Category:
Sri Lanka to close prisons for commercial development
Sept 29, 2011 (LBO) – Sri Lanka will shift several prisons in prime city centres including the capital Colombo to make way for commercial development, minister Keheliya Rambukwelle said. Matara and Galle prisons will be shifted to Pitabeddara in the Matara district. The cabinet of ministers had approved a proposal by the prison reforms ministry […]
”: New York mayor
NEW YORK, September 28, 2011 (AFP) – Visa policies that keep skilled workers from settling in the United States amount to “national suicide,” New York Mayor Michael Bloomberg said Wednesday. “These businesses will hire American workers, and immigrants are more than twice as likely as those born in America to start a new company,” he […]
Sri Lanka bill yields steady
Sept 28, 2011 (LBO) – Sri Lanka’s Treasury bill yields edged up one basis points across maturities with the 3-month yield moving to 7. 15 percent, data from the state debt office showed. The 6-month yield moved one basis points to 7. 23 percent and the 12-month yield moved to 7. 31 percent. The debt […]
Sri Lanka stocks end down 0.4-pct
Sept 28, 2011 (LBO) – Sri Lankan stocks closed weaker Wednesday after being stagnant for two days on rather thin turnover, brokers said. The main All Share Price Index fell 0.40 percent (27.01 points) to 6,710.67, while the more liquid Milanka index fell 0.47 percent (28.21 points) to close below the 5,000 mark at 5,999.28, […]
Vehicle Strategy
Sept 28, 2011 (LBO) – The Sri Lankan agency for South Korea’s KIA Motors is to set up three more service stations within the Colombo metropolitan region and then go outside the capital as sales soar. KIA Motors (Lanka) has said it is to invest about a billion rupees in the next three years to […]
Finance Offer
Sept 28, 2011 (LBO) – An initial public offer by Sri Lanka’s Trade Finance and Investments Limited (TIFL) was over-subscribed on the opening day Wednesday. Corporate Services (Pvt.) Ltd, registrars to the offer, told the Colombo Stock Exchange that the IPO would be closed at 4. 30 p.m. Wednesday. Trade Finance and Investments offered six […]
Sri Lanka promises quick electronic entry nod
Sept 28, 2011 (LBO) – Sri Lanka’s new electronic travel authorization system will approve applications within 24 hours but most applications will be approved in a much shorter time, immigration officials said. The portal www.eta.gov.lk will be opened on September 30 and the new process will be applied after a “reasonable time”, Sri Lanka’s immigration […]
Sri Lanka leisure group rebrands hotels, raises rates
Sept 28, 2011 (LBO) – John Keells group has revamped and rebranded two hotels on Sri Lanka’s south coast, sharply raising rates as it lures tourists with leopard and whale watching tours. The group spent about 15.5 million US dollars in revamping the Chaaya Tranz Hikkaduwa beach hotel and the Chaaya Wild Yala game lodge, […]
Criminal Trial
THE HAGUE (AFP) – Dutch prosecutors Tuesday asked for jail sentences between 10 to 16 years against five suspected Tamil Tigers for aiding the Sri Lankan rebel movement from the Netherlands, including collecting funds. Prosecutors said by extension, the men were responsible for the LTTE’s actions like the recruitment of child soldiers and murder. Arrested […]
Tele Hub
Sept 28, 2011 (LBO) – Sri Lankan mobile operator Dialog Axiata has struck a deal with Singapore’s StarHub mobile firm to offer customized international connectivity solutions to customers. “The partnership is focused on delivering the lowest cost connectivity solutions with strict service levels between Sri Lanka and Singapore using each other’s network,” a statement said […]
Europe threatens to break off India free-trade talks
BRUSSELS, September 27, 2011 (AFP) – European governments are threatening to break off negotiations with India on a free-trade deal the EU had hoped would be worth 175 billion euros a year, an EU report revealed on Tuesday. Four years after talks began with New Delhi, frustrated European Union trade ministers have taken the decision […]
Sri Lankan Airlines cuts losses
Sept 28, 2011 (LBO) – State-run SriLankan Airlines said it had lost 202 million rupees in the year to March 2011, down from 6.03 billion rupees a year earlier, helped by 3.6 billion rupees in one-off non-operating incomes. “SriLankan will focus on each of its diverse areas of business, with particular emphasis on transforming our […]