Author: lbostgadmin
Sri Lanka stocks down 1.07-pct
Oct 18, 2011 (LBO) – Sri Lanka stocks extended losses Tuesday closing 1.07 percent lower on the back of a 1.4 percent retreat Monday amid weak buying support, brokers said. The benchmark Colombo All Share Index lost 68.99 points to close at 6,389.52 and the Milanka Index of liquid stocks fell 1.36 percent (79.09 points) […]
Protesters camp in London, Frankfurt after clashes
LONDON, October 16, 2011 (AFP) – Hundreds of protesters camped out in London, Frankfurt and Amsterdam on Sunday, with some vowing to settle in for the long term as part of their campaign against corporate greed and budget cuts. The three camps, each of them in the heart of the cities’ financial districts, sprang up […]
Anti-capitalist protests spread as predicted by Austrian school
Oct 17, 2011 (LBO) – Anti-capitalist protests have spread to several European capitals from the US, with protestors converging on financial districts, in a text book style consequence of excessive state interference, long predicted by Austrian economists. The US in particular is suffering from the collapse of a massive credit expansion fired by easy money […]
‘s Reliance halts future oil and gas drilling
MUMBAI, October 17, 2011 (AFP) – India’s energy giant Reliance Industries has suspended drilling at its oil and gas exploration blocks covered under a deal with new venture partner BP pending a review, a company source said on Monday. India’s largest private oil explorer is “re-evaluating” its exploration and production strategy in partnership with the […]
Aussie Status
SYDNEY, October 17, 2011 (AFP) – Australian police were Monday examining a war crimes dossier alleging Sri Lankan authorities bombed and shelled civilians during the country’s civil war, which ended in 2009. Prepared by the International Commission of Jurists’ Australian chapter, the brief contains testimony from Sri Lankans now living in Australia that they were […]
Bus Bar
Oct 17, 2011 (LBO) – Sri Lanka’s first expressway which is to be opened in November will be closed for passenger buses, highways minister Nirmala Kothelawala said. The expressway runs from Colombo to Galle. It is Sri Lanka’s first toll road. The road is expected to be opened for traffic in November, the minister said. […]
Sri Lanka stocks slump 1.4-pct
Oct 17, 2011 (LBO) – Sri Lanka’s stocks slumped 1.4 percent Monday with several illiquid stocks that were punted up falling steeply while liquid stocks also suffered losses, brokers said. In forex markets the spot dollar traded at 110. 20/choice dealer said. The central bank had a repo auction to withdraw 30 billion in excess […]
Indian Ocean sea level rise; contrary research heard in India: report
Oct 16, 2011 (LBO) – A researcher who is questioning claims and forecasts on sea level rises connected to man made climate change, has got a hearing in India at a conference, a media report said. said Nils-Axel Morner, a Swedish academic had disputed claims of Indian Ocean sea level increases. Morner is a key […]
Port Billing
Oct 16, 2011 (LBO) – The Sri Lanka Ports Authority aims to have a long-delayed online billing system ready by January 2012 with the customs already ready with an electronic payment portal having done test runs. He requested the trade to use parts of the system which were now operational such as filing ‘CusDec’ or […]
Sri Lanka and Vietnam to open trade; aim for billion dollar target
Oct 15, 2011 (LBO) – Sri Lanka and Vietnam will begin talks on trade liberalization aiming to expand two way trade over 10 fold to a billion US dollars over the next few years, a joint communiqué following visit by President Truong Tan Sang said. Vietnam also sells textiles for Sri Lanka’s apparel trade. No […]
Sri Lanka electricity no longer highest in region: analyst
Oct 15, 2011 (LBO) – Sri Lanka’s power tariffs are no longer the highest in the region for manufacturing, though it was most expensive for larger households, even topping Singapore, an analyst has said. Exorbitant prices were also paid by some service sector customers. “We are the highest in the region for household using lots […]
” development nears kick off: official
Oct 14, 2011 (LBO) – Work on a ‘linear park’ for recreation and night life bordering Beira Lake in Sri Lanka’s capital Colombo will begin early in 2012, a senior urban development official said. Its own building which was housed in the area would be made available for development as a 12-acre block after shifting […]