Author: lbostgadmin
Sri Lanka elections not free and fair: opposition
April 7, 2010 (AFP) – On the eve of Sri Lanka’s parliamentary elections, the main opposition accused the ruling party Wednesday of campaign abuses and said it did not expect polling to be free and fair. The opposition United National Party (UNP) said President Mahinda Rajapakse’s administration had used state-owned vehicles and buildings for campaigning […]
Sri Lanka plans $230mn waste energy plant
Apr 07, 2010 (LBO) – A Malaysian-Bahraini joint venture, Orizon Renewable Energy, plans to invest 230 million US dollars in Sri Lanka to set up a power plant that will generate energy from solid waste, the investment promotion agency said. “It also will ensure that no more lands are allocated to landfills.” A M C […]
Outsourcing Unit
Apr 07, 2010 (LBO) – India’s MphasiS has received concessions for its outsourcing unit in the island which will employ 500 people, Sri Lanka’s state investment promotion agency said in a statement. Sri Lanka’s Board of Investment said a deal was inked between BOI chief Dhammika Perera and MphasiS Lanka Limited director M G Raghuraman […]
Offshore Supply
Apr 07, 2010 (LBO) – The Sri Lankan unit of international ship supply firm GAC plans to expand its business with the acquisition of more craft, a senior official said. “We plan to invest on another two supply boats,” said Walter Rodrigo, director of GAC Shipping, which has a service from the southern port of […]
Platform Supply
Apr 07, 2010 (LBO) – Sri Lanka’s Colombo Dockyard, a listed ship builder, said it was getting ready to deliver the first of a series of four Multipurpose Platform Supply Vessels for a Singaporean client. Colombo Dockyard is set to deliver six vessels this year, including the Multi Purpose Platform Supply Vessels and a passenger […]
Sri Lankan stocks hit new high
Apr 07, 2010 (LBO) – Sri Lankan stocks hit a record high and passed 3,900 points Wednesday as institutional and high net-worth investors bought index-heavy, high-value shares, brokers said. Colombo’s All Share Price Index (ASPI) closed at 3,909.61, up 39.26 points, while the Milanka index of more liquid shares gained 1.26 percent (56.12 points) to […]
Sri Lanka needs stable economy to progress: CB governor
Apr 06, 2010 (LBO) – Sri Lanka needs a stable economy with low inflation and ‘reasonable’ interest rates to progress and reduce poverty, after recovering from a 30-year war, Central Bank Governor Nivard Cabraal said. In Sri Lanka, for the past several decades, deficit spending governments have created a need for high interest rates but […]
Sri Lanka apparel sector has vacancies: investment chief
Apr 06, 2010 (LBO) – Employment at Sri Lanka’s export processing zones have increased 3.7 percent by end 2009 and there are now unfilled vacancies at some firms, the head of Sri Lanka’s state investment promotion agency said. Deputy director general A M C Kulasekera said firms coming under the agency, which received tax concessions, […]
Oil Move
Apr 06, 2010 (LBO) – Sri Lanka is to broaden its search for offshore oil and offer more exploration blocks in the Cauvery Basin in the island’s north as well as the south, the Central Bank said. The company’s Sri Lankan subsidiary Cairn Lanka has also called for bids to hire drilling rigs and logistic […]
Sri Lanka war-zone doctor stands for parliament
April 6, 2010 (AFP) – A doctor who drew world attention to civilian deaths during the Sri Lankan army’s defeat of Tamil Tiger rebels last year is to contest polls this week for a party that backs the man behind the offensive. Veerakathipillai Shanmugarajah, 40, was detained following the army’s final victory over the Tigers […]
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 […]