Category:
Opened Up
GENEVA, February 7, 2010 (AFP) – After relentless international pressure on Swiss banking secrecy, history came full circle last week when Germany decided to use stolen bank data to corner taxpayers with money hidden in Switzerland. Weary Swiss bankers tried to contain another onslaught that shook the remnants of the lucrative wall of secrecy they […]
Rail Finance
Feb 07, 2010 (LBO) – Sri Lanka is financing the purchase of rails to re-build tracks in the former war-torn eastern areas with loans from Hatton National Bank and UniCredit Bank of Austria, a senior minister said. There will be a commitment fee of 5 percent on the undrawn balance of the loan and a […]
Northern Recovery
Feb 07, 2010 (LBO) – Sri Lanka’s information communications technology industry wants to promote ICT business and skills in northern Jaffna to generate employment in the former war zone, officials said. The Federation of IT Industry Sri Lanka (FITIS) said it will hold an exhibition later this month in the Jaffna peninsula to create awareness […]
Sri Lanka to upgrade military capability with Russian credit: report
Feb 07, 2010 (LBO) – A 300 million US dollar credit line to be wrapped up during an official visit by Sri Lanka’s President Mahindra Rajapaksa to Russia, would modernise Sri Lanka’s military capability, a media report said. The Sunday Times newspaper said Moscow had offered to repair or replace all Russian origin military equipment […]
Britain to cut number of student visas issued
LONDON, February 7, 2010 (AFP) – Britain is to cut the number of visas it hands out to foreign students in a bid to stop people breaking the rules by working illegally, officials said Saturday. The change, which comes after Prime Minister Gordon Brown ordered a review of the system at the end of last […]
Sri Lanka in new tea marketing drive
Feb 06, 2010 (LBO) – Sri Lanka™s Tea Board has chosen MTI Consulting, a management consultancy, to develop a strategy to promote Ceylon tea, the island™s main commodity export. The Sri Lanka Tea Board (SLTB) said it chose the firm after a year-long competitive evaluation process. Tea is Sri Lanka™s second largest export earner next […]
Sri Lanka trade deal to be suspended by EU over rights: officials
BRUSSELS, February 5, 2010 (AFP) – EU nations have decided to suspend Sri Lanka’s preferential trade status because of the island’s human rights record and will make the formal move later this month, officials said Friday. “European ambassadors have taken the decision. The EU Commission’s investigation showed Sri Lanka has not demonstrated that it has […]
Sri Lanka historic fort to be conserved with Dutch aid
Feb 06, 2010 (LBO) – A Dutch fortress in Sri Lanka built to withstand solid shot artillery in colonial times but which was damaged by Tamil Tiger guns in a modern insurgency is to be conserved with aid from The Netherlands. Originally built by Portuguese colonial rulers in 1619, the fort was rebuilt and expanded […]
Sri Lanka under fire for emergency rule
February 6, 2010 (AFP) – Sri Lanka faced criticism Saturday for extending a state of emergency giving sweeping powers to security forces to detain suspects ahead of parliamentary elections due by April. A private poll-monitoring body, the People’s Action for Free and Fair Elections, said continuation of emergency rule could undermine the vote slated to […]
Sri Lanka stocks end up 0.24-pct
Feb 05, 2010 (LBO) – Sri Lankan shares ended firmer Friday with a few deals in financial stocks boosting trading turnover and investors anticipating profit-taking ahead as prices are at record highs, brokers said. “We tell investors to pick and chose fundamentally good stocks,†Perera said. “Even if there’s volatility, that’s good as it give […]
Sri Lanka state says ready to buy paddy output
Feb 05, 2010 (LBO) – A Sri Lanka state agency is to be given money to buy 140,000 metric tonnes of paddy produced in the upcoming main cultivation season to maintain farm-gate prices, a government minister said. Sri Lanka has high rice prices and from late December the government brought down high import tariffs to […]
Sri Lanka rains delay tea quality season
Feb 05, 2010 (LBO) – Heavy rains in some of Sri Lanka™s tea growing regions have delayed the onset of the quality season when plantations companies get high prices for their teas, brokers said. Prices fell at this week™s auction as larger volumes went on sale but sale quantities are expected to decline as dry […]