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Sangakkara ready for final captaincy tilt
SOUTHAMPTON, June 15, 2011 (AFP) – Former skipper Kumar Sangakkara admitted he was a reluctant captain of Sri Lanka heading into the third and final Test against England at the Rose Bowl. Sangakkara, who stepped down as skipper after Sri Lanka’s World Cup final defeat by India in Mumbai in April, found himself back at […]
Sri Lanka state enterprises need urgent action: report
June 16, 2011 (LBO) – Some state owned enterprises (SOEs) in Sri Lanka that made losses, violated policies and were a drain on taxes and growth, needed immediate action to fix them, the finance ministry has said. “Lack of good corporate practices and management lapses have resulted in compromising the SOEs ability to manage risks […]
Sri Lanka Lighthouse in Rs300mn expansion
June 15, 2011 (LBO) – Listed Lighthouse Hotel, a unit of Sri Lanka’s Jetwing leisure group, is planning a 300 million rupee expansion and upgrade to target up market niche travelers. Built in Galle in Sri Lanka’s south in 1996 the hotel says it conforms to standards conforming to Small Luxury Hotels of the World, […]
Film Reaction
COLOMBO, June 15, 2011 (AFP) – Sri Lanka on Wednesday denied it targeted civilians while crushing Tamil Tiger rebels but said action would be taken if war crimes allegations contained in a new British documentary were true. The Sri Lankan High Commission in London said images shown on Channel 4 on Tuesday night had not […]
UK Call
LONDON, June 14, 2011 (AFP) – Britain on Wednesday said “horrific” footage contained within a film documenting the final weeks of Sri Lanka’s civil war constituted “convincing evidence” of war crimes. The Channel 4 documentary, which aired on British television on Tuesday, contained footage of what it said were prisoner executions. It also showed the […]
Human Smuggling
OTTAWA, June 14, 2011 (AFP) – Canadian police arrested Tuesday four Sri Lankan nationals accused of being behind a 2009 operation that illegally brought 76 Tamils from war-torn Sri Lanka to Canada on a rickety freighter. All 76, including the four people arrested, requested asylum when they arrived off the coast of British Columbia in […]
‘s richest sports body seeks state bank bailout
June, 2011 (AFP) – Sri Lanka Cricket is seeking government grants and a soft loan to meet part of the $69 million it spent on co-hosting the 2011 World Cup, the island’s sports minister said Tuesday. The governing body has asked for a grant of two billion rupees ($18.35 million) and a 1.5-billion-rupee loan from […]
Sri Lanka estate mulls timber exports
June 15, 2011 (LBO) – Sri Lanka’s listed Malwatte Valley Plantations is mulling the possibility of exporting processed timber, as the firm has more than a 1,000 hectares of trees, chairman W L Bogstra told shareholders. “The Company’s timber reserves amounting to 1282 hectares have been sparingly harvested in the past,” Bogstra said in the […]
Sri Lanka Bairaha grows own maize
June 15, 2011 (LBO) – Sri Lanka’s Bairaha poultry group is growing its own grain to ensure feed supplies the company said, as other poultry farmers complained of fresh threats to the industry from maize import controls. Due to loose US monetary policy, global grain prices are also now high. Critics say Sri Lanka’s food […]
Sri Lanka policy rates steady
June 14, 2011 (LBO) – Sri Lanka’s central bank kept policy rates steady in June, saying credit peaked in April and money supply expansion may ease, and international commodity prices are also stabilizing, which will help inflation.Sri Lanka’s 12 month inflation fell to 8.8 percent in May from 9.8 percent in April and remains one […]
Sri Lanka central bank on gold sales
June 14, 2011 (LBO) – Sri Lanka’s central bank said it does not sell gold in the domestic market, but only in the international market adding that it was making the statement in response to recent reports. “The Central Bank manages the official international reserves of the country and maintains its foreign currency balances in […]
Sri Lanka Treasuries yields steady
June 14, 2011 (LBO) – Sri Lanka’s Treasuries yields were steady at this week’s auction though with only the 3-month yield rising 01 basis point to 7. 12 percent, the government’s debt office said. The 6-month yield was flat at 7.21 percent, and the 12-month yield was also flat at 7. 35 percent. The auction […]