Author: lbostgadmin
Sri Lanka and Vietnam ink oil deals
Oct 14, 2011 (LBO) – Sri Lanka and Vietnam can expand trade and investment in petroleum, telecoms, agricultural machinery and fisheries, visiting Vietnam President Truong Tan Sang told a business forum in Colombo. Sri Lanka’s state-run Ceylon Petroleum Corporation also signed a deal on diesel trade with PetroVietnam’s Singapore arm. President Sang said bilateral meetings […]
Sri Lanka spending to be upped 15-pct in 2012: preliminary data
Oct 14, 2011 (LBO) – Sri Lanka plans to spend 1,640 billion rupees in capital and current expenditure in 2012 up 15.5 percent from a year earlier, preliminary data released by the finance ministry showed. It leaves the state with a deficit of 525 billion rupees. However government spokesmen had said earlier that in 2012 […]
British defence minister resigns over ties to best man
LONDON, October 14, 2011 (AFP) – British Defence Secretary Liam Fox resigned on Friday, forced out over his links to the best man at his wedding who posed as a government adviser while foreign donors funded his trips with the minister. “I mistakenly allowed the distinction between my personal interest and my government activities to […]
British defence minister denies burglary cover-up
LONDON, October 12, 2011 (AFP) – British defence minister Liam Fox rejected calls to resign Wednesday over his links to the best man at his wedding, while facing fresh trouble over claims of a cover-up over a burglary at his house. Fox has been under pressure for days over his former flatmate Adam Werritty, who […]
‘s political gun culture to be checked
Oct 13, 2011 (LBO) – Sri Lanka’s President Mahinda Rajapaksa said firearms kept by private ‘guards’ of politicians will be recovered in a special operation starting Thursday, in the wake of a deadly clash among rival factions of his party. “A special operation aimed at disarming them has been launched from today by the police […]
British defence minister faces new claims about advisor
LONDON, October 13, 2011 (AFP) – Britain’s defence minister faced renewed pressure Thursday over claims that rich backers paid for the best man at his wedding to travel the globe with him despite not being a government official. Liam Fox again rejected calls to resign over his links to his close friend Adam Werritty, who […]
Sri Lanka to host regional trade forum
Oct 12, 2011 (LBO) – Sri Lanka will host the Asia Pacific Trade Facilitation Forum (APTFF), a platform to promote regional trade and share information, Ceylon Chamber of Commerce said. “South Asia is a region that has many benefits to reap through improved trade facilitation,” the Chamber said in a statement. “This region still remains […]
Sri Lanka freight group expands recycling business
Oct 13, 2011 (LBO) – Sri Lanka’s Expolanka Holdings has expanded and renamed its recycling subsidiary and also intends to venture into recycling electronic waste or ‘e-waste’. Group unit Neptune Papers has been rebranded as Neptune Recyclers and has moved into recycling plastic, polythene and scrap metal in addition to its existing waste paper business, […]
Heavenly Directions
Oct 13, 2011 (LBO) – Sri Lanka’s largest mobile phone operator Dialog Axiata is offering a satellite navigation application tool for mobile phones that can be downloaded from the web. The application will help Dialog Subscribers find direction, plot routes and find places of interest, a statement said. The Dialog SatNav system has voice support […]
Sentence
NEW YORK, October 13, 2011 (AFP) – Disgraced star Wall Street hedge fund manager Raj Rajaratnam was sentenced Thursday to 11 years behind bars in the heaviest US sentence for insider trading, although far below what prosecutors had sought. New York federal Judge Richard Holwell also ordered the Sri Lankan-born founder of the Galleon Group […]
Fresh Lease
Oct 13, 2011 (LBO) – Accelerating post-war growth and surging vehicle imports owing to tax cuts and better incomes will drive Sri Lanka’s leasing and hire purchase market, promoters of People’s Leasing Company’s share issue said. People’s Leasing, Sri Lanka’s largest leasing firm, plans to raise 70 million US dollars in an initial public offer […]
Land Payment
Oct 13, 2011 (LBO) – The Sri Lankan state is getting ready to acquire land and pay compensation in the second phase of the project to build a large deep-water port in Hambantota on the south coast. The extent of the submerged rock was missed during initial surveys and the cost of blasting it has […]