Author: lbostgadmin
Sri Lanka wards off tuna quota: minister
Mar 16, 2011 (LBO) – Sri Lanka has prevented efforts to restrict her tuna quota in the Indian Ocean Tuna Commission (IOTC), fisheries minister Rajitha Senaratne said. Sri Lanka had revived its activity in the IOTC and was compliant with its rules and did not allow IUU (illegal, unreported, unregistered) fishing,” Senaratne said. Had the […]
Sri Lanka Spence buys Browns hotel shares
Mar 15, 2011 (LBO) – Sri Lanka’s Aitken Spence Hotel Holdings has increased its stake in Browns Beach Hotels, one of the island’s oldest beach resorts which is to be demolished to make way for a new hotel, a statement said. Aitken Spence Hotel Holdings bought 10,000 shares at 21 rupees each, a stock exchange […]
Express Bus
Mar 15, 2011 (LBO) – Sri Lanka’s road development and transport authorities are planning bus services for the public on the island’s first expressway part of which is set to open in July, an official said. A fuel station will be set up at Dodangoda in Kalutara on the expressway. Vehicles like three-wheeled auto-rickshaws, motorcycles, […]
Every Minute
Mar 15, 2011 (LBO) – Sri Lanka has registered a new motor bike the equivalent every two and a half minutes and a three-wheeler taxi every six minutes in 2010, the latest official data shows. In 2010 registrations of motor cycles rose 51 percent to 204,811 surpassing an earlier high of 182,508 reached in 2007, […]
Highway Code
Mar 15, 2011 (LBO) – Sri Lanka is to keep clear land on either side of several expressways that are being planned or built where no buildings will be allowed, a senior official said. Road Development Authority director-general R W R Pemasiri said, owners of private property on either side of the expressway being built […]
Sri Lanka stocks extend losses
Mar 15, 2011(LBO) – Sri Lankan stocks fell sharply Tuesday extending Monday’s losses due to credit issues and global concerns, brokers said. The All Share Price Index closed at 7,029. 02, down 1.96 percent (140.74 points) while the Milanka Price Index of more liquid stocks closed at 6,608. 72, down 1.63 percent (109.35 points), according […]
Sri Lanka land prices seen rising
Mar 14, 2011 (LBO) – Land prices in Sri Lanka are set to rise with interest rates seen “benign” this year and remittances from migrant workers who send money back to build homes staying strong, the central bank said. “When the asset prices fall, financial markets, investors and financial institutions are adversely affected and such […]
India captures 61 Somali pirates after clash: navy
NEW DELHI, March 14, 2011 (AFP) – The Indian navy has captured 61 suspected Somali pirates and rescued 13 fishermen after a firefight with a pirate mothership in the Arabian Sea, a navy spokesman said Monday. “A total of 74 men have been apprehended of which 61 are suspected to be Somali pirates,” Indian navy […]
Australian police use tear gas on asylum seekers
SYDNEY, March 14, 2011 (AFP) – Australian police used tear gas to quell a protest of 300 asylum seekers on remote Christmas Island on Monday, as the government warned of a tense mood within the under-pressure detention centre. More than 6,500 refugees — mostly from Iraq, Afghanistan and Sri Lanka — arrived in Australia last […]
Niche Market
Mar 14, 2011 (LBO) – Sri Lanka is becoming an attractive location for ‘Finance and Accounting Outsourcing’ (FAO) with the world’s second largest pool of management accountants and wages lower than India, a report said. “The availability of a large pool of skilled finance and accounting professionals makes FAO one of the most logical niche […]
Sri Lanka tourist arrivals up 14.8-pct in Feb
Mar 14, 2011 (LBO) – Sri Lanka’s tourist arrivals rose 14. 8 percent to 65,797 in February 2011 from a year earlier, though visitors from key generating markets in the United Kingdom and Germany dropped. February arrivals were also lower than the January peak of 74,197 as the Western European winter season drew to a […]
Port Parley
Mar 14, 2011 (LBO) – A German delegation headed by a Sri Lankan-born official from the port of Hamburg held talks with Sri Lanka Ports Authority (SLPA) on assistance and collaboration between the two harbours, a statement said. The construction of the breakwater of the Colombo Port Expansion Project is on schedule and is expected […]