Category:
Sri Lanka US military in disaster readiness exercise
April 17, 2010 (LBO) – Sri Lanka’s military and the US Navy and conducted joint exercises on disaster readiness and medical response in the Eastern port city area of Trincomalee, the US embassy in Colombo said. “The joint exercise helped members from our two militaries to exchange best practices on how to address complex humanitarian […]
Flight bans extended into next week as ash cloud lingers
LONDON, April 17, 2010 (AFP) – Millions of people faced worsening travel chaos Saturday as a volcanic ash cloud from Iceland, which risks lingering over Europe for up to five more days, forced countries to extend flight bans. France decided to shut the three airports in the Paris area and others in the north of […]
Sri Lankan stocks end 0.28-pct up, Keells Hotels heavily traded
Apr 16, 2010 (LBO) – Sri Lankan stocks closed up Friday on price gains on mid- and small-cap stocks despite price drops in selected high value shares, while high institutional interest on John Keells Hotels pushed turnover past a billion rupees, brokers said. The All Share Price Index closed at 3,966.87, up 11.04 points, while […]
Water Losses
Apr 16, 2010 (LBO) – A tariff hike improved the finances of Sri Lanka’s state water supplier in 2009 but losses from leaks remain too high while purification costs are growing as pollution increases, the Central Bank said. “Revision of water tariff with effect from February 2009 has had a significant positive impact on the […]
Name Change
Apr 16, 2010 (LBO) – Sri Lanka’s dominant wireless operator Dialog Telekom intends to change its name to Dialog Axiata, following the renaming of its Malsyaian parent firm, a stock exchange filing said. Dialog Telekom said the name change is subject to approvals from shareholders and the company registrar. The proposed name “will accurately reflect […]
EU directive could stump cricket – report
LONDON, April 16, 2010 (AFP) – Cricket could be facing a world shortage of bats as a result of a European Union directive, according to a report in England on Friday. The bizarre crisis follows an EU decision to outlaw before export the chemical methyl bromide, which is an insecticide used to treat the wood […]
Sri Lanka opposition leader to be convicted next week: party
April 16, 2010 (AFP) – Sri Lanka’s detained ex-army chief and opposition leader Sarath Fonseka is likely to be convicted early next week to prevent him appearing in parliament, his party said on Friday. Fonseka, who won a seat in parliament while in custody, is in custody in the capital Colombo and faces a court […]
BBC World Service resumes FM broadcasts in Sri Lanka
LONDON, April 15, 2010 (AFP) – The BBC World Service announced Thursday the resumption of FM programming in Sri Lanka, 14 months after they were taken off air due to interference. World Service programmes in English, Sinhala and Tamil language, which had remained available on shortwave, will be reinstated on the SLBC national broadcaster, said […]
Sri Lanka moves to free prime property in capital
Apr 16, 2010 (LBO) – Prime property in Sri Lanka’s capital Colombo could be made available to private developers when the government goes ahead with a planned shift of state institutions, including defence, to the suburbs, officials said. “We’re waiting for the green light,” said an official of the Urban Development Authority, which is in […]
Sri Lanka central bank makes record profits
Apr 16, 2010 (LBO) – Sri Lanka’s Central Bank has made a record 33 billion rupee profit in 2009 as low yielding foreign reserves were lost and replaced with higher yielding domestic government paper during a balance of payments crisis. Even then yields on dollar and euro assets were also low. The central bank also […]
Sri Lanka gets ADB help to get more taxes, spend better
Apr 16, 2010 (LBO) – The Asian Development Bank said it will give Sri Lanka a 50 million US dollar loan to improve government revenue management, including tax collection, and state spending on infrastructure and the poor. It said in a statement that the ADB and Japan will support Sri Lanka with fiscal reforms to […]
Sri Lanka shares end down 0.07-pct
Apr 15, 2010 (LBO) – Sri Lankan stocks closed weaker Thursday, easing off record highs on thin volumes as investors took a break for the traditional New Year celebrations in a short trading week, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share […]