Category:
Credit Trend
Jan 15, 2013 (LBO) – Sri Lanka’s commercial banks loaned 24.1 billion rupees to business in November 2012, with the state also borrowing another 18.8 billion rupees, official data showed. A balance of payments crisis is triggered in the monetary system by injecting large volumes of central bank credit (printed money) in the banking system […]
Sworn In
Jan 15, 2013 (LBO) – Sri Lanka’s President Mahinda Rajapaksa had sworn in Mohan Peiris, a former Attorney General as Chief Justice amid heavy security around the capital’s main courts complex.Dissenting lawyers have said they will petition court challenging the appointment of a new chief justice. The state information office said Peiris was sworn in […]
Legal Office
Jan 15, 2013 (LBO) – Sri Lanka’s President Mahinda Rajapaksa is expected to appoint a new Chief Justice later Tuesday amid fresh controversy with a group of lawyers said they will seek a court order declaring the appointment illegal. Former Attorney General Mohan Peiris is tipped to be sworn in as Chief Justice. The Lawyers […]
Sri Lanka imports fish from China for canning, more factories ahead: report
Jan 14, 2013 (LBO) – Sri Lanka is to set up another plant to can fish while existing tax protected factories are importing raw fish from China to prevent extinction of some species, a media report said.Sri Lanka’s The Sunday Times newspaper said a new factory was planned with possible Chinese investment in Galle in […]
Ordered Out
Jan 13, 2013 (AFP) – Sri Lankan President Mahinda Rajapakse on Sunday sacked the chief justice by ratifying a controversial parliamentary vote, defying international calls for restraint and plunging the country into a constitutional crisis. A spokesman for Bandaranayake confirmed that she received the letter sacking her on Sunday, but declined comment.No replacement has been […]
Quit Notice
Jan 13, 2013 (LBO) – Sri Lanka’s President Mahinda Rajapaksa had served a notice on Chief Justice Shirani Bandaranaike to quit her post Sunday, following the passage of an impeachment vote by parliament.The state information office said notice was served on the Chief Justice “informing her of the removal from the post.” The impeachment of […]
Concern
Jan 13, 2013 (LBO) – Commonwealth Secretary-General Kamalesh Sharma has urged Sri Lanka’s ruling administration to “pause” a controversial impeachment of the Chief Justice saying the organization profoundly concerned.“The impeachment of a Chief Justice is a very serious matter.In this particular case, it has called into question aspects of the Constitution of Sri Lanka,” Commonwealth […]
No Quarter
Jan 13, 2013 (LBO) – Sri Lanka’s Chief Justice Shirani Bandaranayake has not asked for time to remain till April 30 which will be followed by a voluntary retirement, her lawyers said.Referring to a media report on a Sinhalese language weekly that she had asked to remain till April 30 and retire voluntarily after that, […]
Game Changer
Jan 13, 2013 (LBO) – Sri Lanka’s ‘Black Friday Impeachment’ of the chief justice will mark a new chapter in illiberal democracy where parliamentary majorities are abused to rob liberties of citizens, a legislator has warned. “The Black Friday impeachment is another shameful day in the history of our country,” opposition legislator Harsha de Silva […]
Sri Lanka stocks, bond yields up
Jan 11, 2013 (LBO) – Sri Lanka’s stocks closed 0.2 percent higher while bond yields edged higher, brokers and dealers said. The spot US dollar was around 126.25/45 rupees to the US dollar slightly weaker than a day earlier. Stocks closed up 0.25 percent Friday with the All Share Index closed up 14.28 points at […]
Sri Lanka online tour firm launches Bawa architectural tour
Jan 11, 2013 (LBO) – Trekurious, a Sri Lankan online travel firm has launched a niche architectural tour involving famed Asian architect Geoffrey Bawa and his legacy of ‘Tropical Modernism’ style. “Channa, of course, is the perfect person to host this tour, having worked closely with Bawa himself and being a highly accomplished and lauded […]
Sri Lanka start-up in medical tourism bid with Durdans
Jan 11, 2013 (LBO) – Healing Journey, a leisure sector start-up is offering medical tourism services as Sri Lanka attracts more foreign visitors after the end of a 30-year civil war, officials said.Ceylon Tours managing director Suren Ediriweera says competition from India is high but medical tourists going to India can usually only visit one […]