Author: lbostgadmin
‘s Tata group to sell $700 flat-pack house
NEW DELHI, July 17, 2011 (AFP) – The Indian company that launched the world’s cheapest car has unveiled its latest product for the fast-growing nation: a flat-pack house that costs just 0 and can be built in a week. The Nano car drew worldwide attention when it was launched in 2009, but sales figures have […]
Shipping Loss
July 17, 2011 (LBO) – Sri Lanka’s state-run Ceylon Shipping Corporation’s losses rose 64 percent to 57.1 million rupees in the 2009/201 financial year, while revenues continued to fall, a finance ministry report said. Revenues had fallen 45 percent to 485 million rupees. The report said the firm lacked capital to expand operations and was […]
No Distractions
July 17, 2011 (LBO) – Sri Lanka’s first expressway which is due to open later this month will have curbs on advertising to prevent drivers from being distracted, Road Development Authority chief R W Pemasiri said. “No construction will be permitted within 500 metres of expressway, without permission from the RDA,” Pemasiri said. “No advertising […]
Sri Lanka urged by India to probe war crimes claims
NEW DELHI, July 15, 2011 (AFP) – India on Friday urged Sri Lanka to examine claims made in a British documentary that said it targeted civilians while crushing Tamil Tiger rebels two years ago. The Channel 4 documentary, “Sri Lanka’s Killing Fields” aired last month on British television contained footage of what it said were […]
Sri Lanka apparel maker to invest US14mn in Bangladesh unit
July 16, 2011 (LBO) – Sri Lanka’s Brandix apparel group, will invest 14 million US dollars in a garment manufacturing unit in Bangladesh’s Comilla export processing zone, a media report said. It has also invested in India, where the group runs a 1,000 acre industrial estate, Brandix India Apparel City in Visakhapatnam in the eastern […]
Lawlessness
July 16, 2011 (LBO) – Sri Lanka’s lawlessness and injustice was systematically engineered by the best legal minds in the country over a long period and the island’s minority are not the only victims, a lawyer who has also spoken out against judicial autocracy has said. Kishali Pinto- Jayawardena, lawyer and author, addressing a meeting […]
Branching Out
July 16, 2011 (LBO) – Union Bank of Colombo (UBC) and foreign investment fund ShoreCap II will buy Sri Lanka’s The Finance and Guarantee Company (TF&G), investing 1.1 billion rupees to revive the finance firm. Union Bank chairman Aijta de Zoysa said in a statement the acquisition is part of Union Bank’s diversification and expansion […]
Sri Lanka cricket team attack accused on bail
LAHORE, July 14, 2011 (AFP) – Pakistan on Thursday released on bail the leader of one of its leading extremist organisations who is accused of sectarian murders and masterminding an attack on the Sri Lankan cricket team. Malik Ishaq, head of Lashkar-e-Jhangvi (LJ) and held for nearly 14 years, was cheered by more than 100 […]
Chinese become biggest holidaymakers in Maldives
July 13, 2011 (AFP) – Visit the Maldives and there’s a high chance the fellow holidaymakers at your island retreat will be from China, according to new figures that show the Asian giant as the biggest source of visitors. “The Chinese don’t want the beach like the Europeans. They want activities, like visiting other islands, […]
Sri Lanka to get Bajaj four-wheeler
NEW DELHI, July 15, 2011 (AFP) – Indian motorbike maker Bajaj has abandoned plans to develop an ultra-low-cost car with France’s Renault and its Japanese partner Nissan, according to a senior executive. The companies announced in 2009 that they hoped to bring a ,500 minicar to market in 2012, but there have been suggestions for […]
Research Chief
July 15, 2011 (LBO) – Lanka Market Research Bureau (Pvt) Ltd (LMRB) said it has appointed Himalee Madurasinghe, former second-in-command and a 14-year veteran at the firm as its chief executive. LMRB started 1981 as the first independent market research consultancy in Sri Lanka. It is affiliated to market research firms, IMRB International and Kantar […]
Sri Lanka, Vietnam to boost agricultural co-operation
HANOI, July 15, 2011 (AsiaPulse) – Vietnam and Sri Lanka have agreed on a number of measures to strengthen bilateral cooperation, especially in agricultural development. During talks between Vietnamese Minister of Agricultural and Rural Development Cao Duc Phat and Sri Lankan Minister of Agriculture Mahianda Yapa Abeywardana in Hanoi on July 13, the two sides […]