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Sri Lanka Daya Apparel to open factories in east
Sept 11, 2011 (LBO) – Sri Lanka’s Daya Apparel Export is setting up three factories in eastern Amparai district, part of the former war zone, with 20 production lines capable of exporting over 2. 4 million pieces of apparel a year. “The project will emphasize equitable employment opportunities for both women and men. ” The […]
Frozen ATPL
Sept 10, 2011 (LBO) – Sri Lanka’s Gateway Graduate School, is in talks with a UK based university to offer an air travel degree with pilot training targeting international students, an official said. The school is plans to offer a B. A Honors degree with a commerical pilots license. “Airlines are starting to ask for […]
NASA launches twin satellites to map inner Moon
WASHINGTON, September 10, 2011 (AFP) – NASA on Saturday launched a 0 million pair of washing-machine-sized satellites on a mission to map the Moon’s inner core for the first time. The twin spacecraft took off from Cape Canaveral Air Force Station in Florida on a three-month journey to the Moon at 9:08 am (1308 GMT) […]
‘s Maldives unit in IPO
Sept 10, 2011 (LBO) – Sri Lanka’s Amana Takaful, an insurer operating on Shariah islamic finance rules said its unit in the Maldives selling 800,000 shares to raise 16 million rufiyaa in an initial public offer. The offer would open on September 20. The firm would sell the shares at 20 rufiyaa each. Amana Takaful […]
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September 10, 2011 (AFP) – Sri Lanka said Saturday that Amnesty International comments on the island’s probe into its military victory over Tamil rebels, were an “interference” in the country’s sovereignty. Amnesty International on Wednesday said Sri Lanka’s inquiry panel was “flawed at every level” and no substitute for an international war crimes investigation. The […]
Sri Lanka rupee policy “appropriate”: Central Bank
Sept 09, 2011 (LBO) – Sri Lanka’s central bank said its exchange rate policy on the rupee is “appropriate” amid sustained pressure on the currency which has required steady interventions in forex markets to keep a peg to the US dollar. The Central Bank said recent reserve sales were to offset higher oil imports and […]
Sri Lanka stocks becalmed
Sep 09, 2011 (LBO) – Sri Lankan stocks closed almost stagnant Friday with interest in shares that had been subject to speculative trading in recent weeks, brokers said. The main All Share Price Index fell 0.02 percent (1.27 points) to 6,990.33, while the more liquid Milanka index fell 0.11 percent (6.72 points) to close at […]
Rural Links
Sept 09, 2011 (LBO) – Cleveland Bridge UK has signed a 56 million US dollar contact with Sri Lanka’s Ministry of Economic Development to provide up to 210 bridges in rural locations island-wide including in the former north-east war zone. The project will be backed by the UK government’s Export Credit Guarantee Department (ECGD), the […]
Sri Lanka tea seen threatened by climate change
Sept 09, 2011 (LBO) – Climate change brought about by global warming could threaten the famed quality of Sri Lanka’s tea, the island’s main agriculture export and its best known brand, a new report said. “Could this be the beginning of a shift in the global tea cultivation map? ” the brokers asked. “The impact […]
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ISLAMABAD, September 8, 2011 (AFP) – Pakistan and Iran on Thursday said a multi-billion-dollar gas pipeline between the two countries was pressing ahead on schedule despite US objections to the project. The two signed an export deal last year for Iran to supply natural gas to its eastern neighbour from 2014, with sales to reach […]
Sri Lanka power utility battles monsoon failure
Sept 09, 2011 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board which has been badly hit by a failure of the island’s main monsoon is expecting about 6 billion rupees of losses in 2011, due to extra thermal generation. Peak Management Sri Lanka’s evening peak load is about 2,000MW now, without counting mini-hydro capacity. The […]
Sri Lanka to start diplomatic relations with El Salvadore
Sept 09, 2011 (LBO) – Sri Lanka will start diplomatic relations with El Salvadore, a small state in Central America, deputy economic development minsiter Lakshman Abeywardene, said. He said Sri Lanka’s envoy to Brazil will also be accredited to El Salvador. Abeywardene said over the past five years trade between the two countries has started […]