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Sri Lanka anti-terror seminar faces boycott call
May 24, 2011 (AFP) – A leading human rights group urged governments on Tuesday to boycott a conference on fighting insurgents organised by Sri Lanka, which wants to share its experience of defeating separatist militants. Sri Lanka will host the three-day meeting “Defeating Terrorism – Sri Lanka Experience” in the capital Colombo next Tuesday and […]
SriLankan Airlines flights to Europe on schedule
May 24, 2011 (LBO) – All SriLankan Airlines flights to Europe will depart as scheduled with contingency plans to fly to alternate airports if Iceland’s volcanic ash clouds spread further into Europe, Sri Lanka’s national carrier said. “Passengers to our European destinations London, Frankfurt, Paris, Rome and Milan are advised to call our contact centre […]
SriLankan Airlines ground handling, catering monopoly extended by 10 years
May 24, 2011 (LBO) – Sri Lanka’s airports authority has extended by 10 years a ground handling and catering monopoly given to the national carrier SriLankan Airlines at the international airport, a statement said. “Airport & Aviation Services (Sri Lanka) Limited has awarded SriLankan Airlines the long term exclusive franchise for ground handling and catering […]
Dicey Deals
May 24, 2011 (LBO) – Sri Lanka is continuing its legal defence in action filed by international banks over petroleum derivatives sold to a state-run oil distributor, the government’s top legal officer said. Fitch Ratings said the fine was bigger than the local branch’s capital but its rating was unaffected due to expected support from […]
Sri Lanka stock close 0.5-pct lower
May 23, 2011, 2011 (LBO) – Sri Lanka stocks closed weaker Monday, amid broad sell-off though heavy trading in Colombo Land shares boosted activity, brokers said. The benchmark Colombo All Share Price Index (ASPI) closed down 0.54 percent to end at 7439.15 (40.48 points), while the Milanka index of liquid stocks dropped 0.39 percent (26.60 […]
Finance Growth
May 23, 2011 (LBO) – Sri Lanka’s LB Finance said net profits for the March 2011 grew 83 percent to 391 million rupees from a year earlier, with strong growth in lending during the past year and a steep increase in other income, interim accounts showed. Its government securities portfolio rose modestly to 1.6 billion […]
Militants storm Pakistan naval air base, five dead
KARACHI, May 23, 2011 (AFP) – Taliban gunmen armed with rockets and explosives stormed a major naval air base in the heart of Pakistan’s biggest city, destroying two US-made surveillance aircraft and killing five personnel. Officials said the brazen attack in Karachi, which came three weeks after the US killing of Osama bin Laden, was […]
Sri Lanka Hayleys wind power plant to start in Sept
May 23, 2011 (LBO) – Sri Lanka’s listed Hayleys group said a wind power plant it is building in the island’s north western coastal town of Kalpitiya will begin commercial operations in September 2011. The 10 MegaWatt wind plant is run by its unit Nirmalapura Wind Power (Private) Ltd. The Kalpitiya peninsula has another wind […]
Sri Lanka cautious on Pakistan tour
May 23, 2011 (AFP) – Sri Lanka’s cricket officials Monday reacted cautiously to an invitation to tour Pakistan, just two years after players were targeted in a deadly militant ambush in Lahore. The Pakistan Cricket Board announced at the weekend that they had invited Sri Lanka to play three Tests, five one-day internationals and one […]
Fernando fireworks see Lankans tame Lions
DERBY, May 22, 2011 (AFP) – Dilhara Fernando took three wickets for four runs as Sri Lanka completed their preparations for next week’s first Test against England with a morale-boosting 38-run win over the England Lions here on Sunday. Sri Lanka, who’d already beaten Middlesex, won on the fourth and final day after being made […]
Sri Lanka private sector urged to hire former combatants
May 23, 2011 (LBO) – An international terrorism expert has suggested Sri Lanka’s private sector should employ former Tamil Tiger separatist fighters who have been rehabilitated to help ensure they don’t return to violence. Sri Lanka’s 30-year ethnic war ended in May 2009 resulting in accelerated economic growth and a tourism boom. Gunaratna said many […]
Sri Lanka inflation to fall in May
May 23, 2011 (LBO) – Sri Lanka’s inflation is expected to come down in May following spike to 9. 8 percent in the 12-month to April and the central bank is comfortable with the current interest rates, Governor Nivard Cabraal said. Sri Lanka has a pegged exchange rate and foreign exchange market interventions generate rupees […]