Author: lbostgadmin
Sri Lanka military HQ to make way for hotels
January 26, 2011 (AFP) – The Sri Lankan government said Wednesday it was relocating the defence ministry and main army headquarters in Colombo to make way for a billion-dollar hotel project. An information department statement said the cabinet had decided to shift the military facilities from their prime, seafront location in the capital to the […]
‘s ex-chief loses appeal over parliamentary seat
January 25, 2011 (AFP) – Sri Lanka’s jailed former army chief Sarath Fonseka, who tried to unseat the president in elections, on Tuesday lost an appeal to retain his parliamentary seat. The Supreme Court ruled that a court martial verdict in September finding him guilty of arms procurement offences meant that he was no longer […]
Sri Lanka shifts venues for Windies ODIs
January 26, 2011 (AFP) – Sri Lanka has switched venues for next week’s one-day series against the West Indies to Colombo, an official said Wednesday, as both teams prepare for next month’s World Cup. The games will be played during the day at the Sinhalese Sports Club ground in Colombo, Sri Lanka Cricket media manager […]
Age Limit
Jan 26, 2011 (LBO) – Sri Lanka has raised the minimum age of those going abroad as domestic workers to 21 years from 18 to mainly to protect young female workers, the government said. “As per the data nearly 50 percent of Sri Lankans migrating for foreign employment are females of which large category goes […]
Standard Measures
Jan 26, 2011 (LBO) – The Sri Lanka chapter of US based Chartered Financial Analysts (CFA) is promoting the adoption of Global Investment Performance Standards (GIPS) which is useful to attract foreign capital, an official said. The standards are checked by a ‘verifier’ usually an auditor. Rajiv Casie Chitty, the GIPS chair at CFA Sri […]
Sri Lanka stocks up on poultry
Jan 26, 2011 (LBO) – Sri Lanka stocks closed 0.23 percent higher with poultry stocks being chased higher by punters, while some plantations stocks also moved up, while the broader index closed higher than an index of liquid stocks, brokers said. The All Share Price Index closed at 7,241.87, up 0.23 percent (6.63 points) while […]
Sri Lanka Treasuries yields flat
Jan 26, 2011 (LBO) – Sri Lanka’s Treasury bills yields were steady at Wednesday’s auction with the government raising 13. 2 billion rupees after offering to 11. 5 billion rupees of bills for roll-over. The 3-month yield was flat at 7.01 percent, the 6-month yield was up one basis point to 7. 10 percent and […]
Sri Lanka cuts taxes on milk powder
Jan 25, 2011 (LBO) – Sri Lanka has cut taxes on imported milk powder from 50 rupees a kilogram to 28 rupees as global commodity prices surged, a finance ministry official said soon after taxes on petrol were cut to maintain prices. Food commodities, base metals, minerals and precious metals have started to bubble again. […]
Prison Riot
January 24, 2011 (AFP) – Sri Lankan prison guards opened fire Monday to halt a riot by prisoners protesting against poor conditions, killing at least one inmate and wounding another 20, an official said. Rounds of ammunition were fired as prisoners lit fires at the prison in the town of Anuradhapura, a prison official in […]
Store Club
Jan 25, 2011 (LBO) – Sri Lanka’s Odel a high end retailer said it had joined a global department store association founded in Switzerland which whose members have combined sales of 60 billion US dollars. Intercontinental Group of Department Stores (IGDS) has 33 members in 31 countries, Selfridges, Saks 5th Avenue, Printemps, Parkson, Beco, FEDS, […]
Sri Lanka Horana Plantation profits up 80-pct in Dec
Jan 25, 2010 (LBO) – Sri Lanka’s Horana Plantations, which grows tea and rubber said profits in the December 2010 quarter grew 80 percent to 135 million rupees, while revenues increased only 5.5 percent to 560 million rupees. The firms produces about 4.0 million kilos of tea a year and 1.6 million kilos of rubber. […]
Sri Lanka budget on track; land sales to boost revenues in 2011
Jan 24, 2011 (LBO) – Sri Lanka is to raise up to 500 million US dollars from land sales in 2011, a top official has said as November data indicated that the 2010 budget has been contained within targets. Treasury secretary P B Jayasundera was quoted as saying in Bloomberg, a newswire that Sri Lanka […]