Category:
Vehicle Trend
Mar 17, 2014 (LBO) – Sri Lanka’s vehicle registrations have dropped to 23,130 units in February 2014, the lowest since April 2010, with a sharp drop in commercial vehicles, an analysis by an equities research house shows.Sri Lanka is recovering from a balance of payments crisis triggered by loans taken from state-run banks by utilities […]
Military Chief
Mar 17, 2014 (LBO) – Former Sri Lanka Air Force chief Air Chief Marshal Harsha Abeywickrema has assumed duties at chairman of state-run Bank of Ceylon.Bank of Ceylon is Sri Lanka’s largest bank by assets. Bank of Ceylon said Abeywickrema joined the Air Force in 1980 as an officer cadet and was commissioned Pilot Officer […]
Toyota suspends Indian auto production amid labour unrest
TOKYO, March 17, 2014 (AFP) – Toyota said Monday it has suspended production at its two Indian auto assembly plants in response to threats against management and “deliberate” assembly-line stoppages, as efforts to hammer out a labour deal failed.A Tokyo-based company spokesman said Toyota hoped to restart production quickly, but could not give a timeline […]
Sri Lanka arrests rights activists ahead of UN meeting
COLOMBO, March 17, 2014 (AFP) – Sri Lanka has arrested two leading rights activists including a Catholic priest under anti-terrorism laws, police and campaigners said Monday, ahead of an expected UN censure later this month.Father Praveen Mahesan, head of the Peace and Reconciliation Centre in the war-torn Jaffna region, and Ruki Fernando of the Colombo-based […]
Sri Lanka GDP grows 7.3-pct in 2013, 8.2-pct in 4Q: census dept
Mar 17, 2014 (LBO) – Sri Lanka’s gross domestic product grew 7.3 percent in 2013 with the economy estimated to have grown 8.2 percent in the fourth quarter from a year earlier, the state statistics office said. For the full year, agriculture grew 4.7 percent, industry 9.9 percent and services 6.4 percent. Sri Lanka is […]
Sri Lanka US$10mn warehouse by Glowbal Outlet Stores
Mar 17, 2014 (LBO – A 10 million US dollar warehouse and logistics centre will be set up in Sri Lanka by Glowbal Outlet Stores, a firm founded by Canadians of Lebanese origin, the state investment promotion agency said.Ramzey Hammound president of Glowbal Outlets and Board of Investment of Sri Lanka chairman Lakshman Jayaweera had […]
India suspends search for plane, awaits new instructions
NEW DELHI, March 16, 2014 (AFP) – India on Sunday suspended its search for Malaysia Airlines flight 370 around the remote Andaman and Nicobar Islands and in the Bay of Bengal and is awaiting a new request from Malaysia, a defence official said.“The entire operation is on hold for now. We are awaiting fresh instructions […]
‘s Sangakkara to quit T20 after world meet
COLOMBO, March 16, 2014 (AFP) – Sri Lanka’s Kumar Sangakkara will retire from Twenty20 internationals after the ongoing World T20 in Bangladesh, the veteran left-hander told a newspaper on Sunday, The 36-year-old said he wanted to make way for younger players in the national team, but made himself available to play the shortest format in […]
US ship, plane to search Bay of Bengal for missing jet
WASHINGTON, March 14, 2014 (AFP) – A US naval ship and surveillance plane are heading to the Andaman Sea and Bay of Bengal to search for a missing Malaysian airliner that vanished a week ago, officials said Friday.The hunt had initially focused on the South China Sea east of Malaysia — along the intended route […]
Missing MH370, hypoxia or hijack to blame?
Mar 15, 2014 (LBO) – As the US deployed aircraft and ships to the Indian Ocean capable of underwater listening facilities, more details have emerged about a possible flight path of the missing airliner painting scenarios of hypoxia or hijack. Hypoxia or oxygen starvation from loss of cabin pressure incapacitates crew, making then incapable of […]
Sri Lanka Hambantota port industries to be powered by LNG
Mar 15, 2014 (LBO) – Sri Lanka Ports Authority is in discussions with an Australia based firm to set up a liquefied natural facility to drive an industrial zone in Hambantota instead of coal, an official said. SLPA chairman Priyath Wickrama said several heavy industries in the port initially planned to use coal, which could […]
Sri Lanka stocks end down 0.3-pct
Mar 14, 2014 (LBO) – Sri Lanka’s stocks end lower for the fifth straight day with tobacco and diversified stocks losing ground, brokers said. The Colombo benchmark All Share Price Index closed 17.71 points lower at 5,896.23 down 0.30 percent. The S&P SL20 closed 15.02 points lower at 3,207.11, down 0.47 percent. Turnover was 251.77 […]