Category:
” – press
SYDNEY, November 5, 2010 (AFP) – Australia’s unease over the state of its cricket deepened Friday ahead of this month’s Ashes series, with media labelling many Australian cricketers as overrated, over-indulged and overpaid. One newspaper said Australian cricket was in crisis amid descending gloom with the once-mighty national side having lost its sixth straight match […]
Sri Lankan president postpones British visit: official
November 5, 2010 (AFP) – Sri Lankan President Mahinda Rajapakse has postponed a planned visit to Britain, due to a busy schedule rather than fears of a arrest over alleged war crimes, a foreign ministry official said Friday. Rajapakse had planned to address the Oxford Union during his tour later this month. But the Times […]
Sri Lanka stocks edge down despite good company earnings
Nov 04, 2010 (LBO) – Sri Lankan shares closed lower Thursday, continuing a downtrend despite a crop of improved company quarterly earnings in what appears to be a cooling off after the market hit record highs, brokers said. The All Share Price Index closed at 6,658.45, down 0.25 percent (16.46 points) while the more liquid […]
Toll Collection
Nov 04, 2010 (LBO) – Sri Lanka Telecom is on track to get a deal to install a fibre optic cable for a toll collection system on an expressway linking the island’s south that is now under construction. These will be in the towns of Konawa, Kahatuduwa, Gelanigama, Dodangoda, Welipenna, Kurundugahahetekma, Nayapamula, Pinnaduwa, Deegoda, Kokmaduwa […]
Rail Deal
Nov 04, 2010 (LBO) – Sri Lanka is to enter into a credit agreement with India’s Export – Import Bank for an Indian government soft loan of 416 million US dollars to rebuild railways destroyed by war, a spokesman said. Media minister Keheliya Rambukwelle said the funds will be used to rebuild three sections of […]
Road Map
November 3, 2010 (AFP) – Sri Lanka plans to spend a billion dollars in foreign aid to rebuild roads as the island emerges from nearly four decades of ethnic fighting, a top official said Wednesday. Sri Lanka’s Highways Ministry Secretary Wasantha Karannagoda said they had secured funding to rebuild and repair nearly 4,000 kilometres (2,500 […]
Migrant Money
Nov 04, 2010 (LBO) – Commercial Bank said it expanded its money transfer service and will deploy banking officers in Saudi Arabia to handle remittances from migrant Sri Lankans working in the kingdom. The bank said in a statement its customer base in Saudi Arabia was growing and money transfer services can be obtained via […]
Sri Lanka Cargills says strengthens dairy presence
Nov 04, 2010 (LBO) – Sri Lanka’s Cargills will strengthen its presence in the island’s dairy sector by taking over three processing plants and having broader access to farmers, the company said in a statement. “The acquisition of Kotmale Holdings PLC comes in the wake of these identified opportunities and potential for sustainable long term […]
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PARIS, November 4, 2010 (AFP) – Physicists in Scotland said on Thursday they had devised a flexible material that manipulates light, marking a small step towards “invisibility” clothing beloved of science fiction writers and Harry Potter. The work is in the domain of metamaterials, or compounds with a surface that interacts with light thanks to […]
Gas Demand
Nov 04, 2010 (LBO) – A share issue by Sri Lankan liquid petroleum gas supplier Laugfs Gas to raise 2. 5 billion rupees was oversubscribed on the opening day Thursday itself, its promoters said in a stock exchange filing. Merchant Bank of Sri Lanka, Managers and Registrars to the IPO, said the issue would be […]
Sri Lanka investment agency says will honour obligations
Nov 04, 2010 (LBO) – Sri Lanka’s Board of Investment (BOI) said it will continue to honour all contractual obligations and to accept new investment applications with priority being given to identified ‘thrust’ sectors. The investment promotion agency said in a statement it was clarifying reports that the BOI) has suspended the acceptance of investment […]
Sri Lanka would like foreigners to buy private debt in future: Deputy Governor
Nov 04, 2010 – (LBO) – Sri Lanka is not looking to increase Treasuries sales to foreigners but would like them to buy private debt once capital markets are opened further, central bank’s deputy governor Dharma Dheerasinghe said. Sri Lanka’s rupee market has more than a 100 billion rupees as excess bank reserves which are […]