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‘s Commonwealth Games face monsoon test
NEW DELHI, June 13, 2010 (AFP) – New Delhi residents can’t wait for the onset of the monsoon to bring relief from the summer heat, but the impending rains could spell further trouble for Commonwealth Games organisers. “There is no doubt everything will be ready on time, whatever anyone may say,” organising committee secretary-general Lalit […]
Sri Lanka warns private power producers
June 12, 2010 (LBO) – Sri Lanka has warned private power producers that it could go against deals signed to sell power to a state-run power distributor with the government getting into a new drive to cut the utilities losses. Though the plants are governed by tight and complex agreements minister Ranawaka says the government […]
China signs trade deals with Sri Lanka
June 12, 2010 (AFP) – Chinese Vice-Premier Zhang Dejiang held talks with Sri Lanka’s president Saturday after signing six trade and economic deals, the president’s office said in a statement. Zhang had a breakfast meeting with President Mahinda Rajapakse and the two reviewed ongoing Chinese-assisted infrastructure projects. “Today’s meeting followed the signing of agreements between […]
Mahela Jayawardene rules out Sri Lankan political career
June 12, 2010 (LBO) Sri Lanka’s former cricket captain Mahela Jayawardene has ruled out a political career, opting instead to help people through his various charity projects. “Politics is out,” the stylish right-hand batsman told a group of Colombo-based businessmen at a fund raiser for cancer, Colours of Courage. “My wife has threatened to divorce […]
Sri Lanka general urges political solution to Tamil strife
June 11, 2010 (AFP) – Sri Lanka’s army chief on Friday called for a political settlement to the island’s decades-long ethnic strife, a year after the Tamil Tiger rebels were defeated in a major military offensive. Lieutenant General Jagath Jayasuriya warned that although the separatist Liberation Tigers of Tamil Eelam (LTTE) were crushed following the […]
Sri Lankan stocks hit new high
June 11, 2010 (LBO) – Sri Lankan stocks rose to new highs Friday, passing the 4,500 points mark as institutional investors bought blue chips while retailers took profit from over-priced shares and re-invested in cheaper ones, brokers said. The All Share Price Index (ASPI) closed at 4,561.33, up 65.09 points, while the Milanka index of […]
Risk Rating
June 11, 2010 (LBO) – London underwriters have removed Sri Lanka from the area listed for war risk insurance following lobbying by the island’s government that risks have been eliminated with the end of the ethnic war. A statement from the Joint War Committee in London said it recently reviewed the Listed Areas for Hull […]
Maritime Ventures
June 11, 2010 (LBO) – Sri Lanka’s Aitken Spence group said its maritime transportation business division is considering setting up a maritime campus overseas as part of efforts to develop its ports and shipping business abroad. The firm won a ship planning contract for the African ports of Durban, Cape Town and Ngqura during the […]
‘s Carsons group 2010 profits up 84-pct
June 11, 2010 (LBO) – Sri Lanka’s Carsons group profits rose 84 percent to 3.2 billion rupees due to a reversal of an impairment cost from last year and lower finance costs, while revenues grew at a faster rate than operational expenses, its annual report showed. “Brewery capacity would expand by 30 percent within the […]
Sri Lanka Carsons groups palm oil estates under Singapore unit
June 11, 2010 (LBO) – Sri Lanka’s Carsons group has brought all its South East Asian oil palm plantations under its Singapore subsidiary with the transfer of stakes in Indonesian and Malaysian units, a stock exchange filing said. “With the transfer of the assets the plantations land bank and the asset base of GAHL will […]
Direct Links
June 11, 2010 (LBO) – Mobile phone applications have the potential to reduce the gap between rich and poor in developing countries like Sri Lanka, the island’s minister of technology and research said. The mobile phone is joining the personal computer and television in empowering people and giving them access to information to make their […]
Sri Lanka parley mulls action against terrorist financing
June 11, 2010 (LBO) – Ways to counter terrorism and terrorist financing which is becoming increasingly sophisticated were discussed at a meeting of South Asian police and prosecutors in the Sri Lankan capital Colombo this week, officials said. Closer co-operation between police and prosecutors in convicting terrorists and recognizing evidence was also taken up at […]