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Mel Gunasekera – an eulogy
Feb 02, 2014 (LBO) – On the morning of the first Sunday of February 2014 I felt as though the ground I stood on suddenly disappeared. I learned from a tweet that my friend and leading economic journalist Mel Gunasekera had been murdered in her home.How could this happen? She was in the prime of […]
Sri Lanka rejects US criticism over rights, democracy
COLOMBO, February 2, 2014 (AFP) – Sri Lanka on Sunday rejected “patently unfair” allegations by the United States that its rights record had deteriorated in the five years since the end of a bloody separatist war.Foreign Minister G. L. Peiris said remarks by Nisha Biswal, US Assistant Secretary of State for South and Central Asia, […]
Rights, democracy under threat in Sri Lanka: US envoy
COLOMBO, February 1, 2014 (AFP) – Democracy is under threat in Sri Lanka and its rights record has deteriorated in the five years since the end of a bloody ethnic war, a top US envoy said Saturday.Nisha Biswal, assistant secretary of state for South and Central Asia, said Colombo had failed to ensure reconciliation, justice […]
Consolidation
Jan 31, 2014 (LBO) – Sri Lanka’s banks and non-bank firm consolidation was progressing with meeting with individual firms with the regulator with preliminary plans expected to be submitted by March 31. In addition, the Central Bank requested all banks, NBFIs and others who are involved in the process to continue a close dialogue with […]
Sri Lanka stocks close up 0.3-pct
Jan 31, 2014 (LBO) – Sri Lanka stocks close higher Friday with healthcare and beverage firms gaining amid improved US growth numbers, brokers said. The Colombo benchmark All Share Price Index closed 20.82 points higher at 6,248.08, up 0.33 percent. The S&P SL20 closed 1.62 points lower at 3,442.94, down 0.05 percent. Turnover was 1.33 […]
Capital Raising
Jan 31, 2014 (LBO) – Sri Lanka’s Commercial Credit and Finance Plc said it planned to raise 1.6 billion rupees from a US registered company.Creation Investments Sri Lanka LLC, a Delware, USA, registered firm will initially buy 40 million shares at 21 rupees each for 1,008 million rupees, the firm said in a stock exchange […]
Tata Nano, other Indian small cars fail crash tests: safety body
NEW DELHI, January 31, 2014 (AFP) – The Tata Nano, billed as the world’s cheapest car, and a host of other top-selling small models from India have failed their first independent crash tests, a global safety group said Friday. The five entry-level vehicles — including the country’s best-selling small car the Suzuki-Maruti Alto 800, as […]
Sri Lanka JKH unit gets Air France-KLM agency
Jan 31, 2014 (LBO) – Mack Air (Pvt) Ltd, a unit of Sri Lanka’s John Keells Holdings said it will be the general sales agent for Air France – KLM in the island from February 2014.The agency for the Netherlands-based KLM was held by Sri Lanka’s Carson Cumberbatch for 50 years, dating back from before […]
Sri Lanka probes China coal plant for defective materials, design
Jan 31, 2014 (LBO) – Sri Lanka is probing a Chinese built coal plant for possible material, design or construction defects, following leaks in a steam cooling unit, officials said. Power minister Pavithra Wanniarachchi said she had informed Chinese embassy officials at a meeting in Colombo that the builders had to bear responsibility for the […]
Sri Lanka inflation at 4.4-pct in January 2014
Jan 31, 2014 (LBO) – Sri Lanka’s consumer prices rose 4. buy 4 percent in the 12-months to January 2014, down from 4.7 percent in December, the state statistics office said.But external inflation usually generated by reserve currency central banks like the Federal Reserve has also started to moderate and if Fed tightens or normalizes […]
Sri Lanka stocks close down 0.4-pct
Jan 30, 2014 (LBO) – Sri Lanka stocks close 0.40 percent lower Thursday with tobacco and hotel stocks losing ground amid strong foreign selling and Fed’s stimulus cut, brokers said. Nations Trust Bank closed 1.90 rupees higher at 66.90 rupees and Commercial Bank closed 60 cents lower at 127.00 rupees. Distilleries closed 90 cents higher […]
Cricket: Five-star Perera hands Sri Lanka massive win
DHAKA, January 30, 2014 (AFP) – Off-spinner Dilruwan Perera picked up five wickets as Sri Lanka thumped fragile Bangladesh by an innings and 248 runs in the first Test in Dhaka on Thursday.Bangladesh, trailing by a huge 498-run margin on first innings, were bowled out for 250 in their second knock after lunch on the […]