Author: lbostgadmin
Expanding Gas
Sept 01, 2010 (LBO) – Sri Lankan liquid petroleum gas (LPG) supplier Laugfs Gas is to expand with plans for regional storage facilities in the north and south, an official said. Laugfs has said recently that it is also keen on buying the local assets of its competitor Shell Gas Lanka which wants to sell […]
Sri Lankans seen deprived of free trade benefits by protectionist lobby
Sept 01, 2010 (LBO) – Protectionist lobbies holding up a new free trade deal with India are putting Sri Lanka at risk of being left out of emerging regional trade blocs and depriving consumers the benefits of free trade, an official said. “Sri Lanka is rather insignificant in the larger calculations of world powers except […]
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NEW DELHI, August 31, 2010 (AFP) – India on Tuesday said China was demonstrating “more than normal interest” in the Indian Ocean as two Chinese warships made a rare visit to military-ruled Myanmar. India is watchful of China’s growing presence in the region, including its major investments in ports being built in Sri Lanka and […]
Law Change
August 31, 2010 (AFP) – Sri Lanka’s Supreme Court on Tuesday began assessing a draft bill that would amend the island’s constitution to allow President Mahinda Rajapakse to run for office for a third term. Registrar of the Supreme Court said the five-judge bench would give their decision to the president and speaker of parliament […]
Sri Lanka stocks close up 0.57-pct
Sept 01, 2010 (LBO) – Sri Lankan stocks closed slightly higher Wednesday with heavy trading in shares of a hotel that announced a rights issue, brokers said. The All Share Price Index closed at 5,690.29, up 0.57 percent (32.28 points) while the more liquid Milanka index rose 0.34 percent (20.16 points) to close at 5,909.32, […]
Sri Lanka Treasuries yields fall
Sept 01, 2010 (LBO) – Sri Lanka’s one year Treasury bill yields fell 21 basis points Wednesday at an auction where the government rolled over 10 billion rupees of maturing bills, the debt office said. The 3-month yield fell 05 basis points to 7. 13 percent, the 6-month yield fell 15 basis points to 7.80 […]
Sri Lanka Treasury chief backs free trade
Aug 31, 2010 (LBO) – Sri Lanka’s finance secretary, a key policy maker in the current administration has backed freer trade which can improve people’s liberties and propel the country on a higher growth path. Sri Lanka has seen flourishing free trade from during the times of ancient kings. Jayasundera said the country was looking […]
Sri Lanka inflation at 5.0-pct in August
Aug 31, 2010 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 5. 0 percent in August 2010 from a year earlier, up from 4. 3 percent in July, the government’s statistics office said. The Colombo Consumer Price index increased 0. 5 percent during the month, against no growth in the month of July. […]
Sri Lanka supreme court takes up constitutional changes
August 31, 2010 (AFP) – Sri Lanka’s Supreme Court on Tuesday began assessing a draft bill that would amend the island’s constitution to allow President Mahinda Rajapakse to run for office for a third term. Registrar of the Supreme Court said the five-judge bench would give their decision to the president and speaker of parliament […]
Germany charges suspected Tamil Tigers
BERLIN, August 31, 2010 (AFP) – German prosecutors said Tuesday they had charged three men suspected of fundraising and buying weapons for the Sri Lankan separatist group the Tamil Tigers. Sri Lankan national Vijikanendra V. S., 35, and German nationals Sasitharan M. , 33, and Koneswaran T., 39, were charged with belonging to a banned […]
India BlackBerry users relieved as shutdown averted
NEW DELHI, August 31, 2010 (AFP) – India’s BlackBerry users heaved a sigh of relief Tuesday after the government gave the company a two-month reprieve on a threat to ban its messaging services, averting a showdown over security access. Research in Motion (RIM), the smartphone’s maker, has made “certain proposals for lawful access” to heavily […]
Telecom Bonds
Aug 31, 2010 (LBO) – Sri Lanka Telecom (SLT) has commissioned a fibre optic cable linking the former war zone in the northern Jaffna peninsula with the rest of the country, offering high-speed communications, a statement said. The “information superhighway” to the north has been built alongside the A9 main route to Jaffna, where information […]