Author: lbostgadmin
‘s former army chief launches attack on president
April 22, 2010 (AFP) – Sri Lanka’s detained former army chief briefly emerged from custody Thursday to attend the opening of parliament and used the opportunity to launch an attack on President Mahinda Rajapakse. Sarath Fonseka last year led troops to victory over Tamil Tiger rebels after decades of ethnic conflict on the island, but […]
Maldives president wins UN eco prize
Apr 22, 2010 (LBO) – President Mohamed Nasheed of Maldives, a low lying atoll nation in the Indian Ocean which fears inundation rising sea levels, has won a top environmental prize from the United Nations, his office said. He has been named a winner of the ‘Champions of the Earth’ award for policy leadership. Maldives […]
Holiday Banking
Apr 22, 2010 (LBO) – Sri Lanka’s Commercial Bank said it will open a ‘holiday banking centre’ at a well-known shopping mall in the capital Colombo to meet growing demand for extended banking hours and higher cash withdrawals. The centre at the Majestic City mall will stay open from 10.00 am to 7.30 pm on […]
Heavy Lift
Apr 22, 2010 (LBO) – Movement of heavy cargo for post-war reconstruction and modernisation in Sri Lanka will provide more business for logistics companies, industry officials said. The specialist skills and equipment of logistics providers will be needed to move cargoes such as equipment for power plants and construction work, they said. Two ports are […]
Sri Lanka shares end up 0.96-pct
Apr 22, 2010 (LBO) – Sri Lanka’s stock market edged higher in record territory Thursday with interest in hotels extending to banks and the finance sector amid high investor confidence, brokers said. The All Share Price Index closed at 4,077.55, up 0.96 percent (38.66 points) while the more liquid Milanka index rose 1.24 percent (57.30 […]
Sri Lanka ruling party wins huge majority
April 20, 2010 (AFP) – Sri Lanka’s ruling party has won a near two-thirds majority in parliament at national polls, the elections commission said in final results announced Wednesday. The parliamentary election was held just two months after presidential polls in which more than 75 percent of the electorate cast their ballots. The two nationwide […]
Sri Lanka ruling party wins 144 seats
Apr 21, 2010 (LBO) – Sri Lanka’s ruling United People’s Freedom Alliance of President Mahinda Rajapaksa has won 144 seats just six seats short of a two thirds majority while the main opposition trailed with 60 seats, final results show. The ruling coalition won a re-poll yesterday in Kandy in central Sri Lanka and the […]
Sri Lanka new parliament gets finance and legal minds
Apr 21, 2010 (LBO) – Sri Lanka’s main opposition United National Party has appointed an economist and a banker to parliament while a minority party has appointed a lawyer experienced in commercial litigation. Tissa Vitharana and G L Pieris, former university professors, were re-appointed by the ruling United National Freedom Alliance. Both are ministers in […]
Sri Lankan president and rival to clash in new parliament
April 21, 2010 (AFP) – Sri Lankan President Mahinda Rajapakse, who cemented his grip on power Wednesday, is set to clash with his arch-rival former army chief Sarath Fonseka when the new parliament opens this week. Final results of parliamentary elections showed Rajapakse’s United People’s Freedom Alliance had secured 144 seats in the 225-member assembly […]
‘s new PM close ally of president
April 21, 2010 (AFP) – Sri Lanka’s ruling party on Wednesday named plantations minister D. M. Jayaratne, a close ally of President Mahinda Rajapakse, as prime minister of the new parliament. The job of prime minister is largely ceremonial in Sri Lanka but, in the event of the president’s death, the holder would be expected […]
Sri Lanka public interest lawyer in parliament
Apr 22, 2010 (LBO) – A senior lawyer, M A Sumanthiran, practising in Sri Lanka’s supreme court, court of appeal and commercial high court and district courts in a variety of civil litigation is entering parliament as an appointed legislator. Sumanthiran is coming as a ‘national list’ or as an appointed member representing the minority […]
Sri Lanka exporters urged to diversify as Western demand wanes
Apr 21, 2010 (LBO) – Sri Lankan exporters should reduce reliance on traditional Western markets where demand will decline, and diversify into booming Asian economies, Asian Development Bank officials said. While exports are recovering after being hit by global recession last year, reduced consumption in key US and European markets are likely to dampen the […]