Tag: lankabusinessonline
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July 30, 2011 (AFP) – An ethnic Tamil journalist in Sri Lanka’s formerly embattled north was brutally attacked with iron bars, police said on Saturday, the latest in a string of assaults on the nation’s media. UN records show 5,653 outstanding “enforced and involuntary disappearances” in Sri Lanka. Among those missing is freelance journalist and […]
Sri Lanka inflation accelerates to 7.5-pct in July
July 29, 2011 (LBO) – Consumer inflation in Sri Lanka’s capital Colombo accelerated to 7.5 percent in July from 7.1 percent in June, with prices rising 0.4 percent during the month, the government’s statistics office said. Non-food items in the basket rose 1.4 percent and food and non-alcoholic beverages fell 0.8 percent. Sri Lanka’s inflation […]
Sri Lanka tractor firm expects brisk sales in the north
July 29, 2011 (LBO) – Sri Lanka’s Brown & Company, which claims market leadership in agricultural tractors, said it expected sales of around 1,000 units in the next six months with 45 percent coming from former war-torn areas. Sri Lanka Insurance chief executive Mohan de Alwis said the firm was looking to expand its insurance […]
Deaf Sri Lankans protest for equal rights
July 29, 2011 (LBO) – Hundreds of deaf Sri Lankans took to the streets on Friday demanding equal rights and more people to translate sign language so they can have better access to medical and other services. The peaceful march in Colombo ended after the organisers were allowed to walk to Sri Lankan President Mahinda […]
Sri Lanka rejects new war crimes charge
July 28, 2011 (AFP) – Sri Lanka’s military Thursday rejected new allegations that its political bosses ordered the execution of surrendering Tamil rebels during the final days of the island’s separatist war. Reacting to a new broadcast from Britain’s Channel 4 that accused defence secretary Gotabhaya Rajapakse of ordering executions, military spokesman Ubaya Medawela dismissed […]
Bunker Biz
July 27, 2011 (LBO) – Mc Marine (Pvt) Ltd, a newly incorporated bunkering unit of Sri Lanka’s McLarens shipping group which is planning to cater to ships off the south of the island, has recruited Channa Abeyagunewardena as its chief executive. Sri Lanka started to make greater inroads into bunkering after a state monopoly and […]
Sri Lanka foreign reserves move towards US$8bn
July 26, 2011 (LBO) – Sri Lanka’s foreign reserves would be close to eight billion US dollars after proceeds from a billion dollar sovereign bond comes to the country, Central Bank Governor Nivard Cabraal said. The balance is expected to be disbursed in two tranches after reviews in September and March. By end May Sri […]
Sri Lanka inflation panic level above 7.0-pct: Treasury secretary
July 26, 2011 (LBO) – Sri Lanka should keep inflation below 7. 0 percent to ensure economic stability Treasury Secretary P B Jayasundera said, as lower levels of inflation may be beyond the capacity of economic policies to deliver. Additional inflation is created by central bank credit, such as liquidity facilities given to banks or […]
Sri Lanka lawmaker challenges minister to debate over land deal
July 25, 2011 (LBO) – A Sri Lankan lawmaker has challenged a government minister to a television debate over the sale of state land to a Chinese firm. Harsha de Silva, a lawmaker representing Sri Lanka’s main opposition United National Party, referred to a statement attributed to deputy economic development minister Lakshman Yapa Abeywardene by […]
Sri Lanka Tamil party sweeps north local bodies
July 25, 2011 (LBO) – A Tamil minority party has swept the polls in Sri Lanka’s former war torn northern areas while the ruling coalition consolidated its gains elsewhere in a local government body poll. Out of 65 local bodies where elections were held over the weekend, the ruling United National People’s Alliance won 54 […]
US panel votes to bar aid to Sri Lanka
WASHINGTON, July 22, 2011 (AFP) – A US congressional committee voted Thursday to ban aid to Sri Lanka unless the nation shows “accountability” over the bloodshed in the final stages of its civil war in 2009. In a voice vote, the House Foreign Affairs Committee approved a measure that would ban all US government funding […]
Sri Lanka peace dividend in low rates, higher capex: Treasury Secy
July 20, 2011 (LBO) – Sri Lanka is seeing a peace dividend in the form of lower interest rates, taxes, inflation and higher capital expenditure after a 30-year war ended, Treasury secretary P B Jayasundera said. He said defence expenditure which was about 5.0 percent of gross domestic product during the war years, has now […]