Author: lbostgadmin
Sri Lanka inflation accelerates to 6.6-pct in October
Oct 29, 2010 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 6.6 percent in October from a year earlier, accelerating from 5.8 percent in September, the government’s statistics office said. It was the sixth straight monthly increase in inflation and was driven largely by price increases in food and beverages. During October prices […]
Sri Lanka economist says dissent is democratic
Oct 29, 2010 (LBO) – Sri Lankan economist and opposition United National Party lawmaker Harsha De Silva has defended his criticism of government policy, saying efforts to tarnish critics were uncalled for. The newspaper said some of the recipients of the emailed note were “furious over the call for the elimination of so called ‘traitors’ […]
Australian rights agency says asylum centre must close
SYDNEY, October 29, 2010 (AFP) – Australia’s human rights agency Friday urged the government to stop locking up asylum seekers on remote Christmas Island, its main detention centre, saying it was overcrowded and inadequate. Thousands of boatpeople have been brought to the small Indian Ocean island this year, forcing some to sleep in tents and […]
‘s re-election
October 29, 2010 (AFP) – Sri Lanka’s Supreme Court rejected Friday a challenge to the re-election of President Mahinda Rajapakse filed by his defeated — now jailed — opponent, former army chief Sarath Fonseka. The five-judge bench dismissed the petition after accepting a defence argument that there was insufficient grounds to proceed with the case, […]
SriLankan Airlines adds flights to Maldive islands
Oct 29, 2010 (LBO) – SriLankan Airlines is almost doubling daily flights to the Maldive islands from December 1 to cater to the peak tourism season and also connecting a fourth city in China, a statement said. The number of flights to Male is being increased to six a day from the earlier 3-4 a […]
Maldives to regulate tourist weddings
Oct 29, 2010 (LBO) – Maldives Islands will issue ‘strict guidelines’ on tourist weddings following an incident where resort staff mocked a foreign couple who were renewing their wedding wows at a beach ceremony. Maldives’ President Mohamed Nasheed had expressed disgust at the incident in a radio address and described the behaviour of those involved […]
Earth-size planets abound in Milky Way: study
WASHINGTON, October 29, 2010 (AFP) – One out of four Sun-like stars in our Milky Way galaxy could host Earth-size planets, making life-bearing systems like ours possibly more common than previously thought, an astronomical study said Thursday. Dubbed the most extensive planetary census of its kind, the NASA-funded study at the University of California, Berkeley […]
Sri Lanka Kelani Valley continues recovery in Sept quarter
Oct 29, 2010 (LBO) – Sri Lanka’s Kelani Valley Plantations made a net profit of 36 million rupees in the September 2010 quarter owing to strong rubber and stable tea prices, a stock exchange filing said. The company is recovering from losses a year ago with the loss in the September quarter of 2009 being […]
Credit Risks
Oct 29, 2010 (LBO) – Other than Sri Lanka’s government Treasury bills, which was free of credit risk, other types of investments even in banks and finance companies regulated by the Central Bank had different levels of risk, Governor Nivard Cabraal said. To educate the public about the level of risk in each institution the […]
Yard Prospects
Oct 29, 2010 (LBO) – Sri Lanka’s Colombo Dockyard delivered the second of a pair of passenger vessels for an Indian customer but warned profitability could dip this year owing to the effects of recession and growing competition. The island’s 30-year ethnic war ended in May 2009 leading to the removal of marine war-risk insurance […]
Sri Lanka stocks close up 1.56-pct
Oct 29, (LBO) – Sri Lanka’s stocks closed up Friday, with gains in banking sector stocks owing to buying by institutional and high-net-worth individual investors, brokers said. The Colombo All Share Index rose 1.56 percent (102.31 points) to 6,678.05 points, while the Milanka Index of more liquid stocks rose 1. 81 percent (129.07 points) to […]
Sri Lanka exports up 7.0 percent, trade expands
Oct 28, 2010 (LBO) – Sri Lanka exports grew 7.0 percent to 760.3 million US dollars in August 2010, with industrial exports up 7. 8 percent to 574 million dollars though apparels continued to weaken, official data showed. Imports were up 36.9 percent to 8,669 million US dollars with consumer goods up 45.1 percent to […]