Author: lbostgadmin
Canada suspends Commonwealth funding over Sri Lanka rights abuses
OTTAWA, April 14, 2014 (AFP) – Canada’s government announced Monday the suspension of funding to the Commonwealth over rotating chair Sri Lanka’s alleged rights abuses.While Sri Lanka remains chair of the 53-member bloc, Canada’s Can$10 million (US$9 million) annual contribution to the Commonwealth Secretariat will instead go for two years toward combatting the practice of […]
” Commonwealth
COLOMBO, April 15, 2014 (AFP) – Sri Lanka on Tuesday accused Canada of undermining the Commonwealth to score political points after it announced a suspension of funding while the island nation chairs the group.Colombo has denied the accusations, but the UN Human Rights Council passed a resolution in March to set up an investigation into […]
Indian opposition alliance to win majority: poll
NEW DELHI, April 15, 2014 (AFP) – India’s Hindu nationalist opposition party and its allies are on course to win an overall parliamentary majority in the world’s biggest election currently underway, according to a new poll.Another potential partner, a Tamil Nadu-based party led by former actress Jayalalithaa Jayaram, is slated to get 22 seats. The […]
Sri Lanka cautioned on rising renewable energy costs
Apr 14, 2014 (LBO) – Sri Lanka’s central bank has sounded a note of caution of caution over the rising burden of renewable power on consumers as the proportion of non-conventional renewable power (NCRE) increases in the grid.Mini-hydro feed in tariffs are among the cheapest.Almost all sources non-conventional of renewable power except waste heat are […]
Cricket stars among team owners in new India football league
NEW DELHI, April 13, 2014 (AFP) – Cricket stars Sachin Tendulkar and Sourav Ganguly and leading Spanish club Atletico Madrid are among the owners of teams in a new India football league set to start this year, organisers said Sunday.The Indian Super League, featuring foreign and Indian talent in teams based in eight cities, is […]
Sri Lanka firms short of workers, over 10,000 working on tourist visas: President
Apr 13, 2014 (LBO) – Sri Lankan firms are asking to employ more foreign workers to fill labour shortfalls, with over 10,000 working in the country on tourist visas, President Mahinda Rajapaksa said.“Some companies come and say, allow us to bring workers from abroad, from India,” President Rajapaksa told a business forum where the annual […]
‘s English county stint
LAHORE, April 12, 2014 (AFP) – Pakistan off-spinner Saeed Ajmal’s stint with English county Worcestershire may be set for a shorter duration to compensate for his country’s hastily-arranged Test and one-day series against Sri Lanka. “We are still discussing how much time he (Ajmal) can be away as we now have a scheduled series in […]
Settlement
Apr 12, 2014 (LBO) – Sri Lanka Telecom Plc, said it will pay Just In Time Holdings (Pvt) Ltd, which had supplied IPTV equipment, 673 million rupees, which includes legal costs and 171 million rupees in interest.Sri Lanka Telecom will make an immediate payment of 502 million rupees for set top boxes and legal costs, […]
Private Equity
Apr 12, 2014 (LBO) – International Finance Corporation, a World Bank arm said it will invest 10 million US dollars in Emerald Sri Lanka Fund I, a 50 million US dollar private equity fund focused on the island.The fund will be run NDB Zephyr Partners, a joint venture between by New York based Zephyr Management […]
Sri Lanka generates one third of electric energy from coal
Apr 11, 2014 (LBO) – With a second 300 MegaWatt power plant beginning test runs, more than one third of Sri Lanka’s daily electricity needs are now being generated from coal-fired energy, official data show.On the April 09, out of the daily energy requirement of 35.6 GigaWatt hours (millions of units of electricity), 35.6 percent […]
‘s CEB posts profits in 2013, with rains, tariff hike
Apr 11, 2014 (LBO) – Sri Lanka Ceylon Electricity Board has made operating profits of 24.6 billion rupees in 2013, the Central Bank said, amid reports that it had lost 24.3 billion rupees in the first quarter of 2014 due to a drought. In 2013 power sales had rise 1.4 percent to 10,475 GigaWatt hours […]
Sri Lanka troops kill emerging Tiger leaders: official
COLOMBO, April 11, 2014 (AFP) – Sri Lanka’s military on Friday shot dead three men they believed were trying to revive the separatist Tamil Tiger movement five years after its defeat, a spokesman said.Military spokesman Brigadier Ruwan Wanigasooriya said troops killed the three, including a man they identified as a local leader of the Tigers, […]