Category:
Express Bus
Mar 15, 2011 (LBO) – Sri Lanka’s road development and transport authorities are planning bus services for the public on the island’s first expressway part of which is set to open in July, an official said. A fuel station will be set up at Dodangoda in Kalutara on the expressway. Vehicles like three-wheeled auto-rickshaws, motorcycles, […]
Sri Lanka Spence buys Browns hotel shares
Mar 15, 2011 (LBO) – Sri Lanka’s Aitken Spence Hotel Holdings has increased its stake in Browns Beach Hotels, one of the island’s oldest beach resorts which is to be demolished to make way for a new hotel, a statement said. Aitken Spence Hotel Holdings bought 10,000 shares at 21 rupees each, a stock exchange […]
Sri Lanka wards off tuna quota: minister
Mar 16, 2011 (LBO) – Sri Lanka has prevented efforts to restrict her tuna quota in the Indian Ocean Tuna Commission (IOTC), fisheries minister Rajitha Senaratne said. Sri Lanka had revived its activity in the IOTC and was compliant with its rules and did not allow IUU (illegal, unreported, unregistered) fishing,” Senaratne said. Had the […]
Sri Lanka, India talks to end poaching issue
Mar 15, 2011 (LBO) – Sri Lanka is to send a team of officials to India for talks on ending poaching by Indian fishermen in the island’s northern waters, fisheries minister Rajitha Senaratne said. “We hope to sign an agreement with India,” he told a news conference. “We are confident we can resolve this problem […]
Mobile Market
Mar 15, 2011 (LBO) – Profit margins of Sri Lankan mobile phone operators are likely to come under pressure as the market matures and competition intensifies, a Fitch Ratings report said. The industry is now benefitting from the pentup demand from the north and east since the end of the island’s ethnic war in May […]
Fresh riot by asylum seekers on Australian island
SYDNEY, March 15, 2011 (AFP) – Australia’s remote Christmas Island detention centre was hit by a second night of riots on Tuesday, with up to 200 asylum seekers destroying closed-circuit television cameras. It followed a “significant and serious incident” on Monday when police used tear gas to quell a protest of 300 detainees. “We saw […]
Sri Lanka stocks fall sharply
Mar 14, 2011(LBO) – Sri Lankan stocks fell sharply Monday, extending losses from the previous week with forced selling by retail investors sending the market down across-the-board, brokers said. The All Share Price Index closed at 7,169.76, down 1.96 percent (143.26 points) while the Milanka Price Index of more liquid stocks closed at 6,718.07, down […]
Moving Freedom
Mar 14, 2011 (LBO) – Imports of all types of vehicles to Sri Lanka rose 75.9 percent to 359,243 in 2010 amid strong economic growth which increased demand and also a cut in state taxes for cars, government data showed. Imports of motor cars rose four fold to 23,072 in 2010 from 5,762 a year […]
Port Parley
Mar 14, 2011 (LBO) – A German delegation headed by a Sri Lankan-born official from the port of Hamburg held talks with Sri Lanka Ports Authority (SLPA) on assistance and collaboration between the two harbours, a statement said. The construction of the breakwater of the Colombo Port Expansion Project is on schedule and is expected […]
Sri Lanka tourist arrivals up 14.8-pct in Feb
Mar 14, 2011 (LBO) – Sri Lanka’s tourist arrivals rose 14. 8 percent to 65,797 in February 2011 from a year earlier, though visitors from key generating markets in the United Kingdom and Germany dropped. February arrivals were also lower than the January peak of 74,197 as the Western European winter season drew to a […]
Niche Market
Mar 14, 2011 (LBO) – Sri Lanka is becoming an attractive location for ‘Finance and Accounting Outsourcing’ (FAO) with the world’s second largest pool of management accountants and wages lower than India, a report said. “The availability of a large pool of skilled finance and accounting professionals makes FAO one of the most logical niche […]
Australian police use tear gas on asylum seekers
SYDNEY, March 14, 2011 (AFP) – Australian police used tear gas to quell a protest of 300 asylum seekers on remote Christmas Island on Monday, as the government warned of a tense mood within the under-pressure detention centre. More than 6,500 refugees — mostly from Iraq, Afghanistan and Sri Lanka — arrived in Australia last […]