Category:
UN rejects Sri Lanka call to hold back war crimes report
UNITED NATIONS, April 21, 2011 (AFP) – The United Nations insisted Thursday that a report on alleged war crimes in Sri Lanka would be released in full, rejecting demands by the government to hold back the study. “It remains our intention to publish the report of the panel of experts on Sri Lanka in full […]
Sri Lanka gets nanotechnology patents
Apr 22, 2011 (LBO) – A Sri Lankan private-public sector partnership has been able to acquire five international patents in nanotechnology in its first year of operations in a drive to commercially exploit the technology. Similarly, the export of nano carbon tubes and nano titanium dioxide in place of the raw minerals that are exported […]
Sri Lanka shares edge down
Apr 21, 2011 (LBO) – Sri Lankan shares closed weaker for the fourth day Thursday with active trading in newly listed firms and private deals in the dominant mobile operator which is said to be eyeing another phone company, brokers said.The All Share Price Index closed at 7,456. 82, down 0.24 percent (17.68 points) while […]
Cargo Flows
Apr 21, 2011 (LBO) – Sri Lanka Ports Authority (SLPA), which runs the island’s ports, increased revenue and operating profit in 2010 on the back of the global economic recovery which generated double-digit growth in cargo flows. The SLPA’s operating profit increased by 126 percent to 4. 4 billion rupees in 2010 from the previous […]
Sub Prime
Apr 21, 2011 (LBO) – Sri Lanka’s finance companies who lend to smaller sub-prime customers have grown their loan book 37. 6 percent in 2010 to 156.2 billion rupees as the sector recovered from runs in earlier years, official data showed. Sri Lanka’s commercial banks which had loans of 1. 5 billion to businesses and […]
Sri Lanka tea auction sees return of Libya
Apr 21, 2011 (LBO) – Sri Lankan tea prices were firm at this week’s auction with brokers saying Libya had resumed buying and global prices seen staying high this year owing to lower production and growing demand. Despite the large volume of teas from plantation company estates on offer and “somewhat lower” quality prices were […]
Closing Argument
NEW YORK, April 20, 2011 (AFP) – Federal prosecutors cited “devastating” evidence Wednesday against hedge fund tycoon Raj Rajaratnam at the close of the biggest Wall Street insider trading trial in a generation. In the government’s closing statement against Sri Lankan-born Rajaratnam, Assistant US Attorney Reed Brodsky said secret tape recordings of phone conversations with […]
Sri Lanka asks UN not to publish war crimes report
April 21, 2011 (AFP) – Sri Lanka asked the United Nations on Thursday not to publish a forthcoming report on alleged war crimes during the island’s ethnic war, saying it could set back reconciliation efforts. President Mahinda Rajapakse has asked his supporters to turn this year’s May Day rally into a demonstration against any UN […]
Sri Lanka industrial productivity up 10.9-pct in 2010
Apr 21, 2011 (LBO) – Labour productivity in Sri Lanka’s industry rose 10.6 percent in 2010 racing ahead of economy-wide gains which were dragged down slower increases in agriculture and services, according to official data. Overall labour productivity in all three sectors rose 6.6 percent from a year earlier to 343,000 rupees. Labour productivity is […]
Sri Lanka shares down for third straight day
Apr 20, 2011 (LBO) – Sri Lankan shares closed slightly weaker Wednesday, down for the third straight day, with heavy trading continuing in the most recently listed firm and in the Aitken Spence group, brokers said. The All Share Price Index closed at 7,474.50, down 0.01 percent (0.66 points) while the more liquid Milanka index […]
Shipping Costs
Apr 20, 2011 (LBO) – Sri Lankan shippers could see the cost of shipping goods to key markets rise as shipping lines are expected to follow Hanjin’s recently announced rate hike with the peak season for cargo getting underway. Shipping lines on the main East-West trade route are struggling to raise rates to cope with […]
Fixed Access
Apr 20, 2011 (LBO) – Sri Lanka’s Dialog Axiata a unit of Malaysia’s Axiata played down mounting speculation that it is about to buy Suntel, a wireless fixed access provider owned by Sweden’s Telia. “There is nothing happening regarding Suntel at the moment,” Dharshana Abeysinghe, a spokesman for Dialog Axiata, said. There is intense industry […]