Author: lbostgadmin
Detention End
August 31, 2011 (AFP) – About 1,200 alleged Tamil Tiger rebels in Sri Lanka will be released, with the end of emergency rule imposed 28 years ago to deal with the separatist movement, state media said Wednesday. The Daily News quoted Justice Minister Rauf Hakeem as saying that the end of emergency rule, announced by […]
Ferry Orders
Aug 31, 2011 (LBO) – Sri Lanka’s Colombo Dockyard said it has won an order to build two passenger ferries for India’s Laskshadweep island administration, on the wake of an earlier delivery to the same customer. The contract comes a year after delivery of two passenger vessels, Arabian Sea and Lakshadweep Sea, for the Administration […]
Freight Fortunes
Aug 31, 2011 (LBO) – New freight forwarding businesses in east Asia helped improve sales and profits for Sri Lanka’s Expolanka Holdings, which aims to further expand overseas and penetrate emerging markets. The group is looking at expanding by increasing its overseas stations and penetrating developing markets and also buying small and medium-sized freight companies […]
Sri Lanka inflation eases to 7.0-pct
Aug 30, 2011 (LBO) – Inflation in Sri Lanka’s capital Colombo rose 7. 0 percent in August 2011, easing from 7.5 percent in July, the government’s statistics office said. The revised index fell 0.3 percent in the month. The food and non-alcoholic beverages fell 0. 7 percent in the month, and non-food categories fell 0.1 […]
Aussies, Sri Lanka set for tough Test battle
GALLE, August 29, 2011 (AFP) – Rival captains Michael Clarke and Tillakaratne Dilshan will look to lead their young teams from the front when Australia and Sri Lanka begin their three-Test series on Wednesday. Dilshan will miss the experience of prolific off-spinner Muttiah Muralitharan, Test cricket’s leading bowler with 800 wickets, who retired from the […]
India proposes to allow more private banks
MUMBAI, August 29, 2011 (AFP) – India’s central bank on Monday outlined proposals to allow more private players in the banking sector to foster greater competition and widen the availability of banking services. India’s state-run banks dominate the sector and inefficient practices and bloated workforces have brought calls for more private sector capital to reinvigorate […]
‘s killers
CHENNAI, August 30, 2011 (AFP) – Judges in Chennai on Tuesday delayed by two months the execution of three men convicted of the 1991 assassination of former Indian prime minister Rajiv Gandhi. The three men were due to be hanged on September 9 at a jail in the southern state of Tamil Nadu after India’s […]
Compounded
Aug 30, 2011 (LBO) – Sri Lanka’s securities watchdog has fined Environmental Resources Inc and several officers, over a disclosure related offence, market sources said. Sri Lanka’s Securities and Exchange Commission earlier sent the firm a notice of action, over a disclosure related matter. Under Sri Lanka’s securities law, a person charged with securities fraud […]
Radiation Warning
Aug 30, 2011 (LBO) – Sri Lanka’s power ministry has warned the public against using unlicensed x-ray machines saying they could expose patients to excessive radiation that could affect their health. Patients using unlicensed machines may not be able to get correct x-ray images and may expose themselves to unnecessary doses of radiation when repeating […]
Sri Lanka could boost Indian tourists 6-fold over decade: equities report
Aug 30, 2011 (LBO) – Sri Lanka could attract 750,000 tourists from India over the next decade, or six fold if Sri Lanka can capture just 2. 4 percent of that country’s outbound market, an equities research report said. Even if Sri Lanka maintains its current market share of 1. 4 percent, the island could […]
Sri Lanka Browns to build hotels on tea plantations
Aug 30, 2011 (LBO) – Sri Lanka’s Browns Investments plans to build boutique hotels on two tea estates in the island’s central hills as it diversifies into the rapidly growing tourism industry. The island’s tourism industry has been growing rapidly with a sharp increase in arrivals after the end of the 30-year ethnic war in […]
Vessel Hire
Aug 30, 2011 (LBO) – Sri Lanka’s Mercantile Shipping Company is renegotiating vessel hire fees and trying a profit-share deal after slipping into the red last year when it was forced to reduce charter rates. But the company also managed to reduce loan repayments, has stable cash flows and anticipates a market recovery, chairman A […]