Author: lbostgadmin
Sri Lanka denies rights behind Pamuk boycott
January 23, 2011 (AFP) – Sri Lanka rejected Sunday suggestions that the novelist and Nobel laureate Orhan Pamuk had decided to boycott a literary festival on the island because of human rights concerns. Any attempt to link Pamuk’s non-participation at the Galle Literary Festival to “an alleged situation about freedom of expression in Sri Lanka […]
Bangladesh orders probe into market slump
DHAKA, January 24, 2011 (AFP) – Bangladesh has ordered a probe into the slump on the Dhaka Stock Exchange and unveiled a series of reforms to restore confidence in the market. The move follows the index’s 30-percent fall since it hit a historic high of 8,918. 51 on December 5, with the crisis being blamed […]
Sri Lanka second hotel eyed by Shangri-La: report
Jan 24, 2011 (LBO) – Hong Kong based Shangri-La hotels is looking for a coastal property to build a resort hotel, after buying state land in Sri Lanka’s capital Colombo for a hotel, shopping and apartment complex, a media report said. Bloomberg, a newswire quoting Treasury secretary P B Jayasundera said Shangri La was looking […]
Sri Lanka stocks close up 0.1-pct
Jan 24, 2011(LBO) – Sri Lankan stocks closed up 0. 10 percent Monday with active retail and high-net-worth individual trading in the banking and poultry sectors, brokers said. The All Share Price Index closed at 7,261. 37, up 0.10 percent (7.36 points) while the Milanka Price Index of more liquid stocks closed at 7,298. 57, […]
Sri Lanka retailer raises 5-year money through securitization
Jan 24, 2011 (LBO) – Sri Lanka’s NDB Investment Bank said it had raised a billion rupees for Richard Pieris Distributors, retail chain, for five years backed by cash flows due from the settlement of sales made through credit cards. In typical securitization cashflow generating assets are placed in a special trust or company (special […]
Sri Lanka literary festival lose stars, India denies visa block
Jan 22, 2011 (LBO) – Organizers of Sri Lanka’s Galle Literary Festival has defended its tradition of openness after two star writers pulled out of the event in the wake of protest from rights groups, while India denied that its visa rules hindered writers. “We are looking forward to welcoming writers and festival goers, to […]
Sri Lanka tea output hits record high in 2010
January 22, 2011 (AFP) – Sri Lanka, one of the world’s biggest producers of black tea, reported Saturday that output hit a record high in 2010, helped by good weather. The total crop for 2010 grew by 13. 1 percent to 329.4 million kilograms (72 4.7 million pounds) from 291.1 million kilograms a year earlier, […]
Stars pull out of Sri Lanka book fair under pressure
JAIPUR, January 21, 2011 (AFP) – Nobel-winning Turkish author Orhan Pamuk and fellow writer Kiran Desai have pulled out of Sri Lanka’s main literary festival, Pamuk’s publisher said on Friday, following pressure from press freedom groups. Reporters Without Borders and a Sri Lankan rights group had targeted foreign writers in a campaign that called on […]
Loss Adjustment
Jan 22, 2011 (LBO) – Sri Lanka’s Indian Oil Corporation unit says it is losing 9 rupees a liter on petrol and 21 rupees a liter on diesel by selling fuel at government controlled prices as world commodity prices continued to rise. In 2004 Sri Lanka jettisoned pricing formula and printed money heavily to fix […]
Deep Range
Jan 22, 2011 (LBO) – Sri Lanka’s state marine research agency will buy a survey and research vessel from Taiwan to deepen knowledge and also upgrade a technical college to ‘ocean university’ status, a government minister said. The state National Aquatic and Research Agency (NARA) had been given the nod by the cabinet of minister […]
Sri Lanka Piramal Glass profits up five fold in Dec
Jan 21, 2010 (LBO) – Sri Lanka’s Piramal Glass Ceylon, a unit of India’s Piramal Glass said profits in the December 2010 quarter rose more than five fold to 190 million rupees from 28. 6 million a year earlier. The firm which makes glassware saw revenues grow 28. 2 percent to 1,166 million rupees according […]
‘s Murali to quit after World Cup
January 21, 2011 (AFP) – Record-breaking Sri Lankan spinner Muttiah Muralitharan said Friday he would retire from international cricket after the 2011 World Cup. “This World Cup will be my last outing,” Muralitharan, 38, told reporters on the sidelines of a training session in Colombo. “I am retiring totally from international cricket thereafter. ” The […]