Author: lbostgadmin
Delhi tells bureaucrats to work fast or pay up
NEW DELHI, September 15, 2011 (AFP) – Bureaucrats in the Indian capital New Delhi will have to pay money out of their own pockets from Thursday if applications for driving licences, birth certificates and other paperwork are delayed. City authorities have set up a website to allow people to check the status of their applications, […]
Fun Investment
Sept 15, 2011 (LBO) – Sri Lanka’s Cargills (Ceylon) Plc, which owns the island’s largest retail chain and is part of a group with cinema businesses, plans to build a shopping and entertainment complex in the former northern war zone. “The company is set to invest 500 million rupees in the development of a new […]
Sri Lanka stocks end down 0.7-pct
Sep 15, 2011 (LBO) – Sri Lankan stocks slumped again Thursday with turnover falling further amid continued trading in shares that had drawn speculative, brokers said. The main All Share Price Index fell 0.65 percent (44.68 points) to 6,850.93, while the more liquid Milanka index fell 0. 79 percent (49.16 points) to close at 6,178.49, […]
Sri Lanka to resume cash auctions in money markets: CB Governor
Sept 15, 2011 (LBO) – Sri Lanka’s central bank is ready to start daily cash auctions in money markets Governor Nivard Cabraal said, as dollar sales to maintain a currency peg rapidly sucked rupees out of the banking system. “If liquidity is low and we do not have excess liquidity, we will resume daily auctions,” […]
Sri Lanka investments being mulled by Korea
Sept 14, 2011 (LBO) – South Korean firms like Hyundai and LG are interested in exploring investements in shipbuilding and electronics in Sri Lanka, the island’s ministry of industry and commerce said. The interest of Korean companies was revealed by South Korean ambassador Jongmoon Choi during a courtesy call on the industry and commerce minister […]
Sri Lanka gets Indian aid for English training
Sept 14, 2011 (LBO) – Sri Lanka is to get Indian aid to improve training in English language skills in the island, seen as a critical need especially in the corporate sector, under an agreement signed between the two governments. The deal provides for equipment and teaching aids from India for setting up 30 language […]
‘s growth to slow: ADB
HONG KONG, September 14, 2011 (AFP) – Asia’s developing economies will post slower-than-expected growth this year and next as key trading partners reduce orders due to worries about the global economy, a report said Wednesday. However, the region will continue to see strong expansion as it makes up for lost exports to the developed world […]
US urges Sri Lanka to boost Tamil police
September 14, 2011 (AFP) – The United States on Wednesday urged Sri Lanka to deploy more minority Tamils to police the island’s former northern conflict zone to help “heal the wounds of war”. Tamils in the formerly embattled region feel intimidated by the presence of predominantly Sinhalese-speaking government forces and police, US Assistant Secretary of […]
Sangakkara seeks Sri Lanka win in 100th Test
September 14, 2011 (AFP) – A hugely proud Kumar Sangakkara hopes Sri Lanka will celebrate his 100th Test appearance with a series-levelling victory over Australia in the final match in Colombo from Friday. “It’s a great honour to have represented my country for a period of time, and also a great honour to play 100 […]
Doctor Net
Sept 14, 2011 (LBO) – e-Channelling, a listed Sri Lankan dotcom enabling patients to make appointments with doctors over the internet, is “aggressively” promoting the service outside Colombo after a sharp increase in bookings when it expanded its hospital network. The company said it is also looking to inject about a billion rupees into a […]
Securities Fraud
Sep 14, 2011 (LBO) – Sri Lanka should increase fines for securities fraud because trading volumes and potential for profit is much higher than when the fines were originally set, a lawmaker has said. Harsha de Silva, a member of Sri Lanka’s opposition United National Party, said a 10 million rupee fine charged on Environmental […]
Watchdog Action
Sept 14, 2011 (LBO) – Sri Lanka’s Securities and Exchange Commission said it will take a stock advisor to court and had warned seven others including two investors over suspected price manipulation. An investment would be charged over s suspected trades in shares of MTD Walkers during January 2010 following decision taken on August 19. […]