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Sri Lanka 700-room hotel chain planned by Best Western
Mar 28, 2014 (LBO) – US based Best Western, is planning a 700-room strong chain partnering with Sri Lanka’s Elyon Hotels as the island draws more visitors after the end of a 30-year civil war, officials said. The firm is expecting regional travellers to make bulk of its bookings in Sri Lanka. “After the war […]
Sri Lanka claims moral victory from war crimes vote
COLOMBO, March 28, 2014 (AFP) – Sri Lanka tried to claim a moral victory Friday and insisted it would push on with reconciliation efforts after being censured by the UN’s top rights body for failing to bring perpetrators of war crimes to justice.The US-initiated resolution was carried at the UN Human Rights Council in Geneva […]
Sri Lanka frees India fishermen after UN vote abstention
COLOMBO, March 28, 2014 (AFP) – Sri Lanka’s president Friday ordered the release of Indian fishermen detained for poaching after New Delhi surprisingly refused to back a US-led censure motion against Colombo at the UN’s top rights body.The exact number of fishermen who were released was not immediately known but several dozens are thought to […]
Sri Lanka EPF 2011 accounts to be tabled in parliament shortly: Central Bank
Mar 27, 2014 (LBO) – Audited 2011 accounts of Sri Lanka’s Employees’ Provident Fund a retirement fund of private citizens, would be presented to parliament shortly, the Central Bank, its manager said.Opposition legislator Harsha de Silva has repeatedly called for the accounts to be presented to parliament and has also said some of its stock […]
Sri Lanka stocks close up 0.7-pct
Mar 27, 2014 (LBO) – Sri Lanka’s stocks close 0.70 percent higher Thursday with diversified John Keells Holdings and Sri Lanka Telecom gaining, brokers said. The Colombo benchmark All Share Price Index closed 41.65 points higher at 5,992.62 up 0.70 percent. The S&P SL20 closed 13.10 points higher at 3,274.15, up 0.40 percent. Turnover was […]
Top Rating
Mar 27, 2014 (LBO) – Fitch Ratings has confirmed an ‘AAA(lka)’ rating of HSBC’s Sri Lanka branch with a stable outlook. HSBC has seen loans growing 6.1 percent in the nine months to September 2013. Large corporate customers made up 64 percent of its rupee loans. Of the retail loan book, 43 percent was from […]
Higher Learning
Mar 27, 2014 (LBO) – Indunil Liyanage, Chief Marketing Officer of state-run Bank of Ceylon has conferred a Doctor of Philosophy (PhD) by Colombo University.His doctoral thesis, on ‘Role Stressors and the Impact of Coping styles on Perceived Job Performance’ was based on 5-years of research. Liyanage already holds a Masters degree in management from […]
Cable Centre
Mar 27, 2014 (LBO) – Sri Lanka Telecom said it is forming a venture with Indian Ocean Cableship (Pvt) Ltd, a Singapore based firm, to set up an undersea cable maintenance base at Hambantota port in the island’s south.The SEA-ME-WE-05 cable, the latest in a series of cables running from South East Asia to Europe […]
UN rights council launches Sri Lanka war crimes probe
GENEVA, March 27, 2014 (AFP) – The UN Human Rights Council on Thursday launched an inquiry into alleged war crimes in Sri Lanka, despite Colombo’s fierce efforts to block an investigation.But they question the credibility of his efforts to come clean on the past and to stem what they say are ongoing rights violations. “The […]
Sri Lanka rejects UN rights probe, president tells AFP
COLOMBO, March 27, 2014 (AFP) – Sri Lankan President Mahinda Rajapakse rejected Thursday’s UN Human Rights Council resolution ordering a war crimes probe, telling AFP that he would instead press ahead with his own reconciliation plan.“We reject this,” Rajapakse said. “This resolution only hurts our reconciliation efforts.It does not help. “But I am not discouraged. […]
India explains abstention on Sri Lanka UN HR council vote
Mar 27, 2013 (LBO) – India abstained on voting on a resolution on Sri Lanka’s human rights which called for a external probe. The full statement is reproduced below:- India’s Explanation of Vote on Resolution œPromoting Reconciliation, Accountability, and Human Rights in Sri Lanka (A/HRC/25/L.1/Rev.1) Mr. President, 1. The UN Human Rights Council has adopted […]
US statement on Sri Lanka HR council vote
Mar 27, (LBO) – The following is a statement from US Secretary of State John Kerry on UN resolution on Sri Lanka. The Sri Lankan people are resilient. They have demonstrated grit and determination through years of war. Now, they are demanding democracy and prosperity in years of peace. They deserve that chance. The United […]