Category: Other
Equity Probe
June 29, 2012 (LBO) – Sri Lanka’s main opposition will push for an independent investigation into stock purchases by a state managed fund of private citizens’ retirement money and officials would be also summoned to parliament, a legislator has said. Harsha de Silva, representing the main opposition United National Party said the EPF had bought […]
Sri Lanka bans exports of rice in new state intervention
June 29, 2012 (LBO) – Sri Lanka said it had banned the export of rice amid a drought to ensure that the “country will have adequate rice stock at affordable prices”, in the latest in a series of ad hoc state interventions in agriculture. Sri Lanka only exports small volumes of rice targeting expatriates or […]
Public Petition
June 25, 2012 (LBO) – A former financial sector professional has written Sri Lanka’s main political parties to help citizens petition parliament over risks facing the island’s banking sector following report by Standard and Poor’s, a rating agency. S & P said Sri Lanka’s banks faced high economic risks and regulatory conflicts, particularly after a […]
Freedom Concerns
June 23, 2012 (LBO) – Friday Forum, a Sri Lankan citizens group has expressed concern over further deterioration of rule of law and religious freedom three years after a 30-year civil war ended. “Three years after the end of the war, we are deeply concerned about the continuing violent political culture, the deterioration of our […]
No Sri Lankans among rescued from stricken refugee boat: foreign ministry
June 22, 2012 (LBO) – There were no Sri Lankans among more than 110 people rescued from a capsized refugee boat by Australian authorities, the foreign ministry said. Australian and Indonesian authorities are continuing to search for around 90 other still believed missing from the boat, the foreign ministry said. Sri Lanka’s foreign ministry said […]
Millions of Bangladeshi apparel workers need bank accounts: IFC
June 22, 2012 (LBO) – International Finance Corporation, a member World Bank arm has said 86 percent of three million apparel sector workers in Bangladesh did not have bank accounts, potentially opening up a large new market for banks. “This report shows that there is a considerable opportunity in offering a range of financial services […]
Sri Lanka tea production down in May
June 20, 2012 (LBO) – Sri Lanka’s tea production fell 8. 4 percent to 30.8 million kilograms in May 2012 from a year earlier, the state tea promotion office said as the country was hit by dry weather. High grown tea fell to 7.36 million kilos from 9.0 kilos, mediums fell to 5.58 million kilos […]
Horton Plains, Sri Lanka explored in new book
June 15, 2012 (LBO) – Sri Lanka’s Horton Plains, a small 30 square kilometer national park with beautiful scenery is a rich reserve of hundreds of endemic plants, animals and birds, that are not always visible to the untrained eye. A new book ‘Horton Plains’ edited by Rohan Pethiyagoda, a Sri Lankan scientist currently in […]
” companies named by ILO
June 09, 2012 (LBO) – A survey by the International Labour Organisation has named seven Sri Lankan companies as having good practices in providing ‘green’ jobs that ensure decent work for employees and environmental sustainability. Use of ‘green’ sustainable initiatives was high among the 50 companies covered in the survey by the ILO and the […]
Sri Lanka biodiversity loss linked to exports to rich countries
The developed world’s insatiable appetite for products like coffee and timber is threatening the survival of one in three vulnerable animal species in poor countries, according to an Australian study. The study showed that in countries like Madagascar, Papua New Guinea, Sri Lanka and Honduras, 50 to 60 percent of biodiversity loss was linked to […]
Sri Lanka CIC Holdings to invest US$14mn in expansion
June 05, 2012 (LBO) – Sri Lanka’s CIC Holdings PLC, with investments from agriculture to paints, plans to invest over 14 million dollars in the coming months, to expand dairy, poultry and healthcare business, an official said. The dairy segment, which includes fresh milk production to yoghurts, will see a 6. 5 million dollar investment […]
Sri Lanka to have India trade show in August
June 04, 2012 (LBO) – An ‘India Show’ will be held in Colombo from August 3, coinciding with a visit bay Indian minister of commerce and industry Anand Sharma to the island to boost trade and investment amid currency trouble in both countries. The Indian High Commission (embassy) said more than 100 Indian firms are […]