Author: lbostgadmin
Train Trouble
July 27, 2009 (LBO) – Sri Lanka’s railway needs to raise fares and train travellers must be prepared to pay more to reduce losses and make the state-owned service viable, experts said.This would ensure enough traffic so the train services could be run profitably, perhaps with private sector investment. The same approach could be followed […]
Sri Lankan stocks up
July 27, 2009 (LBO) – Sri Lankan shares made further gains Monday as selected blue chips like Commercial Bank, Dialog Telekom and Distilleries pushed indices up, brokers said. People’s Leasing mopped up most of the floating Seylan Merchant Leasing shares on a mandatory offer. The benchmark Colombo All Share Price Index (ASPI) closed up 1.44 […]
Sri Lanka central bank to clean up data act under IMF program
July 26, 2009 (LBO) – Sri Lanka’s central bank will improve data reporting following the approval of a 2.6 billion US dollar facility by the International Monetary Fund, a loan document released by the monetary authority said. IMF sent a ‘safeguards assessment’ mission to the central bank in May to ensure that its funds could […]
Sri Lanka IMF program a framework for donor support: mission chief
July 26, 2009 (LBO) – A 20-month International Monetary Fund backed economic plan will boost Sri Lanka’s reserves and provide a framework for donors to back post-war reconstruction, an official who led the mission to the island said. Though an immediate priority of the government was providing relief to refugees, reconstruction needs would grow over […]
‘s tryst with truth draws protests
NEW DELHI, July 26, 2009 (AFP) – The Indian version of a US reality TV show that extracts secrets from minor celebrities has caused protests and a furore in parliament with its focus on infidelity, incest and other taboo subjects. Indian Express columnist Shubhra Gupta was similarly insistent that viewers should be the final arbiters […]
Slow Lane
July 26, 2009 (LBO) – Too many transport ministries and agencies which do not co-ordinate effectively has resulted in poor transport service in Sri Lanka and delayed its aim of becoming a hub, an expert said. There were also high levels of exclusion between different modes – land, water, air – with three ministries involved. […]
Sri Lanka gets US$2.6bn from IMF on tight budget, rupee flexibility
July 25, 2009 (LBO) – The International Monetary Fund has approved a 2.6 billion US dollar loan to Sri Lanka with a 322 million dollar tranche being immediately disbursed on a program that is aiming to keep the budget deficit at 7.0 percent of the economy. The IMF said a combination of short term foreign […]
Tech Venture
July 25, 2009 (LBO) – Sri Lanka’s Aitken Spence had formed a company to develop hotel sector software, California Software Company Limited (Calsoft), a Bombay listed Indian information technology firm has said. The company will develop software targeting businesses operating in the hospitality industry at first. The joint venture firm named ‘CalSpence’ will have its […]
Court Block
July 25, 2009 (AFP) – A Sri Lankan court has ordered a dozen websites to be blocked for allegedly containing pornographic material involving local women and children, a press report said Saturday.The Telecommunications Regulatory Commission (TRC) was asked to block access to the 12 websites, including redtube.com, an adult-content sharing portal, the Lankadeepa newspaper said. […]
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GENEVA, July 23, 2009 (AFP) – Fifty-nine journalists have been killed around the world so far this year, in an alarming rise from 2008 that has become a “bloodbath” of the media, a watchdog said Thursday. Abdel Nabi said the UN Human Rights Council was “impotent” in protecting journalists. The PEC expressed concern about election […]
‘s Sangakkara ton frustrates Pakistan in drawn Test
July 24, 2009 (AFP) – Kumar Sangakkara hit an unbeaten century to steer Sri Lanka to a draw in the final Test against Pakistan here on Friday and win his first series as captain.The left-hander made 130 not out as Sri Lanka, faced with a world record target of 492, defied the Pakistani bowlers to […]
Sri Lanka power output down in May, diesel sales up
July 24, 2009 (LBO) – Sri Lanka’s electricity generation in May 2009 fell 3.6 percent to 834 million units (GigaWatt hours) from a year earlier, while diesel sales were up 22.2 percent, the latest government data showed.Thermal power generation at state-run Ceylon Electricity Board (CEB) tripled to 243 million units from 81GWh a year earlier […]