Author: lbostgadmin
Shaky Ground
Sri Lanka was headed Saturday for a shaky coalition government as no clear winner emerged in parliamentary elections called to settle a power struggle that has set back the islands peace process.rnThe party of President Chandrika Kumaratunga, who has accused the incumbent premier of conceding too much to Tamil rebels, said it was prepared to […]
Long Wait
Dissanayake told reporters that he would meet party leaders on Sunday 10.30 am to appraise them of the situation and take a decision thereafter whether to go for a re-poll.rn rnldblquote The earliest we can have a fresh election is within a week,” Dissananayake said.rn rn”We will not release the district results in respect of […]
Crafting Markets
Devendra is putting final touches on a Sesatha, traditionally used as a symbol of power but in modern times a decorative item in homes.Although its usage has changed overtime the process of making one has remained the same over the centuries.rn rnDevendra uses traditional methods passed down through the generations to hand paint a Sesatha. […]
Third Innings
Sanjiva is excited about prospects for open source software in Sri Lanka.Clad in a denim shirt like any other software engineer he is taking some time off from his regular job at IBM to work with some students at the Colombo University.rn rnSanjivas involvement with these tech savvy students comes through the Lanka Software Foundation […]
LIC IPO Soon
Life Insurance Corporation of India is planning to offer a 20 percent stake of its local subsidiary to the public soon.LIC India Managing Director told LBR that the company would also be listed on the Colombo Stock Exchange after the IPO.rn rnBoth major shareholders of the company, LIC and the Bartleets Group will reduce their […]
Early Lead
President Chandrika Kumaratungas United Peoples Freedom Alliance (UPFA) was leading in early returns Saturday in parliamentary elections, which saw Sri Lankans turn out in large numbers to vote in what is seen as a test of peace talks and the health of the economy.The Elections Dept., said the 608,458,postal votes counted so far, gave the […]
Edging Ahead
President Chandrika Kumaratungas United Peoples Freedom Alliance (UPFA) has so far secured just over 47 percent of the votes at Fridays parliamentary poll.The ruling United National Front (UNF) led by Premier Ranil Wickremasinghe, was trailing with a little over 35.2 percent of the total votes counted so far, the Elections Dept said.rn rnThe Buddhist clergy […]
Sailing Off
Colombo Dockyards is sailing off on new business routes to stay comfortably afloat as its shipbuilding and repair operation gets weather trodden. Revenues from shipbuilding fell 96 per cent from Rs.2.5 bn to Rs. 91 mn in 2003, as orders for new ships dried up.rn rnCEO and Chairman Koich Yamanaka said some of main setbacks […]
Poll Jitters
The rupee ended a tad lower against the US dollar on election day, though there were concerns that the currency could face a volatile period, on the outcome of what is expected to be a hung parliament.Trading hours for currency and money markets were shortened for four-hours due to the election.rn rnThe dollar opened at […]
Power Play
The power game is far from over and will continue to play itself out after Fridays general election, say political analysts. rnrn After months of uncertainly rnColombo is steeling itself to put up with a minority government of uncertain rnduration and nature.rn Opinion polls point to a rnlack of a clear majority for either of […]
Third Umpire
Come Friday over 4,000 monitors and 20 international observers will take up positions all islandwide to take note of another Sri Lanka election at the cost of over Rs. 30 mn.ldblquote On Election Day, CMEV (Centre for Monitoring Election Violence) will have 4584 Monitors plus 20 International Observers, making a total of 4604 Monitors, dblquote […]
Revised Edition
A new constitution for Sri Lanka through lquote extra legal measures is the answer, says the UPFA endash but political analysts look at it as lquote out of the frying pan and into the fire.The UPFA (United Peoples Freedom Alliance) is asking for a mandate for lquote extra legal measures to adopt a new constitution.rn […]