Author: lbostgadmin
Sri Lanka cricket needs clean-up: Bayliss
April 7, 2011 (AFP) – Sri Lanka’s outgoing coach Trevor Bayliss on Thursday said the country needed a strong and stable cricket administration to allow players to focus only on the game and not be distracted by politics. “On the field, we’ve done pretty well for past 18 months,” Bayliss said in an interview with […]
Sri Lanka, UK flights to increase
Apr 07, 2011 (LBO) – Sri Lanka is to sign an air services agreement with the United Kingdom enabling increased flights between the two countries, a government statement said. The air services agreement would enable the frequency entitlement to be increased to 21 flights a week from 14 today between the two countries. The increased […]
Gurkhas in first wave of British military job cuts
LONDON, April 7, 2011 (AFP) – Debt-laden Britain said Monday that 2,600 troops would lose their jobs in a first wave of redundancies forced by defence cuts, with 150 Nepalese Gurkha troops among the first to go. The Ministry of Defence (MoD) said that 1,000 soldiers and 1,600 Royal Navy personnel would be laid off. […]
Tax Banditry
Apr 07, 2010 (LBO) – Sri Lanka’s people are paying tens of billions of rupees to give state jobs to unemployable graduates from state universities where they have also studied at public cost, an official said. Sri Lanka has about 400,000 sitting for university qualifications exams and each year about 20,000 enter universities, and some […]
Safe Land
Apr 07, 2011 (LBO) – Australia has given 480 million rupees to clear land mines from Sri Lanka’s war torn north and speed up the re-settlement of displaced people and farming, the Australian embassy in Colombo said. Though demining in progressing fast, about 506 square kilometres remain to be cleared. Australia had already given 1.4 […]
Sri Lanka shares closer higher
Apr 07, 2011 (LBO) – Sri Lankan shares closed higher Thursday with some interest in the banking and finance sector although total trading volumes were lower than uual, brokers said. The All Share Price Index closed at 7,378.73, up 0.26 percent (18.83 points) while the more liquid Milanka index rose 0. 18 percent (12.90 points) […]
Sri Lankan firms allowed to borrow abroad
Apr 07, 2011 (LBO) – Sri Lanka’s central bank has begun allowing companies to borrow abroad, calling for applications from firms for loans up to 20 million US dollars. Sole proprietorships include those in consultancy services, handicrafts, advertising, publishing, sports services, fashion and film, and entertainment industry. Companies can borrow for working capital, investment, restructuring […]
Sri Lanka and IMF to discuss ways to rope in excess money
Apr 06, 2011 (LBO) – The International Monetary Fund will discuss ways to deal with the excess money in Sri Lanka’s banking system in a bid to contain further inflation from being generated through the pegged monetary system. Sri Lanka’s central bank allowed inflation hit 8. 6 percent in the 12-months to March 2011 prompting […]
Sri Lanka HSBC, British Council backs students in business
Apr 06, 2011 (LBO) – Sri Lankan students studying at universities, private higher education institutions, vocational and professional bodies can win seed capital to start a business in contest launched by the British Council and HSBC bank. Aspiring students will have to submit a business plan to start enterprises in fashion design, architecture, crafts, tourism, […]
Sri Lanka may need monetary tightening: ADB
Apr 06, 2011 (LBO) – Sri Lanka may need monetary tightening later in the year to contain rising inflation and maintain export competitiveness, though growth will be strong for the next two years, the Asian Development Bank said. A central bank inflates an economy mainly by a coercive legal tender law that forces people to […]
Sri Lanka ties held back by rights concerns, US says
WASHINGTON, April 5, 2011 (AFP) – The United States said Tuesday that future cooperation with Sri Lanka depended on improvements in its human rights record and an accounting of the bloodshed at the end of the island’s civil war. With its strategic location and contributions to global peacekeeping, Sri Lanka “is poised to be a […]
Sri Lanka vice-captain, selectors quit
April 6, 2011 (AFP) – Veteran batsman Mahela Jayawardene quit as vice-captain and a three-member selection committee also resigned en masse in a major shake-up in Sri Lankan cricket following the team’s World Cup defeat. “I think it’s time to move on, give the reins to someone younger in the team,” Jayawardene told AFP. The […]