Author: lbostgadmin
US House of representatives pressures Sri Lanka on refugee camps
WASHINGTON, November 4, 2009 (AFP) – The US House of Representatives urged Sri Lanka’s government Wednesday to guarantee the safety and quick release of some 300,000 Tamils and other war-displaced people currently held in camps.By an overwhelming 421-1 vote, lawmakers approved a non-binding resolution that calls on the authorities in Colombo to help the populations […]
Maldives to build wind power plant to become carbon neutral
Nov 05, 2009 (LBO) – The state power utility of the Indian Ocean atoll state of Maldives has signed a 20-year deal with Falcon Energy, a private firm to build and operate a 75MegaWatt wind farm as part of a plan to become a carbon neutral nation. The wind farm built a cost of 200 […]
Sri Lankan general returns without war crimes grilling
November 5, 2009 (AFP) – Sri Lanka’s top military officer returned home Thursday after he was allowed to complete a US visit without being questioned over alleged war crimes against Tamil civilians.General Sarath Fonseka arrived at Bandaranaike International Airport and was immediately driven away under tight security, an airport official said. “He arrived this morning […]
Sri Lanka John Keells agents for Air Mauritius
Nov 05, 2009 (LBO) – Mack Air (Pvt) Ltd, a unit of listed John Keells Holdings (JKH) said had been appointed the general sales agent for Air Mauritius in Sri Lanka from November 01. Romesh David who heads the transportation division of JKH said it will work with the airline to develop traffic between the […]
Sri Lanka president announces wage hike for troops
November 5, 2009 (AFP) – Sri Lanka’s president has announced an immediate salary increase for all members of the country’s armed forces amid plans to boost the strength of the security services.President Mahinda Rajapakse granted the unspecified salary increase during a visit Wednesday to the island’s northern regions, which were recently wrested from Tamil rebel […]
Protection Deal
Nov 05, 2009 (LBO) – Sri Lanka and Kuwait has signed an Investment Promotion & Protection Agreement (IPPA) Thursday between the island’s envoy to the country and a senior finance ministry official of the Gulf state, the foreign ministry said. Sri Lanka’s foreign ministry quoted the undersecretary to the Kuwaiti ministry of finance Khalifa M […]
Profit Margins
Nov 05, 2009 (LBO) – Sri Lanka’s Sampath Bank group’s net profit for the September 2009 quarter rose 35.8 percent from a year earlier, as margins improved with higher lending to government. Gross assets grew to 153.7 billion rupees (up 8.0 percent) and net assets to 10.9 billion rupees p 10.2 percent. Revenues rose 10.5 […]
Navigation Move
Nov 05, 2009 (LBO) – Colombo port has re-opened its northern entrance channel which had been closed for years owing to the threat of attacks by Tamil Tiger separatists who were defeated by government forces in May. But it had been completely closed since the airport attack. The Tamil separatists’ naval wing, the Sea Tigers, […]
Sri Lanka stocks close 1.6-pct lower
Nov 05, 2009 (LBO) – Sri Lanka’s stocks closed 1.65 percent lower Thursday, falling for the third straight day in a continuing correction, despite banks reporting strong earnings in the September quarter season, brokers said. Despite heading for polls in the first quarter of 2010, the government opted to have a ‘vote on account’ instead […]
Sri Lanka central bank to relax exchange controls
Nov 05, 2009 (LBO) – Sri Lanka’s central bank is planning to relax exchange controls allowing up to 500,000 US dollars to be taken out for investment purposes without approval of the central bank, a media report said. Before the creation of the Central Bank in 1950, Sri Lanka had a currency board with an […]
Sri Lanka fiscal discipline key to economic growth: report
Nov 04, 2009 (LBO) – Fiscal discipline by Sri Lanka’s government will be critical to ensure economic recovery and sustained, high growth anticipated with the end of the ethnic war, RAM Ratings agency said. “Sri Lanka is now well poised to achieve high sustainable growth, as the end of the armed conflict provides the government […]
Fed Printing
NEW YORK, November 3, 2009 (AFP) – Oil prices leapt Tuesday as commodities gained a boost from gold, which struck an all-time high above 1,000 dollars an ounce as markets fret about the prospects of global recovery from recession.New York’s main contract, light sweet crude for delivery in December, rose 1.47 dollars to close at […]