Author: lbostgadmin
‘s sentence
PARIS, September 1, 2009 (AFP) – France sharply rebuked the government of Sri Lanka on Tuesday after a court there sentenced a reporter to 20 years in prison on terrorism charges related to his alleged ties to Tamil rebels. “J.S. Tissainayagam was given this heavy sentence simply for carrying out his profession as a journalist,” […]
Sri Lanka stands ground over jailing of journalist
September 2, 2009 (AFP) – Sri Lanka on Wednesday rejected international criticism of the sentencing of a journalist to 20 years of hard labour over his alleged links to Tamil Tiger separatist rebels.The foreign ministry in Colombo said the widespread condemnation, led by the United States and media rights groups, was an attempt at “undermining […]
Sri Lanka may lose EU trade concessions: report
Aug 02, 2009 (LBO) – Sri Lanka may lose lucrative trade concessions to the European Union as the results of an initial investigation on human rights abuses in the country was very adverse, a media report said. EU has banned the Tigers as terrorists but relations with the West deteriorated in the last stages of […]
Sri Lanka apparel exporter goes east
Sept 02, 2009 (LBO) – A big Sri Lankan apparel exporter has set up a new factory in the east after it was cleared of Tamil Tiger rebels, saying its main baby wear product has not been affected by the slump in demand caused by recession.Kumar Dewapura, chairman of Tristar Apparel Exports, said the 50,000 […]
Bank Rating
Sept 02, 2009 (LBO) – Fitch Ratings said it has confirmed HSBC Sri Lanka’s (HSBCSL) National Long-term rating at ‘AAA(lka)’ with a stable outlook.In addition to conservative write-off policies adopted for unsecured consumer NPLs, HSBCSL’s provisioning is more prudent, with specific provision covering 69 percent of NPLs at FYE08. Profitability as measured by ROA (return […]
‘ Move
Sept 02, 2009 (LBO) – The Asian Shippers’ Council is to relocate its permanent secretariat to Sri Lanka from Singapore following the improved security environment in the island with the end of the 30-year ethnic war, an official said.The ASC has also decided to appoint Rohan Masakorala, former chairman of the Sri Lanka Shippers’ Council, […]
Sri Lankan shares close up 0.91-pct
Sep 02, 2009 (LBO) – Sri Lankan shares closed up on Wednesday as retail investors chased after small and medium sized stocks on a highly speculative market, brokers said. Ceylinco Insurance non-voting shares closed at 135.25 rupees, up 10.25, while Ceylon Grain Elevators closed at 14.25 rupees, up 2.00. Warrats Environmental Resources Investments formerly Walker […]
Sri Lanka tightens rules on forex dealers
Sept 02, 2009 (LBO) – Sri Lanka has tightened rules on foreign exchange dealing issuing a direction that specifies qualifications and experience of dealing room personnel, Central Bank Governor Nivard Cabraal said.The new rules comes soon after Nations Trust Bank, a licensed commercial bank, reported 800 million in forex losses following trades which the bank […]
Sri Lanka jailed reporter named winner of Peter Mackler Award
WASHINGTON, August 31, 2009 (AFP) – J.S. Tissainayagam, a Sri Lankan reporter sentenced Monday to 20 years in prison, has been named the first winner of the Peter Mackler Award for Courageous and Ethical Journalism.“We are happy to reward J.S. Tissainayagam in 2009, a terrible year for Sri Lanka,” said Jean-Francois Julliard, secretary-general of the […]
Sri Lanka must have budget terminal: Air Asia founder
Sept 01, 2009 (LBO) – Air Asia’s flamboyant chief executive says Sri Lankan tourism will get a boost if airport expansion plans include budget carrier-friendly infrastructure to reduce the cost of air travel. Air Asia, which began daily flights to the island from its Kuala Lumpur hub in August, had sold 30,000 tickets before its […]
‘s Maruti Suzuki posts record exports
MUMBAI, September 1, 2009 (AFP) – India’s largest carmaker Maruti Suzuki India, majority-owned by Japan’s Suzuki Motor, announced record exports Tuesday in August, led by strong sales across European markets.Maruti’s exports nearly tripled to 14,847 vehicles during the month, from 5,795 a year earlier, helped by its A-star hatchback launched last November. “Data showed the […]
Emblematic Example
WASHINGTON, August 31, 2009 (AFP) – The United States criticized Sri Lanka Monday for sentencing to 20 years in prison a Tamil reporter whose case has been highlighted by US President Barack Obama. “We were disappointed to learn of the verdict and the severity of the sentence,” State Department deputy spokesman Robert Wood said after […]