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Sri Lanka orders Red Cross to quit former war zone
November 21, 2010 (AFP) – Sri Lanka’s government has ordered the International Committee of the Red Cross (ICRC) to close its offices in the island’s former war zone, the Geneva-based humanitarian agency said Sunday. The conflict ended when the rebels were wiped out in a military offensive that has since triggered allegations of war crimes. […]
Sri Lanka need to build human capital for post-war growth
Nov 21, 2010 (LBO) – The greatest need for post-war Sri Lanka’s plans for accelerated economic growth is an adequate and appropriate human capital base, a top economist and educator has said. Sri Lanka is chasing 8.0 percent growth after ending a 30-year war with Tamil separatists terrorists. “Sri Lanka which is after the war […]
Sri Lanka in final stretch for gold ETFs
Nov 20, 2010 (LBO) – Sri Lanka has hammered out a regulatory framework for exchange traded funds (ETFs), a pooled investment scheme, which will also allow precious metals to be traded on the Colombo Stock Exchange from next year, an official said. Director General of the Securities and Exchange Commission Malik Cader said that the […]
Paranavitana, Jayawardene help Sri Lanka draw Test
GALLE, November 19, 2010 (AFP) – Tharanga Paranavitana hit an impressive 95 and Mahela Jayawardene a solid 58 to help Sri Lanka draw the opening Test against the West Indies on Friday. Sri Lanka, following on 202 runs behind, reached 241-4 in their second innings when play was called off due to rain after tea […]
Maldives turns to Sri Lanka for dollars as IMF suspends deal
Nov 20, 2010 (LBO) – Maldives has had discussions with Sri Lanka on the possibility of gaining access to a hard currency as money printing created dollar shortages and the International Monetary Fund suspended a deal with the archipelago. The International Monetary Fund suspended a deal with the archipelago as the state was unable to […]
Fed Hack
NEW YORK, November 18, 2010 (AFP) – A sophisticated Malaysian cyber bandit hacked into the US Federal Reserve’s computers and also stole nearly half a million credit and debit card numbers, US prosecutors in New York said. Brian Parr, the head of the Secret Service’s New York office, said cyber crimes “not only affect our […]
Sri Lanka to end tax breaks for small projects
Nov 19, 2010 (LBO) – Sri Lanka will stop giving tax holidays for investment projects smaller than 5. 0 million US dollars to close a loophole that has drained state revenues through the import of duty free equipment, a government minister said. This year the government has to tax the people to give a salary […]
Sri Lanka president sworn in for a second term
Nov 19, 2010 (LBO) – Sri Lanka’s president Mahinda Rajapaksa was sworn in for a second six year term in office Friday, a day after his birthday which was celebrated with a 15,000 kilogram ‘milk rice’ by the island’s top chefs. President took his oaths before the country’s Chief Justice in a nationally televised ceremony. […]
Sri Lanka entrepreneur warns against state push into business
Nov 19, 2010 (LBO) – A recent state push into business is taking away opportunities available for the private sector to expand their wings at the end of a 30-year war, a Sri Lankan entrepreneur has warned. “Government is trying to compete (against private citizens), it could be hotels, insurance and any other area,” W […]
Sri Lanka war-stricken farmers get US help
Nov 18, 2010 (LBO) – More than 17,000 farmers in Sri Lanka’s war torn north will get seed paddy, agricultural equipment and help to re-build infrastructure through a 5.0 million US dollar grant from the United States. The US embassy in Colombo said the program will be conducted through the Food and Agricultural Organization of […]
Sri Lanka stocks close 1.4-pct higher on pre-budget rally
Nov 18, 2010 (LBO) – Sri Lanka stocks closed up 1.43 percent Thursday in a pre-budget rally which saw index heavy and illiquid stocks regaining recent losses. Aitken Spence, a conglomerate with heavy interest in the leisure sector closed at 178. 00, up 1.00 rupee. The All Share Price Index closed at 6,565.00, up 1.43 […]
Southern Port
Nov 18, 2010 (LBO) – Sri Lanka’s new Chinese built port in the Southern city of Hambantota was formally commissioned by President Mahinda Rajapaksa Thursday with the symbolic entry of a converted troopship. Rajapksa said in the second century, under then King Gajaba, there had been a port in the area called Godpabbatha which had […]