Author: lbostgadmin
Sri Lanka stocks flat, rupee weaker
Jan 15, 2013 (LBO) – Sri Lanka stocks closed flat Tuesday and the rupee weakened on importer demand in late trading, brokers and dealers said. The Colombo All Share Index closed at 5,750.24 points 0.07 percent higher and the S&P SL20 Index closed at 3,134.32 up barely 0.01 percent. Turnover was 727 million rupees. Ceylon […]
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Jan 15, 2013 (LBO) – Sri Lanka’s DSI Holdings, which has market leadership in footwear helped by import protection has been downgraded one level to ‘BBB+(lka)’ with a negative outlook by Fitch. The rating agency said the company’s leverage had remained at levels more in line with ‘BBB+(lka)’ rated firms. The negative outlook indicated that […]
Sri Lanka imports fish from China for canning, more factories ahead: report
Jan 14, 2013 (LBO) – Sri Lanka is to set up another plant to can fish while existing tax protected factories are importing raw fish from China to prevent extinction of some species, a media report said.Sri Lanka’s The Sunday Times newspaper said a new factory was planned with possible Chinese investment in Galle in […]
Game Changer
Jan 13, 2013 (LBO) – Sri Lanka’s ‘Black Friday Impeachment’ of the chief justice will mark a new chapter in illiberal democracy where parliamentary majorities are abused to rob liberties of citizens, a legislator has warned. “The Black Friday impeachment is another shameful day in the history of our country,” opposition legislator Harsha de Silva […]
No Quarter
Jan 13, 2013 (LBO) – Sri Lanka’s Chief Justice Shirani Bandaranayake has not asked for time to remain till April 30 which will be followed by a voluntary retirement, her lawyers said.Referring to a media report on a Sinhalese language weekly that she had asked to remain till April 30 and retire voluntarily after that, […]
Concern
Jan 13, 2013 (LBO) – Commonwealth Secretary-General Kamalesh Sharma has urged Sri Lanka’s ruling administration to “pause” a controversial impeachment of the Chief Justice saying the organization profoundly concerned.“The impeachment of a Chief Justice is a very serious matter.In this particular case, it has called into question aspects of the Constitution of Sri Lanka,” Commonwealth […]
Quit Notice
Jan 13, 2013 (LBO) – Sri Lanka’s President Mahinda Rajapaksa had served a notice on Chief Justice Shirani Bandaranaike to quit her post Sunday, following the passage of an impeachment vote by parliament.The state information office said notice was served on the Chief Justice “informing her of the removal from the post.” The impeachment of […]
Ordered Out
Jan 13, 2013 (AFP) – Sri Lankan President Mahinda Rajapakse on Sunday sacked the chief justice by ratifying a controversial parliamentary vote, defying international calls for restraint and plunging the country into a constitutional crisis. A spokesman for Bandaranayake confirmed that she received the letter sacking her on Sunday, but declined comment.No replacement has been […]
Legal Lacuna
Jan 11, 2013 (LBO) – An illegal impeachment of Sri Lanka’s Chief Justice and the disregard for law by the ruling coalition will discourage investment, an opposition legislator has warned.“Without law how can investors come?” legislator Harsha de Silva from the main opposition United National Party, who is also an economist told reporters ahead of […]
Boycot Call
Jan 11, 2013 (AFP) – Sri Lankan lawyers Friday urged judges to refuse to accept the appointment of a new chief justice ahead of a vote that is expected to see the incumbent impeached by lawmakers.The Lawyers’ Collective in letters to judges said a move by parliament to go ahead with a vote later Friday […]
Condemned
Jan 11, 2013 (LBO) – Britain, has condemned the beheading of a Sri Lankan maid who was sentenced to death in Saudi Arabia for the death of an infant in her care when she was still a minor. Sri Lanka’s foreign ministry said it “deplores” the beheading. Sri Lanka has also recalled the ambassador to […]
US Concern
Jan 11, 2013 (LBO) – The United State embassy in Colombo said it was “deeply concerned” over the impeachment of Chief Justice Shirani Bandaranayake which was conducted defying a court order.Sri Lanka’s parliament in which the ruling coalition has a two thirds majority, voted 155 for and 49 against in a deeply partisan vote to […]