Tag: Sri Lanka
Sri Lanka business groups oppose UN war crimes resolution
Mar 20, 2012 (LBO) – Sri Lanka’s business chambers have opposed a resolution in the United Nations Human Rights Council against alleged war crimes in the campaign that crushed Tamil Tiger separatists. “The joint Chambers of Commerce of Sri Lanka express concern over the resolution to be tabled at the UNHRC against Sri Lanka,” they […]
Sri Lanka consumer protection activism seen weak
Mar 20, 2012 (LBO) – Sri Lankan consumer protection activism remains weak because of a lack of awareness and will, leaving consumers vulnerable to the lobbying power of big business and utilities, an official said. The Public Utilities Commission plans to step up its campaign to educate consumers this year. “After making people aware, we […]
Oil Opportunity
Mar 20, 2012 (LBO) – A wide range of business opportunities is opening up for Sri Lankan companies in the emerging hydrocarbon exploration and production programme after two offshore gas strikes by Cairn India, an official said. These range from providing banking and financial services, oil well insurance, risk management, and training to catering services […]
Sri Lanka might lose Indian support on war crimes issue: reports
Mar 19, 2012 (LBO) – India might vote against Sri Lanka in the United Nations Human Rights Council which is debating alleged war crimes in the island, news reports quoted Indian prime minister Manmohan Singh as saying. Tamil Nadu political parties have been urging the Indian government to take a strong stand on the atrocities […]
Lube Location
Mar 19, 2012 (LBO) – Chevron Lubricants Lanka, a unit of the US based group said it will re-locate its blending and packing plant with the end of a land lease with a state-run petroleum firm. “In order to sustain the long term growth of the business, the Board has made a decision to relocate […]
Sri Lanka should watch external developments, learn lessons: banker
Mar 17, 2012 (LBO) – Sri Lanka should watch global developments closely, in particular the unfolding scenario in Europe and learn lessons, Saliya Rajakaruna, chief executive of the Nations Trust Bank has said. Rajakaruna said the US economy was still struggling, the future of the Euro single currency was in doubt, the Middle East was […]
Oil Agenda
Mar 15, 2012 (LBO) – Sri Lanka will auction shallow water blocks in the Mannar Basin to oil exploration companies soon following the discovery of gas by Cairn India in two of three test wells, an official said. Total of France is one of the oil majors which have shown interest in Sri Lanka. “They […]
Safe Search
Mar 15, 2012 (LBO) – Sri Lanka is considering setting up a regional safety training for the oil and gas industry following the discovery of gas in its offshore waters, an official said. Saliya Wickramasuriya, the island’s Director General of Petroleum Resources Development, said safety training is an important requirement for the oil industry which […]
Sri Lanka 2012 economic growth downgraded to 7.2-pct
Mar 14, 2012 (LBO) – Sri Lanka’s economic growth for 2012 has been downgraded to 7.2 percent from an earlier projected 8.0 percent, but inflationary pressures may remain weak, the Central Bank said amid measures to counter a balance of payments crisis. The central bank raised policy rates in February, allowed a rupee peg to […]
Sri Lanka to slap price controls on drugs amid warnings
Mar 11, 2012 (LBO) – Sri Lanka will soon bring a law to control prices of drugs, a media report said amid protests from the pharmaceuticals trade which had warned that price controls may create shortages of essential drugs from time to time. Sri Lanka’s post-independence rulers, who printed money to run deficit budgets, depreciated […]
Three Sri Lanka soldiers found shot dead in Jaffna: Update
Mar 09, 2012 (LBO) – Three soldiers assigned to provide security to a Hindu temple were found shot dead in Jaffna in Sri Lanka’s north Friday morning, military spokesman brigadier Nihal Hapuarachchi said. He said initial investigations had indicated that the incident was due to a personal dispute. “There were no third parties involved,” he […]
‘s Tata on US$50mn project
Mar 08, 2012 (LBO) Sri Lanka’s Urban Development Authority is in talks with India’s TATA Housing Development Company, to develop an underserved area in Colombo an official said. The Urban Development Authority says slum dwellers are living in appalling conditions without proper ventilation and basic infrastructure. “They can’t even open their windows because it touches […]