Author: lbostgadmin
Violated
Jan 09, 2010 (LBO) – Sri Lanka’s former chief justice Sarath Silva, a controversial figure who locked horns with the executive in the last stages of his term says the island’s constitution has been hit by a “litany of violations.” In an interview with Namini Wijedasa of Labmimanews newspaper he speaks on the 17th amendment […]
Sri Lanka to export hi-tech sail cloth made by German firm: official
Jan 08, 2010 (LBO) – Sri Lanka will start exporting advanced technology sailcloth for yachts from a factory opened Friday by Dimension Polyant, a German firm, an official said. The firm says it uses technologies developed in aerospace and automotive industries to turn out sailcloth used in sails for racing yachts as well as other […]
Sri Lankan execution video authentic says UN envoy
UNITED NATIONS, January 7, 2010 (AFP) – A UN envoy concluded Thursday that video footage allegedly showing Sri Lankan troops executing Tamil Tiger rebels last year was authentic and urged Colombo to accept an impartial probe. The video, aired on Britain’s Channel 4 in August, “is authentic,” Philip Alston, the UN special rapporteur on extrajudicial, […]
Sri Lanka slammed by media groups over murdered editor
January 8, 2010 (AFP) – International media rights groups criticised Sri Lanka on Friday for failing to identify the assassins of a top anti-establishment editor who was killed exactly a year ago. The Paris-based RSF (Reporters Without Borders) said the authorities had failed to make any headway in solving the killing of Lasantha Wickrematunge, the […]
Sri Lanka Aviva unit to get new managing director
Jan 08, 2010 (LBO) – Sri Lanka’s Eagle Insurance Company, a unit of Aviva, said its managing director Deepal Sooriyaarachchi intends to quit in June this year and will be replaced by a nominee from the Aviva Group. William Lisle, chairman of Eagle Insurance, said in a stock exchange filing that Sooriyaarachchi has expressed his […]
Listing Pressure
HONG KONG, January 8, 2010 (AFP) – Hong Kong ports-to-retail conglomerate Hutchison Whampoa on Friday offered to take its loss-making telecoms subsidiary private in a deal valued at 545 million US dollars. The group, headed by tycoon Li Ka-shing, said the proposal to take over Hutchison Telecom would allow it to manage the troubled firm’s […]
Guilty Plea
NEW YORK, January 7, 2010 (AFP) – A former senior partner in the McKinsey & Co consulting firm pleaded guilty Thursday in New York to taking money for providing tips in the alleged Galleon hedge fund insider trading ring. Anil Kumar pleaded guilty in federal court to conspiracy and securities fraud and said he had […]
Relief
Jan 08, 2010 (LBO) – Sri Lanka’s Central Bank said it will make another part-payment to depositors of Golden Key Credit Card Company, subject to a maximum of 100,000 rupees. A Central Bank statement said arrangements had been made to make part payment of security deposits of 2,506 Golden Key cardholders whose balances are between […]
Yard Plans
Jan 08, 2010 (LBO) – The building of new ports in Sri Lanka has given several expansion options for Colombo Dockyard, a listed ship builder which faces space constraints at Colombo port, an official said. Colombo Dockyard managing director Mangala Yapa said the firm is looking for expansion opportunities as it seeks to increase business […]
Sri Lanka shares close up 1.04-pct, property sector gains
Jan 08, 2010 (LBO) – Sri Lankan stocks edged up Friday as retailers chased mid-cap counters, while selected property development companies were heavily traded, brokers said. The All Share Price Index closed at 3,514.63, up 36.07 points while the more liquid Milanka index gained 0.95 percent (38.12 points) to close at 4,039.36. Turnover was 929.6 […]
Sri Lanka mortgage bank plans term debenture
Jan 08, 2010 (LBO) – Sri Lanka’s Housing Development and Finance Corporation (HDFC) is planning a medium term debenture to be sold during the first quarter of the year to cut funding costs, an official said. The debenture, which is yet to be valued, will be for a period of 5 to 7 years, Suresh […]
Sri Lanka private citizen pension fund promised real returns
Jan 07, 2009 (LBO) – Sri Lanka’s largest state-managed pension fund, made out of forced savings of private citizens, will be given returns above inflation an official said, amid rising concerns over real losses made in recent years. “We will establish a sound risk-return profile to establish a positive real rate of return over the […]