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‘s east coast holds key polls
TRINCOMALEE, Sri Lanka, May 9, 2008 (AFP) – A heavy security blanket was thrown over eastern Sri Lanka ahead of Saturday’s local polls, seen as a key test for the hawkish government as it escalates the war against Tamil rebels. President Mahinda Rajapakse is hoping the east’s first provincial council elections in 20 years will […]
On Hold
May 09, 2008 (LBO) – Sri Lanka is keeping retail fuel prices at current levels despite crude oil prices soaring to new highs and mounting losses at the state oil retailer, Petroleum minister A H M Fowzie said. The state-owned oil refiner Ceylon Petroleum Corporation (CPC) had run up losses amounting to seven billion rupees […]
Serendipity
May 09, 2008 (LBO) – Sri Lanka is to start searching for oil onshore after the accidental discovery of gas seeping from the ground, government officials said. Petroleum minister A H M Fowzie said Friday the government has received technical support from Egypt to start the initial exploration work. The accidental discovery of signs of […]
Sri Lanka Treasury bill yields plummet
May 08, 2008 (LBO) – Sri Lanka’s benchmark 3-month Treasury bill yields fell sharply by 42 basis points as the government sold 8.6 billion rupees out of 11.0 billion in maturing bills. At Wednesday’s auction 3-month yields fell to 18.09 percent, 6-month yields fell 35 basis points to 18.61 percent while 12-month bills fell 21 […]
Fresh Start
May 08, 2008 (LBO) – The Asian Development Bank has agreed to change conditions on a loan to the Sri Lankan government to build a new deep-water harbour next to Colombo port, dredging on which is already underway, ADB and government officials said. These include Maersk, the world’s biggest shipping line, which has a stake […]
Talent Search
May 08, 2008 (LBO) – Amba Research, an investment research outsourcing firm, says four of its employees won gold medals at the convocation of the University of Colombo. Kushantha Perera won the award for the best student in statistics and best final year Project in Statistics and Sha Razeek won the best student in statistics […]
Britain charges four with helping Sri Lanka Tigers
LONDON, May 8, 2008 (AFP) – British police have charged four men with conspiring to support Sri Lanka’s Tamil Tiger rebels, Scotland Yard said Thursday. The four were arrested under anti-terror laws and are accused of owning computers, radio equipment and high-power magnets for terrorist purposes. They were to appear in court in London later […]
Sri Lankan Airlines appoints chief executive
May 08, 2008 (LBO) – Sri Lankan Airlines has appointed Manoj Gunawardene, the airlines former head of worldwide sales as chief executive, the company said in a statement. Gunawardene has been with the airline for 25 years and 17-years in sales and commercial divisions. He had been regional manager UK, Europe and Americas, from 2005 […]
‘s HNB Assurance March net up 9-pct
May 08, 2008 (LBO) – Sri Lanka’s HNB Assurance Ltd’s March quarter profits increased nine percent to 14.1 million rupees while revenue increased 40 percent with income from other activities doubling during the period, the firm’s un-audited accounts said. HNB Assurance, saw its revenue increase to 378.6 million rupees from 269.7 million, compared to the […]
Sri Lanka Eagle Insurance March quarter profits drop
May 08, 2008 (LBO) – Sri Lanka’s Eagle Insurance group March quarter net profit fell by half although revenue went up, according to the results sent to the Colombo stock exchange. Net profit for the first quarter ended March 31, 2008 fell by 53 percent to 15 million rupees, compared with the same period a […]