Author: lbostgadmin
India pushes Sri Lanka on Tamil rights
June 11, 2011 (AFP) – India on Saturday asked Sri Lanka to address the grievances of the island’s Tamil minority two years after the Tamil Tiger separatist rebels were finally defeated, reports said. Three top Indian officials held closed-door talks with President Mahinda Rajapakse during an overnight visit to Sri Lanka and urged a renewed […]
Pension Fracas
June 11, 2011 (LBO) – The International Monetary Fund had “nothing to do” with a controversial ‘pension’ plan for Sri Lanka’s private sector workers involving a third forced savings scheme, an official said. Rulers, a handful of their close associates can get a pension after only five years in office under a law passed by […]
‘s Tharanga
June 8, 2011 (AFP) – The International Cricket Council has initiated action against Sri Lanka’s opening batsman Upul Tharanga after he failed a dope test, the island’s cricket governing body said Wednesday. It said Tharanga had claimed that he was given a steroid by a faith healer in Colombo who also treated other international players. […]
Sri Lanka Mihin Lanka losses mount, assets negative
June 10, 2011 (LBO) – Sri Lanka’s state-run Mihin Lanka, a budget carrier, has lost 5.8 billion rupees since it was started in 2007 and it had a 5.6 billion rupee gap in the balance sheet despite capital injections from people’s tax money, official data shows. According to data the state had injected 2. 7 […]
Sri Lanka Haycarb calls for coconut plantations strategy
June 10, 2011 (LBO) – Sri Lanka’s Haycarb has called for a long-term strategy to expand coconut plantations to ensure raw material availability to make activated carbon and said it is diversifying into wood- and coal-based carbons. Shortages of coconut shell charcoal, which account for almost 65 percent of the firm’s cost of production, and […]
Sri Lanka tourist arrivals up 39-pct in May
June 10, 2011 (LBO) – Tourist arrivals to Sri Lanka rose 39 percent to 48,000 in May 2011 from a year earlier, led by increases in visitors from India and East Asia, data from the tourist promotion office showed. Visitors from Britain fell 0.4 percent to 4,452 while German arrivals rose a modest 3. 2 […]
Sri Lanka stock close 0.6-pct lower
June 10, 2011 (LBO) – Sri Lanka stocks closed 0. 6 percent lower Friday after seeing a spurt of speculative trading when Lanka Orix Leasing Company sold out of People’s Merchant Bank, a smaller leasing firm, brokers said. Stocks purchased by Jayaweera have been been subject to heavy speculative trading in recent weeks, though no […]
Sri Lanka investments could rise with transparency: IMF
June 10, 2011 (LBO) – Sri Lanka may see a more investments, if perceptions about transparency are addressed and there is clarity on the role of the state in the economy, an International Monetary Fund mission said. “Increased transparency and improved governance could also bolster market confidence and lead to higher investment,” an IMF mission […]
Sri Lanka state textile trader; no accounts
June 9, 2011 (LBO) – Lanka Salusala, a Sri Lankan state textile trading firm has not released audited accounts from 2004, had excess staff, unsettled loans and its performance could not be measured, a finance ministry report said. In a related development Sri Lanka’s Daily FT newspaper reported that the trade ministry has requested the […]
Sri Lanka gets IFC funds for wind power
June 09, 2011 (LBO) – The International Finance Corporation, part of the World Bank group, is investing 3.8 million US dollars in Sri Lanka’s SENOK group to support its wind power projects. “IFC’s investment will help develop SENOK’s capacity in renewable energy and support the company’s plans to adopt global environmental and social practices,” a […]
Sri Lanka Panasian Power controlling shareholder reduces stake
June 09, 2011 (LBO) – The Malaysian controlling shareholder of Sri Lankan mini hydro firm Panasian Power reduced its control with the sale of a large stake in trades which boosted market turnover on the Colombo bourse Thursday. Power Hub International Sdn Bhd sold 68, 325,100 shares of Panasian Power in three lots at eight […]
New Era
June 8, 2011 (AFP) – Sri Lanka is to finally scrap its telegraphic service, which has been overtaken by mobile phones and the Internet and handles just 50 telegrams a day, an official said Wednesday. Transmitting telegrams using a network of postal messengers across the country was too expensive, postal ministry secretary Hemasiri Fernando said, […]