Category:
Sri Lanka power tariff proposal open for public comment
Mar 11, 2013 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board has sought increases in tariffs of over 100 percent for some categories for 2013, while keeping tariffs for places of worship and some industries at steeply subsidized levels. Places of religious worship, would continue to get the cheapest power, paying between 1.90 to 7.00 […]
Halal food label withdrawn in Sri Lanka after protests
March 11, 2013 (AFP) – Islamic clerics announced the withdrawal of a halal labelling system for food in Sri Lanka on Monday “in the interests of peace” after protests from Buddhist hardliners on the Indian Ocean island.The All Ceylon Jamiyyathul Ulama (ACJU), Sri Lanka’s main body of Islamic clergy, said the halal certificate issued by […]
Credit Limits
Mar 10, 2013 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation, to which state-run airlines owe 30.9 billion rupees and a petroleum utility 28.3 billion rupees will limit credit to state agencies this year, a media report said.Minister Yapa said the CPC was paying interest to state banks on loans taken to cover unpaid dues […]
Founding Shareholders
Mar 09, 2013 (LBO) – The International Finance Corporation, a private sector financing arm of the World Bank and DEG, a German development financier will buy 10 percent stock each in a new Sri Lankan commercial bank.Cargills Agriculture and Commercial Bank is being promoted by Sri Lanka’s Ceylon Theatres group. Sri Lanka’s CT Holdings and […]
Queen urged to boycott Sri Lanka summit over killing
COLOMBO, March 8, 2013 (AFP) – An English politician Friday urged the Queen to boycott the Commonwealth summit in Colombo later this year to protest against Sri Lanka’s failure to prosecute the killers of a British tourist in 2011.International rights groups have said up to 40,000 civilians may have been killed in the final offensive […]
”’: Fitch
Mar 08, 2013 (LBO) – An upcoming debenture of Sri Lanka’s People’s Leasing and Finance has been rated ‘AA-(lka)(EXP)’ by Fitch. The proposed has been rated at the same level as PLC’s national long term rating as it will rank equal to senior unsecured creditors, Fitch said. The full statement is reproduced below: Fitch Rates […]
Policy Stance
Mar 08, 2013 (LBO) – Sri Lanka is holding its main policy rates a little below annual inflation of 9.8 percent, expecting prices to ease from March and has asked banks to cut lending rates to boost growth. The Central Bank said in its March monetary policy statement that the repo rate at which excess […]
Debenture Issue
Mar 08, 2013 (LBO) – Sri Lanka’s People’s Leasing and Finance said it will sell up to 6.0 billion rupees in 4 and 5-year listed debentures with subscriptions opening on March 19.Listed debentures have been made free of withholding tax, triggering a spurt of such issues. The 4-year debenture pays 16.5 percent a year, with […]
Justice Call
Mar 08, 2013 (LBO) – The brother of a British tourist murdered while holidaying Sri Lanka in 2011 is calling for justice saying his killers are still free 15 months after he was shot and attacked in full view of witnesses.Khuram Shaikh, a red cross worker was killed in the early of December 25, 2011 […]
Youth ICT
Mar 08, 2013 (LBO) – A joint project by the World Bank, Microsoft and Sarvodaya-Fusion, a Sri Lanka based charity promoting information technology has launched a grant competition where youth in four South Asian nations can get up to 20,000 dollars for a winning project.The grant competition called ‘Youth Solutions!Technology for Skills and Employment’ will […]
Sri Lanka citizen group calls for halt to anti-Muslim nationalism
Mar 08, 2013 (LBO) – Friday Forum, a Sri Lankan citizen’s group has asked the administration to take steps to stop rising fascist-nationalist actions directed at the island’s Muslim community.“The Friday Forum urges you to act immediately and decisively to counter the increasingly venomous and strident anti-Muslim hate campaign launched by a few extremist groups […]
‘s Mannar district aquaculture boosted by Japan
Mar 07, 2013 (LBO) – Japan will provide 8.2 million rupees to build a hatchery to produce fingerlings in Sri Lanka’s former war torn North Eastern district of Mannar, the Japanese embassy said.Japan will give 65,735 dollars as grant aid to Sri Lanka’s state-run National Aquaculture Development Authority of Sri Lanka (NAQDA) to build a […]