Tag: news
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June 27, 2014 (LBO) – Sri Lanka’s Ceylon Chamber Chamber of Commerce said incumbent chairman Suresh Shah who was re-elected had called on private business to build peace and harmony.His call comes in the wake of rising nationalism in the country and recent mob attacks on minorities that left three people dead. “I call upon […]
Sri Lanka support military, education services in Maldives
June 27, 2014 (LBO) – Sri Lanka has offered to train soldiers, teachers and provide scholarships for students and had talks on building coast guard boats for Maldives following a visit by President Mahinda Rajapaksa to the country.The president’s media office said Defence and National Security Minister of Maldives Mohamed Nazim had requested Sri Lanka […]
Sri Lanka looking for alternative ways to unload crude: minister
June 26, 2014 (LBO) – Sri Lanka is looking for a small vessel to unload crude mid-sea from tankers and bring oil to a refinery after a hose in an offshore mooring buoy burst, petroleum minister Anura Yapa said. He said if necessary refined products could be imported. Already two thirds of the fuel to […]
‘s Nippon Paint in DIY strategy to kindle demand
June 26, 2014 (LBO) – Sri Lanka’s Nippon Paint Lanka is pushing into the do-it-yourself market as weak spending power coupled with higher labour costs has led to a slump in demand, officials said. “As an industry we are not doing very well. This is not common to us but even the other companies face […]
Sri Lanka macro-prudential indicator may be upgraded: Fitch official
June 25, 2014 (LBO) – A Macro Prudential Indicator for Sri Lanka which was downgraded to ‘3’, may be lifted in the future as risks recede, amid slower credit growth, a top Fitch Ratings official said.Mark Young head of Asia Pacific Financial Institutions at Fitch Ratings said with weaker credit growth there was room for […]
Sri Lanka to dig up suspected Muslim mass grave
COLOMBO, June 24, 2014 (AFP) – Sri Lankan authorities are to dig up the site of a suspected mass grave next week after claims it contains the bodies of scores of Muslims killed by Tamil rebels 24 years ago, police said Tuesday.The Muslim community, which accounts for around 10 percent of the island’s population and […]
Sri Lanka banks managing risks, credit upturn expected: Fitch official
June 23, 2014 (LBO) – Sri Lanka’s banking system is managing the risks of bad loans especially from gold-backed loans but high credit growth targets by some banks are a concern, a top Fitch Ratings official said.Bad loans in Sri Lanka’s banking system spiked after low interest rates up to 2011 set off a credit […]
Sri Lanka warned it may suffer same fate as Vietnam
June 21, 2014 (LBO) – Sri Lanka’s Communist Party recognized Vietnam’s claims to islands which are at a centre of a dispute with China a top official said, amid warnings that Sri Lanka could suffer the same fate from aggressive large nations. “As far as we are concerned we recognize the right of the Vietnamese […]
Sri Lanka Muslims cut back Friday prayers after unrest
COLOMBO, June 20, 2014 (AFP) – Sri Lanka’s Muslim minority held shortened Friday prayer services as religious tensions gripped the island after clashes with hardline Buddhists killed four people, an official said. The Muslim Council of Sri Lanka (MCSL) said Islamic clerics instructed mosques to conduct shorter services and asked the faithful to disperse peacefully […]
‘s Mattala airport speeds up refueling
June 21, 2014 (LBO) – An aviation fuel hydrant and storage terminal at Sri Lanka’s Mattala Rajapaksa International Airport, has allowed it to refuel the largest aircraft in the world quickly, the state petroleum utility said.Ceylon Petroleum Corporation which has a monopoly of fuel supply at Sri Lanka’s two international airports said the airport originally […]
Sri Lanka should continue investments, improve skills, rule of law: ADB chief
June 18, 2014 (LBO) – Sri Lanka should look at private partnerships to expand infrastructure, reform state enterprises and strengthen the investment climate by improving rule of law and governance, Asian Development Bank chief Takehiko Nakao said. Sri Lanka’s government is investing about 6 percent of gross domestic product in physical infrastructure which was higher […]
Muslims ask for UN probe into Sri Lanka religious riots; President tours area
BERUWALA, June 18, 2014 (AFP) – The main Muslim party in Sri Lanka’s ruling coalition Wednesday demanded a UN probe into one of the country’s worst-ever religious riots, as President Mahinda Rajapakse toured the violence-hit resort region. The Sri Lanka Muslim Congress (SLMC) said it was also boycotting parliament Wednesday as a protest against Colombo’s […]