Category:
Sri Lanka, India US$500mn coal plant deal inked
Sept 06, 2011 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board and India’s National Thermal Power Corporation inked a deal to build a 500MegaWatt coal plant in the island’s northeast coast. The 50/50 joint venture will begin construction at Sampur in Trincomalee, in late 2012 and is expected to be commissioned in 2016, CEB chairman […]
Sri Lanka dollar peg breaks Rs110 level
Sept 05, 2011 (LBO) – Sri Lanka’s peg to the US dollar weakened 10 cents to 110. 10 Monday with the spot dollar being quoted around 110. 09/110.10 rupees as the currency continued to be under pressure, dealers said. Analysts say there could also be a ‘supply shock’ to the system in the form of […]
Sri Lanka stocks end up 0.8-pct
Sep 05, 2011 (LBO) – Sri Lankan stocks closed higher Monday with interest in a motor vehicle import and in non-voting shares of a jewellery exporter, brokers said. The main All Share Price Index closed at 7,007.68, up 0.82 percent (57.07 points) while the more liquid Milanka index rose 0. 69 percent (43.27 points) to […]
Speed Bump
Sep 05, 2011 (LBO) – The long-delayed opening of Sri Lanka’s first expressway will be delayed further although construction of the road is over because toll booths and fuel stations are still being built, an official said. The opening of the first section of the southern expressway that was to have been in September has […]
Digital debate: Do birds have thumbs?
PARIS, September 4, 2011 (AFP) – It is the kind of question that keeps biologists up at night: from an evolutionary standpoint, is the innermost digit of a bird’s three-pronged wing more like a thumb or an index finger? A study published online Sunday by Nature says it’s a bit of both. The stemcells in […]
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THIMPHU, September 5, 2011 (AFP) – The isolated kingdom of Bhutan is one of the most expensive holiday destinations in the world and a haven for celebrities and the well-heeled. In 2012, it will become even more costly. By doing a better job of marketing Bhutan overseas and increasing flight links, tourism officials hope more […]
Sri Lanka mayoral candidate promises jobs, decent housing
Sep 05, 2011 (LBO) – Sri Lanka’s ruling party mayoral candidate for the capital intends to organize job fairs for unemployed youth and promised decent housing for squatters uprooted from prime land being cleared for commercial development. Milinda Moragoda said he œwill bring in a professional and capable administration, which will help ensure that Colombo […]
Sri Lanka exports up 40-pct to July
Sept 05, 2011 (LBO) – Sri Lanka’s exports in the seven months to July rose 40 percent to 6,080 million US dollars from a year earlier, with apparel growing 44 percent, an export promotion official said. In July exports had topped a billion US dollars. Ratnayake had earlier said year-end target for exports was 10 […]
Sri Lanka graduates take aim for fresh tax grab
Sep 04, 2011 (LBO) – Graduates from Sri Lanka’s state universities are taking aim for a fresh tax grab by getting lifetime salaries as state workers, having already received a ‘free’ tertiary education from peoples’ tax money. The Island newspaper said a group calling itself the Combined Association of University Graduates (CAUG) charged rulers of […]
Sri Lanka launches Ceylon cinnamon brand to promote exports
Sep 03, 2011 (LBO) – Sri Lanka has launched a brand for cinnamon, its main spice export, aiming to build an image like its main export, Ceylon tea, and exploit growing awareness of its health benefits. The ‘Pure Ceylon cinnamon’ brand will be registered in key markets in North America and Europe, said Janaka Ratnayake, […]
Malaysia seizes 1,000 elephant tusks: reports
KUALA LUMPUR, September 3, 2011 (AFP) – Malaysia has seized more than 1,000 African elephant tusks in two separate shipments in the past two months, reports said Saturday. The wildlife watchdog says that the illegal ivory trade has been rising globally since 2004 largely due to increasing demand in China, where ivory is often ground […]
” after US raid
WASHINGTON, September 2, 2011 (AFP) – Gibson Guitar Corp. renewed its plea of innocence on Friday after US agents raided its Tennessee plants and seized rare ebony wood from India used to make some of the world’s most coveted guitars. “We were not engaged in smuggling,” chief executive Henry Juszkiewicz told CNN television. “We have […]