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Sri Lanka overreacted to milk contamination: minister
Aug 30, 2013 (LBO) – Sri Lanka has probably overreacted in its response to stories of contaminated milk imported from abroad, information minister Keheliya Rambukwelle said.A trade union went to courts and got an order halting the sales of Fonterra products, and nationalists protested in front of its factory in Sri Lanka, leading to the […]
Lanka steps up attack on UN rights chief
COLOMBO, August 29, 2013 (AFP) – Sri Lanka ratcheted up criticism of the UN human rights body on Thursday, accusing it of repeated “vicious and baseless” allegations, as its chief visited the island to probe alleged war crimes.Foreign Minister Gamini Lakshman Peiris told Navi Pillay that Sri Lanka “resents vicious and baseless positions which are […]
‘s Softlogic debentures oversubscribed
Aug 29, 2013 (LBO) – Sri Lanka’s Softlogic Finance said a debenture offer of 500 million rupees was oversubscribed.The bond sale had attracted orders of 527 million rupees from commercial banks, institutions, development banks, institutions and retail buyers. The firm offered bonds paying a fixed rate annually, every six months and monthly. The sale was […]
Sri Lanka opposition warns on foreign borrowings, exchange rate
Aug 29, 2013 (LBO) – Sri Lanka’s main opposition United National Party has warned on continued foreign borrowings and the current developments in the island’s exchange rate market. Opposition legislator Harsha de Silva said in a statement that banks, including listed NDB and DFCC state banks are being pressured to borrow abroad to ultimately fund […]
How?
WELLINGTON, August 29, 2013 (AFP) – New Zealand demanded answers Thursday about how a false test reading triggered a botulism scare for diary giant Fonterra that forced global product recalls, describing the episode as a costly embarrassment. Officials sounded the alarm earlier this month after tests showed batches of whey power produced by Fonterra were […]
Education Zones
Aug 29, 2013 (LBO) – Sri Lanka will set up investment zones to draw international universities to the country in a bid to boost higher educational services available to the people, a top official said.Sri Lanka’s higher education ministry secretary Sunil Jayantha Nawaratne said ‘free zones’ for education will be set up in Gampaha, Puttalam, […]
Briefing
Aug 29, 2013 (LBO) – A top official of Google, an information technology company will be in Sri Lanka on a chief executive officer’s briefing organized by the island’s IT industry. SLASSCOM, Sri Lanka’s IT and software chamber, said Ann Lavin, director, policy and government affairs, Greater China and Asian growth markets, Google, will deliver […]
Indians made poorer by currency depreciation
NEW DELHI, August 29, 2013 (AFP) – Seventeen-year-old Indian student Appu Sharma was going to apply to a US university to study economics but with the rupee on the ropes, he’s set his sights closer to home.Jayakrishnan declined to name figures but press reports calculated the three-day wedding he helped design for the daughter of […]
Air New Zealand annual profit soars to five-year high
WELLINGTON, August 28, 2013 (AFP) – Air New Zealand posted a 156 percent jump in annual net profit Thursday, the flag carrier’s best result in five years. The airline said net profit for the 12 months to June 30 was NZ2 million (2 million), up from NZ million in the previous year. Chairman John Palmer […]
Reimagining higher education in Sri Lanka
Aug 29, 2013 (LBO) – The following was written as a framing document for the 49th LBO-LBR CEO Forum, held on 27th August 2013. How would you reimagine higher education? Is it centrally planned by the Ministry and the University Grants Commission, or is it a result of decentralized initiative? Imagination is unlimited. But to […]
Sri Lanka slams UN rights body
COLOMBO, August 28, 2013 (AFP) – Sri Lanka’s president has criticised the UN Human Rights Council as its top official toured the battle-scarred nation to probe alleged war crimes, according to state media Wednesday.President Mahinda Rajapakse, who is on a trip to Belarus, has told his counterpart Alexander Lukashenko that both nations are being targeted […]
Sri Lanka to spruce up two cities with World Bank finance
Aug 29, 2013 (LBO) – Sri Lanka will borrow 200 million US dollars from the World Bank to develop two cities, the state information office said. The three year project will boost urban infrastructure in Kandy in central Sri Lanka and Galle in the South. The project will improve traffic and transport and solid waste […]