Author: lbostgadmin
Malaysia sovereign fund to invest in India
MUMBAI, (Asia Pulse) – Khazanah Nasional, the sovereign wealth fund of the Malaysian government, plans to invest in sectors like financial services, infrastructure and energy in India in the near future. “We are looking at sectors like financial services, infrastructure and energy for investment in the near future,” Khazanah Nasional executive director Michael Jude Fernandes […]
Finance Growth
Nov 19, 2011 (LBO) – Profits at Sri Lanka’s Vallibel Finance, rose 157 percent to 60.1 million rupees in the September 2011 quarter from a year earlier, helped by strong loan growth and other income, interim accounts showed. Lost loss provisions rose 42 percent to 2.8 million rupees. Other income rose 195 percent to 25. […]
Sri Lanka business chamber urges consistent tax, investor policies
Nov 18, 2011 (LBO) – The Ceylon Chamber of Commerce said it hopes the Sri Lankan government’s forthcoming budget for 2012 would maintain consistency in investor and tax policies. The Chamber last week had called on the government to defer a controversial expropriation law passed by parliament that rating agencies have warned would deter investors […]
Sri Lanka ex-army chief jailed for three years
November 18, 2011 (AFP) – A Sri Lankan High Court sentenced former army chief Sarath Fonseka to three years in jail on Friday after finding him guilty of making a false allegation against the president’s brother. Fonseka, who ran against President Mahinda Rajapakse in 2010 elections, is already serving a 30-month prison term after a […]
” for Aussies as South Africa collapse
JOHANNESBURG, November 17, 2011 (AFP) – Teenage debutant Pat Cummins celebrated a “brilliant day” after Australia sent South Africa tumbling to 266 all out on the first day of the second and final Test at the Wanderers on Thursday. Cummins only took one wicket but generated impressive pace after becoming the second youngest Australian to […]
Sri Lanka eastern villages lit up by China
Nov 18, 2011 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board will light up 268 villages in the former war zones in the island’s East with Chinese funding, a senior minister said. The expansion will cover villages in Batticaloa and Trincomalee which emerged from a 30 year war. The project will have a domestic finance […]
Naughty lemmings upset global warming beliefs
PARIS, November 18, 2011 (AFP) – Really, it’s enough to drive a climate scientist over the edge. In past years, satellite images have shown a perceptible growth in grasses and shrubs in parts of the Arctic, a phenomenon pinned on global warming. But part of the greening could come from lemmings, surprised researchers have found. […]
Sri Lanka based seed bank under SAARC common standard
Nov 18, 2011 (LBO) – A seed bank to be set up in Sri Lanka will operate under common standards to be developed by countries in the South Asian Association for Regional Co-operation (SAARC). Information minister Keheliya Rambukwella said the cabinet of ministers had given approval for the seed bank to be established in Sri […]
Shipping Cycle
Nov 18, 2011 (LBO) – Sri Lanka’s Colombo Dockyard said September 2011 quarter net profit fell 43 percent to 455 million rupees from a year ago as revenue from both ship building and repair came down. Sales of the yard, 51 percent owned by Japan’s Onomichi Dockyard Company, fell 27.7 percent to 3.5 billion rupees […]
Safety Questions
Nov 18, 2011 (LBO) – Sri Lanka’s first expressway has serious flaws that make 100 kilometres an hour travel unsafe, an organisation of transport professionals has warned, questioning whether safety features were compromised in cost cutting. The southern expressway linking the capital Colombo with the south is to be formally opened on November 27 and […]
Cargo Lift
Nov 18, 2011 (LBO) – Container terminals at Colombo port run by state-owned Sri Lanka Ports Authority (SLPA) have received a second batch of new cranes to replace aging equipment, a statement said. Three gantry cranes and eleven rubber tired yard gantry cranes to transfer cargo were delivered this week by Chinese manufacturer ZPMC. They […]
Rail Link
Nov 18, 2011 (LBO) – Sri Lanka has signed a deal with India to restore part of a northern railway line that was damaged during the ethnic war under project funded by soft loans from New Delhi. The agreement between Sri Lanka Railways and the Indian government owned IRCON was for the restoration of the […]