Tag: lbo
Sri Lanka to boost, tourism, investment links with Kazakhstan
Nov 23, 2012 (LBO) – Sri Lanka is expecting closer economic ties with Kazakhstan following a visit to the country by President Mahinda Rajapaksa, the state information office said. The information office quoted President Rajapaksa as saying that the two countries will commence negotiations on economic and technical co-operation, avoiding double taxation, investment protection and […]
Bidding Round
Nov 15, 2012 (LBO) – Sri Lanka will offer up to ten offshore oil blocks in a bidding round that may start as early as next month, Saliya Wickramasuriya director general of the island’s petroleum exploration office said. Blocks will be offered around the island ranging from the Western coast and curving over the north […]
Oil Gains
Nov 12, 2012 (LBO) – Lanka IOC, a unit of Indian Oil Corporation said profits in the September 2012 quarter rose 327 percent from a year earlier, partly helped by foreign exchange gains. The firm reported earnings of 2.22 rupees per share. In the six months to September the firm reported earnings of 2. 58 […]
Unhedged
Nov 02, 2012 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation has lost a 60 million dollar arbitration claim over oil derivatives against Deutsche Bank, a media report said. Reuters a news agency said a US based arbitrator has rule in favour of Deutsche Bank. “It’s against us,” the agency quoted Sri Lanka’s Attorney General […]
Lube Sentiment
Oct 30, 2012 (LBO) – Sri Lanka’s Chevron Lubriants unit said profits fell 13 percent to 521 million rupees in the September 2012 quarter from a year earlier poor market sentiment and a price hike due to currency depreciation hurting consumption. Revenues grew by a marginal 2.9 percent to 3.0 billion rupees from a year […]
Sri Lanka Tamil Tiger leader in charity work
COLOMBO, Oct 17, 2012 (AFP) – The last leader of Sri Lanka’s Tamil Tigers, who is wanted by India over the assassination of former premier Rajiv Gandhi, has been freed from military custody, the defence ministry said Wednesday. Selvarasa Pathmanathan, who was arrested in August 2009, was no longer in detention and was free to […]
Sri Lanka judges, magistrates, lawyers on strike over assault
Oct 08, 2012 (LBO) – Sri Lanka’s district judges and magistrates are striking Monday, while several lawyers associations had decided to keep away from court work, over the assault of a the secretary of the island’s independent judicial services commission. Sri Lanka abolished a civil service commission, which was in charge of appointing, transferring and […]
Sri Lanka scholar explodes China arms trade myths
Oct 07, 2012 (LBO) – Contrary to popular belief that Chinese arms sales to Africa fuel wars and human rights abuses, it is the United States that sells more weapons to autocracies there, a Sri Lankan scholar says. Much of the ‘China-bashing’ in the Western media is driven by domestic protectionist pressures and is reminiscent […]
US deplores insults to religious beliefs, violence in the name of religion
September 20, 2012 (LBO) – The United States Thursday reiterated that it had nothing to do with an anti Islam film that sparked violent protests by Muslim hardliners across the globe and cost the lives of US embassy staff including that of the ambassador in Libya. “It should be noted that the United States strongly […]
Kero Trend
Sept 20, 2012 (LBO) – Sri Lanka’s kerosene sales have come down after a price hike in February that reduced a subsidy given by tax payers, while highly taxed petrol sales continue to grow, official data show. Data released by the Central Bank shows that kerosene sales fell 26. 7 percent in June to 11,000 […]
Commonwealth ready to help Sri Lanka fix institutions, build capacity: Secy Gen
Sept 13, 2012 (LBO) – The Commonwealth is ready to help Sri Lanka strengthen its public service and key institutions, build leadership capacity of senior officials and uplift professionalism of the media, a top visiting official said. Sharma said the Commonwealth is also looking at developing youth entrepreneurship in rural areas, sports and development for […]
Fake Lubes
Sept 12, 2012 (LBO) – There was a thriving business in Sri Lanka involving the sale of unlicensed lubricants, adulterated and counterfeited brands and recycling used oil, which can damage vehicles engines, industry officials said. Such products used by unwary consumers could damage vehicle engines, he warned. Sri Lanka’s lubricant market was estimated at 60 […]