Author: lbostgadmin
Sri Lanka Insurance Corp gets new board
June 26, 2009 (LBO) – Sri Lanka’s Supreme Court has approved eight people drawn from the private and public sectors as directors of Sri Lanka Insurance Corporation which it recently ordered returned to state ownership.Lawyers said the eight directors named by court are Pradeepa Kariawasam, Anura Meddegoda, R A Jayatissa, Chithral Amaratunga, Nalaka Godahewa, Ravi […]
Maldives planning US150mn bunker, crude terminal
June 26, 2009 (LBO) – The Indian Ocean archipelago of Maldive Islands is planning a 150 million US dollar crude and bunker facility that can store six million cubic feet of oil, which will be leased to global fuel oil traders, a media report said. The Maldives National Oil Company (MNOC) is considering five possible […]
Indian forces get chilli bombs for crowd control
NEW DELHI, June 26, 2009 (AFP) – Indian soldiers will hurl hand grenades containing red chilli powder to dispel rioters instead of the potentially lethal explosives currently used, an official said Friday.Paramilitary forces have been known to break up protests and conduct counter-insurgency operations using explosives that can cause serious injury and even death. “The […]
Software Support
June 26, 2009 (LBO) – A microfinance software application developed by two Sri Lankan university students has been selected as one of the six finalists to compete in the ‘MashUP’ category at a world information technology competition.The MashUp application ‘Hope for poor – Sasrutha’ developed by the University of Moratuwa students will help both parties […]
Sri Lanka drafts new rules for marine tourism
June 26, 2009 (LBO) – Sri Lanka is drafting new rules to protect the marine environment with tourist ventures such as whale and dolphin watching expected to become big business with the end of the war, a senior official said.Michael noted how unregulated tourism had spoilt some of the island’s best beaches such as in […]
Indian Trade
June 26, 2009 (LBO) – A contract to build a new container terminal in Sri Lanka’s Colombo port, despite delays, will be awarded before the year-end, and the facility will be assured of cargo given Indian growth, a senior official said.Sri Lanka Ports Authority chairman Priyath Bandu Wickrama said that although India had begun expanding […]
Sri Lankan shares down 0.2-pct during week
June 26, 2009 (LBO) – Sri Lankan stocks recovered on Friday, pushed up by retail investors who targeted blue chips and midcap shares, while foreign investors were net sellers during the week, brokers said. The benchmark Colombo All Share Price Index closed up 1.16 percent (28.03 points) to end at 2,447.04 Friday while the Milanka […]
Sri Lanka to resettle war refugees soon: official
NEW DELHI, June 24, 2009 (AFP) – A Sri Lankan official delegation visiting India said on Wednesday Colombo was working to resettle tens of thousands of civilians displaced by fighting on the island.The team said Sri Lanka was also working for the “democratisation” of the country’s north, where fierce fighting earlier this year led to […]
Outsourced Skills
June 25, 2009 (LBO) – A Sri Lankan accountants’ body and the software industry said they have joined hands to promote the island as a business processing outsourcing (BPO) centre for finance and accounting.The drive to promote the BPO industry is being done by the Chartered Institute of Management Accountants (CIMA), Sri Lanka division and […]
Global Tie
June 25, 2009 (LBO) – Sri Lanka’s financial intelligence unit (FIU), said it had joined the Egmont group, a global association of agencies that combat money laundering and terrorist financing. The 116 member group was established in 1995, Sri Lanka’s FIU which functions under the central bank said. The Egmont Group membership will allow Sri […]
Health Needs
June 25, 2009 (LBO) – The World Bank said it has approved a 24 million dollar loan to support Sri Lanka’s state health services mainly in former war-zones in the North and the East of the country. The credit from the International Development Association (IDA), the World Bank™s concessionary lending arm, has 20 years to […]
Banking Services
June 25, 2009 (LBO) – Sri Lanka’s state run Bank of Ceylon has expanded its services inside camps housing nearly 280,000 refugees in the north of the island, adding mobile computerized branches housed in shipping containers. Last week the bank added four retail units to its existing branch in the Manik Farm refugee camp complex […]