Category:
‘s top general
November 13, 2009 (AFP) – Sri Lanka’s government sidelined top general Sarath Fonseka because of fears he would launch a coup, he wrote in a bitter resignation letter ahead of an expected election battle with the president. The United Nations reported that more than 7,000 civilians may have perished in fighting this year, though this […]
‘s top general quits ahead of vote
November 12, 2009 (AFP) – Sri Lanka’s top general Sarath Fonseka, a war hero at home credited with crushing Tamil rebels, quit Thursday, heightening speculation he will enter politics to challenge President Mahinda Rajapakse.“I gave my resignation. I have submitted my retirement papers,” Fonseka told reporters at a Buddhist temple he visited after sending his […]
Slippery Oil
Nov 13, 2009 (LBO) – Lanka IOC, the Sri Lankan unit of Indian Oil Corp., has said it made a loss of 203 million rupees in the September 2009 quarter, partly on losses from hedging in oil imports.The firm has been lobbying for lower import duties on fuel or higher retail prices which are government […]
Sri Lanka Treasuries yields fall 950bp over past year: Central Bank
Nov 11, 2009 (LBO) – Sri Lanka’s Treasury bill yields have fallen 947 to 950 basis points at primary auctions over the past year, helped by easier monetary policy, foreign investment into Treasuries and lower inflation, the Central Bank said.At Wednesday’s auction 3-month yields fell to 7.73 percent, the 6-month yield fell 22 basis points […]
Sri Lankan stocks up in low volume trade
Nov 12, 2009 (LBO) – Sri Lankan stocks closed up almost across the board Thursday, boosted by gains in selected index heavy blue chips despite low trade volumes, while retail investor sentiment remained poor, brokers said. The All Share Price Index closed at 2,927.56, up 2.57 percent (73.32 points) while the Milanka Price Index of […]
Sailing Away
Nov 12, 2009 (LBO) – Delays at Colombo port caused by disruptive labour union action might prompt international shipping lines to shift their hard-won custom to competing ports, the Sri Lanka Ports Authority (SLPA) has warned. The SLPA had promised “efficient and fast port services” and “higher productivity” to win the custom of the shipping […]
Sri Lanka Charter House clinches Maldives hotel deal
Nov 12, 2009 (LBO) – Sri Lanka’s Charter House International, a marketing and distribution group, said it has won an order to supply a new resort hotel run by Mount Lavinia Hotel Resorts in a Maldivian atoll.The company said in a statement it will supply bathware and sanitary fittings and hotel equipment for the TClub […]
Sri Lanka looks to mobile phones to improve farmer livelihoods
Nov 12, 2009 (LBO) – Sri Lanka’s information technology agency aims to deploy more widely a web-based crop price tracker and use mobile phones to help farmers improve production and marketing, an official said. Chitranganie Mubarak, Senior Programme Head – e-Society, of the Information Communications Technology Agency (ICTA), said the project is part of the […]
Sri Lanka apparel sector needs GSP plus: workers
Nov 12, 2009 (LBO) – Claims that alternative markets can be found if Sri Lanka loses European Union trade concessions are a ‘joke’ and if human rights are violated the state should take corrective action, apparel sector trade unions have said. The EU has threatened to withdraw access granted to Sri Lanka under its Generalised […]
Sri Lanka Sunshine Holdings eyes energy projects
Nov 12, 2009 (LBO) – Sri Lanka’s Sunshine Holdings said it is considering diversifying into the energy sector as part of the holding company’s strategy of expanding its portfolio of investments.Chairman Rienzie Wijetilleke said in a statement the group has a new subsidiary called Sunshine Power. “In accordance with long term diversification strategies to add […]
‘s top general quits: military source
November 12, 2009 (AFP) – Sri Lanka’s top general, Sarath Fonseka, the architect of the army’s victory over Tamil rebels who was switched to a more ceremonial position, quit Thursday, a military source said.Fonseka declared during a visit to the United States last month that he was willing to shed his uniform and take up […]
Sri Lanka expects 6.0-pct growth from 4Q: CB Governor
Nov 12, 2009 (LBO) – Sri Lanka’s economic growth is projected to touch 6.0 percent in the fourth quarter of 2009 allowing the country to return to a higher growth path from 2010, Central Bank Governor Nivard Cabraal said.Cabraal said government tax revenues, another direct indicator of economic activity, have also picked up. “Overall we […]