Author: lbostgadmin
Sri Lanka to hire cruise liner for World Cup fans
June 1, 2010 (AFP) – Sri Lanka plans to hire a cruise liner to accommodate cricket World Cup fans and spectators at the newly built stadium in the island’s south, an official said on Tuesday. The six-million dollar stadium in Hambantota, President Mahinda Rajapakse’s hometown, lacks hotels to accommodate thousands of fans expected to watch […]
Sri Lanka to test first coal power plant by Sept: minister
June 01, 2010 (LBO) – Sri Lanka will start testing its first 300 MegaWatt coal power plant in September with plans to connect it to the national distribution grid by January 2011, power minister Patali Ranawaka said. Coal is expected to reduce the costs of power generation. The CEB is expecting to lose about 40 […]
Hot Seats
June 01, 2010 (LBO) – Sri Lankan public will get 100 seats but VIPs will get 400 seats at a India film awards venue in the island’s capital, officials said, though hundreds of millions of rupees of public money is being spent, including to spruce up the venue. The International Indian Film Academy (IIFA) awards […]
Tele Share
June 01, 2010 (LBO) – Korean electronics maker Samsung said it was eyeing a 30 percent share in Sri Lanka’s growing flat panel television market with an intensified marketing drive as the overall domestic market is also set for higher growth. Samsung West Asia chief JungSoo Shin said his firm had market leadership status for […]
Sri Lanka motor stocks rise on import duty cut
June 01, 2010 (LBO) – Sri Lankan stocks recovered Tuesday, as investors bought motor and consumer products firms on news of import tax cuts on vehicles and electronic goods, despite some retail profit-taking on selected stocks, brokers said. Shares of Autodrome closed at 570, up 35.25 or seven percent. Singer Sri Lanka closed at 95.25, […]
” in new twist to defend state excesses
PARIS, May 30, 2010 (AFP) – As European governments rush to cut budget deficits with draconian austerity measures, experts are warning that the fallout could mean a shutdown in Europe’s tentative economic recovery. The IMF’s chief economist, Olivier Blanchard, has said there is “a risk… of austerity zeal in some countries under pressure from the […]
Sri Lanka inflation slows to 5.3-pct in May
May 31, 2010 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 5.3 percent in May 2010 from a year earlier, down from 5.8 percent in April, the third straight monthly fall, the government statistics office said. The 12-month moving average, which has been on the rise since March, rose to 3.6 percent from […]
Sri Lanka needs international probe: UN rights chief
GENEVA, May 31, 2010 (AFP) – The United Nations human rights chief maintained Monday that Sri Lanka needed an international probe into the government’s final offensive against Tamil Tiger rebels last year. Navi Pillay, the UN High Commissioner for Human Rights, noted that the Sri Lanka government had created a post-war reconciliation commission to look […]
Sharma ton seals India win 0ver Sri Lanka
BULAWAYO, May 30, 2010 (AFP) – A chilly day in Africa but not for Indian cricketers as batsman Rohit Sharma hit his second century in successive matches to secure a seven-wicket win over Sri Lanka in a tri-nation series. Sharma’s first century was against Zimbabwe on Friday in a match which the home side won […]
” – minister
May 31, 2010 (AFP) – The governing body for cricket in Sri Lanka is the island nation’s third-most dishonest institution, the country’s new sports minister said on Monday. “The first and second are education and police. Sri Lanka Cricket is the third-most corrupt institution in the country,” minister Chandrasiri Bandara Ratnayake told reporters in Colombo. […]
Card Growth
May 31, 2010 (LBO) – Sri Lanka’s banks have started to issue new credit cards ending a steady contraction seen during 2009, amid an overall growth in commercial bank loans to private businesses this year, official data show. In March 2010, bank credit to businesses rose 23 billion rupees, the strongest monthly growth since credit […]
Lease Growth
May 31, 2010 (LBO) – Sri Lanka’s Commercial Leasing Company will raise 700 million rupees through a senior unsecured debenture which has been rated ‘A-(lka)’ with a ‘stable’ outlook, Fitch Ratings Lanka said. The balance was working capital loans secured by vehicle mortgages (9 percent of advances) and debt factoring (15 percent). Fitch said loan […]