Author: lbostgadmin
Sri Lanka Treasuries yields plunge
Sept 07, 2010 (LBO) – Sri Lanka’s one year Treasury bill yield plunged 45 basis points to 7. 42 percent and the 6-month yield fell 52 basis points to 7.28 percent at Wednesday’s auction, the government’s debt office said. There were no sales of 3-month bills. Dealers said the rates fell on expectations of a […]
Sri Lanka civil society organizations oppose constitutional change
Sept 06, 2010 (LBO) – Civil society organization representing several interest groups in Sri Lanka have come out against proposed changes to the constitution as a move that will further destroy democratic values and individual freedom. “Until the people understand these two basic principles Sri Lanka will only have fascist nationalism by majority vote (also […]
Sri Lanka power expert comments on solar economics
Sept 06, 2010 (LBO) – Tilak Siyambalapitiya, an expert of power has responded to a recent Lanka Business Online story on a solar power project by a financial sector firm, explaining the economics of solar power. The response is reproduced below. I write with reference to your recent news item on Solar Supplement. I am […]
Fast Track
Sept 06, 2010 (LBO) – India’s Mphasis said its start up outsourcing unit in Sri Lanka may grow faster than planned as it signs up multinational firms to outsource services starting next month. The firm opened a 250-seat facility in Colombo Monday and said it would start shifting work of a ‘multinational’ firm within four […]
Sri Lanka poultry industry recovering from state curbs, demand up
Sept 06, 2010 (LBO) – Sri Lanka’s Bairaha Farms, a poultry breeder and processor says the industry is recovering and increasing production after state restrictions on the industry were relaxed but demand is also rising. “Since the Government has been encouraging the local cultivation of maize it did not allow imports in spite of the […]
Sri Lanka resort operators in Maldives seen facing more competition
Sept 06, 2010 (LBO) – Tourists arrivals to the Maldives, where two Sri Lankan conglomerates own or operate resorts, are recovering from recession but construction of more hotels is seen hitting room rates. China is the second highest tourism market to the archipelago so far this year with a 14.2 percent market share preceded only […]
Cargo Flows
Sept 06, 2010 (LBO) – Container volumes at South Asia Gateway Terminals (SAGT), an associate of Sri Lankan conglomerate John Keells Holdings, fell in August, the first monthly fall against a year ago since October 2009. SAGT’s cargo volumes were down 2. 3 percent to 159,334 TEUs (twenty-foot equivalent units or containers) in August 2010 […]
Sri Lanka lake front to be park, entertainment complex: report
Sept 04, 2010 (LBO) – Land around a lake in Sri Lanka’s capital Colombo has been earmarked for hotels, a park, a shopping and an entertainment area and will be offered to private investors by the island’s city development authority, a media report said. State land would be offered investors as 55 or 99 year […]
Sri Lanka breakdown of remaining democracy slammed by newspapers
Sept 05, 2010 (LBO) – Sri Lanka’s main English weeklies have slammed a proposed change to the country’s constitution as the latest in a long list of moves by rulers to destroy individual liberties and break remaining democratic institutions. The constitutional change will see the term limits for the President currently set at two being […]
India tests supersonic cruise missile
BHUBANESWAR, September 5, 2010 (AFP) – India on Sunday successfully tested a surface-to-surface version of the BrahMos supersonic cruise missile which it has developed jointly with Russia, officials said. The missile was fired from a mobile launcher 200 kilometres (125 miles) northeast of Bhubaneswar, the capital of the eastern state of Orissa. “The test of […]
‘s parliament again fails to elect new PM
KATHMANDU, September 5, 2010 (AFP) – Nepal’s parliament failed for the sixth time to elect a prime minister on Sunday, as the house speaker warned of a “serious crisis” if a new government is not in place soon. The country has been without a government since June 30, when former prime minister Madhav Kumar Nepal […]
Sceptical green urges smart billions to fight warming
COPENHAGEN, September 5, 2010 (AFP) – Bjoern Lomborg, the bad boy of the climate debate who has rejected for years “alarmist” prophecies from environmentalists, stresses in a new book the need to invest billions to fight global warming. In “Smart Solutions to Climate Change,” Lomborg lashes out at current policies to curb greenhouse gas emissions […]