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Sri Lanka reconciliation, secular republics in focus
Jan 23, 2012 (LBO) – Building a secular state can prevent oppression of minorities and victims of an arbitrary state should learn to forgive but must also speak out for change, writers participating in a literary festival in Sri Lanka said. India, a land of Maharajahs, became a democracy with voting rights and parliamentary legislating […]
Crude Options
Jan 23, 2012 (LBO) – Sri Lanka will be able to import crude from Iran for at least six months before US sanctions make it impossible for payments to be made to that country, a media report said. Sri Lanka’s The Sunday Times newspaper quoted petroleum minister Susil Premajayantha as saying that talks would be […]
‘s Galle literary festival closes
Jan 23, 2012 (LBO) – Curtains came down on the five-day long Galle Literary Festival on Sunday with discussions on obsessive love, war and Indira Gandhi taking centre stage. Biographers Nayantara Sahgal and Katherine Frank shed light on the iron lady of South Asia, the iconic Indira Gandhi’s political career and how she exercised power […]
Sri Lanka private carrier resumes flights to north
Jan 22, 2012 (LBO) – Sri Lanka’s Expo Aviation will recommence twice daily flights to Jaffna in Sri Lanka’s north using a 12-seater Cessna Grand Caravan aircraft, a media report said. Sri Lanka’s The Sunday Times newspaper quoted Expo Aviation managing director Seraj Mohammed as saying that demand is seen picking up. The firm was […]
Sri Lanka shares end down
Jan 20, 2012 (LBO) – Sri Lankan shares ended weaker once again Friday amid continuing selling pressure with turnover also falling, brokers said. Environmental Resources Invetsments was also heavily traded, closing at 30.10 rupees, down 50 cents. Commercial Bank gained 10 cents to close at 100 rupees. The main All Share Price Index closed down […]
Phishing Attacks
Jan 20, 2012 (LBO) – Sri Lanka’s cyber security agency has warned bank customers using internet banking services to beware of fake sites that have stolen passwords of several users. The Sri Lanka Computer Emergency Response Team Coordination Centre, the centre for cyber security in the island, said they have got about 10 complaints so […]
Merger Watch
Jan 20, 2012 (LBO) – Fitch Ratings Lanka said it has maintained Ceylease Financial Services’ ‘BB+(lka)’ National Long-Term rating on Rating Watch Evolving (RWE). Two state-owned banks control Ceylease with Bank of Ceylon owing a 55 percent stake and a 72 percent stake held by Merchant Bank of Sri Lanka (MBSL). Fitch said in a […]
Sri Lanka Richard Pieris mulls hotel venture
Jan 20, 2012 (LBO) – Sri Lanka’s Richard Pieris & Company group plans to invest in the hotel sector as part of its diversification strategy amid a boom in tourists arrivals, an official said. The company is scouting for a suitable land to build a hotel, the group’s operations director Ravi Liyanage told Vimasuma.com, our […]
Sri Lanka seen needing to improve land, labour productivity
Jan 20, 2012 (LBO) – Sri Lanka’s plantation companies are in crisis with high costs and falling commodity prices that only greater labour and land productivity can overcome, an official said. The island 150-year-old plantation industry needs to rationalize land and labour utilization and management, said Anura Ekanayake, a former Director of Planning at the […]
Recycling Venture
Jan 20, 2012 (LBO) – Sri Lanka’s Kalhari Group has tied up with Epsi Computers for safe disposal of electronic waste which will be exported for recycling, a statement said. œElectronic waste is a new area for us,” Rajapaksa said. “We expect to provide Sri Lankans the facility to easily dispose of their electronic waste […]
Sri Lanka to discourage raw commodity exports
Jan 20, 2012 (LBO) – Sri Lanka’s decision to raise taxes on exports in raw form and reduce those for raw material imports is to encourage local manufacture and value addition, Minister of Industry and Commerce Rishad Bathiudeen said. The island intends to make it more expensive to export rubber, timber and minerals in raw […]
Sri Lanka Treasuries yields flat
Jan 19, 2012 (LBO) – Yields on Sri Lankan Treasury Bills remained mostly flat at Wednesday’s auction for the fourth consecutive week, with 12,693 million rupees of bills sold, the state debt office said. The 3-month yield fell one basis point to 8.67 while the 6-month yield stayed at 8. 71 percent and the 12-month […]