Author: lbostgadmin
Sri Lanka begins groundwork for wind power
Dec 09, 2009 (LBO) – Groundwork for Sri Lanka’s largest wind power project has begun ahead of its launch in May next year, with the contract for logistics services given to global firm, Agility Project Logistics. The company has handled over 210 major projects in the past five years and has operations in 120 countries. […]
Sri Lanka war risk insurance costly, says cruise line
Dec 09, 2009 (LBO) – Sri Lanka’s continued listing for war risk insurance is costly for shipping lines calling at Colombo port, a cruise line official said.Khosa said Louis Cruises is offering cruises starting from an all-inclusive rate of 100 dollars a night per passenger accommodated in a basic cabin, and going up to 250 […]
Indian IT industry a target for militants: official
NEW DELHI, December 9, 2009 (AFP) – India’s multi-billion-dollar IT software industry is a target for attacks by militant groups, a top home ministry official warned Wednesday. “We are world leaders in software,” Gopal Pillai, India’s home secretary told a conference on the “Challenge of Terrorism to India’s Infrastructure and Economy” in New Delhi. “The […]
Sri Lanka could use fresh water bodies for premium tourism
Dec 09, 2009 (LBO) – Sri Lankan policy makers should follow the Maldivian example by opening a few dozen of the thousands inland lakes in the country to attract high end tourists willing to pay high premiums for ‘privacy’, a top architect said. “People are willing to pay 200 – 300 dollars on a holiday, […]
Executive Care
Dec 09, 2009 (LBO) – Sri Lankan banks have been urged to select their boards of directors with care to ensure they hire capable people with integrity and not just based on friendship or wealth.Attorney general Mohan Peiris, the government’s chief legal officer, said regulatory standards had been toughened in recent years amid heightened public […]
Sri Lanka shares close flat
Dec 09, 2009 (LBO) – Sri Lankan stocks closed flat Wednesday as investors took profits from recent gains, while high volume trading on John Keells Holdings (JKH) and Nations Trust Bank helped to pushed turnover up, brokers said.The banking sector has been one of the best performers in the last few weeks, so profit taking […]
Sri Lanka Treasuries move up
Dec 09, 2009 (LBO) – Sri Lanka’s three and six month Treasury bill yields moved up for the second week running, the government’s debt office said, as fiscal policy loosened ahead of elections and private sector credit started to expand. The 3-month yield moved up 11 basis points to 7.51 percent and the 6-month bills […]
”’ Sri Lanka: Senate
WASHINGTON, December 7, 2009 (AFP) – A US Senate report warned Monday that Washington risked “losing” Sri Lanka as it recovers from war and called for more active engagement to stop the island drifting from the West.The Senate Foreign Relations Committee, in a bipartisan study, said the United States should be firm on human rights […]
India in new privatization drive
NEW DELHI, December 8, 2009 (AFP) – The Indian government will complete stake sales in three state-run companies by the end of the current financial year in March, Finance Minister Pranab Mukherjee said Tuesday.Divestment of five percent each in the National Thermal Power Corporation and the Rural Electrification Corporation and 10 percent in Satluj Jal […]
Sri Lanka lures Indian tourists by sea
Dec 08, 2009 (LBO) – Sri Lanka has struck a deal with the world’s fifth largest cruise line to attract Indian tourists to the island by cruise ship, officials said. The Tourism Promotion Bureau said the cruise calls are expected to increase the number of Indian tourists visiting the island by 4,000 a month. Its […]
Sri Lanka November tourist arrivals up 20-pct
Dec 08, 2009 (LBO) – Sri Lankan tourist arrivals for November went up 20.1 percent to 44,311 from a year ago, boosted by more visitors from key markets like the United Kingdom, Germany and India, while arrivals from Eastern Europe dipped, tourism data showed. Cumulative arrivals, which had fallen steadily till May, were up 0.4 […]
Bank Watch
Dec 08, 2009 (LBO) – Sri Lanka’s Central Bank is to introduce a mandatory deposit insurance scheme, strengthen bank supervision and launch an internal rating system for banks, governor Nivard Cabraal said.These were some of the new measures the banking regulator is taking to strengthen the island’s financial system to ensure its future stability and […]