Author: lbostgadmin
Skidding Off
Sri Lanka government shelves private sector funded oil refinery project in Sapugaskanda under trade union pressure.Sri Lanka government shelves private sector funded oil refinery project in Sapugaskanda under trade union pressure. Last week, Cabinet gave the green light for a US$ 800 million oil refinery project financed by US company Global Energy Industrial Operations. Global […]
Fly Over
Sri Lanka’s Health Ministry allocates Rs 250 million as initial funding for bird-flue prevention programme. Sri Lanka’s Health Ministry allocates Rs 250 million as initial funding for bird-flue prevention programme. “The prevention programme will increase our capabilities to detect bird flue by increasing laboratory facilities and testing facilities,” said Director General of the Department of […]
Smooth Sailing
Sri Lanka’s John Keells Holdings posted a 12 percent rise in second quarter profits, buoyed by revenues from its transportation unit.Sri Lanka’s John Keells Holdings posted a 12 percent rise in second quarter profits, buoyed by revenues from its transportation unit. Post tax profits for the three months to Sept.30 rose to Rs. 730 million […]
‘s Pan Asia Bank falls short
Sri Lanka’s Pan Asia Banking Corp (PABC) could loose its BB+(sri) rating, if it fails to beef up its capital, Fitch Ratings Lanka warned Thursday. Sri Lanka’s Pan Asia Banking Corp (PABC) could loose its BB+(sri) rating, if it fails to beef up its capital, Fitch Ratings Lanka warned Thursday. As at June 2005, PABC’s […]
Lanka Rating off to a flying start
Lanka Rating Agency, a unit of Malayasia’s Rating Agency Malaysia, has secured 15 mandates in its first few months of operation, officials said Thursday. Lanka Rating Agency, a unit of Malayasia’s Rating Agency Malaysia, has secured 15 mandates in its first few months of operation, officials said Thursday. The island’s second rating agency says credit […]
False Alarm
Ceylon Petroleum Corporation trade unions say they will not go on strike over a new refinery project, pending a meeting with Premier Mahinda Rajapakse.Ceylon Petroleum Corporation trade unions say they will not go on strike over a new refinery project, pending a meeting with Premier Mahinda Rajapakse. “We objected because we were not fully aware […]
Going Somewhere?
Sri Lanka among Asian countries most affected by brain drain, says World Bank study.Sri Lanka among Asian countries most affected by brain drain, says World Bank study. Sri Lanka among countries that see a relatively large proportion of educated people migrating in search of greener pastures, says latest World Bank study on international migration. Although […]
Monitor Mission
EU election monitors in Sri Lanka to keep an eye on November Presidential elections.EU election monitors in Sri Lanka to keep an eye on November Presidential elections. “The European Commission is deploying an EU Election Observation Mission (EOM) for the presidential election scheduled to take place on 17 November following an invitation from the Government […]
Light Sentence
Sri Lanka’s insurance watchdog is asking market players to develop more products to cover against natural perils after last year’s tsunami left behind US$ 130 million worth of claims.Sri Lanka’s insurance watchdog is asking market players to develop more products to cover against natural perils after last year’s tsunami left behind US$ 130 million worth […]
Sri Lankan president, main rival agree on bipartisan peace approach
Sri Lanka’s president and her main political rival have agreed for the first time to forge a bipartisan approach to the island’s peace process aimed at ending decades of ethnic bloodshed, officials on both sides said Tuesday.Sri Lanka’s president and her main political rival have agreed for the first time to forge a bipartisan approach […]
Serious Business
Sri Lanka President Chandrika Kumaratunga Tuesday set up a ministry to exploit the island nation’s petroleum potential and named herself as its minister, a government statement said.Sri Lanka President Chandrika Kumaratunga Tuesday set up a ministry to exploit the island nation’s petroleum potential and named herself as its minister, a government statement said. Kumaratunga’s office […]
SLIC
Officials of some Commercial Bank unions through press conferences and press articles are trying to depict that the shareholders of the Bank, are acting in a manner that is detrimental to the banking sector.Officials of some Commercial Bank unions through press conferences and press articles are trying to depict that the shareholders of the Bank, […]