Tag: lbo
Oily Issue
July 1, 2011 (LBO) – Long queues of cars have built up around some fuel stations of the Sri Lanka unit of India Oil Corporation after car owners complained of engine trouble after filling up from their competitor. Customers who used petrol sold by state-run Ceylon Petroleum Corporation have complained that they had to replace […]
Sri Lanka to take-over land to build new city in Hambantota
June 30, 2011 (LBO) – Sri Lanka will take-over land in Hambantota in Southern Sri Lanka to build a new business and industrial city which will have housing, hotels, a theatre, schools, beach parks and, the government’s information office said. Sri Lanka’s cabinet of ministers had given the nod to give Urban Development Authority (UDA) […]
Sri Lanka inflation eases to 7.1-pct in June
June 30, 2011 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 7.1 percent by June 2011, down from 8. 2 percent in May, with prices falling 0. 2 percent during the month, the government’s statistics office said. The food category fell 1.0 percent during the month, but all other categories rose or were […]
Fuel Fiasco
June 30, 2011 (LBO) – Sri Lanka’s petroleum industries minister has rejected allegations the government imported low quality petrol, saying motorists whose vehicles were damaged had been supplied fuel contaminated by rain and dregs. Susil Premajayantha said motorists who could prove they had been supplied contaminated fuel would be given compensation. He rejected allegations the […]
Sri Lankan public officials get Japanese scholarships
June 29, 2011 (LBO) – Talented young Sri Lankan public officials are to be sent to Japan for two-year Masters Degrees under Japanese government scholarships, an embassy statement said. So far over 11,000 Sri Lankan trainees have completed short and long-term training in Japan and in third countries through Japan’s assistance. Japan has given 208 […]
Growing urban population strains Chinese cities
CHONGQING, June 26, 2011 (AFP) – A forest of buildings and cranes rises through thick fog above roads jammed with cars in a Chinese city the size of Austria and home to more than 32 million people. The southwestern megacity of Chongqing is bursting at the seams as authorities struggle to keep pace with its […]
Sri Lanka defence expenses upped
June 24, 2011 (LBO) – Sri Lanka has asked parliament permission to increase the money allocated for defence expenses for 2011 by 20 billion rupees to build a new headquarters for the military, a media report said. Some military facilities on prime land in Sri Lanka’s capital Colombo had been cleared for commercial development with […]
Sri Lanka economic forum to fast track investment, growth
June 24, 2011 (LBO) – An economic forum next month organized by Sri Lanka’s largest business chamber hopes to come up with initiatives to boost actual investments and growth after the end of a 30-year war, officials said. Set on a theme of ‘Driving growth through fast track implementation’ this years’ two day forum will […]
Sri Lanka to get US1.5bn from China bank
June 23, 2011 (LBO) – China Development Bank Corporation has agreed to finance infrastructure projects in Sri Lanka amounting 1.5 billion US dollars over the next three years, minister Anura Yapa said. China is becoming a key financier of Sri Lanka displacing traditional donors, Japan and the Asian Development Bank. “The financial assistance will be […]
Sri Lanka regime rejects press freedom bill
June 21, 2011 (AFP) – Sri Lanka’s ruling party used its parliamentary majority Tuesday to defeat an opposition-initiated bill to grant greater media freedom, a parliamentary official said. President Mahinda Rajapakse’s United People’s Freedom Alliance, which enjoys a two-thirds majority in the 225-member assembly, shot down the Freedom of Information Bill presented by an opposition […]
Sri Lanka looks to expand economic links with Russia
June 21, 2011 (LBO) – Sri Lanka is expanding economic ties with Russia as the country looks to rebuild its economy after a 30-year war with a large state run firm being invited for talks on the oil and gas sectors and air links resuming, officials said. President Mahinda Rajapaksa attended an economic forum in […]
Refining Revision
June 20, 2011 (LBO) – Sri Lanka is holding talks with Iran to get more funds to expand its sole oil refinery after new feasibility studies indicated the cost would rise to two billion US dollars, an official said. Titus Jayewardene, secretary to the petroleum ministry, said the cost of the modernisation to double refining […]