Tag: lbo
Sri Lanka business groups oppose UN war crimes resolution
Mar 20, 2012 (LBO) – Sri Lanka’s business chambers have opposed a resolution in the United Nations Human Rights Council against alleged war crimes in the campaign that crushed Tamil Tiger separatists. “The joint Chambers of Commerce of Sri Lanka express concern over the resolution to be tabled at the UNHRC against Sri Lanka,” they […]
Lube Location
Mar 19, 2012 (LBO) – Chevron Lubricants Lanka, a unit of the US based group said it will re-locate its blending and packing plant with the end of a land lease with a state-run petroleum firm. “In order to sustain the long term growth of the business, the Board has made a decision to relocate […]
Sri Lanka might lose Indian support on war crimes issue: reports
Mar 19, 2012 (LBO) – India might vote against Sri Lanka in the United Nations Human Rights Council which is debating alleged war crimes in the island, news reports quoted Indian prime minister Manmohan Singh as saying. Tamil Nadu political parties have been urging the Indian government to take a strong stand on the atrocities […]
Oil Agenda
Mar 15, 2012 (LBO) – Sri Lanka will auction shallow water blocks in the Mannar Basin to oil exploration companies soon following the discovery of gas by Cairn India in two of three test wells, an official said. Total of France is one of the oil majors which have shown interest in Sri Lanka. “They […]
Safe Search
Mar 15, 2012 (LBO) – Sri Lanka is considering setting up a regional safety training for the oil and gas industry following the discovery of gas in its offshore waters, an official said. Saliya Wickramasuriya, the island’s Director General of Petroleum Resources Development, said safety training is an important requirement for the oil industry which […]
Price Signals
Mar 05, 2012 (LBO) – Sri Lanka’s Gampaha district in the Western province bordering the capital Colombo was the area with the highest kerosene consumption with most of it going to factories, the finance ministry said. Though there was a widespread belief that kerosene is consumed by poor households with no electricity including houses of […]
Burning Loss
Mar 03, 2012 (LBO) – Giving subsidized furnace oil to a state-run power utility was the main main source of losses at a petroleum utility, while the private firms also made higher profits due to cheap power, the finance ministry said. The finance ministry said state-run Ceylon Petroleum Corporation lost 90 billion rupees in 2011 […]
‘s central bank says S&P downgrade unwarranted
Feb 29, 2012 (LBO) – Sri Lanka’s Central Bank says an outlook and rating by Standard & Poor’s in the wake of balance of payments pressure is unwarranted because corrective steps have been taken by the government. S&P on Wednesday cut the outlook on Sri Lanka’s ‘B+’ foreign currency rating to ‘stable’ from ‘positive’ and […]
UK restricts skilled workers; allows servants, scientists
Mar 01, 2012 (LBO) – The United Kingdom has tightened immigration rules, ending automatic settlement for skilled workers but allowing scientists and those in low-paid jobs where there are worker shortages and limited stay for servants. œOur reforms of the immigration system will ensure we are more selective, not only about those who are allowed […]
Sri Lankan should flag social issues creatively: Bangladesh photo activist
Feb 28, 2012 (LB) – Bangladesh photographer, activist and social entrepreneur Shahidul Alam, challenged Sri Lankans to think creatively to flag social issues that grips the developing world. Driven by largely autocratic governments, developing nations like Sri Lanka battle veiled censorship, subtle military rule and commercial pressure that often suppress unsavoury topics. “Don’t let those […]
Fuel Protests
Feb 13, 2012 (LBO) – A steep fuel price increase in Sri Lanka to correct mounting economic imbalance and pressure on a currency peg has seen protests by bus operators and fishermen, reports said. Fishermen blocked a road on the main road to the capital Colombo from Negambo, a fishery centre, a media report said. […]
Price Hike
Feb 11, 2012 (LBO) – Sri Lanka has steeply raised the price of diesel partially correcting chronic mis-pricing between refined fuels in a move that could also help reduce loans taken by petroleum distributors and stabilize a weakening exchange rate. Diesel may be now priced just around cost when freight, port levies and taxes are […]