Category:
Not Twice
June 26, 2011 (LBO) – Sri Lanka’s and Bahrain has signed an agreement to stop double taxation of interest and dividends from investment made in each country, the finance ministry said. The deal was signed between Sarath Amunugama, Sri Lanka’s mister for international monetary co-operation and Bahrain’s finance minister Shaikh Ahmed bin Mohammed Al Khalifa. […]
Sri Lankans support commonwealth games bid: poll
June 26, 2011 (LBO) – A bid for the 2018 commonwealth games by Sri Lanka’s Hambantota city has received 63 percent backing in a nationwide poll, while the people in the immediate area had backed it 86 percent, a statement said. The survey was conducted by The Nielsen Company among 2,600 males and females aged […]
Growing urban population strains Chinese cities
CHONGQING, June 26, 2011 (AFP) – A forest of buildings and cranes rises through thick fog above roads jammed with cars in a Chinese city the size of Austria and home to more than 32 million people. The southwestern megacity of Chongqing is bursting at the seams as authorities struggle to keep pace with its […]
‘s Jetwing leisure group plans new resorts in East, centre
June 25, 2011 (LBO) – Sri Lanka’s privately held Jetwing leisure group, is planning new project in the central and war-torn eastern areas of the island that will add 500 rooms over the next two years catering to a post-war boom, officials said. “We are looking at 50 rooms in the first phase and another […]
Lawlessness
June 25, 2011 (LBO) – Use of torture by police in Sri Lanka is “endemic” and lawlessness has gradually superseded rule of law in the island partly due a flawed constitution, a rights body which has publicized hundreds of such cases for over a decade, has said. “This constitution led to the politicization of the […]
Inflation fears as India hikes fuel costs
NEW DELHI, June 25, 2011 (AFP) – Indians will have to pay more for fuel from Saturday after the government announced a hike in the price of some petroleum products, increasing inflationary pressures in the fast-growing economy. Petroleum minister Jaipal Reddy late Friday raised the price of diesel by 3 rupees (7 cents) per litre, […]
Sri Lanka stocks up 0.3-pct
June 24, 2011 (LBO) – Sri Lankan stocks rebounded slightly Friday after four consecutive days of falls, mainly due to slight price increases of high market capitalization stocks, brokers said. Friday’s other notable crossing was 2,454,260 shares of Reefcomber Hotel at 80 rupees each. The All Share Price Index closed at 6,892.56, up 0.30 percent […]
Port City
June 24, 2011 (LBO) – The Sri Lanka Ports Authority (SLPA) has secured a 700 million US dollar investment to build a ‘port city’ on land reclaimed on the capital’s seafront with the construction of a new harbour. SLPA chairman Priyath Wickrama said material dredged to build the new port next to the existing Colombo […]
Bus Fares
June 24, 2011 (LBO) – Sri Lanka’s bus fares have been raised by 7.6 percent from July 01, following discussion between authorities and bus owners, though a key bus-owner union wanted a higher increase, reports said. The minimum fare for buses would go up to seven rupees from the current six. Minister C B Ratnayake […]
Big Leaks
June 24, 2011 (LBO) – Sri Lanka’s state water supply agency is unable to get revenue for one third of its production and the control of “excessive leakages” will improve productivity and allow it to repay loans, a finance ministry report said. The Water Board is expanding supply especially in the north and east after […]
Sri Lanka doubles ICT workforce in four years
June 24, 2011 (LBO) – Sri Lanka’s information and communications technology workforce has doubled in the past four years as the island ramps up training and investment to make the sector a key export industry. The industry aims to increase the ICT sector export earnings to a billion dollars by 2016, he said. A new […]
India to press ahead on nuclear power
WASHINGTON, June 24, 2011 (AFP) – India’s commerce minister called Thursday for more cooperation with the United States on nuclear energy and brushed aside talk of scrapping ambitious plans in the wake of Japan’s Fukushima crisis. On a visit to Washington, Commerce Minister Anand Sharma said he has faced questions on whether India should rethink […]