Author: lbostgadmin
Rail Finance
Feb 07, 2010 (LBO) – Sri Lanka is financing the purchase of rails to re-build tracks in the former war-torn eastern areas with loans from Hatton National Bank and UniCredit Bank of Austria, a senior minister said. There will be a commitment fee of 5 percent on the undrawn balance of the loan and a […]
Opened Up
GENEVA, February 7, 2010 (AFP) – After relentless international pressure on Swiss banking secrecy, history came full circle last week when Germany decided to use stolen bank data to corner taxpayers with money hidden in Switzerland. Weary Swiss bankers tried to contain another onslaught that shook the remnants of the lucrative wall of secrecy they […]
Sri Lanka under fire for emergency rule
February 6, 2010 (AFP) – Sri Lanka faced criticism Saturday for extending a state of emergency giving sweeping powers to security forces to detain suspects ahead of parliamentary elections due by April. A private poll-monitoring body, the People’s Action for Free and Fair Elections, said continuation of emergency rule could undermine the vote slated to […]
Sri Lanka historic fort to be conserved with Dutch aid
Feb 06, 2010 (LBO) – A Dutch fortress in Sri Lanka built to withstand solid shot artillery in colonial times but which was damaged by Tamil Tiger guns in a modern insurgency is to be conserved with aid from The Netherlands. Originally built by Portuguese colonial rulers in 1619, the fort was rebuilt and expanded […]
Sri Lanka trade deal to be suspended by EU over rights: officials
BRUSSELS, February 5, 2010 (AFP) – EU nations have decided to suspend Sri Lanka’s preferential trade status because of the island’s human rights record and will make the formal move later this month, officials said Friday. “European ambassadors have taken the decision. The EU Commission’s investigation showed Sri Lanka has not demonstrated that it has […]
Sri Lanka in new tea marketing drive
Feb 06, 2010 (LBO) – Sri Lanka™s Tea Board has chosen MTI Consulting, a management consultancy, to develop a strategy to promote Ceylon tea, the island™s main commodity export. The Sri Lanka Tea Board (SLTB) said it chose the firm after a year-long competitive evaluation process. Tea is Sri Lanka™s second largest export earner next […]
Sri Lanka should address fiscal excesses, inflation: S&P
Feb 05, 2010 (LBO) – Sri Lanka’s ‘apparent lack of urgency’ to stop rising inflation and post election spending may put pressure on a deal agreed with the International Monetary Fund, Standard & Poor’s, a rating agency has said. President Mahinda Rajapaksa, re-elected with a stronger mandate, had a “unique opportunity” to “implement comprehensive fiscal […]
Mobile Doctors
Feb 05, 2010 (LBO) – Sri Lanka’s Airtel said appointments with doctors could be made through its network following a tie-up with the e-channelling. com, a web based medical channelling service. Doctors could be channelled by both post paid and pre-paid customers by dialling 225. Chief Executive of Bharti Airtel Lanka, Amali Nayakkara said in […]
Regulator
Feb 05, 2010 (LBO) – Anusha Palpita, head of the government’s information office has been appointed Sri Lanka’s telecom regulator, minister Anura Yapa said. Palpita will be the director general of Sri Lanka Telecom Regulatory Commission in addition to his duties as director of information. Priyantha Kariyapperuma, the previous regulator, resigned on Tuesday
Outsourced Analysis
Feb 05, 2010 (LBO) – An investment research outsourcing firm with offices in Sri Lanka said it has been ranked among top three global vendors for financial services analytics in an annual survey. The annual Black Book of Outsourcing survey for 2009 said Amba emerged as the most preferred vendor in the financial services analytics […]
Drinking Water
Feb 05, 2010 (LBO) – A water supply scheme in Galle district in Sri Lanka’s south will get an additional 2. 5 million Euros of financing from Germany to complete the project after costs escalated, a senior minister said. Germany had given a 15 million Euro grant on December 07, 2009 for the second phase […]
Sri Lanka negotiates OPEC funds for irrigation project
Feb 05, 2010 (LBO) – Sri Lanka has wrapped up a deal to get a 16 million dollar loan from the OPEC Fund for International Development for an irrigation project in the island’s central region, a senior minister said. The Kalu Ganga (river) development project is part of the Moragahakanda development program, information minister Anura […]