Category:
Sri Lankan Airlines hires more pilots
Apr 26, 2011 (LBO) – Sri Lankan Airlines has hired 11 new pilots as it expands its fleet to meet increased demand for passenger and freight traffic after the end of the island’s 30-year ethnic war. Eleven young Sri Lankans have qualified to join SriLankan Airlines as pilots upon completion of training by the national […]
Sri Lanka seeks N. American market access through Mexico
Apr 26, 2011 (LBO) – Sri Lanka is seeking to access North American markets under the NAFTA trade deal through partnerships with Mexican businesses, minister of industry and commerce Rishad Bathiudeen said. Mexican Ambassador Nualart said Mexican businesses want to invest in food processing, multiplex cinemas and construction, specially shopping complexes, in Sri Lanka. “Joint […]
‘s Malinga defends Test retirement
April 26, 2011 (AFP) – Sri Lanka paceman Lasith Malinga on Tuesday brushed aside criticism that he quit Test cricket to be able to make quick money from tournaments such as the Indian Premier League. The injury-prone bowler invited controversy when he made himself unavailable for Tests during a forthcoming tour of England because of […]
Australia to crack down on refugees after riots
SYDNEY, April 26, 2011 (AFP) – Australia moved to toughen its refugee stance Tuesday, launching a stricter character test so those convicted of crimes, including rioting, while in immigration detention could be shipped home. Immigration Minister Chris Bowen said the new law, if passed by parliament, would mean any asylum seeker found guilty of an […]
UN chief says no probe into Sri Lanka mass killings
UNITED NATIONS, April 26, 2011 (AFP) – UN chief Ban Ki-moon has said he cannot order an international probe into the killing of tens of thousands of civilians during Sri Lanka’s final assault on Tamil separatists in 2009. His remarks came after a UN panel said Monday that the Sri Lanka military killed most of […]
UN releases report on Sri Lanka
UNITED NATIONS, April 25, 2011 (AFP) – The Sri Lankan army killed most of the tens of thousands of civilian victims of a final offensive against Tamil separatists in 2009 but both sides may be guilty of war crimes, a UN panel said Monday. UN Secretary General Ban Ki-moon said he could not order an […]
Soaring food prices a threat across Asia
MANILA, April 26, 2011 (AFP) – Soaring global food prices threaten to push tens of millions of Asians into extreme poverty and cut the region’s economic growth this year, the Asian Development Bank warned in a report Tuesday. Cereal inventories globally will shrink further unless production rises at least 2.0 percent this year, the report […]
Sri Lanka state petroleum firm lose US$260mn
Apr 26, 2011 (LBO) – Sri Lanka’s state run petroleum distributor Ceylon Petroleum Corporation has lost 28.6 billion rupees in 2010 as due to rising cost and arbitrary political control of its retail prices, official data show. Sri Lanka has no cost-basis for fuel pricing and prices are controlled by arbitrary by the state while […]
Sri Lanka raises taxes on imported vehicles
Apr, 25, 2011 (LBO) – Sri Lanka has raised import duties on several categories of petrol-engined cars and three wheelers with steeper increases seen in larger hybrid vehicles, which had exceptionally low taxes earlier, officials said. At the current rates even the large hybrids are taxed at a lower rate than smaller petrol cars. Update […]
Sri Lanka shares end down 1.5-pct
Apr 25, 2011 (LBO) – Sri Lankan shares tumbled for the fifth straight day Monday with motor shares taking a hit and heavy trading continuing in Lankem Developments, brokers said. The All Share Price Index closed at 7,345.48, down 1.49 percent (111.34 points) while the more liquid Milanka index fell 1.32 percent (91.84 points) to […]
Auto Ache
Apr 25, 2011 (LBO) – Prices of several models of imported cars in Sri Lanka will rise after a government import duty increase, senior officials of motor vehicle importers said. The price of a Viva car imported from Malaysia with an engine capacity below 1,000 cc, which had become popular recently, could rise by 150,000 […]
Capital Cushion
Apr 25, 2011 (LBO) – RAM Ratings Lanka has assigned long- and short-term financial institution ratings of BB and NP to Bimputh Lanka Investment (BLI) with the long-term rating carrying a stable outlook. “The ratings are supported by the company’s good asset quality, healthy funding mix and strong capital cushioning,” the rating agency said in […]