Author: lbostgadmin
Sri Lanka mulls ocean thermal energy option
Nov 13, 2010 (LBO) – Sri Lanka is considering OTEC, or ocean thermal energy conversion, in the eastern deep-water harbour of Trincomalee as part of a renewable energy drive, Minister of Power and Energy Champika Ranawaka said. Trincomalee, a natural harbour with a deep trench, has long been considered a potential site for OTEC but […]
” as lies
November 12, 2010 (AFP) – Sri Lanka Friday rejected as “lies” new photographs broadcast by Al-Jazeera of piles of dead bodies and execution-style killings allegedly taken during the final stages of the island’s ethnic war. Media Minister Keheliya Rambukwella said that the Qatar-based television network had mixed images previously shown on a British television channel […]
Sri Lanka gets ADB help to cope with climate change
Nov 13, 2010 (LBO) – Sri Lanka has drafted a national strategy for climate change adaptation with the support of the Asian Development Bank (ADB), a statement said. The ADB, working with the Ministry of Environment, has given technical assistance for a new framework to enable Sri Lanka’s economy and people to cope with climate […]
Maid Abuse
November 13, 2010 (AFP) – A Sri Lankan housemaid has accused her Kuwaiti employer of hammering 14 nails into her body, in the second such incident in the past few months, a local doctor said Saturday. Non-governmental organisations report frequent cases of employer abuse of maids who work abroad. The woman, identified only as Lechchami, […]
Sri Lanka floods force up to 300,000 from their homes
November 11, 2010 (AFP) – Sri Lanka sent in troops to rescue residents marooned in the capital Colombo on Thursday after the heaviest rains in 18 years flooded the city, forcing up to 300,000 people from their homes. At least one man was struck down by lightning and killed while a woman was injured when […]
” perceptions: WGC
Nov 12, 2010 (LBO) – India, the top global consumer of gold, will see higher demand helped by a stronger perception that the metal is a reliable and safe “monetary asset” amid rising inflation, an industry body said. The report from the World Gold Council, an body representing mining interests, came shortly after Robert Zoellick, […]
Gas Action
Nov 12, 2010 (LBO) – Sri Lankan liquid petroleum gas supplier Laugfs Gas, whose share issue to raise 2. 5 billion rupees was oversubscribed, plans to acquire a vessel and build an unloading terminal in a new port, an official said. Laugfs managing director Thilak de Silva said the firm wants to be able to […]
US money printing lifts oil prices, for now: IEA
PARIS, November 12, 2010 (AFP) – Easy-money policy by the United States is pumping up the oil price to about 90 dollars, but medium-term growth of oil demand should slow and contain the price, the IEA said on Friday. “Physical market developments through October have stoked expectations of inexorably higher prices even though the framework […]
Sri Lanka apparel group chief says scale can change industry
Nov 12, 2010 (LBO) – Ashroff Omar, head of Sri Lanka’s Brandix apparel group had told a global conference that the creation of larger firms can drive research and development to make apparels give higher value to users, his company said. He had delivered the keynote address at an event marking 100 years of The […]
Sri Lanka stocks end up 0.5-pct
Nov 12, 2010 (LBO) – Sri Lankan stocks closed higher Friday in thin trade as businesses recovered from devastating floods in the capital Colombo caused by heavy rains the day before, brokers said. The All Share Price Index closed at 6,600.06, up 0.46 percent (30.45 points) while the more liquid Milanka index rose 0.50 percent […]
Sri Lanka Hayleys rating on negative watch after acquisition
Nov 12, 2010 (LBO) – Sri Lanka’s Hayleys’ rating has been place on a ‘negative’ watch after the firm took on 2. 0 billion rupees in debt to buy Alumex, an aluminum extrusion company for 2.1 billion rupees, Fitch Ratings Lanka said. The ‘rating watch negative’ could result in a downgrade of the firm’s AA-(lka) […]
Sri Lanka in new campaign to promote tea
Nov 11, 2010 (LBO) – Sri Lanka’s tea industry will launch a marketing campaign to promote Ceylon tea next year with funds from a new export tax on exports, a senior Tea Board official said. The levy of 3.50 rupees a kilo that came into effect in November will raise about a billion rupees or […]