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Sri Lanka supreme court takes up constitutional changes
August 31, 2010 (AFP) – Sri Lanka’s Supreme Court on Tuesday began assessing a draft bill that would amend the island’s constitution to allow President Mahinda Rajapakse to run for office for a third term. Registrar of the Supreme Court said the five-judge bench would give their decision to the president and speaker of parliament […]
Sri Lanka inflation at 5.0-pct in August
Aug 31, 2010 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 5. 0 percent in August 2010 from a year earlier, up from 4. 3 percent in July, the government’s statistics office said. The Colombo Consumer Price index increased 0. 5 percent during the month, against no growth in the month of July. […]
Sri Lanka Treasury chief backs free trade
Aug 31, 2010 (LBO) – Sri Lanka’s finance secretary, a key policy maker in the current administration has backed freer trade which can improve people’s liberties and propel the country on a higher growth path. Sri Lanka has seen flourishing free trade from during the times of ancient kings. Jayasundera said the country was looking […]
Sri Lanka stocks fall 0.6-pct
Aug 30, 2010 (LBO) – Sri Lanka stocks closed 0. 6 percent lower Monday amid retain and high net worth investor profit taking, brokers said. The benchmark Colombo All Share Index closed 33. 3 points lower at points at 5,600.77 and the Milanka Index of liquid stocks fell 35. 24 at 5,861.87 points. Aitken Spence […]
Terminal Award
Aug 30, 2010 (LBO) – A concession to build and operate a 450 million US dollar container terminal in an expanded port in Colombo port has been awarded to Sri Lanka’s Aitken Spence and China Merchants Holdings, an official said. CHEC and China Merchant come under the same arm of the Chinese government, industry analysts […]
Gold Credit
Aug 30, 2010 (LBO) – Sri Lanka’s Commercial Bank said it has started an overdraft facility backed by gold at 15 percent a year for current account holders, which the bank said is lower than the rate on regular overdrafts. “The Gold Overdraft is an ideal solution for those who invest in the stock market, […]
Local Skills
Aug 30, 2010 (LBO) – Hatton National Bank, a big private listed commercial bank, plans to hire more executives from Sri Lanka’s north-east former war zone as it moves to increase lending in agriculture, an official said. Rajendra Theagarajah, chief executive of the private listed Hatton National Bank, said the new hiring scheme is based […]
Sri Lanka govt inaction on theft seen threatening spice trade
Aug 30, 2010 (LBO) – The Sri Lankan government’s failure to crack down on theft in spice plantations is threatening the industry, a key foreign exchange earner and provider of employment, a senior official has warned. Christopher Fernando, chairman of the Spices and Allied Products Producers™ and Traders™ Association (SAPPTA), said theft of produce was […]
Sri Lanka university fees reduced
Aug 30, 2010 (LBO) – The Minister of Higher Education has been quoted in the media as planning to reduce the fees charged from foreign students wishing to enroll in Sri Lanka universities: It will be a good way to generate more foreign income. We hope to offer a degree for US $ 5,000 to […]
Sri Lanka cabinet backs constitution change for president
August 30, 2010 (AFP) – Sri Lanka’s cabinet on Monday backed changing the constitution to allow President Mahinda Rajapakse to run for office for a third term, opening the way for a vote in parliament. Rajapakse, who oversaw the defeat of the Tamil Tiger rebels last year after decades of civil war, has a firm […]
Sri Lanka Nestle unit opens milk centre in former war-zone
Aug 29, 2010 (LBO) – Nestle Lanka, a unit of Swiss based Nestle, has opened a milk chilling centre in the former war-zone of Kilinochchi in the north of Sri Lanka, to buy milk for hundreds of dairy farmer in the area, the food firm said in a statement. It will also distribute equipment and […]
Ton-up Dilshan helps Sri Lanka clinch tri-series
DAMBULLA, August 28, 2010 (AFP) – Tillakaratne Dilshan cracked an impressive century to set up Sri Lanka’s 74-run victory over India in the triangular one-day series final on Saturday. The opener smashed one six and 12 fours in a 115-ball 110 for his eighth one-day hundred, and the first at home, as Sri Lanka posted […]