Category:
Equal Footing
June 17, 2011 (LBO) – Fitch Ratings Lanka has assigned People’s Leasing Company’s (PLC) proposed senior debentures of up to 750 million rupees a National Long-Term rating of ‘A(lka)’. “The issue is rated at the same level as PLC’s National Long-Term rating of ‘A(lka)’ which has a stable outlook,” the rating agency said in a […]
Sri Lanka offers aircraft for UN peacekeeping
June 17, 2011 (AFP) – Sri Lanka has offered its attack helicopters and transport aircraft for UN peacekeeping operations, two years after the end of the island’s civil war, an air force spokesman said Friday. The Sri Lankan air force was ready to deploy its Ukraine-manufactured Mi-24 helicopter gunships as well as Chinese-made Y-12 fixed-wing […]
SriLankan Airlines in wage deal with aircraft engineers
June 17, 2011 (LBO) – SriLankan Airlines has signed a long-term collective agreement with its aircraft engineers’ union, giving a pay rise that it said would help maintain worker harmony at a time maintenance business was growing. An airline statement said its engineering business was a key growth sector for the group and also help […]
Sri Lanka state-backed insurance plans under funded
June 17, 2011 (LBO) – Two Sri Lankan state-backed insurance schemes for state workers and agriculture have been topped up with taxes extracted from the people, as premium payments were not enough to cover claims, official data showed. ‘Agrahara’ a medical insurance plan for state workers with 650,000 holders had claims of 1,138 million rupees […]
England uproot Sri Lanka top order
SOUTHAMPTON, June 16, 2011 (AFP) – Sri Lanka were reduced to 81 for four against England on a rain-marred first day of the third and final Test at the Rose Bowl here on Thursday. Only 38 overs out of a scheduled 90 were possible on the opening day of what was the first Test ever […]
Sri Lanka sports: Ice hockey, cricket and money
June 17, 2011 (LBO) – I felt like writing a column on a subject that would surprise everyone. Ice hockey. But not only ice hockey . . . I used to live in Canada, long ago. In Vancouver, on the west coast. Quite far from everywhere, and not talked about much. Except in the past […]
Sri Lanka Tamil MPs beaten up by troops: party
June 17, 2011 (AFP) – Sri Lanka’s main minority Tamil political group on Friday accused army troops of assaulting its lawmakers and breaking up a party meeting on the northern peninsula of Jaffna. The Tamil National Alliance (TNA) said troops stormed their venue on Thursday evening and attacked members of parliament and party supporters who […]
Canada seeks to curb human smuggling
OTTAWA, June 16, 2011 (AFP) – A Canadian minister on Thursday unveiled measures to curb human smuggling, calling it a “despicable crime” that abused country’s “generosity” towards immigrants and refugees. The proposed law is in response to a wave of arrivals in Canada aboard rickety cargo ships that has weakened public support for the country’s […]
Sri Lanka stocks close down 1.0-pct
June 16, 2011 (LBO) – Sri Lanka stocks fell by nearly one percent Thursday to a fresh three-month low with continued massive forced selling of popular stocks of margin traders, brokers said. The main All Share Price Index closed at 7,015.71, down 0.95 percent (67.34 points) while the more liquid Milanka index fell 1.02 percent […]
Freight Cost
June 16, 2011 (LBO) – Container shipping line CMA CGM has announced a freight rate increase from July 1 including on cargo loaded from Sri Lanka, joining other lines that are trying to raise rates. CMA CGM, the Marseilles-based line that is the world’s third largest container shipping line, said it planned to hikes rates […]
Islamic Banking
June 16, 2011 (LBO) – Sri Lanka’s Commercial Bank of Ceylon said it is starting an alternative banking services compliant with Islamic Sharia law, with a three member committee of scholars to ensure compliance. “As one of Sri Lanka’s largest private banks it is our obligation to ensure that the services the unit provides are […]
Sri Lanka poultry firm to build Rs360mn broiler farm
June 16, 2011 (LBO) – Sri Lanka’s Bairaha Farms, a poultry firm said it is building a 360 million rupee modern broiler farm in the northwestern Puttalam district to increase its production by 15 percent over the next three years. In 2010 prices surged. “Being of a cyclical nature, the poultry business is characterised by […]