Category:
Ocean Lines
Mar 15, 2007 (LBO) –Sri Lanka is to soon begin a survey to re-draw its continental shelf boundary with the help of a British survey company, a top official said Thursday. (1 nautical mile = 1.852 kilometers) Geophysical survey company Geotechnical Engineering and Marine Surveys (GEMS) of the UK is to conduct the two-month study, […]
Moody bats for World Cup minnows
PORT OF SPAIN, Trinidad, March 15, 2007 (AFP) – Sri Lanka coach Tom Moody said Wednesday he would not be surprised if the minnows stretched top sides in the World Cup.Six non-Test-playing nations are in the fray in the mega one-day event, with Bermuda and Ireland making their Cup debuts. Others are Scotland, Kenya, the […]
Reforms to end Sri Lankan conflict ready next month: FM
WASHINGTON, March 14, 2007 (AFP) – Constitutional reforms aimed at ending three decades of ethnic bloodshed in Sri Lanka could be finalized as early as next next month, Foreign Minister Rohitha Bogollagama said here Wednesday. “We are expecting it to be by April, the political process to come up with definite proposals for a political […]
Marine Land
March 15 (LBO) – Sri Lanka has accepted a proposal to reclaim the sea and develop 450 acres of land alongside the Colombo Port by John Keells Holdings (JKH), a senior minister said. Updated/adds quotes “In the committee headed by the president we approved a very important and a flagship project to add 450 acres […]
‘s exports grow but trade deficit widens
March 15 (LBO) – Sri Lanka’s exports grew by 11.2 percent in January led by industrial exports which surged 15.6 percent, the Central Bank said Friday. Tea exports were hit by production shortfalls following the strikes in December, but apparel exports surged 28.1 percent to 221 million dollars. “However, within the agricultural sector, the increase […]
Sri Lanka sells 100 million dollars worth of rupee gilts to foreigners
March 14 (LBO) – Sri Lanka has sold half of the targeted 20 billion rupees worth of bonds to foreign buyers this year, the country’s public debt office said.“Foreign investment in government Treasury bonds has shown a remarkable progress exceeding the total investment which now stands at over 50 per cent of the annual target […]
Second Life
March 14 (LBO) – After several false starts, the failed Pramuka Bank would start operations 0n June 01 as the Sri Lanka Savings Bank, the finance ministry said Wednesday. The Pramuka Bank licensed as a specialized bank was closed by the Central Bank in October 2002, with an estimated 80 percent bad loans. Of the […]
Health Wins
March 14 (LBO) – Sri Lanka’s health service is now detecting tuberculosis patients faster and the infection rate of the once fatal disease is trending down, officials said.The national program hopes to decentralize treatment centers to better fight the disease where it occurs, Surakkali says. Last year 8,000 new infections had been detected which was […]
No Skin
March 14, 2007 (AFP) – Sri Lanka banned on Wednesday the use of naked or semi-naked models in advertising, saying it was seeking to protect those offended by public nudity.The Ministry of Cultural Affairs announced the ban through notices in Sinhalese-language newspapers, warning advertisers against the use of unclothed males or females. The ministry statement […]
Petro Law
March 14 (LBO) – Sri Lanka is to develop an oil exploration laws and establish a regulatory system with funding from the United States, the US embassy in Colombo said Wednesday.The Ministry of Petroleum and Petroleum Resources Development is getting a 51 million rupee grant from the US Trade and Development Agency to develop oil […]
Suntel Sale
March 14 (LBO) – Seven suitors are chasing Sri Lanka’s wireless operator Suntel, but its parent Telia of Sweden may even consider a stock market listing in Colombo if a sale does not go through, a top official said. TeliaSonera, the holding company of Overseas Telia which owns Suntel, is among six firms listed for […]
Asian stocks down sharply as Wall St nerves hit home
HONG KONG, March 14, 2007 (AFP) – Asian stock markets closed sharply lower Wednesday, hit by a fresh round of turmoil after Wall Street tumbled overnight on figures showed growing problems in the US housing market, dealers said.They said investors were already wary following their battering earlier this month when a dramatic sell-off in Chinese […]