Author: lbostgadmin
Sri Lanka pins economic recovery on post-war revival
June 17, 2009 (LBO) – Sri Lanka’s growth which plummeted to 1.5 percent in the first quarter may pick up later in 2009 with an agriculture and construction led recovery in former war-torn areas coupled with a global green shoots, officials said. The government defeated Tamil Tiger separatists last month in their last redoubt in […]
Sri Lanka public sector scam vies with private sector ones: minister
June 17, 2009 (LBO) – Sections of Sri Lanka’s bloated public sector are stealing peoples’ money in the same corrupt manner as high profile private sector scams, a senior minister said. “More than 140 state owned institutions are running at losses and have to be supported by the Treasury. Some workers don’t even come to […]
Sri Lanka GDP growth slows to 1.5-pct in 2009 first quarter
June 17, 2009 (LBO) – Sri Lanka’s economic growth slowed to 1.5 percent in the first quarter of the 2009, against 6.2 in 2008 and 4.3 percent in the December quarter, officials said. Passenger kilometres flown by Sri Lankan Airlines had fallen 25.0 percent, railway passenger kilometres fell 7.7 percent, while in state bus service […]
Sri Lanka should reach out to Tamil: US envoy nominee
WASHINGTON, June 16, 2009 (AFP) – Sri Lanka needs to reach out to its Tamil minority and improve conditions for hundreds of thousands of displaced after defeating Tiger rebels, the nominee to be the next US ambassador said Tuesday. Patricia Butenis, testifying in a Senate confirmation hearing, said she would also press Sri Lanka to […]
Sri Lanka bank on spinners for success
NOTTINGHAM, June 17, 2009 (AFP) – Sri Lanka expect the spinners to pick up another rich haul when they take on the West Indies in the World Twenty20 semi-final at the Oval on Friday. The Sri Lankans have bulldozed their way through the tournament with five straight wins, mainly on the back of spin twins […]
Business leaders out to put India on US map
WASHINGTON, June 17, 2009 (AFP) – US and Indian business leaders meet Wednesday in a bid to put a new focus on the South Asian power, whose warming US ties have ironically kept it off the new administration’s first priorities.Secretary of State Hillary Clinton is expected to deliver an address charting out the administration’s path […]
Sri Lankan stocks close up 2.2-pct
June 17, 2009 (LBO) – Sri Lankan stocks extended gains Wednesday, as high volume transactions on diversified conglomerates, banks and hotels propped up the market, brokers said. Dialog Telekom, a unit of Telekom Malaysia was active with 1.37 million shares trading mostly at 5.50 rupees, its closing price. Brokers said hotel stocks were also active […]
Sri Lanka central bank cut rates to boost post-war recovery
June 16, 2009 (LBO) – Sri Lanka cut its main policy discount rate by 50 basis points to 11.00 percent to boost credit and support post war economic recovery, amid muted inflation, the Central Bank said. The defeat of Tamil Tigers last month has raised expectations of post war reconstruction and recovery. “The renewed business […]
Gas Diplomacy
June 16, 2009 (LBO) – The Netherland’s envoy to Sri Lanka has raised concerns about the government pricing of liquefied petroleum gas of top Dutch firm Shell Gas, consumer affairs minister Bandula Gunewardene said. Shell has previously attracted criticism for charging high fees for its terminal complex. The minister said he had promised a meeting […]
” struggle for separate state
June 16, 2009 (AFP) – The few surviving leaders of Sri Lanka’s defeated Tamil Tigers announced Tuesday they were reorganising the rebel movement and forming a “transnational government.” The rebel group’s international relations chief, Selvarasa Pathmanathan, said in a recorded message that the organisation would continue to pursue its aim of a separate Tamil state […]
”
MUMBAI, June 16, 2009 (AFP) – A Bollywood director said Tuesday he wants to make a film based on alleged racist attacks on Indian students in Australia, despite an unofficial boycott of the country by his movie colleagues. Megastar Amitabh Bachchan rejected an honorary degree from Brisbane University, telling the authorities that it would be […]
State Club
June 16, 2009 (LBO) – The clubhouse of a golf course which was ordered in to state hands by court over corruption charges is operating as a hotel and starting to generate profits, an official said.The Water’s Edge golf course in Colombo was ordered returned to the state and its clubhouse is now run by […]