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UN chief slams rebel shelling in Sri Lanka
UNITED NATIONS, Feb 27, 2007 (AFP) – UN chief Ban Ki-moon on Tuesday condemned a Tamil rebel artillery attack in Sri Lanka that injured several foreign diplomats, including a UN official, taking part in a humanitarian assessment mission.“The secretary general condemns the shelling” by the Liberation Tigers of Tamil Eelam (LTTE) in Batticaloa district, “which […]
Sri Lanka point-to-point inflation eases, but still at 10-year highs
February, 28 (LBO) – Consumer prices in Sri Lanka’s capital Colombo fell 1.3 percent in the month of February easing 12-month inflation to 19.2 percent from 20.5 percent a month ago, the government statistics office said. The Colombo Consumer Price Index, the most widely watched index in the country, fell to 5116 points from 5184 […]
Tax Woes
February 27 (LBO) – Seylan Bank’s group net profits rose 9.25 percent to 849.2 million rupees in 2006, as revenues climbed by 32.3 percent, its annual accounts released Tuesday showed. Group revenue climbed to 15.39 billion rupees while the bank on its own earned revenues of 14.1 billion rupees. High income tax payments and flat […]
Leasing Move
February 27 (LBO) – Sri Lanka’s pioneer leasing firm LOLC, is stepping into Cambodia taking an equity stake in a micro-finance firm with several international development lenders, an official said. “Cambodia is just blossoming out and opportunities are good,” Kithsiri Gunawardene told Lanka Business Online. “They run a lean operation there and repayments are very […]
‘s rubber trade slams government over misuse of industry funds
February 27 (LBO) – Sri Lanka’s rubber trade has cried foul at government moves to deny them cash collected from the sector for its own development, less than a month after tea traders protested the misuse of an industry fund.The Ceylon Rubber Traders Association (CRTA) said Tuesday that the industry had been officially informed that […]
Legal Upgrade
February 27 (LBO) – Sri Lanka will allow hearing of appeal cases to be decentralized to its provincial courts, to clear a ten-year backlog of cases, officials said Monday. There is a backlog of appeal cases from 1995, with Sri Lanka having only three courts in its court of appeal to handle all cases that […]
Dodgy Practice
February 27 (LBO) – Sri Lanka’s accounting watchdog said Tuesday it would take action against Touchwood over its accounting practices and would also probe the listed forestry investment firm’s auditor. The firm was audited by KPMG. The Colombo Stock Exchange referred the company to the Sri Lanka Accounting and Auditing Standards Monitoring Board (SLAASMB) when […]
Soft Sell
February, 27 (LBO) – Advocates of free and open source software (FOSS) are promoting the concept through a mobile campaign across Sri Lanka starting next month, organizers said Tuesday. ‘Foss-Ed on Wheels’ a special bus had traveled nearly 500 to Mahavilachchiya in the north central province and Buttala in the Southern province last year, teaching […]
”’ touch to Brandix apparel park in India
February 27 (LBO) – A 15-million dollar logistics centre which will speed up the flow of raw material and finished products at Bradix’s industrial park in India, would make the park more attractive to manufacturing units, officials said. Brandix is also building a 200 acre industrial park in Sri Lanka at Horana. The firm says […]
” Tigers attack
BEIJING, Feb 27, 2007 (AFP) – Sri Lanka’s foreign minister condemned an artillery attack Tuesday by Tamil Tiger rebels that wounded the German, Italian and US ambassadors, saying it was a deliberate strike against the diplomats.“The government of Sri Lanka condemns this attack by the LTTE in the strongest terms,” Rohitha Bogollagama, who is accompanying […]