Category:
Bad Employer
DOHA, December 18, 2013 (AFP) – Migrants who have worked for nearly a year without pay on a Qatar skyscraper are facing “severe foot shortages” and cannot leave or seek other employment, Amnesty International said Wednesday.Qatar has come under mounting criticism from rights groups, particularly after being chosen to host the 2022 World Cup, which […]
Tele Consolidation
Dec 18, 2013 (LBO) – Bharti Airtel is close to exiting Sri Lanka after investing 300 million US dollars to acquire two million users, a media report said.India’s Hindu Business Line newspaper citing un-named sources said after give months of negotiations it was close to a sale to Etisalat, which had a five million user […]
Sri Lanka re-issues investment approvals on casino resorts
Dec 18, 2013 (LBO) – Sri Lanka has re-issued notices on tax concessions to three casino resorts with no mention of gaming being made, after initial investment approvals were withdrawn under fire.The state has issued gazette notices for Lake Leisure Holdings by Australian gaming tycoon James Packer and local entrepreneur Ravi Wijeratne, Queensbury Leisure by […]
‘s APIIT
Dec 18, 2013 (LBO) – A Malaysia based private equity firm linked to the state is in talks to acquire APIIT Lanka (Pvt) Ltd, a Sri Lanka based tertiary education institute, a media report said.Higher education is a growing sector in Sri Lanka with high demand and the current administration is relaxing a state monopoly […]
Sri Lanka stocks close 0.2-pct higher
Dec 17, 2013 (LBO) – Sri Lanka stocks close higher for the fourth straight day with finance and diversified stocks gaining, brokers said. Ceylinco Insurance closed 1.10 rupees higher at 1,350.00 rupees and Sampath Bank closed 1.00 rupee higher at 169.00 rupees. HNB closed 50 cents lower at 141.50 rupees and Touchwood Investments closed 10 […]
State Ships
COLOMBO, December 17, 2013 (AFP) – Sri Lanka will revive its defunct state-run shipping company by introducing two new cargo vessels bought from China, the government said Tuesday. The Ceylon Shipping Corporation will buy two 64,000-tonne bulk carriers that will also be used to train Sri Lankan crew, Information Minister Keheliya Rambukwella told reporters. He […]
Credit Trend
Dec 17, 2013 (LBO) – Sri Lanka’s commercial bank credit to the state surged in October 2013 following a net payback in September, while credit to business also rose, official data showed. Sri Lanka is recovering from a balance of payments crisis, which was originally fired by central bank credit injections to the banking system […]
‘s Calamander invests US$10mn in Sri Lanka hotel
Dec 17, 2013 (LBO) – Singapore-based Calamander group has invested 1.35 billion rupees (10 million US dollars) to acquire and upgrade a hotel in Sri Lanka. Calamander had bought Unawatuna Beach Resort just off Galle in Southern Sri Lanka for around one billion rupees in 2011 and rebuilt it by investing another 350 million rupees. […]
Sri Lanka spice exports up 40-pct
Dec 17, 2013 (LBO) – Export revenues of spices from Sri Lanka have risen 40 percent from a year earlier to 274 million US dollars in the first 10 months of 2013, an industry body said. Two centuries ago spices and areca nut were Sri Lanka’s key exports contributing to thje majority of government revenues. […]
Neanderthals cared for elder, burial site shows
WASHINGTON, December 17, 2013 (AFP) – New findings at an old Neanderthal burial ground in France have bolstered the notion that cavemen cared for their elders, researchers said Monday.The research is based on excavations around the skeleton of an elderly Neanderthal man who could barely walk and had lost his teeth, and who was painstakingly […]
Colombo Plan
Dec 16, 2013 (LBO – Australia has launched a student exchange program called the ‘New Colombo Plan, which will see hundreds of students fanning out to study and intern in Indo Pacific countries.Australia will spend 100 million dollars over 5-years on the program. The Australian High Commission (embassy) in Colombo said the program will start […]
Media Training
Dec 16, 2013 (LBO) – Journalists in Sri Lanka and other South Asian countries are invited to participate in an online training program followed by a five day conference in Kathmandu, Nepal.The projects will be grouped together for regional cooperation. Project selections are made before the Kathmandu conference, giving the journalists an opportunity to plan […]