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Election set to strengthen Sri Lanka president
COLOMBO, April 5, 2010 (AFP) – Sri Lankan President Mahinda Rajapakse, accused by critics of stifling dissent and persecuting the opposition, looks set to consolidate his hold on power in parliamentary elections this week. Rajapakse called Thursday’s vote two months ahead of schedule after his thumping re-election in January and his Freedom Alliance party is […]
Sri Lanka LOLC sets up insurance subsidiary
Apr 05, 2010 (LBO) – Sri Lanka’s Lanka ORIX Leasing Co. (LOLC) has set up an insurance subsidiary as it waits for a license to get into the insurance business, a stock exchange filing said. Lanka ORIX Leasing Co. was the island’s pioneer leasing firm and is backed by ORIX Corporation of Japan. The unit, […]
Sri Lankan hydro power producer starts new plant
Apr 05, 2010 (LBO) – Sri Lankan private power producer Vidullanka PLC commissioned and connected its fourth power plant to the national grid on March 26, the company said in a stock exchange filing. The plant is owned by Gurugoda Hydro, a joint venture between Vidullanka and Hiradamani Pvt Ltd. It was built by Vidul […]
‘s status as a shipping hub
Apr 05, 2010 (LBO) – Sri Lanka is to become a “Naval, Aviation, Commercial, Energy and Knowledge hub.” What are the conditions for maintaining and enhancing Colombo’s position as a shipping hub for the southern Indian subcontinental region? This is perhaps the easiest of the five. We have to thank the late Minister Lalith Athulathmudali […]
Sri Lanka president seen strengthened by election
April 5, 2010 (AFP) – Sri Lankan President Mahinda Rajapakse, accused by critics of stifling dissent and persecuting the opposition, looks set to consolidate his hold on power in parliamentary elections this week. Rajapakse called Thursday’s vote two months ahead of schedule after his thumping re-election in January and his Freedom Alliance party is in […]
Sri Lanka lures Tamil diaspora investment for former war zone
Apr 05, 2010 (LBO) – Sri Lanka’s investment promotion agency said it has set up an office in the former war zone of northern Jaffna to handle foreign investments especially from Tamils who migrated to avoid the conflict. The Board of Investment said in a statement staff at its new Jaffna branch are all Tamil […]
Sri Lanka exporters have to face stronger rupee: Treasury Secretary
Apr 05, 2010 (LBO) – Sri Lanka’s exporters should get ready to face a steadily strengthening exchange rate and improve productivity to operate in the new environment, Treasury secretary P B Jayasundera said. “Our currency has depreciated but from this year, it will appreciate,” Jayasundera told a forum at central bank’s headquarters in Colombo. “Our […]
‘s counterproductive nationalism
Apr 04, 2010 (LBO) – This is an election special. There is value in analyzing election messages. Whether positive or negative, such analysis advances debate and understanding. As said elsewhere, elections are teachable moments. And a note to the candidates: “Publicity, darling. Just publicity. Any kind is better than none at all.” (As said by […]
Sri Lanka military on alert ahead of vote: police
April 4, 2010 (AFP) – Sri Lanka placed nearly 20,000 troops on alert to reinforce police as violence escalated ahead of parliamentary elections, a police spokesman said Sunday. Police said they had received 270 polls-related complaints and 200 people had been arrested. The private Centre for Monitoring Election Violence (CMEV) reported 325 minor incidents of […]
Loan Conversion
Apr 03, 2010 (LBO) – Sri Lankan glass maker, Piramal Glass Ceylon, a Sr has converted more than half of its long term rupee debt to dollar loans to cut finance costs, a senior official said. “We have recently in the last quarter converted our (rupee) loans to foreign currency loans,” Sanjay Tiwari, chief executive […]
ICC works to ease visa problems for WCup
April 2, 2010 (AFP) – The International Cricket Council on Friday said it was working to ease visa complications for overseas fans wishing to travel to the 2011 World Cup on the Indian sub-continent. Sri Lanka, India and Bangladesh who are co-hosting the flagship event have promised to speed-up and simplify the visa issuing process, […]
Sri Lanka detained writer probed for radical links: police
April 3, 2010 (AFP) – A Sri Lankan woman taken into custody last month for writing books about her conversion to Islam for Buddhism is being investigated for possible links to Islamic extremists, police said Saturday. Last weekend, police said the woman, identified as Malini Perera, was taken into custody under tough emergency laws over […]