Author: lbostgadmin
Speed Bump
Sep 05, 2011 (LBO) – The long-delayed opening of Sri Lanka’s first expressway will be delayed further although construction of the road is over because toll booths and fuel stations are still being built, an official said. The opening of the first section of the southern expressway that was to have been in September has […]
Sri Lanka stocks end up 0.8-pct
Sep 05, 2011 (LBO) – Sri Lankan stocks closed higher Monday with interest in a motor vehicle import and in non-voting shares of a jewellery exporter, brokers said. The main All Share Price Index closed at 7,007.68, up 0.82 percent (57.07 points) while the more liquid Milanka index rose 0. 69 percent (43.27 points) to […]
Sri Lanka dollar peg breaks Rs110 level
Sept 05, 2011 (LBO) – Sri Lanka’s peg to the US dollar weakened 10 cents to 110. 10 Monday with the spot dollar being quoted around 110. 09/110.10 rupees as the currency continued to be under pressure, dealers said. Analysts say there could also be a ‘supply shock’ to the system in the form of […]
Sri Lanka graduates take aim for fresh tax grab
Sep 04, 2011 (LBO) – Graduates from Sri Lanka’s state universities are taking aim for a fresh tax grab by getting lifetime salaries as state workers, having already received a ‘free’ tertiary education from peoples’ tax money. The Island newspaper said a group calling itself the Combined Association of University Graduates (CAUG) charged rulers of […]
Harris stars as Sri Lanka lose first Test
GALLE, September 3, 2011 (AFP) – Fast bowler Ryan Harris claimed five wickets as Australia beat a valiant Sri Lanka by 125 runs in the first Test on Saturday to take the lead in the three-match series. Sri Lanka, who resumed the fourth day at 120-5 chasing an improbable victory target of 379, were dismissed […]
” after US raid
WASHINGTON, September 2, 2011 (AFP) – Gibson Guitar Corp. renewed its plea of innocence on Friday after US agents raided its Tennessee plants and seized rare ebony wood from India used to make some of the world’s most coveted guitars. “We were not engaged in smuggling,” chief executive Henry Juszkiewicz told CNN television. “We have […]
Malaysia seizes 1,000 elephant tusks: reports
KUALA LUMPUR, September 3, 2011 (AFP) – Malaysia has seized more than 1,000 African elephant tusks in two separate shipments in the past two months, reports said Saturday. The wildlife watchdog says that the illegal ivory trade has been rising globally since 2004 largely due to increasing demand in China, where ivory is often ground […]
Sri Lanka launches Ceylon cinnamon brand to promote exports
Sep 03, 2011 (LBO) – Sri Lanka has launched a brand for cinnamon, its main spice export, aiming to build an image like its main export, Ceylon tea, and exploit growing awareness of its health benefits. The ‘Pure Ceylon cinnamon’ brand will be registered in key markets in North America and Europe, said Janaka Ratnayake, […]
Sri Lanka businesses warn against economic sanctions
Sep 02, 2011 (LBO) – Sri Lanka’s large trade have criticized a report by a UN panel alleging human rights abuses in a civil war that ended in 2009, and warned against international economic sanctions. The panel called for probes in to allegations of war crimes by both sides of the conflict in the latter […]
‘s Peugeot upbeat about return to India
MUMBAI, September 1, 2011 (AFP) – French auto giant PSA Peugeot Citroen on Thursday signalled its return to India, announcing a new assembly plant in the west of the country as part of wider plans to sell more cars outside Europe. Europe’s second-largest car maker said it had signed a deal with the state government […]
Port Premium
Sep 02, 2011 (LBO) – The state-run Sri Lanka Ports Authority (SLPA) is to provide medical insurance for its employees with the cost borne by the authority which is hugely overstaffed and lost money last year. The SLPA has signed a deal with the National Insurance Trust Fund (NITF) to provide a “comprehensive Medical Insurance […]
Sri Lanka stocks stagnant
Sep 02, 2011 (LBO) – Sri Lanka’s stock market remained stagnant Friday after two big deals sent indices and turnover up sharply Thursday, brokers said. The main All Share Price Index closed at 6,950.61, down 0.01 percent (0.89 points) while the more liquid Milanka index fell 0.07 percent (4.64 points) to close at 6,297.12, according […]