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Sri Lanka apparel exporter goes east
Sept 02, 2009 (LBO) – A big Sri Lankan apparel exporter has set up a new factory in the east after it was cleared of Tamil Tiger rebels, saying its main baby wear product has not been affected by the slump in demand caused by recession.Kumar Dewapura, chairman of Tristar Apparel Exports, said the 50,000 […]
Sri Lanka may lose EU trade concessions: report
Aug 02, 2009 (LBO) – Sri Lanka may lose lucrative trade concessions to the European Union as the results of an initial investigation on human rights abuses in the country was very adverse, a media report said. EU has banned the Tigers as terrorists but relations with the West deteriorated in the last stages of […]
Sri Lanka stands ground over jailing of journalist
September 2, 2009 (AFP) – Sri Lanka on Wednesday rejected international criticism of the sentencing of a journalist to 20 years of hard labour over his alleged links to Tamil Tiger separatist rebels.The foreign ministry in Colombo said the widespread condemnation, led by the United States and media rights groups, was an attempt at “undermining […]
‘s sentence
PARIS, September 1, 2009 (AFP) – France sharply rebuked the government of Sri Lanka on Tuesday after a court there sentenced a reporter to 20 years in prison on terrorism charges related to his alleged ties to Tamil rebels. “J.S. Tissainayagam was given this heavy sentence simply for carrying out his profession as a journalist,” […]
US, press groups condemn Sri Lanka over jailed journalist
September 1, 2009 (AFP) – Sri Lanka faced a barrage of criticism on Tuesday for sentencing a journalist to 20 years of hard labour, led by US condemnation and warnings about censorship from press freedom groups.Human Rights Watch urged Sri Lankan President Mahinda Rajapakse to overturn the Colombo High Court order that on Monday convicted […]
Sri Lanka bill yields flat
Sept 01, 2009 (LBO) – Sri Lanka Treasuries yields were flat for the fourth week running at Tuesday’s auction with the 3-month yield at 10.55 percent, down 02 basis points and the 6-month yield at 11.42 percent, down 01 basis point, the government’s debt office said.However the Central Bank has been sterilizing liquidity on a […]
Sri Lankan stocks close down 0.16-pct
Sep 01, 2009 (LBO) – Sri Lankan shares closed down Monday owing to profit taking from last week’s gains, while investors bet heavily on market speculation of a possible takeover of The Finance Company by Merchant Bank of Sri Lanka, brokers said. The benchmark Colombo All Share Price Index (ASPI) fell 0.16 percent (4.28 points) […]
Rail Move
Sept 01, 2009 (LBO) – Sri Lanka’s state-owned railway has ordered wagons to transport petroleum products from Pakistan as it seeks to increase freight transport by rail to reduce congestion on roads, a senior official said.The railway service has been making heavy losses in recent years and has not been allowed by government to raise […]
Slow Transport
Sept 01, 2009 (LBO) – Vehicle imports to Sri Lanka fell 35.5 percent in June with motor cars falling 70.6 percent, three wheelers, 33.6 percent and motor cycles 24.1 percent, the latest official data shows.In the 6-months to June total vehicles imports were down 33.4 percent, according to data released by the Central Bank. In […]
Sri Lanka tea exporter profits halve, demand down
Sept 01, 2009 (LBO) – Sri Lanka’s Ceylon Tea Services, which exports value-added teas under the Dilmah brand, said net profit halved last year and sales are likely to remain poor this year owing to recession.Group net profit in the year ended March 31, 2009 fell 55 percent to 487 million rupees from a year […]
Emblematic Example
WASHINGTON, August 31, 2009 (AFP) – The United States criticized Sri Lanka Monday for sentencing to 20 years in prison a Tamil reporter whose case has been highlighted by US President Barack Obama. “We were disappointed to learn of the verdict and the severity of the sentence,” State Department deputy spokesman Robert Wood said after […]
‘s Maruti Suzuki posts record exports
MUMBAI, September 1, 2009 (AFP) – India’s largest carmaker Maruti Suzuki India, majority-owned by Japan’s Suzuki Motor, announced record exports Tuesday in August, led by strong sales across European markets.Maruti’s exports nearly tripled to 14,847 vehicles during the month, from 5,795 a year earlier, helped by its A-star hatchback launched last November. “Data showed the […]