Category:
Celebrations as Dalai Lama turns 75
DHARAMSHALA, July 6, 2010 (AFP) – The Dalai Lama marks his 75th birthday on Tuesday, with thousands set to celebrate the occasion in his hometown-in-exile and events planned across the globe from Europe to Australia. The Nobel laureate will address a crowd of 5,000 fans and followers at his temple in McLeod Ganj, a hill […]
Sri Lanka state bank buys into insurance firm
July 06, 2010 (LBO) – Sri Lanka’s state owned Bank of Ceylon (BOC) and its subsidiary Merchant Bank of Sri Lanka (MBSL) has bought 4.1 percent of Janashakthi Insurance for 225 million rupees. In a privately negotiated off-the-floor deal between BOC and its investment banking unit MBCL, 15 million shares of Janashakthi Insurance changed hands […]
Sri Lanka, India in talks on power exchange
July 06, 2010 (LBO) – Sri Lanka and India are having talks on exchanging power to help meet demand during peak times, with the island expecting an energy surplus and no more power cuts, an official said. “It’s like a flower opening. When all these infrastructure projects come into operation there will be a quantitative […]
Sri Lanka mulls geo-thermal energy potential
July 06, 2010 (LBO) – Sri Lanka intends to tap its geo-thermal energy potential and is reviewing its power generation plan to give more emphasis to renewable energy sources, the island’s power minister said. Minister of Power and Energy Patali Champika Ranawaka said government geologists have identified sites with potential to generate geo-thermal energy. “Geo-thermal […]
Australia plans to ship asylum-seekers to Timor
SYDNEY, July 6, 2010 (AFP) – Australia’s new leader Julia Gillard Tuesday revealed surprise plans to ship asylum-seekers to impoverished East Timor, in a pre-election bid to deter migrants fleeing Asian trouble-spots. Gillard said a regional processing centre would “wreck” the people-smuggling trade that brings dozens of rickety boats to Australia’s north, but denied reviving […]
Protests at UN office in Sri Lanka over war panel
July 6, 2010 (AFP) – Protesters led by a Sri Lankan cabinet minister surrounded the United Nations office in Colombo on Tuesday to protest at a UN panel set up to probe war crimes allegations. Housing Minister Wimal Weerawansa shouted slogans as protesters broke through a police barricade guarding the office, witnesses said. “We will […]
Fuel Losses
July 06, 2010 (LBO) – Sri Lanka’s state-owned oil refiner, Ceylon Petroleum Corporation (CPC), continued to suffer losses in the first half of 2010 an official said. The CPC is also owed billions by state institutions which buy fuel from it do not repay, indirectly financing the budget deficit through bank credit. Petroleum ministry secretary […]
Fuel Failure
July 06, 2010 (LBO) – Sri Lanka’s state-owned oil refiner, Ceylon Petroleum Corporation (CPC), suffered a loss of almost 13 billion rupees in the first six months of this year, a senior official said. Petroleum ministry secretary Titus Jayewardene said the refiner, which has a 50,000 barrels a day refinery at Sapugaskanda, north of Colombo, […]
Shell Talks
July 06, 2010 (LBO) – A high powered Sri Lanka government committee tasked with buying back a controlling stake in a gas firm privatized to Shell, a petroleum firm, will meet Friday to decide on its future moves, a top official said. Shell Gas Lanka is the top liquefied petroleum gas (cooking gas) distributor in […]
Sri Lankan stocks close down 0.77-pct
July 05, 2010 (LBO) – Sri Lankan stocks closed lower Monday as retailers took profit on banking stocks and penny stocks continued to be heavily traded brokers said. The All Share Price Index closed at 4,558.48, down 35.17 points, while the more liquid Milanka index fell 1.35 percent (70.53 points) to close at 5,140.28. Turnover […]
Data Host
July 05, 2010 (LBO) – Sri Lanka’s PC House has got approval from the investment promotion agency to set up a subsidiary with an investment of three million dollars to do internet data centre operations, a statement said. The Board of Investment said IDC and information technology outsourcing were seen as businesses with growth potential. […]
Sri Lanka gets daily Emirates flights to Singapore
July 05, 2010 (LBO) – The Dubai-based Emirates airline has started daily services between Colombo and Singapore from July 01 with the addition of two more frequencies to and from the city state, a statement said. Singapore remains one of the most popular destinations out of Colombo for shopping, leisure and business travel, said Devika […]