Author: lbostgadmin
” operations
July 9, 2009 (AFP) – The International Committee of the Red Cross said Thursday it had been ordered by Sri Lanka to scale down relief operations in the island where it has been helping civilian war victims. As a result, the ICRC said it was withdrawing expatriate staff from the battle-scarred northeast which was the […]
Sri Lanka tells foreign aid agencies to scale down
July 9, 2009 (AFP) – Sri Lanka has directed all international relief agencies, including the Red Cross, to scale down operations following the defeat of the Tamil Tiger rebels, the human rights minister said Thursday.Mahinda Samarasinghe said the directive was not solely aimed at the International Committee of the Red Cross (ICRC) which had first […]
Submarine Links
July 09, 2009 (LBO) – Lanka Bell, a Sri Lankan wireless telecommunications operator, said its investment in an undersea fibre-optic cable had helped increase business and reduce rates.The company said in a statement the rapid expansion of the FLAG (Fiber-optic Link Around the Globe) high-speed submarine cable network has opened up new markets and opportunities […]
Come Back
July 09, 2009 (LBO) – A former Sri Lankan Treasury secretary, P B Jayasundara, who was removed by the Supreme Court, might return to his old job if he is allowed to by a new bench, a senior minister said. Court said conglomerate John Keells Holdings (JKH) which bought the ship fuel business had secured […]
Sri Lanka tourist arrivals up in June
July 09, 2009 (LBO) – Tourist arrivals in to Sri Lanka rose in June 2009, just one month after the ethnic war ended and the first monthly growth in over a year, the tourism promotion office said. The number of visitors to the island went up 8.1 percent in June 2009 to 30,234 from a […]
Sri Lanka Aitken Spence to upgrade oldest hotel to new brand
July 9, 2009 (LBO) – Sri Lanka’s Aitken Spence group said it was upgrading the oldest hotel in its chain to its premium ‘Heritance’ brand which is built to reflect the history of an individual hotel as well as the country it is situated in. Neptune Hotel, which will be closed for refurbishment, was the […]
Forward Looking
July 09, 2008 (LBO) – In a far sighted move that puts the country firmly on a higher growth path Sri Lanka’s central bank Governor Nivard Cabraal has ruled out state directed bank lending as a long term policy.“As a policy we have resisted that (directed lending) because we think that the bank should have […]
Foreign Banks
July 09, 2009 (LBO) – Foreign banks operating in Sri Lanka had maintained or improved profitability in 2008, despite adverse conditions, a report by Fitch Ratings said.Though risk management was good, Fitch said counterparty settlement risks were not studied enough on hedging deals. But the banks are expected to get support from head offices to […]
Sri Lankan stocks down 1.34-pct
July 09, 2009 (LBO) – Sri Lankan shares continued to slide Thursday as retail investors, key drivers of the market in the last six weeks, were forced to sell, brokers said. The benchmark Colombo All Share Price Index closed down 1.34 percent (31.74 points) to end at 2,344.48 on Thursday, while the Milanka index of […]
Sri Lanka foreign aid pipeline narrows
July 8, 2009 (LBO) – Sri Lanka’s foreign aid pipeline from Western nations showed signs of narrowing amid deteriorating relations, though draw downs of previously committed aid continued apace, official data shows.Analysts say fresh aid commitments could arrest the trend later in the year.The power ministry said in June that China was giving an 891 […]
Sri Lanka state revenues down 9.6-pct, deficit up in first 4-months
July 8, 2009 (LBO) – Sri Lanka state revenues fell 9.6 percent while day-to-day expenditure zoomed 34.5 percent driving the revenue deficit up an unprecedented 528 percent to 118.2 billion rupees, the latest official data has revealed. The government had managed to increase capital expenditure by 9.0 percent to 74.6 billion rupees in the period. […]
Fuel Delivery
July 08, 2009 (LBO) – The Sri Lankan unit of Indian Oil Corporation said it has chartered a bunker barge to supply ship fuel in Colombo port as sales were increasing.LIOC is the newest player in Colombo port’s bunker business. Competition in the business has been growing after a court order ended an effective monopoly […]