Category:
Sri Lanka needs new phase in international diplomacy: President
June 3, 2009 (LBO) – Sri Lanka needs a new diplomatic drive to win in the international arena, after defeating terrorism in the country, President Mahinda Rajapaksa said in a nationally televised address. “Many countries have helped us,” President Rajapaksa said. “We appreciate it very much. “The hearts of our people will remember it.” Government […]
Sri Lankan minister seeks Japanese aid, rejects rights probe
TOKYO, June 3, 2009 (AFP) – Sri Lanka’s trade minister on Wednesday sought Japan’s help for its recovery from ethnic conflict, while reiterating his government’s rejection of any probe into alleged human rights violations.Colombo has faced allegations that thousands of civilians perished in the final battle last month against Tamil Tiger separatists, as the island […]
Sri Lanka offered investment by Canadian business council
June 03, 2009 (LBO) – Two bilateral business councils promoting trade and investment between Sri Lanka and Canada have offered their support to revive the island’s economy with the end of the ethnic war.The Ceylon Chamber of Commerce, which represents the Sri Lanka-Canada business councils, said they had written to President Mahinda Rajapaksa offering support […]
Sri Lanka should drop popular politics to boost economy: President
June 3, 2009 (LBO) – Sri Lanka should cut the budget deficit, drop popular politics and ideologies in meeting the challenge of developing the country, President Mahinda Rajapaksa said.“Reducing the budget deficit, investment promotion and economic development is possible after defeating terrorism,” President Rajapaksa said in a nationally televised speech at a ceremony in Colombo. […]
High inflation increases hunger in South Asia: UNICEF
NEW DELHI, June 2, 2009 (AFP) – The global financial crisis and a spike in fuel and food prices have left 100 million more people without adequate food in South Asia compared to two years ago, according to a UNICEF report Tuesday. More than 400 million people face hunger in a region where over 75 […]
Sri Lankan stocks down as investors pause
June 02, 2009 (LBO) – Sri Lankan stocks fell 1.1 percent Tuesday as investors took a breathe, halting a two-week bull run, while the rupee remained firmly fixed to the greenback, brokers and dealers said. The spot dollar was trading at 114.80/90 in late afternoon trade, after expansionary central bank interventions ended, dealers said. The […]
Rough Seas
June 02, 2009 (LBO) – Sri Lanka’s Mercantile Shipping Company said it made a loss in the 2008-09 financial year during which it sold off old ships and firmed up orders for new ones. The company said a voluntary retirement was offered in the March quarter and that based on the number of applications and […]
Audit Query
June 02, 2009 (LBO) – The auditors of Sri Lanka’s Seylan Bank have qualified its 2008 accounts over related party transactions and flagged overdue loans as the regulator looks for a strategic partner to bring in new capital. KPMG Ford, Rhodes, Thornton & Company said they could not confirm the completeness of the related party […]
Bank Numbers
June 02, 2009 (LBO) – Sri Lanka’s National Development Bank (NDB) group net profit went up 30 percent to 455 million rupees in the quarter ended March 31, 2009 despite the adverse economic conditions, while bad loan provisions increased. Total group income roe 18 percent to 3.6 billion rupees, the bank said in a statement. […]
Slow Sales
June 02, 2009 (LBO) – Listed consumer durables firm Singer (Sri Lanka) said March 2009 quarter profits plunged 79 percent to 26 million rupees from a year ago as consumer spending slumped amid an economic slowdown. Group sales for the three months ended March 31, 2009 fell 23 percent to three billion rupees, the company […]
‘s mobile subscriber base crosses 400 million
NEW DELHI, June 2, 2009 (AFP) – The number of mobile subscribers in India crossed the 400 million mark in April, official data showed Tuesday, putting the country on track to reach its goal of 500 million customers by next year.Some 11.90 million subscribers were added in April compared with 15.64 million during the previous […]
Is lightening a risk for modern aircraft?
PARIS, June 2, 2009 (AFP) – Passenger jets are hit by lightning every 1,000 hours — on average twice a year — and experts say the risk from the bolts of electricity is growing. But technical experts, astounded like everyone else by the disappearance of an Air France jet in the Atlantic with the feared […]