Author: lbostgadmin
Sri Lanka Tamil Tiger fund raising revealed in Canada
May 27, 2008 (LBO) – A Canadian court have released documents seized from Sri Lankan Tamil Tiger sympathisers that provide more evidence of rebel fund raising efforts. He said he was “expecting a huge sum” of money and that Tamil activists should “act accordingly,” says the document, written by the Tamil Tigers International Coordination Centre […]
Engineering Row
May 27, 2008 (LBO) – Sri Lanka’s state-enterprise engineers are starting industrial action after the government denied them tax-slashed cars, with a warning of tougher measures if no notice is taken of their demands within the next two weeks. Other officers in state-enterprises and statutory bodies have also been denied the privilege. But engineers say […]
Sri Lanka tea price fall squeezes producer margins
May 27, 2008 (LBO) – The fall in tea prices in recent weeks owing to the seasonal increase in supply and lower quality has put producers’ margins under pressure, brokers said. It came during the island’s Western quality season when teas from the western slopes of the central hills are at their best quality and […]
On Track
May 27, 2008 (LBO) – Sri Lanka railways will almost double rail fares to reduce losses and its dependence on government handouts as fuel prices continue to move up, officials said. From Monday fares of privately owned buses were raised by 27.2 percent and state-run buses by 17.0 percent. Rail fares were last raised in […]
Gas Conversion
May 27, 2008 (LBO) – Sri Lanka’s will give state assistance to convert petrol driven three-wheeler taxis to liquefied petroleum gas which can slash running costs by 40 percent and clear up pollution, officials said. Minister Alahapperuma says the government is looking at a soft loan scheme to cover at least half of the cost. […]
Sri Lankan shares slide amid war jitters
May 27, 2008 (LBO) – Sri Lankan share prices weakened further Tuesday, with the main index losing half a percentage point a day after a bomb ripped through a crowded passenger train in the capital killing at least nine people.Another bombing inside the city on May 16 killed 13 people and wounded more than 80 […]
Sri Lanka central bank says inflation would be higher than target
May 26, 2008 (LBO) – Sri Lanka’s central bank said inflation would be higher than targeted in 2008, as the monetary authority found it difficult to counter pressures from rising commodity prices, especially oil. “In the circumstances there is a strong likelihood of the actual 2008 inflation being significantly higher than the previous estimates..,” the […]
Sri Lanka minister threatens mandated wage hike
May 26, 2008 (LBO) – Sri Lanka’s labour minister threatened to mandate a private sector wage hike the same day the island’s monetary authority said it was trying to contain ‘second round’ effects on inflation. The minister of labour, Athauda Seneviratne told our sister site vimasuma.com that the government had decided the private sector should […]
Targeting Exercise
May 26, 2008 (LBO) – Sri Lanka is developing a scheme to pay fuel subsidies to bus operators that may cost the exchequer 7.0 billion rupees a year, officials said, after a steep rise in diesel pushed up fares. Sri Lanka has a practice of under-pricing diesel because authorities believe that inflation is a petroleum […]
Sri Lanka train blast near capital
May 26, 2008 (LBO) – A blast ripped through a train in a suburb of Sri Lanka’s capital Colombo during the evening rush hour, police said. Updated For updates on this story go to www.lbo.lk front page or www. For updates in Sinhala go to www.vimasuma.com Police spokesman Ranjith Gunesekera said a number of passengers […]
Sri Lanka train blast kills seven, scores injured
May 26, 2008 (LBO) – A blast ripped through a train in a suburb of Sri Lanka’s capital Colombo during the evening rush hour, killing at least seven and injuring 62, the security media centre said. Military spokesman Udaya Nanayakkara said the blast went off near the Dehiwela station south of the capital. An official […]
Kenya hit by nationwide power outage, sparking panic
NAIROBI, May 25, 2008 (AFP) – A nationwide power outage hit Kenya on Sunday as a result of a transmission fault from its hydro-electric plants, officials said, sparking panic in the east African nation. The hydro-electric plants’ owners, official power generator KenGen, produces about 80 percent of electricity consumed in the country, using hydro, geothermal, […]