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Sri Lanka proposed lease tax, foreigner curbs, may hurt property market: developer
May 29, 2013 (LBO) – A proposed tax on leases and restrictions on sale to foreigners may hurt the market, a property development firm has said.“The proposed amendment to the law introducing a prohibition of sale of lands in Sri Lanka to foreign nationals and on imposing a tax on lease value will have a […]
Cricket: Indian chief must quit, says ministry
NEW DELHI, May 29, 2013 (AFP) – India’s sports ministry on Wednesday piled pressure on the chief of the country’s cricket board to quit on “moral grounds” over a widening betting and spot-fixing scandal that has rocked the sport.N. Srinivasan, head of the Board of Control for Cricket in India (BCCI), has been under fire […]
‘ IPL struggles
BIRMINGHAM, United Kingdom, May 28, 2013 (AFP) – Sri Lanka captain Angelo Mathews is confident his side can impress during the upcoming Champions Trophy tournament in the United Kingdom.“Early summer is always going to be like this — wet — and it’s going to swing and seam. “So I think that’s our main challenges as […]
Pros and cons of government ownership in Sri Lanka
May 29, 2013 (LBO) – There is an argument being made in the rich parts of Colombo. It is not being articulated in words, but in deeds. The Navy is running pleasure boat services and restaurants. The army is fixing up walking paths. Government appointees are running the upscale clubhouse at Water’s Edge. Through these […]
UN human rights chief invited to Sri Lanka: foreign ministry
COLOMBO, May 28, 2013 (AFP) – The UN human rights chief has been invited to Sri Lanka in August, the foreign ministry said Tuesday, months after Colombo reacted angrily to her request for a war crimes probe.The High Commissioner for Human Rights Navi Pillay has been invited to the country as part of Colombo’s “continued, […]
Sri Lanka Senkadagala Finance debentures allotted
May 28, 2013 (LBO) – Subscribers to debentures of Sri Lanka’s Senkadagala Finance Plc, rated BBB+(lka) by Fitch will get up to 180,000 the entire amount asked for, in either fixed or floating rate securities. The firm offered to sell 500 million rupees of debt, upsized to a billion rupees if oversubscribed, and offer closed […]
‘s Softlogic Finance raises Rs500mn in debt
May 28, 2013 (LBO) – Sri Lanka’s Softlogic said it had raised 500 million rupees in two year funds by selling securitized debt.The firm said commercial banks, development banks and institutional investors had subscribed to the issue, arranged by Liege Capital with Deutsche Bank as trustee and Nithya Partners as lawyers. The funds raised by […]
Sri Lanka tourism expansion, cement plant by Nepali magnate: report
May 28, 2013 (LBO) – Nepal’s Binod Chaudhary is expanding tourism investments in Sri Lanka and has also got preliminary approval for a greenfield cement factory in the island’s north, a media report said.Sri Lanka’s The Daily Mirror newspaper said Chaudhary is negotiating with owners for land in the Jaffna peninsular to build a 600,000 […]
‘s Malwatte Valley Plantations ups spice, fruit crop
May 28, 2013 (LBO) – Sri Lanka’s Malwatte Valley Plantations Plc, a tea and rubber growing company said it was expanding commercial spice and fruit cultivation.. Chairman Willem Bogtstra told shareholders in an annual review that the firm is focusing on pepper, cardamoms, rambutan, avocado, mango and mandarin, using currently uncultivated land. “During the review […]
Tennis: Sharapova pledges tough love to photo buddy
PARIS, May 27, 2013 (AFP) – Maria Sharapova and highly-rated teenager Eugenie Bouchard have shared a sponsors’ photo-shoot, but the Russian superstar pledged no favours when the pair meet for a place in the French Open last 32.Sharapova, the defending champion and world number two, and 19-year-old Bouchard, last year’s junior Wimbledon winner, are both […]
Way Cleared
May 28, 2013 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation has re-started its 50,000 barrels per day refinery after a crude carrier started discharging cargo through a repaired pipeline, the island’s petroleum ministry said.. The off-shore single point buoy mooring system and pipeline through which crude is unloaded and brought to the refinery was […]
Oil Pipe
May 28, 2013 (LBO) – State-run Ceylon Petroleum Corporation is repairing an off-shore oil pipeline is expected to completed Tuesday allowing crude to be unloaded from a tanker that was standing by, Sri Lanka’s petroleum ministry said.CPC’s refinery was shut after a consignment of crude failed to arrive in time, but when a second tanker […]