Author: lbostgadmin
Sri Lanka must tackle corruption to lure investors: US envoy
Nov 27, 2009 (LBO) – Sri Lanka must act against corrupt government officials and businessmen and ensure local firms play fair with foreign companies if it wants to attract investors, the American envoy to the island has said. It needs to unshackle the media, be more open to trade and better protect intellectual property rights […]
Sri Lanka gets new tourism minister
Nov 27, 2009 (LBO) – Achala Jagoda, a parliamentarian representing the National Freedom Front, an ally of the ruling coalition has been appointed the island’s new tourism minister, the government’s information office said.Nandana Gunatileke, the former minister left the NFF, which is a breakaway faction of Sri Lanka Marxist Nationalist Janatha Vimukthi Peramuna. Gunatileke has […]
Sri Lanka to hold presidential poll Jan 26: election office
November 27, 2009 (AFP) – Sri Lanka’s electoral office said Friday that presidential elections would be held on January 26, with President Mahinda Rajapakse expected to face his former military chief Sarath Fonseka.“Elections will be held on the 26th of January,” Dayananda Dissanayake, the commissioner of elections, told AFP by telephone. Rajapakse, 64, called the […]
India thrash Sri Lanka to claim 100th Test win
KANPUR, November 27, 2009 (AFP) – India thumped Sri Lanka by an innings and 144 runs on the fourth day of the second cricket Test here on Friday to take a 1-0 lead in the three-match series. It was the 100th Test victory for India and the biggest against Sri Lanka, bettering the previous win […]
Sri Lanka worried by fading Murali magic
KANPUR, November 27, 2009 (AFP) – The indifferent form of spin legend Muttiah Muralitharan is a cause of worry going into the series decider in Mumbai, Sri Lankan captain Kumar Sangakkara said here on Friday.“It does bother us when our star bowler does not pick too many wickets when we know he can,” Sangakkara said […]
Sri Lanka farmers connect to markets on mobile phones
Nov 27, 2009 (LBO) – A trial Sri Lankan commodity trade matching portal using mobile phones to improve marketing of farmer produce will need private sector investment to be sustainable, an official said. Chitranganie Mubarak, a Senior Programme Head of the Information Communications Technology Agency (ICTA), said the project is part of efforts to use […]
‘s eco-tourism
Nov 27, 2009 (LBO) – A photographic exhibition in Colombo makes a case for Sri Lanka eco-tourism, encouraging visitors to experience the island’s rich biodiversity, within a renewed climate of peace in the country. The exhibition is on at the Alliance Francaise in Colombo until December 15, 2009. From Little Egrets in Mannar, Spinner Dolphins […]
Troubled Times
Nov 27, 2009 (LBO) – Sri Lanka’s The Finance Company, a firm in the troubled Ceylinco group that is being re-structured under regulatory supervision, has been downgraded to ‘C(lka)’ or one notch above default, Fitch Ratings Lanka said.Fitch said The Finance Company’s national rating and its subordinate debenture’s rating has both been downgrade to ‘C(lka)’.Both […]
Southern Chance
Nov 27, 2009 (LBO) – The Sri Lanka Ports Authority will issue a request for proposals for investments in a new port being built in the island’s southern Hambantota region by the second week of December, an official said.SLPA chairman Priyath Wickrama said business opportunities in the new port range from cement grinding and bagging, […]
Sri Lanka stocks rebound, Galleon sells Ceylon Leather
Nov 27, 2009 (LBO) – Sri Lankan shares made a strong recovery Friday while Raj Rajaratnam, the billionaire fund manager accused of insider dealing in the US, sold out of Ceylon Leather Products, brokers and analysts said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All […]
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Nov 27, 2009 (LBO) – The Sri Lanka rupee started trading in a band Friday after a state bank that usually acts for the monetary authority quoted a wide two way price, dealers said. Many high inflation countries which are prone to macro-economic instability and balance of payments crisis, have experimented with soft pegs of […]
Sri Lanka buys 10 tonnes of gold from IMF
Nov 25, 2009 (LBO) – Sri Lanka has bought 10 metric tonnes of gold for 375 million US dollars from the International Monetary Fund, following in the wake of India and Mauritius, the international monetary watchdog said. The IMF said the deal was made at November 23 prices. Sri Lanka’s central bank Governor Nivard Cabraal […]