) – Sri Lanka’s Carson Cumberbatch group said efficiency improvements and expanded cultivation in its oil palm estates in south-east Asia should help it remain competitive when prices fall off current record highs. The palm oil industry had a good year with prices at record levels owing to strong demand, mainly because […]
Tele Trends
May 26, 2008 (LBO) – Sri Lanka Telecom, the island’s top fixed line-operator, March quarter group net profit fell 16 percent to 1,663 million rupees from a year ago as a tariff cut and rising costs took their toll.Sri Lanka Telecom’s full-year group profits for 2007 were up four percent at 5.6 billion rupees. According […]
Seven dead, scores hurt in Sri Lanka train bombing: military
May 26, 2008 (AFP) – At least seven people were killed and scores more wounded Monday in the bombing of a packed commuter train in the suburbs of the Sri Lankan capital by suspected Tamil rebels, officials said.The island’s military spokesman, Brigadier Udaya Nanayakkara, said seven people, including a pregnant woman, were killed and another […]
Sri Lanka apparel exporter, UNESCO educate kids on sustainable development
May 26, 2008 (LBO) – Sri Lanka’s MAS Holdings, a big apparel exporter, has partnered with UNESCO Bangkok to educate school children on sustainable development, a company statement said. The MAS ‘Eco Go Beyond’ programme, started in May 2006, provides 11,260 Sri Lankan students theoretical and practical knowledge of sustainable development. According to MAS, students […]
Toyota, Hino to help develop road-rail vehicle: spokesman
TOKYO, May 26, 2008 (AFP) – Japan’s Toyota Motor Corp.and its truck-making affiliate have joined a project to develop an environmentally friendly vehicle capable of moving both on roads and railways, an official said Monday. Toyota and affiliate Hino Motors Ltd.will take part in the development of a new model of a road-rail vehicle originally […]
Kenya hit by nationwide power outage, sparking panic
NAIROBI, May 25, 2008 (AFP) – A nationwide power outage hit Kenya on Sunday as a result of a transmission fault from its hydro-electric plants, officials said, sparking panic in the east African nation. The hydro-electric plants’ owners, official power generator KenGen, produces about 80 percent of electricity consumed in the country, using hydro, geothermal, […]
Sri Lanka train blast kills seven, scores injured
May 26, 2008 (LBO) – A blast ripped through a train in a suburb of Sri Lanka’s capital Colombo during the evening rush hour, killing at least seven and injuring 62, the security media centre said. Military spokesman Udaya Nanayakkara said the blast went off near the Dehiwela station south of the capital. An official […]
Sri Lanka train blast near capital
May 26, 2008 (LBO) – A blast ripped through a train in a suburb of Sri Lanka’s capital Colombo during the evening rush hour, police said. Updated For updates on this story go to www.lbo.lk front page or www. For updates in Sinhala go to www.vimasuma.com Police spokesman Ranjith Gunesekera said a number of passengers […]
Targeting Exercise
May 26, 2008 (LBO) – Sri Lanka is developing a scheme to pay fuel subsidies to bus operators that may cost the exchequer 7.0 billion rupees a year, officials said, after a steep rise in diesel pushed up fares. Sri Lanka has a practice of under-pricing diesel because authorities believe that inflation is a petroleum […]
Sri Lanka minister threatens mandated wage hike
May 26, 2008 (LBO) – Sri Lanka’s labour minister threatened to mandate a private sector wage hike the same day the island’s monetary authority said it was trying to contain ‘second round’ effects on inflation. The minister of labour, Athauda Seneviratne told our sister site vimasuma.com that the government had decided the private sector should […]