Tag: Sri Lanka
Lube Attraction
Aug 05, 2010 (LBO) – The Sri Lankan government has decided to further open up the lubricant market by allowing more suppliers with the aim of increasing competition and reducing prices, a spokesman said. Lubricant sale and production is a regulated industry in Sri Lanka. The local lubricant market was opened up in January 2007. […]
‘s peace without justice
August 3, 2010 (AFP) – A group of global statesmen, founded by Nelson Mandela, Tuesday criticised the Sri Lankan government for failing to build on peace brought to the island by the end of the civil war last year. Sri Lankan President Mahinda Rajapakse has dismissed calls for an international probe into alleged war crimes […]
Sri Lankan war refugees remain homeless: Tamil party
August 2, 2010 (AFP) – Thousands of men, women and children displaced by Sri Lanka’s civil war are living in the open air 15 months after fighting ended, the island’s main Tamil political party said Monday. The Tamil National Alliance (TNA) said the government’s promise that the civilians would be allowed to return to their […]
Sri Lanka gets US help for business in former war zone
Aug 02, 2010 (LBO) – The United States aid agency has tied up with Sri Lankan businesses to set up clothing, construction and computing ventures that will create employment in the island’s north, a statement said. The US Agency for International Development (USAID) said US government support is expected to create 10,000 full-time jobs in […]
Sri Lanka to lean on banks to lend, cut taxes: official
July 30, 2010 (LBO) – The Sri Lankan government intends to reduce taxes further and put pressure on commercial banks to lend more to the private sector, Sarath Amunugama, Deputy Minister of Finance and Planning, said. With the island’s agriculture and services sectors expanding very fast, there is a need to pay much more attention […]
Sri Lanka inflation slows to 4.3-pct in July
July 30, 2010 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 4. 3 percent in July 2010 from a year earlier, down from 4. 8 percent in June, the fifth straight monthly fall, the government statistics office said.But the 12-month moving average, which is a lagging indicator spread over two years and has […]
Sri Lanka private TV station torched
July 30, 2010 (AFP) – Unidentified attackers set fire to a private television station in the Sri Lankan capital Colombo Friday after smashing editing equipment, police said. Friday’s attack was the first targeting a private television station since an identical torching of another private TV network near the capital in January last year. No one […]
Sri Lanka informal Islamic financiers should prepare for regulation: official
July 29, 2010 (LBO) – Informal entities that have been operating as Islamic financiers in Sri Lanka will have to get their houses in order and become fully compliant with supervisory regulations ahead of a new law on deposit taking, an industry official said. “Some IFIs (Islamic financial institutions), because the owner is a well-known […]
Sri Lanka minister says China Exim Bank hard negotiators
July 29, 2010 (LBO) – China’s Export Import Bank, which has become a top funder of infrastructure in Sri Lanka, is a tough negotiator that goes through project proposals like a commercial bank while Europe is giving peanuts, a senior minister said. “China will give a 50 million dollar grant and they will not ask […]
Sri Lanka ex-army chief faces new trial
July 29, 2010 (AFP) – Sri Lanka’s former army chief and defeated presidential candidate Sarath Fonseka was brought before the Colombo High Court on Thursday to answer charges of provoking violence. Fonseka, who already faces two courts martial and two more criminal cases, was taken before a three-member “trial-at-bar” for the first time and charged, […]
Sri Lanka Keells Food trims Indian costs, cuts losses
July 27, 2010 (LBO) – Sri Lanka’s Keells Foods Products said its lost 5. 0 million in the June 2010 quarter down from 8. 6 million rupees a year earlier and its Indian distribution unit was being wound down in favour of an agency to cut costs. Consolidated revenues rose 16 percent to 479. 6 […]
Gas Concern
July 26, 2010 (LBO) – A large industrial user of liquefied petroleum gas as expressed concern over a proposed state take-over of a private gas distributor in Sri Lanka as energy sector management under state has created serious problems in the past. Lanka Tiles, a manufacturer and exporter of ceramic tiles says, it is braced […]