Author: lbostgadmin
Sri Lanka to make logistics more popular among work force
Apr 06, 2010 (LBO) – Sri Lanka’s shipping community is trying to raise more awareness of trade and logistics among the work force and students to try to overcome a critical shortage of skilled people, officials said. Organisers said they also hope to encourage schools leavers and university students to look at logistics as alternative […]
Sri Lanka national airline hit by competition, needs protection: President
Apr 06, 2010 (LBO) – Sri Lanka’s state-run SriLankan Airline has not been able to face the competition in a liberalized air services framework and it has to be saved, President Mahinda Rajapaksa has said. He said Sri Lanka’s opposition was now criticizing the government’s economic strategy using false propaganda. “During their time they made […]
Sri Lanka Hayleys commercial farming project wins recognition
Apr 06, 2010 (LBO) – A project to help farmers in Sri Lanka’s former war zone by Hayleys, a big exporter of gherkins to global food chains, has won an award from its partner, the US Agency for International Development. A USAID statement said the project was chosen from 700 such initiatives around the world […]
Pension Plan
Apr 06, 2010 (LBO) – State-run Bank of Ceylon (BoC) is offering a contributed pension plan for Sri Lankan expatriates abroad that will pay out monthly after they reach the age of 55 or 60, officials said. Wickremasinghe said BoC was Sri Lanka’s largest receiver of foreign remittances and it made sense to create a […]
Sri Lankan stocks hit new high, end up 2.34-points
Apr 06, 2010 (LBO) – Sri Lankan stocks rallied across the board Tuesday with the All Share Price Index (ASPI) reaching a new high, passing the previous high of 3,844.80 points on March 12, 2010, brokers said. Colombo’s ASPI closed at 3,870.35, up 88.45 points, while the Milanka index of more liquid shares gained 2.12 […]
Sri Lanka exporters have to face stronger rupee: Treasury Secretary
Apr 05, 2010 (LBO) – Sri Lanka’s exporters should get ready to face a steadily strengthening exchange rate and improve productivity to operate in the new environment, Treasury secretary P B Jayasundera said. “Our currency has depreciated but from this year, it will appreciate,” Jayasundera told a forum at central bank’s headquarters in Colombo. “Our […]
Sri Lanka lures Tamil diaspora investment for former war zone
Apr 05, 2010 (LBO) – Sri Lanka’s investment promotion agency said it has set up an office in the former war zone of northern Jaffna to handle foreign investments especially from Tamils who migrated to avoid the conflict. The Board of Investment said in a statement staff at its new Jaffna branch are all Tamil […]
Sri Lanka president seen strengthened by election
April 5, 2010 (AFP) – Sri Lankan President Mahinda Rajapakse, accused by critics of stifling dissent and persecuting the opposition, looks set to consolidate his hold on power in parliamentary elections this week. Rajapakse called Thursday’s vote two months ahead of schedule after his thumping re-election in January and his Freedom Alliance party is in […]
Sri Lankan hydro power producer starts new plant
Apr 05, 2010 (LBO) – Sri Lankan private power producer Vidullanka PLC commissioned and connected its fourth power plant to the national grid on March 26, the company said in a stock exchange filing. The plant is owned by Gurugoda Hydro, a joint venture between Vidullanka and Hiradamani Pvt Ltd. It was built by Vidul […]
Sri Lanka LOLC sets up insurance subsidiary
Apr 05, 2010 (LBO) – Sri Lanka’s Lanka ORIX Leasing Co. (LOLC) has set up an insurance subsidiary as it waits for a license to get into the insurance business, a stock exchange filing said. Lanka ORIX Leasing Co. was the island’s pioneer leasing firm and is backed by ORIX Corporation of Japan. The unit, […]
Election set to strengthen Sri Lanka president
COLOMBO, April 5, 2010 (AFP) – Sri Lankan President Mahinda Rajapakse, accused by critics of stifling dissent and persecuting the opposition, looks set to consolidate his hold on power in parliamentary elections this week. Rajapakse called Thursday’s vote two months ahead of schedule after his thumping re-election in January and his Freedom Alliance party is […]
Sri Lanka boosts UN peacekeeping contingent
April 5, 2010 (AFP) – Sri Lanka’s military on Monday announced a fivefold increase in troops deployed on UN peacekeeping duties around the world, boosting its commitment to 5,000 soldiers. Lieutenant General Jagath Jayasuriya said the defeat of Tamil Tiger separatists last May meant more troops could be sent on UN missions. Sri Lanka has […]