Author: lbostgadmin
Paranavitana, Sangakkara flay India in first Test
GALLE, July 18, 2010 (AFP) – Tharanga Paranavitana and skipper Kumar Sangakkara hit centuries as Sri Lanka dominated the rain-hit opening day of the first Test against India on Sunday. The left-handed duo put on 181 for the second wicket to lead Sri Lanka to 256 for two in their first innings before heavy rain […]
‘s Dreamliner completes first flight outside US
FARNBOROUGH, July 18, 2010 (AFP) – Boeing’s 787 Dreamliner jet, whose delivery to clients faces fresh delays, landed here Sunday after its first flight outside of the US ahead of the Farnborough International Airshow. The test plane landed at Farnborough airport at 9:08am (0808 GMT), watched by journalists from around the world, ahead of the […]
Floor Tussle
July 18, 2010 (LBO) – Sri Lanka’s Bharti Airtel unit has taken floor prices imposed by the regulator to court complaining that it helps the market leader and hurts the consumer, a media report said. Bharti Airtel Lanka, has petitioned Sri Lanka’s supreme court, The Island newspaper said Saturday. The court has to agree to […]
Sri Lankan central banker writes pro-poor book
July 17, 2010 (LBO) – A former Sri Lankan central banker has written a book that can open the eyes of third world policy makers and impoverished citizens helping them escape state-induced poverty caused by high inflation. “Money does not raise economic growth, but it is the fundamental cause of high rate of inflation that […]
US urges Maldives to accept foreign mediation
July 17, 2010 (AFP) – The United States on Saturday urged the Maldives to accept international offers of mediation to resolve a political crisis that has led to angry street demonstrations. Their intervention prompted Nasheed to reappoint his 13-member cabinet last Tuesday, a week after they resigned en masse. But the mediation has done little […]
Sri Lanka tea trade sees strong demand
July 17, 2010 (LBO) – Sri Lankan tea prices are likely to stay strong on good demand from consuming countries and possible shortages caused by disruption of production at key origins like India, officials said. Tea Exporters Association chairman Jayantha Keragala said Sri Lankan tea prices were attractive right now. “At the moment we’re enjoying […]
Sri Lanka former war zone economy grows: central bank
July 16, 2010 (LBO) – Sri Lanka’s northern and eastern provinces slightly increased their share of national Gross Domestic Product last year compared with 2008 following the end of a war, the Central Bank said. The western province remained as the highest contribution to GDP in 2009 but its share reduced further to 45. 1 […]
India look to settle 17-year score in Sri Lanka
GALLE, July 16, 2010 (AFP) – India on Sunday embark on a third Test series in two years against Sri Lanka, with the world’s top-rated side hoping to end their 17-year drought in the island nation. The Indians have not won a Test series in Sri Lanka since a 1-0 success by Mohammad Azharuddin’s team […]
Sri Lanka central banker writes on good money and bad
July 16, 2010 (LBO)- Ex-central bankers seldom write books on their experiences. Perhaps, the fear of re living the traumatic experiences they would have undergone in handling economic crises in turbulent times may have dissuaded them from doing so. It is important to note that Copernicus made this observation when there was no formal subject […]
BP stops Gulf oil flow for first time since April
NEW ORLEANS, July 16, 2010 (AFP) – British energy giant BP stopped the oil flowing into the Gulf of Mexico on Thursday for the first time in three months as it began key tests hoping to stem the spill for good. Shortly after BP engineers shut down the last of three valves on a giant […]
Technology Stake
July 16, 2010 (LBO) – Sri Lanka’s Environmental Resources Investment (ERI) group has invested 100 million rupees for a stake in Enterprise Technology (Pvt) Ltd (ETPL) as it expands into the information technology sector, a statement said. The investment was made through Olancom, ERI’s information and communication technology holding company, which it bought earlier in […]
Bank Merger
July 16, 2010 (LBO) – Sri Lanka’s state-run Regional Development Banks (RDBs) are to merge, getting access to foreign funds, and diversify from agriculture into other areas like tourism and lend in the former north-east war zone, officials said. The single entity created from the merger will help reduce costs and improve operating efficiency. “Operating […]