Category:
Sri Lanka Property Development gets in to hydro-power
Apr 25, 2011 (LBO) – Sri Lanka’s Property Development, a subsidiary of the state-owned Bank of Ceylon, has acquired hydro-power company for 23. 6 million rupees. The acquisition of a 95 percent stake in Koladeniya Hydropower was revealed in the company’s financial results for the March 2011 quarter filed with the Colombo stock exchange. Property […]
‘s Dilshan seeks early IPL exit
April 25, 2011 (AFP) – Sri Lanka’s new skipper Tillakaratne Dilshan, one of the stars of the Indian Premier League, has said he wants to leave the event early to travel with the national team to England on tour. Dilshan is keen to join the Sri Lankan squad when they fly to England on May […]
Credit Problem
Apr 24, 2011 (LBO) – Sri Lanka’s banks loaned 40.6 billion rupees to business in February pushing loan growth to 29. 7 percent from a year earlier, while the credit to the state including printed money spiked by 41 billion rupees, amid rising inflation. Printed money is immediately disbursed to the economy by the state, […]
Protests mount against Indian nuclear plant
SAKHRI NATE, April 24, 2011 (AFP) – In the busy Indian fishing village of Sakhri Nate, it’s obvious what the locals think of the plan to build the world’s biggest nuclear power plant just across the creek. “If the government does nothing, at least 5,000 fishermen and farmers will go to Delhi and protest,” he […]
‘s double-digit growth ambitions fade
NEW DELHI, April 24, 2011 (AFP) – India’s dreams of attaining double-digit economic growth within the next few years are fading, undermined by high inflation, slow progress on reforms and an uncertain global outlook. While hundreds of millions of Indians are still mired in poverty, the step-change in growth has transformed living standards for many […]
Sri Lanka Ex-skippers back Malinga call to quit Tests
April 24, 2011 (AFP) – Two former Sri Lankan captains Kumar Sangakkara and Mahela Jayawardene on Sunday backed fast bowler Lasith Malinga’s decision to quit Tests because of a worsening knee condition. Malinga announced his retirement last Friday, days after Sri Lanka Cricket questioned his participation in the lucrative Indian Premier League (IPL) after he […]
Forced Saving
Apr 23, 2011 (LBO) – Chandra Jayaratne, respected retired Sri Lankan business executive, and financial professional, has written President Mahinda Rajapaksa to stop state plans to build a controversial pension fund by dipping into the salaries of private sector workers. The full text of the letter is as follows. 22nd April 2011. His Excellency Mahinda […]
Juicy Business
ANTANANARIVO, April 22, 2011 (AFP) – Twenty Madagascan women who planned to work as maids in Saudi Arabia, were intercepted by police in Madagascar Friday, before they were able to board the plane, the government said. “We prevented these young girls from leaving because their paperwork wasn’t in order, notably they didn’t have contracts signed […]
Sri Lanka paceman Malinga quits Tests
NEW DELHI, April 22, 2011 (AFP) – Injury-prone paceman Lasith Malinga on Friday stunned Sri Lanka by quitting Test cricket in a bid to prolong his career in one-day internationals and Twenty20 matches. Chief selector Duleep Mendis hit out at the 27-year-old’s handling of the announcement, saying the bowler — who has pierced eyebrows, dyed […]
Trade Indicator
Apr 22, 2011 (LBO) – Container volumes through Sri Lanka’s main port have maintained rapid growth so far this year with government data showing increasing domestic as well as transhipment cargo as local and regional trade rebounds. The number of ships calling at Colombo port has also increased after falling in 2010 compared with the […]
Galleon Trial
NEW YORK, April 21, 2011 (AFP) – The jury in Wall Street’s biggest insider trading court case in a generation was due to start deliberating Monday after the conclusion of a seven-week trial. The defense for Galleon hedge fund founder Raj Rajaratnam completed its case in New York federal court Thursday by saying the government […]
UN heads for rights confrontation with Sri Lanka
UNITED NATIONS, April 22, 2011 (AFP) – The United Nations hurtled toward a high-profile confrontation with the Sri Lankan government Friday over international action on alleged war crimes during a military offensive against Tamil separatists. Rejecting a Sri Lankan demand to keep a report by a panel of experts secret, the United Nations said the […]