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Accounting Link
Nov 18, 2010 (LBO) – Members of the Institute of Chartered Accountants of Sri Lanka will be able to get the qualifications of its sister body in the UK following a deal signed this month, an official said. “Following the signing of a memorandum of understanding with Institute of England and Wales you will not […]
Land Hustle
Nov 18, 2010 (LBO) – Sri Lanka is planning to bring in a new law to fast-track state land allocations to investors which are held up due to procedural delays at local government level, deputy economic development minister Lakshman Yapa Abeywardene said Abeywardene said such procedures required a new law to be passed. “We want […]
‘s powerful president settles in for the long-haul
November 18, 2010 (AFP) – Sri Lankan President Mahinda Rajapakse kicks off a second term Friday, promising economic rebirth for the war-ravaged island with the help of nations who have snubbed Western calls for a war crimes probe. Rajapakse, who turned 65 Thursday, begins his fresh, six-year mandate from an unprecedented position of strength following […]
‘s jailed ex-army chief in hospital: party
November 17, 2010 (AFP) – Sri Lanka’s former military chief Sarath Fonseka, who is serving a 30-month jail sentence, was admitted to hospital after suffering breathing problems, his party said Wednesday. The ex-army chief has said the government is seeking revenge for his decision to stand against the president. The former general was unwell due […]
Sri Lanka should channel capital flows to direct investment: rating official
Nov 18, 2010 (LBO) – Sri Lanka can expect higher post-war growth, with lower inflation, higher employment provided deficit spending can be checked and capital inflows channeled to direct investment, a senior rating official said. “The two key reasons underpinning growth is the return of peace and all that it implies for investor confidence,” Roopa […]
Better Potential
Nov 17, 2010 (LBO) – Sri Lanka’s importance as a shipping hub in South Asia has increased after the end of a long drawn out war, an international logistic group that has offices in the Middle East, Asia and Pacific said. “Sri Lanka with its strategic location provides a gateway to the Maldives where we […]
Sri Lanka carbon emissions up, but power costs down with coal plant
Nov 17, 2010 (LBO) – Sri Lanka’s first coal plant will push the island’s carbon emissions by 46 kilograms per person next year, but electricity generation costs will come down sharply, power minister Champika Ranawaka said. The coal plant will increase per capital carbon emissions by 46 kilograms to 700 kilograms a year,” Ranawaka said […]
Sri Lanka test fires coal plant furnace
Nov 17, 2010 (LBO) – Sri Lanka has successfully test fired a furnace of a 300 Mega Watt Chinese-built coal plant using liquid fuel Wednesday, in the island’s Western coastal area of Norochcholai. The first 300 MW stage is part of a 900MW coal fired complex. A ship carrying a 40,000 tonnes of coal from […]
Sri Lanka to smoothen path for investors: ministers
Nov 17, 2010 (LBO) – A Sri Lankan state committee has finalized a report that has identified issues blocking investment and has proposed remedies to fast track projects, especially by speeding relevant government approvals, ministers said. Analysts say many laws passed in the legislature contain clauses such as the need for ‘ministers’ concurrence’ which promotes […]
Sri Lanka Treasuries flat
Nov 16, 2010 (LBO) – Sri Lanka’s Treasuries yields were steady at Tuesday’s auction with 13.0 billion rupees in bills being sold with 12.0 billion maturing, the government’s debt office said. The government sold 2.7 billion rupees in 3-month bills, 6.6 billion rupees in 6-month bills and 3.8 billion rupees in 12-month bills. The 3-month […]
Sri Lanka stocks close 0.53-pct down
Nov 16, 2010 (LBO) – Sri Lanka stocks closed 0.53 percent lower, extending losses with index heavy stocks dragging the market down, brokers said. Turnover was 3.5 billion rupees. There were 53 gainers and 137 losers. “Sector wise 2.3 billion of the revenue came from diversified sector, 667 million from the hotels and 187 from […]
Cruise Call
Nov 16, 2010 (LBO) – A luxury passenger vessel, MV Le Diamant, operated by the CMA CGM shipping line, has begun calls at Sri Lankan ports following the end of the island’s 30-year ethnic war. Its second voyage is planned for May 2011. The Sri Lanka Ports Authority said the ship called at the eastern […]