Category:
Sri Lanka spends Rs50bn on roads in five months
July 04, 2012 (LBO) – Sri Lanka has spent 70 billion rupees on highways, power, water and sanitation in the first five months of the year, with 50 billion rupees going to roads, a finance ministry report said. The finance ministry in a mid-year fiscal report said 36.8 billion rupees was spent on national roads, […]
Power Brakes
July 03, 2012 (LBO) – New vehicle registrations in Sri Lanka may drop up to 40 percent in 2012 and dreams of motor bike owners to move on to small cars will be shattered, industry officials said. In 2011, 525,421 new vehicles including 253,331 motor bikes and 57,886 motor cars were registered, up 46 percent […]
Afridi, Gayle among star-studded icons for Sri Lanka Cricket premier league
July 03, 2012 (LBO) – Pakistani allrounder Shahid Afridi and West Indies opener Chris Gayle have been named the two international iconic players for the inaugural Sri Lanka Twenty20 premier league, Sri Lanka Cricket said. The August 10-31 tournament will also feature Sri Lankan skipper Mahela Jayawardene and former skippers Kumar Sangakkara and Tilakaratne Dilshan […]
Sri Lankan stocks down 0.2-pct, turnover lowest in three years
July 02, 2012 (LBO) – Sri Lankan share prices slipped 0.25 percent on Monday, while the turnover plunged to a three year low, on the lack of buying support across the bourse, brokers said. Foreign buying was 35.52 million rupees on sales of 4.48 million rupees. Turnover was dominated by conglomerate Aitken Spence Holdings PLC, […]
Sri Lanka asked by US, EU to stop media suppression
July 2, 2012 (LBO) – The European Union and the United States has called upon Sri Lanka not to suppress media and limit freedom of expression, after the arrest of journalists working for two websites critical of the ruling administration. The two websites are linked to Sri Lanka’s main opposition United National Party. “The Heads […]
‘s legal hard liquor production down
July 02, 2012 (LBO) – Legal hard liquor production has fallen 2. 6 percent in the first five months of 2012, from a year earlier, but soft liquor (mainly beer) had risen 12.5 percent the finance ministry said in a report. Sri Lanka had seen a surge in beer sales partly due to stronger tourism […]
Sri Lanka foreign financiers headed by India up to April 2012
July 02, 2012 (LBO) – India has committed 740. 8 million US dollars out of 1,015 million US dollars of foreign financing to Sri Lanka in the first four months of 2012, including 275. 1 million US dollars as an outright grant, official data shows. The massive grant, which is unusual in Sri Lanka’s recent […]
Sri Lanka budget deteriorates up to April
July 02, 2012 (LBO) – Sri Lanka’s budget deficit has doubled in the first four months of 2012, with current spending growing at twice the rate of tax revenues and leading to unprecedented reliance on bank financing, official data show. Total revenues grew 7.2 percent to 305.5 billion rupees up to April 2012 from a […]
Sri Lanka dendro power plants may face higher costs: official
July 01, 2012 (LBO) – Dendro power plants in Sri Lanka may be unviable if too many are licensed to operate close to each other because competition may drive up firewood prices to high levels, an industry official has warned. Tokyo Power, a unit of Sri Lanka’s Tokyo Cement group is building a 5 MegaWatt […]
Sri Lanka senior opposition figure calls for end to arbitrary rule
July 01, 2012 (LBO) – Karu Jayasuriya, deputy leader of Sri Lanka’s main opposition United National Party has called for an end to arbitrary rule stemming from the current constitution, a report said. “As a member of the UNP, the country’s single largest political party, I believe that the time is right to call upon […]
Shipping Hub
June 30, 2012 (LBO) – Hadi Hamad Al-Hammam group, a Saudi Arabia based firm, will invest 44 million US dollars in Seagulf Shipyard (Pvt) Ltd, a boat repair centre in Sri Lanka’s Galle port, the state investment promotion agency said. “The project will also create employment for marine engineers and maintenance in ship repair and […]
Media Policing
June 30, 2012 (LBO) – Sri Lankan police Friday shut down main two opposition websites and arrested nine employees, and the house of its editor has also been raided, media reports said. Some 17 journalists and media employees have been killed in Sri Lanka in the past decade, pro-opposition websites have been blocked and media […]