Category:
Sri Lanka mulls energy audit to save electricity
July 02, 2010 (LBO) – The Sri Lankan government is to have energy audits for all state organisations in an efforts to save electricity and minimise wastage, a senior official said. Kithsiri Dissanaike, chairman of the Sustainable Energy Authority, said an awareness campaign for school children as well as industries is also being done to […]
EU urges Sri Lanka to cooperate with UN war probe
BRUSSELS, July 1, 2010 (AFP) – The European Union urged Sri Lanka’s government on Thursday to cooperate with a UN panel probing alleged war crimes during the country’s civil war. “If the EU doesn’t want to give it, let them keep it. I don’t want it. We have gone and explained what we have done.” […]
Sri Lanka to appoint rating advisor: report
July 01, 2010 (LBO) – Sri Lanka will appoint an international investment bank as a ‘rating advisor’ next month ahead of a US dollar denominated sovereign bond to be sold later in the year, a media report said. Bloomberg newswires said the size of the bond issue has not yet been decided but earlier reports […]
Sri Lankan stocks close down 0.23-pct
July 01, 2010 (LBO) – Sri Lankan stocks closed down Thursday as investors took a wait-and-see approach on high value shares that in recent weeks had significantly moved up in price, while retail investors were seen chasing after ‘penny’ stocks, broker said. The All Share Price Index closed at 4,601. 63, down 0.23 percent (10.83 […]
Banking Move
July 01, 2010 (LBO) – Sri Lanka’s central bank is to open an office in northern Jaffna where it could help with loans and be a catalyst for the economic revival of the region after a war, a statement said. It will be the banking regulator’s fourth provincial office complementing others in the southern, north-central […]
House arrest for Maldivian opposition MPs as crisis drags
July 1, 2010 (AFP) – A Maldivian court has ordered the house arrest of two key opposition lawmakers amid a power struggle between the country’s president and parliament, an official said Thursday. The Criminal Court of Male told police on Wednesday night to keep the two men under house arrest for three days, but the […]
Sri Lanka electricity utility goes for wind power
July 01, 2010 (LBO) – Sri Lanka’s state-run electricity utility will form a separate company to set up wind power plants, Minister of Power and Energy Patali Champika Ranawaka said. New coal-based power plants are being built or planned along with a few more hydro-power plants as most hydro-power potential has been exhausted. There is […]
Sri Lanka trade concessions to be reviewed: US
July 01, 2010 (LBO) – The United States will review trade concessions granted to Sri Lanka under its Generalized System of Preferences (GSP) affecting 116 million US dollars of goods exported by the island, the US embassy in Colombo said. Other criteria included measures against child labour, and occupational safety and health, work hours, minimum […]
‘s Howard fights on despite ICC snub
SYDNEY, July 1, 2010 (AFP) – Australia’s John Howard vowed to fight on to become world cricket president despite his embarrassing rejection by Africa and Asia, which was slammed as a “disgrace” by ex-ICC chief Malcolm Speed Thursday. Howard, the former conservative Australian prime minister, was due to fly home from Singapore after African and […]
Sri Lanka peace, stability help exporters cope with GSP loss: Central Bank
July 01, 2010 (LBO) – Lower interest rates and inflation, ending of a war, reduced war risk premiums, strong foreign reserves and better access to foreign capital markets will help exporters cope with the loss of European trade preferences, the Central Bank said. Sri Lanka is due to lose the Generalized System of Preference Plus […]
Sri Lanka Treasury yields flat
July 01, 2010 (LBO) – Sri Lanka’s Treasury yields were flat at Wednesday’s auction with the government selling 2. 0 billion more bills to raise fresh cash from the market, the government’s debt office said. The 3-month yield was 8.07 percent, the 6-month yield 8. 93 percent and thee 12-month yield 9.29 percent. The debt […]
Sri Lankan stocks becalmed
June 30, 2010 (LBO) – Sri Lankan shares closed flat Wednesday as investors took profits from high value stocks, especially banks and re-invested in midcap shares, while a state fund bought into Colombo Dockyard boosting turnover by 50 percent, brokers said. Index heavy Distilleries Company of Sri Lanka, an alcohol manufacturer, closed at 129. 25 […]