Category:
” energy subsidies end up in national debt
Mar 20, 2011 (LBO) – Several years of accumulated ‘off-budget’ energy subsidies have now come home to roost in the Sri Lanka’s national debt, laying bare a tangled web of state energy price manipulation and budgeting. Sri Lanka’s Treasury, the agency that collects taxes from the people and also issues debt against future taxes collectable […]
Islamic Finance
Mar 19, 2011 (LBO) – Top organizations representing Sri Lanka’s lawyers and accountants have brought together experts in Islamic finance to broaden understanding of one of the faster growing niches in the financial sector. The program will introduce the concept deal with equity investments, accounting for Islamic finance, corporate governance, the regulatory framework, legal and […]
Sri Lanka banana waste for value added products
Mar 19, 2011 (LBO) – Sri Lanka, which has 53 varieties of banana, has got Indian expertise under a United Nations funded project to help farmers make money by using waste from banana plants, officials said. The UNDP supported pilot project will be launched in north-central Anuradhapura, southern Embilipitiya and northern Jaffna. The United Nations […]
Sri Lanka textile firm to raise US$26.3mn in equity
Mar 19, 2011 (LBO) – Sri Lanka’s Textured Jersey, a textile make owned by Brandix Lanka Ltd and Pacific Textiles of Hong Kong said it is planning to raise 2.9 billion rupees (26.3 million US dollars) through a private placement and initial public offering. Pacific Textiles now owns 60 percent of the firm and Brandix […]
”’ legend Murali
MUMBAI, March 18, 2011 (AFP) – Sri Lanka skipper Kumar Sangakkara hailed veteran spinner Muttiah Muralitharan as a legend for his four-wicket contribution in Friday’s World Cup win over New Zealand. Muralitharan, playing in his final World Cup before retirement, took 4-25 as the Black Caps were dismissed for 153 to lose by 112 runs. […]
Hobbling Murali leads Sri Lanka to victory
MUMBAI, March 18, 2011 (AFP) – Veteran spinner Muttiah Muralitharan shrugged off a worrying injury scare to take four wickets as Sri Lanka defeated New Zealand by 112 runs in their World Cup Group A clash on Friday. It was always a tough ask for New Zealand on the Wankhede Stadium pitch, which will stage […]
Sri Lankans vote for rural rebuilding: president
March 19, 2011 (AFP) – Sri Lanka’s president said Saturday his party’s landslide victory in local elections was an endorsement of the government’s focus on rebuilding rural areas after decades of civil war. The Tamil National Alliance, a party of minority Tamils, won 12 councils after fielding candidates in the island’s former war zones. The […]
Sri Lankans vote for rebuilding: president
March 19, 2011 (AFP) – Sri Lanka’s president said Saturday his party’s landslide victory in local elections was an endorsement of the government’s focus on rebuilding rural areas after decades of civil war. Results showed that Rajapakse’s United People’s Freedom Alliance swept 205 of the 234 councils that went to the polls Thursday, the first […]
Sri Lanka stocks close 1.1-pct lower
Mar 18, 2011(LBO) – Sri Lankan stocks closed 1.1 percent lower Friday ending a two day rally as buyers in credit funded positions sold out, feeding a market consolidation downwards, brokers said. The All Share Price Index closed at 7,184.77, down 1.17 percent (84.82 points) while the Milanka Price Index of more liquid stocks closed […]
Highway Hopes
Mar 18, 2011 (LBO) – Construction work on stage one of Sri Lanka’s first expressway is set to end this month with 99 percent of the work over, according to details revealed by the Road Development Authority. The southern expressway, being built in four stages, will have a total length of 131.1 kilometres and allow […]
Offshore Support
Mar 18, 2011 (LBO) – Sri Lanka’s Colombo Dockyard said it has delivered the fourth in a series of oil industry offshore support vessels for Greatship (India), a subsidiary of The Great Eastern Shipping Company of India. Christened ‘Greatship Rashi’, she will join her sister vessel Greatship Rohini which was delivered in February 2011, said […]
Loan Rate
Mar 17, 2011 (LBO) – Sri Lanka’s Commercial Bank said it is accepting application for loans which has repayment periods of up to 10 years under a small and medium enterprise loan scheme funded by a World Bank credit line. Commercial Bank of Ceylon is one of seven participating banks in the credit line, which […]