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Sri Lanka opposition says politicians could be taxed
Jan 12, 2010 (LBO) – Sri Lanka’s opposition says the issue of politicians being taxed could be looked at early in a future new administration if common candidate ex-general Sarath Fonseka becomes president. Fonseka who is backed by both the United National Party and Marxists Janatha Vimukthi Peramuna has promised the 10,000 rupee salary hike […]
‘s war-torn areas to get more funds: World Bank
Jan 12, 2010, (LBO) – Sri Lanka’s war torn areas would get more World Bank funds this year as the region recovers from a 30-year war, with a little over 250 million US dollars already approved, country director Naoko Ishii said. “We have another four programs which will go for board approval when negotiations are […]
Sri Lankan shares close flat
Jan 11, 2010 (LBO) – Sri Lankan shares closed flat Monday as investors continued to bet on hotel, property and plantation stocks while retailers took profits on selected blue chip companies, brokers said. Balangoda Plantations closed at 25.75 rupees, up 75 cents, Bogawantalawa Tea Estates closed at 40.75 rupees, up 1.50, Horana Plantations closed at […]
Northern Links
Jan 11, 2010 (LBO) – Sri Lanka and India has inked a deal to rebuild part of a railway link to the island’s north while negotiations are under way to China to complete the balance, an official said. “India has extended a 425 million dollar concessional credit line and this is part of Indian government […]
Finance Trend
Jan 11, 2009 (LBO) – Sri Lanka’s finance company profits would pick up in 2010 as deposit rates falls, helping offset some credit losses, but asset quality may remain until the economy strengthens, Fitch Ratings has said. A recent sharp fall in bank deposit and lending rates had now started to spread to the finance […]
Bailed Out
COLOMBO, January 11, 2010 (AFP) – Sri Lanka’s court of appeal on Monday freed on bail a Tamil editor whose 20-year prison sentence last year for supporting “terrorism” drew international criticism, a court official said. Official figures show nine journalists have been killed and another 27 assaulted in the past three years in Sri Lanka […]
Battle-scarred Tamils emerge as Sri Lankan kingmakers
January 11, 2010 (AFP) – For decades, Sri Lanka’s Tamil Tiger rebels fought for an independent ethnic homeland. In May they were defeated, but observers say Tamil voters could now be key to who becomes the next president. The two main candidates — incumbent Mahinda Rajapakse and former army chief Sarath Fonseka — both claim […]
Sri Lanka president promises state worker salary hike
Jan 11, 2009 (LBO) – Sri Lanka’s president Mahinda Rajapaksa has promised a 2,500 rupee a month salary hike to state workers, from the next budget due in April, the government’s information office said. In Sri Lanka people outside the state have to bear most of the burden of handouts Sri Lanka’s people have to […]
Higher Education
Jan 10, 2010 (LBO) – Sri Lankan university education despite being available only to the brightest students ranks well below its peers in Asia although academics vow to improve syllabi and facilities to climb the rankings. Academics said the universities have to pay to get the rankings done by various independent organizations. The best known […]
Europe freeze strands travellers, cuts power
BERLIN, January 10, 2010 (AFP) – The Arctic freeze gripping Europe left hundreds of people stuck in vehicles in deep snow or stranded at airports with scores of flights cancelled and power cuts to thousands of homes on Sunday. The treacherous conditions cut off villages in northern Germany and on the Baltic islands, and disrupted […]
Sri Lankan president woos Tamils on re-election trail
January 10, 2010 (AFP) – Sri Lanka’s president on Sunday took his re-election campaign to the Tamil heartland of Jaffna for his first visit to the peninsula since troops crushed separatist Tamil Tiger rebels in May. “There is no transparent basis for the release,” JVP spokesman Anura Kumara Dissanayake told reporters. “We want to know […]
Sri Lanka water supply expansion contract to Chinese firm
Jan 10, 2010 (LBO) – A contract to upgrade the water supply in Sri Lanka’s capital Colombo valued at 1,895 million rupees has been awarded to China Geo Engineering Corporation, the government’s information office said. China Geo will construct ground reservoirs at Maligakanda and Elie House, a water tower at Gothatuwa, a transmission lone from […]