Author: lbostgadmin
Sri Lanka expropriation law slammed in newspaper poll
Nov 13, 2011 (LBO) – An overwhelming 98.4 percent of respondents in a newspaper poll found fault with a law to selectively expropriate some three dozen firms which lawyers said was deeply flawed and trespassed on a constitutional separation of powers. The newspapers a respondent labelled chamber chiefs a set of “spineless leaders, lolling in […]
Sri Lanka struggling to revive 23 busted state firms: report
Nov 14, 2011 (LBO) – Sri Lanka is struggling to revive 23 troubled state enterprises, with salaries being paid with people’s tax money and hundreds of million rupees more to be paid as voluntary retirement compensation, a media report said. Other troubled state firms awaiting revival included Lanka Mineral Sands; Lanka Phosphate Ltd; Paranthan Chemical […]
‘s Atapattu praises Pakistan, Misbah
DUBAI, November 13, 2011 (AFP) – Sri Lankan batting coach Marvan Atapattu on Sunday praised the Pakistan team as one of the best in the recent past and likened their captain Misbah-ul Haq to his country’s former skipper Arjuna Ranatunga. Atapattu’s praise came after Sri Lanka were thrashed by eight wickets in the first one-day […]
India warns against protectionism in debt fallout
MUMBAI, November 13, 2011 (AFP) – India warned on Sunday against protectionism as the world grapples with the sovereign debt crisis, portraying itself as a relative haven of stability in troubled economic times. Commerce minister Anand Sharma said India was an influential emerging economy and that the country “will be part of the stabilisation process […]
Sri Lanka spice theft seen as organized crime
Nov 12, 2011 (LBO) – Theft on spice plantations in Sri Lanka has become a major problem and amounts to ‘organised robbery’, Sarada de Silva, head of a Sri Lankan grouping representing the spice industry said. One plantation company which had nurtured a large extent of cinnamon, the island’s main spice, found their first crop […]
Sri Lanka could cooperate more with South Asia on tax: experts
Nov 13, 2011 (LBO) – Sri Lankan tax authorities should cooperate more with South Asian counterparts to be more vigilant of tax evasion by cross-border enterprises, international experts said in Colombo. “African national tax administrators have been cooperating on technical professional issues over quite a few years,” Allen Kagina, commissioner general of the Uganda Revenue […]
‘s Gold Coast named 2018 host
SYDNEY, November 12, 2011 (AFP) – Australia was celebrating Saturday as the Commonwealth Games Federation picked Queensland’s Gold Coast to host the 2018 Games over Sri Lanka’s Hambantota. “See you in Gold Coast in 2018!!!” the federation said on Twitter, following a vote of its general assembly in the Caribbean nation of St Kitts and […]
South Asia vows to boost trade as tensions ease
ADDU, November 11, 2011 (AFP) – South Asian leaders ended a summit in the Maldives Friday with pledges to increase regional trade as arch rivals India and Pakistan demonstrated signs of easing tensions between them. The US, which is an observer of SAARC, welcomed the easing of Indo-Pakistan tensions and said increasing trade and economic […]
Sri Lanka BOI deletes page promising freedom from expropriation
Nov 11, 2011 (LBO) – Sri Lanka’s Board of Investment, the state investment promotion agency, has deleted a page which ‘guaranteed’ investors freedom from expropriation, raising questions of heightened political risk, lawmakers said. Sri Lanka passed a law to expropriate assets of 37 businesses, in several of which foreign investors were involved, after rushing it […]
‘s Malinga holds key in one-day series
DUBAI, November 10, 2011 (AFP) – Rival captains Misbah-ul Haq and Tillakaratne Dilshan agreed sling-action paceman Lasith Malinga could make the difference when Pakistan and Sri Lanka play their first one-day international here on Friday. The 28-year-old fast bowler, who bowls with a round-arm action is fresh from his exploits in last month’s Champions League […]
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ADDU, November 10, 2011 (AFP) – The prime ministers of India and Pakistan said Thursday they expected to open a “new chapter” at future talks between the rival nations after they met at a regional summit in the Maldives. India’s Manmohan Singh and his Pakistani counterpart Yousuf Raza Gilani said their often strained ties were […]
China seeks greater role in SAARC
ADDU, November 11, 2011 (AFP) – China is seeking an active role in the eight-member South Asian Association for Regional Cooperation, an official said Friday, in a move likely to be resisted by India. India would likely be suspicious of any greater Chinese role. New Delhi has watched with anxiety as Beijing has forged ties […]