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Sri Lanka marks Tiger defeat amid probe pressure
June 18, 2010 (AFP) – Sri Lanka staged a delayed victory parade Friday to mark the first anniversary of the end of its 37-year civil war as pressure mounted for a probe into alleged crimes committed during the fighting. President Mahinda Rajapakse took the salute at the ceremony attended by thousands of troops drawn from […]
‘s protest over war crimes panel
June 17, 2010 (AFP) – The United Nations will set up a panel to probe war crimes in Sri Lanka despite repeated protests from the island’s hawkish government, a top UN envoy announced in Colombo on Thursday. Sri Lanka has named a “lessons learnt” panel to study issues that led to conflict, but it has […]
Sri Lanka needs high gear government to drive economic engine: official
June 18, 2010 (LBO) – Sri Lankan private sector is the engine of growth and the government should embrace the Japanese example and formulate policies that would help people run their economic lives smoothly, a senior official said. “Private sector is the engine of growth and the public sector is the gear box,” Sunil Jayantha […]
Sri Lanka tuition ban will hurt poorer students: lawmaker
June 18, 2010 (LBO) – A state decision to ‘ban’ tuition classes in Sri Lanka on Sundays will hurt poor families most as richer people will still be able to bring individual private tutors to their homes, an opposition lawmaker has warned. Police have already started to ‘raid’ cheaper mass tuition classes in rural areas […]
Sri Lankan stocks close flat
June 17, 2010 (LBO) – Sri Lankan stocks closed flat Thursday with Dialog Telekom shares heavily traded, brokers said. Hatton National Bank closed at 294.00 rupees, down 1.00, Nations Trust Bank closed at 49. 75, down 75 cents, Sampath Bank closed at 336. 00 rupees, up 25 cents and Seylan Bank closed at 76.00 rupees, […]
Sri Lanka Serendib Hotels sells stake in Hotel Sigiriya
June 17, 2010 (LBO) – Serendib Hotels has sold part of its stake in Hotel Sigiriya, both part of Sri Lanka’s Hemas group, in a deal worth 40. 6 million rupees, a stock exchange filing said. Serendib Hotels, whose property is on a prime beach front on the south-west coast and is a major shareholder […]
Sri Lanka tea market seen strengthening
June 17, 2010 (LBO) – Sri Lankan tea prices seem to have bottomed out and are likely to gradually rise in future sales as crops come down and global demand remains strong, brokers said. Tea prices rose at this week’s Colombo auction as volumes fell and quality improved. “With crop intakes from most plantation regions […]
Sri Lanka govt pledges more funds from tea export tax
June 17, 2010 (LBO) – Sri Lanka’s new plantations industries minister has promised to give the tea industry more of the funds collected from a tax on tea exports. Sri Lanka tea exporters have warned that the government’s failure to allocate cess funds collected from tea exports for brand building was eroding their competitiveness as […]
Freeing Education
June 17, 2010 (LBO) – Sri Lanka’s president Mahinda Rajapaksa has backed a plan to liberalize university education and set up a mechanism to monitor and evaluate the quality of foreign and local higher education, an official said. A proposal for a ‘National policy framework on higher education and technical and vocational education’ to revamp […]
Sri Lanka power generation up 9.2-pct in first quarter
June 17, 2010 (LBO) – Sri Lanka’s power generation in the first quarter of 2010 has increased 9. 2 percent from a year earlier, with a larger proportion coming from cheaper hydro power amid exceptionally wet weather, official data showed. Private sector operators generated 1,105GWh, down 7.1 percent. Short term or emergency producers operating mainly […]
‘s Sehwag crushes Bangladesh with ball
DAMBULLA, June 16, 2010 (AFP) – Batting star Virender Sehwag turned an unlikely bowling hero as India whipped Bangladesh by six wickets in the Asia Cup on Wednesday. Sehwag grabbed four wickets for six runs with his off-spin as Bangladesh were shot out for 167 in 34. 5 overs after losing their last six batsmen […]
Gas Bid
June 17, 2010 (LBO) – The Sri Lankan government wants to buy back the stake in the Shell Gas unit in the island that had been sold to the multinational in a privatization exercise several years ago, a spokesman said. The state-run Bank of Ceylon has been made an advisor to a committee that will […]