Author: lbostgadmin
Sri Lanka senior opposition figure calls for end to arbitrary rule
July 01, 2012 (LBO) – Karu Jayasuriya, deputy leader of Sri Lanka’s main opposition United National Party has called for an end to arbitrary rule stemming from the current constitution, a report said. “As a member of the UNP, the country’s single largest political party, I believe that the time is right to call upon […]
Sri Lanka dendro power plants may face higher costs: official
July 01, 2012 (LBO) – Dendro power plants in Sri Lanka may be unviable if too many are licensed to operate close to each other because competition may drive up firewood prices to high levels, an industry official has warned. Tokyo Power, a unit of Sri Lanka’s Tokyo Cement group is building a 5 MegaWatt […]
Sri Lanka to keep getting US, GSP trade benefits
June 30, 2012 (LBO) – Sri Lanka will continue to receive preferential trade concessions after ‘noteworthy efforts’ were made by the state to address worker rights issue, US Trade Representative Ron Kirk has said. Sri Lanka gets duty free export rights to 5,000 odd items including tires, activated carbon, rubber gloves, plastic products, and kitchenware […]
Media Policing
June 30, 2012 (LBO) – Sri Lankan police Friday shut down main two opposition websites and arrested nine employees, and the house of its editor has also been raided, media reports said. Some 17 journalists and media employees have been killed in Sri Lanka in the past decade, pro-opposition websites have been blocked and media […]
Shipping Hub
June 30, 2012 (LBO) – Hadi Hamad Al-Hammam group, a Saudi Arabia based firm, will invest 44 million US dollars in Seagulf Shipyard (Pvt) Ltd, a boat repair centre in Sri Lanka’s Galle port, the state investment promotion agency said. “The project will also create employment for marine engineers and maintenance in ship repair and […]
‘s inflation accelerates to 9.3-pct in June
June 29, 2012 (LBO) – Sri Lanka’s consumer prices rose 9. 3 percent in June 2012 from a year earlier, accelerating to a three and a half year high, from 7. 0 percent in May, data from the state statistics office showed. The statistics office said Sri Lanka’s Colombo Consumer Price Index rose 1. 9 […]
Equity Probe
June 29, 2012 (LBO) – Sri Lanka’s main opposition will push for an independent investigation into stock purchases by a state managed fund of private citizens’ retirement money and officials would be also summoned to parliament, a legislator has said. Harsha de Silva, representing the main opposition United National Party said the EPF had bought […]
Sri Lanka bans exports of rice in new state intervention
June 29, 2012 (LBO) – Sri Lanka said it had banned the export of rice amid a drought to ensure that the “country will have adequate rice stock at affordable prices”, in the latest in a series of ad hoc state interventions in agriculture. Sri Lanka only exports small volumes of rice targeting expatriates or […]
Sri Lanka stocks close up 0.20 pct, rupee steady
June 29, 2012 (LBO) – Sri Lankan stocks closed up 0.2 percent on Friday, while the spot US dollar closed at around 133.70/90 in a day of quiet trading, dealers and brokers said. Colombo’s All Share Price Index gained 9.86 points to close at 4965.77, the Milanka index of more liquid stocks shed 2.61 points […]
Sri Lanka to pave more roads with bank credit
June 29, 2012 (LBO) – Sri Lanka will rebuild 332.77 kilometres of roads using domestic contractors with loans taken from commercial banks in the same way more than 600 kilometres of roads were paved earlier, a minister said. Minister Keheliya Rambukwelle said the total cost of the project was not specified as yet, but the […]
Warehouse Land
June 28, 2012 (LBO) – Sri Lanka’s ports agency will lease land to three companies to build warehouses at a new industrial port in Hambantota in the island’s south, minister Keheliya Rambukwelle said. McLarens Holdings Ltd, will invest 4.0 million US dollars on a 2.5 hectare block, Ace Distripartks (Pvt) Ltd, will invest 3. 0 […]
Offshore Support
June 28, 2012 (LBO) – Sri Lankan shipbuilder Colombo Dockyard has launched the hull of a new supply vessel it is building for a Singapore customer supplying the growing global offshore oil and gas industry. Greatship Global Offshore Services is a Singapore incorporated subsidiary of Greatship (India) Limited, part of the Great Eastern Shipping group […]