Author: lbostgadmin
Sri Lanka opens state agency debt to foreign buyers
Sept 10, 2010 (LBO) – Sri Lanka’s Urban Development Authority (UDA), a state agency, has launched a 5-year bond to raise 10 billion rupees and 30 percent of the issue is open to foreign investors, officials said. Gotabhaya Rajapaksa, secretary to Sri Lanka’s defence ministry, under which the agency operates, said the money would be […]
Sri Lanka ministers hails new powers for president
September 9, 2010 (AFP) – Sri Lankan ministers on Thursday denied that the president now enjoyed dictatorial powers under a post-war constitutional revamp, but observers worried about the chilling effect on democracy. The national parliament voted in favour of the 18th amendment to the 1978 constitution on Wednesday, scrapping a two-term limit on the presidency […]
Rural India remains beyond reach of Internet: study
NEW DELHI, September 8, 2010 (AFP) – Barely one percent of rural Indians use the Internet, a new study has calculated, despite a rapid recent boom in web access across the country. About 5.4 million of an estimated 570 million rural Indians are active Internet users, said the Internet and Mobile Association of India (IAMAI). […]
Knowledge Forum
Sept 09, 2010 (LBO) – Academics and officials in Sri Lanka’s northern Jaffna peninsular has debated ways to transform the agrarian and fisheries area to a knowledge-based economy with better education, a think has said. He had said that that though Jaffna (North in general) is endowed with limited natural resources (‘moola valam)’ it is […]
Sri Lanka to get weekly tourist flights from Brussels
Sept 09, 2010 (LBO) – Weekly charter flights are to be launched between Brussels and Sri Lanka bringing Belgian and other European tourists from October 31, Jean Deboutte, Ambassador of Belgium to Sri Lanka said. Sri Lanka’s Ambassador to Belgium Ravinatha Aryasinha told the meeting the weekly charter flights will be by Jetair, a leading […]
Rural Credit
Sept 09, 2010 (LBO) – Branches of state banks in Sri Lanka’s war-torn northern and eastern areas topped the lists for giving loans under central bank supported credit schemes for rural agriculture development. Central Banks in high inflation countries including Zimbabwe have engaged in such quasi-fiscal activities starting many agriculture credit schemes. Central Bank ‘re-finance’ […]
Sri Lanka stocks top 6,000-pts
Sept 09, 2010 (LBO) – Sri Lanka’s benchmark index topped 6,000 points Thursday, with high value stocks like John Keells Holdings (JKH) and Distilleries Company shares also helping push turnover up brokers said. The All Share Price Index closed at 6,026.99, up 1.08 percent (64.37 points) while the Milanka Index of more liquid stocks rose […]
Sri Lanka president set to cement grip
September 7, 2010 (AFP) – Sri Lanka’s parliament will vote Wednesday on constitutional reforms enabling President Mahinda Rajapakse to seek a third term, in changes critics say point to the country’s slide into autocracy. Under the proposed amendments, the two-term limit will be scrapped, allowing the populist Rajapakse, who was resoundingly re-elected for the second […]
Sri Lanka changes constitution, lifts term limits
Sept 08, 2010 (LBO) – Sri Lanka’s parliament has changed the constitution, lifting term limits for the president with 161 votes or 11 seats more than a two-thirds majority with several opposition lawmakers also crossing over. The constitution change which also nullifies an earlier change to improve rule of law with a more independent public […]
Sri Lanka Allianz unit profit down
Sept 08, 2010 (LBO) – Allianz Lanka, the local unit of Allianz SE, said net profit fell 23 percent to 44.8 million rupees in the July 2010 quarter from a year ago and that it was opening more branches. Its accounts showed net claims rose to 90 million rupees in the period from 56 million […]
Air fares up as Asian travel rebounds from recession
SINGAPORE, September 8, 2010 (AFP) – Asia-Pacific airlines are raising ticket prices as travellers return in their droves after holding back on their travel plans last year because of the global recession. A strong economic rebound, led by China, has resulted in carriers filling more seats during the summer holidays and demand should remain robust […]
‘s Spice Jet from Oct
Sept 08, 2010 (LBO) – India’s Spice Jet, the country’s second largest budget carrier, will start flying to Sri Lanka daily from Chennai from October 09, after the airline received official nod to start international services. The airline is selling online a Colombo – Chennai ticket at 5,098 rupees and Chennai – Colombo ticket at […]