Author: lbostgadmin
Sri Lanka PM says Tamil Tigers re-emerging
June 8, 2010 (AFP) – Tamil Tiger rebels are re-emerging a year after their defeat, Sri Lanka’s prime minister said Tuesday, despite the once-powerful guerrilla force launching no attacks. D. M. Jayaratne told parliament that remnants of the separatist Liberation Tigers of Tamil Eelam (LTTE) were planning a comeback with financial backing from Tamils abroad. […]
India car sales rise 30.5 percent in May
MUMBAI, June 9, 2010 (AFP) – Car sales in India jumped 30. 5 percent year-on-year in May, industry data showed on Wednesday, as new launches boosted demand. A total of 148,481 vehicles were sold in May, up from 113,810 a year earlier, data from the Society of Indian Automobile Manufacturers (SIAM) showed. Market leader Maruti […]
Sri Lanka biodiversity seen under threat
June 09, 2010 (LBO) – Increasing population pressure and human activity are threatening the rich biodiversity in Sri Lanka and a greater focus on habitat protection and conservation is needed, scientists said. Sri Lanka has been recognized as a global biodiversity ‘hotspot’ because of the high number of fauna and flora which are endemic or […]
Sri Lanka Confifi Hotel group gets new board
June 09, 2010 (LBO) – Sri Lanka’s Confifi Hotel Holdings which was taken over by Lanka Orix Leasing Company (LOLC) from former owners the Furkhan family, has appointed a new director board from Wednesday, a stock exchange filing said. LOLC now owns 52 percent of Confifi Hotel Holdings and 25.5 percent of Riverina Hotels. Ishara […]
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June 09, 2010 (LBO) – Sri Lankan stocks recovered Wednesday with gains in banks pushing the market up and retail investors seen chasing midcap and ‘penny stocks’ with heavy speculative trading on Ceylon Leather Products, brokers said. The All Share Price Index closed at 4,464.41, up 37.14 points, while the Milanka index of more liquid […]
Sri Lanka Treasuries yields flat
June 09, 2010 (LBO) – Sri Lanka’s Treasury bill yields were steady at Wednesday’s auction, with the government selling more than the maturing volume to raise new money, the government’s debt office said. The debt office sold 1.7 billion rupees in 3-month bills, 4. 7 billion in 6-month bills and 3.9 billion rupees in 12-month […]
Sri Lanka must reduce deficits, debt; contain inflation: World Bank
June 08, 2010 (LBO) – South Asian countries like Sri Lanka must reduce high budget deficits and public debt to gain from the global economic recovery that is underway, the World Bank said in a report. The region weathered global recession much better than any other, showing remarkable resilience and is the second-fastest growing area […]
Sri Lanka outlines spending plans for 2010
June 08, 2010 (LBO) – Sri Lanka will spend at least 202 billion rupees on defence, 87. 8 billion rupees on roads, 53 billion rupees on health, 26. 2 billion rupees on ports and 25.1 billion rupees on water supply this year, a bill submitted to parliament said. In 2009 Sri Lanka spent 188.6 billion […]
Sri Lanka must cut business costs to lure investors: World Bank
June 08, 2010 – Sri Lanka’s investment climate must be improved and cost of doing business reduced to attract the private investment needed to speed up growth and improve people’s lives, a senior World Bank official said. Sri Lanka needs to sharply increase private investment in order to accelerate growth, Ernesto May, handling private sector […]
‘ trust
June 7, 2010 (AFP) – Sri Lanka’s President Mahinda Rajapakse urged Tamil leaders on Monday to trust him and help resolve outstanding problems following the country’s civil war, warning he would not bow to terrorism. Rajapakse told the Tamil National Alliance (TNA) party, formerly a front for the defeated Tamil Tiger rebels, that he was […]
Taylor century helps Zimbabwe defeat Sri Lanka
HARARE, June 7, 2010 (AFP) – Zimbabwe batsman Brendan Taylor blasted a rapid century at Harare Sports Club to steer his side to an impressive eight wicket win over Sri Lanka in their 50-over international on Monday. This was the last of six Tri-series matches, which included India. The home team, the least fancied of […]
Top Sri Lanka exporter bats for trade deal with India
June 08, 2010 (LBO) – A top Sri Lankan exporter which is already doing business in India has backed the signing of a new deal to further open trade between the two countries, building on an existing ten-year-old agreement. However other exporters have had problems, with individual state taxes hitting them even if national import […]