Category:
‘s ex-army chief convicted by court martial
August 13, 2010 (AFP) – A court martial convicted Sri Lanka’s former army chief Sarath Fonseka Friday of dabbling in politics and stripped him of his rank and medals, a senior military source said. “The guilty verdict was read out to General Fonseka at the court martial a short while ago,” the military source told […]
Sri Lanka refugee ship boarded by Canadian navy
VANCOUVER, August 12, 2010 (AFP) – The Canadian navy on Thursday intercepted a cargo ship carrying up to 500 Sri Lankan asylum seekers and prepared to screen them, fearing some belonged to the defeated and banned Tamil Tiger rebels. After days of tracking by Canadian and US authorities, the navy boarded the MV Sun Sea […]
Sri Lanka private investment mooted to free public money for social spending
Aug 13, 2010 (LBO) – Sri Lanka should consider more private investment in education and health in prosperous areas, freeing public money for investment in upgrading in social services in lagging regions, an official said. Anura Ekanayake, chairman of the Ceylon Chamber of Commerce, said there was a huge gap in the investments needed to […]
Sri Lanka selects HSBC, Bank of America, RBS for sovereign bond
Aug 12, 2010 (LBO) – Sri Lanka’s central bank has chosen Hongkong and Shanghai Banking Corporation (HSBC), Bank of America Merrill Lynch and the Royal Bank of Scotland (RBS) to handle a planned billion dollar sovereign bond issue. It said in a statement the three were selected as joint lead managers and bookrunners for the […]
Sri Lanka Treasuries yields continue to fall
Aug 12, 2010 (LBO) – Sri Lanka’s Treasury bill yields fell further at Wednesday’s auction with one year yields falling the most, the government debt office said. The 3-month yield fell 14 basis points to 7. 64 percent, while the 6-month yield was down 18 basis points to 8.30 and the 12-month yield was down […]
Sri Lankan stocks close down 0.86-pct
Aug 12, 2010 (LBO) – Sri Lankan stocks continued to slide Thursday, as retail investors with weak holding strength sold, while selected securities from Environmental Resources Investments group and some midcap shares rose, brokers said. The All Share Price Index closed at 5,034.85, down 0.86 percent (43.79 points) Thursday, while the Milanka index of more […]
Commercial Move
HAMBANTOTA, August 12, 2010 (AFP) – Sri Lanka is preparing to open the first phase of a China-funded, 1. 5-billion-dollar port project that has fuelled Indian concerns over strategic Chinese investment in South Asia. Sitting along the ancient “Silk Road” trading route and one of the world’s busiest shipping lanes, the Hambantota port is intended […]
Bus Business
Aug 12, 2010 (LBO) – Sri Lanka’s People’s Leasing Company has ordered 1,000 buses from India’s Ashok Leyland as post-war growth increases demand for passenger travel, a statement said. Ashok Leyland said in a Bombay Stock Exchange the 1,000-bus order from People’s Leasing in Sri Lanka was worth 26 million US dollars and partly funded […]
Speed
August 12, 2010 (AFP) – Sri Lankan police arrested three Iranian men and seized a haul of methamphetamine with an estimated street value of tens of millions of dollars, a spokesman said Thursday. Two men travelling from Qatar were arrested Wednesday when customs officers at the island’s international airport found more than eight kilos (17. […]
Sri Lanka gets US$18.55mn Indian wind power investment
Aug 12, 2010 (LBO) – An Indian investor is to invest 18. 55 million US dollars to build a 10 mega watt wind power plant in north-western Sri Lanka, the island’s investment promotion agency said. The Board of Investment said it granted investment approval to Powergen Lanka to set up the wind power plant in […]
Ship full of Sri Lankan refugees nears Canada: reports
MONTREAL, August 11, 2010 (AFP) – A ship full of Sri Lankan refugees was less than 320 kilometers (200 miles) from Canada’s western shores and could be arriving late Thursday or Friday, local media said Wednesday. In May last year, capping a four-decade civil war, Sri Lankan government troops finally defeated the separatist Liberation Tigers […]
Sri Lanka to lease prime land, re-settle squatters
Aug 12, 2010 (LBO) – The Sri Lankan plans to develop prime land in Colombo occupied by squatters by leasing some lands and issuing debentures to raise funds for the work, a minister said. Government spokesman Anura Yapa, who is environment minister, said a survey revealed that 66,000 low-income families were living in Colombo and […]