Author: lbostgadmin
Sri Lanka to push up investment levels with stability, low deficits: Treasury secretary
July 07, 2010 (LBO) – Sri Lanka will maintain public investment at around 6 percent of gross domestic product and will attempt to kindle private investment five times that by creating an environment for people to invest, an official said. “Government will invest in areas not very attractive to the private sector,” Treasury secretary P […]
‘s retiring Muralitharan says his time is up
NEW DELHI, July 7, 2010 (AFP) – Sri Lanka’s world bowling record holder Muttiah Muralitharan said on Wednesday he was retiring from Test cricket because he had nothing left to strive for. “I have achieved what I wanted to achieve. There is nothing left or any target to reach,” the 38-year-old told the Mumbai-based Daily […]
Sri Lanka buys out Emirates for US$53mn
July 07, 2010 (LBO) – The Sri Lankan government has bought a stake owned by Emirates in SriLankan Airlines for 53 million dollars taking full control of its national carrier, finance ministry secretary P B Jayasundera said. Emirates managed the airline for 10 years from 1998. “Payment has been made and shares are held by […]
Bangladesh sex workers plump up on cow steroids
FARIDPUR, July 7, 2010 (AFP) – Whenever Bangladeshi brothel owner Rokeya, 50, signs up a new sex worker she gives them a course of steroid drugs often used to fatten cattle. For older sex workers, tablets work well, said Rokeya, but for younger girls of 12 to 14 — who are normally sold to the […]
Maldives president reappoints cabinet : official
July 7, 2010 (AFP) – Maldivian President Mohamed Nasheed on Wednesday reappointed his cabinet in a bid to end the power struggle between himself and parliament, an official said. Nasheed swore in his 13-member cabinet in the seafront capital of Male, giving ministers the same portfolio they had before they resigned last Tuesday, a senior […]
Sri Lanka top tea brand invests in plantations
July 07, 2010 (LBO) – Tea bag exporter Ceylon Tea Services, part of Sri Lanka’s Dilmah brand group, is to invest 233.3 million rupees in a tea plantations subsidiary of the parent firm, a statement said. Ceylon Tea Services said in a stock exchange filing that it bought 15,553,600 rights in Kahawatte Plantations from Forbes […]
Cargo Flow
July 07, 2010 (LBO) – Container volume growth at a Colombo port private terminal run by an associate firm of John Keells Holdings slowed down sharply in June after surging in previous months, latest data shows. South Asia Gateway Terminals, a big contributor to JKH profits, handled 158,652 TEUs or twenty-foot equivalent container units (TEUs) […]
Sri Lankan stocks plunge 1.68-pct
July 07, 2010 (LBO) – Sri Lankan stocks plunged 1.6 percent Wednesday as retail buyers sold out amid weak support institutional buyers and state funds stayed on the sidelines, brokers said. The All Share Price Index closed at 4,470.78, down 76.40 points, while the more liquid Milanka index dived 1.88 percent (96.62 points) to close […]
Shell Talks
July 06, 2010 (LBO) – A high powered Sri Lanka government committee tasked with buying back a controlling stake in a gas firm privatized to Shell, a petroleum firm, will meet Friday to decide on its future moves, a top official said. Shell Gas Lanka is the top liquefied petroleum gas (cooking gas) distributor in […]
Fuel Failure
July 06, 2010 (LBO) – Sri Lanka’s state-owned oil refiner, Ceylon Petroleum Corporation (CPC), suffered a loss of almost 13 billion rupees in the first six months of this year, a senior official said. Petroleum ministry secretary Titus Jayewardene said the refiner, which has a 50,000 barrels a day refinery at Sapugaskanda, north of Colombo, […]
Fuel Losses
July 06, 2010 (LBO) – Sri Lanka’s state-owned oil refiner, Ceylon Petroleum Corporation (CPC), continued to suffer losses in the first half of 2010 an official said. The CPC is also owed billions by state institutions which buy fuel from it do not repay, indirectly financing the budget deficit through bank credit. Petroleum ministry secretary […]
Protests at UN office in Sri Lanka over war panel
July 6, 2010 (AFP) – Protesters led by a Sri Lankan cabinet minister surrounded the United Nations office in Colombo on Tuesday to protest at a UN panel set up to probe war crimes allegations. Housing Minister Wimal Weerawansa shouted slogans as protesters broke through a police barricade guarding the office, witnesses said. “We will […]