Tag: Sri Lanka
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June 03, 2011 (LBO) – Sri Lanka spent 5. 5 billion US dollars in its military campaign which crushed Tamil Tiger separatists, far less than what foreign powers spent on their current wars, central bank governor Nivard Cabraal said. “It was a vital investment not an expenditure like what many people would think it is,” […]
Sri Lanka deploys troops at free-trade zone
June 3, 2011 (AFP) – Sri Lanka deployed heavily-armed troops around the country’s main free-trade zone on Friday as tension mounted ahead of the weekend funeral of a factory worker shot dead by police, officials said. Soldiers were placed in the Katunayake zone, just next to the country’s only international airport where a range of […]
Sri Lanka state withdraws controversial pension bill
June 03, 2011 (LBO) – Sri Lanka minister of labour has withdrawn a proposed law to build a third state controlled pension fund from the salaries of private sector workers, following protests that left at least one worker dead. Sri Lanka’s labour minister Gamini Lokuge has formally withdrawn the bill, the department of labour said […]
Sri Lanka judicial independence seen weakening
June 03, 2011 (LBO) – The International Bar Association’s human rights arm said it was concerned over what it called “the increasing erosion of judicial independence in Sri Lanka.” The association’s Human Rights Institute (IBAHRI) said recent and planned changes to the island’s constitution could undermine the independence of the judiciary. The International Bar Association’s […]
Sri Lanka monks join anti-pension protests
June 3, 2011 (AFP) – Hundreds of Buddhist monks took to the streets of Sri Lanka’s capital Friday to express solidarity with factory workers protesting a controversial pensions bill. The legislation sparked clashes with police on Monday in which a factory worker was fatally shot and more than 150 were wounded. Saffron-robed clergy marched to […]
Sri Lanka pension bill protestor dies
June 02, 2011 (LBO) – A Sri Lankan worker who was shot while protesting a state plan to deduct more money from private sector worker salaries to build a new state-controlled pension fund has died as the country’s police chief stepped down. The proposed plan would see deductions going up further. Sri Lanka’s state workers […]
Sri Lanka central bank to restore second historic building
June 02, 2011 (LBO) – Sri Lanka’s central bank which has restored a historic building in Colombo city’s old quarter which features colonial era architecture will begin work on a second building that it has bought, a top official said. The central bank officially opened ‘Lloyds Building’ in Sir Baron Jayetilleke Mawatha in Colombo’s Fort […]
Sri Lanka tax collections up but revenue deficit wide in 1Q
June 01, 2011 (LBO) – Sri Lanka’s first quarter 2011 state revenues rose 19. 5 percent from a year earlier to 218.4 billion rupees ahead of annual projections of 17. 8 percent with people paying 24.3 percent more taxes , but the revenue deficit was wide. Current expenses pulled ahead at a 9. 9 percent […]
Sri Lanka arrests police over firing at protesters
June 1, 2011 (AFP) – Two senior Sri Lankan police officers have been arrested over live rounds fired at protests against a pension bill at which 150 people were injured in violent clashes. Police spokesman Prishantha Jayakody said the two inspectors were held over their conduct at Monday’s protest in Katunayake, a town near the […]
Sri Lanka export zone to reopen Thursday
June 01, 2011 (LBO) – Sri Lanka’s Export Processing Zone next to the Katunayake international airport is to be reopened Thursday following violent protests by workers against a new government pension bill they opposed. The Board of Investment said it requests all employees attached to the enterprises in the zone, north of Colombo, to report […]
Oil Trend
May 31, 2011 (LBO) – Lanka IOC, the Sri Lanka unit of Indian Oil Corporation lost 111 million rupees in the March 2011 quarter, on revenues of 16. 2 billion rupees, an analysis of audited accounts released to the Colombo stock exchange shows. Lanka IOC raised its diesel prices nine rupees above the competitor, state-run […]
Sri Lanka March exports surge 54-pct
May 31, 2011 (LBO) – Sri Lanka’s exports surged 54 percent in March to 1,057 million dollars, topping a billion dollars for the first time helped by a steep increase in industrial goods as well as rising commodity prices, official data showed. Investment goods imports rose 95 percent to 163 million US dollars and consumer […]