Author: lbostgadmin
Rule Making
June 18, 2011 (LBO) – Sri Lanka’s securities regulator has finalized rules to allow exchange traded funds (ETFs) with Indian help, and the final document is expected to be given legal effect within two months, an official said. “Within the next two months, regulations to enable ETFs to be traded in the Colombo Stock Exchange […]
Sri Lanka Aitken Spence plans eastern resort
June 18, 2011 (LBO) – Sri Lanka’s Aitken Spence group, which runs resorts in Maldives, India and Oman is in talks with two international chains to find a joint venture partner to build a 100 million dollar leisure complex in the island’s east coast, an official said. The complex will be made up of two […]
Stranded
MUMBAI, June 17, 2011 (AFP) – Efforts to refloat a stranded cargo ship that ran aground off one of Mumbai’s most popular beaches last weekend failed on Friday, officials said. The MV Wisdom has been stranded at Juhu beach since last Saturday after it slipped its moorings to a tug that was towing it to […]
Sailing Free
CAIRO, June 17, 2011 (AFP) – An Egyptian boat seized with its 22-member crew by pirates off the coast of Somalia in August 2010 has been freed, an Egyptian foreign ministry official said on Friday. Abdel Hakam did not elaborate or give details on the health of the crew — 11 Egyptians, six Indians, four […]
Canada seeks to curb human smuggling
OTTAWA, June 16, 2011 (AFP) – A Canadian minister on Thursday unveiled measures to curb human smuggling, calling it a “despicable crime” that abused country’s “generosity” towards immigrants and refugees. The proposed law is in response to a wave of arrivals in Canada aboard rickety cargo ships that has weakened public support for the country’s […]
Sri Lanka Tamil MPs beaten up by troops: party
June 17, 2011 (AFP) – Sri Lanka’s main minority Tamil political group on Friday accused army troops of assaulting its lawmakers and breaking up a party meeting on the northern peninsula of Jaffna. The Tamil National Alliance (TNA) said troops stormed their venue on Thursday evening and attacked members of parliament and party supporters who […]
England uproot Sri Lanka top order
SOUTHAMPTON, June 16, 2011 (AFP) – Sri Lanka were reduced to 81 for four against England on a rain-marred first day of the third and final Test at the Rose Bowl here on Thursday. Only 38 overs out of a scheduled 90 were possible on the opening day of what was the first Test ever […]
Sri Lanka state-backed insurance plans under funded
June 17, 2011 (LBO) – Two Sri Lankan state-backed insurance schemes for state workers and agriculture have been topped up with taxes extracted from the people, as premium payments were not enough to cover claims, official data showed. ‘Agrahara’ a medical insurance plan for state workers with 650,000 holders had claims of 1,138 million rupees […]
SriLankan Airlines in wage deal with aircraft engineers
June 17, 2011 (LBO) – SriLankan Airlines has signed a long-term collective agreement with its aircraft engineers’ union, giving a pay rise that it said would help maintain worker harmony at a time maintenance business was growing. An airline statement said its engineering business was a key growth sector for the group and also help […]
Sri Lanka offers aircraft for UN peacekeeping
June 17, 2011 (AFP) – Sri Lanka has offered its attack helicopters and transport aircraft for UN peacekeeping operations, two years after the end of the island’s civil war, an air force spokesman said Friday. The Sri Lankan air force was ready to deploy its Ukraine-manufactured Mi-24 helicopter gunships as well as Chinese-made Y-12 fixed-wing […]
Equal Footing
June 17, 2011 (LBO) – Fitch Ratings Lanka has assigned People’s Leasing Company’s (PLC) proposed senior debentures of up to 750 million rupees a National Long-Term rating of ‘A(lka)’. “The issue is rated at the same level as PLC’s National Long-Term rating of ‘A(lka)’ which has a stable outlook,” the rating agency said in a […]
Travel Cost
June 17, 2011 (LBO) – Sri Lanka’s government is to allow private bus operators to raise fares, private transport services minister C B Ratnayake said. Government authorities were making preparations for the fare hike, he told a forum on transport, without saying by how much fares would rise. “We are preparing a revision of bus […]