Tag: Sri Lanka
Sri Lanka civil rights body warns of growing repression
Feb 24, 2010 (LBO) – Sri Lanka’s Civil Rights Movement (CRM) said recent attacks on peaceful anti-government protestors by government supporters indicated an ‘alarming slide’ towards curbs on democracy. The CRM said previous attempt to violently suppress peaceful protest had given rise to violent rebellions. The Tamil Tiger separatist insurgency began in the late 1970s […]
World Bank, Shakira join forces to aid young children
WASHINGTON, February 22, 2010 (AFP) – The World Bank and Grammy Award-winning singer Shakira teamed up Monday in a 300-million-dollar joint initiative aimed at helping young children in Latin America and the Caribbean. The Colombian artist is the founder of ALAS, a coalition of Latin American artists and business leaders that promotes early childhood development […]
Sri Lanka urged to be more transparent in business
Feb 23, 2010 (LBO) – The top US diplomat in Sri Lanka said the country should address the issue of greater transparency in business dealings to build investor confidence and attract more American investment. The challenge is to have transparency in business interactions and confidence in the legal framework that if a contract is signed […]
‘s Supreme Court refuses to free Fonseka
February 23, 2010 (AFP) – Sri Lanka’s Supreme Court refused Tuesday to order the release of detained opposition leader and former army chief Sarath Fonseka as it deliberates a petition challenging his arrest by the military. As the battlefield architect of the victory over the Tamil Tiger rebels last May, Fonseka had been hailed as […]
Sri Lanka former war zone seen as economic catalyst
Feb 22, 2010 (LBO) – The revival of Sri Lanka’s northern and eastern provinces can position them as economic catalysts for the country in the long term, its investment promotion chief Dhammika Perera said. It will provide opportunities for further policy reforms and private-public partnerships, Perera, chairman of the Board if Investment said in a […]
Sri Lanka business loans grows in December: data
Feb 22, 2010 (LBO) – Sri Lanka’s loans from commercial banks to private businesses expanded in December 2009 continuing a credit recovery that started in September, the latest official data shows. Central bank credit to government which fell to a low of 69. 9 billion rupees in September had risen to 109 billion rupees in […]
Sri Lanka needs more business freedom, says top entrepreneur
Feb 22, 2010 (LBO) – People who are quick witted can develop business opportunities in Sri Lanka by challenging state or private controls and by busting monopolies to bring in competition, a veteran entrepreneur has said. Wijesuriya’s latest acquisition is the Colombo Continental Hotel, the first five-star hotel that was built in Sri Lanka’s commercial […]
Sri Lanka to stop value added tax refunds to 1700 firms: report
Feb 21, 2010 (LBO) – Sri Lanka’s revenue office will stop refunding value added taxes (VAT) to 1725 firms on the grounds that they have not submitted documents on time, a media report said. A VAT regime works effectively when there is a flat rate (such as 20 percent) and all sectors are included. The […]
Sri Lanka ex army chief gets luxury jail treatment: president
NEW DELHI, February 20, 2010 (AFP) – Sri Lanka’s president says arrested ex-army chief and defeated presidential candidate Sarath Fonseka is getting “five-star” treatment in custody, it was reported Saturday. Fonseka, whose detention came two weeks after being beaten in presidential elections in late January by President Mahinda Rajapakse, is being held by the military […]
Sri Lanka monks complain of government pressure
February 19, 2010 (AFP) – Sri Lanka’s top Buddhist monks called off a special gathering this week because of government pressure, a spokesman said Friday, while the opposition said bomb threats had been involved. The monks had been sharply criticised in the state-run media for dabbling in politics after they sent a letter to President […]
Fed hikes rate on discount window amid easing financial crisis
WASHINGTON, February 18, 2010 (AFP) – The US Federal Reserve said Thursday it was increasing the interest rate it charged on emergency loans to banks in a move to normalize lending after radical measures to jolt the economy from recession. “The modifications are not expected to lead to tighter financial conditions for households and businesses […]
Oil Slick
Feb 18, 2010 (LBO) – Lanka IOC, a unit of the Indian Oil Corporation, said it was making ship oil or bunker deliveries from Colombo port through locally registered vessels after barges contracted by the firm were detained by Sri Lanka shipping authorities. Shipping sources say the bunker tankers of other operators are mostly idle […]