Author: lbostgadmin
Sri Lanka US$400mn lakefront mall by India group
Aug 11, 2011 (LBO) – Indocean Developers (Pvt) Ltd, a firm backed by an Indian property group, will build a 400 million US dollar shopping and residential complex in a prime lakefront in Sri Lanka’s capital Colombo, officials said. Janaka Kurukulasuriya, chairman of Sri Lanka’s Urban Development Authority said the Indian promoters had paid 23 […]
Sri Lanka urban agency plans Colombo JV development
Aug 11, 2011 (LBO) – Sri Lanka’s Urban Development Authority will call proposals for a joint venture commercial development in a nine acre state land in the capital Colombo, chairman Janaka Kurukulasuriya said. “We need the money urgently but we also need money in the long term to sustain,” he said. The agency has more […]
Sentencing Plea
Aug 11, 2011 (LBO) – Lawyers for Raj Rajaratnam, a Sri Lanka born fund manager convicted of insider trading, said he should be dealt leniently because of his failing health, the state exaggerated his crimes and his good deeds. US prosecutors had demand a maximum sentence of 24.5 years and described him as the ‘modern […]
Death Sentence
NEW DELHI, August 11, 2011 (AFP) – India’s president has rejected mercy pleas from three men convicted of the 1991 assassination of then prime minister Rajiv Gandhi, paving the way for their execution, an official told AFP on Thursday. “The rejection (of the clemency petitions) happened last week after the president returned from a foreign […]
Lawlessness
Aug 11, 2011 (LBO) – Friday Forum, a Sri Lankan citizens group fighting to re-establish rule of law and liberal democracy, has raised fresh concerns about lawlessness in the island’s north after an elderly Tamil journalist was brutally assaulted. A 30-year war in the island’s north and east ended two year ago. Local elections were […]
Sri Lanka tourist arrivals up 32-pct in July
Aug 11, 2011 (LBO) – Sri Lanka’s tourist arrivals rose 32 percent to 63,339 in July 2011 with visitors in the first seven months rising 36 percent to 465,324 data from the tourist promotions office showed. Pakistani arrivals surged 130 percent to 2,040 and visitors from the Maldives rose 38 percent to 3,336. Western European […]
Sri Lanka sells US$166mn floating rate bonds
Aug 11, 2011 (LBO) – Sri Lanka sold 166 million US dollars of bonds based on 6-month London Interbank Offered rate extending tenors up to 5-years mainly targeting resident investors, the government’s debt office said. Called ‘development bonds’ the floating rate debt is sold mostly to domestic banks and investors allowed to have foreign exchange […]
Fed promise to print money sends oil, equities soaring
SINGAPORE, August 10, 2011 (AFP) – Crude futures soared in Asian trade Wednesday, mirroring Asian equities markets encouraged by the US Federal Reserve’s two-year commitment to keep interest rates low, analysts said. Growth was also expected to be at a “somewhat slower pace” over the coming quarters, the Fed’s Open Market Committee added, as “downside […]
Sri Lanka youth invited to attend World Bank annual meet
Aug 10, 2011 (LBO) – The World Bank has called Sri Lankans between the ages of 18 to 25 to apply to attend the lender’s annual sessions in Washington in September as ‘youth delegates’ and also interact with counterparts in the region. The World Bank and the International Monetary Fund are having their annual sessions […]
Indian minister says confidence returns to market
NEW DELHI, August 10, 2011 (AFP) – Confidence has returned to India’s share market after it plunged to a 14-month low on the back of the latest global financial turmoil, the country’s finance minister said Wednesday. India’s benchmark Sensex index of 30 leading shares soared nearly 400 points in early trade as part of a […]
Sri Lanka wildlife groups boycott elephant census
Aug 10, 2011 (LBO) – Sri Lankan conservation groups are boycotting an elephant census, and called on the private sector not to support the effort, after a government minister revealed plans to capture up to 300 calves with tusks for domestication. Agrarian and wildlife minister S M Chandrasena was reported as saying that the survey […]
Sri Lanka Bairaha June net down 47-pct
Aug 10, 2011 (LBO) – Sri Lanka’s Bairaha Farms, a poultry group said net profits fell 47 percent to 55. 1 million rupees in the June 2011 quarter with revenues down 01 percent to 565 million rupees. The firm reported earnings of 3. 45 rupees per share for the quarter. Sri Lanka’s poultry stocks have […]