Author: lbostgadmin
Sri Lanka fines cricketer for mid-air antics
COLOMBO, July 18, 2013 (AFP) – Sri Lankan cricket chiefs handed down a fine Thursday of nearly ,000 to a batsman who tried to force open a cabin door of a British Airways flight at 35,000 feet (10,600 metres).Sri Lanka Cricket (SLC) said Ramith Rambukwella had been fined 50 percent of his tour fees after […]
Krrish denies Sri Lanka allegations, says investor confidence shaken
July 18, 2013 (LBO) – India’s Krrish group which is involved a property project in Sri Lanka has denied wrongdoing and said recent media reports had shaken the confidence of investors it was in talks with. Katyal thanked official who advised and supported the group’s entry and asked those raising concerns to “understand the correct […]
‘s northern agri-biz fair set to go
July 18, 2013 (LBO) – An agri business fair in Killinochchi, a former war zone in the northern Sri Lanka is ready to open on July 26 with all stalls filled, its organizers said.The event has been supported backed by the Governor of the Northern Province, the military and state officials, the organizers said. The […]
Ranking
July 18, 2013 (LBO) – Sri Lanka’s state-run Bank of Ceylon said it had been ranked as one of the 1,000 top banks in the world by UK-based The Banker Magazine, ahead of other domestic banks. Bank of Ceylon has over 10 million customers and is the largest commercial bank by assets in Sri Lanka. […]
Micro Oversight
July 18, 2013 (LBO) – Sri Lanka will begin regulating micro financing institutions with large entities coming directly under the central bank information minister Keheliya Rambukwelle said.A third category coming under the Commissioner of Co-operative Development and Registrar of Co-operative Societies, Divineguma Department will be exempted from Central Bank regulations. They will come under existing […]
Port Road
July 18, 2013 (LBO) – A 260 million dollar circular highway around Sri Lanka’s Northeastern port city of Trincomalee will be built by a Chinese contractor with financing from the Industrial and Commercial Bank of China, a minister said.Information minister Keheliya Rambukwelle said the cabinet of ministers had awarded the building contract to Hunan Road […]
Sri Lanka bets on high-end casinos to boost economy
COLOMBO, July 17, 2013 (AFP) – Multi-million-dollar casinos planned for Colombo have boosted Sri Lanka’s ambitious hopes of becoming Asia’s new gambling hotspot, but the projects still face political and religious opposition. “In the alcohol and tobacco industries, we have a good idea of how much is produced, what the sales are and more importantly […]
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WASHINGTON, July 17, 2013 (AFP) – US Federal Reserve Chairman Ben Bernanke reiterated Wednesday that the Fed stimulus could be wound up next year if economic growth remains steady as forecast.The surge in rates, economists worry, could itself slow the recovery by slowing demand in the recovering housing sector, which has become a key contributor […]
Sri Lanka mulls scrapping cricket T20 league
July 17, 2013 (AFP) – Sri Lanka’s cricket authorities will decide later Wednesday whether to scrap their Twenty20 league after all franchise holders defaulted on payments for the tournament, officials said.He said the franchise holders had also failed to come up with bank guarantees to underwrite match fees for players.Sri Lanka played its inaugural Twenty20 […]
Sri Lanka cement demand to pick up: Tokyo Cement
July 17, 2013 (LBO) – Sri Lanka’s Tokyo Cement said demand is expected to recover from a contraction in the first quarter of 2013 and medium term growth is estimated at 10 percent a year.Tokyo Cement, a joint venture with Japan’s Nippon Coke and Engineering Company Ltd, operates grinding plants in Trincomalee port in northeastern […]
Krrish given more time to pay for Sri Lanka land: report
July 17, 2013 (LBO) – Sri Lanka has given another extension to pay for state land in the capital Colombo for a proposed real estate project by India’s Krrish group, a media report said. Sri Lanka’s The Island newspaper said the firm had been given till July 31 to pay up the balance due for […]
‘s Piramal Glass unit sells more land
July 17, 2013 (LBO) – Sri Lanka’s Piramal Glass Ceylon Plc, a unit of India’s Piramal group said it was selling a second tranche of its former factory premises in a Colombo suburb for 415 million rupees.The company said in a stock exchange filing that the land had been sold to Ideal Motors (Pvt) Ltd. […]