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Sri Lanka island resort project off, says Six Senses
Feb 07, 2011 (LBO) – International luxury hotel chain Six Senses has pulled out of a deal to manage a resort being built on an islet off Sri Lanka’s north-west coast, according to company officials. Shivdasani said another project with Sri Lanka’s Aitken Spence group was going ahead near the southern town of Galle with […]
Sri Lanka plans US$90mn sale of east coast land
Feb 07, 2011 (LBO) – Sri Lanka will lease 500 acres of land in the east coast to hotel developers on a one-off payment for around 10 billion rupees (90 million US dollars) and the same model is likely to be followed in the north west Kalpitiya area, an official said. Hong Kong based Shangri-La […]
Mendis, Perera fire Sri Lanka to series-clinching win
February 6, 2011 (AFP) – Ajantha Mendis and Thisara Perera shared seven wickets as Sri Lanka posted a 26-run win over the West Indies in the third one-day international on Sunday to clinch the series 2-0. Sri Lanka showed the depth of their bowling line-up by defending their total of 277-9 and restricting the tourists […]
Sri Lankan floods return, death toll rises to 17
February 7, 2011 (AFP) – Sri Lanka’s latest monsoon rains have claimed at least 17 lives and left around 1.2 million people flooded out of their homes, officials said Monday. The Disaster Management Centre in Colombo said 311,000 people had sought refuge in state-run relief shelters by Monday morning, while approximately 900,000 were living with […]
Oil Spike
SINGAPORE, February 7, 2011 (AFP) – Brent crude prices surged above 100 dollars in Asia on Monday as major regional equities clocked strong performances in their first trading day since the start of the Chinese New Year, analysts said. “Oil was also boosted by US economic figures on Friday that showed jobless rates plunging to […]
Sri Lanka large bank note shows recent inflation: economist
Feb 07, 2011 (LBO) – A large denomination banknote issued by Sri Lanka’s monetary authority is a testament to the recent high inflation created in the country, an economist and opposition lawmaker has said. Sri Lanka’s central bank issued a 5,000 rupee note, more than twice the value of 2,000 rupee, note also issued after […]
Sri Lanka opposition warns of Arab-style uprising
February 5, 2011 (AFP) – Sri Lanka’s main opposition on Saturday warned of an uprising, a day after ruling party activists unleashed violent attacks against demonstrators seeking the release of a jailed opposition leader. The United National Party (UNP) said repeated violence against the opposition, arson attacks on anti-government news organisations and arrests of student […]
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SINGAPORE, February 6, 2011 (AFP) – Asia must prepare for millions of people to flee their homes to safer havens within countries and across borders as weather patterns become more extreme, the Asian Development Bank warns. A draft of an ADB report obtained by AFP over the weekend and confirmed by bank officials cautioned that […]
Pakistan cricket players charged with corruption
LONDON, February 4, 2011 (AFP) – British prosecutors charged Pakistan cricketers Salman Butt, Mohammad Asif and Mohammad Aamer as well as an agent with corruption offences on Friday as an alleged spot-fixing scandal headed towards the courts. The charges relate to alleged incidents during a Test match against England at Lord’s last year, when Britain’s […]
Sri Lanka floods kill 13
February 5, 2011 (AFP) – Renewed rains in Sri Lanka have flooded a large number of towns and villages and killed at least 13 people, officials said Saturday. The new flooding came after the United Nations issued an appeal for 51 million dollars in emergency aid to help up to a million people affected by […]
Sri Lanka to grow fast if policy intentions carried out: IMF
Feb 05, 2011 (LBO) – Sri Lanka has good prospects of sustaining economic growth between 7. 0 to 8.0 percent a year if the declared economic plan is implemented, an International Monetary Fund official said. The state has now unveiled a plan to stop living beyond its means by cutting deficits, which can keep interest […]
Gas Blast
Feb 04, 2011 (LBO) – Repair work on vessels in Colombo Dockyard is continuing uninterrupted after an accidental explosion caused by leaking gas that injured 14 workers, a statement said. The yard is repairing two naval vessels, four tankers and a research vessel along with a liquid petroleum gas carrier owned by the Shipping Corporation […]